my dealer is smoking rocks

[achenator]

Trying to buy a 08 E90 M3. They offered $2500 off sticker. This sticker had paint and fabric protection, alarm wheel and tire warranty and a bunch of other crap. I laughed in their face. I offered them $1500 over invoice (which I think is very generous), plus $500 for the alarm and floor mats. They balked at that.

They tried to offer me $34000 for my $51k sticker 08 335 coupe. I told them they were crazy. My car has 6k and is flawless. I finally got them up to $37.5
on the trade but I want $38.5 which is my payoff. I offered them $65k for the car with the alarm and floor mats. The normal sticker on the car was $68445 without the alarm and all the other crap added on. I told them I want to buy the car from them but I know some other dealers would jump on that deal. They are the closest dealer to me at 50 miles but I told the guy that he could keep the car and I thought I made a very generous offer with the 09s already coming in.

I hope someone from Peake BMW in new orleans is reading this.

[808MGuy]

Originally Posted by achenator

Trying to buy a 08 E90 M3. They offered $2500 off sticker. This sticker had paint and fabric protection, alarm wheel and tire warranty and a bunch of other crap. I laughed in their face. I offered them $1500 over invoice (which I think is very generous), plus $500 for the alarm and floor mats. They balked at that.

They tried to offer me $34000 for my $51k sticker 08 335 coupe. I told them they were crazy. My car has 6k and is flawless. I finally got them up to $37.5
on the trade but I want $38.5 which is my payoff. I offered them $65k for the car with the alarm and floor mats. The normal sticker on the car was $68445 without the alarm and all the other crap added on. I told them I want to buy the car from them but I know some other dealers would jump on that deal. They are the closest dealer to me at 50 miles but I told the guy that he could keep the car and I thought I made a very generous offer with the 09s already coming in.

I hope someone from Peake BMW in new orleans is reading this.

You really have no leverage on them if you're trying to trade in a car that you're basically upside down on the loan. It's almost unheard of for someone to get the amount owed on a trade in. They typically try to get you to roll the remainder into the loan for the new car. Why don't you try selling your car on your own and then using whatever you get for it as a down for the M. I think you'll have more bargaining leverage that way.

[GnokGnik]

+1 On selling privately...but didn't you have a fuel pump failure?

[achenator]

I don't think i'm upside down on my 335. A similarly equipped 09 335 is gonna be almost $54k. The problem with selling the 335 privately is I would have to get over 41k to make up the tax difference as opposed to trading in. The car stickered for $51k. I dont think i'm out of line asking $38.5 for my car. I'm in La. and there aren't many 335s around. A reputable source told me that my car would bring $40k at manheim. It is not about what I owe but what the car is worth. They can choke on the M as far as I am concerned, there are tons sitting on the lots. The 09's are knocking at the door.

[achenator]

Not just a fuel pump failure, now they are replacing the injectors.

[King Tut]

You can ask whatever you want, but it sounds to me like the dealer isn't smoking any rocks.

[achenator]

Originally Posted by King Tut

You can ask whatever you want, but it sounds to me like the dealer isn't smoking any rocks.

$37.5 on my car and $2500 off a jacked up sticker??? I might consider accepting the offer for my car but they gotta do better on the M. I think $1400 over invoice is fair for an 08. I've only seen 2 new M3's on the road in this area and they have at least 6 or 8 on their lot. With the jacked up sticker they are asking:$68445 car, $695 alarm,$595 wheel warranty, $135 floor mats $295 paint and fabric protection and something like $50 bucks for wheel locks.
Brings the asking price to over $70k. I told them the only thing I want off that list is the alarm. Invoice on the car is around $63100. I offered $65 with the alarm and mats.

How did you do on your 09??

[King Tut]

I got $3500 off MSRP on my 09.

[Seth_Horwitz]

Originally Posted by achenator

I don't think i'm upside down on my 335. A similarly equipped 09 335 is gonna be almost $54k. The problem with selling the 335 privately is I would have to get over 41k to make up the tax difference as opposed to trading in. The car stickered for $51k. I dont think i'm out of line asking $38.5 for my car. I'm in La. and there aren't many 335s around. A reputable source told me that my car would bring $40k at manheim. It is not about what I owe but what the car is worth. They can choke on the M as far as I am concerned, there are tons sitting on the lots. The 09's are knocking at the door.

The Manheim Market Report (MMR) does have that car listed at $40K, but the volume is VERY low. (About 1 car per auction, everywhere except Nevada.) 90% of them are Factory sales. You could probably get that amount at auction, if you have someone to run it for you, but I doubt any dealers will come close on a trade-in. Their revenues from new cars are down, so they are looking to make a buck somewhere, and people are very hesitant to commit any capital without a guaranteed return. (It's no different than on Wall Street where profitable divisions are being closed because they "aren't profitable enough.") Also, don't forget that shipping a car to Manheim costs $200-$500, and there are auctions fees on top of that. I don't know of any dealers willing to do this at auction, but I suppose you could try to have them sell the car for you on consignment. That way they won't have to put the car on their books, and should be willing to take a smaller profit. A bit more insight into the industry, very few new car dealers take cars to an auction, so that's not the best number to use. If a car is traded in to a dealer, they usually push the car out to an independant wholesaler, after taking a cut, who then sells it, or brings it to auction. If the car is a lease return, the dealer gets a specified period to sell it (because they don't own it) and if it's not sold, the factory takes it back and ships it off to auction with a ton of other lease returns. You can usually get deals on those before the factory/financing arm takes it back, because the dealer doesn't own the car, and any profit is "free." (Just like European Delivery on non-M cars.) Good luck.

[Babaganush]

Originally Posted by achenator

I don't think i'm upside down on my 335. A similarly equipped 09 335 is gonna be almost $54k. The problem with selling the 335 privately is I would have to get over 41k to make up the tax difference as opposed to trading in. The car stickered for $51k. I dont think i'm out of line asking $38.5 for my car. I'm in La. and there aren't many 335s around. A reputable source told me that my car would bring $40k at manheim. It is not about what I owe but what the car is worth. They can choke on the M as far as I am concerned, there are tons sitting on the lots. The 09's are knocking at the door.

To save taxes on a private sale, take your buyer to the dealership and have dealer process the paperwork for a fee (usually $500 or less). They treat your buyer as the trade in and pass the tax credit to you. Plus your buyer benefits having all of the paperwork being done by the dealership and takes the risk out of the deal for both of you. I did this on my 05 Cayenne Turbo that I sold privately instead of trade in. Saved over $3K in taxes on my new 09 E92.

[achenator]

I got them to come up to $38 and $3500 off on the M. Wasn't the best deal but I can live with it. The most important thing is I got a new M3!!! I didn't want to deal with selling it privately. It was already in the shop at the dealer, I told them just to keep it. When I dropped it off I never would have thought I would never drive that car again. I won't have time to pick it up until early next week but I'll be around here with lots of questions.

[King Tut]

Sounds like a good deal to me man. Congrats on the purchase. I told you they weren't smoking rocks.