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E90 M3 (Sedan) | E92 M3 (Coupe) | E93 M3 (Convertible) (2008-2013) {Engine: S65 - Max Hp: 414 hp (420 hp Euro) at 8,300 rpm / 295 lb/ft at 3,900 rpm}


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Old Sun, Mar-27-2011, 05:36:53 AM   #1
16n69
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Arrow Dealer-Private-CPO?

I am considering purchasing a pre-owned M3…even though I can afford to buy it new. I guess it is my somewhat sensible side, the investor in me, that the thought of a 33% or more hit of depreciation over the 1st 2 yrs, well just irks me. As much as I love nice cars, fast cars…I love even more wise investments that generate income or appreciation & equity. So I think I may try to find a 2 yr. old M3 with low miles.

My questions are…what are the best ways, if possible, to determine if a particular M3 was a well cared for car?
And...Dealer or Private Party?

My 1st BMW 3 series was a real "cream-puff"…a great used car find…six yrs. old, w/ 25,000 miles, every service record and at all the proper intervals serviced at the Dealer it was sold from, driven by an old lady who took very good care of it (no one had even sat in the rear seats).

I do not expect to ever find a M3 that was a "cream-puff" or garage queen, as these are "driver's cars". My dealer / salesman (whom I trust)…says that they can CPO any car…but WHY. Why add the $3,500. to the price of the car, when the Dealership's inspection is even more extensive than BMW CPO's …and why replace items not up to CPO "snuff", when under warranty & the free maintenance will replace for the buyer anyway? And as far as the "extended" warranty goes, beyond the factory warranty…you can purchase better 3rd party ones, (my salesman said).

Desert BMW of Las Vegas, is part of the Auto Nation Group, the largest auto group in the U.S., so my guy says they do not fool around and have too great of a "rep' to uphold, to be passing off bad cars.
HOWEVER, bazillion point inspections cannot insure the car was broken in right and warmed up right each time driven.
On the other hand, a "private" owner can swear to anything…?

None of this, whether CPO or not, whether a private owner that swears that they "baby'd" the car (anybody can claim anything)…can determine if the previous owner broke the car in correctly, or waited until the temperature reached proper levels before "getting on" the car and revving near redline, etc. .

What is the consensus for ways to determine if a M3 has been abused and not properly broken in and beyond?

Also, would one have a better chance getting a car that is solid from a Dealer vs. Private individual?
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Old Sun, Mar-27-2011, 12:16:54 PM   #2
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Default Re: Dealer-Private-CPO?

I bought a CPO. I think you could do just as well with a private party and a good aftermarket warranty, but that warranty will cost the same as a CPO and there are stories about poor aftermarket warranties. I think you will end up in about the same place, but might have more fun shopping with the private parties. You will run in to all sorts of people, but one will probably be just the type you are looking for.
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Old Sun, Mar-27-2011, 02:57:01 PM   #3
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Default Re: Dealer-Private-CPO?

Just look at the maintenance history of any car. If it doesn't have receipts of maintenance visits, then don't buy it. I think you can tell between that and visual whether a car was cared for or just treated like transportation.
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Old Sun, Mar-27-2011, 04:30:47 PM   #4
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Default Re: Dealer-Private-CPO?

Quote:
Originally Posted by 16n69 View Post
[B]My questions are…what are the best ways, if possible, to determine if a particular M3 was a well cared for car?]
I've been buying used cars for a long time, and my personal strategy is to meet the owner of the car to get a feel for what he's done to it.

I'm not afraid of miles, I'm afraid of abuse. If the owner of a car shows me how cool it is by redlining as soon as he gets in, he doesn't care too much for warming the oil up before stepping on it.

The big problem I find with dealers is you don't get to meet the owner and see what he's been up to and that dealers, unlike normal people, are more likely to be professional liars.

I too understand that these are drivers cars, so I expect the owner to drive it hard. But there's a line between hard driving and abuse.

Dealer warranties don't really give me peace of mind. A car that has been abused or not broken in properly will, for example, eat some oil. This will never be fixed under warranty, so the nice CPO warranty is pretty useless.

I'd buy private party, which should be cheaper than the dealership, and then extend the warranty when the original one expires if you want.


Cheers
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Old Sun, Mar-27-2011, 04:31:26 PM   #5
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Default Re: Dealer-Private-CPO?

Quote:
Originally Posted by pbonsalb View Post
You will run in to all sorts of people, but one will probably be just the type you are looking for.
THIS is what I look for
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Old Sun, Mar-27-2011, 06:45:58 PM   #6
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Default Re: Dealer-Private-CPO?

This thread has been pretty insightful. I was looking in the CPO territory, but I may go PP + AF warranty now. Thanks guys
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Old Thu, Mar-31-2011, 10:33:11 PM   #7
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Default Re: Dealer-Private-CPO?

I buy a lot of cars. I always prefer private party with all service receipts. If you are buying from the original owner even better.

You will pay a lot more for CPO.

Most dealers get the cars from auction and don't know the history. Car fax only shows major accidents, salvage titles, etc. Car fax won't show a fender bender etc, and you don't know how the previous owner treated the car.

I always prefer to meet the current owner in person and that's why I prefer private party sales. Just make sure the current owner has all the service records from when the car was new.
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Old Thu, Mar-31-2011, 10:35:31 PM   #8
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Default Re: Dealer-Private-CPO?

Aftermarket warranties are a waste of $$$. Many of them go out of business and your stuck.

I've bought at least pre-owned cars15 cars, usually private party sales, and never needed a warranty.
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Old Sat, Apr-02-2011, 07:57:24 PM   #9
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Default Re: Dealer-Private-CPO?

Quote:
Originally Posted by RaceCarDriver View Post
I buy a lot of cars. I always prefer private party with all service receipts. If you are buying from the original owner even better.

You will pay a lot more for CPO.

Most dealers get the cars from auction and don't know the history. Car fax only shows major accidents, salvage titles, etc. Car fax won't show a fender bender etc, and you don't know how the previous owner treated the car.

I always prefer to meet the current owner in person and that's why I prefer private party sales. Just make sure the current owner has all the service records from when the car was new.
How do you "deal" with paying for the car from a p.o., how do you know how much he owes on his note, if he owes, how do you get the title, prevent him skipping on you once you pay him and left with a car with no title 'cause he owes the bank an does not pay up...
I assume,it is easy, if he has an authentic DMV title, 'cause car is paid for...but if it is not, he cannot show you the title, and cannot pay it off to get it until you pay him for the car???
I just have NEVER bought from a p.o ,only dealers, or CarMax, because of the professional Licenses & reputation / accountability / recourse.
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Old Sun, Apr-03-2011, 03:21:52 PM   #10
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Default Re: Dealer-Private-CPO?

I wld want to know how many times the brake pads had been replaced and how much wear was on the current pads. For instance, my M3 w/34K miles is still on 1st set of pads, wh probably indicates relatively gentle use (tho those miles do include 4-5 track days). I am on same set of front tires, also a strong indicator of how the car has been driven. Probably 10K of those have been on my snow tires tho.
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Discussing Dealer-Private-CPO? in the E90 M3 (Sedan) | E92 M3 (Coupe) | E93 M3 (Convertible) (2008-2013) Forum - {Engine: S65 - Max Hp: 414 hp (420 hp Euro) at 8,300 rpm / 295 lb/ft at 3,900 rpm} at BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X)