Dealers refusing to negotiate on CPO

[NYC_X5]

Hey guys so my search for an X5 continues. Been looking for about 2 months now. I have been trying to close a deal on a CPO 2016 X5 35i nicely loaded with m sport, cold package, driver assistance/plus, premium package, contour seats, led package. Car has mid 40k miles and had been sitting on the lot for almost 3 months. Repair order history shows rear diff leak that has been fixed. A month ago I offered the dealer 40k out the door to their $40.7k asking price which was denied. Since then price had dropped to 39k and they weren’t willing to budge claiming they just had repainted the hood and two other body panels due to scratches. Price is now low 38s and they still aren’t budging on price.
Is my offer really that low or are dealers not willing to bring down the prices on their used inventory.

[Russmov]

Originally Posted by NYC_X5

Hey guys so my search for an X5 continues. Been looking for about 2 months now. I have been trying to close a deal on a CPO 2016 X5 35i nicely loaded with m sport, cold package, driver assistance/plus, premium package, contour seats, led package. Car has mid 40k miles and had been sitting on the lot for almost 3 months. Repair order history shows rear diff leak that has been fixed. A month ago I offered the dealer 40k out the door to their $40.7k asking price which was denied. Since then price had dropped to 39k and they weren’t willing to budge claiming they just had repainted the hood and two other body panels due to scratches. Price is now low 38s and they still aren’t budging on price.
Is my offer really that low or are dealers not willing to bring down the prices on their used inventory.

So they initially wouldn't take 700 dollars off the price for a sale? Now it's lowered to 38k?
I bet they wish they took your 40k offer now.
If it was worth 40k to you before, 38k seems like a better deal now, no?

[NYC_X5]

Originally Posted by Russmov

So they initially wouldn't take 700 dollars off the price for a sale? Now it's lowered to 38k?
I bet they wish they took your 40k offer now.
If it was worth 40k to you before, 38k seems like a better deal now, no?

40k out the door. Including taxes and fees.
My asking price was within kbb/nada market values for similarly speced cpo’s. Their asking price was either above or at the high end of the market.

[Russmov]

Originally Posted by NYC_X5

40k out the door. Including taxes and fees.
My asking price was within kbb/nada market values for similarly speced cpo’s

Yeah sorry I thought about the taxes and everything after I posted my initial message.

[brevets10000]

Originally Posted by NYC_X5

Hey guys so my search for an X5 continues. Been looking for about 2 months now. I have been trying to close a deal on a CPO 2016 X5 35i nicely loaded with m sport, cold package, driver assistance/plus, premium package, contour seats, led package. Car has mid 40k miles and had been sitting on the lot for almost 3 months. Repair order history shows rear diff leak that has been fixed. A month ago I offered the dealer 40k out the door to their $40.7k asking price which was denied. Since then price had dropped to 39k and they weren’t willing to budge claiming they just had repainted the hood and two other body panels due to scratches. Price is now low 38s and they still aren’t budging on price.
Is my offer really that low or are dealers not willing to bring down the prices on their used inventory.

So you liked it at $40k and ready to buy but now at $38k you are not?

Sounds like they did bring down their price but you keep negotiating on the newly discounted price?

How much are taxes?you have to be close now to the original price you were happy to pay

[Reign2016]

I would be weary of a car that had to be "repainted"
there are many many 2016 cpos for sale. I just got one (and love it). Keep looking. Price seems high for 40K miles too.
look on the bmw cpo listings and track down the ones you like.
which dealer is this?

interestingly, the prices shown on the cpo website are lower than the prices they show when you go to the dealer themselves...
if you have a trade, in you can ask them to add $ to your trade-in value if they cant go below a certain price on the car too

[NYC_X5]

Originally Posted by brevets10000

So you liked it at $40k and ready to buy but now at $38k you are not?

Sounds like they did bring down their price but you keep negotiating on the newly discounted price?

How much are taxes?you have to be close now to the original price you were happy to pay

Just to reclarify it’s 40k out the door. They wanted 40.7 before taxes and fees.
Their price drops have been on their site, not in response to negotiating with me.
Taxes for nyc would be about $3.3k depending on final price ofcourse.
With their current listing price of low 38k + taxes and fees, there’s about a $1.5-2k difference.

[artem123]

Originally Posted by NYC_X5

Just to reclarify it’s 40k out the door. They wanted 40.7 before taxes and fees.
Their price drops have been on their site, not in response to negotiating with me.
Taxes for nyc would be about $3.3k depending on final price ofcourse.
With their current listing price of low 38k + taxes and fees, there’s about a $1.5-2k difference.

Sorry, but let me ask you what exactly do want people to do here?

[NYC_X5]

Originally Posted by Reign2016

I would be weary of a car that had to be "repainted"
there are many many 2016 cpos for sale. I just got one (and love it). Keep looking. Price seems high for 40K miles too.
look on the bmw cpo listings and track down the ones you like.
which dealer is this?

interestingly, the prices shown on the cpo website are lower than the prices they show when you go to the dealer themselves...
if you have a trade, in you can ask them to add $ to your trade-in value if they cant go below a certain price on the car too

Looking for cars in the tristate area, it’s almost impossible to find those that have not had some type of paint work done to fix chips/scratches. For every car I contact the dealer about I ask for cpo checklist and their work order, 75% show the usual bumper scratches and or chips on hood that were repaired.

And yes there’s a price difference online vs at the dealership, usually lower online. As one dealer said, online they need to be somewhat more competitive with their pricing.

[NYC_X5]

Originally Posted by artem123

Sorry, but let me ask you what exactly do want people to do here?

Provide a 10% off coupon...

Provide their input on their purchases, was dealer willing to negotiate on their asking price or did they stick to their initial price.
Seeing if my asking price is too low for the current market.

[Reign2016]

both Rallye and Freeport BMW (both on LI) were willing to negotiate their asking price.

[artem123]

Originally Posted by NYC_X5

Provide a 10% off coupon...

Provide their input on their purchases, was dealer willing to negotiate on their asking price or did they stick to their initial price.
Seeing if my asking price is too low for the current market.

LOL, no harm intended) Happy negotiating)

[brevets10000]

Broaden your cpo search range at cpo.bmwusa.com

find what you want in what you think is a reasonable drive, rent a one-way car or fly, pick up and drive back. Plenty negotiate - I negotiaged the deal I wanted in NC while on a business trip to California. Got my price, gave them a deposit. picked up later in the week via a one-way rental car

There was one at Rick Hill Imports back in October I wanted to buy. They would not budge and I moved on. It is still sitting there and $3k cheaper now. Their car, their bad deal, whatever.....

[The Libertine]

Originally Posted by NYC_X5

Provide a 10% off coupon...

Provide their input on their purchases, was dealer willing to negotiate on their asking price or did they stick to their initial price.
Seeing if my asking price is too low for the current market.

I’ve yet to have a Dealer say the price was not negotiable. There’s always a pressure point in a negotiation strategy, you’re just not pressing in the right places.

And I’ll give you a bit of advice; if you’re continuing to engage this Dealer even after they claim no negotiation - that’s a “you” problem. And shows you’re very interested in buying, so where’s the motivation on the Dealer’s part to sell?

You need to show you’re ready to walk. Because that’s the first thing I would do if negotiating with this Dealer.

[ComasF15]

You should broaden your search area.

We picked up a CPO that was resold to Autonation. Carfax revealed it was a CPO that a dealer auctioned. We took home a vehicle with fresh tires, and CPO inspections without the $3-4K markup still within the 4/50 warranty.

Patience required.

[Mdlooker]

As brevets10000 said, if you can-broaden that scope. I was in the md area and all of the dealers weren't really budging with anything I was asking. I broadened my scope, found a salesman who was working with me and got me a fully loaded model with much more than what I was asking with a deep a deep discount; I went to Atlanta to pick it up-he had it shipped from TN.

[Kraftwerk AG]

Originally Posted by NYC_X5

Hey guys so my search for an X5 continues. Been looking for about 2 months now. I have been trying to close a deal on a CPO 2016 X5 35i nicely loaded with m sport, cold package, driver assistance/plus, premium package, contour seats, led package. Car has mid 40k miles and had been sitting on the lot for almost 3 months. Repair order history shows rear diff leak that has been fixed. A month ago I offered the dealer 40k out the door to their $40.7k asking price which was denied. Since then price had dropped to 39k and they weren’t willing to budge claiming they just had repainted the hood and two other body panels due to scratches. Price is now low 38s and they still aren’t budging on price.
Is my offer really that low or are dealers not willing to bring down the prices on their used inventory.

This came from TheVazha over on the F85 forum re: lease return F85's for sale, F15/F16's should be similar.

Originally Posted by TheVazha

They're starting to come back in full force these returns. There are 6 now for sale locally and 4/6 have already lowered their price. One at BMW of Monrovia in LBB on black is at $58,xxx with 20 something thousand miles. Car looks awesome. I'm holding out for a black on black and there's a couple just over $60K, two have already had price reductions.

I am told BMW dealers have to be competitive after 90 days as they do not own the cars, rather BMWUS owns them and the rate goes up after 90 days on the lot. It would be interesting to see what happens to this first round of lease returns in the next month or two. My feeling is they will be very competitive as they have more returns coming back and they're not able to trade out of the ones they already have.

I'm realistic on pricing but I don't see anyone spending $70K (tax/title/drive off) for a 3 year old X5M.

[RED_Y_]

Let it sit for a while and look around some more as well. When I was shopping for mine, I loved it but they were asking too much. Waited 6-7 weeks, came back with a list of CPO X5s I found in the 200 miles radius and got the price I wanted.

[HJ]

Originally Posted by DeeO

This came from TheVazha over on the F85 forum re: lease return F85's for sale, F15/F16's should be similar.

Think it's a bit different for the 35i's they seem to hold much better resale value than a M or 50i. The price difference at my dealer for the 35i and 50i is about 2k now

[TheVazha]

Originally Posted by brevets10000

So you liked it at $40k and ready to buy but now at $38k you are not?

Sounds like they did bring down their price but you keep negotiating on the newly discounted price?

How much are taxes?you have to be close now to the original price you were happy to pay

Originally Posted by artem123

Sorry, but let me ask you what exactly do want people to do here?

It's not that the price is not good, its about the natural process of negotiation.

I'm making two to three offers per day on various sites. These retards from Florida on a MB E63S tried to tell me that they bought it for $55K, and were offering it for $53.5K, already taking a loss. The car is worth $48.2K MAX. So because they overpaid it (assuming they're not full of shit, which they probably are) they pass the shaft to the buyer? Nope. That's why this car will sit, and sit, and sit, and finally it'll sell at $46K because by the time they pull their heads out of their ass it would have depreciated below today's realistic value.

I'm looking at 2016 MB GLE63's. There are a few out there listed at $69K+-. No chance. No chance a 2016 GLE with 28K+- miles sells for $76,000 (all in drive off).

Same thing with X5M's. Don't get me wrong, they're worth every penny, I just don't see them selling for $70K. They're 3+ years old, new body is out, and gas in CA is $4.20/gallon.

The big problem is that dealers really don't care. They can hold a car for long enough, and reduce the price in tiny increments that the car sells to a sucker before it gets to realistic market price. You see it all the time. Someone on the forums comes on asking a super high price and everyone jumps on them about it. It's not that they're unrealistic, it's just that they made a shitty deal on the purchase.

Go to TrueCar and punch in the stats. It'll poop out a realistic market value. Do the same with Edmunds. Print Car Guru listings and take them to the dealer. Show them where the realistic value is. Write them a check at what you want to pay for the car and tell them it expires in 48 hours.

Most important, be prepared to walk. Dealers stay in business by making a profit. You can't fault them for this. But you could come in prepared with research.

[Wah]

Always have a similar but cheaper option B at another dealership and make sure the dealer knows about it... even if you don't really plan to buy the B option. He doesn't need to know that... As far as he's concerned, if they don't give you a better deal on A, then you're going to to go with B. I also found that they are much more willing to negotiate if they know you are serious... like, in person, ready to put a deposit on it. My dealer wouldn't budge on my cpo x5. That is, until I found another well equipped one 30 min away that was $1500 cheaper and told my CA I was buying one of the two that weekend. Suddenly, their asking price went down...

[smyles]

Search nationwide; with CPO you really minimize most of the risks, and expanding the search gives you much more selection. Shipping isn't all that difficult nor expensive even if you have to arrange it yourself.

P.S. I'll never buy a used car from NY/NJ, no matter of it looks, history or whatever. Speaking from experience.