blinsc

It's not a 5-9k car, the value he's being offered is 5-9k lower than the asking prices he's seeing on AutoTrader.

vic55

thanks, sunday speed reading has me all messed up..

shapiroeric

Not an actual value of 5-9K but that's amount below what they are offered for on autotrader.....and that sounds about right for a trade.....dealer is gonna want to make some money and if the OP doesn't like the offer he can private sale it.....from my perspective I would take the low offer, make up some tax savings, and be done with the car.....

kosmo

Lived in both. Cant deny CA's weather and natural beauty.



Still perfer The Lone Star State.
Btw wanna move this to OT?

blinsc

Don't know about you kosmo but here in north Houston (Willowbrook/Champions area), that image just about exactly sums up how I feel, particularly the last few weeks.

thxbuff2001

I am planning to trade my 08 M5 38000 miles.

thxbuff2001

Thats what I would be taking. I think in about 2 years, I have bought 3 cars and I was ahead on all of them. You cannot win them all.

For me if they could adjust their offer by about 3k I would be happier with my trade. Not too much really.

I told them to let me know as soon as the car is on route to the dealership and lets get over this.

ATXGT3

Yeah, hmmmm...not a surprise statement, but the M cars not so great on the resale. Hope it works out.

GREAT NEWS--GT3 is in bound!!

thxbuff2001

I have lived in Los Angeles and now I am in texas. Opportunity brought me here.

arena-RTR

Do it (basically) the same way a dealer does it:

1. Go to cars.com and search for all used cars in with the same year, make, and model, and sort the list by mileage
2. Find the least expensive 3-4 cars available with similar mileage, and average their asking prices together.
3. Deduct 10%, and anything the car will need in service in the next year (tires, brakes, etc)

Basic wholesale value. Viola.

arena-RTR

Of course they are... The cars you see on Autotrader have no buyers at those prices: If they did, they would already be sold. Even then, how many buyers do you think expect to pay the asking price they saw listed when they go to buy used car? I've been selling cars for a long time, and let me answer that one for you: Zero.

So why would a dealership buy a car from you, go through the hassle of transferring title, list the car online, pay for a location that is easy for buyers to go see the car and someone to answer phone calls and do test drives, only to lose a few thousand dollars when they sell it?

Personally, if I got a trade-in value that was only $5k less than what I saw on autotrader, I would give them the keys and run for the hills.

arena-RTR

Your car is worth between $20k and $24,000. If your car is loaded, has never been in an accident or had anything repainted, has 1 owner, has new tires, has new brakes, has the most recent service completed, and is in a desirable color, then you may be able to get as much as $25k.

Do NOT accept anything less than $20k, unless your car has bald tires, has been in a major accident, and needs a major service in the next 6 months. In that case, I would list it on cars.com for $25k, and see if you get lucky and find a buyer willing to overlook the issues to get the best deal available. (still a massive pain, because he will probably be pissed when he finds out he has to spend $1000's just a few months after buying it.)

kosmo

Id also get a estimate from carmax as a comp vs trade in.

Gef3rd

Try placing the car on consignment with your dealer. You will get a higher price and the car will be out of the garage. My friend had an '04 turbo cab that two dealers offered him 35k for. He knew he was being low balled but his wife wanted the car out of the garage. Dealer listed it for 54K and my friend netted 45K after 3-4 months.

ATXGT3

Doing this he will not be able to get the tax credit if not sold before new car paperwork is complete.

Problem is most dealers will not want to keep a 35k mile M car on their lot--it's a wholesale unit to them.

Just dump it for the highest price you can get and move on...that car is not worth screwing around too much.