Hey everyone it's been a while since I posted here and this is a farewell to everyone. I am trading in my '03 Coupe for '05 M3. The car actually made landfall from Germany today and I should pick it up later this week. I am trading in my Coupe but I don't exactly know how trade-ins work since this is my first time. I already got an estimate from the dealer and we signed the initial paperwork for the trade in. BMW told me they will give me 23,000 for my Coupe. The car is in perfect condition but I have a bunch of work done to it. BMW knows I have the work done to it and that is all included in the amount they offered me. The only thing I am worried about is that I removed the cats and put test pipes on the car. I still have the stock cats but I don't know if BMW will hit me for not having cats and try to give me less money. Has anyone had experience with trade-ins and how it works or what the dealer does when they are actually taking the old car in. i appreciate any advice.

 

They already inspected the vehicle right? Anyway....Trying not to get thrown under the bus on you tradee-in is the hard part. How much do you owe on you vehicle or is it paid in full? I know its an 03 but I thought its value should be around 25-27k.

 

Dealers always offer less on trade-ins

 

Look, they are going to put it on their lot for 30k-32k... DOn't let them make 5-10grand on your car. tell them you need at LEAST 27. They are making up to 3k on the car you are buying and then another 3k on your car and that is 6 grand on your deal alone.... and people can buy new for 1000 over invoice? so they are will ing to make 1000 on each car... don't let them take you for a ride, they don't need to make anymore than 3k on a trade, even if they are claiming they need to put a bunch into it. If they won't give you what its worth, take all the aftermarket stuff off of it and sell it here to make up the difference.

 

Congrats on the M3 man, but don't take a hosing on the Coupe. SEll it privately for much more.
Good luck and let us know how it goes.
C.

 

$23K????????????????

WOW

I have 13,900 miles on my '03 6mt and I would have thought $27K would have been a good number.

That's a bit low if you ask me.

 

It is well worth the effort to sell it privately, but sounds like it may be too late?

 

Be prepared to take a hit. It all depends on a dealer. When I was gettin my G, different dealers quoted me different prices on my 01 Max. One signed a contract to give me 12grand, the other 11.5 but both did not get me the G I wanted. And when I finally found my G, I only got 9,750 for the max. I would have gotten more privately but the wait, the payments, the advertising fee, and risk of not selling it is not worth the $2,000. and when you trade in, remember about the difference in tax savings. On 23,000 car, that's about 3,000 in tax difference, so at the end you're about the same, and no worries that the guy who buys your G is gonna come after you if he finds something wrong. That's just my POV.
Oh, and I did take off as much as I could so dealer won't realize what was on and what wasn't, and I made up almost another thousand and parts.

 

They prally offered you less becasue they know that their mechanics are gonna have to restore your car to "stock" condition to sell it on there lot....plus, its a BMW dealership...they always offer low trades on anything "not German"...its just how they operate.

Do the best you can to not get completely screwed, but face it, your gonna loose money...bottom line. That sucks. What doesnt suck is that your gonna drive away in an 2005 M3 - that frigggggin RULES!!!!

 

http://www.edmunds.com/advice/buying...2/article.html

It's long, but damn is it revealing.

 

i would trade my g for a brand new M3 anyday..,......

 

Yeah, but would you take a huge hit on your trade-in for it?

 

You are gettin raped my man. That car will be sold for 32 at most...look at the gap, plus the hit you will take for the M3 since you are "trading in" is going to suck....they will claim that they arent too felxible with the financing since they gave you a good rate on the trade in. Bust out with Kelly Blue book, the price in there is how much a dealer will be selling your car after he restores it/cleans it up. During my trade in, a mechanic only test drove it to make sure it was ok, they didn't do any hardcore inspections, So don't trip about the cats, I doubt they will look under there...

My suggestion is, keep the G, get the M3. Sell the G privately. You will make atleast 5,000 more that could be well spent towrds the M. Then once you have the 27-29,000, go the BMW dealer, and pay him that much and your residual will go down. The only down side is you'll have $1,000 or more payments a month till you sell the car.

 

There really is no good advice to give you on trading.....other than don't...

If the dealer can't spank you for at least $4-$6k....it is not worth it for him to do the deal.

 

Dude,

Sell your car privately!!! I did and I got 33K for my 2003 6MT with 40K miles. Then I bought an 2003 M3 vert with everything and 30K miles for 38K (plus CPO and maintenence). I even have 19" MAYA STMs on it. Take your time b/c it will pay off.