Deal, or no deal... what do you think?

I am having my 2003 cab as a daily driver and am thinking about adding another daily driver, so I can rotate. Also, even though the kids (3 and 5) do fit in their boosters, it is a bit tight (I am 6.3). Hence, have been lurking around for a BMW 5 series. Found a local trade-in at our MB dealership... 2007 530i. Was first registered in May 2006, 19K miles, premium package, cold weather package, and some other nits and nats. $54K sticker. So this is the story. Drove the car last week and went by again this AM and they had already moved the car on the truck to ship it to (I believe) West Palm to auction it off. They got it off the truck and back to the dealership and I drove it again. Really like it, so it is now all about price. I have him down to $37,650, which is what he believes he can get for the car at auction. What do you think about that price?

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Please don't think I'm being in the slightest dismissive, not even a whiff of a flame, but have you posed this question, possibly without the references to your Porsche) on a BMW board? I spent alot of time on this board before I bought a Porsche. Also Kelly Blue Book and ebay are good places to get an estimate of value pretty quickly.

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You are absolutely correct, but I don't know of a good BMW board, so am open for suggestions. Checked KBB and Edmunds, and it seems to be a pretty good deal according to those. However, have found prices to be all over the place and hence do not put a lot of faith in KBB/Edmunds.

http://www.bimmerforums.com That seems like a great deal to me though.

www.e60.net dedicated to everything on the current 5 series.

sounds like a good deal to me, but I'm no expert on BMW pricing.

Up here in NJ, every dealer I have talked to uses Galves for pricing. They all think KBB and Edmunds are off. Unfortunately Galves requires you to pay up front to see their prices. If I was looking to buy or see though, that is where I would look to get accurate pricing.

roadfly.com

Check out the black book price which is compiled from the most recent mannheim auction data, which is where they'll take the car to sell. Do a google search for "black book" and you'll find a couple of sites that charge you a buck or two for the quote, but well worth it.

Note that he will still have trucking & sales commission fees. So, there still may be some bargaining room. Even so, what he thinks he can get for it at the auction is still a gamble.

Dutchie, Sounds like a very good price for a car that is nearly brand new. A couple of points: 1) Anytime you can purchase a car for auction prices or wholesale prices you are way ahead of the game. I would look at kelly, edmunds, etc to get "ball park" pricing on used just to compare the $37.5K price. Seems to me the auction price would have to be $7K less than those kelly or edmunds private party prices for the dealer to be telling you the truth. 2) MFletch can give you more accurate numbers as he purchases from auctions. 3) Why did the original owner trade it back in in such a short time? You can obtain the original owner's information in a few ways. a) If originally purchased there, walk into the service department and ask the service manager to look up the service records of the vehicle (prior owner's name should be on the print out). If not originally purchased there find out if the dealer it was purchased at, is local and go do the same at their service dept. b)check inside the owner's manual, there is often a name or some paperwork left inside. (last two vehicles I purchased this was the case). Good luck. I have purchased a few cars like you are about to. It is just a bit risky but not "way out there". Let us know if you go forward with it. Sounds like a great car. Andy T

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Thanks for the advice... I did call the original dealer, but they did not want to give the details. Booklet shows it has been serviced though. I have checked pricing on eBay, Auto Trader, cars.com, craigslist, BMW dealerships, etc, etc., and this price seems to be very good for a nicely loaded, low mileage car. Car still has 2.5 yrs of original warranty left and 2.5 yrs of full service is included as well. Called him up this morning and asked him to get me out of the door at $39K (incl tax, title, doc, etc). He was ok with that, so I guess I have bought it for about $37,170. All in all, not a bad price I think.

Sounds like a good price, don't beat yourself up over a slightly better price. You took the time to compare it with others for sale and you are way ahead of the others. Go for it.

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Dutchie, sounds good. Are you going to get a PPI completed on the car?

Dutchie, I was offered extended warranty coverage up to 100K miles at a cost before the original factory warranty expired several years ago. I don't know if that program is still available if you decide to keep your car longer in a few years.

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Yes, i will

Congratulations on your new purchase. If we come down for the Charlotte Porsche event and it's not too inconvenient maybe we can see it there. Sounds like you did great. Congrats again.

Sounds like you're happy with the deal, and that's really all that matters. You can't go wrong with a modern Bimmer, I've got one on order (335 coupe) and the 5 is super safe. I just totalled one and the car really performs well in accidents. That's one day I was glad I wasn't driving the 911. I hit an SUV (Expedition) that turned left in front of me, Edwards Mill Rd. & Duraleigh, for you Raleigh folks. Even after the impact he still drove over the hood of my car (5 series). I hate to think how far under that thing I would have ended up in the Porsche. I don't dwell on it though - it's my daily driver until the BMW comes in. Anyway, congrats! Michael Seal Gray '02 Cab (sound familiar?)

if u were a buddy of mine and you asked me for advice like above... i'd be frank with you and say: -it's a commuter car and you need space -I know the little ones in my family trash cars by just being kids -why spend all that money on a the honda accord of germany that's going to be a pain in the **** to fit kids in the back since the car is a mid-sized sedan -why not just save your $ and get yourself a used Honda Element or something practical along these lines? With the $40K you're dropping on the ubiquitous bimmer mid-level sedan (ain't nobody gonna throw their panties at you or stroke your ego with the propeller badge really you have the 911 for that), middling 530, get back $20K+ and use it for something else or save it. my honest advice

Dutchie, I think you did well and that the deal is fair. Don't beat yourself up over price, even if you might have gotten it for a few $$$ less. 5 series are great cars - enjoy it. Nice DD, especially with two young kids. Enjoy!!

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Your honesty is appreciated and if it wasn't for the fact that we also have a minivan (Toyota Sienna) as the primary troop carrier, I might have bought an Element or something. PS don't give me too much **** for the minivan... I have been trying to keep that quiet for the past 2 years or so that I have been posting here

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Thanks Phil!! Now the question is, if I am going to drive more miles than you in the P car in 2008?? I did drive it every day for the first 23 days of this year, so I probably got you covered.

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Ben... wasn't really looking for any panty throwing, so not feeling too bad about that. Agree, on saving the $20k... but there I would be driving around in some Japanese car being unhappy, while seeing my $20K vanish in the stock market. Rather be happy while driving a nice and save car (and I agree, nothing special, sexy, or anything). Life is too short not to enjoy it! Also, while I drive the P car, my wife can upgrade to the B car... that may get me some panty throwing

LOL - hey i am a fan of practicality and my penchant for a flashy car as a "getaway" car makes me desire an anonymous, spacious, utlitarian car all the more to balance things out a bit. so in a sense i am a fan of the mini-van. cool of u for not taking things personally which many of the guys here do with some of the things i say (sensitive dudes here) bahaha enjoy the 5 series.

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You won't get sh*t from me, as we've also had a minivan (Odyssey) for 4 years. I like to think of it as the "Porsche" of minivans. Congrats on the new 5!

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To all on the board: let it be noted... Ben is a fan of the mini-van! Ben, you were the last person I expected that from ... I thought you were going to give me a pile of sh3t on that! Ben, I would like to see what kind of wheels you would put under a Sienna or Odyssey... Tim/Riad, Photoshop opportunity!!

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what can i say i'm a renaissance man WHAHAHAHAHHAHA i think the japanese got this minivan car culture thing going. i know when to keep an apple an apple. i'd keep it stock, but i would put in a bumpin' sound system and tint it up real dark so no one sees me.