Automotive

Advice on buying a 2014 CPO BMW X5

  • Last Updated:
  • Dec 26th, 2016 7:38 am
[OP]
Sr. Member
Sep 13, 2008
987 posts
311 upvotes
Toronto

Advice on buying a 2014 CPO BMW X5

I've never bought a used car before, and was hoping to get some pointers.

I'm potentially looking to move on this 2014 BMW x5 https://crm.bmw.ca/en-CA/PreOwned/Searc ... etails-top

From what I've gathered from other threads, markup could be 30-35% range. So buyer should target 10% reduction from list price. I've seen some people report savings in the 12-13% range. So start at 15% and land at 10% or better? When negotiating, bring up as many noticeable issues as possible?

BMW original warranty is 4 years 80km. CPO warranty is 2 years 80km. I've read that the CPO warranty is not as extensive as original warranty. So best to buy something under original warranty and get everything fixed before it lapses. Is there anything beyond a CPO warranty? Something that can be negotiated or purchased? to extend warranty beyond the 4+2 years? If so, is it worth it? how much is it?

Do I talk price in an original email? Do I talk price before a test drive? What if I want to trade in? do I talk about trade in before I finalize a price on the vehicle I want to purchase?

In terms of issues, anything I should look for specifically? Aside from premium gas, oil change every 10,000km or once a year for about $110, what other costs should I consider?
7 replies
Deal Expert
User avatar
Jul 30, 2007
31892 posts
18886 upvotes
Toronto
Concern you should look a bit further into:
- carproof
- with such high mileage in such short time period, you need to ask how much brakes are left. Are tires new or recently replaced .
- service records
- will the normal wear and tear items be changed out, such as fluids, spark plugs, coil packs, etc.
- the need to take to your own mechanic to have ppi done

The asking price is certainly eye popping for a 2-3 yrs old car. My rule of thumb is this car depreciates about $1000 per month. If this car has been in service for say 30 months, then I would say $47,500 + taxes + license would be a fair offering (assuming the wearable components do not require immediate or short term replacement)

As for more extended warranty, you can go +3 yrs, but is it worth it ? That depends on the dealer's willingness to give discount or not.

I think you should take a test drive first before talking prices . If you end up not liking the car, then it's time wasted on both sides.

Oil change at dealer will run you near $200 .
[OP]
Sr. Member
Sep 13, 2008
987 posts
311 upvotes
Toronto
booblehead wrote: Concern you should look a bit further into:
- carproof
- with such high mileage in such short time period, you need to ask how much brakes are left. Are tires new or recently replaced .
- service records
- will the normal wear and tear items be changed out, such as fluids, spark plugs, coil packs, etc.
- the need to take to your own mechanic to have ppi done

The asking price is certainly eye popping for a 2-3 yrs old car. My rule of thumb is this car depreciates about $1000 per month. If this car has been in service for say 30 months, then I would say $47,500 + taxes + license would be a fair offering (assuming the wearable components do not require immediate or short term replacement)

As for more extended warranty, you can go +3 yrs, but is it worth it ? That depends on the dealer's willingness to give discount or not.

I think you should take a test drive first before talking prices . If you end up not liking the car, then it's time wasted on both sides.

Oil change at dealer will run you near $200 .
Thanks for the detailed reply. What should I do about the trade in? bring it up after a price on the X5 has been settled?
Deal Expert
User avatar
Jul 30, 2007
31892 posts
18886 upvotes
Toronto
Yes
U still need to do some homework on what is the average trade in value for your car.

Typically, dealers like to low ball you from from the start. You may be amazed on the trade in value range given to you.
Deal Expert
User avatar
Feb 11, 2007
19448 posts
22565 upvotes
GTA
booblehead wrote: Concern you should look a bit further into:
- carproof
- with such high mileage in such short time period, you need to ask how much brakes are left. Are tires new or recently replaced .
- service records
- will the normal wear and tear items be changed out, such as fluids, spark plugs, coil packs, etc.
- the need to take to your own mechanic to have ppi done

The asking price is certainly eye popping for a 2-3 yrs old car. My rule of thumb is this car depreciates about $1000 per month. If this car has been in service for say 30 months, then I would say $47,500 + taxes + license would be a fair offering (assuming the wearable components do not require immediate or short term replacement)

As for more extended warranty, you can go +3 yrs, but is it worth it ? That depends on the dealer's willingness to give discount or not.

I think you should take a test drive first before talking prices . If you end up not liking the car, then it's time wasted on both sides.

Oil change at dealer will run you near $200 .
Great info!
Extra emphasis on getting your own PPI done.
You can do your own oil changes for $50-70.
CPO gives some piece of mind, but it's basically costing you $1k per year for those 2 years of extended warranty, so it's insurance against big issues. It doesn't cover wear stuff, like weather stripping or other trim items. I feel like dealers don't do much of a "certification" they just slap the warranty on and hope for the best.
Also, the CPO has a $50 deductible last time I checked.

OP, you're looking at an X5 so I take you care more about looks/performance over operating costs/reliability. X5's are very expensive to run (costly tires/brakes/low mpg and repairs/maintenance cost a ton if you don't do them yourself.
If the women don't find you handsome, they should at least find you handy.
[OP]
Sr. Member
Sep 13, 2008
987 posts
311 upvotes
Toronto
jabela wrote: Great info!
Extra emphasis on getting your own PPI done.
You can do your own oil changes for $50-70.
CPO gives some piece of mind, but it's basically costing you $1k per year for those 2 years of extended warranty, so it's insurance against big issues. It doesn't cover wear stuff, like weather stripping or other trim items. I feel like dealers don't do much of a "certification" they just slap the warranty on and hope for the best.
Also, the CPO has a $50 deductible last time I checked.

OP, you're looking at an X5 so I take you care more about looks/performance over operating costs/reliability. X5's are very expensive to run (costly tires/brakes/low mpg and repairs/maintenance cost a ton if you don't do them yourself.
I've put 90,000 km on my current car in 6.5 years...probably 10,000 km a year over the past 3 years. I'm thinking that since I don't drive that much, perhaps less likely to run into costly issues and have less operational costs. And can resale when the warranty is coming up and get another vehicle that is under warranty. I do want to have something that looks good and can perform.

I'm not tied to an X5...I've looked at the new Mazda CX9 and new MDX. These are the 3 crossovers that look good to me, meet my performance needs and meet my cargo space needs.
Deal Expert
User avatar
Feb 11, 2007
19448 posts
22565 upvotes
GTA
redwings_patriots wrote: I've put 90,000 km on my current car in 6.5 years...probably 10,000 km a year over the past 3 years. I'm thinking that since I don't drive that much, perhaps less likely to run into costly issues and have less operational costs. And can resale when the warranty is coming up and get another vehicle that is under warranty. I do want to have something that looks good and can perform.

I'm not tied to an X5...I've looked at the new Mazda CX9 and new MDX. These are the 3 crossovers that look good to me, meet my performance needs and meet my cargo space needs.
The CX9 and MDX will cost less in the long run and depreciate less. This is coming from a guy with 15 year old BMW that has been very reliable, though it has a bit of rust developing now.
If the women don't find you handsome, they should at least find you handy.
Penalty Box
Aug 16, 2014
1043 posts
360 upvotes
Toronto, ON
KM is excessive for a 2014.
especially a luxury suv.

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