Got rear-ended, fixed but on Carfax, lease up, buy?

enfield · 09-13-2011, 07:59 PM

Hi guys and gals. I have a leased 2008 E92 M3. The car has been flawless. I got rear-ended and the car was fixed for $3349 - new bumper, new heat shields, new egg crate sort of thing between the bumper and the car etc. The car is listed on carfax because the damage was over 3K and the car cannot be CPO'ed. However, the dealer is seeing if they can make an exception & get it CPO'ed.

I had been thinking, very seriously, of buying it at the end of the lease for a little under 36K. At this stage I am thinking of walking away. I do not plan to keep the car forever. I was thinking of keeping it for 5 years total (for another 2 years) and selling it while still under the CPO warranty. I know I will take a hit upon sale even though there was no structural damage - specially if I cannot have it CPO'ed.

What would you do? I'm thinking of returning the car at lease end.... Your suggestions would be most appreciated. Thanks!!

Gearhead999s · 09-13-2011, 08:37 PM

Was it repaired at a BMW approved body repair shop?If it was then there should not be an issue to get the car CPO'd.

GMW · 09-13-2011, 08:52 PM

I'd let it go. Just the pure fact that it's on the Carfax. I'd let the stealership deal with that excess baggage.

enfield · 09-13-2011, 09:17 PM

Quote:

Originally Posted by Gearhead999s

Was it repaired at a BMW approved body repair shop?If it was then there should not be an issue to get the car CPO'd.

Yes - it was repaired by a BMW approved body shop. I was told to use them by the Service manager at the dealership. So - it should be okay for a CPO - but would you get it or walk because of the carfax issue?

Quote:

Originally Posted by GMW

I'd let it go. Just the pure fact that it's on the Carfax. I'd let the stealership deal with that excess baggage.

I suspect most prospective buyers would agree with you.... if I was trying to sell a 2008 E93 M3 with a CPO warranty that was on carfax. I probably won't get what it's worth....

JulieDriving · 09-13-2011, 09:28 PM

Didn't think it was possible - in Canada (I know it's done in the States) - for someone buying out their lease to get their car CPO'd by BMW. Thought CPO'ing was something only the dealers could do for a car they're trying to re-sell......

enfield · 09-13-2011, 10:08 PM

You can get your car CPO'd here at the end of the lease. The cost is around 3.5K but I believe some have paid 3K for getting their cars CPO'd.

Gearhead999s · 09-13-2011, 10:13 PM

Quote:

Originally Posted by enfield

Yes - it was repaired by a BMW approved body shop. I was told to use them by the Service manager at the dealership. So - it should be okay for a CPO - but would you get it or walk because of the carfax issue?

I suspect most prospective buyers would agree with you.... if I was trying to sell a 2008 E93 M3 with a CPO warranty that was on carfax. I probably won't get what it's worth....

For a $3500 hit with having all the proper documentation I do not think that you should have a problem selling a 5 year old M3 down the road.I deal with this everyday and this kind of damage is not a big deal.

enfield · 09-14-2011, 04:34 PM

Thanks for the info Gearhead. I will see into the CPO issue. I think I will be able to get it CPO'd based on what you said and go from there.

JulieDriving · 09-14-2011, 09:56 PM

Good luck and keep us updated.

stefan · 09-15-2011, 07:32 AM

Yes there's no say that your new car won't get rear ended either, but it's nice to at least try. Since you have the option, I'd certainly take it back on your lease and go hunting for a new one!

09-13-2011, 07:59 PM	#1
enfield Civilian 79 Rep 970 Posts Drives: Jaguar F-Type V8 S Join Date: May 2007 Location: Ontario iTrader: (0)	Got rear-ended, fixed but on Carfax, lease up, buy? Hi guys and gals. I have a leased 2008 E92 M3. The car has been flawless. I got rear-ended and the car was fixed for $3349 - new bumper, new heat shields, new egg crate sort of thing between the bumper and the car etc. The car is listed on carfax because the damage was over 3K and the car cannot be CPO'ed. However, the dealer is seeing if they can make an exception & get it CPO'ed. I had been thinking, very seriously, of buying it at the end of the lease for a little under 36K. At this stage I am thinking of walking away. I do not plan to keep the car forever. I was thinking of keeping it for 5 years total (for another 2 years) and selling it while still under the CPO warranty. I know I will take a hit upon sale even though there was no structural damage - specially if I cannot have it CPO'ed. What would you do? I'm thinking of returning the car at lease end.... Your suggestions would be most appreciated. Thanks!!
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09-13-2011, 08:37 PM	#2
Gearhead999s Major General 815 Rep 7,887 Posts Drives: RR Velar R=Dynamic M2C R1200GS Join Date: Apr 2007 Location: Toronto iTrader: (0)	Was it repaired at a BMW approved body repair shop?If it was then there should not be an issue to get the car CPO'd.
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09-13-2011, 08:52 PM	#3
GMW Dolphin 38 41 Rep 817 Posts Drives: a Submarine Join Date: Feb 2011 Location: Victoria, BC iTrader: (6)	I'd let it go. Just the pure fact that it's on the Carfax. I'd let the stealership deal with that excess baggage. __________________ 13' e92 M3 Frozen DARK Blue - Current 02' e39 540i Msport 6MT - DD 92' e34 535i AC Schnitzer - stolen/written off 11' e92 M3 - new owner 10' S1000RR - miss it every day / 09' K1300S - miss it most of all.
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09-13-2011, 09:28 PM	#5
JulieDriving Female driving enthusiast :P 76 Rep 2,308 Posts Drives: Bimmer Join Date: Nov 2009 Location: Ontario, Canada iTrader: (0) Garage List 2013 BMW M3 Coupe [10.00]	Didn't think it was possible - in Canada (I know it's done in the States) - for someone buying out their lease to get their car CPO'd by BMW. Thought CPO'ing was something only the dealers could do for a car they're trying to re-sell...... __________________ 2013 M3 coupe (Azurite Black, Black, Piano Black) + miata nut (2 miatas) + Mk6 GTI 5-door hatch (our mini-SUV )
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09-13-2011, 10:08 PM	#6
enfield Civilian 79 Rep 970 Posts Drives: Jaguar F-Type V8 S Join Date: May 2007 Location: Ontario iTrader: (0)	You can get your car CPO'd here at the end of the lease. The cost is around 3.5K but I believe some have paid 3K for getting their cars CPO'd.
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09-14-2011, 04:34 PM	#8
enfield Civilian 79 Rep 970 Posts Drives: Jaguar F-Type V8 S Join Date: May 2007 Location: Ontario iTrader: (0)	Thanks for the info Gearhead. I will see into the CPO issue. I think I will be able to get it CPO'd based on what you said and go from there.
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09-14-2011, 09:56 PM	#9
JulieDriving Female driving enthusiast :P 76 Rep 2,308 Posts Drives: Bimmer Join Date: Nov 2009 Location: Ontario, Canada iTrader: (0) Garage List 2013 BMW M3 Coupe [10.00]	Good luck and keep us updated. __________________ 2013 M3 coupe (Azurite Black, Black, Piano Black) + miata nut (2 miatas) + Mk6 GTI 5-door hatch (our mini-SUV )
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09-15-2011, 07:32 AM	#10
stefan Brigadier General 2351 Rep 4,254 Posts Drives: M2 Comp Join Date: Feb 2008 Location: North iTrader: (2)	Yes there's no say that your new car won't get rear ended either, but it's nice to at least try. Since you have the option, I'd certainly take it back on your lease and go hunting for a new one! __________________ ///M Power
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