How Much to Offer?

[Brad737]

Hi folks,

I'm busily shopping for my first BMW. As I mentioned in another thread, I'm looking for a late model (2006-2008), Certified Pre-Owned sedan with automatic transmission. (My wife will drive the car once or twice per month, so an auto is a must.) I've found several cars I like, and have been testing a few out. So far the leaders are a 2007 328xi, a 2007 328i, a 2006 525i, and a pair of 2006 325i's.

Most of these are from a dealer, but I did find one 2006 330xi from a private party. The car is EXACTLY how I'd order a new car from the factory, but it's a LOT higher mileage than I'd previously considered, 48,000 to be exact. However, it was purchased as a CPO from a BMW dealer, so there's still some decent warranty coverage on the car. I looked up the value of the car using the appraiser on Edmunds.com, and I'm kind of curious on how much I may want to consider offering, if I don't get too hung up on the mileage.

Edmunds says:

Trade-In value is $22,328
Private Party $24,500
Dealer $26, 407
CPO $28,751

Kelley Blue Book for a Private Party sale is $22,150.

I guess I'm just sort of confused. Should I consider this a strictly private sale, or does the CPO warranty make a difference? What would you guys recommend paying for a 2006 330xi? For the record, both of the 2007s have under 18,000 miles, and are both priced around $27,000. Am I mistaken by thinking the 330xi would be the most fun to drive out of the bunch? Any advice will be greatly appreciated.

Thanks,
Brad

[Numark318i]

How long is the CPO?

I think this decision should be based on whether or not you are willing to work on the car.

If not then i would go with CPO.

How many miles do you plan on driving it yearly?

[Brad737]

The CPO goes until 2012, or 100,000 miles, whichever comes first. I only drive about 10,000 miles a year, so it will definitely be the time limit that comes up first. That's kind of my quandry. If this car were offered by a dealer, they'd be asking around $28,000 for it. So that makes one of the 2007s a no-brainer, since they're a lot newer, with wayyyyy fewer miles. I was just thinking that since it's a private seller, I could shoot for the Private sale values, and save quite a pile of cash.

Thanks,
Brad

[witeshark]

If you don't need the AWD, then the lighter RWD cars would tend to be a bit more fun - on good tarmac. But if your snow events are more challenging, well that's different.

[Brad737]

Well, I've done the Skip Barber course, and a few Porsche Club Driver's Ed events, so I'd prefer a RWD car. But I keep going back to the fact that my wife's going to drive the car from time to time. And she's literally driven nothing but FWD Hondas and Toyotas. And let's just say, she's not exactly gifted in the art of locomotion.

The jury's still out on which car I'll pick. I think at this point, I'm leaning towards a black 2007 328i. But I really am having a hard time passing up the xi based on the condition, and additional "safety" when my wife drives.

Thanks,
Brad

[witeshark]

You know, I like the 328i CPO, and a spare Honda or Toyota for the wife. What do you think?

[Brad737]

Yeah, we're shopping for a newer car for her as well. We've just noticed that she's ended up driving my car more than we'd expected.

[witeshark]

Well then. I guess that means she needs some practice, and some ideas about using the in bad conditions.

[Brad737]

That's a fact!

I've been pushing that for years, but she could weasel out of it, because she can't (i.e. won't) drive a stick.

[witeshark]

Well then, I think I'd suggest your choice on the and the idea of a Honda/Toyota back up for the wife... Just a thought!

[coolvegase34]

Stay away from higher mileage cars.

[Brad737]

Hi guys,
Thanks for the advice, but common sense has prevailed in the case of this xi. I'm going to concentrate on cars with around 10,000 or 15,000 miles. But, in regards to the original question, how would you treat a
CPO car from a private seller?

[witeshark]

Well there's no CPO from private sellers I have ever heard of... Who certified it?

[Brad737]

Well, the car I was considering was a CPO purchased from a local BMW dealer. It's my understanding that the warranty follows the car. So I didn't know if I should use the Edmund's CPO value, or the private party value in crafting my offer. In this case, it's a moot point because I'm not going to buy that car. But it would be nice to know for the future. Unless I find something else in the next few weeks, I think I'm going to get either the 2007 328xi or the 2007 328i.

[witeshark]

Okay, if CPO follows the car from a dealer to a private owner, it needs to be transferable