Trade value in the 30s for my 2011

[duk]

sell it for at least 45k private?

[dmk08]

Verts seem to lose value faster too.

[highmodulus]

That fender bender you mentioned may really hurt value if it shows up on carfax.

[dmk08]

Originally Posted by highmodulus

That fender bender you mentioned may really hurt value if it shows up on carfax.

Average Carfax accident reduces your trade in value by like 20% or something crazy.

[V1.47fan]

Not surprised, it's an E93 M3.

[M3-S65]

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. 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?

Go with USAA warranty. I committed to mine. $2100 for 60 month 75k miles of course I only have 14k miles on mine. Covers everything, 100% refundable if you cancel it in 60 days and prorated if you cancel at anytime.

[choiceE93]

E93's M3's are definitely harder to sell especially with a manual.
I guess it depends on where you live.
I was able to sell my 2010/ MY2011 6 speed m3 vert to a local high end dealership.
I was able to get above mid 40's
But I also had only 20k miles and no accident.
Opposed to carmax, I would look at small high end car dealerships.
They will offer more than wholesale prices.
Good luck.
I do miss the m3!

[mjposner]

Yes the Carfax shows the accident. Apparently it hit a pedestrian and there was minor damage, all repaired perfectly. Everything was descripbed in "good condition" but said fender and hood prior paintwork.

Car is a DCT not manual. If I buy a car from them its like getting 38,160 due to sales tax savings.

I put an ad here and craigslist, nit much yet. What dio you think of this:

www.mjposner.com/bmwm3

[rcl]

Private party the car is probably only worth about 40k, I think many m3 owners over value their cars..a 4k loss for the ease of trading in a car isn't a relatively horrible loss.

[swanson]

Originally Posted by rcl

Private party the car is probably only worth about 40k, I think many m3 owners over value their cars..a 4k loss for the ease of trading in a car isn't a relatively horrible loss.

[ChrisF]

I buy and sell a fair amount of cars (bad case of automotive A.D.D.). Here's some info for you to make the best decision:

For valuation, I go by Manheim auction values. Your car shows average sales of $42.8K with retailing of $50.4K. For PP sale, I tend to price midway between the two; a little lower for a fast sale. A little less in your case due to the accident. Dealers have the edge on you for sales since a lot of buyers in this range finance vs. pay cash. You can't offer financing so they have an easier time selling and do so at a retail premium.

For sales, try to reach the widest audience. I primarily use Autotrader and CL and price aggressively for a reasonably quick sale. I hate tire kickers so I pre-vet buyers who want to see the car by confirming they either have cash or financing already sorted out.

Regarding Carmax, my recent experience with them was 10-20% below auction wholesale. They use to pay a fair amount for cars but they are a business and have cut their generosity and adjusted their pricing. Autotrader Instant Offer is a little better and ranges between Carmax and Manheim. I sold one car to an Autotrader Instant Offer dealer and the transaction was super easy.

I would probably suggest keeping the car and putting aside your $6K for a self insured maintenance fund. Unless your motor or trans blows up, hard to think of repairs that would warrant that kind of cash. If you have access to USAA and their warranty is actually that low, I'd jump at their warranty and call it a day.

Best of luck.

[mjposner]

Chris thanks for the info. My biggest concern warranty wise is the convertible top. Seems very complicated and expensive to fix.

I do have access to USAA but at least online the only warranty they offered was 4/100 at over 7k. Will never keep car that long. I really need 6/75. Will call them and see what they offer.

Will also see what Autotrader Instant Offer says.

Did you think the website was sufficient (or too much?)

[ChrisF]

Autotrader Instant Offer ranges depending on car. Last time I ran a vehicle thru it gave a comical value ('13 Ford Escape). Time before, it gave a realistic market value ('09 335i) and i sold it for that value. Crap shoot I think.

[osteome]

Carmax in San Antonio offered $35,000 for my 32,000 mile 2009 E93 in January / February. I had all options save for DCT, SAT radio, and extended leather with a clean Carfax.

I tried to private sale it for a few weeks with no success and ended up selling it to a local high end independent dealer for $36,200. They sat on it for at least month at an asking price of $43,000. Judging by the other cars on the lot, I don't think that they put a lot of re-conditioning into their cars. So they probably did not do the plugs, change the battery, or fix the small crack in the underbody tray's leading edge. The rear tires were also close. I sincerely hope that the new buyer did pay much of $39,000.

I have no idea what they sold it for, but I saw it a week ago at a restaurant with new plates on it. The crack in the black plastic was still there.....

The E93 market appears to be soft, as most have said.

[car_fan]

Originally Posted by 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.

it appears folks want to lowball even the very clean cars

[car_fan]

I have been testing the market. My "story free" 18,700 mile, garaged 2012 AW/fR extended with all factory options + OEM Spliiters/Mirrors and more, got a valuation of $48k at CarMax. Dealers want to steal it at $43K Not interested The folks at EAG (Enthusiast Auto Group) provided the only realistic offer. In all honesty I would rather keep my E92 ///M.

[mjposner]

Autotrader Instant Offered 39K, got alot of call same day offering "more" but when prrssed none really responded.

[s4play]

Originally Posted by 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.

Don't get so into yourself tooting your own horn lol $1000 profit isn't even worth thinking about - unless yourforgot about your own time, taxes, registration, etc.

The dealer is calling you because they want to sucker you into another sale - you really think they are calling because they "want" or need your car you are truly a dreaming. It's all marketing ploy....

As to the OP ~ you want convenience of a dealer you have to pay for it but if you sell private party, well as the others here have said it's quite a bit of work so no free lunch as they say.

[Yay-Z]

This is the worst possible time to try and unload ab M3. With the m4 coming out, it's going to hurt prices. Would wait for market to settle.

Personally I'm keeping my car forever now.

[scrammer]

Done this 3 times in the past with great success.

Advertise your car on cars.com or equivalent for half way between trade-in value and market value … and offer the buyer to purchase through a dealer … as that way everyone is protected!

For example, the dealer offers you $30k (wholesale) for your car while they have a similar one on the lot for $40k (retail).

Since you are buying a "new to you" car from the dealer you offer to bring your own buyer and now the selling price on your trade is $35K.

Buyer deals with the dealer and gets a $40k retail car for $35k so he is happy … and you get $35k for your trade less the $400 doc fee to do the deal … and you buy the "new to you car" from the dealer and save the $4,600 on the trade-in and therefore the difference on the taxes too …. and the dealer is happy because your trade is an in-and-out deal and they move a car off their lot in one day .. with that in mind, the sales person gets paid too!

Sounds interesting doesn't it … shop it around and you will be surprised how many dealers will step up and do this type of deal!

Go to your local dealership and make initial contact with the business manager … not a sales person … and you will be good to go!

[dparm]

Originally Posted by briancl

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

Not really. Their pricing is quite competitive, but it does vary based on the region.

[BzsBimmer]

Originally Posted by dparm

Not really. Their pricing is quite competitive, but it does vary based on the region.

I agree
I may have overpaid slightly but I just picked up a 2010 M3 DCT Sedan from Carmax with 43K miles for less than $42K and pretty much loaded with everything except cold pkg, alarm and comp pkg.
Came with Macht Schnell intake, BMW carbon splitters and BMW carbon side view mirror covers which also sweetened the deal.

I tried hard negotiating with other dealers in my area and even dealers out of state. Most 2011's with same or slightly less mileage were in the $48-52K price range and would only budge a few hundred dollars.

Maybe because sedans are a bit harder to come by than coupes, the dealers are less willing to deal.