First attempt to buy a 5 series falls flat
11-07-2009, 08:23 PM
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So I went to test drive and make an offer today on a 2007 550, and my visit didn't go as well as I was hoping (they didn't accept my offer). I was honest and fair, and I guess it just wasn't meant to be. Looking at the CPO checklist and repairs, all they did was replace the rear brakes and change the oil. The car has more than 30k miles, and has never had the tires replaced or anything else (at least not according to the service records). It seems like the $ they put into the car was minimal yet the premium they were asking was excessive. I can't be 100% sure, but I think I know what they paid for the car at auction, and they were asking $7k above that. During negotiations he told me at least 8 times what the blue book value of the car was (don't care) and that the CPO warranty ads $4k to the value of the car. I may be new around here but that sure seems crazy.
Maybe I'm being unreasonable, but I'm willing to wait for the right deal instead of letting someone else dictate the terms. Maybe next time.
Maybe I'm being unreasonable, but I'm willing to wait for the right deal instead of letting someone else dictate the terms. Maybe next time.
11-07-2009, 08:26 PM
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11-07-2009, 08:26 PM
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My Ride: 14 550i
so what did you end up offering?
Originally Posted by vikingshelmut' post='1049876' date='Nov 7 2009, 09:23 PM
So I went to test drive and make an offer today on a 2007 550, and my visit didn't go as well as I was hoping (they didn't accept my offer). I was honest and fair, and I guess it just wasn't meant to be. Looking at the CPO checklist and repairs, all they did was replace the rear brakes and change the oil. The car has more than 30k miles, and has never had the tires replaced or anything else (at least not according to the service records). It seems like the $ they put into the car was minimal yet the premium they were asking was excessive. I can't be 100% sure, but I think I know what they paid for the car at auction, and they were asking $7k above that. During negotiations he told me at least 8 times what the blue book value of the car was (don't care) and that the CPO warranty ads $4k to the value of the car. I may be new around here but that sure seems crazy.
Maybe I'm being unreasonable, but I'm willing to wait for the right deal instead of letting someone else dictate the terms. Maybe next time.
Maybe I'm being unreasonable, but I'm willing to wait for the right deal instead of letting someone else dictate the terms. Maybe next time.
11-07-2009, 08:42 PM
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My Ride: 2007 custom Range Rover, 2005 745li, FULL custom 1950 mercury, chopped and flame throwers, 1930 model A rat rod, nasty little bastard!!
soon to be custom bmw 550 all white and black.
+1 on give us the pice you offered and what they were asking.
11-07-2009, 08:52 PM
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Originally Posted by Bteljuice' post='1049878' date='Nov 7 2009, 09:26 PM
I've been recommended this car a few times before. It's a nice car for sure, but I'm not in the market for an '06They were asking $40k, and I started at $36k. It had a decent amount of options (CA, Nav, etc). My issue is I look at a car like that and see how much $ I'm going to have to spend to get where I want (replace trim, replace rims, add iPod connector, etc). Like I said maybe I was being a little unreasonable but I'm not willing to spend $40k on an 07 550 when I can find an 08 550 (w/M-sport package, 172 rims, etc) for $2-4k more with an additional year of warranty.
11-07-2009, 08:58 PM
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Originally Posted by vikingshelmut' post='1049893' date='Nov 7 2009, 11:52 PM
I've been recommended this car a few times before. It's a nice car for sure, but I'm not in the market for an '06They were asking $40k, and I started at $36k. It had a decent amount of options (CA, Nav, etc). Like I said maybe I was being a little unreasonable but I'm not willing to spend $40k on an 07 550 when I can find an 08 550 (w/M-sport package) for $2-4k more.
What is the reason for choosing an 07 over an 06? Just curious...
11-07-2009, 09:05 PM
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Originally Posted by DRANGED' post='1049896' date='Nov 7 2009, 09:58 PM
Well, you are buying retail from a dealership, their prices are going to be a bit higher. I would guess you were pretty close to their bottom line price on the 07 as CPO'd 550's are going for $34-36K from a dealership.
What is the reason for choosing an 07 over an 06? Just curious...
What is the reason for choosing an 07 over an 06? Just curious...
11-07-2009, 09:19 PM
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My Ride: 10 Honda Fit Sport, 10 Honda Pilot Touring
Originally Posted by vikingshelmut' post='1049899' date='Nov 8 2009, 12:05 AM
Honestly I'm looking at the 07 over an 06 for the additional 1 year of full factory warranty. I do like your car a lot though.