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      04-14-2019, 05:11 AM   #1
danielmtzf
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In the market for a 340i, price & financing questions

First post on a Bimmer forum, hope this goes well. So Im thinking about getting my first car hopefully this summer. Ive been looking at 340i's for the last couple of weeks and have been narrowing to the cars that have the options/specs that I want. Most of my end results turn to be 340i's priced between $33-35k depending on the options and all that. I know the final price and financing quotes depend on a number of variants. But, lets just say whatever car I want to get is listed at $35k, Id like to have an idea of how low I could get the car for. My mom will most likely finance it and just put it under my name, her credit score is basically perfect and APR would be very low, if not 0%. I plan on putting a substantial amount of cash on the down payment (to make the deal sweeter for the salesman). One of my co workers used to work for a BMW dealership and weve been talking about me possibly getting one of those B58 340i's and he told me it all depends on the occasion, time, dealership, salesman, etc. I understand that the G20 platform BMWs are already hitting the streets and all those 340i's that are coming back from 3 year lease deals are getting sold by dealerships, so I guess within the next couple of months, some nice spec'd 340i's should hit the CPO market for 2nd hand owners.

I know I will not find an exact answer to my question, but any input/advice is appreciated.
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      04-15-2019, 02:54 AM   #2
xXSupa
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For used, expect an average somewhere between 6-10% off. Depending on how long the cars been on their lot and the demand for the said car's color and combination of packages. For example, a base model red color 340i will likely have more room to negotiate than a fully loaded white color 340i. Also, cash/finance doesn't really make a big difference for the dealer or salesman. Sales will receive the same amount of commission regardless of how much you put down, and the dealer will receive the full dollar amount from BMW Financial Services (or the bank) before giving off the car. If you can get 0% or close to it, then put as less down as you can. Why give your money to someone else when you could be holding on to it. But assuming you are buying CPO from BMW, they usually have set finance rates for the cars, anywhere between 0.9 to 4.9%
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      04-17-2019, 03:09 AM   #3
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Originally Posted by xXSupa View Post
For used, expect an average somewhere between 6-10% off. Depending on how long the cars been on their lot and the demand for the said car's color and combination of packages. For example, a base model red color 340i will likely have more room to negotiate than a fully loaded white color 340i. Also, cash/finance doesn't really make a big difference for the dealer or salesman. Sales will receive the same amount of commission regardless of how much you put down, and the dealer will receive the full dollar amount from BMW Financial Services (or the bank) before giving off the car. If you can get 0% or close to it, then put as less down as you can. Why give your money to someone else when you could be holding on to it. But assuming you are buying CPO from BMW, they usually have set finance rates for the cars, anywhere between 0.9 to 4.9%
I see. Nice spec on your 340 btw. Any advice on what to look for when buying the car? Any advice/input will help.
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      04-17-2019, 04:03 PM   #4
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Quote:
Originally Posted by danielmtzf View Post
I see. Nice spec on your 340 btw. Any advice on what to look for when buying the car? Any advice/input will help.
BMW is quite good when it comes to their 4-year factory warranty with servicing inclusive. It's basically a bumper to bumper warranty that covers everything except tires, brake pads and windshield wipers (I've heard you can get this covered if you play your cards right). For this reason, I would highly suggest you look at 2016 model years since they'd still have about 1 year of warranty left.

Because of the warranty, you can pretty must have a peace of mind when looking for used cars, even if it's a private sale. Just make sure that no major "unusual" repairs have been done and that the car drives properly. Check the brakes to make sure that the rotors aren't warped and and tires to make sure that there's even wear and no punctures. I've purchased 3-4 used BMWs in the past, and a quick test drive with a look at the service records was all it took. Since BMW offers free service for the first 4 years of a new car, you can get all the service records directly by going to any dealership's service department, even if the owner didn't keep copies of them.

One thing that I would recommend though is extended warranty if you are planning to keep the car past the first 4 years. BMWs are notorious for starting to break down after the warranty period expires.

That being said, if you are planning to buy a 2014-15 model year without factory warranty, I would highly suggest getting a BMW trained mechanic to look at the big things known for breaking down, like the water pump, thermostat, turbo, and possibly even the transmission.
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      04-17-2019, 10:50 PM   #5
danielmtzf
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Quote:
Originally Posted by xXSupa View Post
BMW is quite good when it comes to their 4-year factory warranty with servicing inclusive. It's basically a bumper to bumper warranty that covers everything except tires, brake pads and windshield wipers (I've heard you can get this covered if you play your cards right). For this reason, I would highly suggest you look at 2016 model years since they'd still have about 1 year of warranty left.

Because of the warranty, you can pretty must have a peace of mind when looking for used cars, even if it's a private sale. Just make sure that no major "unusual" repairs have been done and that the car drives properly. Check the brakes to make sure that the rotors aren't warped and and tires to make sure that there's even wear and no punctures. I've purchased 3-4 used BMWs in the past, and a quick test drive with a look at the service records was all it took. Since BMW offers free service for the first 4 years of a new car, you can get all the service records directly by going to any dealership's service department, even if the owner didn't keep copies of them.

One thing that I would recommend though is extended warranty if you are planning to keep the car past the first 4 years. BMWs are notorious for starting to break down after the warranty period expires.

That being said, if you are planning to buy a 2014-15 model year without factory warranty, I would highly suggest getting a BMW trained mechanic to look at the big things known for breaking down, like the water pump, thermostat, turbo, and possibly even the transmission.
Interesting... Ive never heard about tires and brakes possibly being included in the warranty. I plan on having this car for 5+ years so yea, Id like to get all the future warranties and all of that just to be safe. But yeah, I wouldnt go for anything 2015 and below.
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      07-18-2019, 04:57 PM   #6
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I know this is fairly old now, but I have a 2017 340i with M Sport (Melbourne Red, black leather seats) that I think I'll be selling in the next few months. If you don't find what you're looking for, let me know. It's currently 34k miles with warranty through 2021.
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