Last post on Nov 23, 2013 at 6:17 AM
You are in the BMW 3-Series
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BMW M3, BMW 3 Series, Motorsports, Engine, Suspension, Car Buying, Coupe
#524 of 762 Re: How does CPO work? [kyfdx]
Aug 22, 2010 (6:25 am)
Ok that makes sense....thanks dude!
I am looking at a 2010 loaner whose warranty ends Nov 2013. I am thinking of getting extended warranty as I plan to have the vehicle for atleast 5 years if not more. Can someone recommend what kind of warranty to go for - in terms of price, coverage etc. Is this something that BMW offers or is it something that the dealer offers? Lastly, would you advise getting the ext warranty right away or wait till the original expires in 2013 and shop for it at that point?
Thanks for your time!
#525 of 762 Re: How does CPO work? [bmw_gss]
Aug 23, 2010 (9:57 am)
CPO is not an extended warranty...it is only offered through dealerships.
It usually has additional 'features' that are not included on an extended warranty -- I'm only familiar with the Lexus CPO...which includes the same % APR as new vehicles, road side assistance (with coverages for hotel stays), rentals, etc...a bunch of 'stuff'
Extended warranty companies can go out of business (there was a recent one which went under; can't remember the name)...whereas automobile companies can be too big to fail (GM's are still honored).
I did a CPO...probably wouldn't again. If you need to sell you car earlier (for whatever reason)...you'll be "upside down" because your purchase price was so much higher than comparable vehicles without the "warranty".
long - short story--I had starting issues, took the car to the dealer, they replaced the battery and starter button (I thought...good a free new battery). Less than a year later I had starting problems again and it turns out the 'new' battery they gave me had bad cells. Since the dealer gave me the battery I didn't have the battery warranty...and the dealer coverage period for batteries only went to 50K...i was just over that mileage...so too bad...you need to buy a battery. I went to sears to buy a better battery for $110 instead of the $180+ for bottom of the ladder, cheapo one they offered...
Although if my transmission goes out...after the power train warranty expires (which are usually pretty long)...then I may recoup my CPO costs. If this does happen, I suspect they may be another caveat that disqualifies the coverage...cynical...
I think extended warranties are more about 'feeling good' than actual coverage...I'm beginning to think i'd "feel" better with my money in my pocket
I'm not certain if extended warranties are transferable or reimburse if you cancel early.
What type of car? Options?
#526 of 762 Re: How does CPO work? [ivan_99]
Aug 23, 2010 (11:30 am)
Thanks Ivan. This is a 2010 328 XI with 6K miles - has the premium and value pacakges on it. So far got it to 33K, trying to get it down a bit more - do u think thats good enuff or there is room? Warranty ends 2013, so was not sure if I shud get the ext warranty which is what u responded to. Need to chew on what u suggested, leaning to not going for it...
#527 of 762 Re: How does CPO work? [bmw_gss]
Aug 23, 2010 (11:54 pm)
When I do an autotrader & carmax search i find nothing that is close to 33k.
Seems like a fabulous price...but if there's still wriggle room then more money in your pocket.
If you're going to keep the vehicle for a long period of time I can see some 'potential' benefits...A co-worker of mine keeps his cars for 10 years, but never buys extended warranties (a Ford to 250k+ miles)...Now in a G37 coupe.
I had a Q45 a couple years ago which i purchased used. The previous owner had all documentation. The previous 18 months or so he spent over $7k for repairs. I had another $400ish...for one year before it passed away (murdered by a tree)...
If you keep it for 10 years it would be a shame to get to year 8 and have to replace anything major; but the 3 series seems to have a pretty good reliability record.
I suppose with an extended warranty you're guaranteed to have costs (the initial anyway) whereas if you 'chance' it you may or may not spend more than your initial outlay.
#528 of 762 2006 BMW 330xi
Aug 25, 2010 (4:18 am)
I am thinking of purchasing a used 2006 BMW 330xi and I'm hesitant. I've never owned a BMW before and I understand the cost of repairs can be high. I was wondering if anyone knows of any common problems with this particular model and if there's anything I should be aware of prior to purchasing this vehicle. The miles are a little bit high, so that's a concern for me as well.
Aug 25, 2010 (10:43 am)
How many miles are on the car? What is the asking price? Are you buying from a dealer or private owner? Is the car stick or automatic?
High miles on an E90 330xi wouldn't bother me as long as the vehicle has documented records of it's service history. Have a pre purchase inspection done by a BMW dealer or independent mechanic who specializes in BMWs.
If everything checks out ok, then join BMWCCA to receive a fantastic magazine and get discounts on parts.
If it doesn't check out, don'tbe afraid to walk away. There are plenty of '06 330xis out there.
#530 of 762 Re: How does CPO work? [ivan_99]
Aug 26, 2010 (3:37 pm)
Did you say the 33K was good for OTD? Coz I could not get it any lower, so its 33K for a 2010 (328xi 6k miles - premium, value, heated seats, heated steering wheel)....comes out 36 OTD price. Still think its a good deal?
It has about 3 years 3 months on the warranty left, so I think I will not for the extended warranty just yet.
Also, if I decide to get extended warranty what is recommended - there seem to be so many packages? Also are these packages dealer driven or BMW driven?
#531 of 762 Good price for a 2007 328xi?
Aug 26, 2010 (5:18 pm)
I'm considering purchasing a CPO 2007 328xi (about 30K miles) with premium package (heated front seats, bluetooth, BMW Assist) and wonder what a fair price is.
How much room do dealers have with this type of car? There seems to be a lot of them listed in the inventory I've found on line. . .
How much does location factor into this? I'm between NYC and Philly.
#532 of 762 Re: How does CPO work? [bmw_gss]
Aug 26, 2010 (9:22 pm)
When I plug those options into Edmunds TMV I get
Plus it shows a $2k Manufacturer to Dealer rebate...which I believe is included in the TMV of $35,3K.
This was for a manual...add $1,300 to all figures for auto.
So if all others "could" get the same vehicle for 35.3k then you're getting a 'deal' of $2,300...for 6k miles (may be a hard 6k...or not)
Or...you could look at it like MSRP 39,365 - 33,000 = $6,365 saving...some people do pay sticker.
It's a small saving...approx 6.4% off of the TMV price, but the TMV is already below invoice.
#533 of 762 2008 335i CPO Price
Aug 27, 2010 (6:38 am)
I am currently shopping for a CPO 335i and this is what I found.
Asking price = $32900
After 1st round nego. = $31800
2008 335i Coupe
Cold Weather Package
Comfort Access Keyless Entry System
The only thing that I am not sure with this car is that its carfax shows 3 owners. It was originally a dealers demo car and then it was leased out. The lease was then transfer to another guy. Should I be concerned with this?
What's the fair price for this car?