42K is way too high - yes it is well equipped and yes it has low miles (demand a carfax to be sure) but still it's an '07. 36-37K would be a decent price i think, not a steal but fair.

 

Bought my '07 550i (Manual), fully loaded, 23700 miles for $34,000.

No regrets besides for the fact that it doesnt come with the MTech Kit that is standard in the '08 models.

 

Purchased our '07 550i three weeks ago.

$35k. Comfort seats, HUD, Nav, Comfort Access, Rear shades, 28k mi.

Traded our '00 /M Roadster ($17.5k) + $2k cash. Financed the remaining $15,500.

Loving every minute of it. Our 550i ROCKS!!!!!

We don't regret trading our /M Roadster in at all. And I NEVER, EVER thought that I'd find a car that tickled my fancy like that little rocket-ship did.

/Have I mentioned that I LOVE our 550i?

 

Thanks everyone for the input. I pulled the trigger on the 2007 550i loaded CPO with 10K miles. I got it for 38K with them giving me a fair amount for my trade (02 325i) plus a clear bra on the front. May have paid slightly more than I wanted but the car was locally owned, very clean and very low miles. We are loving it!! I will post some pics later.

 

Congratulations on the purchase. You won't regret it.

 

Congrats! Yeah, you can make yourself nuts over price. If it was THE car you wanted, then it's great to hear that you just went out and grabbed it.

I bought my CPO 07 550i equipped almost exactly the same with 34k miles on it for $34k. It's more about getting what you want than spending hours grinding over price (within reason).

You will LOVE it.