I tried to upgrade

So tried to upgrade from my current 2008 535 to a 2010 with M-sport. My car has 56K miles still under CPO with a book value about $30K...the deal fell trough once the arrogant dealer offered me $19K for my car...Im like really? $11K below book value?? I guess im keeping my lovely 2008 for now...
Anybody getting trade in offers that much lower than retail value?

I had a carbon black CPO 08 550 MSport w/ sport trans 54k miles and 13 months of CPO and I got 26500 in October.

Originally Posted by paulo6

So tried to upgrade from my current 2008 535 to a 2010 with M-sport. My car has 56K miles still under CPO with a book value about $30K...the deal fell trough once the arrogant dealer offered me $19K for my car...Im like really? $11K below book value?? I guess im keeping my lovely 2008 for now...
Anybody getting trade in offers that much lower than retail value?

They offer it because some people are dumb enough to take it...

(assuming your estimate is accurate, as stated below..)

Where did you come up with your car having a book value of $30K? I just took a quick look at KBB, and without knowing your options, came up with a trade in value of between 16 and 19K depending on condition. No way options are going to add >10K to that value. As another gauge, take a look at the BMW Pre-owned website, and see what they are asking retail for cars like yours. I know there are a bunch of pretty nicely loaded 2008 550's for under $30K, some quite a bit under. I'm thinking $30K for your car might be just a bit high.

Originally Posted by Campfamily

Where did you come up with your car having a book value of $30K? I just took a quick look at KBB, and without knowing your options, came up with a trade in value of between 16 and 19K depending on condition. No way options are going to add >10K to that value. As another gauge, take a look at the BMW Pre-owned website, and see what they are asking retail for cars like yours. I know there are a bunch of pretty nicely loaded 2008 550's for under $30K, some quite a bit under. I'm thinking $30K for your car might be just a bit high.

I said RETAIL value and not trade it...but even so, a 2008 CPO 535xi with the options I have will be listed for no less than $29,999 at dealer (again listed asking price per research and CPO kbb). Yes trade in is lower, but it shouldnt be $11K lower than retail...especially if I plan to buy another car from them that they will make money on.

Dealers don't care about blue book- thier excuse" bluebook does not buy your car, we do blah blah blah
Dealers don't care if your trade in is the same brand as thiers -your bmw to a bmw dealer.
Dealers job is to ripoff the customer as much as they can. Tell me when was the last dealership that gave you a good deal -really.

Im relating to trade in buys. Its best to walk in with an empty hand and buy a car without any trade.

Try carmax and compare with your current offer. Even better, sell the car on your own and buy your M-Sport from a private party. Checkout penfed if you need a loan and consider buying out of state too. This is what I have done and it has actually been very satisfying and fun!

While my car was at the stealership for it's last warranty visit, a salesman called and offered me basically the exact deal as the OP described. Ridiculous IMHO. I told him if he wanted to offer a more reasonable deal to call me back. I never heard from him again.

Carmax will impregnate you!
Sell on your own!

I see 20+ 2008 535Xi offered on Autotrader for 24K or less with your mileage or less just within 200 miles of me. Your dealers offer was not a joke or a ripoff. I just traded a 2007 530XiT with 67,000 miles on it and got 19K and thought I did market. You may be able to get the dealer up to 20K. On what planet do you think your car is 'worth' 30K?

hehe funny guy even dealer cant sale in RETAIL price forget about it

A lot of times, dealer uses Manheim, which gives them statistic on low/high/volumes/mileage disected to anyway they want (better pictures on demand trend etc for the car local/regional/national). KBB/Edmunds is just guideline, yes I can sell my car privately based on KBB/Edmunds but I have to be patient.

The best is to hang on to your car if it's not having mechanical problems.

1 month ago we took a 2005 BMW 645i convertible to carmax to see how much they would pay for it. The car has 60k miles and all the options available with a brand new set of original m6 wheels and tires and they told us $15.000

Originally Posted by GOR777

1 month ago we took a 2005 BMW 645i convertible to carmax to see how much they would pay for it. The car has 60k miles and all the options available with a brand new set of original m6 wheels and tires and they told us $15.000

KBB, Carmax, Autotrader and whatever "retail" prices are only a guide - the market in your area will determine the price you get (like real estate).

I had a perfect 2007 Infinity GX35X with 87K miles - 3 dealers offered me $8K, average "asking" price on Autotrader was $18K, I offered it at the "low end" of the price range, didn't get one call. Put it on Craig's list and the first guy who drove it gave me $14K. Dealers will usually offer auction price - they are taking a risk with any car more than a few years old.

Dealer tryin to maximize profits by selling and buying cars , who would have thought of such a thing...

Originally Posted by GOR777

1 month ago we took a 2005 BMW 645i convertible to carmax to see how much they would pay for it. The car has 60k miles and all the options available with a brand new set of original m6 wheels and tires and they told us $15.000

Another thing you have to realize is the resale market on 8 year old BMW's is not good. It is well known that BMW's are expensive to fix and maintain. Not to mention they have a huge dealer market so they have massive sales numbers to support how many and at what price they have bought/sold your car.

Originally Posted by paulo6

So tried to upgrade from my current 2008 535 to a 2010 with M-sport. My car has 56K miles still under CPO with a book value about $30K...the deal fell trough once the arrogant dealer offered me $19K for my car...Im like really? $11K below book value?? I guess im keeping my lovely 2008 for now...
Anybody getting trade in offers that much lower than retail value?

your car is worth nowhere near $30K. most people always think their cars are worth much more than they really are. my question however is why are you upgrading? your essentially trading up for the same car.. why not just get the msport body kit and keep your existing car?

I started my search for my car in October of 2011, and finally found it in February 2012. I got my 2008 535i w/ sport package with 34k miles nearby (charlotte nc area) for 30k. Before I found it, I had found that this model in the Florida, Texas, and Arizona area were going for about 5k less than around here.

I had planned on going to either Texas or Florida to buy one until i stumbled across the one I have now. My point is, the market you are in plays a big role in how much your car is worth. Your car is worth less in Florida than it would be here in Charlotte, at least that was the case 1 year ago.

The guy I bought mine from has some sort of deal with a few BMW dealers in Florida and Georgia. My car was originally a CPO for sale in Florida. After it sat for 60 days on the lot he bought it at wholesale and brought it up here. Although it was no longer CPO, it still had the CPO sticker on the windshield and the car fax showed it had been listed as a CPO just a couple months prior. I have no idea how much he bought my car for from the dealer, but obviously it was less than I paid him for it. At the time my car was on the low end of of his inventory. He pretty much makes his living by buying cars in Florida and bringing them to the Charlotte NC area and reselling them.

Originally Posted by todd92

I see 20+ 2008 535Xi offered on Autotrader for 24K or less with your mileage or less just within 200 miles of me. Your dealers offer was not a joke or a ripoff. I just traded a 2007 530XiT with 67,000 miles on it and got 19K and thought I did market. You may be able to get the dealer up to 20K. On what planet do you think your car is 'worth' 30K?

I agree. MMR (Manheim auction reports) shows you can buy your exact car in average-to- good condition for 19-22k. If they can purchase your car for about $20,000 from auction why would they give you more?

Listen it is very simple if you want to get a good price for your car the only way to do that is to sell it yourself. I used to have a 2006 e90 325i. It was fully loaded in pristine condition with 65k miles on it and had just run out of the warranty and extended maintenance. It was six years old. I sold it within 2 weeks for 16000. When I did try to trade it in they wanted to give me 11k at the BMW dealership.

Plus the best Waugh to negotiate when buying a new car is you act like you are going to finance get them to drop the price (they will try to make up that loss in the interest of the loan) then once you have the price in writing just throw down the cash and say you have already got a loan from a credit union and you will save yourself at least 3-10k if you do it right.

I bought my 2010 535i CPO in march and it only had 20k miles on it with a sticker of 46k and I got it for 38500.