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I'm sure you've Already checked auto trader but this is the range quoted.
When I traded in my S5 in September the dealer put it on traderev, an auction app for wholesalers across North America I believe. The highest bid was much more than I thought it would be. There may be a sense because you've already got a car incoming that you're caught between a rock and a hard place giving leverage to the dealer on a trade-in price.
Another pathway that I took as I brought my car to a few reputable used car dealers around my house and they gave quotes that were reasonable but were still a couple thousand less than the highest bid on traderev.
Dealers have to pay to list on trade rev and buyers have to pay to access traderev so I'm not sure if your dealer uses it or not but many in the greater Toronto area do use this.
Either way if the quote they're giving you is way outside the AutoTrader range I would explore different options.
As well if you find a used car dealer that's willing to pay more than your BMW dealer you may be able to do what's called a courtesy trade between dealers where there's just an admin fee that's paid but you can still access the tax savings as a used car dealer would essentially just be purchasing the car through your dealer at the price you agreed to with the used car dealer. Again depending on your dealership they know that they have leverage so they may not agree to this.
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