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I recently thought about selling or trading my GTS Coupe based on the current Trade In Values I saw on KBB ranging from 95K - 101K.
The MSRP of my car was 133K and it was purchased new for 122K. I felt if I got 100K after 19 Months And 20,000 Miles, it would be a good deal, particularly since I shared this car with my dad and he chipped in 5K, my net cost was $117k. Even the low end of KBB would be a good deal on a trade to offset the tax difference.
As of this past Friday and Saturday:
CarMax Offer = 81K
BMW Dealer against trade for X1 = "Mid 80's"
I was expecting KBB values and completely shocked at the values that they came back with.
Especially with all the talk about the GTS being special.
I ended up leasing the X1 and just keeping the GTS for now at least for the spring and summer and then reevaluate the market.
Anyone with similar experiences?
Anyone know the current auction values?
That was the lowest lowball number I have seen especially since I see these at asking prices around $110+ online.
Haven't been looking lately, but last time I ran it by my dealer about 6 months ago he pretty much came up near KBB price.
I would say couple things to think about.....
What options do you have? ($133K MSRP is a bit on the low to middle range for a GTS) What year?....'15 or '16?
Mileage hurts these cars very much and will have a lot to do with the trade-in,...if you have 20K that is getting up there a bit. Most are weekend cars.
You wanted to trade in on an X1? The BMW dealer won't really care that much about the NA GTS, he doesn't know the diff and you are trading a much higher priced car for a lower one. Not much incentive to offer more IMO.
Same for CarMax,....they don't really know what they have and since you weren't buying a car from them, why not low ball you.
Not the time of year for sports cars to begin with,...as you found out.
Really, to get the most trade-in price on a Porsche/GTS the Porsche dealer will normally be the best,....they would know what they have, know how to market it and certify it with a warranty and get the most out of it,....and also get some money on the new deal.
IMHO, 100k with 20k miles even for a GTS was optimistic, but their offers were also dramatically low. But they weren't Porsche dealers and probably don't really know the GTS market as opposed to other P-cars. At a Porsche dealer I would have expected their offer to be about 15% under whatever you are seeing the comparable cars with the same year and similar miles trading at.
I know GTS values should be dramatically better than a C4S, but I was curious to see where KBB placed my recent C4S trade since it provides a data point for you as to the reliability of the KBB trade. The value on the KBB gauge was within $1200 of the trade I got (and I got a similar quote from a second dealer and a much lower one from a third), so I'd guess they've gotten better at estimating 911 values than they used to. Like I stated earlier regarding 15%, I see that the dealer now selling my prior car has it listed at 15.5% more than I traded it in for.
Every dealer wants to steal your car. Pure profit for them. That said, even a fair dealer is paying you WHOLESALE for your trade. If this doesn' sit right with you (and I don't blame you) then try to advertise your car on several different sites (including forums) that specialize in this type of car. It seems that I always do better selling a car when I don't really HAVE to sell it.
dealers are obviously gonna try to maximize profit... But for your reference, end of last year quite a few GTSs were around with under 5k miles and sold around 110 - 115. We still have one with 6k miles at local dealer going for 113. 20k miles probably much closer to the 100k range, and obviously the dealer needs to make some money off of that so im not surprised they are offering 80-90k for the car.
Thanks to everyone for your thoughts:
1) The GTS is 2016. Options Attached.
2) I ordered the X1 in December and was going to pick it up. After seeing the KBB value around 100K, I thought I would easily be able to get this amount or at least upper 90's. Especially since I got the GTS when I traded a 2015 C2S with MSRP of 110K and got 83K after 16 months and 15,000 miles (i.e. 75% of MSRP) originally purchased new for $103K.
3) Car-Max value on the Current 2016 GTS was 60% of MSRP, which I find absolutely ridiculous. I went there because I wanted to see the rate before I brought it up at the dealership the following day.
4) The trade was an after thought idea, thinking that my cost would have basically been about $1000/month to drive a GTS plus about a $4K Tax savings if I opted to purchase the new car. But obviously I was completely wrong about that.
5) Thanks for the auction prices on the 2015 GTS. That seams reasonable and I would think 2016 should be even better.
Besides what everyone else has said about PP vs dealer, bid vs ask prices, etc., honestly it's not an amazing build. Some critiques:
Black on black: super common, hot in the summer and depressing in the winter, and boring
PSP: people often pay to have it removed
PDK: costs more but much more common, so the rarer manuals resale for more
Glass sunroof: more weight, higher CG, makes car look weird
Carbon Fiber: overdone and not amazing looking (to be fair neither is the stock fake aluminum)
ParkAssist: Nobody likes the ugly warts
Another maybe even more important thing to remember is KBB has a standard formula to apply to mileage depreciation that's developed for average cars like Camrys and Golfs. Porsches, and exotics to an even larger extent depreciate much more based on mileage.
A dealer can probably turn around and sell that car for 100k and sure, you could probably get 90k or more out of a private party. But they have to make a profit when you sell it to them.
02-06-2018, 06:45 PM
Latest GTS Trade In Value Is Shocking!
