02-07-2017, 03:12 AM | #23 |
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CPO boat, the car still has low kms, and I'm seeing the same car, w/ the same package for more than what I paid a little over one year ago. I got a great deal, the first guy took the hit hard, though.
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02-07-2017, 07:42 AM | #24 | |
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Before I go, based on web trade in estimates, CarMax and what they are going for locally I will have to come up with the lowest number I am willing to go to and the fair number I want. In TX we only pay sales tax on the difference between the trade and the cost of the car so I will have to take that into account as well. I will probably start off with my fair number +$1000 and see where it goes. The reason for getting financing approval for full price is in case I decide to take the CarMax option and just take the car without trade which I do not want to do, just keeping that as a remote option. One thing that may work in my favor is that the car I ordered is pretty much fully loaded. MSRP is $55,080 which would be the high end maybe most won't be interested in. The car is more expensive because it's an x-drive and this is Dallas again maybe most buyers wont be interested. I ordered the white leather which again most probably won't be interested in as I have rarely seen that interior color on M240s or M235s. I think the dealer would be motivated to move that car as it might sit for a while otherwise. I could be totally wrong. If you look at M240i x-drives on Autotrader nationwide there are about 80 of them out there and most are the same ones I have been looking at for the last 2 months. I have not seen one in TX since I started watching in October. In the end all I want is a fair number on my trade, I'm not trying to rob the bank here. I will definitely report back in the next 3-4 weeks when it's hopefully all over. I am open to suggestions on my so called strategy if anyone wants to fire away. |
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02-07-2017, 10:38 AM | #25 | ||
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02-07-2017, 10:47 AM | #26 | |
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02-07-2017, 11:07 AM | #27 | ||
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02-07-2017, 03:41 PM | #28 | |
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02-07-2017, 05:34 PM | #29 | |
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As for the wild-trade-in-value discussion: I think some of us are not considering all of the factors regarding the OP's car. The two biggest: - It's an MT. Think about it: 3 percent of new cars sold in the U.S. last year were MTs. Three percent. That makes the potential market very, very small, particularly in New England where the OP lives. Which brings me to my other point: - Location. The poster who got the $34K offer on his 2015 is in Vista, California. Cars such as the 2 Series sell far better there than in the Northeast. wjones14 : I'd also say that your car not being an X-Drive is a disadvantage in your neck of the woods. Also, the mods you've done may negatively affect the value in the eyes of some. But those effects are nowhere near as great as the effects of the other two, IMHO.
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02-10-2017, 10:54 AM | #30 |
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Still trying to sell my 2015 M235i on Ebay and elsewhere. I bought a "stripper" meaning no sunroof and no options. Thank God I wanted to try the automatic transmission (had never had one before) or I would have zero chance of selling the car. My feeling is that people today don't want sports cars from BMW, they want luxury cars with a sporting heritage. The car only has 4,700 miles and is mint and the best offer I've had is $30,000, which was from CarMax. Reducing the price again today to $35,000 and we'll see if we get any bites.
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02-10-2017, 11:04 AM | #31 |
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I don't know about that honestly. For the more enthusiast crowd rowing your own gears in this kind of car seems like a must. The few m2xx I have seen used / CPO with manual transmissions seem to go quickly.
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02-10-2017, 11:20 AM | #32 | |
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I like to think that the MT would be desirable for the right person. It's hard to find one on the lot. My '05 Mustang GT was a manual, and the guy who bought it lives in upstate NY and drove 4 hours for the privilege. Less than 5% of 2005 Mustangs were yellow, and when you narrowed it down to the Premium Package GT plus 5-speed, less than 1% fell into this category. It was a rare find for the guy who bought it, hence his willingness to make the long drive (twice).
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02-10-2017, 02:45 PM | #33 | |
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Do you have it listed anywhere else besides eBay? I haven't seen it on Autotrader and I'm sure there are a lot of people who don't look on eBay for cars. |
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02-11-2017, 09:30 AM | #34 |
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I have never bought a used car in the US... who pays for the sales tax? Isn't usually the buyer?
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02-11-2017, 10:41 AM | #35 | |
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02-11-2017, 11:12 AM | #36 | |
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It is also winter up there, not sure many people are out shopping for rwd manual cars. |
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02-11-2017, 12:55 PM | #37 | |
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In my case I don't see it making a big difference. If I were to trade in my car, I would lose more with the trade in value than the gain of the tax credit. |
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02-11-2017, 03:11 PM | #38 | ||
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Said another way say dealer is offering you like $1k less than private party on trade. You actually may be better off doing that if trade is $20k and you avoid $1500 in taxes.
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02-12-2017, 10:13 AM | #39 |
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Fellow 2 series I6 lovers - I've test driven 14 performance vehicles recently - and I have fallen in love with the M235/240x.
Unfortunately - as an aspiring used M235x (cash) buyer - I have the opposite problem. The market is very thin. I'm in Boston and there is 1 car within 100 miles and 5 within 500 miles. Prices are all over the map - with sellers often having unrealistic expectations and taking a while to adjust. For e.g. the 2 cars nearest me: the 2016 (5K miles) wants 49K and the 2015 (25K miles) wants 45K. I've seen cars further away sell for much less - so I know those prices aren't right - but how do I convince the seller? I'm afraid until more cars come in the market and stable prices emerge - this problem is going to stay with us. Last edited by v4257; 02-12-2017 at 10:26 AM.. |
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02-12-2017, 10:21 AM | #40 |
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as a Porsche dealer, I see BMWs come in on trade all the time. People trying to get out of leases early and think they have equity or it being a straight wash - not realistic.
BMW FS inflates the residual and sub-vents the money factor to create amazing lease prices - a 130k bmw m6 leasing out at 1300 vs. a 911 base that is 100k leasing out for 1200 (where is that 30k difference). lease BMW. you will always be upside down on BMW unless it is something extremely special (z3m, 1m, etc.). BMW incentivizes leases so people can get into new cars and have "SALES LEADING #s". regarding your trade, if you use KBB, do not put "good or excellent condition" - fair condition is closest to Galves. another problem with BMW is that they make too many of these cars. trade in values are dependent on "30 day market supply". This means that there are x amount of cars, and in 30 days, a store could sell 1 daily, and the difference would be surplus. For example, a 240i could have a 30 day market supply of 45 cars. this means that a store could sell one every day for 30 days, and there would be 15 cars left over (surplus). This is inflation. More supply than demand. This equates to lower value, lower margin, and a lower trade in. As an FYI, I got a 2012 128i CPO. I paid 26k for the car in May of 2015. Today, that car is worth $11-13k. The options or conditions are not important as much as the CarFax, the 30 day supply, and fair market value for the car.
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02-12-2017, 10:37 AM | #41 |
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02-12-2017, 10:53 AM | #42 | ||
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If true, this pretty much sums up the title of this thread. BMW sporty coupes no longer hold their value. I paid $26K for my 2005 Mustang GT, new, and 10 years later sold it for $11K. And here, you have a BMW sporty coupe with higher MSRP, only 5 years old, and it's the same value as my 10 year old Mustang.
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02-12-2017, 01:21 PM | #43 | |
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FWIW: I've seen two 2016 models with 1K/5K miles respectively sell for 38K and 39K recently. |
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02-12-2017, 01:58 PM | #44 |
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Comparing a 2012 128 with an M235 depreciation is crazy. Buying a 2012 128 that's obsolete, replaced by a 2 series car had a lot to do with the hit in depreciation. No mention of miles put on the car etc so its a strawman conversation. Taking the cheapest low end car and least desirable car BMW made with no supporting facts is kind of meaningless. Why would a "Porsche Dealer" be trolling this thread? 128's are a dime a dozen just like 320's, very few M235's for resale, manuals are extremely hard to find but still if its 2 years old its lost 30% of its value like every other luxury car on the market. People won't buy a 2 year old BMW when they can get the same monthly payment on a 2017 lease. Your usually underwater until 3 years. The difference now is people are doing 6-7 year purchases when it used to be 4-5 years. I've owned 16 BMW's through leases and purchases, trade ins etc and the "Porsche Dealer" can say what he wants but I have 22 years buying, leasing and trading BMW's (my own) and he is leaving out some pretty important facts.
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