Test drove a possible replacement car today. When we started talking numbers, the dealer checked the value of my 04 sedan w/ 62k miles on Manheim and offered me $11,200 for trade-in value. It made me a little ill to hear how far the value of the car had fallen. Good luck if you are also shopping; be prepared to take it in the shorts on trade...

 

"stealerships" do that. you have to work them.

 

I see several 05 X's with premium and 35k miles selling for $16k in the Chicago area so I'm surprised that they'd offer $11k on an '04 with 60k miles. That may actually be a good offer. Find yourself another slightly used luxury sports car and you'll be sitting pretty. Buy new and you'll likely be facing the same situation 5 years from now.

Just be thankful you didn't buy a new 2006 BMW M5 for $100k. Today you can find several of those available for less than $50k with low miles.

 

$11k for an 04 is a great deal...

 

that is an excellent offer!

 

I saw an 05x with premium yesterday with 45k for $13.5.

 

Honestly... i would take the trade in. maybe work him to 12k, but you're not going to get much more than that these days. It sucks, but it's the way it is right now

 

I just bought an 04 sedan with 72k for $10,700 so that sounds like a pretty good deal to me for a trade in.

 

I'm trying to sell 05 Sedan with 60k for $14,XXX and still no bites. I think taht's a pretty good for a 04

 

Its seems the value of our sedans has dropped a lil bit. In the Northeast it seems were are a little higher that the rest of the country. Im commited to keeping mine for a long time. I really need to get out of debt.

 

That's actually a good price at this moment, TAKE IT!

 

you'll rarely get as much as a "trade-in" as you would from private party sell... I suggest selling it and then buying another.

 

MT cuts down your audience big time.

btw, OP this is why I'm keeping my car "forever"

 

Not meeeeeeeeeeeee . Steppin into my m3 soon!! Trying to sell my 03 BS sedan with 62k for 13k privately since October. Nooo Luck. But then again I have not fully committed to the sale yet.

 

Here in the midwest the values are through the roof. To get the car most dealers are going to clean book to start. What is hurting you is the year. Its an old car in the dealers eyes. Unless its perfect it gets sold off to the highest bidder from other dealers or ends up at the auction. Some dealer with a big blow up gorilla will pay good money for it and the dealer will profit a little and be happy. Happens all the time. You may check out what other dealers in the area will offer just to buy the car. You may get a much better offer. My dad just traded a car in and the first dealer gave a trade offer 5 grand less then the dealer he bought the new one from. You wont see that kind of jump but a grand or two wont hurt. Or just keep the damn thing. Its not like your rolling a beater.