How much should it be to cpo a m5?

[lokie17]

Hey guys, I'm looking to buy a car a prestige bmw in new jersey. They have a M5 there right now and it's been there for 6+ months and I Asked the salesman to ask to get the car certified. He got back to me in about a day and he said it would Take $9,000 to certify the car. It seems pretty wrong to me. Can anyone give me some advice please. They are asking 54,900 for the car now and after it is certified they want 63,900 it seems pretty wrong to me. Plus the sales person keeps telling me I need to move right away or the car is going to be sold right away after it being there for 6 months. I'm extremely pissed off at the sales person treating me like crap too.

[TrevorM3]

Based on your last sentence, find a new dealer. Why give them your hard earned money?

[lokie17]

Originally Posted by TrevorM3

Based on your last sentence, find a new dealer. Why give them your hard earned money?

I think that would be best buy I really like the car.

[phil_]

When I purchased my 2013 M5 it wasn't listed as CPO. The dealer said their cost was $2600. This is a Canadian dealer so US might be cheaper.

Extended warranty is in the $5k range so $9k seems like a complete scam. I doubt the dealer pays more than the general public

[momos750]

For a BMW dealership to certify a "qualifying" vehicle it will run 2-3k. BMWNA has strict standards in order to certify a vehicle. Must have had all required maintenance done at a BMW dealership, no buy backs, lemons, vehicles with voided warranties, etc, etc., the list is long.

Only a BMW dealership can CPO a vehicle through BMWNA.

When you said it will cost $9000 to certify the vehicle I am betting what the sales guy means is, it will need $6000 in repairs (prob new tires and brakes to name a few) to meet CPO requirements and then 2-3k for the CPO warranty. = $9000.

You'd probably be better off negotiating the best price possible and then buy an extended warranty. You can do the repairs yourself or at an Indy for far cheaper.
The other issue with CPO is, what is the inservice date of the vehicle? CPO is only good for 5yrs/100k miles from the date it was put into service.

[lokie17]

Originally Posted by phil_

When I purchased my 2013 M5 it wasn't listed as CPO. The dealer said their cost was $2600. This is a Canadian dealer so US might be cheaper.

Extended warranty is in the $5k range so $9k seems like a complete scam. I doubt the dealer pays more than the general public

Seems like I'm going somewhere else then lol

[TrevorM3]

Originally Posted by lokie17

I think that would be best buy I really like the car.

M5s arent a hot item righr now. Trust me. There are more out there

[dgbos]

I had my dealer do a CPO Elite on a 2015 earlier this year and they said about $2k for CPO. They had to replace rear tires after trying to CPO so that added another $1k!

You should run away from that dealer - lots of cars out there.

[Indiana Jones]

Agree with the other comments, but I wouldn't walk away just yet...especially since the car has been there for 6 months. I would however, deal with the sales manager. Tell him you've been watching the car, for 6 months, and that you are interested at 51,000 (CPO included). Leave you card and walk out...if he calls great, if not thats fine too...expect to close the deal around 53k with CPO included. I don't think ~4k discount is out of the question on a car that has been on the lot for that long.

[Indiana Jones]

Local 2013 M5's here in Miami are selling for high 40's now. Missed a 2013 loaded with 45k miles for $47,000. So they are way off on their price...especially since it has been on the lot for so long...I'd be weary of how long it has been at the dealer for, and at the very least use it as leverage.

[lokie17]

Originally Posted by Indiana Jones

Agree with the other comments, but I wouldn't walk away just yet...especially since the car has been there for 6 months. I would however, deal with the sales manager. Tell him you've been watching the car, for 6 months, and that you are interested at 51,000 (CPO included). Leave you card and walk out...if he calls great, if not thats fine too...expect to close the deal around 53k with CPO included. I don't think ~4k discount is out of the question on a car that has been on the lot for that long.

THEY SAID THEY WILL NOT MOVE ON PRICE WHAT SO EVER LOL. Apparently they have 3 people willing to buy the car right now lol

[lokie17]

Originally Posted by Indiana Jones

Local 2013 M5's here in Miami are selling for high 40's now. Missed a 2013 loaded with 45k miles for $47,000. So they are way off on their price...especially since it has been on the lot for so long...I'd be weary of how long it has been at the dealer for, and at the very least use it as leverage.

I'm in New York lol they're mean here

[lokie17]

https://www.cargurus.com/Cars/invent...ting=126376185


this is the car if anyone wants to see

[Indiana Jones]

Originally Posted by lokie17

THEY SAID THEY WILL NOT MOVE ON PRICE WHAT SO EVER LOL. Apparently they have 3 people willing to buy the car right now lol

By "they" are you referring to the sales person you spoke with or the sales manager? If you present a proper offer to the sales manager and leave your contact info, they will call you back...

[JMD]

lokie17, Momos750 has it about right! The M5 I just bought wasn't CPO'd,...I basically extended the BMW warranty that equated to it being CPO. I recall the cost being around $4500 or so. This was great peace of mind given that rotors and brakes for these cars is around $3k. Them wanting $9k to CPO is ridiculous, hence the reason it hasn't sold. Like some has stated, it most likely need repairs/tires, etc. So, to that,...they most likely got burned on the deal,...or pulled it from an auction and are trying to make for a big payday on it. You may want to consider getting the VIN and contacting any other BMW Dealer,...even theirs and get the service history on it. This will reveal the major warranty issues with it,...as not rightful M5 under will let an Independent Tech touch a car under warranty. This will help you in your decision to wait them out or move on. Also,...you may want to let them know that their car isn't the only one on the planet. When I was shopping for mine in the Northern VA area,....I made my dealer know up front that I was looking at several M5s,...from Florida,....Atlanta to Jersey! Make 'em earn your business!

[lokie17]

Originally Posted by JMD

lokie17, Momos750 has it about right! The M5 I just bought wasn't CPO'd,...I basically extended the BMW warranty that equated to it being CPO. I recall the cost being around $4500 or so. This was great peace of mind given that rotors and brakes for these cars is around $3k. Them wanting $9k to CPO is ridiculous, hence the reason it hasn't sold. Like some has stated, it most likely need repairs/tires, etc. So, to that,...they most likely got burned on the deal,...or pulled it from an auction and are trying to make for a big payday on it. You may want to consider getting the VIN and contacting any other BMW Dealer,...even theirs and get the service history on it. This will reveal the major warranty issues with it,...as not rightful M5 under will let an Independent Tech touch a car under warranty. This will help you in your decision to wait them out or move on. Also,...you may want to let them know that their car isn't the only one on the planet. When I was shopping for mine in the Northern VA area,....I made my dealer know up front that I was looking at several M5s,...from Florida,....Atlanta to Jersey! Make 'em earn your business!

Thanks for the advice man. I think I'm going to just wait it out. I don't know how every time I'm looking at a car and its been there for months all of a sudden "three people want the car" lol . If you seen any cpo's at a good pirce give me a shout lol

[M5Beast_NYC]

I agree, there are a TON of M5 in the market now but there are only a few with the combinations you really want. I inquired about CPO prior to buying my M5 and pricing i was getting was around 5k more. 9k is definitely way to high.

I bought my 535 from prestige and i gotta say they dont negotiate very much. Only reason i bought it was cuz they had the lowest mileage 535i xdrive i could find and the interior condition was in great shape compared to the other ones I saw.

I suggest keep searching. maybe expand your search radius.

[JMD]

Originally Posted by lokie17

Thanks for the advice man. I think I'm going to just wait it out. I don't know how every time I'm looking at a car and its been there for months all of a sudden "three people want the car" lol . If you seen any cpo's at a good pricce give me a shout lol

...."3 people looking",....that tactic is old as dirt, but true! They are looking,...but are they there will wallet or check?

A good counter tactic(s) I use is/are, 1)find out as much as you can about the vehicle,...but don't show your card; get pre-approved loan,...let them know you have been pre-approved,...but don't let 'em know how much you're pre-approve for; negotiate with price of the car (and don't drive it more than once,...if all mechanicals check out during the initial test drive); if you have a trade, negotiate it separate from the car you are buying,...note, the price cars are going for across the auction block is irrelevant,...as none of them are your car. There is is phrase used in the used car market,...."no two used cars are alike "!

Again,...whenever a dealer tells me that other folks are looking at the car I'm interested in,...I simply reply,..."Ok, now what does that has to do with me,...you, and this deal?". "Absolutely Nothing!"

GL

[PaulT_M5]

Originally Posted by JMD

Again,...whenever a dealer tells me that other folks are looking at the car I'm interested in,...I simply reply,..."Ok, now what does that has to do with me,...you, and this deal?". "Absolutely Nothing!"

I had a dealer try this one with me and my reply was "Good luck selling it to them then as I'm not interested any more"

It wasn't long before they were on the phone telling me the other person didn't want the car, but I stood fast and after a few months they ended up trading it with another dealer as they couldn't sell it.

My view is that if they want to play games they can. They need to sell the car to me more than I need to buy that specific car from them.

[JMD]

Lokie17, I just visited the link and must say,..it's a nice one! That said, and as you may have noticed, the car was built 08/2012,...and mostly put into service in 2012. So, there may potentially be factory warranty left on the vehicle. The miles are average,...less than 12k annually for sure. I see why they aren't wanting to move on the price,...it's because it has a lot of bells and whistles. Whenever you see one with the B&O sound system, it most likely has most or all available options,...as that B&O system is often a hard box for some folks to check when they order one new.

Now, about that B&O system, I think it's a $3k option alone,...and most here will tell you that after hear your favorite track in an M5 with the B&O,...it alone is worth every penny and then some! It sounds that freak'n good - IMHO! Now, if the color suits you, as it does me!, I'd say get to dealing. If it's there over the weekend,...they will be ready to move it,...although I can't figure out why it has been there for 6 long months!

Note, it's basically my car except it has the DCT tranny!,..So, I'm partial to it,...but ultimately, it's your decision. Even if you buy it as is! Get an aftermarket warranty for sure,...and follow the rules of it to the "T". One last thing, if it has time left on the 4 -Year/50k Mfr Warranty, that's a good thing,...as I can guarantee you that if there is an issue, it'll come up within the first 1000 miles.

Don't forget to do a Service History pull on it,...any BMW dealer will give you the info,....I've had guys to send me the entire history via "screenshots". Do this even if you buy another M5 from another BMW dealer. At least you'll know what issues have been addressed with the car!

Damn,...I almost forgot about this one! Get on your knees and inspect the entire under carriage,...I have done this on ever singles use car I've ever bought. You never know what's hidden from plain sight!

Good luck on whatever you decide!

[M5Beast_NYC]

two things here to get extended warranty.. you can get the dealer certify it or just get the extended warranty.

certifying required more work and off the bat, i think they have to replace the tires if its under the threshold, which is pretty to achieve. of chourse, this will require checking a bunch of other things and replacing them if they meet minimum requirement specs.

i think you can also just purchase an extended warranty that can go up to 6 years/100k miles. you'll be buying the car as it stands obviously. this will give you the coverage you want post new car warranty.

i think the latter will be a cheaper option if you really want this car.

I dont know who your sales guy there is but I bought my 535i with Rob Dedominico there. Decent sales guy and works hard to help you. Although he was not able to get me the best price from his managers, he did try his best to work with my budget.

[freezey]

Do not use prestige those guys are assholes. There is this one Spanish guy that was the worst sale guy ever. He gave me a deal on an X5 and said nobody would beat it and he would be embarrassed if anyone could so I told him the deal I got from park ave and he never called back.

Everyone I know who goes there hates it.