Trade value in the 30s for my 2011

[mjposner]

So as my warranty nears its end I have been looking at my options. Took my car to Carmax yesterday, they offered 36k for my loaded early 2011 vert, Jet Black, Black interior, tech, edc, sat radio, 19" wheels, enhanced stereo. Got dinged for a fender bender on front.

Reeves BMW Tampa offered $28,000 and $34,000 in value as trade in on a 2012 CPO M3 E92 with only 9,300 miles (though priced at $58k).

That pretty much seals my decision to keep the car at least two more years.

[FormulaMMM]

Why not private party sale?

[radiofrequency]

How many miles do you have on your vehicle? You will always get bent over on a trade.....I sold a car recently, and it was a surpisngly simple and satisfying transaction, got within $500 of KBB 'Sale to a Private Party" value.

[mjposner]

The car has 41,300 miles. I would take 39.5k trade in or $42 sale (trade in saves sales tax at $600 per every $10,000.

Will probably give that a shot, or just keep. I do like the new BMW M235i which I drove with a stick, it was a blast.

[LarThaL]

Unless you truly have a compelling reason to get rid of the car, just keep it. The more I see and drive, the more I just love my M3. This is forgetting even the practicality of back seats and a trunk, and just focusing on the driving and ownership enjoyment aspect. For where I am in life at this point in time, there is nothing else I would rather own right now.

[to///m]

ive always wondered why people get bent over on trades... private party all the way if you want a reasonable price

[Yay-Z]

Originally Posted by LarThaL

Unless you truly have a compelling reason to get rid of the car, just keep it. The more I see and drive, the more I just love my M3. This is forgetting even the practicality of back seats and a trunk, and just focusing on the driving and ownership enjoyment aspect. For where I am in life at this point in time, there is nothing else I would rather own right now.

Cosign

[miringrains]

They're trying to retail the car at $48k

[X5-User]

I keep hearing CarMax offers reasonable prices, maybe it is not for high end cars.

[mjposner]

Well my biggest reason for selling is lack of warranty. At a cost of $6,200 for factory extended warranty, plus maintenance costs coming up, I am just not sure I want to commit. So I am taking the advice here and will try private party sale:

http://mjposner.com/BMWM3/

and http://************/mpeclnd

Can you take a look and give me feedback? Priced too low? Should I add anything?

[briancl]

Carmax marks up the M3 pretty high, so they just want to make $$.

[TrevorM3]

Originally Posted by Palestine

I keep hearing CarMax offers reasonable prices, maybe it is not for high end cars.

They offer wholesale pricing when they buy. At least that's what the guy told me when i took my car there.

[Edward]

If you like the car, just extend it and drive it worry free for a while longer and sell at that point. Unless you really want to keep an M3 longer. In which case, find a 12-13 with super low miles and exchange it. One thing is certain - it may cost a lot more to get into a car as fun as an M3 in coming years.

[aus]

Don't forget to post on CraigsList
Good luck.

[fuddman]

Originally Posted by mjposner

Well my biggest reason for selling is lack of warranty. At a cost of $6,200 for factory extended warranty, plus maintenance costs coming up, I am just not sure I want to commit.

Keep your car. And stop worrying about whether or not it's going to break down. Your driving will have a lot to do with that.
The value of any new car you're going to buy will lose $6,200 in value the second you drive it out the dealers door.
Grab your honey, put your top down and go for a ride!

[Genericuser1]

Originally Posted by fuddman

Grab your honey, put your top down and go for a ride!

Quoted for Troof

[mPlasticDesign]

Originally Posted by briancl

Carmax marks up the M3 pretty high, so they just want to make $$.

Carmax used to give pretty close to KBB trade in value plus a few hundred dollars. They even used to display the KBB printout on the window of all the cars they sold.

Lately they have been offering auction price and selling over market value even sometimes. Seems they just got a little greedy because the used car market is hot now. I won't do business with them anymore.

[GMe90]

Originally Posted by to///m

ive always wondered why people get bent over on trades... private party all the way if you want a reasonable price

What's the best way to sell to a private party? Autotrader, Craigslist? Do you price the car at KBB or higher to negotiate down to KBB? I have tried selling cars privately, and I can't even get one offer.

[to///m]

Originally Posted by GMe90

What's the best way to sell to a private party? Autotrader, Craigslist? Do you price the car at KBB or higher to negotiate down to KBB? I have tried selling cars privately, and I can't even get one offer.

I have used both Autotrader and Craigslist. Autotrader is nice because you get a broader audience but you have to pay, craigslist is nice because its free and mostly local dealings. If your serious about selling it, post on both.

As for price, I have always used KBB. For setting your price, I would get the Private Party KBB price and then mark up a few thousand depending on certain bonus factors (new tires, extra this or that, blah blah blah) and leave room for negotiation. Im satisfied getting around KBB private party value depending on the customer and complexity of the transaction.

FYI, every single one of the cars I have bought and sold have been private party, both my M3's were CPO's too

[mdefalco25]

I used to think Private Party sales were a better option, but lately I have been getting offered 7 grand under my asking price. I'm just $500 over KBB and NADA so not sure what's going on in the market (besides flooded), but it appears to me at least everybody is trying to get a huge deal on M3s at the moment. Craigslist only generated spam for me. I would suggest staying away from this forum and try the Autotrader route if I were to do it again.

[Darth Federer]

I feel like I got a very good deal on my 2012 m3. I was a hard negotiator and was fully prepared to leave the dealership without it. I bought it used from an Acura dealership. I immediately took it over to my bmw dealer for a maintenance report and inspection and have had it back again for the MPE install. Since then I've received 3 emails and 2 phone calls from the dealership trying to buy my car. Frankly I could make about $1,000 by selling it to them. Glad I got a good deal and based on my initial impressions of the M4 I'm very glad I got the M3. Not sure why they are hounding me for my car so bad if the market was flooded or depreciated. Also, like most other style changes, I think the M4 will grow on me.

[MikeD]

Originally Posted by miringrains

They're trying to retail the car at $48k

Yup, there's your reason for a low ball $35k...