[kakaxbox]

Hello, I'm currently driving a e46 02 325i right now. I don't know if it is wise to trade it in or to keep it. Does BMW give good deals? Thanks

[diesel007]

No dealer gives good deals on trade in cars. Reason bieng they will most likely have to re-sell that car at a private auction below wholesale. I asked my dealer what they would give me for trade in on my old car and they quoted me $4,500 below what I was able to get selling it privately.

[Fenianz]

Your better off keeping it or selling it privately yourself. But if you have no time and extra cash trading your car in is always a convenient way to go. If you sell it privately check out autotrader.com

[kakaxbox]

Just did kelly blue book for trade-in. And it looks like my car is worth $17395 for trade in. I still owe $13500. Will bmw pay off my car and give me the difference? That would be great if they did.

[kakaxbox]

Originally Posted by Fenianz

Your better off keeping it or selling it privately yourself. But if you have no time and extra cash trading your car in is always a convenient way to go. If you sell it privately check out autotrader.com

Yes another question. Can I sell my car if i'm still making payment? How do I do this without the title in my hands? Thanks.

[RyBMW]

Originally Posted by kakaxbox

Just did kelly blue book for trade-in. And it looks like my car is worth $17395 for trade in. I still owe $13500. Will bmw pay off my car and give me the difference? That would be great if they did.

The dealer will pay off your car loan and refund you the rest.

The best thing to do is to go to a dealer in person to find out exactly how much they will give you for your E46. Don't get too excited and be prepared to walk out if you need to.

Originally Posted by kakaxbox

Yes another question. Can I sell my car if i'm still making payment? How do I do this without the title in my hands? Thanks.

You will have to pay off the loan first.

[kakaxbox]

Well if i have to pay off the loan then guess i'm keeping the e46 for now.

Man private selling is 20365 for my car. Thats 3 grand difference from trade in. Sucks that I have to pay off first. Anyways thanks you guys.

[RyBMW]

Originally Posted by kakaxbox

Well if i have to pay off the loan then guess i'm keeping the e46 for now.

Man private selling is 20365 for my car. Thats 3 grand difference from trade in. Sucks that I have to pay off first. Anyways thanks you guys.

What I mean is that you will have to pay off loan first in order to transfer the title and remove the lien holder. I think you can still sell it. I never sold a car privately before.

Did you get a title from the DMV even if you financed it? In NY, you get a title but with the bank as the lien holder.

[kakaxbox]

Originally Posted by RyBMW

What I mean is that you will have to pay off loan first in order to transfer the title and remove the lien holder. I think you can still sell it. I never sold a car privately before.

Did you get a title from the DMV even if you financed it? In NY, you get a title but with the bank as the lien holder.

No i don't have any title at all. Just registration. I remember my brother in law call the bank for me and they say, that they can give the title but not the real one. Would that do?

[blke90man]

I sold my e46 privately back in July instead of trading it in. Sold it in two days! I hadn't payed off the loan either. I had to get the money from the buyer and then send a certified check to BMW of North America for the amount of the pay-off in order to get the title in my hands.

You also need to go on the DMV's website and get a transfer of title form and have both parties sign it and send it in the mail. Once you get the pink slip, there is section on the back for the buyer to sign claiming he/she is now taking over ownership. They then go to the DMV to get a new pink slip in their name.

[kakaxbox]

Originally Posted by blke90man

I sold my e46 privately back in July instead of trading it in. Sold it in two days! I hadn't payed off the loan either. I had to get the money from the buyer and then send a certified check to BMW of North America for the amount of the pay-off in order to get the title in my hands.

You also need to go on the DMV's website and get a transfer of title form and have both parties sign it and send it in the mail. Once you get the pink slip, there is section on the back for the buyer to sign claiming he/she is now taking over ownership. They then go to the DMV to get a new pink slip in their name.

The buyer trust you even though you didn't have the title? Will this work for me too? I'm just afraid some people won't trust me. Cause you know ... they have to give money money first, then wait for the title.

[blke90man]

Originally Posted by kakaxbox

The buyer trust you even though you didn't have the title? Will this work for me too? I'm just afraid some people won't trust me. Cause you know ... they have to give money money first, then wait for the title.

I took the car off my insurance and let him have the car after he gave me the money...I had the pink slip mailed overnight...gave it to him about 5 days after he bought the car.

[kakaxbox]

Originally Posted by blke90man

I took the car off my insurance and let him have the car after he gave me the money...I had the pink slip mailed overnight...gave it to him about 5 days after he bought the car.

Thanks for your advice. I really appreciate it. I'm now planning to sell the car after I get back from Las Vegas this New Year.

[Brian]

Originally Posted by kakaxbox

The buyer trust you even though you didn't have the title? Will this work for me too? I'm just afraid some people won't trust me. Cause you know ... they have to give money money first, then wait for the title.

I've done this a number of times and it is fine. Have two copies of a well-written bill of sale and have you, the other guy, and a witness sign both. State in the bill of sale that the title is to be delivered to the new owner within 10 days or whatever (it shouldn't cost more than $30 or $40 to deliver via overnight mail if the person is not nearby).

When he gives you the check and you give him the keys it becomes a legally binding contract. The bill of sale puts it in writing. If either party doesn't follow through it is easy enough to go to court and make them.

[new0rder]

I paid around $9500 for my trade in 2005 325xi

[Yaajer]

Sell it privately first. Then get your e90.

[kakaxbox]

Originally Posted by Brian

I've done this a number of times and it is fine. Have two copies of a well-written bill of sale and have you, the other guy, and a witness sign both. State in the bill of sale that the title is to be delivered to the new owner within 10 days or whatever (it shouldn't cost more than $30 or $40 to deliver via overnight mail if the person is not nearby).

When he gives you the check and you give him the keys it becomes a legally binding contract. The bill of sale puts it in writing. If either party doesn't follow through it is easy enough to go to court and make them.

Okay I understand, but where do I get the "well written bill"?? I have to write one myself is that correct?

[lxapilot118]

Originally Posted by RyBMW

You will have to pay off the loan first.

No, you don't have to pay off the loan first. I've done that same thing. The dealer issues a check to your bank, who sends the title to the dealer.

Amount you get for trade depends on the dealer. My aunt tried to trade her '03 5er and was offered something way too low. She found a dealer about 2 hours from her who gave her wholesale.

[kakaxbox]

Hey whats a screen title good for in this situation? (Selling to private party that is).

[RyBMW]

Originally Posted by lxapilot118

No, you don't have to pay off the loan first. I've done that same thing. The dealer issues a check to your bank, who sends the title to the dealer.

Amount you get for trade depends on the dealer. My aunt tried to trade her '03 5er and was offered something way too low. She found a dealer about 2 hours from her who gave her wholesale.

Apparently you didn't read my post clearly. If you sell it privately you would have to pay off the loan first. If you trade-in, it's different. My reply "You will have to pay off the loan first." was directed at kakaxbox's question about selling, not trading.
When trading in a car, it's different for every state. In NY, you would have to be in possession of the title with the bank as the lien holder. The NYS DMV mails you a title even if you financed.

Wholesale price offered for a trade-in is considered low.

[lxapilot118]

Yep misread. What I was trying to say about the wholesale was that searching quite a few dealers, the absolute best deal she could find was wholesale.

[kakaxbox]

Originally Posted by RyBMW

Apparently you didn't read my post clearly. If you sell it privately you would have to pay off the loan first. If you trade-in, it's different. My reply "You will have to pay off the loan first." was directed at kakaxbox's question about selling, not trading.
When trading in a car, it's different for every state. In NY, you would have to be in possession of the title with the bank as the lien holder. The NYS DMV mails you a title even if you financed.

Wholesale price offered for a trade-in is considered low.

Thats interesting because I called my bank and they are going to send me a "screen title". Can you tell me what you can do with a screen title?

sorry for the misunderstanding. I'm talking about a title with lien holder on it.