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CPO "promotions"?

Discussion in 'Buy, Lease, Finance & Insurance' started by Deutsch Marques, Jan 26, 2011.

    • Member

    Deutsch Marques

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    I'm contemplating trading in the VW and putting a second BMW in the garage. The BMWUSA website CPO finder is a bit wonky and I'm having a hard time finding all available 3 or 5 series wagons, but that's besides the point. I was hoping someone who is a sales adviser or knows the ins and outs could clarify some things for me.

    The website alludes to choosing between 3 different promotions on CPO cars:
    • $1500 credit and no payments until May
    • 0.9% interest
    • 6 year/100,000 mile no-cost maintenance/warranty

    Is it one or the other? What are the details of each? If you choose, say the 0.9%, what do you get for warranty/maintenance? Anything else that I'm forgetting to ask?

    Also, can I go to my local BMW store and have them locate a CPO for me? Or am I limited to what they have, or stuck traveling to whatever dealership happens to have the car I'm looking for?

    And just FYI: The car (I think) I want is a 3 or 5 series wagon, manual or dual-clutch, RWD preferred, sports package, xenons, moonroof, heated seats. White and silver paint are my least favorite, and absolutely no gray interiors.
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    floydarogers

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    That's a very rare car. There is no DCT in wagons - manual or auto only, and manual is quite rare. At least your color choice is going to be easy.

    Your local dealer should be able to search for you, but I wish you luck finding a manual wagon.
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    eam3

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    Warranty for the CPO will be the 6yr/100K miles regardless, there is no maintenance included. When I bought my 330Ci in 2008 I did end up getting 0.9% financing + BMW made the first two payments, which was nice.

    I wouldn't worry about pre-paying the maintenance since following BMW's maintenance program is a sure fire way to make sure you start having problems when the odometer hits 100,001 miles. Go with Mike Miller's schedule instead.
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    109941

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    I've been looking for a wagon with a stick for years. They're as rare as hen's teeth.
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    109941

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    The years and mileage start at the time of the CPO purchase or refer to the original new purchase?

    cwbiii guest

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    original "in service date"

    Everything is tied to the original "in service date"... and its an important thing to know.
    It is when the original owner took possession.

    Chuck
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    MGarrison

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    To 109941 - just as an fyi, you can quote from multiple replies using the "multi-quote" button, it's the small button just to the right of the "quote" button. Hit the multi-quote in whichever replies you wish to quote (it turns and stays yellow), then when you hit "quote" in whatever last reply you wish to quote, the several different replies will all be quoted in your reply-text window. Saves you from having to do separate replies, etc.
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    BMWCCA1

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    The CPO warranty is . . . a warranty. The Maintenance Program is separate and covers not only scheduled service but also brake pad and rotors, for instance. You get to choose one of the above, not all, so if you take 0.9% you can also purchase the maintenance coverage for your CPO car. You still get the underlying 6-year/100,000 mile CPO warranty coverage regardless. Just figure out which saves you the most money. BMW FS thinks the "free maintenance" is an advertising ploy that brings in prospects but no one actually takes that choice. If $1500 credit makes more sense than 0.9% for you, great. I believe the no payments for X-months just postpones your payments but you're still being charged a higher interest rate, even before that first payment comes due. Don't really know since everyone seems to take the 0.9%, or 1.9% (for longer term).

    Hope that helps.

    We've had several wagons in-trade recently. None have been sticks. Last friend who wanted a CPO stick wagon, I ordered him a 2011 and he is happy having owned it almost 10-months already instead of looking. He couldn't even find a new one in stock anywhere on the east coast last year.
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    109941

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    Purchasing new is really attractive if you want an automatic with the standard premium package. It just really annoys me that buying a stick with the premium package will actually cost more and you'll have to take a hit on the resale for the type of transmission.

    It really says............BMW doesn't want to sell manual transmissions.
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    Satch SoSoCalifortified

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    Not that this follows the post exactly, but. . .



    Well, yes and no. It turns out that the new 6 Series will come to the U.S. with a six-speed manual; the eight-speed automatic is extra. Now, I can't imagine the people in this bracket WANTING a manual, but at least we get it. Significantly, the Yurropeans WON'T get the manual.
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    BMWCCA1

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    I don't know what you're talking about and apparently you don't, either! ;)

    You pay for the Steptronic transmission. It's a $1,375.00 option on the 3-series wagon, either RWD, or xDrive. The manual transmission is a no-cost standard feature. Why are you saying buying the stick will cost you more? And why do you think you'll take a hit on resale? Plenty of CCA-types are looking for those cars used.

    Or did I misunderstand what you typed? :confused:
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    Satch SoSoCalifortified

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    Phil puts it in a nutshell

    The Marxist, he say:

    Oh, man: Story of my life. I can't TELL you how many times I have heard that exact same sentence! :D
    • Member

    109941

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    Let me clarify, my experience relates to the end of the CPO lease on my 2003 330i in 2009. Things may have changed since that time...........BMW now includes automatic transmission as a no cost option in it's 3-series incentives, where it used to be a ~$1250 option. For a long time, this "no cost" option was called a $1250 capital cost reduction in the lease calculation. And my local dealers told me that the new car lease deals only applied to the premium package with the automatic. So, when new 3-series were priced with a manual transmission, it was not possible to make deals that were better than the premium package with automatic transmission option.

    On the other end of the equation is the resale value, Based on Edmunds and NADA, the resale value of a 3-year old 3-series sedan with a manual transmission is $600~700 less than for a car with a manual transmission. So, when the lease payments were calculated, the purchase price was similar or higher with the manual transmission and the residual value was reduced. Thus, the lease costs were higher with a manual.

    It was just my experience.
    • Member

    109941

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    Hey, Satch.

    They have some issues in this part of the world called Palestine. You think you could spend some time there and help the parties talk in a more cooperative manner?

    You're doing a good job.

    Thanks

    Jon
    • Member

    BMWCCA1

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    So much to say. The "options credits" expired months ago. Yes, they included either Steptronic or xDrive, your choice. Mostly these incentives are to help sell cars in stock. There aren't many manual-transmission cars in stock. BMW FS does not use different residual percentages for manual versus automatics. The purchase price couldn't be higher with the manual even with the option credits since the option credit only paid for the Steptronic. And the lease quotes BMW uses in their ads generally includes a car with Premium Package and, yes, they include the incentives, but that's just an example, not a requirement. Those examples also usually include about $1800 "dealer contribution" but that's not required, either.

    This was so long ago I barely remember but I do recall telling a friend he could get either the Steptronic or the AWD for no extra cost on his 2011 328i stick wagon back in April, but he asked why would he want to do that? Yes, on a lease you might have paid slightly more for a stick than an automatic with the option credit because the residual is based on the MSRP and the rate factor is applied to the cap cost minus the residual. That's a pretty small amount figured over 36 months. And I recall you had to lease or finance with BMW FS to get the credits. Would you pay $10 more per month to drive a manual transmission? Regardless, that's not the case today.

    Ya'll blame and complain about much of what BMW does, but at least you can still buy a 3-series sport wagon with manual transmission if you want one. Even when they give something for free (option credits) you complain about that, too? Sheesh. Buy what you want while you can.

    Right now there's a Diesel "Eco Credit" from BMW and the U.S. Gov. will eat most of your cost on a 6,000-lb. GVW vehicle if used even 50% for business. Should I complain that it's unfair I don't get either of those credits on my new 1-M Coupe? Should I buy an X5 Diesel so I don't get screwed by BMW for not giving me the same money back on a 1-M Coupe? Or should I just buy what I want and quit complaining and making fiscal comparisons between an apple and an orange (Valencia)?
    • Member

    granthr

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    You have a new 1-series M Coupe!!!!! :D:D:D Lets see some pics!!
    • Member

    Deutsch Marques

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    I don't think it is BMW's fault that manual transmissions are hard to find. They offer two (or sometimes three) kinds of transmissions and they are a corporation out to make money. When the stoopid American consumer wants nothing but watered-down, dull, non-enthusiast yuppie-mobiles, that's what BMW is going to sell them. Because they make boatloads of money doing it.

    Because sales volumes are so low on manual transmission cars, and the safety standards testing costs so much for each model/engine/transmission combo, BMW is forced to drop vehicles from its US offerings because they wouldn't make money on them. That's why we never got the 330 and 335 wagons with sticks. That's why we're not getting the 5 Series wagon. And that's why I fear we won't get the next-gen 3 Series wagon either.

    I could go out and order a new 3 wagon, but I can't afford the 3 series new anymore. Back in 2003, I ordered a fully loaded 330i with Tourmaline Violet paint (not a US color) and only paid a tad over $40k. My jaw drops when I spec out pretty much any BMW today.

    My wife has also gotten it into her head that she never wants a new car again. I can't say that I blame her, and I agree with the argument. The initial cost is just too much for us on any new BMWs, and the depreciation hit really hurts on any new car the moment you drive it off the lot.

    Sad thing is, buying used... it will be very hard to find exactly what I want. I'm going to have to settle. Even worse, I don't see a single CPO stick wagon in the country. I suppose there's always Audi... I see at least 3 wagons with manuals.
    • Member

    BMWCCA1

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    March production, hopefully. No dealers have received production allocations yet. Later this week though. Mine's in our order bank, a total of three for CCA members at our store.

    I might have to deny myself if the lease is more expensive than a 135 M-sport with DCT and sunroof! ;) That's not fair! :D
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    Satch SoSoCalifortified

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    Say it ain't so!

    De Marxman, he say:

    DCT? DCT?! Jeez, aren't you the one who cornered the market on 535i's with manual transmixers?!

    And how well do you fit in a 1 Series coupe in the first place?! :eek:
    • Member

    BMWCCA1

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    I believe the point flew right past you. That being an enthusiast I shouldn't regret paying more for a manual transmission, if that's the way the cards lay down.

    No, I didn't corner the market. There are plenty of us over on MyE28.com.

    As for the 1-Series, I fit fine-in the front! Not as much headroom as my 2002tii but then what does have that much? Seems like Satch needs to spend some time in a 1-series. Remember Dr. Panke always teased us saying the 1-series would be dimensionally equivalent to the 2002.

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