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      10-20-2021, 02:18 PM   #1
2011ninja
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Trade in offer and $25k+ equity

Anyone gone through the trade in offer?

I know I have a lot of equity in the car.

Is it worth it?

I'll eventually get a G80 but not pressed to get one right now?
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      10-20-2021, 02:36 PM   #2
jeffhoyo
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Hello! I am not exactly sure what you are meaning but I am assuming you are looking to trade in your current vehicle for an M3. That is the position that I am currently in as well. From what the dealership told me and at least here in Washington State is that they base the trade in value on KBB Good condition. The used car market is at a good spot right now from what I can tell. I have also learned that you have to get financing in place to place your order with BMW and the terms will most likely change as your trade in value will depreciate with the long build times. Hope that helps :-)
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      10-20-2021, 10:05 PM   #3
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Originally Posted by jeffhoyo View Post
Hello! I am not exactly sure what you are meaning but I am assuming you are looking to trade in your current vehicle for an M3. That is the position that I am currently in as well. From what the dealership told me and at least here in Washington State is that they base the trade in value on KBB Good condition. The used car market is at a good spot right now from what I can tell. I have also learned that you have to get financing in place to place your order with BMW and the terms will most likely change as your trade in value will depreciate with the long build times. Hope that helps :-)
Yeah pretty much…

The dealer I purchased from reached out to me. They quoted a predetermined equity amount towards a new 2022 M3.

what they quoted is way more than what I owe so I have a lot of equity plus cash towards a new M3. I've never leased so I don't know that process or the benefits at all.

I drive less so maybe a lease would work; I'm not sure.

I don't like to think about mileage, buyout etc.

Anyway; it's sort of tempting.

I'm going to go through the process and see what the numbers are.
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      10-20-2021, 10:20 PM   #4
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Probably best to hold onto your car

https://jalopnik.com/the-car-shortag...rse-1847892481
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      10-21-2021, 12:22 AM   #5
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Originally Posted by beachBmmr View Post
Probably best to hold onto your car

https://jalopnik.com/the-car-shortag...rse-1847892481
That is a crazy development. Just glad I opted to pay $2K over sticker for my car instead of waiting for an order at MSRP a few months ago. Between inflation, stop sales and shortages of everything it is starting to feel like I got a bargain.
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      10-21-2021, 07:11 AM   #6
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Get an offer from Carvana and/or Vroom and/or Carmax before you go any further. What you owe has nothing to do with what the car is worth.

As for the G80: yes!
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      10-21-2021, 07:25 AM   #7
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Quote:
Originally Posted by LuvMyE92 View Post
Get an offer from Carvana and/or Vroom and/or Carmax before you go any further. What you owe has nothing to do with what the car is worth.

As for the G80: yes!
As of the first of October 3rd party dealers are not allowed to buy out leases anymore. Theres still some ways around it though. The wholesale dealer I sold my 18 M3 comp has a dealer that he works with to assist in buying the cars out. I was able to recoup $20k of my lease. My buy out was $44.5k. He gave me $64.5k for the car. And since he bought it out I did not have to pay the tax on the buyout amount.

I only had 3700 miles. My plan was to buy it out and keep it but I instead decided on ordering a G80. I got lucky and went through a broker in march and got 5.6% off msrp + $500 loyalty.
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      10-21-2021, 07:25 AM   #8
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Do it.

Second hand car prices will not defy the laws of gravity for ever.

Great time to extract equity from your car and get a new one at MSRP with fresh warranty etc
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      10-21-2021, 08:15 AM   #9
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Quote:
Originally Posted by 2011ninja View Post
Yeah pretty much…

The dealer I purchased from reached out to me. They quoted a predetermined equity amount towards a new 2022 M3.

what they quoted is way more than what I owe so I have a lot of equity plus cash towards a new M3. I've never leased so I don't know that process or the benefits at all.

I drive less so maybe a lease would work; I'm not sure.

I don't like to think about mileage, buyout etc.

Anyway; it's sort of tempting.

I'm going to go through the process and see what the numbers are.
we dont have enough info. why do you have a lot of equity? did you put a lot of cash down? if so, whats the point? if you do this, make sure you have a reliable car to drive for a few months to a year, as it may take that long to get a new M3
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      10-21-2021, 08:20 AM   #10
2011ninja
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Quote:
Originally Posted by omaralt View Post
Quote:
Originally Posted by 2011ninja View Post
Yeah pretty much…

The dealer I purchased from reached out to me. They quoted a predetermined equity amount towards a new 2022 M3.

what they quoted is way more than what I owe so I have a lot of equity plus cash towards a new M3. I've never leased so I don't know that process or the benefits at all.

I drive less so maybe a lease would work; I'm not sure.

I don't like to think about mileage, buyout etc.

Anyway; it's sort of tempting.

I'm going to go through the process and see what the numbers are.
we dont have enough info. why do you have a lot of equity? did you put a lot of cash down? if so, whats the point? if you do this, make sure you have a reliable car to drive for a few months to a year, as it may take that long to get a new M3
Yes

You're right

I'll keep my current car
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      10-21-2021, 08:23 AM   #11
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Quote:
Originally Posted by 2011ninja View Post
Yes

You're right

I'll keep my current car
ya if you simply put a big down payment whats the point? you're not making any money

now if you put no/little money down and you can make money on this car then you evaluate whether its worth it. but to simply recoup what you paid doesn't seem like a good idea unless you wanted to get out of the car

i just did a quick search on cars.com there are 7 new M4s with a manual for sale in the entire country. Most of those don't even have pictures, which tells me that they are sold cars already in transit. Theres one for sale for over $100k... pricing looks crazy right now, i wouldn't want to be in the market if i didnt have to be
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      10-21-2021, 08:28 AM   #12
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Quote:
Originally Posted by omaralt View Post
Quote:
Originally Posted by 2011ninja View Post
Yes

You're right

I'll keep my current car
ya if you simply put a big down payment whats the point? you're not making any money

now if you put no/little money down and you can make money on this car then you evaluate whether its worth it. but to simply recoup what you paid doesn't seem like a good idea unless you wanted to get out of the car

i just did a quick search on cars.com there are 7 new M4s with a manual for sale in the entire country. Most of those don't even have pictures, which tells me that they are sold cars already in transit. Theres one for sale for over $100k... pricing looks crazy right now, i wouldn't want to be in the market if i didnt have to be
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When it comes to making money on the car I'm not looking at that closely or at all.

I look at cars as something fun that's it.

Something fun I'm a Ram's fan
Went to Giants v.s Rams last week.
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I'm not super excited about getting a new G80 so I doubt I'll get one for at least another year.
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      10-22-2021, 12:58 PM   #13
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if you have another car to drive, sell your trade for top value and use the cash as a down payment or use it in the market/cypto and some as a down payment.

Thats what i did, sold my other car, took advantage of the crazy used car market, got top dollar on my car in cash, and driving my beater as my daily until my m3 comes in.

youll always get more on selling it than a trade in.
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      10-22-2021, 01:00 PM   #14
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Quote:
Originally Posted by weags12 View Post
if you have another car to drive, sell your trade for top value and use the cash as a down payment or use it in the market/cypto and some as a down payment.

Thats what i did, sold my other car, took advantage of the crazy used car market, got top dollar on my car in cash, and driving my beater as my daily until my m3 comes in.

youll always get more on selling it than a trade in.
I do have a beater I can drive.

I'll check carmax see what they offer
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