Last post on Nov 25, 2013 at 11:14 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW X3, SUV
#1521 of 1854 Re: 2006 Lease End Purchase Decision [jura]
Aug 02, 2009 (9:59 am)
Follow-up to my earlier post... unfortunately, because BMW changed the residual value and incentives on the X3 effective July 1, BMWFS would not honor the original offer of a $5K discount off residual value of $28,300. The best offer I could get from my dealer was $24,600 after deposit. I then went to another local dealer and was able to get an improved offer of $24,100 after deposit with condition that I pay hardcosts of converting to CPO (i.e. inspection/warranty cost of $1,800 plus tires and any other reconditioning expenses). I then took this offer back to the original dealer and gave them an opportunity to retain my biz. They offered another couple hundred bucks off the buy out price, which I am now likely to accept. Just not sure if I will go with CPO. What I've learned from this process is that the market for X3's has really strengthened in the past couple months, which is surprising and annoying:) Good luck!
#1522 of 1854 Re: 2006 Lease End Purchase Decision [jura]
by kyfdx@Edmunds HOST
Aug 02, 2009 (10:02 am)
I think the market for used X3s as strengthened, because the lease cost for a new one is so high, that they basically can't be leased..
Unfortunate timing for those coming out of leases.. not just the '06 models, but cheap 24 month leases on '07s are coming due, as well...
#1523 of 1854 Re: 2006 Lease End Purchase Decision [kyfdx]
Aug 02, 2009 (5:28 pm)
My car has 36,600 miles on it with warranty expiring May 2010... would you recommend getting the CPO to extend the warranty? Does it add resale value? Also, do you have any suggestions for how I can negotiate the best deal on the CPO process (i.e. what I should push for them to cover as part of the "hardcost" $1,800 fee)? I know I will need to buy the tires separately and brakes if wear has <50% wear left... thanks in advance for any insight!
#1524 of 1854 Re: 2006 Lease End Purchase Decision [jura]
by kyfdx@Edmunds HOST
Aug 02, 2009 (6:24 pm)
The CPO warranty will be great for you... not too sure about resale value, as it only extends the warranty for 33 months from the end of your lease. If you aren't going to keep it that long, then I wouldn't buy it at all.
A pretty good discussion about end of lease options on an X3 starts here.
The gist of it is: Check with your dealer... they may make you a better deal than BMWFS. (Though, be warned... if your dealer buys the car and re-sells it to you, you will be liable for end-of-lease charges).
#1525 of 1854 07 X3 CPO Fair Price?
Aug 08, 2009 (9:35 am)
My sister is considering a CPO'd 2007 X3si, 26,500 miles, with cold, trailer/camper package and 18" wheels, privacy glass black/black leatherette. It's a one-owner, local lease return. Maintenance records reflect the following work done since new:
Replaced defective radio
Replaced steering wheel (possibly related to defective radio?)
Replaced defective muffler.
Dealer's sticker asking price is $32,990.
Clearly, they're going to have to negotiate. I'm not terribly concerned about the stuff that was fixed because she'll still have about two years left on the original warranty and then will go into the CPO for the remaining two years.
Any thoughts would be very much appreciated! Her oldest brother (me) has owned a 2002 530i and a 2001 740i, and we're almost there in converting her but she's got to have the right deal.
#1526 of 1854 Re: Buying back after the lease [moneyball]
Aug 20, 2009 (5:37 am)
I am just starting to look at x3s. Went to the dealer and they are offering a 2006 x3 premium package, and xenon lights with 34k miles. It has extended warranty, and brand new tires.
Offered at 27.9k.
Their initial offer was to take off about 300 $.
Considering what I have read so far I would think they should be able to get below 25k. What is a fair price for the car?