Trading in my 2011 M3... fair offer?

[Wah]

EDIT: I think I'll try to sell privately. I have plenty of time. Thanks for the info.

[Bavarian Beast]

If you are happy with it then it is a fair deal. Enjoy the new M4!

[X5-User]

Originally Posted by Wah

So I was at my dealer negotiating for a new M4. Dealer offered me $42,000 for my 2011.0 E92 M3, premium, technology, competition, DCT, CF Roof, 25K miles. Clean, no accidents, no mechanical problems. The car needs new tires and warranty is ending in 3months. With the trade in tax adjustment, it equals to about $45000 private sale. The only downside is that it is a pretrade, so I will have to give up my car this week. I have another car so its not a big problem, but I'll miss her.

Fair offer? Forget the other side of the sale (M4 price)... since I am getting a discount on it whether or not I trade in my car and it seems MSRP is the going rate.

Thats the price of the car in the market. I expect the dealer will sell it for 45k ~ 46k

[Vic311]

You think the dealer is only going to make $3K? They will most likey ask mid $50K and settle on low $50K.

Try to sell it privately.

[Wah]

I know I can get more privately... but the question is, how much more?

[X5-User]

Originally Posted by Wah

I know I can get more privately... but the question is, how much more?

The problem is it may take you long time to sell it privately. How patient are you with dealing with buyers is all up to you.

[Vic311]

Originally Posted by Wah

I know I can get more privately... but the question is, how much more?

I stated it above. You can get low 50s, (high 40s for a quick sale) depending on condition and options. Needing new tires is going to ding the price though.

[fuddman]

Originally Posted by Wah

So I was at my dealer negotiating for a new M4. Dealer offered me $42,000 for my 2011.0 E92 M3, premium, technology, competition, DCT, CF Roof, 25K miles. Clean, no accidents, no mechanical problems. The car needs new tires and warranty is ending in 3months. With the trade in tax adjustment, it equals to about $45000 private sale. The only downside is that it is a pretrade, so I will have to give up my car this week. I have another car so its not a big problem, but I'll miss her.

Fair offer? Forget the other side of the sale (M4 price)... since I am getting a discount on it whether or not I trade in my car and it seems MSRP is the going rate.

I never heard of a deal whereby the buyer gives up ownership of his car while he waits for the new one to arrive. Kind of interesting.
So, how long do you have to wait for your new car to arrive? Are you leaving your car on consignment with the dealer?

[Wah]

Its a trade in. They gave me the option of trading it in when my new car comes (3 months?) or trading now. Obviously, I get more if I give it up now. I guess I'm risking my car if the dealership goes bankrupt between now and when my new car comes in. Honestly, I wasn't even thinking about that.

[2 SLOW]

Originally Posted by Wah

Its a trade in. They gave me the option of trading it in when my new car comes (3 months?) or trading now. Obviously, I get more if I give it up now. I guess I'm risking my car if the dealership goes bankrupt between now and when my new car comes in. Honestly, I wasn't even thinking about that.

If you trade it in, you'll also save about $3,000 in taxes so take that into consideration (pretty much add it to the trade-in price).

[fuddman]

Originally Posted by Wah

EDIT: I think I'll try to sell privately. I have plenty of time. Thanks for the info.

Smart move, IMO.

[John Tanglewood]

Originally Posted by fuddman

I never heard of a deal whereby the buyer gives up ownership of his car while he waits for the new one to arrive. Kind of interesting.
So, how long do you have to wait for your new car to arrive? Are you leaving your car on consignment with the dealer?

Precisely the situation with my father and his purchase of a new Bentley. Will have to give up his current one and wait 3 months until the new one comes in. Kind of a 'take it or leave it' kind of situation I guess.

[2 SLOW]

Originally Posted by 2 SLOW

If you trade it in, you'll also save about $3,000 in taxes so take that into consideration (pretty much add it to the trade-in price).

The first post was deleted when I posted this, but I now see that you are aware of this