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The growth in used car marketplace has been
accelerating each year as American’s appetite for
leasing new cars outstrips historical trends of
purchasing cars with four and five year car loans.
The move towards leasing creates a predictable cycle
of used cars hitting the market. Most leased cars
are returned to the dealer within 24 and 36 months
from the origination date of the lease.
The leasing
phenomena has changed the dynamics of the used car
marketplace by injecting quality pre-owned cars that
often have low mileage and excellent service
records. Many readers may remember the days when a
used car lot looked like a collection of “misfit
toys” from the popular animated cartoon movie.
Today, a used car dealer strives to find quality low
mileage cars with no history of accidents, abuse or
stress to the car.
BMW CPO Program
The certified pre-owned (CPO) BMW program is an
example of taking the used car buyer seriously. BMW
created a certification checklist that all used cars
must pass in order to be qualified as a CPO car. If
a BMW is still covered by the original warranty and
passes the CPO checklist, BMW adds a two year
/50,000 mile additional warranty to the original
warranty. As I learned about this program, I was
amazed to see resulting BMW used car warranty you
can get from a BMW dealer.
BMW Used Car Warranty
For example, if you purchased a certified used 2006
BMW 525i with 23,000 miles from an Authorized BMW
dealer; there would be approximately 3 years left on
the original warranty. The three years is based on
the balance of the BMW new car warranty; four years
or 50,000 miles.
If you purchase the used BMW 525i from an authorized
BMW dealer and they sold the car in the CPO program,
you would receive following mileage warranty:
Original Mileage Warranty Remaining:
(50,000 –
23,000) = 27,000 miles
Additional Mileage Warranty:
50,000
Total BMW Used Car Mileage Warranty: 77,000
You can drive the car 77,000 miles and still be
under the BMW warranty program. If you don’t drive
many long distances, you would also have a five year
warranty on the car (3 years from balance of
original new car warranty + 2 years from CPO
certification) so you can rest assured that your
used BMW vehicle will deliver many years of driving
pleasure.
BMW Used Car Advantage
When buying a BMW used car or any used car, research
the warranty programs from each manufacturer. With
an ample supply of quality pre-owned BMW cars on the
marketplace, it pays to buy the car from an
authorized BMW used car dealer. Sellers on popular
auction sites may have a slightly better purchase
price, but what is the cost of downtime, repairs and
service that an additional 50,000 miles could bring
to your BMW used car?
In the end, buying a quality BMW used car from a
dealer like Circle BMW, in Eatontown, NJ, that can
stand behind the car and enhance the car with an
additional warranty makes the most sense in the long
run.
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