10-14-2019, 06:50 PM | #1 |
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Buying a CPO
So after much debate and disappointment of trying to get a new X5 (lease), I'm livening up my spirits and going with a CPO X5 (2016-2018) Going for the works in terms of options and packages and managed to find a silver on beige with 31K miles for 38K that has a dented rear bumper but clean Carfax so that will take some time to resolve. Concern is that it's in Nashville while I'm in Charlotte and the dealer is willing to ship it. My wife works in the airline industry so we are thinking of flying there after our honeymoon...
What should I be looking out for when it comes to CPO as I've never bought a car but always leased. Any and all help would be appreciated before pulling the trigger. |
10-14-2019, 09:36 PM | #3 |
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I just agreed on a cpo 2016 msport carbon black 11k miles, sales price was 42k. They took off about 1k off and they also threw in extra year of cpo coverage vs taking more $$ off. They actually gave me the choice of a 2yr maintenance plan or extra yr cpo. So see if they are willing to offer the same deal. I originally asked for about 4K off and they weren’t budging at all even at 3k.
Ask the dealer for a detailed service record for the car. The front and rear bumpers are usually resprayed and any scratches else where would get touch up paint treatment. Some dealers will just go through the cpo checklist without performing the work so you really have to inspect yourself. I personally wouldn’t buy a cpo with that many miles, the market for x5 is huge keep looking and key is to be patience. I shopped around for 2 months before pulling the trigger. |
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10-14-2019, 09:45 PM | #4 |
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Where did you get yours from? Thats extremely low miles! I'm trying to stay under 30K miles, is that safe or should I be shooting for even less?
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10-15-2019, 06:38 AM | #6 | |
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I found my car on Cargurus as private sale. It was easy and car needed minor things but came with 1.5 years of CPO |
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10-15-2019, 08:05 AM | #7 |
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Make sure to get a pre purchase Inspection. Do not trust the carfax at all. For history request two things from the dealer, 1- cpo checklist (somewhat detailed checklist of things they look at to certify a vehicle) pay attention to the checklist since some dealers check off everything without looking. 2- service and or work order on the vehicle. This will show service records that may not be on carfax. BMW has their own system that holds all the records. This will also show any warranty work that was done on the vehicle, gaskets, control arms, etc.
This is where the pre purchase inspection from a shop that specializes in European cars will be handy. They will (should) look at the vehicle inside and out. Usually cost about $100-200. Looks at body, mechanical and electrical. There are companies that do mobile inspections (which is what I used). Saved plenty of time since I don’t have to drive for 2-5hrs to see a car that only appears to look good in photos. Watch some YouTube vids on negotiating a price. Don’t believe the dealers final price or their claim that they do not negotiate. They can and always will go lower. Try to show interest and then get up to walk out the door, see how quickly they go after you trying to negotiate. |
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10-15-2019, 08:59 AM | #8 |
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Just went through this process. My experience was dealers won't negotiate much on CPO. Unless you find the rare private party like djrabbi, you have to go dealer for CPO. You need to be patient and wait for prices to drop. Give yourself plenty of time. BMW has a CPO site where you can see what the market is like in your area.
Most CPOs will be lease trade-ins, so really low mile cars won't be all that common either. At least that's what I found in the greater Wash DC area. Around here it seems to be a seller's market for X5s. Don't be afraid of miles if service report shows car was maintained decently. One thing to think about - runflats. Car will come with them so think about now and they probably will be summer tires. That might not matter in Charlotte. Good suggestions already in this thread. Don't forget that CPO coverage starts on in-service date, so make sure you get that. If the car you're looking at was leased new, use the residual number to judge how good a price you're being quoted. GL and try to enjoy the process!
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10-15-2019, 09:51 AM | #9 | |
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You cannot get a CPO from a third party dealer. I had one guy suckering me in saying it is CPO and I will get it. Thank god I did my research and bmw doesn't let you transfer over CPO if you buy From a non BMW dealer |
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10-24-2019, 04:56 PM | #10 |
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I used the CPO website myself and found mine at Leith in Raleigh, NC. You would think I could find what I was looking for in the DC area where I live, but X5s with all the packages are hard to come by, especially if you want beige or white interior and near pristine condition.
IMO when it comes to negotiation, you have to appreciate whether it is high supply or high demand. If you are willing to go without all the nice extras, you would have many to choose from and dealers will work with you. I went the route of wanting all of them and I was grateful the dealer gave me $500 off without asking.
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10-24-2019, 06:12 PM | #11 |
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You can transfer CPO from private party sale though if there is still time left on it. You just have to pay the $200 transfer fee and fill out the transfer form. I regret doing so as CPO warranty seems worthless as hardly anything is covered.
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10-25-2019, 08:20 AM | #12 |
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CPO BMW car can have accident/damage up to $10k
So if you do care about it, rent a a paint gauge; no repainted car can hide from a paint gauge, don't care if DaVinci painted it. Original paint thickness goes about 95-120 micron, non factory painted car range from 220 micron and up. No cheap magnet gauge though we are talking digital maybe even ultrasonic one. Beware of fleet/corporate cars when so many lease return is available, no particular reason; I just like car that is driven as daily by one or two drivers at most. You can do PPI (Pre Purchase Inspection) if you want, but nothing you can't do yourself, just google some items to look at. The easiest is to look under the car for oil leak, crude/slime under oil cap, oily float substance in radiator expansion tank, grinding noise on take off, turn etc. Don't care if it CPO, avoid. GL |
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10-30-2019, 11:22 AM | #13 |
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Thanks for the tips everyone. I've looked at the CPO BMWUSA website and it's so outdated as most of the cars I've piqued interest in are no longer available. One dealer told the car sold 2 months ago!
I'm still looking around but a lot of the ones that hit about 90% of my wants are very much out of state and so traveling to see it is a bit cumbersome... |
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11-03-2019, 06:27 PM | #15 | |
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11-04-2019, 03:38 PM | #16 | |
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Example: https://forums.edmunds.com/discussio...and-prices/p21
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11-04-2019, 06:34 PM | #17 |
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Here is what I would do and have done for number of years. Rather than paying $3-5,000 more for a CPO car, I would rather buy a low mileage from a private party and for the price of CPO, I'd rather buy a goOd extended warranty with an extra 3/36,000 miles
I have certain rules that I'd rather not move from. 1)- Never buy a car sight unseen, never ever and yes that includes the dealers toO 2)- will never buy a car without a paint meter and yes, the dealers probably have never heard about them either. 3)- All correspondence with the sales guy should be either via email or txt, period. 4)- Get in writing if the car has any re-sprayed panels or not? 5)- Make sure the wheels/tires condition/tread? 6)- Don't ever buy any car sight unseen? Hope that helps. |
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11-10-2019, 05:51 PM | #18 | |
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11-10-2019, 08:28 PM | #19 | |
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Once you find out the company names, call them directly or call other stores and find out who sells them. If you are lucky your local GM or Nissan/Toyota might have better rates for you. If it's a company that BMW doesn't offer, make sure you check with them to see how their experience has been dealing with them Hope that helps. |
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04-07-2020, 01:02 PM | #20 |
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Carfax reports aren't always very comprehensive. You should try to get another report to confirm everything and then go for the purchase.
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Hey! Check out Vehicle Check Pro for best and cheap VIN reports.
http://vehiclecheckpro.com Email: support@vehiclehistory.report Call Us: (800) 451-4846 |
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04-08-2020, 11:06 AM | #22 |
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True. A it also does not guarantee the car was in a major accident.
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