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BMW X3, SUV
#344 of 1854 Re: BMW X3 3.0i -2004 - help me with pricing [bmwksr]
by kyfdx@Edmunds HOST
Oct 21, 2004 (6:31 am)
Is it at a BMW dealer? If so, ask him to fax you the vehicle history report and a CARFAX. The vehicle history report will have the warranty expiration date, options on the car, and any service done on it..
I really have no idea on price.. I would try to compare it to what you could buy a brand-new '04 for.. and subtract at least $4K-$5K.
If it is CPO, the only thing I would worry about is previous accident history.. I still wouldn't buy long distance and have it shipped.. I would fly in and drive it back.. and reserve the right to cancel the deal upon inspection of the car.
How far away is the car?
#345 of 1854 Re: BMW X3 3.0i -2004 - help me with pricing [kyfdx]
Oct 21, 2004 (12:44 pm)
Thanks for your prompt response and advise.
1. yes..this is owned by a BMW dealer. I checked Car fax with the vin number and no accident reports are there.
2. yes it has a CPO. She said it is a Demo extension warranty and CPO. it is 1500 miles away from me.
3. What might be the price..2004 x3, with premium package, privacy glass and 11000 miles. she is asking 36K.
Will await for your advise.
Oct 21, 2004 (1:09 pm)
My first inclination.. The price is a little high.. A brand new '05 would only MSRP for about $41K.. Granted, you can't buy it for $36K, and it won't have the extended warranty, but it would be brand-new and one model year newer, as well.
I'm not necessarily against going out of town to find a car (I've done it myself), but 1500 miles is a long way.. Too far to fly in and get it home the same day.. Almost too far to make it home the next day. If you have to pay to have it shipped, that is even more money..
Buying a new car from halfway across the country is one thing.. New cars are basically all the same... but, buying a used car without being able to drive and see it first...
I think I would pass on this deal.. Not worth going that far unless it is a screaming deal.. Unless you have a short time-frame, you might wait until there are plenty of '05s on the lot and then shop around...
Just my $0.02.... I've been wrong before.
#347 of 1854 Re: BMW X3 3.0i -2004 - help me with pricing [bmwksr]
Oct 21, 2004 (1:44 pm)
Thanks and I planned to let it go. I found one more and is a similar one and following are the details.
1. BMW dealer, 2004 X3 3.0, premium package,privacy glass, metallic
2.mileage:7000, asking price $35K, CPO vehicle.
3. Again the deal is it is 1800 miles from my place.
4. I checked the Carfax, No scary things on the report
and...will follow the routine. will await for your advise.
Thanks alot for your help.
Oct 21, 2004 (9:41 pm)
Here's a deal I was offered. It doesn't seem to add up...
2004 X3 3.0
Residual Value $24,334.55
Cap Cost $38,740
Cash Cap Reduction $4958.12
Trade Allowance $-7758
Bank Fee $725
Adjusted Cap Cost $42,264
Total Monthly Payment $586.00
Base Monthly Payment $541.34
Cap reduct Tax 8.25% $409.04
Use Tax $ 8.25% $ 44.66
DMV Fee $307
CA Tire Fee $5
Customer Cash Down $6265.16
They swore up and down that they were not rolling negative equity into the loan, but it just doesn't add up. I know it's a bad deal just because the difference that would need to be paid to get out of my current lease would not be justified by the total monthly payment, which would be identical to my current lease payments. I was just wondering how they came up with these figures. My payoff is $35,250 and they said they could offer me $28,000.
Oct 22, 2004 (6:46 am)
I'm not a leasing expert, but I think they can argue that they're not putting negative equity in the new deal by virtue of your "cash down" being approximately equal to the "trade allowance". I don't know if it is a good deal or not, but the numbers look kosher to me.
Oct 22, 2004 (6:56 am)
Trade allowance: -$7758
Cap cost reduction: $4950
You are paying $4950 of your negative equity off and they are rolling the other $2800 into your lease..
Is your current vehicle leased or do you own it? Unless you are just dying to get out of it, I'd keep driving it.. That is a big hunk to swallow.
Also, it looks like they are bumping up the money factor in lieu of a security deposit.. In the long run, you are better off making the security deposit and using the base MF (.0005).
Their numbers look accurate on the lease, but you are paying $7758 to get out of your current car.. I just wouldn't do that, but that is up to you.. Bargain hard.. if you are going to do this, every dollar you save is going straight into your pocket..
#351 of 1854 Re: BMW X3 3.0i -2004 - help me with pricing [bmwksr]
by kyfdx@Edmunds HOST
Oct 22, 2004 (6:59 am)
1800 miles!! Jeepers, where do you live, Alaska?
I like the low mileage... Again, have them fax you the BMW vehicle history report.. There are a lot of things that don't show up on a Carfax, but if they have done any maintenance or mechanical work, it will show up on the BMW report.
Seriously, how far away is the closest BMW dealer?
#352 of 1854 Re: [kyfdx]
Oct 22, 2004 (7:17 am)
I don't understand why people feel the need to lie. I told them up front and several times thereafter that if the gap between what I owed and what I could get was too great I would have to wait. Under no circumstances did I want to roll negative equity into a new loan. They swore they were not doing that.
In answer to your question, kyfdx, It's a 5 year lease... a big mistake that I'm trying to get out of. Now that I know that the trade-in is going to be too expensive I'm attempting to sell it privately to close that gap.
Oct 22, 2004 (7:26 am)
It must be a fairly new car... If you drive it a couple of years, the amount to get out of it may be less.. Getting out of a bad deal is sometimes more expensive than just completing it.
But, if you can get more $$ by selling it yourself, then that is the way to go... If not, eventually you will break even (when the lease is up).