Teach me how to negotiate...

[OneMmmm]

I'm extremely close to purchasing an '11 E92.

It's got just under 17k miles, ZCP, tech, premium, and Dinan exhaust.

Seller is asking $55,000.00 What's a fair price and how to I get there?

Can't wait until I can post a picture of my NA V8!!! Any help to get me there is greatly appreciated!

[3M TAPE]

a/s/l?

[OneMmmm]

Originally Posted by Mr Gunfun

a/s/l?

Got excited about a response... Then had flashbacks to 8th grade... Now I'm creeped...

[Mr. ///M3 RD]

Originally Posted by OneMmmm

I'm extremely close to purchasing an '11 E92.

It's got just under 17k miles, ZCP, tech, premium, and Dinan exhaust.

Seller is asking $55,000.00 What's a fair price and how to I get there?

Can't wait until I can post a picture of my NA V8!!! Any help to get me there is greatly appreciated!

I assume this is a private sale.

1) First of have the car inspected at BMW and review all the past inspection reports. Any major parts replacements might mean the car has seen track time.

2) Based up on the findings of item 1 above you can then make a decision to purchase the car or not. Any repairs should be done first or dollars to have them done taken off the asking price.

3) Make sure none of the mods made on the car affect remaining warrenty.

The asking price for this low mileage car seams fair, however, I would still offer $52k at the outset if the seller does not accept that then I would walk away. If he accepts it then make item 1 a condition and negotiate a final price based on the results of item 1. Pay for the BMW inspection unless the seller does.

Naturally you need to look over the car yourself and anything questionable is part of negotiating a final price.

There are plenty of guidelines on the Internet ... Do some searching.

Good luck

[OneMmmm]

Originally Posted by Mr. ///M3 RD

I assume this is a private sale.

1) First of have the car inspected at BMW and review all the past inspection reports. Any major parts replacements might mean the car has seen track time.

2) Based up on the findings of item 1 above you can then make a decision to purchase the car or not. Any repairs should be done first or dollars to have them done taken off the asking price.

3) Make sure none of the mods made on the car affect remaining warrenty.

The asking price for this low mileage car seams fair, however, I would still offer $52k at the outset if the seller does not accept that then I would walk away. If he accepts it then make item 1 a condition and negotiate a final price based on the results of item 1. Pay for the BMW inspection unless the seller does.

Naturally you need to look over the car yourself and anything questionable is part of negotiating a final price.

There are plenty of guidelines on the Internet ... Do some searching.

Good luck

Awesome feedback. Thanks for the help.

I'll keep updates on this thread over the next 10 days... Deal should be done by then if all checks out and the seller will negotiate.

Cheers!

[Sandye90m3]

If there is two things I have ever learned from my dad when purchasing something, (which I use all the time),

1. Give 0 f*cks about whatever you are buying and act like it has 0 value to you
2. Don't be afraid to walk away, and don't be afraid to show that
3. Don't buy other people's bs

[dreamspeed]

I'm thinking closer to 50k or maybe even lower since its private sale. I got a 2010 18k miles last year for 47k sale price and that's from a dealer.

The key really is to know the value of the car and being able to walk away if necessary

[FVM3]

throw an offer, i would say 50k

[CPB]

Originally Posted by Sandye90m3

If there is two things I have ever learned from my dad when purchasing something, (which I use all the time),

1. Give 0 f*cks about whatever you are buying and act like it has 0 value to you
2. Don't be afraid to walk away, and don't be afraid to show that
3. Don't buy other people's bs

2 things?

[OneMmmm]

Thanks for all the input. It seems like people are much more helpful here than over @ the F30 forum... One more reason to get the M3!

I'm going to offer $50k and see if he budges.

Also -- this car is about 150 miles from where I live, and the nearest BMW dealer is about an hour and a half away from the seller. Is it unreasonable to expect the seller to make the drive for a PPI?

[Schom]

Watch the show pawn stars on history channel. Some excellent fundamentals on negotiating by watching those fellas. Notice they always ask the person first what they want before ever throwing out a number ...or they counter with concerns they have about the item. Many other little details too.

[mikefromMA]

OP, if he hesitates when made the 50k offer, even the slightest bit, move up in small increments, leveraging the BMW inspection as a "must have." You'll spend a few more bucks, possibly, but you'll have peace of mind. There are times where a $1000 bill of good health is priceless.

[mjposner]

My take. yes a PPI is great and if it can be arranged without issue, no reason not to do this. However, assuming you have a moderate sense of cars and eyes, I would not worry as much if (i) you get the service history; (ii) carfax is clean; (iii) all body pane;s sport matching vin tags, everything works as it should, drives and brakes straight and true, no odd wear on the tires, no warnings on the dash. The reason I say this is because this car is under warranty. Assuming no excessive warranty claims, no obvious abuse and a good service history, you are probably okay if the ppi is not in the cards.

[NYBulldog]

Get the car checked out by a good shop, dealer if possible. CarFax is full of crap. I mean its a good base to have but I know this myself from my own car. I had an accident in my E46 M3 years ago and when I was ready to sell about a year later my CarFax was squeaky clean. I disclosed the damage and had receipts for everything but not everyone will. Google Tips to Purchasing a Car so you yourself can look for any defects. If he is asking 55 he will split the difference between you at 52.5. But you have to stay firm at 50. At 55 it peaked your curiousity so I'm assuming you don't think the price is far off from what you want to pay. If you want to pay 50 and want to talk turkey just be honest and straightforward and say that's what you want to pay. Don't be afraid to not buy it. There are a lot of M3s out there but it comes down to options and colors that you are looking for. If you aren't partial to a very specific optioned M3 your seach will go better.

[chris s]

That price is a good bit too high if it's a private sale... I saw 11's with lower miles at dealers, going for less.

Show him comparable listings for less... explain your offer. Agree to a price BEFORE you pay for an inspection. If anything comes up during inspection, you can use that to lower the price further.

$51 would seem like a reasonable offer.

[chris s]

Also BMW may charge a lot for a PPI depending on where you are... find a GOOD reputable shop that specializes in BMW and go there. Make sure they're checking for mechanical issues and paint work.

[OneMmmm]

Originally Posted by chris s

That price is a good bit too high if it's a private sale... I saw 11's with lower miles at dealers, going for less.

Show him comparable listings for less... explain your offer. Agree to a price BEFORE you pay for an inspection. If anything comes up during inspection, you can use that to lower the price further.

$51 would seem like a reasonable offer.

Thanks, Chris. Where are you guys finding these @ dealers? I've searched high and low in a 500 mile radius. The best price I've seen is 49 for one with 34k miles @ a carmax.

[davesaddiction]

For the last three cars I've bought (both from dealers, two new, one used), I've done all my negotiations over email and had an agreed-on price (that I could print out and take with me) before ever going to the place to talk about finalizing the deal.

[chris s]

Originally Posted by davesaddiction

For the last three cars I've bought (both from dealers, two new, one used), I've done all my negotiations over email and had an agreed-on price (that I could print out and take with me) before ever going to the place to talk about finalizing the deal.

that works sometimes, but a lot of dealers will negotiate more in person. Once you're there, they want to close the deal. Once you walk away (and you MUST be willing to), odds are they're not getting you back in to make the deal.

[chris s]

Originally Posted by OneMmmm

Thanks, Chris. Where are you guys finding these @ dealers? I've searched high and low in a 500 mile radius. The best price I've seen is 49 for one with 34k miles @ a carmax.

where do you live?

i'm in New York...but i also searched nationwide. I had my car shipped from cali.

[OneMmmm]

Originally Posted by chris s

where do you live?

i'm in New York...but i also searched nationwide. I had my car shipped from cali.

Thanks Chris. I'm in Dallas.

I just did a nationwide search on Autotrader for '11 w/ less than 30k miles. Found a few around 52, but they either have higher mileage or limited options (no ZCP, no nav, and some no leather).

I don't want to pay more than the car is worth, but it seems like $52k wouldn't be an unfair price for the seller or me. And while it shouldn't increase the resale price, I do like the fact that it has a dinan exhaust installed

[cpsquare8]

Does the seller have a loan outstanding on the car? While you believe you are negotiating the total price it may be more of what they need to get out of the deal they have. Many sell these cars as the payments eat them alive. They could be motivated by the date of the next payment. If the car is owned outright or only has a small payment the seller may be very resistant to lower the price - how long has it been up for sale. The longer the more willing to deal. And the most important question to ask - WHY IS IT BEING SOLD? That response has always provide some negotiating leverage. Simply - "maybe I can help you solve that problem...but the price needs to be realistic."