Welcome to Bimmerfest -- The #1 Online Community for BMW related information! Please enjoy the discussion forums below and share your experiences with the 200,000 current, new and past BMW owners. The forums are broken out by car model and into other special interest sections such as BMW European Delivery and a special forum to voice your questions to the many BMW dealers on the site to assist our members!

Please follow the links below to help get you started!

Go Back   Bimmerfest - BMW Forums > The Best of Bimmerfest! > Ask-A-Dealer

Ask-A-Dealer
Talk to our team of BMW Client Advisors. Get all of your buying/financing/leasing questions answered here!

Reply
 
Thread Tools Display Modes
  #1  
Old 07-07-2004, 03:23 PM
HDClown HDClown is offline
Officially Welcomed to the 'Fest
Location: Orlando, FL
 
Join Date: Oct 2003
Posts: 42
Mein Auto: 2003 M3
What is a fair price correction for every 10k miles on a used car?

I'm looking at 2 cars, both 03's with near identical options . I know what the full retail difference in the cost of the options is, but I'm trying to get a fair price correction for the miles.

One car as 7k miles, the other 16,500k miles. Almost 10k mile difference. So the car with more miles should have X amount of price correction to reduce the price releative to the price of the car with lower miles, or vice versa, the car with lower miles gets a positive price correction against the asking price of the cheaper car.

I'm trying to arm myself to get the dealer iwth the lower miles car to come down with a realistic price. The difference in options is $1000 full retail, other then that, the only difference is the miles.

The dealer with the lower mileage car has his priced $10,000 above the price of the newly reduce price of the higher miles car. $54,900 vs $44,900. The original price of the lower miles car was $47,900, so there's still a $7,000 mile difference.

I'm thinking a 10k mile correction allowance of $2000 is certainly fair, if that much?
Reply With Quote
Advertisement
  #2  
Old 07-07-2004, 05:04 PM
CS CS is offline
Registered User
Location: Houston
 
Join Date: Jul 2004
Posts: 11
Mein Auto: '04 330i ZHP
Hey... Get back to AWOT

Unless it's a total coincedence that you drive an Audi and have the same screen name on both forums. Man, wait till those guys hear about this.
Reply With Quote
  #3  
Old 07-07-2004, 05:06 PM
HDClown HDClown is offline
Officially Welcomed to the 'Fest
Location: Orlando, FL
 
Join Date: Oct 2003
Posts: 42
Mein Auto: 2003 M3
Which forum you talking about? Audiworld? Roadfly? I havn't posted this particular question anywhere else and don't plan to. I'm looking for some salesman from dealers insight.
Reply With Quote
  #4  
Old 07-07-2004, 05:17 PM
CS CS is offline
Registered User
Location: Houston
 
Join Date: Jul 2004
Posts: 11
Mein Auto: '04 330i ZHP
Yeah Audiworld. I was just messing with you since I remembered seeing your screen name over there. The Audiworld guys love to give people a hard time about buying a BMW. After re-reading you initial post, I see you didn't even indicate you were looking for a BMW. Anyhow, my guess would be between .15 and .25 per mile so I'd say your $2000 figure should be pretty close to the actual depreciaiton on the extra 10000 miles. Depending on how long you plan to keep the car and how valuable the existing factory warranty is to you, the miles may be more valuable.
Reply With Quote
  #5  
Old 07-07-2004, 05:19 PM
HDClown HDClown is offline
Officially Welcomed to the 'Fest
Location: Orlando, FL
 
Join Date: Oct 2003
Posts: 42
Mein Auto: 2003 M3
Quote:
Originally Posted by CS
Yeah Audiworld. I was just messing with you since I remembered seeing your screen name over there. The Audiworld guys love to give people a hard time about buying a BMW. After re-reading you initial post, I see you didn't even indicate you were looking for a BMW. Anyhow, my guess would be between .15 and .25 per mile so I'd say your $2000 figure should be pretty close to the actual depreciaiton on the extra 10000 miles. Depending on how long you plan to keep the car and how valuable the existing factory warranty it to you, the miles may be more valuable.
Whats your AW name? Yea, I'm looking at BMW, I've found 2 M3's, which I was referring to above. The one I really want has a ridiculous price and hasn't sold in over 4 months, so it's obvious it's ridiculous. I found a car today that I can throw at them for ammo. I'm also considerin an 02 M5, which is almost near identical money.
Reply With Quote
  #6  
Old 07-07-2004, 05:33 PM
SARAFIL's Avatar
SARAFIL SARAFIL is offline
I know a thing or two...
Location: Boston, MA
 
Join Date: Feb 2003
Posts: 7,406
Mein Auto: '11 BMW 335xi
Quote:
Originally Posted by HDClown
I'm thinking a 10k mile correction allowance of $2000 is certainly fair, if that much?
That's just it! There is no exact number. Books like NADA publish a "Adjustment Chart" that show pretty consistend adds/deducts for mileage, yet in the real world, it's not like that.

People that study auction sales data have shown that different cars are hit differently for mileage and other criteria. That's why it's not always useful to use the "free" sites as guides, because they don't adjust for these irregularities.

So, in order to get a realistic answer, what model are you looking at?
Reply With Quote
  #7  
Old 07-07-2004, 05:40 PM
CS CS is offline
Registered User
Location: Houston
 
Join Date: Jul 2004
Posts: 11
Mein Auto: '04 330i ZHP
FWD_Chris (forrmerly Quattro_Chris) and hopefully soon to be RWD_Chris as I too am in the market for a BMW. I'm looking at the 330i ZHP. Unfortunately the buying experience has been horrid so far. I'm close to giving up on the idea all together. I've never seen dealers play so many games. I'd love to get an M3, but 2 doors is very impractical at this point in my life. The M5 would me my choice out of that group, but any of these cars out of warranty isn't too appealing. Are any of these CPO? $55K sounds way high for a used M3 and even $45K sounds high unless these have every possible option. BMW salesmen like to sell you on the idea of high resale value, but in reality the cars are a tad overpriced in the first place and evertime you see a relatively new used on, they are asking an outrageous amount, but they will never get it.
Reply With Quote
  #8  
Old 07-07-2004, 05:52 PM
bren's Avatar
bren bren is offline
///Mpty pockets
Location: MD
 
Join Date: Jul 2002
Posts: 1,963
Mein Auto: wankermatic
How do you feel about blue?

http://www.bimmerfest.com/forums/sho...10&postcount=1
Reply With Quote
  #9  
Old 07-07-2004, 09:33 PM
HDClown HDClown is offline
Officially Welcomed to the 'Fest
Location: Orlando, FL
 
Join Date: Oct 2003
Posts: 42
Mein Auto: 2003 M3
Bren,

I saw that one. The cars I was speaking at before are both 2003 Mystic/Gray. One has SMG, Nav, Premium, Xenon, PDC, Alum Trim, Cold Weather and 16,500 miles. Asking $44,900.

The other is an 03.5 with SMV, Nav,Premium, Xenon, PDC, Alum, Cold Weather, HK, and Lumbar, with 7000 miles. The buy it now is $54.900

Now the option difference $1175. There's a $10,000 cash difference i nthe 2 cars with the only difference being $1175 in retail options and 10k miles. That's not worth $10k, no way in hell.

Look at the Nalley car listed. Original MSRP price wise, it's nearly identical to both cars above, with 900 miles, for $51,900. Compared to the 03.5 I mention above, it's < $500 difference in options. yet that one dealler wants $54,900? I think they are "willing to let it go for $52,900". But that's STILL hugh when you look at this Nalley car.

I offered them 49k, which considering the Nalley car, and the 03.0 I mention above, is a fair price IMO.

This 03.5 that they want too much money for happens to be perfect for what I want. The nalley car lacks NAV and lumbar (unless adrian forgot to list lumbar), and the 03.0 above lacks HK and lumbar.

When it comes down to it, they're all so similar, price is going to be an issue. Most of the options are traodeoff when it comes to price.
Reply With Quote
  #10  
Old 07-07-2004, 09:35 PM
HDClown HDClown is offline
Officially Welcomed to the 'Fest
Location: Orlando, FL
 
Join Date: Oct 2003
Posts: 42
Mein Auto: 2003 M3
Quote:
Originally Posted by CS
FWD_Chris (forrmerly Quattro_Chris) and hopefully soon to be RWD_Chris as I too am in the market for a BMW. I'm looking at the 330i ZHP. Unfortunately the buying experience has been horrid so far. I'm close to giving up on the idea all together. I've never seen dealers play so many games. I'd love to get an M3, but 2 doors is very impractical at this point in my life. The M5 would me my choice out of that group, but any of these cars out of warranty isn't too appealing. Are any of these CPO? $55K sounds way high for a used M3 and even $45K sounds high unless these have every possible option. BMW salesmen like to sell you on the idea of high resale value, but in reality the cars are a tad overpriced in the first place and evertime you see a relatively new used on, they are asking an outrageous amount, but they will never get it.
$55k is WAY overpriced . It should be max $50k. An 03 M3 with almost all options is a $45-50k car.

I can get an 02 M5 with all the extra options except M-Bass for $50.700. It's only 25k miles so still 25k miles more warranty, 11k more on service (could be extended) and around 2 more years of the original warranty. That's a pretty good deal for $75k+ car.
Reply With Quote
  #11  
Old 07-08-2004, 01:56 PM
CS CS is offline
Registered User
Location: Houston
 
Join Date: Jul 2004
Posts: 11
Mein Auto: '04 330i ZHP
I'd go with the M5 unless you plan on tracking it then. Even if you do track it, the M5 would be plenty o' fun.
Reply With Quote
Reply

Bookmarks


Forum Navigation
Go Back   Bimmerfest - BMW Forums > The Best of Bimmerfest! > Ask-A-Dealer
Today's Posts Search
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



Forum Jump


All times are GMT -7. The time now is 04:07 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms