Used 08 M3 Coupe Asking price?

[jwnpgh]

I always wonder why dealers ask such high prices for used cars.

Santa Maria BMW Volkswagen has a used 2008 coupe. One of the photos is the original sticker price. It shows $63,570. They have the car advertised used with over 5,000 miles for $62,800.

I am just amazed at the reasoning for publishing this ad on cars.com.

I guess they own it and can ask any price they want. It is just so odd to even consider it. These people buy and sell cars for a living, they know what they are worth, it is implied then that they are looking for someone that doesn't do research or know any better.

I don't have a problem with that, but it is predatory in nature.

[Bomex]

they are idiots imo....my local bmw dealership has a 08 m3 with 5,000 miles for 68 grand. In the pictures they have posted up there is mounds of snow in the background so the car has been on there lot for awhile and probably going to be there for a long time with that price.

[jwnpgh]

bomex

my reflex response would be the same, but I tend to not want to bother with it. It is frustrating for a person searching for used. If you build these cars at edmunds to get an aproximation of the value, they are trading for mid 40s.

based on that assumption and adding a "fair" profit for the dealer, and with demand as it is, I would expect to see asking prices in the high 40s.

[skim]

You need to understand deals on new 08s were really sweet for like 3-4 months only. Therefore anyone who bought it before the "killer" deal period probably paid 55+k easily. Some dealers bought back for a lot as well. When I was shopping for my M3, used M3 was priced at 58k and my sales guy said honestly he won't be able to do much better on the used since they bought it for more than what I'd pay for a new one!
If looking for an 08, forget used, and just go look for a brand new 08 leftovers. You should be able to find some if you are looking for 6sp.