anyone get recent trade in numbers?

[mikeriley]

Hi all. I was looking to see if anyone has gone to their bmw dealer to get a price on what the car is worth on trade? I know what they are going for used (high 80's seems the sweet spot that sells) but I was at a large dealer this weekend in chicago and they told me the buy back price is around 75K. That sounded low to me.

Anyone care to chime in?

[thebishman]

That's the figure I was quoted a couple of times also. Msrp on my M5 was $99K.
Bish

[Mperial]

I got low-balled too. First quote was 74k and it peaked at 76k by the end of the conversation. Car is worth 84k. Not pleased. No sale for them and no ZCP for me.

[Bmanny]

I have got quoted 80k at the local dealer, I have 3k miles though. Manheim wholesale is around 86k-88k currently base on mileage. I left that dealer right away.

[Mperial]

Originally Posted by Bmanny

I have got quoted 80k at the local dealer, I have 3k miles though. Manheim wholesale is around 86k-88k currently base on mileage. I left that dealer right away.

I didn't have much more mileage than that when I inquired last month. And if it's the same dealership (which I think it is) I'm even more disappointed.

[ColdList]

Originally Posted by Bmanny

Manheim wholesale is around 86k-88k currently base on mileage.

And this is what you should get. I am getting this on mine AND they held the figure for me until Oct. when mine will be delivered. I have 4,800 mi. 2013 F10 M5.

***Remember: FIRST negotiate a sale price on your NEW car and let them think you are selling your current car privately or keeping it. Only AFTER you have negotiated the bottom-line sales price on the new car THEN you throw the trade in to the equation. This way you get true ACV for your trade and there is no jumbling of the numbers.

[Bmanny]

Originally Posted by ColdList

And this is what you should get. I am getting this on mine AND they held the figure for me until Oct. when mine will be delivered. I have 4,800 mi. 2013 F10 M5.

***Remember: FIRST negotiate a sale price on your NEW car and let them think you are selling your current car privately or keeping it. Only AFTER you have negotiated the bottom-line sales price on the new car THEN you throw the trade in to the equation. This way you get true ACV for your trade and there is no jumbling of the numbers.

I think they quoted me 80k , when they seen my dealer payoff was around wholesale price.

[Mperial]

Originally Posted by ColdList

And this is what you should get. I am getting this on mine AND they held the figure for me until Oct. when mine will be delivered. I have 4,800 mi. 2013 F10 M5.

***Remember: FIRST negotiate a sale price on your NEW car and let them think you are selling your current car privately or keeping it. Only AFTER you have negotiated the bottom-line sales price on the new car THEN you throw the trade in to the equation. This way you get true ACV for your trade and there is no jumbling of the numbers.

Exactly. I did this, Mike. That was their final offer...
They're not the only game in town but I do have excellent service contacts there.

[stealth.pilot]

Originally Posted by mikeriley

Hi all. I was looking to see if anyone has gone to their bmw dealer to get a price on what the car is worth on trade? I know what they are going for used (high 80's seems the sweet spot that sells) but I was at a large dealer this weekend in chicago and they told me the buy back price is around 75K. That sounded low to me.

Anyone care to chime in?

If you have no options and a $90k MSRP than 75k is right.

BTW in my opinion never trade-in your car. These guys make a $10k mark up on used M5s.

Honestly I'd rather burn my M5 than get raped on trade-in.

Any half competent person can sell their car on autotrader. I've sold lots of cars that way. Last year on my 550i I beat dealer trade-in by $15k by selling privately and I had multiple offers including one above asking price.

[RPiM5]

Originally Posted by stealth.pilot

BTW in my opinion never trade-in your car. These guys make a $10k mark up on used M5s.

Honestly I'd rather burn my M5 than get raped on trade-in.

Any half competent person can sell their car on autotrader. I've sold lots of cars that way. Last year on my 550i I beat dealer trade-in by $15k by selling privately and I had multiple offers including one above asking price.

^^^ This.

I feel the same way Stealth.

[ColdList]

Originally Posted by stealth.pilot

If you have no options and a $90k MSRP than 75k is right.

BTW in my opinion never trade-in your car. These guys make a $10k mark up on used M5s.

Honestly I'd rather burn my M5 than get raped on trade-in.

Any half competent person can sell their car on autotrader. I've sold lots of cars that way. Last year on my 550i I beat dealer trade-in by $15k by selling privately and I had multiple offers including one above asking price.

Well, depends on your deal. With the cash I am getting of mine, factoring in the tax savings on the M6, I end up with the equivalent of approx. $94K net figure. On a car that I paid $105k for $11k is more than an acceptable expectation of depreciated loss. Every deal stands on its own.

[stealth.pilot]

Originally Posted by ColdList

Well, depends on your deal. With the cash I am getting of mine, factoring in the tax savings on the M6, I end up with the equivalent of approx. $94K net figure. On a car that I paid $105k for $11k is more than an acceptable expectation of depreciated loss. Every deal stands on its own.

I don't pay sales tax because my car is Montana titled.

That said I wonder if your high trade in values are partly a function of the price you pay for the new one? I.e. Dealer is looking at total margin. Would dealer give you the same trade if you were buying at invoice?

[ColdList]

Originally Posted by stealth.pilot

I don't pay sales tax because my car is Montana titled.

That said I wonder if your high trade in values are partly a function of the price you pay for the new one? I.e. Dealer is looking at total margin. Would dealer give you the same trade if you were buying at invoice?

I am buying at $184 over invoice. I know the entire mgmt staff well and I used to be in the business. I know the game very well.

[ColdList]

So look at the going prices:

http://www.cargurus.com/Cars/l-Used-2013-BMW-M5-c23342

Even without your Montana tax savings, I am still ahead of the game. Now add the convenience of the trade process. Win all around.

Not going to fool myself into thinking anyone will pay me MORE than $93-$94 for my car. If they paid the SAME price, I would sooner trade to avoid potential fraud and hassles.

As I said-every deal stands on its own. I know this game backwards and forwards and I play it well.

[ColdList]

Originally Posted by ColdList

And this is what you should get. I am getting this on mine AND they held the figure for me until Oct. when mine will be delivered. I have 4,800 mi. 2013 F10 M5.

***Remember: FIRST negotiate a sale price on your NEW car and let them think you are selling your current car privately or keeping it. Only AFTER you have negotiated the bottom-line sales price on the new car THEN you throw the trade in to the equation. This way you get true ACV for your trade and there is no jumbling of the numbers.

This is MY post above. You can see that I negotiate very strategically. And just for fun, the UCM and I made a silly little "side bet" on " a "Rock/Paper/Scissors" game that I knew I would win for an extra $1K on mine-lol!

[Northern X5M]

My dealer finally offered me 99K for my car. MSRP was 122k. Originally they were firm at 92K, but some of the value is coming from the new car. Car is now 1 year old and has 6200km on the clock. I know this is a bad deal but I wants new CP M5... first world problems.

Dealer at first would not budge on 2014 MSRP, there is currently a 13k discount on new 2013's.

[ColdList]

Originally Posted by Northern X5M

My dealer finally offered me 99K for my car. MSRP was 122k. Originally they were firm at 92K, but some of the value is coming from the new car. Car is now 1 year old and has 6200km on the clock. I know this is a bad deal but I wants new CP M5... first world problems.

Dealer at first would not budge on 2014 MSRP, there is currently a 13k discount on new 2013's.

This is Canadian pricing right? Is it higher than US? Regardless, gotta do it like I outlined above. Lots of car sales people make a great living saying "what do you want for your trade" and then inflating the numbers to show you more while they rip your head off on your new car. IT is not magic that one can pay you $10k more than the other int he same town. No super salesperson who can pull off unsupported numbers.

[Northern X5M]

Originally Posted by ColdList

This is Canadian pricing right? Is it higher than US? Regardless, gotta do it like I outlined above. Lots of car sales people make a great living saying "what do you want for your trade" and then inflating the numbers to show you more while they rip your head off on your new car. IT is not magic that one can pay you $10k more than the other int he same town. No super salesperson who can pull off unsupported numbers.

Yeah Canadian pricing. I think base is about 10k higher on Canadian cars, plus my full individual interior was about 4k more than US. I went in high asking 105k. I was hoping for a one year depreciation of about 15k +/-. I could live with that.

[ColdList]

Originally Posted by Northern X5M

Yeah Canadian pricing. I think base is about 10k higher on Canadian cars, plus my full individual interior was about 4k more than US. I went in high asking 105k. I was hoping for a one year depreciation of about 15k +/-. I could live with that.

Figured that was likely the case. Looks like you did pretty well. I think $15 depreciation is reasonable for a car with 3,800 miles as well

[stealth.pilot]

Originally Posted by ColdList

So look at the going prices:

http://www.cargurus.com/Cars/l-Used-2013-BMW-M5-c23342

Even without your Montana tax savings, I am still ahead of the game. Now add the convenience of the trade process. Win all around.

Not going to fool myself into thinking anyone will pay me MORE than $93-$94 for my car. If they paid the SAME price, I would sooner trade to avoid potential fraud and hassles.

As I said-every deal stands on its own. I know this game backwards and forwards and I play it well.

You did very well. But like I posted above most dealers pay about $10-15k below Private retail. So your case does not sound typical.

My 550i example is a good one, trade in was $55k, I listed it for $68k and in the end I sold it for $70k and one guy tried to offer me $71k after I had shaked hands with the first buyer. Obviously I didn't take the 71 because I keep my word.

On Individual cars you do have a bit more leverage in private sale.

[ufgtrs2007]

How do you guys protect yourself when selling such an expensive car on autotrader?

I'm thinking about selling myself, but I'm a little worried dealing with people who may have other agendas.

[mikeriley]

very interesting open and honest discussion. The manheim prices are over inflated because a lot of the buyers are sending the cars overseas. Seems the private bmw dealers are interested in buying trade ins in the mid to high 70's right now and listing in the high 80's low 90's.

the dealers seem to have the upper hand for a few reasons, convenience esp for those that don't want to take the chance of getting scammed with private sales, and for tax savings using the trade in against new purchase price. (stealth you are very impressive beating the system!)

The dealer I dealt with today was classic, it was a non bmw dealer looking to get 94 for their car, said that he already had guarantee offers from a local bmw dealer to buy the car for 90. I found that hard to believe since if the dealers were really that willing to buy used m5s they would not low ball trade ins and offer high 80s or 90 especially if they are going to turn around and sell a new 2014 in the process.