Looking at an '05 525i. Packages include:
- Automatic transmission
- Premium Package
- Cold Weather Package
- Xenon Lights
- Satellite radio prep
- Olivian Green (?) exterior
- Beige interior
- Certified Pre-Owned
- 22k miles
What would be a fair price to offer? It's on the lot for $38755. It's a dealer "loaner" car - anything I should be concerned about there?
This will be my first BMW if I purchase tomorrow. Hopefully I can keep my wits about me during the negotiation :-)
Thanks in advance...
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| Reply » fair price for '05 525i |
First of all calculate the US and European Delivery (ED) invoice MSRP of a new car similarly equipped using the pricing info in the sticky posts from the Ask a Dealer Forum. This car is two model years old. So I would not pay more than 75% of US invoice of a new car and would seriously consider doing an ED on a new car. You can get an ED car for less than $1500 over ED invoice which will make it around $45K; plus you can get the car you want exactly.
The 2006/2007 cars have the newer more powerful engine on the 525. Dealer Loaner cars are in general not as nicely driven as owner owned cars; people will push them more.
Also keep in mind your driving needs. If you plan to put 20K miles/year then the CPO with 80K warranty left make sense. If you are putting 12K/year then going for a new one with free maintenance/warranty till 50K/4 years make sense.
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| Reply » fair price for '05 525i |
If it was really a dealer's loaner car, I would advice you to stay away from it. The car has probably been mistreated by hundreds if not thousands of different customers over its lifetime simply because its not their car. Additionally, if you are a non-smoker, you will have to worry about various people smoking in the car as well. I have heard of dealers getting loaners back with trash everwhere and also in an extreme case, baby puke! So to sum it up in one sentence - stay away from that car and go find a proper CPO car that just came off from a lease.
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| Reply » fair price for '05 525i |
We purchased a '05 525i approximately 6 months ago with 6,000 miles on it and it was driven by one of the sales managers as a demo car. When we purchased the car BMW added additional mileage to compensate for the mileage that was already used by the dealership. If this can't be done, maybe you can request them to have the car certified with a 100,000 mile warranty. The dealer cost on this (or what they would charge a customer is approximately $1,800. Also, in part of your negotiations is to have them extended the BMW free maintenance also to 100,000. I believe this charge is close to $2500. Also, BMW SOS is free for the first year on a new car (or once a car is titled), you will not receive the free year on this if it has been over 1 year since it was titled.
Let me know what happens or if I can be of further assistance.
--Don
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| Reply » fair price for '05 525i |
CPO costs are less than what you quoted as long as the car does not require reconditioning. And maintenance is $1000-$1200 and not $2500. Your dealer seems to taking you to the cleaners!
Your 550 is cool BTW.
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fair price for '05 525i