Trade in value sucks

[c1pher]

Just go private party if you can. The dealer is always going to squeeze every dollar out of you they can. Private party requires some patience but pays off. And what's nice is that the buyer and seller both get a good deal because again, that car you got offered $16k for will be sold for $26k.

And just because I recommend this doesn't mean I don't try to trade my car under the right circumstances. I found a Stingray for a good deal (end of year) with options I was looking for. Of course I wanted to know what they'd offer me on my Avalon. Coincidentally they offered $16k max. Couldn't do more at all. I walked out saying they low balled me and I didn't want to buy from them. 30 minutes later I get a call asking if I'd buy the vette if they gave me $23k for my trade. Just like that they managed to do the impossible and find another $7k. I went and bought the 135is instead and kept my Avalon lol.

[lakefront]

May be it's not as obvious in the North West, but it really seems to make a huge difference as to the time of year when you sell a car like a 1 series. Anything considered a "performance" car, convertible, coupe, etc is gonna be hard for the dealer to sell quickly this time of year so they WILL lowball you. Few years ago went and got a quote from Carmax on wife's E92 335i and it was a complete joke. Salesman said come back in the spring and we can give you a few thousand more.....

[c1pher]

True, same thing with convertibles and motorcycles. With gas being cheap, hybrids are also harder to sell.

[c1pher]

Doh, you said convertible.

[uberschnell]

Do you understand what an absolute nightmare BMW's are after the warranty expires? Go look at a 5-7 year old 750i. They are selling for less then 20% of their original price.

These things are unreliable and $$$ to fix

[Tommm]

With the numbers you are getting, maybe I will find a $6,000 clean 128 6m coupe with say 90k miles in about a year and a half when my daughter starts to drive.

Then I can mod mine the way I want without getting flack from she who must be obeyed (or in this thread she who makes the sandwiches)

[ianc]

These things are unreliable and $$$ to fix

True, but they go like stink, are a dream to drive, and are almost affordable if you can do (the bulk of) your own work.

Just don't buy a brand new one. I did... :-)

ianc

[tock172]

Threads like this always make me laugh. What did you expect to happen? The dealer trade in offer is almost always the lowest offer you'll get. As other have said, try CarMax or go private party if you have confidence in yourself to clean the car up, photograph it nicely and make a good deal when it comes time to sell it.

I was exploring trading mine in last month. 2011 6MT Space Grey with iDrive and 35k miles and the dealer's offer was substantially higher than yours. Don't forget, the first number thrown out by the dealer doesn't have to be what you settle for. You can negotiate your trade as well.

[Diver]

GM reports it has as many cars in inventory as it did during the 2008 crash. There are factory incentives now on Corvettes and Camaro. This may be pushing used car prices down, except that in the used market SUV's and pickups are hot.

[desertman123]

Originally Posted by tock172

Threads like this always make me laugh. What did you expect to happen? The dealer trade in offer is almost always the lowest offer you'll get. As other have said, try CarMax or go private party if you have confidence in yourself to clean the car up, photograph it nicely and make a good deal when it comes time to sell it.

It's a used German luxury, being traded into a dealer. And it's pretty niche market - who's buying convertible 135s?

[HyeWarrior]

Hell, regular 135i coupes are a niche market too.

Everyone in the ~$20k market to buy a BMW is looking at a 3 series

[Vigilante375]

Originally Posted by Cavpilot2k

On a completely unrelated topic, but since you are talking about Highlander vs. 135i, I have my own Highlander vs. 135 story:

Two and a half years ago I was sitting stationary in traffic in my 135 and was rear-ended by a Highlander doing close to 40 mph.
There was damage to my 135, but nothing critical and nothing that affected driveability (no impingement into the wheel well, no axle damage, etc). The highlander's entire engine compartment was smashed and leaking multiple fluids. I drove home and the Highlander was totaled.
Tell your wife that in the interest of safety, you'd rather keep the 1er

Well, newer vehicles are suppose to "crumple" around the passengers. Energy is distributed evenly and along the vehicle. Sounds to me like the Highlander did what it should have done and makes a good choice in a crash like that. My 06 GTO did like your 135 after it was rear ended by an 01 Lightning as I was at a stand still and he was doing 25-30 mph, it crumpled but I could have driven off base and to the body shop.

Originally Posted by desertman123

Depreciation on BMWs is depressing. Also tradeins suck too, you're (obviously) better off selling it yourself. But tradeins are also really convenient. Good on you for leaving, if he can do better he'll call, otherwise there's plenty of other Highlanders to go around.

I priced together my parents 5 series they just bought, it was like $65K new and now 2 years later (it's a 2014) it's at less than half that value.

Depreciation does suck and dealers suck on taking trade in's. Of course the easy route is always the hardest route, this case. Its not like we need the Highlander now, the 2017s are being released so we can wait.

Originally Posted by 1and1

As a general rule, don't ever trade-in unless you bring your own KY lube. Rather, be patient and sell it yourself, you will always come out several thousand ahead...

Yup. I knew I was going to get rammed but I didn't know it was going to be this bad!

Originally Posted by Dthltm

It is certainly an issue of preference but I would never ever buy a soft top convertible, and I think many other people out there think the same; which likely severely limits the target audience. From the lack of visual appeal, to lack of security, it is simply a deal killer...that is unless it is a 2nd or 3rd car...and then I would still find one that came as a hard top!

My car is a coupe, no convertibles for me.....ever. Only removable tops like a Vette or 918 Sypder or Lotus.

Originally Posted by davis449

When I went into BMW here for the Z4, the book trade-in value (excellent condition) on my 2012 135i M Sport was $23K and change. My car more than met the qualifications for excellent condition. I knew they could sell it down here in a heartbeat. They low balled me at $18K. They threw every excuse in the book at me (i.e. Which book are you looking at? Well, we look at the local market and auction prices, too..). I made it very clear what I would take for the car and that I didn't NEED what I test drove.

2 trips to his manager, and the car was taken on trade at $23K. Don't let these fools push you around. They're not being dicks, they're doing their job. You fall for it, that's on YOU.

2 weeks later, my buddy spotted my former car on the road. I am positive they made good money on it, still. Also, note that mine was under recall for airbag as well.

They threw excuses too. Time of the year, where we live, its RWD, last action one, like mine, sold for $19k, etc. I did make one attempt and when we can back from the manager, he said they'd go up another $600. Thats when we left.

Originally Posted by The Wind Breezes

Trade in value ALWAYS sucks unless you have a secretly broken car and manage to defraud the dealer. That's how they make money.

Yea, if I knew I could get away with that then I would for sure. My car isn't but is getting treated like it is. I know they make money from trade in's and probably knew they could get a lot of resale money from mine.

Originally Posted by MGM135is

Just go private party if you can. The dealer is always going to squeeze every dollar out of you they can. Private party requires some patience but pays off. And what's nice is that the buyer and seller both get a good deal because again, that car you got offered $16k for will be sold for $26k.

And just because I recommend this doesn't mean I don't try to trade my car under the right circumstances. I found a Stingray for a good deal (end of year) with options I was looking for. Of course I wanted to know what they'd offer me on my Avalon. Coincidentally they offered $16k max. Couldn't do more at all. I walked out saying they low balled me and I didn't want to buy from them. 30 minutes later I get a call asking if I'd buy the vette if they gave me $23k for my trade. Just like that they managed to do the impossible and find another $7k. I went and bought the 135is instead and kept my Avalon lol.

I'm going to wait until the weather gets better, later this year, and go to the dealer again to see what amusement I get from their offer then I'll sell privately. You can always get more that way I know and it does take time. I only wish the dealer hadn't low balled me. Low balled doesn't even describe this, really.

Originally Posted by lakefront

May be it's not as obvious in the North West, but it really seems to make a huge difference as to the time of year when you sell a car like a 1 series. Anything considered a "performance" car, convertible, coupe, etc is gonna be hard for the dealer to sell quickly this time of year so they WILL lowball you. Few years ago went and got a quote from Carmax on wife's E92 335i and it was a complete joke. Salesman said come back in the spring and we can give you a few thousand more.....

We'll go back later next year and see what they can offer then. Timing is key, for sure.

Originally Posted by tock172

Threads like this always make me laugh. What did you expect to happen? The dealer trade in offer is almost always the lowest offer you'll get. As other have said, try CarMax or go private party if you have confidence in yourself to clean the car up, photograph it nicely and make a good deal when it comes time to sell it.

I was exploring trading mine in last month. 2011 6MT Space Grey with iDrive and 35k miles and the dealer's offer was substantially higher than yours. Don't forget, the first number thrown out by the dealer doesn't have to be what you settle for. You can negotiate your trade as well.

Not going to CarMax as we're wanting to buy a new '17 Highlander. The closest CarMax, to me, is 3+ hours away. There is one that is about to open that is ~30 minutes away. But what is funny is about 2 years ago, a Chevy dealer offered $30k. Its just crazy in 2 years, I get extremely low balled by a Toyota dealer for almost half that.

Originally Posted by Diver

GM reports it has as many cars in inventory as it did during the 2008 crash. There are factory incentives now on Corvettes and Camaro. This may be pushing used car prices down, except that in the used market SUV's and pickups are hot.

That's what I'm trying to take advantage of. Either picking up a 20% off '17 1LE or a 20% off '16 or '17 Chevrolet SS.

[zx10guy]

People say trading in is the worst thing you can do to maximize the amount of money you get on your used car. A lot of the same people suggest going to Carmax. I can tell you that also is the worst thing you can do to maximize the amount of money you get on your car. There are a few car buying services out there where they'll give you more for your car than Carmax will ever do. I know this personally as I went through the Carmax appraisal process and laughed when they came back with their offer. I went to a car buying service and walked out with a lot more money than what Carmax offered. The whole process took maybe an hour with all the paper work and them doing a physical appraisal on my car.

Carmax isn't the only game in town anymore.

[c1pher]

Carmax is just like any other dealer. They just make the process faster to alleviate you of your trade and money lol. I thought I got a good price from Carmax for a 1995 Dodge Neon I wanted to sell back in the day. I thought I was being slick by having the printed offer letter in my pocket when I went to the dealership to negotiate my trade only to be surprised they offered me more than Carmax lol.

[zx10guy]

I agree. Carmax is just like any other dealer. The car buying services are a new bread of animal. They're typically much smaller operations than Carmax. And they operate on light overhead compared to Carmax. The buying service I used was "We Buy Any Car". The location I visited was a shared office space with other businesses which didn't want to pay for dedicated office space of their own. Each business was segregated by their own rooms/office and share common areas like break rooms/conference rooms and even a receptionist at the entrance. I mention this as the low operating expense allows these companies to offer more money than what a large conglomerate like Carmax would. They're also not dependent on revenue from selling the car on the retail market. No need for showroom floor space. No need for a big work force in salespeople, finance, service, etc. They flip these cars around through wholesalers and auctions. So they operate on volume of transactions.

As I said above, the process going through this buying service was just as easy as going through Carmax but I ended up with significantly more money for my used car.

[Mr Rooty Von Tooty]

I hardly ever do business locally. I buy and sell cars all over the country, and I do most of my negotiations over the Internet. For some cars, I travel to see them others I don't have too. Anyway, the point is you have the whole country to do business in. Also most buyers don't really need to see your car to make a deal. A few simple check will determine its condition.

Anyway trading in a BMW at a Toyota Dealership probably isn't a good idea. They probably don't want the car in their inventory, so they give you a low offer. This is normal business. For fun, you should see what a BMW dealer might offer you.

With used cars, you need to consider the buyer's inventory level, time of year, and how well is their business doing. Also if you visited the dealer at different times of the year, you'd get different offers.

Cars.com is a good way to locate possible deals. If you work at it, you'll find a dealer who is hungry to make a sale. Don't expect to do a deal in a matter of hours or even days. Some of my best deals have taken several weeks to negotiate. All you have to do is say, "I'll think about it!". In the low ball offers, the dealer is hoping you won't spend any time thinking.

I don't know why you people keep shooting yourself in the foot? The only way to get any value out of a vehicle is to keep it and use it. Right now, the average ownership length is 11.5 years.

For fun, you should read our great leaders two books:

The Art of the Deal
The Art of the Comeback

They contain some valuable advice you can use in your transactions for buy a car, house, or just about anything. Negotiations are an art from, and very few people have that skill. BTW, all car dealers hate me! LOL

[Mr Rooty Von Tooty]

BTW, I forgot one important resale problem with the One. The car isn't a current model. It's no longer made! Also when it was made, they didn't make that many of them. Those are big problems!

[Diver]

Originally Posted by Mr Rooty Von Tooty

BTW, I forgot one important resale problem with the One. The car isn't a current model. It's no longer made! Also when it was made, they didn't make that many of them. Those are big problems!

When the 2 series came out, 1 series used prices plummeted. I feel the resale value is below the transportation value of the car. A similarly priced used SUV, perhaps the hottest thing on the used car market, is going to be a much worse car.

[doublevanosrc]

Originally Posted by Diver

When the 2 series came out, 1 series used prices plummeted. I feel the resale value is below the transportation value of the car. A similarly priced used SUV, perhaps the hottest thing on the used car market, is going to be a much worse car.

Agreed. I test drove many new models(2,3 series, GTI) before buying another 135 and truth be told none drove as well as the 135i. Sure they come with all kinds of cool gadgets and the suspension on the M235i is damn near perfect, but it was't enough to offset the numb steering and brake pedal travel feel. They just don't make them like they used to.

[Mr Rooty Von Tooty]

So now all of this being said, you should recognize the car for the virtues it has and not its resale value. I consider it as the best car owned so far in my life. I like it better than my other favorite car, 2010 SLK 350! Also I can afford to buy any car on the planet. In fact, I have a couple in my inventory worth more than that.

People are so dumb. When they've got something good, they want to replace it. I'd bet if some of you had a good GF or wife, you'd trade her in.

Anyway, I'll be driving this car for years to come. They aren't going to be making anymore like it. Perhaps I should buy a spare?

[tock172]

Originally Posted by zx10guy

People say trading in is the worst thing you can do to maximize the amount of money you get on your used car. A lot of the same people suggest going to Carmax. I can tell you that also is the worst thing you can do to maximize the amount of money you get on your car. There are a few car buying services out there where they'll give you more for your car than Carmax will ever do. I know this personally as I went through the Carmax appraisal process and laughed when they came back with their offer. I went to a car buying service and walked out with a lot more money than what Carmax offered. The whole process took maybe an hour with all the paper work and them doing a physical appraisal on my car.

Carmax isn't the only game in town anymore.

Bullshit. I've had several of my cars appraised by CarMax and various dealers. CarMax usually beats them all by around 20%.

You say there are other car buying services that offer a better value which may be true, yet you don't suggest a single one.

[tock172]

Originally Posted by Vigilante375

Not going to CarMax as we're wanting to buy a new '17 Highlander. The closest CarMax, to me, is 3+ hours away. There is one that is about to open that is ~30 minutes away. But what is funny is about 2 years ago, a Chevy dealer offered $30k. Its just crazy in 2 years, I get extremely low balled by a Toyota dealer for almost half that.

The fact that you want to buy a new Toyota Highlander has nothing to do with CarMax. Every offer they make is paid in the form of a check. Selling your car to CarMax does not prevent you from buying a car elsewhere. It seems like you haven't done much research into this entire transaction.

One other thing than no one has mentioned yet is the manual transmission. Both NADA and KBB translate the manual transmission to equal a $750 to $1,000 valuation hit in comparison to an automatic. For that reason alone, I think you're better off selling private party.