10-20-2021, 02:18 PM | #1 |
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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? |
10-20-2021, 02:36 PM | #2 |
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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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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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10-21-2021, 12:22 AM | #5 | |
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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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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, 08:15 AM | #9 | |
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10-21-2021, 08:20 AM | #10 | ||
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You're right I'll keep my current car |
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10-21-2021, 08:23 AM | #11 |
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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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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. $7 for cheese fries $6 for hot dog $5 for small Pepsi 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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I'll check carmax see what they offer |
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