Buying a new used certified BMW have questions!

[skgolfer]

Hi all, buying a 2003 certified 330xi. Comes with CD, Premium package 17" wheels, Cold weather package, HK sound and a few other doodads. 28,000 miles. Dealer asked 31,900 and has settled at absolutely no lower that $29,900. What do you all think of the price. The car seemed awesome. Any concerns I should be aware of. I am a Bimmer newbie. Thanks for any help.

 

[Kirby]

Run a CarFax on it just to be safe, and make sure all recall work has been performed. The price is decent, they are giving you a bit of a discount.

 

[William330]

Most of the time, I think BMWs hold their value too well to buy used.

I paid $9,000 more than that for my car new, ordered from the factory with exactly the color and options I wanted.

 

[drkeng]

William makes a good point. I bought a 2000 323 Cic (convertible) with about 18K miles in April 2002 as a Certified Preowned for $37K; probably overpaid, but there were very few low milage CPO convertibles available and it was spring in Chitown. I probably could have bought a new 325 for $45K at that time (just guessing), since 2 years later I traded that car (won't even tell you what I got for the trade-in ) for a new 2004 330 Ci that went for $50K.

So, if you could afford it, you may want to consider a new car.

Another option, since you only have about 1 year of the full warranty depending on the "in service" date of the car is to buy a newer used car from a private party. Don't forget the extra 2 years warranty on the car you're looking at are somewhat limited and also, I think, have a deductible. You may be able to buy a newer used car from a private party instead of a dealer; you'd have the remainder of the factory warranty and could avoid sales tax and dealer profit. You could always buy an extended warranty; the cost is built in to certified preowned car, anyway. Of course, it's somewhat riskier, but something to consider.

Good luck and keep us posted.

 

[sjdubya]

Buy New

Last year I bought a new 2005 330XI fully loaded for $38,000. Every option too. I'd buy new if you are already looking at $30,000 used with 28K miles. Actually seems to ohigh for the year, but maybe not. Good luck.

 

[skgolfer]

All

Thanks for the input. I went ahead though and did the deal. They took off another $500. So I got the car for $29400 plus they gave me $800 more for my trade than other dealers offered. A couple of other factors...I had set a pretty firm budget of $30k for myself and because it was a 2003 there was special financing available....3.9% for 36 to 60 months and BMW pays the first two payments (which in effect was another $1500). So I figure my net cost really at about $28k (before not after trade). The CPO will cover the car until 10/09. $50 deductible after 50k miles.

So what do you think, did I rationalize my purchase fairly well..lol. They really did a nice job in the certified program. The car seems brand new. Hopefully I'll get many happy years. Thanks again.

 

[William330]

So what do you think, did I rationalize my purchase fairly well..lol.

Yes, I think so.

Enjoy your new ride!

 

[nunya53]

I suppose it depends on whether or not YOU think you got a good deal...

It doesn't sound bad, and if you like it, then you got a good deal. No matter how much you did (or didn't) pay, there is always a story of someone getting a better deal.

I think you did alright.

Jerry

 

[320iFunCar]

As someone who recently went thru what you just went thru, you do well if you're in the ballpark with "blue book" or local value/price of the car AND you are happy with the perks and extras. With the final dealer incentive discount on the price and the increased trade-in amount, and the BMW loan giving you the first 2 payments, sounds like you did well.

Can I ask you to elaborate a little more on the BMW subsidized 2 payments? Was this for late models, or a time-period offer, or something else?

 

[tuthpic]

If it makes you feel better, I just bought an 03 330i (premium package) last weekend for $26k eith 44k on it.
The reason I felt it was a good deal was for the warrenty and as you said, they interest rate. as for the 2 first payments, they gave that to me too, but they used it as a barganing chip.
I wonder if it was part of the offer with the interest, or what.

 

[skgolfer]

The BMW first two payments free was a one month deal that BMWUSA offered through its financing unit. It was good only on 2003 certified vehicles (may have been limited to the 3 series as well...not sure though). Of course it was only good if you financed through them but at 3.9% it was worth it. They shouldn't have used it as a bargaining chip as tuthpic mentioned because it was a corporate and not a dealer deal.

 

[Detrich]

wow, prices have really gone up it seems... when i bought my car new back in 1998, i think i paid around $35.5K out-the-door. and, even then i thought i overpaid due to the high market demand. ack!