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      05-06-2014, 01:22 AM   #1
zer0cool
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What do you think is the right price for some used 2013 M5's?

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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      05-06-2014, 10:20 AM   #2
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I am also interest in these vehicles. It seems like most want the updated or competition package available on the 2014 models. Although I could afford a new m5, I would much prefer to buy a slightly used m5 and wish there was a way to lease one of the demos for an even lower payment on a great car.
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      05-16-2014, 10:20 AM   #3
zer0cool
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Been over a week, no one has any thoughts on price?
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      05-16-2014, 11:21 AM   #4
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My old 08 M3 was a demo. It 2k miles but it ran very well for 4 years of ownership.
I don't know why/how but I've seen total 3 different warranty policy for slightly used but never registered cars from BMW dealership.
You just need to ask them (then your dealer will contact BMW NA to figure it out)

1. Warranty kicked in when they punch it as Demo and no extension for new owner.
2. Warranty kicked in when they punch it as Demo and BMW NA will give you a few months and a few thousand miles as extension.
3. Warranty kicked in when new owner purchased to car. (My M3 had this)

Honestly, I was looking for slightly used 2013 M5s but ended up getting leasing a brand new M5. When I compared 2013 M5 with 9k miles with brand new M5 Competition package (115k sticker), payment was basically the same. And I usually switch cars between 1 - 4 years max. So new worked out better.

Usually brand new they have room to play (for their margin, BMW NA's discount, just to move cars to add sales portfolio, etc.) but I'm not sure they have same room for used or not. BMW NA doesn't care for used sales (unless CPO) so dealership may not play in favor for you. Good luck and keep us updated!
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      05-19-2014, 12:09 AM   #5
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Quote:
Originally Posted by zer0cool View Post
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.
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.
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      05-19-2014, 12:13 AM   #6
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I just drove one with competition and one without. In my opinion, unless your racing the car around, you really won't appreciate the $7,300 difference. I ended up buying without. Save your money.
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      06-05-2014, 01:47 PM   #7
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if you wait for lease returns in late next year they will be half price...
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