Last post on Nov 23, 2010 at 10:15 PM
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BMW 7 Series, Sedan
#132 of 171 Used BMW 750i Luxury - Please Help
Aug 31, 2008 (6:54 pm)
I'm thinking about buying a 2006 used 750i Luxury--not sure what the "Luxury" entails within the car. My concern is that it's at a BMW dealer but it's NOT certified. The dealership is closed right now so I can't contact them to find out why it's not certified. They have other cars there that are certified. I looked the car up on Carfax and it's had one owner in GA which that is where I'm planning on purchasing the car. My question is why would a 750i not qualify for a CPO? Also, it has 43K miles on it, but it was bought in August 2005. So that's less than 15K per year. Does anyone know the true value of a non certified BMW? I know that a non CPO is cheaper than CPO, but how much cheaper should it be? How many miles will this car last? 100K? 150K? Of course this car will be maintenanced at a BMW dealership at every service intervals. Can I get an extended warranty on a non CPO car? What is the average cost to have the car serviced? According to Carfax, in February 2008 the front and rear brakes pads and rotors were replaced? Should I expect other wear items needing to be replaced soon? One thing that caught my eye on the Carfax report was at the last dealer service date it just says "Vehicle serviced; seatbelts checked." Would this might have meant the car was in some type of an accident? I live in the southeast. In fact, I used to work at BMW manufacturing in SC. We make the Z4, X5, and now the X3 in 2010. Any other suggestions before I decide to purchase this car would be of great help and greatly appreciated.
Thanks in advance for your assistance!
#133 of 171 Re: Used BMW 750i Luxury - Please Help [kspain]
Sep 03, 2008 (5:44 pm)
hmm. I am also like you considering getting a used 2006 750i
if you check ebay motors
you will see there are a big bunch of them .. and some are priced in the low 30s..
thats cheap, there were 75-80K and now 35K. they lost 40K in 3 years depreciation. wow !
I would say most of them are coming off 3 year leases. and have been sold to auctions.
while talking to a dealer, he suggested that best would be to get a car which has not run out of warranty and then buy 4 year 85 K or 100 K additional warranty.
I ran some quotes of warrantydirect.com and for a 49K 2006 car it came like 3000$.. not bad. as that will cover most of the big ticket item repairs
so , how would this deal be. we pick up a 750i for say 35K and add the warranty. and have peace of mind for next 4 years?
also what I want to know if some one can give me a approximate figure of the servicing required for a 2006 for the next 4 years. ONLY for routine maintenance.
taking it from 50K to 90K.
BRAKES 300-400 bucks a year ?. 2000 for 4 years.
60K servicing.-a dealer told me it cost 1600$
what else. say tires. 600-800 each 3 years?
90 K servicing. ? 2000 more
add another 1000 unforeseen ?
hence will it be . 7000 ballpark ?
thanks in advance.
#134 of 171 Re: Used BMW 750i Luxury - Please Help [jkutti2000]
Sep 04, 2008 (2:45 pm)
I'm driving 200 miles to look at a BMW 750i tomorrow. It's at a BMW dealership and has been fully inspected by them. It has 43K miles on it, and they are asking $35K. I'm going to get the extended warranty for $4,900 with a $0 deductible. This covers everything except for wear items. The contract is good for 4 years/100K miles. But I'm also going to buy a maintenance warranty for $1,800 which covers all wear items except for the tires and all service maintenance items. I know for brakes and rotors cost around $1,100. I'm not sure that if you buy a BMW from a private seller if you would be able to purchase the service (maintenance) warranty. You may want to check into it.
#135 of 171 Re: Used BMW 750i Luxury - Please Help [kspain]
Sep 04, 2008 (6:56 pm)
I too am looking at used 750's and am amazed at the relatively low prices. I would beware though of any other warranty other than a BMW CPO. However, the CPO has its limitations. It is only good for 6 years or 100,000 miles after date when it went into service.
Wouldn't the money-saving plan with the most BMW official warranty coverage be to buy an 06 750i , not the more expensive 750iL, with a entered into service date of say January, 06 and the CPO coverage? You'd get 3.5 more years of BMW warranty coverage.
On the other hand, I can't help but think that the economy isn't going to get any better and used 7 Series prices will take a hit this fall when a re-styled 7 Series makes its debut and the current 7 Series will no longer be the current style.
Finally, for anyone contemplating a 7 Series who lives in New England, we should factor in a complete set of winter tires and wheels. A package from the TireRack could easily hit $1500!
#136 of 171 Re: Used BMW 750i Luxury - Please Help [blckislandguy]
by MrShift@Edmunds HOST
Sep 04, 2008 (7:15 pm)
If you buy a 7 Series, you have to accept a very high level of depreciation. It just comes with the beast, no matter what the year/model, good economy or bad.
#137 of 171 Re: Used BMW 750i Luxury - Please Help [blckislandguy]
Sep 05, 2008 (4:47 am)
Yes, I also thought of that. ie try to buy a late 2006 model.
but you see. the 81 cars or so you see on EBAY. ie. nationwide. the exodus of 750 2006 models which have come up. they are mostly. lease returns. and I have browsed thru most of them. they all are put into service july-Aug.2005 time frame. Hence if we want a jan -apr 2006 model. it will have to be from a private party or a lease breaker..
Also, the CPO warranty. ? I dont thinK see it on any lease returns. Why would a leaser be even offered CPO. hmm. I think it is some thing they can add only if the seller agency is a BMW dealer?
Sep 08, 2008 (5:34 pm)
A large local newspaper would like to speak with consumers who currently own or had owned a BMW 7 Series since the 2002 model came out. The reporter wants to discuss topics such as the Bangle butt and the iDrive. If you are interested in speaking to the reporter, please respond to ctalatiedmunds.com with your daytime contact information no later than September 15.
#139 of 171 Re: Used BMW 750i Luxury - Please Help [jkutti2000]
Sep 11, 2008 (6:27 pm)
Good research. It makes sense that most leased cars would go into service very early-on in the model year to minimize the depreciation.
I wonder what it costs the BMW dealer to CPO a 7 Series? Maybe $1500 in paperwork with BMWNA plus whatever parts and labor is required? But since all BMWs come with free maintenacne you would expect that all the cars coming off lease would be up to snuff maintenance wise.
I think you can snag a fairly good low mileage 2006 750i or 750iL for 41K. Thats got to be a better deal than a new 5 Series for 50K.
#140 of 171 Re: Used BMW 750i Luxury - Please Help [blckislandguy]
Sep 12, 2008 (5:28 am)
i did not think about it from that perspective.. ie. that the cars have been dealer maintained.. some times they say that leased cars are not taken care of properly, but this wont be the case for BMW..
and yes, I agree a new 5 series. cost like 50s.
why settle for that, if u can get a 7 series. for 35K.. look on EBAY, I see 92 2006 750 cars listed... some of them in the 32 to 37K range..
one car dealer told me. make sure u buy a car which has less than 49999 miles. becuase u can still get addl warranty on it. easily. dont let the orig warranty lapse and then add another 4 year 100K warranty or some thing like that for 3-4K. additional.
one more suggestion. : how about getting a low mileage 2005 745i and getting the addl warranty for 4 yrs. 100K... but I dont see too many 745i on sale...
the 750is will be rolling. even more of them.. as they keep getting off lease...
#141 of 171 Re: Used BMW 750i Luxury - Please Help [jkutti2000]
Oct 21, 2008 (9:35 pm)
I am in the same situation as you, im purchaing a 750Li 2006.
Looks like you can pick one up CPO at a dealership for around 40k excluding TTL w/ 35k miles average.
To add to this, you get 1.9% APR w/ 2 months free payments!
BUT the problem is I can get the same car private party or 3rd party dealership for 35k!
NO CPO no ext warranty, no maintainence pkg.
What to do?
Anybody recommend 3rd party warranty companies? Do they honor their word?
Can I still purchase the maintainence plan 100k 6 years if I purchase from a 3rd party? (This is different then the CPO warranty). This covers oil changes, brakes, etc. ??
Does anybody have costs for me? What shoud I expect for maintainence plan? What is the cost for warranty plans?