CPO cost for a second owner?

[gaeko]

Hi all! I'm very nearing the process of purchasing a used M3 and i'm ironing out the details.

I met with a private seller about an M3 and he claims BMW quotes him $2500 for a CPO. Considering he was the original owner, I imagine they offered this to him upon initial purchase. He claims the offer is available to anyone but I doubt he has his facts straight...

So what can I expect to spend if I purchase a CPO warranty with BMW before the manufacturer's warranty is up? Is it even doable, or do I need to be the original owner?

[disapr]

To my knowledge a BMW can only be certified while it is titled to a BMW dealership. The cost is around 3k depending on what service is required to bring it up to spec.

If you are buying from a private seller your best bet is probably going to be a third party warranty service.

[isugoo]

you have to work with BMW dealer.
Basically
Seller sell his M3 to dealership > dealership buy the M3 and CPO > you buy CPOed M3 from the dealer.

Most of dealership will work with you on this since they'll make some money and sales figure.

[persian54]

Why not have the seller CPO it then sell it to you? or does it not work that way?

[gaeko]

Originally Posted by persian54

Why not have the seller CPO it then sell it to you? or does it not work that way?

I don't see why not. I'm also entertaining this idea.

Obviously if I could get the same price and option to buy a CPO later, why not wait?

[shendrick]

Why would dealer provide a CPO service to a seller? This is part of the advantage the dealer offers a buyer so they would never dilute it.

[Crazy Bimmer]

Originally Posted by isugoo

you have to work with BMW dealer.
Basically
Seller sell his M3 to dealership > dealership buy the M3 and CPO > you buy CPOed M3 from the dealer.

Most of dealership will work with you on this since they'll make some money and sales figure.

Wouldnt it be less hassle and cheaper just for him to buy an extended warranty?

[JCtx]

Now you don't have to be the original owner to buy a BMW extended warranty, so you can wait until the last minute to buy it, if you feel compelled to do it. The BMW extended warranty is one of the best as far as coverage, but it's NOT the same as the factory bumper-to-bumper. And unless you're going to drive the wheels off the car, it's just not worth it IMO. Their plans are 7-yr/75K miles or 6-yrs/100K miles, and cost the same (forgot the amount, but like 4 grand). And remember those are figures from new, so in reality, you're buying a 2 or 3-yr warranty.

And no, BMW won't approve 'CPO' status unless an authorized dealer owns the car. And if car is in immaculate condition, it costs A LOT less than $3K to certify; that's what they want you to believe . But it's a good incentive to sell used cars.

[gaeko]

Originally Posted by elp_jc

Now you don't have to be the original owner to buy a BMW extended warranty, so you can wait until the last minute to buy it, if you feel compelled to do it. The BMW extended warranty is one of the best as far as coverage, but it's NOT the same as the factory bumper-to-bumper. And unless you're going to drive the wheels off the car, it's just not worth it IMO. Their plans are 7-yr/75K miles or 6-yrs/100K miles, and cost the same (forgot the amount, but like 4 grand). And remember those are figures from new, so in reality, you're buying a 2 or 3-yr warranty.

And no, BMW won't approve 'CPO' status unless an authorized dealer owns the car. And if car is in immaculate condition, it costs A LOT less than $3K to certify; that's what they want you to believe . But it's a good incentive to sell used cars.

This helps a lot. After doing some research I realized what i'm after is an extended warranty, and not a CPO.

I'm only available to drive the car on the weekends so I average 5k miles a year...after some thought and reading through a lot of posts it sounds like the M3 is a solidly reliable car. I'll likely take my chances and opt out of the extended warranty.

[JCtx]

Originally Posted by gaeko

I'll likely take my chances and opt out of the extended warranty.

That's probably the smartest thing to do. And any M3 should have at least 1 year left of warranty (mine has almost 2, and it's an '08), giving you plenty of time to make a final determination once you have lived with the car for several thousand miles. I'm on your same boat; I'm selling mine with only 8K miles, so spending $4K+ on a warranty that goes to 75K or 100K miles makes little sense. Any repair you might encounter would likely cost a lot less than that. Good luck.