Hey guys, I have been looking to buy an m5 for a few months now, but have had trouble finding one that is close to where I live.
I found a 2008 CPO M5 on AUTOTRADER w/9k miles on it with HUD and dealer is asking $67500 on the website. Since this car is about 4 hrs each way from my house I would want to negotate over the phone or email before I drive that far to test drive and look at it in person.
My main question is what would be a good way to start negotiations without sounding too interested, and what would be a good amount to offer and what price would you consider a good deal on this car.
I'd say 59k. I think you should decide on a price and just tell them that you will not pay a cent more. If they think 59k is not enough, I think it can be justified by saying that it is a buyers market and that there is a new 5 series/M5 coming soon (both are true, as you know). Good luck!
FWIW my local dealer (Raleigh, NC) has an '08 w/7K miles for 64,900. It's not a CPO - I asked why not, and they said it costs $4000 to CPO an M5. Ouch! It's $1500 for a "normal" BMW.
Figure out how much you want to spend and offer them a few thousand less. Offer too little and they won't take you seriously.
Why would you not want to sound "too interested"? Of course you're interested! Act any way you want to act, it doesn't matter. What matters is that you remember that there are thousands of these cars, and if you can't get the deal that you want on this one, there is another one out there. And it's probably cheaper.
It's a buyer's market these days on these cars. Use that to your advantage.
Michael
__________________
2003 LMB M5 R.I.P. 01/02/08
2008 Jet Black 335 Coupe (replaced the M5)
2008 Namibia Orange R1200GS (hence the handle "Beemer Guy")
$2800 to CPO an M5. Read the number directly off of the dealer's computer screen not four weeks ago. Might take more to remediate it to CPO standards, but the franchise fee is just $2800 for an M5.
Amazing that in the era of The Internets, dealers' first instinct is still to lie. That said, if it is not CPO'd and you want it to be, apparently the dealer can sell it to you as an option. Might be worth the rigamarole just to see what they would have to fix to bring it to the CPO standard.
If you'd like help finding a great M5, carefully selected and inspected, I can do it for you.
I buy cars to-order for a living and deliver them to my clients at a 5% markup, max of $2500 over my cost. I can give you hundreds of references. I buy Audi, MB, BMW, Posche, and the occasional Ferrari, Bentley, etc. I can find a nice one.
I also sell extended warranties to M5 board members. Fidelity Platinum, which is a very strong plan. So while I can't offer CPO, the Platinum warranty is better and can last longer for same price ballpark ($2800 dead cost for CPO, plus markup = ~$3500 vs. ~$3500 for Fidelity Platinum exclusionary, which is better coverage than CPO and can last 4 or 5 years at that price.
If you'd like help finding a great M5, carefully selected and inspected, I can do it for you.
I buy cars to-order for a living and deliver them to my clients at a 5% markup, max of $2500 over my cost. I can give you hundreds of references. I buy Audi, MB, BMW, Posche, and the occasional Ferrari, Bentley, etc. I can find a nice one.
I also sell extended warranties to M5 board members. Fidelity Platinum, which is a very strong plan. So while I can't offer CPO, the Platinum warranty is better and can last longer for same price ballpark ($2800 dead cost for CPO, plus markup = ~$3500 vs. ~$3500 for Fidelity Platinum exclusionary, which is better coverage than CPO and can last 4 or 5 years at that price.
Linear Mode
