Quote:
Originally Posted by wjones14
Sent my CA a text asking about getting on the wait list for an M2, and getting a ballpark number on a trade for mine. The advice in her reply was that from a dealer perspective, my car is worth between $26,000 and $31,000, and I was probably better off selling it privately.
MSRP with options was $51,295. I got a 6% discount and paid $48,200 in April 2015.
It has 7500 miles, stored winters, never driven in rain, and is in perfect condition. None of that matters really when talking to a dealer about trade in.
At $26K it has retained 55% of its value after less than 2 years. By MSRP, it's 50%.
Part of the decision to go with BMW was that I thought they had good resale value. In comparison, I paid $26K (MSRP) for my 2005 Mustang and sold it privately 10 years later in 2015 for $11K. It kept 42% of its value after 10 years.
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This is normal depreciation. The biggest depreciation % drop is in the first 5 years. After that, it stabilizes.
You’re also comparing apples to oranges by selling your Mustage privately vs a trade in on the BMW. You always get severely F’ED if you trade in.