Brutal trade-in...

[Amirsm3]

Originally Posted by Goat Rodeo

Except that each month the car sits as you wait for the somewhat arbitrary market value, the car depreciates, you likely make another payment on it, and you're still paying insurance. It behooves someone wanting to sell a car to move it as quickly as possible. I love people that hold out for some lofty price for six months to a year - and end up making less money than if they sold under market from the dig.

That said - I didn't accept the 50K, but even then I would still be getting equity out of the car. My original point is that 55K for a smooth dealer trade-in on a '13 with 15K miles is far from "brutal."

And one point that I feel gets understated - from experience - 50% of people that respond on the forums and especially Craigslist I would have concerns about letting onto my property. I'll take 5K less sitting in the dealership sipping a latte than deal with some stranger that can't put two sentences together.

This. My friend waited 18 months to sell his 350Z instead of trading it. What a dumbass lol

[MFL]

It's only worth what someone will pay for it. Trade accounts for profit margin.

[Ludey]

Originally Posted by Amirsm3

This. My friend waited 18 months to sell his 350Z instead of trading it. What a dumbass lol

Whether or not someone is a dumb-ass is 100% completely dependent on each individual situation.

Take my recent situation. I found the 2013 I wanted. It was veeery hard to find. took me six months of waiting. When I found it, I took approx a 2-3k loss on my current car. I'd be a dumbass if I held out and tried to sell it for more since I'd likely lose the hard-to-find car I want to get in to.

However, let's say you want to get an M4, and you really couldn't care less when you actually get it. You still love your current M3, you're in no hurry. So, you're going to keep enjoying that while you try to sell it through private party sale. You try to get as much out of it as possible while you wait. In this situation, you are playing your cards quite cleverly.

[JoePcone]

[QUOTE=Ludey;16346905]I find the exact opposite to be true if you are honest about the condition and the fact that it is a "trade in" and not private party. For example, I purcahsed my 2013 about a month ago for 62 from a dealer. The guy that traded it in, is on this forum and got 58k for it. KBB states 58.8k as the value in Very Good condition and 59.9k in Excellent. It's excellent condition, but I still consider this within a reasonable range, percentage-wise.

I've bought and sold many cars over the years and have found KBB to be very accurate. Again, not perfect, but you'll get different offers depending on where you go anyway, and this is not an exact science and is constantly changing.


So basically you paid $2k more than you should have?

[Ludey]

Originally Posted by JoePcone

So basically you paid $2k more than you should have?

"Should have?" Not sure what you mean exactly. The car's retail value is 63, so you could argue that I paid a little below dealer market value. However, I agree that it wasn't a smoking deal or anything. It's possible I could have got one for 60 if I was open to other colors and options, but I had a very specific "build" (not sure what you call it) of options/colors/year/mileage/condition that I was in the market for. I searched for a long time to find it, and so I was willing to pay a bit of a premium. 62 isn't terrible, and not great either. But I can afford it and I couldn't be happier with my M.

[MFL]

Used Car Buying Tip:
Learn the Manheim Value of your car.
Learn the retail value of your own car.
Learn the Manheim value of the car you're intending to buy.

Adjust your offer accordingly to their offer. If they offer you Manheim and nothing more, do the exact same.

[6underpressure]

Originally Posted by PatatasFritas

Had my 2013 loaded comp package E92 evaluated for trade-in this morning. 15k miles and a history of bumper repaint (trash can scratched it). Trade-in: 55k....
I guess the new cars coming out are killing resale...

Wow that's a lot hight then when I went to Porsche sad 45k msrp new was 76626 ... 2013 with 17k

[JoePcone]

Originally Posted by MFL

Used Car Buying Tip:
Learn the Manheim Value of your car.
Learn the retail value of your own car.
Learn the Manheim value of the car you're intending to buy.

Adjust your offer accordingly to their offer. If they offer you Manheim and nothing more, do the exact same.

Absolutely the truth. It's a simple process. Assume they're paying the Manheim prices for the cars they're selling. This is because when their cars don't sell, they usually go back to the auctions. If a car has been on the dealer lot for a while you can rest assured they'll sell to you at or slightly above the manheim price before going to the auction, especially at the end of the month to move cars.

[Dave07997S]

Originally Posted by PatatasFritas

Had my 2013 loaded comp package E92 evaluated for trade-in this morning. 15k miles and a history of bumper repaint (trash can scratched it). Trade-in: 55k....
I guess the new cars coming out are killing resale...

Thats actually not bad for 15k miles...

Dave

[TVMA Doc]

Originally Posted by hobart

Kinda know the feeling. Have a 2013 335is, 10k miles,pretty much loaded. No issue with car at all and have a Dinan Stage 2. I know it is not a M3 but expected to get more than $38k on trade in on a new M3. NADA, KBB and BB all say about $43k for trade in. Interesting to hear them say they don't go by those companies for trade ins...only when they choose to.

BMW also takes money off their offer for anything not standard OEM. They took money off my wife's 325i trade in because I had recently done a Dinan stage 2 suspension. They actually told me that I would have been offered more with the original BMW suspension that had 130k miles on it.

[TVMA Doc]

Originally Posted by MFL

Used Car Buying Tip:
Learn the Manheim Value of your car.
Learn the retail value of your own car.
Learn the Manheim value of the car you're intending to buy.

Adjust your offer accordingly to their offer. If they offer you Manheim and nothing more, do the exact same.

My mother-in-law has this down to even more of a science. I guess having grown up in Vietnam haggling for daily purchases has made her a shrewd bargainer.

I've never paid more than invoice for a car, but we took her in to purchase my wife's first car after we got married. She ended up talking the dealer into $1500 below invoice-she literally cut into their dealer incentive to the point where by my calculations they made only $500 off the car.

After we shook hands on the deal the salesman who had done the "this is the final offer/I'll have to go talk to my manager" turned to me and said, "she's GOOD!"

There's a lot to the mindset and your attitude. They have to know that you are calling their bluffs and are ready to walk-or in her case that you're calling their bluff and can read exactly what number they will eventually get to anyway.

You're suggestion sounds pretty much like what she learned from experience. Turn their game right back at them.