Quote:
Originally Posted by zer0cool
I just recently learned that the dealership from which I bought my previous BMW has bought (from auctions) several manufacturer owned (I assume executive demo / manager cars) 2013 M5s from around the country. It appears they bought them a couple months ago and these have not yet been sold (I don't know how many total they bought originally, but these were all bought in Feb to March and have not been sold). They all have just a few thousand miles and depending on color, original MSRP, etc are being marked at 78 to 82k.
I am not sure how warranty would work (would it start from the time when they were auctioned?). Anyways, do you guys feel these are possibly good buys? Are there significant issues with exectuvie demos? Obviously there are fears that they are driven very hard but I am sure most leased M5s are driven very hard by their owners as well.
What do you think are some concerns?
Also what do you think is a fair price? Would it be reasonable to ask for say 6k off current asking price, or do you think that I can probably get even more off?
Thank you for any advice.
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I wouldn't even consider those as an option. I spoke to the owner of a dealership that has 7 of these "executive demos". Some of them are used at BMW performance tracks where they beat the hell out of the cars, hence the big mark down. I've seen these demo cars go as low as 76K with milage as low as 1,500. These cars are driven so hard, they can't even CPO them let alone extend the warranty. I just went through this buying process myself. I ended going with a brand new 2014 with only a couple of options. Make sure you ask the dealer about exactly what the car was used for previously. I did some digging on one and found out the engine had to be replaced before they sold they car to the dealership. They claimed it was replaced in the factory so it wasn't an issue. Any car that has to have its engine replaced sounds like a lemon or an abused car to me. My advice, do your homework on the cars, don't rely on the car fax, get the actual BMW service report, and negotiate the hell out of the price. These cars are almost 2 years old and will depreciate about 11K in 6 months according to KBB.
Best of luck in your search. You may end up making the same move I did and just go new.