[bimmer23]

I actually doubt it will be a rip off but. I am about to purchase my first M5 from dealer in Illinois. The carfax and the other history about the car checks out okay. Basically it is a

03 M5 silver
18K miles
dual tone leather
$54500
NOT CPO, but a vehicle that just came off lease.

I am pretty sure I am going to get it but I was on the fence as to pay for this or for 2000 less get a 2002 CPO with like 32K miles. I know the minor upgrade from the 02 to 03 but I felt the price was too close to not get the newer car.

I also figured that I at least have another 30K before the original warranty goes.

Late

 

[Jayson]

i think thats a great deal.

 

[Jutty]

Why can't the 03 get CPO'd? Might be worth it even if you have to pay a bit more. What is the history of the 02' model? I would rather have a babied '02 w/ 32k on it than a rodded '03 with 18K. It's off lease, and that may or may not be a bad thing depending if the original driver knew he was going to trade it in quickly. I would drive them both back to back to compare and maybe find someone outside that stealership with M5 knowledge to give 'em a once over (side by side). Whatever you decide, don't rush it. M5's have ways of causing irrational thoughts! :biggrin: lovelove :M5launch:

Good luck. :cheers:

 

[ard]

Is the 03 private party or BMW dealer or other dealer?

 

[sycosho]

I just paid $54,000 for my '03 with 22,500 miles. I was set on the white so this was the best I found.

The one you found isn't a rip off... but a very, very fair if not a good deal.

my .02 cents

 

[Stickman]

I just paid $54,000 for my '03 with 22,500 miles. I was set on the white so this was the best I found.

The one you found isn't a rip off... but a very, very fair if not a good deal.

my .02 cents

Sycosho,
Was this car CPO, private party, or an independant dealer? (Still shopping for mine and am constantly trying to figure out the market.) Thank you!
Alfred

 

[bimmer23]

It is a dealership. I am not yet ready for the private party for this kind of car. Even though I know I can possibley get a better deal.

Is the 03 private party or BMW dealer or other dealer?

 

[bimmer23]

Good point but the CPO for a 03 is in the 60K range and that would stretch me a bit thin.

Why can't the 03 get CPO'd? Might be worth it even if you have to pay a bit more. What is the history of the 02' model? I would rather have a babied '02 w/ 32k on it than a rodded '03 with 18K. It's off lease, and that may or may not be a bad thing depending if the original driver knew he was going to trade it in quickly. I would drive them both back to back to compare and maybe find someone outside that stealership with M5 knowledge to give 'em a once over (side by side). Whatever you decide, don't rush it. M5's have ways of causing irrational thoughts! :biggrin: lovelove :M5launch:

Good luck. :cheers:

 

[sycosho]

Sycosho,
Was this car CPO, private party, or an independant dealer? (Still shopping for mine and am constantly trying to figure out the market.) Thank you!
Alfred

It was from a non-bmw dealership. No CPO.

To be honest, all the M5's I saw from private parties were the cleanest M5's I saw during my hunt. The one's from the dealership including the one I have weren't as clean (but it is far cleaner than most used '03 cars in general).

I didn't care where I got my car as long as it was white/sport int. and carried as much of the original warranty from the factory.

 

[bimmer23]

For what its worth, the leaser before turned it in and bought a new Bentley Coupe from the dealership. The dealership is actually a Bentley dealer in Illinois. I know it doesn't mean any thing but just providing some history of the driver before.

Why can't the 03 get CPO'd? Might be worth it even if you have to pay a bit more. What is the history of the 02' model? I would rather have a babied '02 w/ 32k on it than a rodded '03 with 18K. It's off lease, and that may or may not be a bad thing depending if the original driver knew he was going to trade it in quickly. I would drive them both back to back to compare and maybe find someone outside that stealership with M5 knowledge to give 'em a once over (side by side). Whatever you decide, don't rush it. M5's have ways of causing irrational thoughts! :biggrin: lovelove :M5launch:

Good luck. :cheers:

 

[gsfent]

For what its worth, the leaser before turned it in and bought a new Bentley Coupe from the dealership. The dealership is actually a Bentley dealer in Illinois. I know it doesn't mean any thing but just providing some history of the type of driver before.

Not sure how much negotiating room there is on price, but tell the Bentley dealer salesperson to call the local BMW dealer and if they can make the CPO happen, you are a buyer. Cost is somewhere around $1300-$1400 IIRC.

There may be enough profit for the dealer to absorb, although he will have to give something to BMW dealer for the paperwork. So even if you had to add $1k, it would still be a good deal IMHO.
Regards,
Jerry

 

[Stickman]

if they can make the CPO happen, you are a buyer. Cost is somewhere around $1300-$1400 IIRC.

Has anybody done this - and for $1500? I'm being told that the cost to CPO a car (assuming it meets the qualifications) would be $3500!
Thank you.
Alfred

 

[ard]

It is a dealership. I am not yet ready for the private party for this kind of car. Even though I know I can possibley get a better deal.

Guy- this is a NO BRAINER.

A BMW dealer only pays $1295 to cpo it- assuming it meets all the requirements of a cpo inspection.

Tell them you found another 03 with a cpo and you'll do that unless they can do this for 55,500. Done deal.

If the dealer will sell you without for 54, why wouldn't he cpo it for his cost if it will move the car? Makes no sense

Good luck

A

Edit- I thought "dealership" was "BMW"... sounds like you are buying it from those slimeballs at Bently of Downers Grove.. BE CAREFUL. They cannot be trusted- AT ALL, they will lie and misrepresent.

If it is not these guys, then apologies- but there are a few threads here on them. DO NOT BELIEVE ANYTHING THEY SAY- only in writing.

If they are saying they can CPO it then they are either getting BMW to do it (doubtfull) or are selling an aftermarket warranty and calling it some kind of cpo- IF IT IS THE LATTER, THIS ITSELF IS A MAJOR RED FLAG ON THE ENTIRE DEAL-If they lie on this, they will lie on anything.

Do not trust carfax. Have a BMW dealer run the VIN. Have a mechanic inspect it/

I note you said you are not ready for a "private party sale"- Bentley of donwers is worse than a provate party sale- they buy crap cars at auction and misrepresent them to unsuspecting buyers who fall for the Bentley name.

Just my humble opinion

 

[ard]

Has anybody done this - and for $1500? I'm being told that the cost to CPO a car (assuming it meets the qualifications) would be $3500!
Thank you.
Alfred

I was told by two different finance managers the cost is $1295 from dealer to BMW.

Add the labor to do the inspect inspection- $200

Add anything needed to bring the car up to spec (Alright you long time readers, stop your snickering...) Brakes and tires must be 50%+ (but BMW maintenance will not do brakes until they hit bottom (what 2,3mm? or 20%??) Any mods usually must be removed.

I had a dealer add the cpo for 1295 and paid them 500 or their troubles- they inspected it, I paid them, they then purchased it from the seller and sold it to me, all in a few hours. THis way there was no risk to them that something would 'blow up' and they'd be stuck.


A

 

[Stickman]

I was told by two different finance managers the cost is $1295 from dealer to BMW.

Thank you Ard! This is exactly the information I needed. Now I wonder if I mis-heard my fellow CCA member and BMW salesman when he quoted $3500. ouich

I will have to follow up with him! You are AWESOME!
Best Wishes,
Alfred

 

[CSBM5]

For what its worth, the leaser before turned it in and bought a new Bentley Coupe from the dealership. The dealership is actually a Bentley dealer in Illinois. I know it doesn't mean any thing but just providing some history of the driver before.

Be careful with "the story." Chances are probably just as good that this is a car they bought at auction. If this is that Downers Grove place, you may want to be extra careful (i.e. hunt the web for info on it).

 

[ard]

Thank you Ard! This is exactly the information I needed. Now I wonder if I mis-heard my fellow CCA member and BMW salesman when he quoted $3500. ouich

I will have to follow up with him! You are AWESOME!
Best Wishes,
Alfred

Just to clarify- you cannot 'cpo' a car unless it is owned by the dealer. There are BMW extended warrnties that run $3750 for the original owner to add, and after market extended warranties.

At the end of a least term, the dealership can buy it from BMWFS, cpo it, then sell it back to the original lessee who is now the owner... their cost is 1295 plus inspection.

They LIKE to say it costs 3500- and as we know if you repeat a lie enough it becomes the truth... (don't go there)



A

 

[bimmer23]

Actaully you are right. I am going to have to be extra careful then because that is the dealership (Bently of Downers Grove). Are they really bad ? I guess I need to do some more research.

Thanks

Guy- this is a NO BRAINER.

A BMW dealer only pays $1295 to cpo it- assuming it meets all the requirements of a cpo inspection.

Tell them you found another 03 with a cpo and you'll do that unless they can do this for 55,500. Done deal.

If the dealer will sell you without for 54, why wouldn't he cpo it for his cost if it will move the car? Makes no sense

Good luck

A

Edit- I thought "dealership" was "BMW"... sounds like you are buying it from those slimeballs at Bently of Downers Grove.. BE CAREFUL. They cannot be trusted- AT ALL, they will lie and misrepresent.

If it is not these guys, then apologies- but there are a few threads here on them. DO NOT BELIEVE ANYTHING THEY SAY- only in writing.

If they are saying they can CPO it then they are either getting BMW to do it (doubtfull) or are selling an aftermarket warranty and calling it some kind of cpo- IF IT IS THE LATTER, THIS ITSELF IS A MAJOR RED FLAG ON THE ENTIRE DEAL-If they lie on this, they will lie on anything.

Do not trust carfax. Have a BMW dealer run the VIN. Have a mechanic inspect it/

I note you said you are not ready for a "private party sale"- Bentley of donwers is worse than a provate party sale- they buy crap cars at auction and misrepresent them to unsuspecting buyers who fall for the Bentley name.

Just my humble opinion

 

[CSBM5]

I see you're in MD. You should contact m5guru, David, about his car. It is probabaly the best condition 2003 M5 you'll be able to find, and it is local to you. He posted a thread today on the board about it: http://www.m5board.com/vbulletin/showthread.php?t=57500

 

[davem3smg]

Bentley of Downers Grove is definately not a BMW dealership, which is why you aren't getting a CPO. You can also find them under the name Luxury Motors. It's pretty much the same dealership, but in the last year or so they became an official Bentley dealer. The dealership is about 10 minutes from my house. I go there quite a bit to check out cars and I've seen some that you definately want to stay away from and I've seen some that are great deals. I've spoken with the owner a few times and I think that he said they move about 150 cars a week. With so many cars going through there, they get their share of good cars and bad cars. Anyways, I think that you can find some really good deals there, but you have to be careful. If you want me to go take a look at the car that's not a problem at all. In fact, I could probably take it to the local dealer or my mechanic to have a more thorough inspection done. I've bought plenty of cars from Laurel BMW of westmont, which is 2 minutes from Bentley of DG, so I'm sure they would be willing to do an inspection for me.