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Discussion Starter · #1 ·
When I purchased my 7 about 11 months ago KBB had my 04 valued about 44k. It now values it at 32k. Have these 7's really lost that much vulue? Losing a thou a month is not very good at all.:mad:
 

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yes. They have unfortunately the big bodies drop like rocks, also the falling economy doesnt help, High mileage on these cars make them worthless...:cry:
 

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Actually yes, the depreciation on this exact category of car is about the worst in the industry. In fact, KBB themselves released an article recently on why large luxury cars experience the most rapid depreciation in value.

Some reasons they cited:

*Technology changes quickly (Ipod/Aux inputs anyone) and as result what is new today is old and out of date by next year. Being that these cars are purchased presumably for their technology, this makes older ones less appealing.

*Maintenance costs for these vehicles, once again as a result of all the technology, are among the highest short of exotic sports cars. As the cars rack up miles and time, this factor only gets worse and thus reduces overall value and appeal on the secondary market.

*1bad540 hit the nail on the head about the fuel. They didn't directly cite this in the KBB article, but you can be assured that anything LARGE and V8 powered right now is taking a DUMP at the auctions.

But think of it this way. When you're ready to buy your next large luxury car you get to take advantage of someone ELSE's depreciation. Circle of life.
 

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Discussion Starter · #4 ·
Probably will plummet more after the new body style is released. If I could keep the mileage down, it seems it would be better to lease.
 

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I bought my 2002 745Li for $30k april 07 and I thought I was getting a steal. KBB was about $36k at the time - private party. Now it's 22,120 private party and 16,675 trade-in.
Still, what car could you buy for the money that is as good as a 7? Nothing.
 

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I got mines 3 weeks ago. 2005 745i with 64k. Black Fully loaded. advertised price was 34k at the local BMW dealer. My C-class I had previous I sold for 20k.
 

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true. That's why I like to pick em up at auction. I can add an extended warranty to them that basically covers them like a new car.
 

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true. That's why I like to pick em up at auction. I can add an extended warranty to them that basically covers them like a new car.
Are all the cars thats sold in an auction are lemon? or why are they end up bieng sold in ana auction?
 

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I just punched up mine as well, yep dropped 10k I picked mine up in December...:thumbdwn: Wow i thought maybe yours had high mileage, but even with very low miles the car is still in the 30's:mad:..... I guess this ones a keeper. I guess its really the gas prices and economy, really screwing everyone. I know when i bought mine all the ones with low mileage were close to 50k
 

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Sleek Sam
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At this economic time, nothing goes for blue Book values or retail values. If no one has the money to buy the vehicles, and the cars are just sitting at dealers, I think blue book values drop. I can be wrong.
 

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Are all the cars thats sold in an auction are lemon? or why are they end up bieng sold in ana auction?
"Auction" is not a bad term. Yes, it is true that some dealers turn over their crappy trades by sending those cars to auction for OTHER wholesalers to bid on, but that's not always the case.

For example, BMW, Audi, Mercedes, Ford, GM etc ALL have OFF LEASE auctions regularly where they send the vehicles that have recently ended leases. There is nothing wrong with these cars and ALOT of BIG dealers buy from the off lease auctions to put cars *BACK* in THEIR inventory when they are running low on used cars. Don't ever assume that just because you bought your BMW off the dealer lot that it was a fresh one-owner trade... alot of times the car came from the regional off-lease auction.

Likewise there are also mystery meat auctions, like Repo ones where you can find anything and everything.

Different strokes, different folks... You can find anything at the auction, depends what the dealer is willing to pay.
 

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ive learned my lesson on selling a car that is paid off for already (throwing away money) so i plan on keeping the 7 or giving it to my parents if i pick something else up...
 
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