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Buying a used 5 Series

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  • gardisgardis Posts: 185
    Guys,
    I need some advice. I found on the BMWUSA website, an ideal car. it's a 2007 CPO 530i, Alpine/Black, with Premium, Cold, SPORTS, prem. sound, and NAV. Car has 24K miles on it, it's off lease, one owner, clean Carfax, and dealer wants $36,999 for it. I called and got so excited, it's exactly the car I'm looking for, I walked away from one in January because of the stock market, but I'm reluctant to pass on this one. I called the dealer, and right away put a $500 deposit on it to hold it. The salesman, very nice guy, said they "owned the car at $36,000" and maybe there's few hundred in there, and then asked me what I thought I wanted for mine. I have a 328i, 1996 with 109K miles on it, with some issues (moon roof doesn't work, some other minor stuff that I had priced at the BMW dealer I dont' want to bother fixing yet). He's willing to drive the car to me (dealer is 60 miles from my house), then he called me back and said that he would take mine back with him, and the dealership gave him authorization to appraise mine on the spot.

    I'm thinking that the price is a little high for that vehicle, and I don't want to move so fast. Should I drive out there, take the day off, and see what happens. I mean I haven't even driven the car, let alone seen it, except for pictures on the dealer website. The car is evverything I"m looking for but I"m more comfortable at $34,000 not the $36,999. Plus they're going to add dealer fees ($500, right). I"ve seen other similar vehicles with the XI that supposedly is supposed to be a higher priced model, in the same price range if not a little less. I just think that's high for that vehicle, given it has NAV.

    What do you guys think? I'm going to call him on Tuesday morning and say, not so fast. Let's talk about price, or walk away. Anybody have any feelings about it.
  • gardisgardis Posts: 185
    Well guys, after all these months of gut wrenching emotion, I finally made a nice deal today at the BMW dealer in Greenwich CT. Remember I had seen a beautiful Alpine White 2007 530i with Sports pkg, which is just what I was looking for, with low miles.

    My sales girl, who's been working with me since November, was able to work with the other dealer because they are all owned by the same BMW parent company apparently. So one of the Greenwich manager's who lives in NJ, is going to pick up the car next week, and drive it over to Greenwich.

    Meanwhile, the asking price was $36,999 (premium, cold, SPORTS, NAV, prem sound, comfort access, etc) 24K miles, Warranty expiration June 26, 2012. I got the car for $36,200. My heart was in my mouth over my trade in (1996 328i, 109K miles)
    and somehow, they had the impression I wanted $2500 for it. Well the manager reviewed the car while I was talking to the saleswoman. He came in, and started with "well, I know you wanted $2500 for it (I never said that, I actually thought they'd offer me about $1200), but it has a few issues, and I could do $1500, maybe $2000 since you really want the car." I accepted the $2000 right on the spot, and that ended the negotiation part of it. I'm satisfied with it. Look the car has low treads in the rear set, sunroof inoperational, and ABS light comes on which the Darien dealer told me is a wheel sensor ($275).

    So I'm giving them a large down payment, and financing only about 30% of it at 3.9%, she said maybe they'd do a little better. we'll see. The car is a cream puff, Alpine White, with black leather, and I am so excited I fnally found a car. I know I paid maybe a little more, but you know something, I keep my vehicles a long time, so that extra money will be amortized over the life of the vehicle.

    Also - I bought the extended service warranty for $1695, which extended the service warranty until the end of the main warranty, which is June 2012. I felt it was worth the $800 per year extra for that. Peace of mind. Otherwise the 4 year warranty was running out in June 2010. I want to make sure my 30K mile servicing is FREE. Now it will be. I thought this was well worth it, I know they probably took me, but since the BMW dealer sold it to me, I have no doubt about it. It went onto the amount to financce, and yes, I realize it's a gimmick, but still it's there if I need it.

    Well what do you think guys!!!
  • roadburnerroadburner Posts: 6,011
    Sounds good. Never obsess over a few bucks that you may have left on the table- just enjoy the car!!! :)

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

  • kevin530kevin530 Posts: 25
    Congrats, Gardis. Seems like you found just what you wanted. I agree with Roadburner that you shouldn't fret about a few extra bucks.
    It does seem, however, that you got emotional about the car and the purchase, but don't we all at some point!!
    Like to see it sometime.
    Enjoy.
  • sondu51sondu51 Posts: 6
    Dealer is offering 2008 528xi with pre, cold pkg, xenon lights and 12000 miles for 38k.
    Is it a good deal?
  • gardisgardis Posts: 185
    Hello Guys
    Picked up my CPO 2007 530i on Thursday at the dealer. The car is impeccable and I'm ecstatic with it. When I was doing all the paperwork I was signing the finance papers (I only financed about 25% of it @3.9% from BMW) the guy tried to upsell me on those options for a higher monthly payment, and I turned them all down FLAT. He looked disappointed and said, may I ask why, and I ignored him. Gimmick.

    I can't believe how this car handles. Smooth and powerful. I'm thinking why would they need an even bigger engine on the 535 model now. With what I have, it feels like taking off in a 747 when I ease onto the highway!!

    Have a great weekend,

    Gardis - CT
  • mars415mars415 Posts: 2
    i live in the SF bay area and found this Certified 2007 530i Sedan with Premium Package, Sport Package, Automatic Transmission, Comfort Access, Xenon Headlights, Park Distance Control, Premium Sound, Navigation System, Leather Interior and Metallic Paint. This car has <25K miles on it.

    Dealer is asking for $38.9K, which I think is excessive.
    What would be the fair price for this car..
    I am thinking about offering 33K.

    I would appreciate your suggestions and if you have recently purchased a used 5 series in the bay area, I would like to hear about your buying experience and suggestions for a good CPO dealer in the area.

    Thanks for your help.

    mars
  • roadburnerroadburner Posts: 6,011
    Use the CPO model search on the BMW USA web site. That should give you a general idea of regional asking prices.

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

  • gardisgardis Posts: 185
    Mars
    The car you just described is the exact vehicle I purchased, right down to the mileage EXCEPT: I do not have park distance control and the vehicle is Alpine White.

    They were asking $36,999 for it, and I ultimately settled for $36,200. This is in Greenwich, CT. I looked at 5 series XI models, and they were in that same price range, so I even thought this was a little high, but the vehicle was impeccable, so I went for it.

    Good luck, let me know how you make out.
    Gardis
  • LASpursLASpurs Posts: 13
    Hi everyone,

    I wondered if I could ask you experienced heads a few questions regarding this car.

    I am looking at buying a pre owned 2006 BMW 550i, it has 48K miles on the clock and from the outside (and under the hood) appears to be in stunning condition. It is fully loaded with the Navigation, winter package, HUD, Sports package, leather seats, bluetooth, seemingly the lot.

    The dealer is looking for approximately $31,500 for it. Does that seem a good deal? KBB has it $3,000 more than that I think.

    With it being just under 50,000 I imagine the warranty and inclusive service is about to expire. How expensive are the servicing costs usually and what are the intervals? Is there anything in particular to look out for in a BMW of this age/miles?

    Any help would be gratefully appreciated.

    Thanks!!
  • roadburnerroadburner Posts: 6,011
    On an E60 some services are determined by time, some by mileage, and some by the Condition Based Service system(which calculates service based on driving conditions).
    The time based services are: Brake Fluid(every 2 years) and Coolant(every 3-4 years-even though BMW doesn't call for it)
    The mileage based services are: Spark Plugs, ATF, and Oxygen Sensors(every 100K miles for all three).
    The CBS system has 3 levels of service: Oil Service, Inspection I, and Inspection II. An Oil Service is called for at @15K intervals(or every two years, whichever comes first). It is essentially just an oil change. It costs $80-$125
    The Inspection I rolls up at around 30K; it is an oil change, a cabin air filter change, and a comprehensive inspection of the car. Figure $250-$300
    Inspection II occurs around 60K and is essentially an Inspection I + an engine air filter change. Costs average $350-$500

    If you're going to hang on to it for a while I'd advise changing the automatic transmission or gearbox oil every 50K. Change the final drive oil at 100K. I change the engine oil myself on my wife's X3 at 7.5K intervals due to the fact that the truck chews up its oil in less than 9K miles(based on used oil analysis). That's comparing apples to oranges; some people go 15K without any problem but I'm not one of them.

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

  • LASpursLASpurs Posts: 13
    Thanks for the reply, in the end I didn't get the car as I had heard some horror stories regarding the cost of maintaining a BMW after the 50K warranty had expired!!!

    Thanks again for the help, I appreciate it :D
  • srx2870srx2870 Posts: 16
    I just got a quote from dealer for a CPO 530xi w/ prem, cold, auto and nav package. It has 35000 miles on it. The dealer asking price is 33900 and he said the most he can do is 33450. Is it a good deal?
  • mars415mars415 Posts: 2
    Well, the car that I mentioned sold a day before I got to the dealer.
    so, I ended up leasing the new 2010 535i instead of getting a used one.
    Nice car. The new idrive is responsive but got too many options..
    Hopefully, I'll get used to it.

    :)
  • roadburnerroadburner Posts: 6,011
    Thanks for the reply, in the end I didn't get the car as I had heard some horror stories regarding the cost of maintaining a BMW after the 50K warranty had expired!!!

    Those stories are mostly second and third hand hearsay passed on by pathetic envious fools. I've owned my 1995 3 Series since new and at 115,000 miles maintenance and repairs have averaged $33/month. My wife's 2004 X3 has covered 80,000 miles and has cost $56/month to run. The only thing it has needed apart from scheduled maintenance is a four wheel brake job and a set of tires.
    It's too bad you let some jealous imbeciles cheat you out of enjoying a very fine sports sedan.

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

  • jayriderjayrider Posts: 3,194
    If I followed the dealer recommended service for my 03 jeep liberty, the maintenence costs would average $1000 every 6 months.They have a myriad of flushes, cleanings etc. My costs average $100 per year and it runs fine. If you maintain your bmw,mercedes audi, at a skilled independent shop, your costs will not be excessive. If you give the dealer a blank check than expect to be reamed in most cases. Repairs can be stiff because parts are more expensive,but shouldn't be all that frequent.
  • roadburnerroadburner Posts: 6,011
    If you give the dealer a blank check than expect to be reamed in most cases. Repairs can be stiff because parts are more expensive,but shouldn't be all that frequent.

    That's usually the case, although I will say that my local dealer(Sam Swope, Louisville KY) has very fair pricing. They also refuse to push additional unneeded service. That said, I also use a good BMW indie shop, but often it's a toss-up as to which shop will have the better prices. I follow BMW's maintenance schedule to the letter with the exception of oil and automatic transmission fluid or gearbox/final drive oil changes. I change the oil and ATF at 1/2 of BMW's recommended interval while gearbox oil and final drive oil are changed every 30,000 miles in my track rats.

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

  • jaydolljaydoll Posts: 120
    hi, I have a chance to buy a 2004 530i 6 speed with premium/zennons/cold weather package and 54K miles. It is a relative and it has been maintained by the book and garaged.

    Asking price is $17K

    My big fear is the electronic on this car. I remeber hearing that there were a lot of problems with the i-drive on this car being the first year of this stlye and i-drive.
    Anyone have any idea if the 04 /first year i-drive sytems are destined for failure.?

    Any other problems that I shoould know about?

    Thanks,

    Jay
  • looking at a 95 525, 126,000 miles , power everything according to the dealer, ac belt is off, but compressor turns freely. good condition, dealer has been driving it for the last 4 months, he wants 3995.00 for it, are they dependable, is this a good price? i m also looking at a 740il for 3000.00 with the same mileage as the 525. it is in excellent shape, just the maintanence costs scare me on the 740. i ve had bimmer motorcycles and i know they are rock solid. any info would help.
  • roadburnerroadburner Posts: 6,011
    The E34 5ers are pretty solid cars. Have it checked out by a good BMW tech. If the belt is off the A/C compressor you can bet something is wrong. A service history would also be nice to have. If it's a stick and it checks out I'd pay no more than $3000 for it- $2500 if it has a slushbox.

    2009 328i / 2004 X3 2.5/ 1995 318ti Club Sport/ 1975 2002A/ 2007 Mazdaspeed 3/ 1999 Wrangler/ 1996 Speed Triple Challenge Cup Replica

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