Advice on purchasing CPO 2011 M3 at a distance

[Spazdoc]

I am looking at picking up a 2011 M3 Sedan with Competition Package and DCT in either Blue (Interlagos or Le Mans) or Mineral White. Unfortunately, there are none within 200 miles of me, so I had to cast a wider net. I also have my 2007 335i that I would like to trade-in. I am sticking to CPO since a warranty would be included and there is less worry buying at a distance (of course I would inspect personally before signing).

From the KBB values, the car should be about $51K or less with most options. I was wondering if anyone has any advise on questions to ask, places to look, or any general recommendations? I also wanted to trade in my 2007 335i if anyone has pointers, since I have only bought new in the past.

Right now I have whittled it down to a few cars - does anyone have any experience with these cars:

Vermont (Automaster)
2011 BMW M3 Sedan, Le Mans Blue, 24K miles, Comp, DCT, Cold Weather, Premium, asking $54,900 (Used, not CPO)
http://www.theautomasterbmw.com/used...1c8ab4c64d.htm

New Hampshire (Tulley)
2011 BMW M3 Sedan, Interlagos Blue, 38K miles, Comp, DCT, Cold Weather, Premium, asking $52,600 (has wood interior, would have to switch it out)
http://www.autotrader.com/cars-for-s...56757476&Log=0

Seattle, WA (BMW Seattle)
2011 BMW M3 Sedan, Interlagos Blue, 33K miles, Comp, DCT, Cold Weather, Premium, asking $52,995
http://www.autotrader.com/cars-for-s...67878723&Log=0

There is a model out in Habberstad, NY, which sounds like it was tracked, so I will likely stay away for now (unless someone can convince me otherwise, since that one is asking higher than the others).

[dmk08]

Originally Posted by Spazdoc

I am looking at picking up a 2011 M3 Sedan with Competition Package and DCT in either Blue (Interlagos or Le Mans) or Mineral White. Unfortunately, there are none within 200 miles of me, so I had to cast a wider net. I also have my 2007 335i that I would like to trade-in. I am sticking to CPO since a warranty would be included and there is less worry buying at a distance (of course I would inspect personally before signing).

From the KBB values, the car should be about $51K or less with most options. I was wondering if anyone has any advise on questions to ask, places to look, or any general recommendations? I also wanted to trade in my 2007 335i if anyone has pointers, since I have only bought new in the past.

Right now I have whittled it down to a few cars - does anyone have any experience with these cars:

Vermont (Automaster)
2011 BMW M3 Sedan, Le Mans Blue, 24K miles, Comp, DCT, Cold Weather, Premium, asking $54,900 (Used, not CPO)
http://www.theautomasterbmw.com/used...1c8ab4c64d.htm

New Hampshire (Tulley)
2011 BMW M3 Sedan, Interlagos Blue, 38K miles, Comp, DCT, Cold Weather, Premium, asking $52,600 (has wood interior, would have to switch it out)
http://www.autotrader.com/cars-for-s...56757476&Log=0

Seattle, WA (BMW Seattle)
2011 BMW M3 Sedan, Interlagos Blue, 33K miles, Comp, DCT, Cold Weather, Premium, asking $52,995
http://www.autotrader.com/cars-for-s...67878723&Log=0

There is a model out in Habberstad, NY, which sounds like it was tracked, so I will likely stay away for now (unless someone can convince me otherwise, since that one is asking higher than the others).

You can get a non-CPO car for 5-8k less it seems like on average. You can buy the BMW warranty extended for $3200-3500. I wonder if CPO is really worth it at this point.

[Spazdoc]

Originally Posted by dmk08

You can get a non-CPO car for 5-8k less it seems like on average. You can buy the BMW warranty extended for $3200-3500. I wonder if CPO is really worth it at this point.

You are probably right. I picked up a very good aftermarket warranty for my 335i that cost under $3K for 3 years and 36K miles.

I just noticed that the Le Mans Blue model in VT is not CPO, so their asking price of $54,900 is way more than a KBB estimated price of $46K (based on options).

If I pick up a car that is clean and still under warranty, I guess that I should not run into major problems and be able to purchase extended warranty without issues, correct?

[Amirsm3]

Originally Posted by dmk08

You can get a non-CPO car for 5-8k less it seems like on average. You can buy the BMW warranty extended for $3200-3500. I wonder if CPO is really worth it at this point.

I think there's more to the CPO than the extended warranty. I had a CPO E46 M3. Lemme see if I can google some differences.

[Amirsm3]

Originally Posted by Spazdoc

You are probably right. I picked up a very good aftermarket warranty for my 335i that cost under $3K for 3 years and 36K miles.

I just noticed that the Le Mans Blue model in VT is not CPO, so their asking price of $54,900 is way more than a KBB estimated price of $46K (based on options).

If I pick up a car that is clean and still under warranty, I guess that I should not run into major problems and be able to purchase extended warranty without issues, correct?

Correct. You need to purchase the extended BMW warranty before the standard, 4 year 50k mile warranty expires.

[dmk08]

Originally Posted by Amirsm3

I think there's more to the CPO than the extended warranty. I had a CPO E46 M3. Lemme see if I can google some differences.

Guarantees under 60000 miles
Roadside assistance
Different financing rates
Warranty

According to the BMW site. So the only thing worth a damn is the warranty. You can get better financing rates from pretty much any credit union unless they are offering .9. I actually think they are offering that on 11s right now. But if you're paying so much more up front is it worth it? Dunno.

[dmk08]

Originally Posted by Amirsm3

Correct. You need to purchase the extended BMW warranty before the standard, 4 year 50k mile warranty expires.

Exactly I just bought a 2011 w/ 10 months of warranty left and will add the extended. It will cost me thousands less than a CPO in the end.

[Spazdoc]

Sounds great, thanks for the advice.

Is there anything specific that you would do when buying from a dealer at a distance? Get a mechanical evaluation ahead of time from another dealer or mechanic in the area?

Any thoughts on the cars above? The Le Mans model may be just too far from reality to negotiate down to appropriate levels for non-CPO.

[Amirsm3]

Originally Posted by dmk08

Guarantees under 60000 miles
Roadside assistance
Different financing rates
Warranty

According to the BMW site. So the only thing worth a damn is the warranty. You can get better financing rates from pretty much any credit union unless they are offering .9. I actually think they are offering that on 11s right now. But if you're paying so much more up front is it worth it? Dunno.

Hahaha you way beat me to the punch on that one.

And I think some number crunching would be needed to really see if it's worth it. Honestly, I'm glad I didn't go CPO on this one. I still got a decent used rate (3.35) and I could buy the warranty at my leisure instead of being hassled into it at the dealership during the sale. They kept trying to roll the damn thing into the loan without giving me a chance to negotiate the price down.

[Amirsm3]

Originally Posted by Spazdoc

Sounds great, thanks for the advice.

Is there anything specific that you would do when buying from a dealer at a distance? Get a mechanical evaluation ahead of time from another dealer or mechanic in the area?

Any thoughts on the cars above? The Le Mans model may be just too far from reality to negotiate down to appropriate levels for non-CPO.

I bought mine 180 miles away. I didn't really do anything since it's under warranty. Just check the car fax and have another BMW dealership run the VIN so they can tell you what services were done at the dealer.

[dmk08]

I bought mine from Cali (i'm in GA) sight unseen with a 5-day return in writing. I did have a PPI done out there. I had already collected service records, checked carfax/authcheck, and had the seller go around the car w/ an HD video cam.

[///Mperative]

Just a suggestion, but you can probably find a much better deal on the classifieds here. Should be able to find something for around $45k.

[dmk08]

Originally Posted by ///Mperative

Just a suggestion, but you can probably find a much better deal on the classifieds here. Should be able to find something for around $45k.

Not really.

[fuddman]

Have you searched BMWUSA.com?
Search all over US and you'll find some 2011 4dr cars at that site with seemingly better prices and mileage than your Autotrader finds.

[///Mperative]

Originally Posted by dmk08

Not really.

Seriously? I've seen a bunch of coupes for sale in the $45k range. Perhaps the E90 is rarer...

Originally Posted by dmk08

Exactly I just bought a 2011 w/ 10 months of warranty left and will add the extended. It will cost me thousands less than a CPO in the end.

I recently looked at an extended warranty for my 2011. They are pretty expensive, but worth it. There are a few different options and the cost ranges from roughly $3k - $6k (if memory serves).

[dmk08]

Originally Posted by ///Mperative

Seriously? I've seen a bunch of coupes for sale in the $45k range. Perhaps the E90 is rarer...



I recently looked at an extended warranty for my 2011. They are pretty expensive, but worth it. There are a few different options and the cost ranges from roughly $3k - $6k (if memory serves).

I have not looked this week but I saw most of the low mile comp pack 11s still up for 50k+. I saw the 09-10 selling for 45k. For the coupe thats a difference in LCI and a big deal to me.

[Spazdoc]

Originally Posted by dmk08

I have not looked this week but I saw most of the low mile comp pack 11s still up for 50k+. I saw the 09-10 selling for 45k. For the coupe thats a difference in LCI and a big deal to me.

Agreed. For some reason the Comp Pack is a limiting factor and keeps the price right around $50K. I was just at CarMax looking at their purchase offer, and they have a 2011 Interlagos Blue with Comp Pack, DCT, and heated seats, kinda a bare-bones model with 12K miles. Price seems a little high at $49,999, but extended warranty is under $3K.

http://www.carmax.com/enus/view-car/...results%20page

My brother bought a 3 series a while ago and it had significant bodywork (no frame damage) that was undisclosed - took a bit of work to return it. Anyone have experience with CarMax?

[///Mperative]

Originally Posted by dmk08

I have not looked this week but I saw most of the low mile comp pack 11s still up for 50k+. I saw the 09-10 selling for 45k. For the coupe thats a difference in LCI and a big deal to me.

That sounds really high for a 09-10. I agree on the Comp Pack. I wouldn't buy the car without it.

[dmk08]

Originally Posted by ///Mperative

That sounds really high for a 09-10. I agree on the Comp Pack. I wouldn't buy the car without it.

You seem to be the only person w/ a 2011 FS under 50k. I'm surprised no one has jumped on it.

[///Mperative]

Originally Posted by dmk08

You seem to be the only person w/ a 2011 FS under 50k. I'm surprised no one has jumped on it.

Yeah, same. Doesn't make much difference to me. Worst case, I can trade it in to my dealer for close to payoff.

[Spazdoc]

Originally Posted by Amirsm3

And I think some number crunching would be needed to really see if it's worth it. Honestly, I'm glad I didn't go CPO on this one. I still got a decent used rate (3.35) and I could buy the warranty at my leisure instead of being hassled into it at the dealership during the sale. They kept trying to roll the damn thing into the loan without giving me a chance to negotiate the price down.

Actually, I was crunching the numbers and, because of the BMW 0.9% financing, CPO allows for about $2K more on the car price to keep the monthly payment the same (assuming you are looking at about 3% financing on a non-CPO). The extended warranty will run me about $3K (yes, I am paranoid, and every extended warranty I have had has paid itself off at least 3 times).

So I am figuring that right now a non-CPO will run me $5K more than a CPO.

You seem to be the only person w/ a 2011 FS under 50k. I'm surprised no one has jumped on it.

I should look at that. What color?

[dmk08]

Originally Posted by Spazdoc

Actually, I was crunching the numbers and, because of the BMW 0.9% financing, CPO allows for about $2K more on the car price to keep the monthly payment the same (assuming you are looking at about 3% financing on a non-CPO). The extended warranty will run me about $3K (yes, I am paranoid, and every extended warranty I have had has paid itself off at least 3 times).

So I am figuring that right now a non-CPO will run me $5K more than a CPO.




I should look at that. What color?

Remember most non-CPO warranties offer pro-rated refunds. For instance I got 65% of my last one back after 1 out of 3 years coverage.

I believe his car is Jerez Black. It's in the FS section help the man out!

http://www.m3post.com/forums/showthread.php?t=957921