Another buyer's advice thread: CPO...would you require finding one CPO'd?

[gaeko]

Ideally I would like buy a Z4M Coupe private party with a CPO warranty on it...but they're far and few available. Private party prices should be lower, no dealer fees, and you get a better idea of the owner and how the car was treated.

Afterwards my options are CPO'd Coupes at BMW dealerships which charge a premium...

Then there are plenty non-CPO coupes at non-BMW dealerships which maybe have a year left in its standard warranty, other than that the mileage is low and the price is right.

What would you do? Advice/suggestions lessons-learned from your buying experience?

[dorifto88]

buy CPO from a dealer, finance through BMW financial, and get first three payments made for you. thats what i did.

[bhoch]

I bought my '07 3.0se in August '10. It was a CPO. I would purchase another CPO from them in the future. Like any used car, though. You should take proper care to make sure it's the one you want and look for any service history, etc...

[Pheonix]

I am pretty sure you could purchase extended warranty (if the car is still under warranty). That would run you about $2600.

[azadian2b]

I was under the impression that the only M model eligible for the payment credits was the M5. On top of that then you would have to use BMW standard financing rates which are not that great.

[ZStig]

I was glad I had the CPO warranty on my first Z

[dorifto88]

Originally Posted by azadian2b

I was under the impression that the only M model eligible for the payment credits was the M5. On top of that then you would have to use BMW standard financing rates which are not that great.

dealership thought that too til i showed them the flyer from bmwusa.

my standard rate is 4.49

their promotional rate was 3.9

[BlackMoupe]

Originally Posted by dorifto88

dealership thought that too til i showed them the flyer from bmwusa.

my standard rate is 4.49

their promotional rate was 3.9

Lucky, my options were 4.9/5.9/6.9 depending on terms.

But yes M coupes are eligible but the 3 payment offer varies or the dealers just aren't informed.

[BlackMoupe]

The offer is payments or the good rate, but the good rate isn't applicable to M models.

[pokeybritches]

Too bad it's not retroactive...

[tekmoe]

Screw BMW financing. Get a loan thru Penfed @ 2.99%.

[r4gs]

i bought my '06 cpo-ed from a dealer and do feel the certification + refurbishment process is pretty worthwhile in addition to the two extra years of warranty (albeit limited) coverage. i do, however, think tt cpo is more than likely not a necessity for my car with 12700 on the clock at time of purchase.

[gaeko]

Originally Posted by r4gs

i bought my '06 cpo-ed from a dealer and do feel the certification + refurbishment process is pretty worthwhile in addition to the two extra years of warranty (albeit limited) coverage. i do, however, think tt cpo is more than likely not a necessity for my car with 12700 on the clock at time of purchase.

That's kinda what i'm debating...the examples i'm looking at have 20k miles or less. Do I want to pay the extra money to get the CPO? I guess I could justify it since it should attract more buyers in the future when I sell it...

Maybe i'm just penny-pinching...i'm struggling with the idea of replacing a car that I currently enjoy driving with another one that I think I may enjoy a little bit more...but that would get us offtopic

[gaeko]

Originally Posted by tekmoe

Screw BMW financing. Get a loan thru Penfed @ 2.99%.

I was thinking maybe take the 3 months covered payment and then paying off the loan with another from a credit union with a lower rate?

[3002 tii]

In my experience CPO process is a joke, they might swap out some wear and tear items if it doesn't meet certain specs like brakes or tires but even that min level isn't all that generous. So most times CPO cars are in the same shape as private party cars... so it comes down to how much you value the ability to get warranty work done in the future and that boils down to how reliable you think our cars are.

If the private party car can show regular maintenance (and if the owner went beyond and did his own mid-schedule oil changes, and the cars service record is clean, ie no substantial warranty work performed or anything that might be of concern), I'd go private and skip the premium price tag on CPO, especially if the car is still under manuf warranty. And as someone mentioned, you can later consider the extended warranty depending on how troublesome the car is during your first year of ownership..?

[3002 tii]

Originally Posted by gaeko

I was thinking maybe take the 3 months covered payment and then paying off the loan with another from a credit union with a lower rate?

As long as there is no pre-payment clause, most times not but given the promotion you never know...

[dorifto88]

no prepayment penalty

[ZStig]

Originally Posted by tekmoe

Screw BMW financing. Get a loan thru Penfed @ 2.99%.

+100000

thats what I did, love them

[gatorfast]

I think it depends on how much of a difference in price there is between a cpo and non cpo vehicle, all things being equal. Keep in mind that you can always purchase an extended warranty or maintenance plan through BMW if you buy a non-cpo vehicle.

[gaeko]

Originally Posted by gatorfast

I think it depends on how much of a difference in price there is between a cpo and non cpo vehicle, all things being equal. Keep in mind that you can always purchase an extended warranty or maintenance plan through BMW if you buy a non-cpo vehicle.

What are the details on doing this? Is it a matter of taking the car to a BMW dealership, having the CPO inspection done, then receiving the extended warranty? And what's typically the cost to get this done? $3k for an extended 6 years?

[chickdr]

Originally Posted by Roffle Waffle

+100000

thats what I did, love them

Me too. I wonder how many Z4 M roadsters are being financed by PenFed right now? I got mine in 09 so my rate is 3.99 but I am not complaining. Painless process.

[gatorfast]

Originally Posted by gaeko

What are the details on doing this? Is it a matter of taking the car to a BMW dealership, having the CPO inspection done, then receiving the extended warranty? And what's typically the cost to get this done? $3k for an extended 6 years?

No it wont be the same as CPO (CPO can only be done by purchasing a vehicle that way through a dealership). However the extended warranty is basically the same coverage as cpo ($50 deductible). I dont have it in front of me, but my service advisor gave me a sheet last time I was at the dealership with all the extended warranty and service plans available and their prices. Just stop by your dealer and they will give you all the info you need.