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I love the Lexus interior. But I'm buying an entry level luxury car for the amenities and reliability.
Correct. Which is why I don't use edmunds TMV.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
In the meantime, I'm excited to get my new Acura. A different drive... fast and sporty... but hopefully will last and last... and seems to have no major problems....
Good luck with your choices.
If you are looking for the perfect car that will never break down then that will never happen and you will never buy anything.
Just find a dealer/manufacturer that stands behind their product and get something you are happy with.
Location : Pittsburgh, PA
Year:2002
BMW 325i Certified Pre Owned
3 Liter 6 Cylinder
52000 miles
Color: Black / Black
Options: Wood Trim, Premium Package, power sun roof, Leather
Condition: Excellent
Maintainance: All done as recommended by BMW.
I have financed this car through BMW financials and still have some loan on this car. How can I sell it? Most of the dealers won't buy it unless and until I am trading in and trade-in won't be a good option as I won't get good value for it. Could you please let me know how can I sell it?
(like my 2000 Chrysler LXI) ?
A dealer has offered me the buyout price for a leased 2004 XC70 w/ 25000 mi for $26,000. Also,the option to purchase an extended 100,000 mi/or/3 yr certified warranty for an additional $1500. I have been offered $6000 for my 1999 XC70 w/ 96000 miles. Dealer has assessed my car to be in Excellent condition (stated that rarely or never happens). He says there is no room for negotiation as the buyout price is stated on lease agreement (showed me a copy). Is this a good deal?
My cousin bought an Acura CPO 2006 TL 3 months ago from an Acura dealer in eastern Maryland. A few minor problems later, she discovered that the car had been in an accident costing $11K+ to repair. This despite a negative carfax report, and the CPO certification. (She tracked down the prior owner, who confirmed the accident, and she now has the repair paperwork detailing the exact repairs). Dealer claims they didn't know, but a mechanic friend was able to spot extensive repairs instantly, and another local dealer appraised it at $17K (she paid $26K 3 months ago).
The offending dealer offered to double the warranty to 100K miles. Acura HQ said to take it up with the BBB, but I'm wondering if she should hire a lawyer. Regardless of the monetary value of getting a damaged (but repaired) car, I also think she deserves compensation--she was basically lied to, and the car could be less structurally sound in an accident (I want her to get rid of it for safety's sake).
Anyone have a similar experience or advice to give? Is hiring a lawyer the way to go, or will the BBB help her get a fair settlement?
Thanks.
tidester, host
SUVs and Smart Shopper
I am planning to buy a CPO BMW - I've already seen the certification checklist, should I still get the car checked by a mechanic?
Thanks!
For example, I wouldn't buy a used Saab if God Almighty certified it himself.
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my question is in order for a car to be certified - preowned, did it require the previous owner to take the car to the dealership through Audi? Meaning if they took it to Jiffy Lube that it would not/and should not get certified?
The thing about 100,000K plus vehichles is that it all depends how well they have been cared for. I don't care if it is a Honda, a Ford, or a Toyota. If the vehicle has not been maintained well then it is a crap shoot. If all the things that should have been done are done and the vehicle is well kept then the life expectancy will be much higher.
It also depends on how much you are paying. If you get a fantastic deal then you can afford to put some preventive dollars in it. I got a sweet deal a few months ago on 2001 Explorer with 156K on it. So I could justify spending $450 on new ball joints and a 150K service.
Lets say its $20K OTD
Non-CPO
60X$400 @ 7.82% just using the prime right now for an example.
CPO
60X$365 @ 3.9%
That is a $2100 + The $580 + tax it would cost you to buy the 75K Powertrain if you wanted it.
If the truck you all looking at is more expensive then the savings would be more, if it was less then the savings would obviously be less.
I think a more accurate statement may be
Where I worked thats's where salesmen make extra money. you be the judge!
Instead of just throwing a blanket over the entire industry.
Even if there is more profit made on a CPO that is not a bad thing. You are getting more value for your dollar. Even if there is an extra $1000 made there is still a savings.
That being said, I don't think I want to buy a new one and assuming I can find one in a color my wife likes, I'd consider buying a certified pre-owned one with low mileage (@20k mileage, give or take).
I'm wondering what the downside is of buying a pre-owned vehicle (other than the fact that it has been driving in an unknown fashion for several thousand miles and has a shorter warranty). It looks like a good way to say a good amount of money.
Any advice or input would be great. Thank you.
Before you decide on buying used, I would certainly recommend that you see what the best price available on the NEW models. When I have compared the NEW Rx350s to the used Rx350s, the price differential has not been large enough to justify buying used in MY opinion.
For example, I am paying $45 out the door for a Lexus Rx350 NEW and $41 for a used one, I will buy NEW all the time ... and those are some of the numbers that I have seen.
If you are spending $50k+ for a vehicle, saving $2k seems to be a false economy IMO.
Ok, as the judge I say that you didn't last long in the car biz and were not very succesful. That is where the crappy attitude comes from.
There are some CPO programs that I just don't think are worth much, Lexus and Acura come to mind, but the Ford example you posted seems to make sense.
Most of the euro brands have good CPO programs too. Volvo and SAAB have 7 year 100,000 mile top of the line exclusionary warranty with no deductible and 4.9 for 60 months.
My dealer casually suggested to me that when we turn in the lease we buy it back as CPO. We do love this car, but given it's long term prognosis I'm hesitant to own it; i.e., be responsible for paying for repairs. Since we bought in 2005 all of our scheduled maintainance has been included.
Our monthly payment is almost $600 and we would like to be able to reduce our payment. Our assumption is that by buying preowned (with favorable financing) we'll be able to do that. I mention that because I don't think a new Q7 or even A6 might be in our budget.
So is turning in your lease and buying it back from the dealer a good way to go? Or does it simply benefit the dealer?
thanks in advance,
kzybulew
I called and our payoff amt. is currently $29063.78. That's the quote for Sept. Our lease ends Dec.
I have no idea what the dealer CPO price is...
Do i just call him and ask?
$25,000 financed over four years at 7% apr, coincidentally, works out to about $600 per month in payments.
tidester, host
SUVs and Smart Shopper
Is it possible that a Toyota Certified car would be sold through an independent used dealer? And, if so, how can I verify that a car is actually certified?
Thanks.
--Dare
Thanks,
Tidester, thanks for the 7% reality check, I'm not going to want to continue to pay $600 a month, so we can own a 7 year old Audi (with a questionable long term prognosis.)
My next step is to begin test driving/pricing everything out there that would suit our needs in anticipation that buying or leasing new might work out to be financially equivalent or even beneficial.
***(Warning.. long post, but a lot of this is for the benefit of everyone else who reads this)***
Wells Fargo Certified means that the car was certified by Wells Fargo when sold at a dealer auction, this means certified to not have any structural damage or structural repair history and to have a sound drivetrain. Most Manheim sales let you run cars Manheim certified, I used to do this a lot, it means that before the car is run at auction, it gets a "frame check" where it's inspected for any arbitrable structural damage and it's also given a mechanical inspection. Will they flunk it for a weak air conditioner, bad power window or edgy electronic display? No. But the engine, trans, differential, axles, etc all have to be in good shape. The car can also still have had substantial paintwork or have cosmetic issues, just the frame and drivetrain are guaranteed.
Now, if the car's got under 36k miles, who cares if anything's broken, this is what the Warranty is for.
So it means that the car is not a previously smacked unit, which is good.
Now, as to whether or not it's Toyota Certified, I can't be sure... but there's 2 things to check over here...
1) ONLY a Toyota dealer can sell a car as Toytoa certified that has not been previously certified, this is absolute fact.
2) It is possible that the vehicle was previously sold as a Toyota Certified Pre-Owned vehicle. I wasn's sure if the warranty transfers, as the Lexus CPO program does not, but according to Toyota's website it does indeed stay with the car.
http://www.toyota.com/tcuv/faq.html?language=E
My suggestion would be to call Toyota with the VIN and see if the car is covered under the Toyota Certified warranty, if it is, it's a nice bonus. If it is not, then an independent dealer cannot certify the car.
It's also important to remember that if you are considering the purchase of a previously CPO'd car that you need to bear in mind that a freshly certified car is supposed to have gone through an inspection, many of these cars pop up on the lots of different dealers, and while they may carry the balance of the certified warranty, they may not always be in the same exact condition that a freshly cerified car will be.
I used to buy LOTS of previously certified Jaguars and BMWs for the used car lot that I had in Florida, they were a great buy, we'd get 4-5 year old cars that were still under factory warranty and they hardly ever sold for more than regular prices. So the customer got some factory warranty and we were protected from unexpected repair costs... it was a lot more comforting buying that 4 1/2 year old 740iL with 65k miles that way!
So yes, it's possible that this 2006 is a 2-owner car that the second owner bought as a Toyota CPO and then had reposessed, but it's not likely.
There's still some independent banks that lease used cars, a friend of mine in Jersey at a Jag dealer is doing a huge business in leasing 2-3 year old Jags, so in some cases it still works.
Basically.. new S-Type V6 or 2004/5 Vanden Plas.. similar payment.
BMW's CPO support depends GREATLY on the model.. last I checked they had good support on the 7s and 5s.. nothing as usual on M cars.
These numbers are for CPO sales only in the US
July 2007
143,555
First 7 months of the year
1,005,152
GM
315,88822
FMC
115,573
Honda
148,675
Chrysler
105,119
Toyota
189,490
Suzuki
23
Mazda
3138
Nissan
34,563
The Nissan number surprises me, I thought it would be higher, so does the Mazda number. Porsche sold more CPO cars then Mazda did with 3845.
I am also surprised that Toyota's numbers are not hirer due to the fact that there prerequisites are less. According to the article I am reading they can certify a car that is 7 years old and has up to 85,000 miles.
I had orginally planned on purchasing another truck they had, I called and set up an appointment to see it, but due to not putting a cc deposit on it (a detail missed by both me and the salesman), it literally got sold when I was on my way to the dealership. In fact, when I called in the morning, the saleman told me they were getting ready to ship it out to auction. He called me back the following day and said they had gotten in a similar CPO truck from their other store and I could get a comparable deal ont hat one. The truck I did buy has a bit more miles, but a better color than the first one. However, the first one had 4 new tires!
Also, I have pre-approved financing through my credit union, but have told the dealership I would finance through them if they'll meet the rate. when I spoke with finance yesterday I reiterated that I felt the rear tires were too worn for CPO status. He said he would have them check it when the truck was being prepped.
If nothing has been done, should I force the issue with the tires since it is a CPO and should adhear to the requirements?
Also, if I want to be picky, the CPO states it will come with all manuals as well. When I test drove it, the glove compartment was empty.
Finally, when I tested the truck it stunk from the carpet cleaning solution used on it. It actually made my wife ill. They said they would get rid of the smell and noted it on the cleanup order.
Thanks
ps the last used car we bought was a CPO as well. When I got it it had 4 new tires, new pads and rotors and the 40K service done. 5+ years and 70k+ miles is still going strong.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Also, if I want to be picky, the CPO states it will come with all manuals as well. When I test drove it, the glove compartment was empty.
Yes, get what the CPO program states. If it is a Ford then there CPO program also states you get, Floor Mats, New Windshield WIper Blades, a full tank of gas, and two keys with remotes if equipped.
Whip into a garage on your test drive and have them slipe a tread depth indicator on it.
Peeter
btw, It's a Dodge (the only non Ford product we have).
Even though the CPO was 8/80, I got offered a warranty plan for 8/100. I politely listened when the guy was explaining it, how the full plan covered all this and that, I then started pointing out the sections that weren't really needed since i did not have power windows, locks, etc...
He did quote me a price for the Medium coverage plan, but I declined. When all was said and done, the final Price I could have gotten was around $740 (about 400 off the original number). I still declined as my history has been I usually end up just covering the cost of the plan with benefits used. Plus, I just got burned on my DLP TV. He warranty expired 9/28 and the bulb went 10/12 :mad:
Overall it ended up being a pleasant experience. Thanks to everyone here for all the advice I've gotten personally and by lurking. I researched prices here, dealt with the internet mgr, went in with a preapproved rate and stuck to my guns on the add-ons. Overall I'm sure it wasn't the BEST deal I could have found, but I'm happy, it's in my budget!
The numbers: 2004 Dodge Dakota SXT Club Cab, 57k miles $12,4 (one owner w/ CPO warranty). Trade '94 Daktota Club cab 149k (rough shape) :sick: $600
Rate 6.69% for 60mo. (want to keeps payments low but will pay off early).
Peeter
And, the new bulb for the TV arrived yesterday so I even got to watch my Alma Mater win last night. GO RU!
I am looking at purchasing an '04 or '05 CPO Acura MDX in the Boston area. There are at least 20-30 CPO MDXs within an hour's drive which meet my mileage and options requirements (most just inside warranty, coming off lease).
Prices on the dealer websites are between 25-31K for CPO, and the local non-CPO market is very heavy with these cars. Edmunds is showing a trade-in of 23.2K on these cars, and with the number available on the market now, I think that may be high.
No trade-in.
So, my question is, for those experienced in buying CPO cars, would it be reasonable to make my starting offer at 30% below the asking price on a CPO MDX, finally settling at 20-22% off asking price?
On a 30K car, my offer would start at $21K and I would top out at $23.5-24, trying to throw a few accessories into the higher numbers. Then I'll add the Acura wrap-around or Acura-care warranty to that (1K - 2K), bringing my final offer, including the extended warranty, to to 14 percent below their asking price.
How low do you begin when negotiating on a CPO? Will the initial offer of 70 percent be scoffed at, tainting the negotiation?
Thanks for any tips!
Maybe some one will come along and read this that has access to what those cars are bringing off lease at the auction in your area. Then maybe you could get an idea of what a realistic offer would be. BTW I don't know any thing about Acura's