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Car Buying Advice-What would be a fair price? BMW X5.

notracinnotracin Member Posts: 8
edited March 2017 in BMW
MSRP 60,345 BMW x5xdrive35i courtesy car with 3000 miles . Dealer is asking 53,986. I'm thinking 51,500 out the door . Thoughts please

Answers

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    steverstever Guest Posts: 52,454
    Hm, hard to know what options this one has. MSRP for one with no options is $57,995. I'm going to assume that this one has the premium package. Customer Cash Adjusted True Market Value on a 2016 X5 xDrive35i with Premium is $58,435. That includes the destination and a $1,000 incentive. Invoice is $56,255.

    So the dealer appears to be knocking off ~$2,000 off invoice for the 3,000 miles. That's about .66 a mile if my math is correct, so a bit better than what the IRS gives you. Not bad.

    Not sure of your market and the taxes and registration fees in your area. Another $2,000 off the selling price may be doable but the taxes may be too much for the dealer to swallow.

    Something about how the manufacturers structure these demo/courtesy car deals makes me think the dealer isn't incurring interest for having the X5 on the lot and if the carrying costs are low, they may not be willing to deal too much more. Sometimes you do better just getting quotes on new ones.

    If you do spring for this one, it'd be good to check on when the factory warranty started running.

    Good luck and let us know how it goes.
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    notracinnotracin Member Posts: 8
    edited April 2016
    57,000 base price
    1400.00 driver asc 
    550. White metallic 
    400. Running boards
    1000 destination 
    60,345 msrp 
    put in service 2-18-2016
    53,986 add tax and fees seem alittle much to me , I got a quote on a new one 10% off msrp from a local dealer in Alabama. Thinking a used one might get a better deal
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    steverstever Guest Posts: 52,454
    Heh, if it weren't for the 3,000 miles, I'd say the dealer purchased it to make quota one month. But the "put in service" date is mid-month so that theory won't hold water.

    OK, with those options, invoice is $56,075 and TMV is $58,145 with the $1k incentive.

    So, still $2,000 off invoice. Good price for a Bimmer and again, don't know if the dealer will give too much more.

    @kyfdx may have another slant.
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    notracinnotracin Member Posts: 8
    57,000 base price 
    550 white metallic 
    1400 driver asc.
    400 running boards 
    1000 destination 
    60,345 msrp
    put in service 2-18-2016
    3000 miles 
    53,986 add tax and fees seem alittle much for a used x5 . I know they think it's new though 
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    steverstever Guest Posts: 52,454
    >I know they think it's new though

    That seems to be a common problem with dealers. My sister got a demo Crosstrek a few months back even after I told her it was about the same price to get a new one. She never listens to me. :)

    She does love the car though, and life is short, so ....
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    jks24jks24 Member Posts: 69
    I might try to buy a X5, 2016 with very low mileage. My issue is that it is a 1yr old car, but was sold in October 2015; therefore, it only has 2 years left on the warranty. How should I negotiate bc I feel the car is 2 yrs old and not 1. Thank you!!!!! Car has numerous packages, most expect for premium cooling seats, asking 62Kish.
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    @jks24, great question and observation. 1. I would let them know that you noticed what the original inservice date is. 2. I would at least appraise the car here to see the "Dealer Retail" True Market Value (TMV): https://www.edmunds.com/appraisal/. How long has it been on their lot? Do you have a link to the listing?
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    jks24jks24 Member Posts: 69

    @jks24, great question and observation. 1. I would let them know that you noticed what the original inservice date is. 2. I would at least appraise the car here to see the "Dealer Retail" True Market Value (TMV): https://www.edmunds.com/appraisal/. How long has it been on their lot? Do you have a link to the listing?

    It has been on the lot for over a month, I dont have the listing, Its original price was 78K bc it truly has every package in place except for the highest end sound system.

    I assume I am using the "Dealer Retail" on this car because it probably was a "dealer owned" car with only 7K miles. Thank you for the compliment-I dont get that often in the "car world".!
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    It sounds like a great X5. I love low mileage used vehicles because you can get a great deal on them and save yourself some money!

    You're correct that you will use the "Dealer Retail" (If it is certified, you want to compare to the "CPO Dealer Retail"). It is more of a guide. So, your goal is to not pay more than the Dealer Retail. I would start below the TMV and go back and forth with the dealer.

    As for the compliment, you're welcome! The "car world" is a tough place and as shoppers, we are all in it together. Some of us are at the earlier stages and getting to know how everything works. Others are at the later stages where they are well versed and experienced. Either way, I think we all need a little encouragement along the way.


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