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Discussion Starter · #1 ·
Does anyone have any experience having a BMW dealer obtain a CPO on an M5? I have heard a couple members here say that if I found a nice low mile M5 myself that I might be able to get a dealer to CPO this car. Does anyone know what a fair price might be for this? I am in Denver and I do not know any dealers here personally. I have two BMWs (99 M3 and 89 325IS) but I bought both of them thru individuals.

Also, is there a limit to what year of an M5 could be CPO'd? Also, is there a mileage limit? Other limitations?

Thanks! Steve
 

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I believe the car must be within the original factory warranty to be eligible for CPO inspection. I know it is different from dealership to dealership but I would say a good estimate to have a car CPO inspected is $500 - $1,500. Good Luck:)
 

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The dealers will also want a few hundred bucks as incentives to do so as well. I think CPO runs 6 years (from original in-service date) 100k miles. Thus if you are looking at a low-miles 2000 M5, the 6 years could expire sooner than the 100k miles. In that sense, the best value of the CPO program is with the 03, high mileage cars.

Good luck.

CP
 

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I think I gave you some tips, but let me post here also.

Technically, the car must be 'owned' by the dealer to add a cpo. They must inspect the car. Tires must be over 50% as must brakes. (The latter can be a problem as the maintenance policy will not cover brakes at 49%.)

The cpo costs the dealer around 1300. A cpo inspeciton should be 200- that's just to inspect, not do any work. It is my assertion that offering a dealer $500 (or so) on top of the 1300 to inspect, cpo and broker the deal is appropriate for 2 hours of work.

Do not rely on the cpo inspection to make a purchase decision. Do your own inspections first, be sure the car will pass cpo.

I went to the finance manager at 6 northern ca dealerships. Two accepted my terms. I was very up front with them, and made it clear that I was a committed buyer, cash deal, no-muss/no-fuss for them, easy flip, $500 plus 'credit' for turning an M5 for the dealer.

here is how I set it up:
1. I pay dealer $200 non-refundable inspection fee- if car doesn't pass, dealer keeps- if deal proceeds it goes to purchase.
2. Seller drops car off.
3. Car inspected and passes
4. Seller and I come in, I give dealer $$, sign off on car purchase.
5 Dealer 'buys' car from seller, seller signs over car
6. Paperwork sits in escrow for 45 minutes while dealer cpos car.
7. CPO all done, seller gets $$ and receipt, I get keys
8. I drive away happy
9. Seller goes away sad.

In this scenario the dealer avoids getting 'stuck' with a pruchase- and they avoid doing an inspection for free.

This plan evolved a bit in my discussions with the preferred dealer- I opened with 'want you guys to broker a deal and cpo it in the process- I'll do what it takes to make it easy, and you can make $500 on the deal'.

Unfortunately, once you buy the car it cannot be cpo'd 'legally'... therefore this needs to be done by a dealership close to the seller. I never met the dealer until I went to pick it up.

Here is another tact- I've heard that dealerships will do "re-finances" of a car coming off least and turning into a purchase. To keep BMW happy, the dealer buys out the lease, adds the cpo, and sells the car to the original leaseholder.... the dealer I worked with offered this service. and the clerk that helped me had experience with this. Maybe asking if they do this kind of process would help (a) identify 'players', (b) find you the right person at the dealership, (c) help them understand the kind of deal you want....

Good luck!

A
 

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Discussion Starter · #5 · (Edited)
Wow, very good advice - could you help me negotiate a deal? Pls call me at your convenience.

Steve

ard said:
I think I gave you some tips, but let me post here also.

Technically, the car must be 'owned' by the dealer to add a cpo. They must inspect the car. Tires must be over 50% as must brakes. (The latter can be a problem as the maintenance policy will not cover brakes at 49%.)

The cpo costs the dealer around 1300. A cpo inspeciton should be 200- that's just to inspect, not do any work. It is my assertion that offering a dealer $500 (or so) on top of the 1300 to inspect, cpo and broker the deal is appropriate for 2 hours of work.

Do not rely on the cpo inspection to make a purchase decision. Do your own inspections first, be sure the car will pass cpo.

I went to the finance manager at 6 northern ca dealerships. Two accepted my terms. I was very up front with them, and made it clear that I was a committed buyer, cash deal, no-muss/no-fuss for them, easy flip, $500 plus 'credit' for turning an M5 for the dealer.

here is how I set it up:
1. I pay dealer $200 non-refundable inspection fee- if car doesn't pass, dealer keeps- if deal proceeds it goes to purchase.
2. Seller drops car off.
3. Car inspected and passes
4. Seller and I come in, I give dealer $$, sign off on car purchase.
5 Dealer 'buys' car from seller, seller signs over car
6. Paperwork sits in escrow for 45 minutes while dealer cpos car.
7. CPO all done, seller gets $$ and receipt, I get keys
8. I drive away happy
9. Seller goes away sad.

In this scenario the dealer avoids getting 'stuck' with a pruchase- and they avoid doing an inspection for free.

This plan evolved a bit in my discussions with the preferred dealer- I opened with 'want you guys to broker a deal and cpo it in the process- I'll do what it takes to make it easy, and you can make $500 on the deal'.

Unfortunately, once you buy the car it cannot be cpo'd 'legally'... therefore this needs to be done by a dealership close to the seller. I never met the dealer until I went to pick it up.

Here is another tact- I've heard that dealerships will do "re-finances" of a car coming off least and turning into a purchase. To keep BMW happy, the dealer buys out the lease, adds the cpo, and sells the car to the original leaseholder.... the dealer I worked with offered this service. and the clerk that helped me had experience with this. Maybe asking if they do this kind of process would help (a) identify 'players', (b) find you the right person at the dealership, (c) help them understand the kind of deal you want....

Good luck!

A
 
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