Quote:
Originally Posted by MakeEmDrool
Those #s look like british pounds to me...55000 british pounds= 88000 usd, give or take
He still took a bath on his sale, but just sayin.
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True, but the ratios still apply. He said he bought at 85k and sold at 55k after 8 months. I bought an 84k BMW 550 (actually i paid 75k for it) and sold it at 70k after 12 months. My dealer also offered me 55k on trade.
So clearly he wasn't good at capturing value. The bid-ask spread on these cars is 10k-15k. Dealerships make much more money on used cars than new ones.