Opinions on this Deal?
 

I've been reading this forum a lot lately, as I'm looking at buying an X5 for my wife. Lots of great information on here!! I've been presented with the following deal, and wanted to see what you folks think:

CPO 2005 X5 3.0i
1 Owner
44,500 miles
Premium
Cold Weather
$24,900

There is really no BMW dealer competition in my area, so prices tend to be a bit higher than what you can find in major cities. I know none of you are able to actually kick the tires, but does this sound like a good/reasonable deal? Thanks for your help!!

Here in michigan i saw some CPO 05,06 3.0i with 44k,48k miles them and they are selling for $28-$31k
So with your price i think it is very fair.

I think it sounds ok'ish/inline as to what our dealers offer here in the DC metro area at list price. I think you could probably do better if you were willing to drive, but its not "horrible".

For example a quick spot check of our dealers in DC:

CPO 2005 X5 3.0i, 32,000 miles $25992
CPO 2005 X5 3.0i, 41,000 miles $24891

Note, with CPO depending on driving habits, you'll probably hit the term end i.e. 6 years after in service date, rather than the mileage. Keep that in mind as you purchase.

Also, the two X's above are list prices so I am sure dealer would negotiate further down.

Something else you may want to consider, if it is 2k or 3k more, BMW has special financing (.9%) on the 2006 models which I do not think applies to 2005 models. May also want to check that aspect out to see which is actually a better deal.

Figure about $2k-3k added value for the CPO, and your price is actually quite nice for an area without much competition as you put it.

if 24.9 is the list price - offer them 24 and drive home :D :thumbup:

oh and :welcome:

With all due respect to the guys who already posted answers, my honest answer is it's impossible to say if it's a good deal or not regardless of whether it's $24,900 or $14,900. You've posted no photos or any information on the actual condition and history of the car. You really need to do your homework before jumping in on the purchase. Since you've been reading the forums I don't need to restate what you should be looking at and for. Do a search and read some of the horror stories and headaches people have had. In the past couple of weeks there have been great successes and a few disasters, I doubt you want to be a member experiencing the latter.

Does the oil separator issue affect the 2005's? If so, I would factor this in depending on where in the midwest you are.

It affects basically every BMW made in the past 10 years. Check out the threads.

For reference, I just purchased one this last weekend:

CPO 2005 X5 3.0i
1 Owner
60,000 miles
Premium
Sport
Paid $18,000

I would rate the exterior at 9.8/10 and the interior about a 9.2/10

I was messaging with another user on here (cjro2002) who just purchased one similar mileage, same vintage. I won't disclose what he paid (except to say it was less than the one you are looking at), but he may if you PM him. Good luck and feel free to PM me if you have any questions.

Wow. Thanks to all for the great responses/information.

The "sticker price" on this X5 is actually $27,900 (which I think is way too high- like I said, no competition here), but the dealer offered to go to $24,900 right out of the gate without any negotiation. I have a good relationship with this dealer, so I'm confident they are not trying to unload a lemon on me, but it is approx. $2-3k more than what we originally planned to spend, and I'm just trying to figure out if it is "such a good deal" that we should jump on it. In light of the initial $3k price cut, I suspect that the dealer will now dig its heels in on price, especially since this X5 has not been on its lot very long. Of course, that doesn't mean I can't try!

bd3500- I wish I was in the DC area, based on those staring prices. I agree regarding the CPO warranty. We will almost certainly run out of time before miles, and I am looking at whether we'd be better off getting a non-CPO X5 and third-party warranty. I'm also looking at the '06 special financing. Unfortunately, we just don't get a lot of good used BMWs to choose from around here, so I'm not sure how likely it is that an '06 will show up in the short term with the options and in the price range that we're looking for. That said, I'm willing to buy out-of-state if need be.

X5 Meister- I agree. It's a lot harder to evaluate price on something used vs. new. I don't have any pictures, but I can say that it drives well and, cosmetically, is probably a 9-9.5/10 inside and out (and I tend to be very picky).

Regarding the CVV, it's my understanding that the lines are heated as of (at least) 2005, although that might not necessary prevent the problem. My plan would be to have that checked/cleaned/replaced, as appropriate.

Thanks again for the input! Of course, please feel free to share any additional wisdom!!