12-09-2021, 04:25 PM | #1 | |
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F22 —> G80 soon!
Getting close… the M3Cx is 1-2 weeks away, on a train.
I posted this over in the F22 Canada forum, but thought I'd seek some more diverse opinions: I am selling or trading in my Estoril blue F22 (MY17 M240i xDrive), and got a disappointing trade-in quote. My car is in great shape, some MPerf parts (front splitter, rear spoiler, side sills), BMW OEM summer and winter wheel/tire sets. A bit over 53k KMs. Anyone have insight into current value in Canada?
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12-09-2021, 06:13 PM | #2 | |
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yep, I got a pretty bad trade-in quote as well. Approx 5k less than I really anticipated them offering. Even being realistic about my car ('14, 105km, 6MT), it was still pretty damn low. the only insight I can give is from others I know who've purchased recently with other brands and they have all been given smokin' offers on trucks, etc. Maybe it's a BMW thing? |
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12-09-2021, 06:38 PM | #3 | |||
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12-10-2021, 09:18 AM | #4 | |
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I've put out some feelers to a few people and may sell mine privately, but I don't want to deal with tire kickers so I'm not formally listing it. If I sell it and make ~5k more than the dealer's offer then that will pay for the winter set. Otherwise I'll chalk up the dealer offer as a loss due to convenience of not worrying about it anymore |
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12-10-2021, 07:58 PM | #5 | |||
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(trade-in value) + (tax reduction) + (personal cost) The trade-in value is subtracted from vehicle purchase price, and you pay tax on the rest as I understand it. That tax reduction is money you don't pay, so effectively the invisible part of the trade-in offer. It is 15% in tax in BC for this car. How much you value your time and energy is the last piece. That makes the gap between trade-in and at least one comment I've seen on these forums ("you can get $40k for it") less than $10k. I did have someone interested in it in the summer, but probably not at crazy used market prices. I can't find his business card (remember those? )… yet. Somewhere in my damn office.
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12-10-2021, 08:48 PM | #6 |
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I think you should post it up for a price that’s consistent with your personal cost and see what happens!
Nothing to lose. For the most part, I’ve found that if I post a car for maybe $2-3k over the trade-in + tax savings, I usually sell my cars pretty quick. If it doesn’t sell you can always trade it in. The trade-in offer I got for my truck (‘19 Ram 3500 diesel) was actually pretty strong. I’d estimate it at around what I could get for it privately with the 15% tax savings factored in. If the trade in is still strong by the time the M3 comes in I’ll probably go for it. |
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12-11-2021, 12:30 PM | #7 |
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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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12-12-2021, 12:15 AM | #8 |
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Stop trading in your cars. Just sell it privately. You can't be disappointed by the dealer ripping you off if you're too scared/lazy to sell it privately.
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12-16-2021, 12:47 PM | #10 | |
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It just arrived at my dealership and is getting prepped. I don't know exactly went it arrived in Halifax, and getting to the west coast was partly delayed by the "atmospheric river" storms that cut lower mainland BC off from the rest of the country to the east.
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12-17-2021, 03:18 PM | #11 | |
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I've decided to share the teaser photos my dealership sent me, and will use a new thread for official delivery and first impressions.
Without further ado, I present my pre-inspection M3 Competition xDrive in Santorini blue paint with the Fjord blue/black interior, rolling on black 826M wrapped in Michelin PS4S* tires in the warm months (black 829M wrapped in Michelin Pilot Alpin 5* when its cold). I know the interior will bother some people for reasons they should probably seek therapy for. I don't care. This car is blue, black, and carbon whenever possible.
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12-18-2021, 03:22 PM | #12 | |
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01-12-2022, 08:40 AM | #13 | |
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Hope to help others with similar inquiry I had F30 340xi with options (Enhanced prem, M-Prer lip, sport M Perf I & II) with low (20k) KMs on lease. Car was in prefect condition. I did research online like auto trader and black book, value was higher than my lease buy back. So I took the risk and bought the car around a month before my G80 arrived. Sold it on the auction (my bro is a dealer). Made a profit around $8G. I even listed on FB market place and had lots of buyer interested.. Auction was easier so sold it there. Hope this helps.
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01-12-2022, 08:52 AM | #14 | |
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