TheInfamousDrew

Year: 2015
Make: BMW
Model: M4
Mileage (numbers only please): 10300
Color: Mineral Grey Metallic
VIN: WBS3R9C57FF708968
Price (no $ sign please): $0
Private or Dealer Listing: Private Listing
Location (Region): SouthEast
Body Style: Coupe
Transmission Type: PDK
2 or 4 Wheel Drive?: 2 Wheel Drive
Engine Type: Fuel Injection
Stereo System: AM-FM CD

Thanks for the suggestion.
I've tried CarMax and they offered about $5k less than my dealer.

goin2drt

Same experience here. My local carmax is AWFUL. I have given them 3 chances and every time the dealer was better. They are greedy ******.

Spyerx

Posted in Nov, it's not March "must sell ASAP" guess not... In the meantime its probably lost another $5k in real value. If you want to move a car fast you have to price it as such.

TheInfamousDrew

KBB on the car is still at $70k and NADA is $68k.
It hasn't been driven since I listed the car so I'm not sure how it would have lost another $5k. If anything it should start going back up a little due to the onset of Spring.

Yes I needed to sell it ASAP due to a major life event (read blood sucking ex).
With each month that passed, I paid the loan down a bit, thus the lowering of the price each month.

At this point, I owe over $5k more than the dealer is giving me for the car. I like anyone else, was trying to minimize the loss on the car.


Thanks for your input.
Drew

DakarM5

Your car is deprecating as all new cars do. Maybe not at $1000 a month but it is pretty close. And no, the value is not going up since its spring. The value is going down with each passing month. Your best option is to come out of pocket the 5k and sell the car. Get a personal loan from a bank for the 5k if you don't have it. Otherwise you will lose more money on a car that isn't being driven.

porscheandy

This is unfortunately true. It's depreciating. Trade it in and roll the negative equity into a more affordable vehicle.

TheInfamousDrew

I own 5 vehicles, no need to roll the in to another one.
Just taking the loss and paying the difference.

redmonkey928

Why not sell a different one with more equity in it?

Keep this, drive it, pay down further, and sell when amount owed is less than selling price. That mitigates the 5k out of pocket loss you are looking at currently.

Fyi, nice looking car and been thinking of scratching the itch!

Spyerx

In this situation, especially with a BMW which they all depreciate like falling rocks regardless of what NADA or KBB say (you need to look at wholesale auctions on volume vehicles like this) your best solution:

"Cut your losses"

Take the dealer offer, get out of it, stop paying insurance, interest, payments, and depreciation on it.

TheInfamousDrew

I wish it were that simple. Without going in to many details, I'm going through a divorce and this is the best option.

I agree, however Manheim prices are all over the map on this car.
There's no rhyme or reason to it.

bigskyGT3

Hang in there Drew, hope it all works out. Beautiful color on the M.