Good Time To be in the Pre-Owned E60 market
11-14-2007, 08:32 PM
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i've been tracking cars.com / autotrader.com for the past few weeks and i've seen prices drop slowly .
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
11-14-2007, 08:51 PM
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Originally Posted by vinm5' post='494481' date='Nov 15 2007, 12:32 AM
i've been tracking cars.com / autotrader.com for the past few weeks and i've seen prices drop slowly .
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
2. Agree
3. Yeah, sure. They lease new cars
4. Partially true.
11-14-2007, 09:04 PM
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Originally Posted by vinm5' post='494481' date='Nov 14 2007, 11:32 PM
i've been tracking cars.com / autotrader.com for the past few weeks and i've seen prices drop slowly .
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
11-14-2007, 11:54 PM
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I agree, i just bought mine from a wholesaler who bought it at the BMWNA lease auction. $25,300 04. 530i prem/cold pkg 52k
11-15-2007, 12:43 AM
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Add to your list the fact that the majority of the cars in the pre-owned market at the moment are pre-LCI and are therefore 1 or 2 engine updates old and 1 cosmetic update old. That is going to cause some deflation of prices for these cars, plus those who care will be wanting the latest and greatest, and will be releasing pre-LCI cars into the market, boosting supply (and hence deflating prices).
For those of us who care a little less (just a little less, like me
), it's a great time to be in the CPO market. I have used this to great personal savings 3 times now - my Saab 9-3 purchased in 2002, just as the new-shape 9-3 was being launched; my E39 purchased weeks before the E60 rollout; and my current E60 purchased just as the LCI was rolled out. In all cases, I got great deals on great cars while not being too far behind the curve.
For those of us who care a little less (just a little less, like me
), it's a great time to be in the CPO market. I have used this to great personal savings 3 times now - my Saab 9-3 purchased in 2002, just as the new-shape 9-3 was being launched; my E39 purchased weeks before the E60 rollout; and my current E60 purchased just as the LCI was rolled out. In all cases, I got great deals on great cars while not being too far behind the curve.
11-15-2007, 12:50 AM
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Originally Posted by MacSid' post='494553' date='Nov 15 2007, 01:43 AM
Add to your list the fact that the majority of the cars in the pre-owned market at the moment are pre-LCI and are therefore 1 or 2 engine updates old and 1 cosmetic update old. That is going to cause some deflation of prices for these cars, plus those who care will be wanting the latest and greatest, and will be releasing pre-LCI cars into the market, boosting supply (and hence deflating prices).
For those of us who care a little less (just a little less, like me), it's a great time to be in the CPO market. I have used this to great personal savings 3 times now - my Saab 9-3 purchased in 2002, just as the new-shape 9-3 was being launched; my E39 purchased weeks before the E60 rollout; and my current E60 purchased just as the LCI was rolled out. In all cases, I got great deals on great cars while not being too far behind the curve.
For those of us who care a little less (just a little less, like me
), it's a great time to be in the CPO market. I have used this to great personal savings 3 times now - my Saab 9-3 purchased in 2002, just as the new-shape 9-3 was being launched; my E39 purchased weeks before the E60 rollout; and my current E60 purchased just as the LCI was rolled out. In all cases, I got great deals on great cars while not being too far behind the curve.Yes there are great deal, I got mine less then a month ago for 38.5K with 37.5K miles, CPO and has the 100K maintainance contract from the previous owner.
11-15-2007, 02:14 AM
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Can everyone believe that i saw to E60s a 530i and a 525d in ilford today and both cars were on sale for ?10,500 for the 530i 53 model and the 525d for ?11,000 04 and with 65k and 71k respectively,
Now the cars are so cheap!!
def a good buy, at that price, but no warranty unfortunately,
at the car dealers on ilford high road, going up towards romford, near 7 kings station onwards.
Now the cars are so cheap!!
def a good buy, at that price, but no warranty unfortunately,
at the car dealers on ilford high road, going up towards romford, near 7 kings station onwards.
11-15-2007, 05:01 AM
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The best time to buy a used car is around November / December because everyone is spending money on gifts, not cars.
The worst time to buy is Spring / Summer. People start getting paid their salary bonuses in March and you get all of the recent grads (high school / college) buying cars in the summer.
The same is true of buying houses!
The worst time to buy is Spring / Summer. People start getting paid their salary bonuses in March and you get all of the recent grads (high school / college) buying cars in the summer.
The same is true of buying houses!
Originally Posted by vinm5' post='494481' date='Nov 15 2007, 12:32 AM
i've been tracking cars.com / autotrader.com for the past few weeks and i've seen prices drop slowly .
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
which i can only think of 3-4 reasons.
1) since e60 came out in 04 , the 4-yr lease returns are being returned in mass numbers around this time
2) winter time is usually time when car sales decreases
3) people aren't buying used cars as much.because of the credit crisis?
4)new 3 series, A4, G35, C-class...makes people wonder why pay 30k ..when there are 08 new designs already out.
Any opinions, Best time to buy an e60, ..should one wait until 2008??!!
12-02-2007, 08:19 PM
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Must agree on the wisdom of November buying of a used off-lease E60. I just picked up mine at the local dealer. It was one of 5 or 6 lease returns on the lot. Sticker: $31.5k. Sale price $29.5k. I offered $28k ('04 525i, 46k miles, with auto/sport/premium/xenon, late '04 build date) and they took it. Could have paid cash, but decided to finance 40% of total amount because BMW Finance is offering 1.9% 3 year loans (almost free money), and BMW pays the first 2 of 36 loan payments. Cha-ching.
Love my new 5, BTW. (Had reliability issues with previous 3 and 7, so I figured it was time to try again by splitting the numerical difference.)
Love my new 5, BTW. (Had reliability issues with previous 3 and 7, so I figured it was time to try again by splitting the numerical difference.)
12-02-2007, 09:27 PM
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It's true. I bought a CPO at the end of Oct. A 2 year old car with 13,000 km on it and an extended warranty, for 68% of what it sold for new. The car is indistinguishable from new. I think there is pretty good value in a used one provided you are getting low miles and a warranty.