[openwheelracing]

New cars are so cheap and easy to haggle in the US, it boggles my mind people still buy used cars, especially CPO or Carmax. This is not 1982 anymore.

[bavarianride]

Originally Posted by upsidedownfunnel

Let's not exaggerate. It's certainly possible to get a new car that's been sitting on the lot or from a dealership desperate to get rid of a car at 20% off. But it's not common or easy. Buying a $55k MSRP car at $44k is a great deal no matter how you cut it.

I'd expect a bit more from a used car, though. I'd rather buy a new car at 15% off MSRP than a used 1 year old car at 25% off MSRP.

20% off MSRP is doable dependent on the incentives. E.g. people at work got $10k off from MSRP $50k with invoice($3k off) + fleet($3k off ) + dealer cash($3k) + loyalty($1k), even on custom order. This may not be possible all the time, and not on brand new G20, but patience may pay off.

[530iDriver]

Originally Posted by openwheelracing

New cars are so cheap and easy to haggle in the US, it boggles my mind people still buy used cars, especially CPO or Carmax. This is not 1982 anymore.

Really? Where can you get me a brand new BMW for 25-30% off MSRP?

[ecaedus]

Originally Posted by openwheelracing

New cars are so cheap and easy to haggle in the US, it boggles my mind people still buy used cars, especially CPO or Carmax. This is not 1982 anymore.

looking at how fast entry level luxury cars depreciate, i'd argue you'd be crazy to buy them brand new.

[530iDriver]

Originally Posted by ecaedus

looking at how fast entry level luxury cars depreciate, i'd argue you'd be crazy to buy them brand new.

Absolutely!

[bavarianride]

Originally Posted by ecaedus

looking at how fast entry level luxury cars depreciate, i'd argue you'd be crazy to buy them brand new.

The fast depreciation is not new, esp. for cars loaded with tech options, so my approach is to buy brand new without minimal tech.

For buy-and-hold past 10 years/100k miles, buying 3-yr/30k CPO also means the car will hit 10 years/100k miles sooner than brand new at 3-5 miles, such that the post 100k miles "maintenance" will also kick in earlier than brand new.

My take is a 20% off MSRP on brand new 3-5 miles is good enough to cushion the steep depreciation curve and provides repair-free ownership till 10 years/100k miles.

[530iDriver]

Originally Posted by bavarianride

The fast depreciation is not new, esp. for cars loaded with tech options, so my approach is to buy brand new without minimal tech.

For buy-and-hold past 10 years/100k miles, buying 3-yr/30k CPO also means the car will hit 10 years/100k miles sooner than brand new at 3-5 miles, such that the post 100k miles "maintenance" will also kick in earlier than brand new.

My take is a 20% off MSRP on brand new 3-5 miles is good enough to cushion the steep depreciation curve and provides repair-free ownership till 10 years/100k miles.

Where can you get this mythical low spec brand new BMW for 20% off?

[openwheelracing]

You need to do your own homework buddy. My 2018 Merc was 18% off, my 16 Bimmer was 22% off..etc. you might just throw up to find out my 2008 deal. It doesn't hurt that I am loyal BMW buyer/leasee. Fact is, some people get better deals and I prefer to keep it that way. Someone has to pay more and someone has to buy that CPO. Everyone thinks they make the best financial decision, even if they don't. Well, laugh at me with my new cars, you can enjoy your CPO. By the way, some of us also sell higher than others. I don't sell to CarMax or any other typical outlet either.

Those CPOs are the worse deals ever. Overpriced junk with outdated "tech". That garbage HUD was $2000 back in the day, so you get another 7% off of it, what a great deal. Some are true fiscal conservatives, but some people are just cheap without the will to do any homework. Their daddy told them to always buy used cars so they do it.

[530iDriver]

Originally Posted by openwheelracing

You need to do your own homework buddy. My 2018 Merc was 18% off, my 16 Bimmer was 22% off..etc. you might just throw up to find out my 2008 deal. It doesn't hurt that I am loyal BMW buyer/leasee. Fact is, some people get better deals and I prefer to keep it that way. Someone has to pay more and someone has to buy that CPO. Everyone thinks they make the best financial decision, even if they don't. Well, laugh at me with my new cars, you can enjoy your CPO. By the way, some of us also sell higher than others. I don't sell to CarMax or any other typical outlet either.

Those CPOs are the worse deals ever. Overpriced junk with outdated "tech". That garbage HUD was $2000 back in the day, so you get another 7% off of it, what a great deal. Some are true fiscal conservatives, but some people are just cheap without the will to do any homework. Their daddy told them to always buy used cars so they do it.

Originally Posted by openwheelracing

You need to do your own homework buddy. My 2018 Merc was 18% off, my 16 Bimmer was 22% off..etc. you might just throw up to find out my 2008 deal. It doesn't hurt that I am loyal BMW buyer/leasee. Fact is, some people get better deals and I prefer to keep it that way. Someone has to pay more and someone has to buy that CPO. Everyone thinks they make the best financial decision, even if they don't. Well, laugh at me with my new cars, you can enjoy your CPO. By the way, some of us also sell higher than others. I don't sell to CarMax or any other typical outlet either.

Those CPOs are the worse deals ever. Overpriced junk with outdated "tech". That garbage HUD was $2000 back in the day, so you get another 7% off of it, what a great deal. Some are true fiscal conservatives, but some people are just cheap without the will to do any homework. Their daddy told them to always buy used cars so they do it.

My 530 was only 8 months old when I got it and I would hardly call the car overpriced junk with outdated tech. Car still looked, felt and even smelled like new.

I get it, you hate used cars. Some people have a prejudice against preowned cars and prefer brand new. That's fine. But to trash those of us that buy CPO or used and paint with our vehicles with a wide brush of overpriced dated tech junk quite frankly smacks of elitist and arrogant.

The first year depreciation of luxury vehicles is ridiculous. But you can do with your money as you please. Who am I to judge?

This is my second CPO and have been very pleased with the purchase. A well researched and vetted slightly used BMW can be a terrific value/purchase. A poorly vetted one could be a nightmare and a waste of money.

For the price of a fully optioned (Or decently equipped) brand new Camcord, I got me a fine German sedan with the build quality, tech, comfort and road manners to match. Far more satisfying than any Asian mid market FWD family sedan.

Still under new car warranty and have extensions of the main warranty + BMW scheduled maintenance totaling up to 7 years.

I don't keep cars past 7 years, so in 6 years time I'll be in the market. If conditions are favorable with buy and factory order or go the CPO route.

[sbt007]

If someone keeps cars 5-6 years, the difference between buying new and a 3-year old CPO is not all that much - it is still there though but for many getting what you want and more years of warranty/free maintenance makes up for it. If it is like 10 years like someone mentioned earlier, then I don't see any point buying used. If you are keeping it for a few years and not really sure when you are trading in next, CPO is a good idea given you find what you want.

In the end, to me a car is always x amount of money spent per year. Whether you finance it, or lease it, buy it new or buy it used. Find out how much you would spend on it based on how long you will keep it, and divide by number of years. Are you ok with that amount. And that is all that matters. If you sell a 45K BMW for 15K after 5 years, then you got a new car for 6K per year. If you bought a 25K 3-year old CPO and sold for 10K after 4 years, then you spent about 4K per year. Do you care about the extra 2-3K per year. Some do, and some don't. And there is extra tangible value received for that extra cost, namely warranty and BMW maintenance. And value from owning the new vehicle. Of course I am just making up these numbers. Selling early after buying new is a big hit not only because of higher depreciation first couple of years, but also because of the sales taxes paid on the MSRP. This evens up gradually as the years build up.

[captainaudio]

I think that to remain price competitive BMW should stop making new cars and start concentrating in making certified pre-owned cars.

[530iDriver]

Originally Posted by captainaudio

I think that to remain price competitive BMW should stop making new cars and start concentrating in making certified pre-owned cars.

Considering that 80-90% of all new BMWs are leased, looks like they are already doing that.

[530iDriver]

Originally Posted by sbt007

If someone keeps cars 5-6 years, the difference between buying new and a 3-year old CPO is not all that much - it is still there though but for many getting what you want and more years of warranty/free maintenance makes up for it. If it is like 10 years like someone mentioned earlier, then I don't see any point buying used. If you are keeping it for a few years and not really sure when you are trading in next, CPO is a good idea given you find what you want.

In the end, to me a car is always x amount of money spent per year. Whether you finance it, or lease it, buy it new or buy it used. Find out how much you would spend on it based on how long you will keep it, and divide by number of years. Are you ok with that amount. And that is all that matters. If you sell a 45K BMW for 15K after 5 years, then you got a new car for 6K per year. If you bought a 25K 3-year old CPO and sold for 10K after 4 years, then you spent about 4K per year. Do you care about the extra 2-3K per year. Some do, and some don't. And there is extra tangible value received for that extra cost, namely warranty and BMW maintenance. And value from owning the new vehicle. Of course I am just making up these numbers. Selling early after buying new is a big hit not only because of higher depreciation first couple of years, but also because of the sales taxes paid on the MSRP. This evens up gradually as the years build up.

BMW CPO come with the balance of the new car warranty 4 years/50K miles. What changed back in 2014 is that the included maintenance (4 years at the time, 3 years from new) is no longer transferable to a second owner.

Also the CPO includes an extended 1 or 2 year warranty with unlimited miles with no out of pocket deductible. Of course you pay for it as part of the CPO certification. If you don't want it, then the dealer can strip the car from being a CPO and just sell it as any other regular used car...

[bavarianride]

Originally Posted by 530iDriver

Where can you get this mythical low spec brand new BMW for 20% off?

One option to grab such 20% off deals is to seek out President's men and/or women in Group F.

[buckybadger]

BMW will never be the same again.

Have to buy an M car with competition package to get close to the "real" BMW feel. Note, I meant close..still not same as older BMWs but close enough.

What you do get is a modern well sorted out suspension and much more power than you can handle. Of course I'm still talking about M cars.

Standard BMWs are just standard now.