Can I get $43k for my car?

[Damage Inc]

I'm considering putting my car up for sale. Its an 08 sedan, manual, Jerez / Fox Red, with every option available in 2008. 28k miles. Its in perfect condition. Garaged at home and at the office. Leather is cleaned regularly.

What is a good price private party? I see there are only 44 sedans on autotrader, with the cheapest at $40k however mine is cleaner and with more options.

Thanks.

[S65V8]

maybe, it won't be a competitive price. IMO. Many dealers will meet or beat that price - some with CPO included.

[luis_m3]

Personally, I wouldn't pay that much for an 08... main reason being the warranty. I'm sure one CPO can be found for that price (or lower).

[swartzentruber]

Originally Posted by luis_m3

Personally, I wouldn't pay that much for an 08... main reason being the warranty. I'm sure one CPO can be found for that price (or lower).

Any of you guys try the BMW USA CPO search before making that statement? Just for kicks, I did. There's like 2 nationwide at that price, but neither look fully loaded (option wise), and both have more miles. Most of the rest are around $47K. Unless they drive far and/or settled for very limited choice, it doesn't appear most people can get a CPO for $43K. Also, given some of the crap we've seen on these boards about CPO cars, some people might be willing to take a chance on a well maintained private car, than a CPO that has been checked over who knows how carefully, though of course you still get the CPO warranty which is good.

Bottom line, for a private sale, $43K may be a bit high, but not unreasonable. I'd say it may depend on your in-service date, as to whether you have any of the 4yr warranty left, as most buyers would probably like a little warranty in case you've missed something going wrong. I bought a 3ish yr old 330cic a few years back, and I was very happy for the ~6months of warranty left, as I ended up getting like $4k in warranty repairs before it expired. You might try Carmax if you have one nearby -- they seem to really like BMWs, ours offered $4k more than my dealer when I was trading in my 335xi on my M3 this year, which was close to a decent private party price.

[mdosu]

$43k is reasonable, i think it's pretty mid-market pricing. I think you can ask up to around $44k depending on location and how badly the buyer wants it.

this thread shows what buyers are paying to the dealers.

http://www.m3post.com/forums/showthr...366319&page=33

[NjPrince]

You can try maybe 41-42k at max id say though

[persian54]

list at 45, settle for 41 min I think is fair

[chungdae]

Too many factors. You'll have to find the right buyer.

[Damage Inc]

Ok, good feedback. The local dealer offered $40k on an M5 trade which I was suprised at. If I can get more than $40k I will probably sell, since my warranty is up in May.

[mjposner]

In my state 40k is like $42,400 due to sales tax credit on trade in.

[persian54]

Originally Posted by MojorisinM3

Ok, good feedback. The local dealer offered $40k on an M5 trade which I was suprised at. If I can get more than $40k I will probably sell, since my warranty is up in May.

have them mark down another 2k from the M5 and seal the deal

[Endless619]

Originally Posted by swartzentruber

Any of you guys try the BMW USA CPO search before making that statement? Just for kicks, I did. There's like 2 nationwide at that price, but neither look fully loaded (option wise), and both have more miles. Most of the rest are around $47K. Unless they drive far and/or settled for very limited choice, it doesn't appear most people can get a CPO for $43K. Also, given some of the crap we've seen on these boards about CPO cars, some people might be willing to take a chance on a well maintained private car, than a CPO that has been checked over who knows how carefully, though of course you still get the CPO warranty which is good.

Bottom line, for a private sale, $43K may be a bit high, but not unreasonable. I'd say it may depend on your in-service date, as to whether you have any of the 4yr warranty left, as most buyers would probably like a little warranty in case you've missed something going wrong. I bought a 3ish yr old 330cic a few years back, and I was very happy for the ~6months of warranty left, as I ended up getting like $4k in warranty repairs before it expired. You might try Carmax if you have one nearby -- they seem to really like BMWs, ours offered $4k more than my dealer when I was trading in my 335xi on my M3 this year, which was close to a decent private party price.

I have been saying this for days. For a private party $43k is pretty cheap. A CPO from the dealer will run a minimum of $45k-$55k.
Thats reality and fair IMO. Mine fell into that group so I am contempt.

[luis_m3]

Originally Posted by swartzentruber

Any of you guys try the BMW USA CPO search before making that statement? Just for kicks, I did. There's like 2 nationwide at that price, but neither look fully loaded (option wise), and both have more miles. Most of the rest are around $47K. Unless they drive far and/or settled for very limited choice, it doesn't appear most people can get a CPO for $43K. Also, given some of the crap we've seen on these boards about CPO cars, some people might be willing to take a chance on a well maintained private car, than a CPO that has been checked over who knows how carefully, though of course you still get the CPO warranty which is good.

Bottom line, for a private sale, $43K may be a bit high, but not unreasonable. I'd say it may depend on your in-service date, as to whether you have any of the 4yr warranty left, as most buyers would probably like a little warranty in case you've missed something going wrong. I bought a 3ish yr old 330cic a few years back, and I was very happy for the ~6months of warranty left, as I ended up getting like $4k in warranty repairs before it expired. You might try Carmax if you have one nearby -- they seem to really like BMWs, ours offered $4k more than my dealer when I was trading in my 335xi on my M3 this year, which was close to a decent private party price.

1) You're only looking at what is available right now, most people take some time before purchasing a used vehicle,
2) there is such thing as negotiating a deal, and
3) If I were to pay 43k for an 08, I would just invest 2k more and get a CPO, even if it has more miles. Again, IMO, warranty is huge factor when spending this much money, and knowing that repairing a M3 can be devastating to anyone's wallet.
In the end, there are many variables at hand when purchasing a used vehicle. "Fully loaded" just doesn't do it for me either, I would have to see the entire condition of the car first.
Simply put, the OP asked if it was too much, and I said yes. Maybe 40k sounds more reasonable.

[Endless619]

Originally Posted by mjposner

In my state 40k is like $42,400 due to sales tax credit on trade in.

It is nice to be in a state where there is no sales tax. What you see is what you pay. Thats how it should be everywhere. Unlike California, whats it like 10% now? Pathetic.

[swartzentruber]

Originally Posted by luis_m3

1) You're only looking at what is available right now, most people take some time before purchasing a used vehicle,
2) there is such thing as negotiating a deal, and
3) If I were to pay 43k for an 08, I would just invest 2k more and get a CPO, even if it has more miles. Again, IMO, warranty is huge factor when spending this much money, and knowing that repairing a M3 can be devastating to anyone's wallet.
In the end, there are many variables at hand when purchasing a used vehicle. "Fully loaded" just doesn't do it for me either, I would have to see the entire condition of the car first.
Simply put, the OP asked if it was too much, and I said yes. Maybe 40k sounds more reasonable.

I realized after looking at the "what are people paying for used M3s" thread that there are some people getting CPO 2008s for close to 43K, so it appears that's not the full inventory of CPOs, and maybe some dealers are dealing more than it appears. Decent points, but here are counterpoints:
1) True, but he asked what his car was worth now, not in 6 months. Of course, almost all cars depreciate, so it will likely be worth less in the future than now. The counterpoint is that due to BMW USAs big end-of-year incentives and general M3 unattractiveness in winter in many areas of the country, December might be a low point. Overall, who knows?
2) Of course, but if the going CPO price is $47K (just for instance, it might not be), dealers probably won't be coming down $4K.
3) That's you, but in general a car with more options will fetch more than one with less, all things equal. Also, sure you could pay $2K more for the dealer CPO, or you could buy his low-mileage babied M3 and put the $2K toward a regular extended warranty. Or, if you are a low mileage driver yourself, and know that most parts wear out with mileage, not time (which is true), you could save the $2K vs buying the dealer CPO, and take your chances. I'm not sure I'd consider buying a used M3 (personal preference), but if I did buy one, I think I'd be more inclined to take my chance on a well maintained non-CPO version, where I could talk to the owner, vs taking my chances with a dealer CPO version whose previous owner might have beat the s*it out of it.

[Titanium Silver]

Originally Posted by MojorisinM3

I'm considering putting my car up for sale. Its an 08 sedan, manual, Jerez / Fox Red, with every option available in 2008. 28k miles. Its in perfect condition. Garaged at home and at the office. Leather is cleaned regularly.

What is a good price private party? I see there are only 44 sedans on autotrader, with the cheapest at $40k however mine is cleaner and with more options.

Thanks.

Yes, I bet you can get around $43k for your vehicle. Is it CPO? If so, then definitely yes.