Pre Purchase Question 2008 550i

bluechipbmw · 10-08-2011, 09:21 PM

I'm wondering if it's foolish for me to buy a 2008 BMW 550i with 50k miles for $32k that's not CPO? I would be purchasing this from a private dealer not a BMW dealer.

Are there certain things that I should look for or see if they were fixed or replaced? Any advise to pass along before I pull the trigger?

Thanks

elias · 10-08-2011, 10:09 PM

Quote:

Originally Posted by bluechipbmw

I'm wondering if it's foolish for me to buy a 2008 BMW 550i with 50k miles for $32k that's not CPO? I would be purchasing this from a private dealer not a BMW dealer.

Are there certain things that I should look for or see if they were fixed or replaced? Any advise to pass along before I pull the trigger?

Thanks

I would take it to a trusted BMW Indy mechanic have it throughly checked out before you consider buying the car especially if its from a private dealer.

bluechipbmw · 10-09-2011, 06:05 AM

Thanks. I will definitely consider doing that.

BL 5 · 10-10-2011, 10:44 AM

Maybe run it by a good quality collision shop too. They can spot any issues in a few moments.

bluechipbmw · 10-10-2011, 02:47 PM

I called 3 local BMW dealers to find out they don't offer a pre purchase inspection for liabilities. I also learned if the car has more than 50k miles I can not get the BMW extended warranty or have it CPO'd unless I got to a third party company.

elias · 10-10-2011, 02:56 PM

Quote:

Originally Posted by bluechipbmw

I called 3 local BMW dealers to find out they don't offer a pre purchase inspection for liabilities. I also learned if the car has more than 50k miles I can not get the BMW extended warranty or have it CPO'd unless I got to a third party company.

If you look at my post I said to go to an Independent BMW mechanic in your area they should charge around $100 to $150 dollars to get the car inspected.
Yes once a BMW is past 4 years old or 50,000 miles the price drops for obvious reasons. The CPO adds 2 years or up to 100,000 miles to the original factory warranty.

BMW BRAD · 10-14-2011, 11:40 AM

Dont do it! There are CPO's out there for around the same price! Take your time and keep looking............

bluechipbmw · 10-14-2011, 11:49 AM

Quote:

Originally Posted by BMW BRAD

Dont do it! There are CPO's out there for around the same price! Take your time and keep looking............

I actually didn't go through it. I've been looking but I can't seem to find a reasonably priced CPO in the NY area. They all happen to be out of state.

So the search continues.......

aman27 · 10-14-2011, 11:57 AM

I am selling my 535i CPO with low miles 31k for $33k . Fully loaded HUD, Sport, Nav, and more .. Im in NY

fishingfish · 10-21-2011, 08:44 PM

Totally Agree!!! better off buy a CPO one!! should not be too much different on pricing~~

mleedom · 01-31-2012, 11:52 PM

Don't do it trust me!!! I bought an 08 550i CPO and a month later shit went horribly wrong: new transmission, new computer, new vacuum pump, new navigation system. Thank god for CPO! Keep in mind it only had 21k miles when I bought it.

djinferno · 02-01-2012, 10:23 AM

All these guys telling you not to do it will be the same guys selling in a minute and saying the oposite...

So what all these fools are saying is e60's are bad cars used?

I just did what you are about to do, I got it checked obviously but checking don't tell you much...

Make sure all the parts and accessories are there because replacing them can be pricey, case and point, the covers for the hooks in the back seat are 40$ each, theres 4...

Make sure the cars interior is in good condition, seats, dash, trim, iDrive etc...

Make sure you get all the options you want in the car because after market stuff in these cars are hit and miss... I added iPod integration from BMW after buying it

The important thing here is to remember that these cars (well cars in general now a days) have allot of electronics so there theoredicly allot that can go wrong so a good third party warranty was a must to me for piece of mind...

Thats what I did...

hope this helps...

mleedom · 02-02-2012, 02:10 AM

@djinferno

That's not at all what we are saying about these cars. What we are saying is that things go wrong and when they do it's expensive with a BMW. I inspected almost every part of my CPO 550 before I bought it, did I anticipate getting a new transmission because of fluke issue of course not. A few thousands dollars goes a long way for a piece of mind.

P.S since my original post I woke up to an oil leak from the vacuum pump. Called the dealership and they fixed it the same day. All I'm saying is unexpected things happen with all cars and if you can cover yourself upfront with a few extra bucks, you should do it.

djinferno · 02-02-2012, 08:39 AM

Quote:

Originally Posted by mleedom

@djinferno

That's not at all what we are saying about these cars. What we are saying is that things go wrong and when they do it's expensive with a BMW. I inspected almost every part of my CPO 550 before I bought it, did I anticipate getting a new transmission because of fluke issue of course not. A few thousands dollars goes a long way for a piece of mind.

P.S since my original post I woke up to an oil leak from the vacuum pump. Called the dealership and they fixed it the same day. All I'm saying is unexpected things happen with all cars and if you can cover yourself upfront with a few extra bucks, you should do it.

where saying the same thing...

Bimm3rDreamer · 02-05-2012, 03:38 PM

I'm looking to buy a used BMW myself and was wondering what third party warranty did you end up getting and how has it been.

Quote:

Originally Posted by djinferno

All these guys telling you not to do it will be the same guys selling in a minute and saying the oposite...

So what all these fools are saying is e60's are bad cars used?

I just did what you are about to do, I got it checked obviously but checking don't tell you much...

Make sure all the parts and accessories are there because replacing them can be pricey, case and point, the covers for the hooks in the back seat are 40$ each, theres 4...

Make sure the cars interior is in good condition, seats, dash, trim, iDrive etc...

Make sure you get all the options you want in the car because after market stuff in these cars are hit and miss... I added iPod integration from BMW after buying it

The important thing here is to remember that these cars (well cars in general now a days) have allot of electronics so there theoredicly allot that can go wrong so a good third party warranty was a must to me for piece of mind...

Thats what I did...

hope this helps...

djinferno · 02-05-2012, 05:23 PM

peoples choice is what i got, in canada

bimmer_335 · 02-07-2012, 10:25 AM

in general, how is E60 when it comes to reliability? I'm looking for a used one as a second car.

I know these are used bimmers... repairs are expensive and all. I currently have 335 coupe but its been very reliable. No major issues. I'd think 550 should be even more reliable not less given that it dont have HPFP.

10-08-2011, 09:21 PM	#1
bluechipbmw New Member 0 Rep 10 Posts Drives: Unknown Join Date: Oct 2011 Location: NY iTrader: (0)	Pre Purchase Question 2008 550i I'm wondering if it's foolish for me to buy a 2008 BMW 550i with 50k miles for $32k that's not CPO? I would be purchasing this from a private dealer not a BMW dealer. Are there certain things that I should look for or see if they were fixed or replaced? Any advise to pass along before I pull the trigger? Thanks
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10-09-2011, 06:05 AM	#3
bluechipbmw New Member 0 Rep 10 Posts Drives: Unknown Join Date: Oct 2011 Location: NY iTrader: (0)	Thanks. I will definitely consider doing that.
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10-10-2011, 10:44 AM	#4
BL 5 Private First Class 35 Rep 197 Posts Drives: 2015 i3 REx, 2018 Tesla P3D Join Date: Aug 2011 Location: WA iTrader: (0)	Maybe run it by a good quality collision shop too. They can spot any issues in a few moments.
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10-10-2011, 02:47 PM	#5
bluechipbmw New Member 0 Rep 10 Posts Drives: Unknown Join Date: Oct 2011 Location: NY iTrader: (0)	I called 3 local BMW dealers to find out they don't offer a pre purchase inspection for liabilities. I also learned if the car has more than 50k miles I can not get the BMW extended warranty or have it CPO'd unless I got to a third party company.
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10-14-2011, 11:40 AM	#7
BMW BRAD Lieutenant Colonel 204 Rep 1,890 Posts Drives: F10 535d M, F31 328d M Join Date: Oct 2008 Location: Chino Hills Ca. iTrader: (13)	Dont do it! There are CPO's out there for around the same price! Take your time and keep looking............ __________________ [SIGPIC]
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10-14-2011, 11:57 AM	#9
aman27 Lieutenant 72 Rep 429 Posts Drives: 2016 F15 x35i MSport Join Date: Aug 2010 Location: Long Island, NY iTrader: (0)	I am selling my 535i CPO with low miles 31k for $33k . Fully loaded HUD, Sport, Nav, and more .. Im in NY
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10-21-2011, 08:44 PM	#10
fishingfish Registered 0 Rep 1 Posts Drives: E60 535 BLK Join Date: Oct 2011 Location: Diamond Bar CA iTrader: (0)	Totally Agree!!! better off buy a CPO one!! should not be too much different on pricing~~
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01-31-2012, 11:52 PM	#11
mleedom Enlisted Member 4 Rep 35 Posts Drives: 2008 550i M-Sport Join Date: Nov 2011 Location: San Diego iTrader: (0)	Don't do it trust me!!! I bought an 08 550i CPO and a month later shit went horribly wrong: new transmission, new computer, new vacuum pump, new navigation system. Thank god for CPO! Keep in mind it only had 21k miles when I bought it.
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02-01-2012, 10:23 AM	#12
djinferno Private First Class 12 Rep 112 Posts Drives: e90 330i Join Date: Aug 2005 Location: Ottawa iTrader: (0)	All these guys telling you not to do it will be the same guys selling in a minute and saying the oposite... So what all these fools are saying is e60's are bad cars used? I just did what you are about to do, I got it checked obviously but checking don't tell you much... Make sure all the parts and accessories are there because replacing them can be pricey, case and point, the covers for the hooks in the back seat are 40$ each, theres 4... Make sure the cars interior is in good condition, seats, dash, trim, iDrive etc... Make sure you get all the options you want in the car because after market stuff in these cars are hit and miss... I added iPod integration from BMW after buying it The important thing here is to remember that these cars (well cars in general now a days) have allot of electronics so there theoredicly allot that can go wrong so a good third party warranty was a must to me for piece of mind... Thats what I did... hope this helps...
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02-02-2012, 02:10 AM	#13
mleedom Enlisted Member 4 Rep 35 Posts Drives: 2008 550i M-Sport Join Date: Nov 2011 Location: San Diego iTrader: (0)	@djinferno That's not at all what we are saying about these cars. What we are saying is that things go wrong and when they do it's expensive with a BMW. I inspected almost every part of my CPO 550 before I bought it, did I anticipate getting a new transmission because of fluke issue of course not. A few thousands dollars goes a long way for a piece of mind. P.S since my original post I woke up to an oil leak from the vacuum pump. Called the dealership and they fixed it the same day. All I'm saying is unexpected things happen with all cars and if you can cover yourself upfront with a few extra bucks, you should do it.
	Appreciate 0 Quote

02-05-2012, 05:23 PM	#16
djinferno Private First Class 12 Rep 112 Posts Drives: e90 330i Join Date: Aug 2005 Location: Ottawa iTrader: (0)	peoples choice is what i got, in canada
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02-07-2012, 10:25 AM	#17
bimmer_335 Major 177 Rep 1,123 Posts Drives: 540 mSport Join Date: Jul 2009 Location: In the middle of nowhere, TX iTrader: (1)	in general, how is E60 when it comes to reliability? I'm looking for a used one as a second car. I know these are used bimmers... repairs are expensive and all. I currently have 335 coupe but its been very reliable. No major issues. I'd think 550 should be even more reliable not less given that it dont have HPFP.
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