Used 2008 demo... good deal?

[initialD]

Hi all,

A BMW dealer's offer:

$56k, 3500 miles. Demo car. Tech package, Premium package, ipod, premium sound, cold weather package, 19s, parking control.

My concerns:

1. How do I check if the car is a lemon or not? Since its a demo car, is there a sure way to check if theres something wrong? Is the dealer obligated to provide repair/maintenance records? Is Carfax alone enough?
What common problems are there for the 08 model? (transmission, etc?)
2. Should I expect it to be 'certified'? How long is the reasonable warranty?
3. Is there a way to check its software version? Can the dealer upgrade it?
4. Is the 0.9% financing available? I read in another post that they just made it available for M3....
5. What does 'punched' mean??

I am obvious a newbie so please help out.
IMO the price should be around $50k or so since its a 2 year old demo. Who knows what it went through....
Or perhaps its better to wait a month or so until the 2010 models come out, & see what price drop there is??

Thanks!

[Moxie]

Can't answer all your questions, but I initially considered buying a 2009 Demo - Now, I would be leary about buying a demo because during the first 1200 miles they should be kept under a certain RPM. If the dealer lets the car go out to a customer, there's no way they are going to keep it in a low RPM range. Someone buying a M3 isn't looking for a grocery getter, thay are buying it for performance & want to see what it can do. If the dealer tells you they never let the car go out without riding along, I would question it. I was allowed to take one alone a couple of times at different dealers after being told they never let it go out alone.

Don't know why a 2008 would be around yet. Seems odd. Wonder if someone didn't trade it in. I have 5K miles on my 335i I'm trading, so it's possible mileage wise. You should get the remainder of the warranty but can possibly barter for an extended warranty, especailly with it being a demo.

Not exactly sure what your prices are there, but for a few more K$$ you should be able to get a 2010 with the hard drive mirrors & new Idrive. The 2009's should be getting ready to be discounted. I went new and would recommend you do to with either a 09 or 10 year. Search on here to see what other members paid. If you would put what State you are from, you could get some dealer recommendations.

The 1200 mile service should have been done.

Good luck

[MuchMoore]

I would stay away from a dealer demo as well, the car has lived a HARD first 3500 miles.

[MTROIS]

Originally Posted by initialD

Hi all,

A BMW dealer's offer:

$56k, 3500 miles. Demo car. Tech package, Premium package, ipod, premium sound, cold weather package, 19s, parking control.

My concerns:

1. How do I check if the car is a lemon or not? Since its a demo car, is there a sure way to check if theres something wrong? Is the dealer obligated to provide repair/maintenance records? Is Carfax alone enough?
What common problems are there for the 08 model? (transmission, etc?)
2. Should I expect it to be 'certified'? How long is the reasonable warranty?
3. Is there a way to check its software version? Can the dealer upgrade it?
4. Is the 0.9% financing available? I read in another post that they just made it available for M3....
5. What does 'punched' mean??

I am obvious a newbie so please help out.
IMO the price should be around $50k or so since its a 2 year old demo. Who knows what it went through....
Or perhaps its better to wait a month or so until the 2010 models come out, & see what price drop there is??

Thanks!

Agree with you on the price. Should be lower!! 1200 service should have been done, but there is still a risk that prospects revved the engine when cold. If you only plan on keeping the car a few years, don' t worry about it. Bottom line, work it out so that you can drive a M!!

[isugoo]

at least 14k off the car. then depends on how low they would go, you may consider buying it.

Most likely dealer got their trunk money (7.5k) and Invoice (about 6.5k off MSRP). So 14k off MSRP is the +/- 0 price for dealer. So depends on how much dealer is willing to lose, you may consider buying it.

But personally, although milage is attractive compare to most of used M3s, I would consider buying off from private seller who most likely taken care of M3 (under 10k miles) for same or slightly less money VS. 2000 random people driving (more likely beat the S out of) it.

[initialD]

Thanks, dudes. Much appreciated.
What is trunk money?
Now I think about it, I am gonna wait till at least october when the 2009 leftover will go on sale. Then try to get a deal. Unless.... if they are willing to drop the demo down to $48k or so....
Is it better to lease or buy?

[isugoo]

Originally Posted by initialD

Thanks, dudes. Much appreciated.
What is trunk money?
Now I think about it, I am gonna wait till at least october when the 2009 leftover will go on sale. Then try to get a deal. Unless.... if they are willing to drop the demo down to $48k or so....
Is it better to lease or buy?

1. Trunk money: It's like BMW NA's rebate to dealer when they sell the car.
08 M3 had them. So when dealer punched (reported as sold to BMW NA), BMW NA gives them money. 08 M3 trunk money was: $7,500.

2, It's better to buy it UNLESS BMW offers some special lease rate (like you see in BMW website, special lease offer type of thing). But usually those older stock cars, it's better to buy then leasing it since most likely BMW'll not have any special least rate.

03. 09 leftovers should go on sale when they are stilling next to brand new 2010 model M3s but don't expect to see the killers deals like remaining 08 M3s had in early this year. They produced too may 08 M3s + recession, deals were great but they cut down big time on 09 productions so I don't think it's not going to be the same like last year.

04. Right now, BMW is offering 0.9% APR / 60 Mo for 09 M3s. If you find one at invoice (60-65k) with 0.9% APR/60mo., basically it's really not much different from buying 55k-60k used M3 with regular bank used car loan interest rate (about 5-7k saving over 5 years in interest).