Trade in value

[Wajhik]

KBB has no real merit...they use no real wholesale/manhiem data, its literally just a somewhat educated guess.

Also, alot of dealers dont care about how clean/loaded a car is, they just punch in the VIN and compare what cars the same year are selling for wholesale and give you an average.

Regardless of what people think, dealers arent trying to rip you off (most of the time) especially with high end products. They have to invest what they have to because once they retail the car the world tells the customers that they should get 10 grand off, which is unrealistic.

[Scrappy]

Well my impression was wow this thing hauls ass. It seemed like if I even thought about the gas pedal I was pinned to the seat. The tires spun too easily so I definitely agree it needs wider tires. I wasn't able to really test the handling because of traffic and construction on the route. In traffic it was surprisingly docile and easy to drive. I really liked it and today I am going to test drive a CTSV so we will see.

[CCLSVTM3]

Originally Posted by LarThaL

Did you realistically think you would be offered anything close to private party sale price on a trade? In fact, the whole concept of the "trade-in value" is a joke also. There is no such thing as a "trade-in value". What you will offered on trade is the auction value of the car. This is typically the listed "trade-in value" minus about 10-20%. Interestingly enough, you will never find the auction value of any car readily listed. It is treated like some big insider's secret.

Good info.....

[Scrappy]

Well I just finished driving the CTSV and it didn't feel like it had 556 go the C63 actually felt faster. The seats were also very uncomfortable. I could not imagine taking those seats on a road trip. Overall I was not impressed I will definitely not buy one.

[pillpopper]

I was recently offered 41,5k from a dealership and there is no way. Private party is the way to go. I decided to keep it and buy extended warranty and wait for new m3 if I like it. I have 21,4 miles and fully loaded also.

Dealerships are just trying to make as much money as possible.

[Endless619]

Originally Posted by dmk08

Worked for Manheim for 5 years. They are not going to give you much more on a trade then they can get for it at the auction. Manheim price is what you need.

Average Manheim auction price for that car is ~38,000 right now. The only options they will really care about are does it have navigation.

Yup and you dont even want to hear wholesale prices. I have seen them and they are low 30s right now and soon to be high 20s.

[fuddman]

Originally Posted by Endless619

Yup and you dont even want to hear wholesale prices. I have seen them and they are low 30s right now and soon to be high 20s.

You are going to loose money, big time, if you fall into the trap of believing your car is worth what the dealer would get for it at auction.
That's because the prices set at auction do not reflect the market - even the wholesale market. Instead, auction prices reflect a sales philosophy coming from the corporate headquarters which owns all the dealerships. That philosophy boils down to: turn your inventory over quickly or send it to auction. As you might expect, that rigid approach keeps the auction lots full of cars which, for a host of reasons, haven't been sold and which are, therefore, regarded as losers. Every buyer going to an auction knows that these cars have something wrong with them so is it any wonder that auction prices are so low or artificially suppressed.
The SA offering you the auction price is telling you your car is, in effect, regarded as a potential loser (read: auction candidate) by corporate headquarters (or the owner) and, because of that, that's the best he can offer.
If, however, the SA is on your side, he will follow that up by encouraging you to sell the car yourself. Which, by the way, is pretty easy.

[Mahzari]

Carmax offered me $36,000 for my CPO E90 M3. I sold it privately for $42,000 a month later. Don't listen to a word they (dealerships included) say about being fair, honest, or upfront. They try and screw every customer.

[PhillyNate]

If I ever sell this car, it will be the first I sell privately due to the wide variance between offers. A dealer would have to knock my socks off for them to get it. An enthusiast will more than likely appreciate what this car is and come closest to matching what I believe it's true value to be.

[m3an]

this goes for any car.. Why are people surprised. The conveneince of trading the car in + the fact that the dealer has to then sell the car. Most times they are bringing them to auction anyway so they can't offer any more than wholesale trade in. NADA will help to put a value on the car.

What people tend to forget that if you are trading it in for another car, you are also saving the tax on the difference in pricing of the new car. This can be another 1-2k itself

[py0413]

If you think that's bad, try to trade in a car like m3 in Canada and see what happens. Dealers here markup $15000-$20000 on what they got from a trade. By the way, a full load E92 is almost $90k before tax here and 3 years later it s not even worth $40k when you try to trade for another car.

[IFX]

Originally Posted by Mahzari

Carmax offered me $36,000 for my CPO E90 M3. I sold it privately for $42,000 a month later. Don't listen to a word they (dealerships included) say about being fair, honest, or upfront. They try and screw every customer.

Carmax does wholesale anyway, so I expect them to lowball.
Preach it.....

[e92involved]

Originally Posted by Ghetto2315

More than likely gave you KBB price but basically took it from the gross of your M3. For example, ACV (Actual Car Value) of your X5 is ohhh let's say $40K and KBB has it listed at $43K and your M3 listed at $70K. You want KBB price to make the deal happen. So instead of the dealer selling the M3 at $70K, they are selling the M3 at $67K and using the $3K towards the ACV of $40K as on "over-allowance" to make it look like they gave you KBB price of $43K.

A dealer will only do a deal that is within reason, and not a detriment to the store. Trust me, if dealers could give everyone KBB value, they would. What EVERYONE forgets is the the law of Retail v.s. Wholsale. Dealerships are a business and they too are allowed to make a profit to stay in business.

Ask any dealer to show you Galves and what it books for and make the necessary deductions or add-ons (deductions like dents, scratches, curbed wheels, damage, mileage, bad CarFax, etc... and add-ons like Navigation, or 4WD, or Auto Trans, etc) and tell them you want book value for your trade. You won't ever get an argument. "Book Value" is Galves. Not KBB. I wish Galves was accessible to the public.


EDIT: I just took a glance in the book. An 09 E92 M3 books for $39,600. Deduct $700 if it's stick, deduct $1,400 if it doesn't have the moonroof, but add $400 for 19" wheels, and $1,600 for Navigation. And that is just for equipment. Still need to tally the condition of exterior, interior, wheels, tire tread, market for the color, Manheim, I could go on...

Isn't funny how you can tell who knows anything about the car business and who doesn't lol?

[shendrick]

So I just got done with a post saying that $60K from a dealer for a used 2011 e90 M3 with 20K miles was crazy and now you're saying the they would give you $40K for a trade in of an 2009 e92 M3 with 21K miles. A $20K spread by the dealers for cars that are quite similar is a complete NG in my book. Either the dealer needs a dose of reality or a private sale is the only answer (admittedly without CPO).

[Amaproracin]

Why would a dealer buy a car for more money then they can buy it at the auction for (cheaper). That would just be bad business.

If they do buy it for more. Expect the car your trading for to be higher.

A dealership is never going to lose money...

[Amaproracin]

Sell the car outright..

Hook up with a wholesaler and buy a car off OVE or manhiem. Offer the dude a 1k plus shipping and auction fees... And call it a day.

If you don't like it. You have 14days to send it back... Only if bought online.

You'd be way ahead of the game.

Plus if you don't get a great price for the one your trying to sell. You'll make up for it with the one your picking up at auction for. Because there will most likely always be equity in that because it was purchased at wholesale price. Hence being a dealer..

Just my 2cents..

[dagolfpro]

Originally Posted by amaproracin

Why would a dealer buy a car for more money then they can buy it at the auction for (cheaper). That would just be bad business.

If they do buy it for more. Expect the car your trading for to be higher.

A dealership is never going to lose money...

Absolutely. Dealerships are in it to make money. Private parties are trying to save/recover as much from their original purchase price. Everyone's in to to Buy low/sell high.

I sold my last car (1999 E36 328is) myself. Dealership offered $2,200 which was the auction price for a trade in. I sold it for $5,800 within a week of listing the car to the first person who came and looked at it. Dealerships are there to make our lives easier so the seller doesn't have to deal with buyers Plain and simple. In my case, I knew I would get more money before I sold it. What it boils down to, do you have the time and patience to deal with buyers who flake, give lame as excuses, not show up, etc... For many, it's a matter of paying the dealership a fee to take you car off your hands so you don't have to deal with the hassles of selling it on your own. Typically, it's 10-20%. In my case, it was much more.

It doesn't hurt to take it to the dealership to find out how much they'll give you. Just don't expect KBB. GL with which ever route you choose.

[Amaproracin]

Absolutely. Dealerships are in it to make money. Private parties are trying to save/recover as much from their original purchase price. Everyone's in to to Buy low/sell high.

I sold my last car (1999 E36 328is) myself. Dealership offered $2,200 which was the auction price for a trade in. I sold it for $5,800 within a week of listing the car to the first person who came and looked at it. Dealerships are there to make our lives easier so the seller doesn't have to deal with buyers Plain and simple. In my case, I knew I would get more money before I sold it. What it boils down to, do you have the time and patience to deal with buyers who flake, give lame as excuses, not show up, etc... For many, it's a matter of paying the dealership a fee to take you car off your hands so you don't have to deal with the hassles of selling it on your own. Typically, it's 10-20%. In my case, it was much more.

It doesn't hurt to take it to the dealership to find out how much they'll give you. Just don't expect KBB. GL with which ever route you choose.[/QUOTE]






Right on! And boy it can be a pain to sell on your own for sure sometime.

[e46e92love]

Its a sign from the car gods that you are making a BIG mistake

Cheers,
e46e92

[DominionXX]

Originally Posted by Crypty

You shouldn't even be considering doing a dealer trade in. That's just common sense. You'll be able to get close to 50 privately.

Actual, it is common sense, not to give advice you know nothing about.

There are circumstances where trading in your car with a dealer can be good.
In some states, when trading a vehicle for a new vehicle, you only pay tax on the difference. We'll use me as an example:

I had an 2011 Audi S5, that I was going to sell privately for $49,000, then take the cash and but my new 2013 E92 M3 at $74,000. I would pay tax on the whole $74,000 (tax = $4,625 @ 6.25%)

Instead, I traded the car in at the dealer where I bought my M3.. for $48,000. I took a grand less. But now I am only paying tax on the difference of 74,000-48,000 = 26,000 (tax = $1,625 @ 6.25%)

I saved 2 grand.

Check with your states, to see if the law is applicable.

[Scrappy]

Well I didn't have to sell the M after all. I now have 4 cars lol. My new DD is a 2012 Civic and I have no idea how it does it but I have 3 car seats across the back. So problem solved.

[Ghetto2315]

Originally Posted by e92involved

Isn't funny how you can tell who knows anything about the car business and who doesn't lol?

lol indeed