Last post on Jul 28, 2013 at 1:08 PM
You are in the BMW 5-Series
What is this discussion about?
BMW 5 Series, Car Buying, Sedan
#109 of 400 Re: 2004 530i Lease return [shipo]
Jan 10, 2008 (4:47 pm)
I'm not sure I understand the question. Could you please rephrase it?
I guess what I'm trying to ask is, should I be more cautious knowing that the car I'm looking at was a returned lease?
Also, I have read a couple of times about BMWs being certified beyond the usual warranty, should I assume that would only be true for cars that were bought? I'm assuming a leasee would have no interest in an extended warranty.
#110 of 400 Re: 2004 530i Lease return [bristol2]
Jan 10, 2008 (6:04 pm)
I think I've found where you've posted your questions.
I wouldn't worry about buying a lease return BMW simply because the maintenance during the lease period is free so the chances are extremely good that any lease return vehicle has been maintained properly. If you're not sure, typically the dealer will print out the entire service history of the car.
By buying a used BMW from a BMW dealer, there is a good chance the car has been CPOed (setup as a "Certified PreOwned vehicle), and as such it will come with a limited 100,000 mile warranty. Said warranty isn't as good as the bumper to bumper warranty of the new cars, however, it covers most of the expensive bits. I believe that you can opt to buy both a fully B2B warranty as an extra cost item (I don't recommend this) as well as an extended maintenance plan that covers all maintenance up to 100,000 miles. The extended maintenance plan is a pretty good deal, especially if you aren't inclined to do a lot of your own maintenance.
#111 of 400 Re: 2004 530i Lease return [shipo]
Jan 10, 2008 (6:24 pm)
I'm definitely not an 'own maintenance' guy unfortunately.
I would be buying from Carmax so it sounds like the CPO is out of the question.
I am not a believer in buying extended warranties but I have heard that Carmax offers a competitive one for Bimmers (the buyer goes to a BMW dealership and carmax pays them). We do have a great private shop that specializes in BMWs in my town so I really need to get a good handle on what I can project costs to be since the car would be out of warranty.
#112 of 400 Re: 2004 530i Lease return [bristol2]
Jan 10, 2008 (8:28 pm)
I believe for a BMW to last it has to be serviced more often than current BMW recommendations. I also believe following BMW recommendations will increase repair costs over time, like the old Fram commercials.
My experience is to budget $1500 per year for maintenance. I did not purchase extended warranties or maintenance plans and I paid $1400 for services and repairs that would have been covered by either. All warranty and maintenance plans have profits and commissions included in their cost. Most people will come out ahead self insuring.
#113 of 400 Re: 2004 530i Lease return [530ir1150r]
Jan 11, 2008 (5:26 am)
From your earlier posts, you suggested an oil change every 7500 miles- is that correct?
Given that the car is at 31k miles, what are the immediate service steps I would have to take? It seems that the first major service would be due, I imagine that the previous owner did not take care of it right before getting rid of the car.
Do the manuals have any differences in services?
#114 of 400 Re: 2004 530i Lease return [bristol2]
Jan 11, 2008 (5:56 am)
A leased 2004 probably has had annual oil changes and possibly the brake fluid changed after 2 years.
I have the oil changed at 7500 mile intervals, brake fluid every 2 years, power steering fluid every 3 years and coolant every 4 years. With previous cars with automatic transmissions, I change transmission fluid every 30,000 miles. My guess is it is time to do everything. At 30k I also changed the air filter and micro filter.
Check Bimmer or Roundel, Tech Reporter, for maintenance recommendations.
#115 of 400 Re: 2004 530i Lease return [bristol2]
Jan 11, 2008 (6:41 am)
I am going from a loaded v6 Accord sedan with 6-speed, giving up approx 20 hp with the move to the BMW. Will I be disappointed by the get up and go?
Did you drive the car? I also drive a 6-spd accord sedan. I recently test drove a 330Ci automatic and thought, even with the auto, it blows the doors off my Accord. Its not all about HP numbers. What I find with my Accord is that the power is pretty peaky. Not as bad as some cars, but it certainly pales in comparison to the fat wide power curve of the BMW.
Not to mention the Accord is VERY hard to launch in a manner that we would ever see the published 5.9 sec 0-60 number due to the aforementioned peakiness and the total lack of traction that FWD provides on acceleration. It is probably more like 6.5 secs. The 5-series is a bit heavier than the 3'er I drove, but I still think you will be more than happy ... especially when you hit any turns.
#116 of 400 Re: 2004 530i Lease return [qbrozen]
Jan 11, 2008 (9:14 am)
Great feed back!
I hope to test drive late next week.
I have a great commute, approx 70 miles at an average of 70mph with some twisty stuff. That is why I am so tempted to get out of the 'sensible' car I am in and into a potentially expensive and risky choice.
#117 of 400 Just bought a 2005 545i -- Why do I feel that I am getting too good a deal?
Jan 12, 2008 (9:21 pm)
Just got back from the dealership and signed the papers to purchase a Certified Pre-Owned 2005 545i. I did my research beforehand and consider myself a pretty good negotiator, but I can't help wonder if the deal I got was a little "too good". Here's what I bought (and will be picking up on Monday):
CPO 2005 545i -- 42,000 miles
Orient Blue Metallic/Beige Dakota Leather
Premium Sound Pkg
Cold Weather Pkg
Power fold-down rear seats
New tires & car is in excellent condition
Clean carfax (no accidents -- this is also a requirement to be CPO)
I bought it for $34,400 + tax/tag/title, which is nearly $10,000 less than the value stated by Edmunds and Kelly Blue Book. I don't know if it's typical "buyer's remorse" (how could it be with this beautiful of a car?), but I am hoping someone can tell me that I just got a great deal and be happy with it. Thanks.
#118 of 400 Re: Just bought a 2005 545i -- Why do I feel that I am getting too good a deal? [mike1005]
Jan 13, 2008 (7:35 am)
You got a GREAT deal. Be happy with it!
Since you went CPO, you have very little risk in terms of repair issues. It seems like you got a great deal and a great car.