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BMW 3-Series (E90 E92) Forum > BIMMERPOST Universal Forums > General BMW News and Cars Discussion > Trade-in vs. Private sell



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      11-02-2013, 09:02 PM   #23
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interesting...all the other dealers have given me a low ball price...only the dealership that knows I "may" be interested in the X5 has given a price at least $5k above the rest!!!
Does that tell me something?
i still want to be able to negotiate the X5 price...
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      11-03-2013, 03:32 PM   #24
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Sell it privately using Craig's List or Autotrader, etc. Yesterday I sold my wife's really nice 2008 MB GL 320; I was offered between $20K-$22K from two local Jeep dealers as we have ordered her a new GC EcoDiesel. I sold it for $29,250 on Autotrader, after agreeing to invoice pricing on the ordered car. Even though I lost the 8.5% trade-in tax advantage we still came out so much better. Hence I would always negotiate the best price on the new car and then sell your trade privately, IF it's an option for you. BTW, it's really easy to do on both of the above websites.
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      11-03-2013, 05:48 PM   #25
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Quote:
Originally Posted by Shaw View Post
so the price you offer on Kijiji...is it including taxes or the buyer pays that tax?
What I offered is what what I want in my pocket, which I did not get, of course. I listed higher than my rock bottom price. Everything is negotiable. The buyer pays the tax based on the the selling price that you stated in the used vehicle information package when you close the deal.

You might also want to get a car proof ready to show potential buyers. I also showed them all the maintenance records that I kept.
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      11-03-2013, 05:51 PM   #26
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Originally Posted by Twix View Post
There is no tax on private sales.
In Ontario, there is.
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      11-03-2013, 05:52 PM   #27
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Quote:
Originally Posted by Shaw View Post
interesting...all the other dealers have given me a low ball price...only the dealership that knows I "may" be interested in the X5 has given a price at least $5k above the rest!!!
Does that tell me something?
i still want to be able to negotiate the X5 price...
It is the game they play. Pay you more for the trade but give you less discount off MSRP.
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      11-03-2013, 06:24 PM   #28
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Quote:
Originally Posted by chumley View Post
I said it another thread - Worry about the trade difference, not the amount they say they're giving you. Figure out a fair price for their car, yours and determine the difference you're willing to pay before walking. I've never had a situation ever where both parties were realistic and were still $4k apart with no budging on the dealer side.

Although tons of people do it, there's no way I'd even consider wasting my time on a private sale of a car worth as much as yours unless the savings after taxes, etc are considered was at least a couple thousand. I don't want to waste a month of weekends having people come to your house, know where you live or deal with meeting in a parking lot somewhere countless times.

What if they want an inspection? You plan on spending a day at the shop of their choice babysitting the car? Test drives, joy rides, etc. Not to mention the endless scams on payments. Do you take a cashiers check? cash only? try to go to their bank on a weekend? I'm sure most scammers have thought of more angles than I have.

Hell, I traded my last car at the dealer and still had the new owner somehow track me down and call me about 5x regarding the car's history, service, etc. Can't imagine if you sold to someone face to face.
+1.

Sorry to thread jack OP, but I am in the same position. I am going to buy a M235i and got the dealership to check out my car today.

They offered me 14,000 for my 128i which I think is really low. My car is a 2009 with 40,000 miles and in amazing condition. In fact, I don't think anyone has ever sat in the back seats. My car also had an MSRP of 38k, and is fully loaded.

The guy didn't really look at my car for more then 10 minutes before giving me the estimate. I see dealerships selling a car similar to mine for 20,000 easily.

My salesman said I could privately sell my car easily for around 18k.. but kinda worried about private car sales woes.
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      11-03-2013, 07:13 PM   #29
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It might not be a bad idea to try Carmax. I sold my M3 to them and their price was much higher than what the local dealers offered. It was even higher than the KBB number.

However, as others have said if you are willing to wait you might get a higher offer selling privately.
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      11-04-2013, 07:50 AM   #30
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Quote:
Originally Posted by Greenkirby21 View Post
+1.

Sorry to thread jack OP, but I am in the same position. I am going to buy a M235i and got the dealership to check out my car today.

They offered me 14,000 for my 128i which I think is really low. My car is a 2009 with 40,000 miles and in amazing condition. In fact, I don't think anyone has ever sat in the back seats. My car also had an MSRP of 38k, and is fully loaded.

The guy didn't really look at my car for more then 10 minutes before giving me the estimate. I see dealerships selling a car similar to mine for 20,000 easily.

My salesman said I could privately sell my car easily for around 18k.. but kinda worried about private car sales woes.
They don't need to look at your car to do the math required to make you an offer. They simply take the mileage and general condition and give you about 20% less than they think they can sell it for. Also, don't be afraid to push back on a trade offer. They always start low and definitely leave you with lots of room to haggle.

We just traded in our FX35 and got $16,700 with 57k on it (lots of door dings and a carfax reported accident). I verified with friends that work at other dealers to see what the black book trade (NOT KBB) was for the car before going in so I knew what to expect. The range was $14-17,500 so I was fine with $16,700. The dealer posted it to their site for $21,500.

The bottom line is that trade-ins are a valuable income stream for dealers so you should never expect them to give you what you think the car is worth as that is generally the same figure someone else is willing to pay for it. They're in the business of making money.
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      11-04-2013, 05:44 PM   #31
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Trade-in vs. Private sell

It would be a good idea to try a private sell and set a time limit for yourself. It will be important to assess the seriousness of the caller as well.
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      11-04-2013, 06:16 PM   #32
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Find a buyer privately and do a convenience trade through the dealer. Best of both...higher selling price and tax savings.
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      11-04-2013, 06:57 PM   #33
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Quote:
Originally Posted by KingOfJericho View Post
Contrary to what F32 said, I've sold two cars in recent years on Craigslist. I got my asking price and sold both within 24hrs. It's definitely worth trying.
never really had a problem selling a car privately
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      11-05-2013, 11:33 AM   #34
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Originally Posted by MrRoboto View Post
Find a buyer privately and do a convenience trade through the dealer. Best of both...higher selling price and tax savings.
Now this is an option which is very interesting...
Are there costs associated to this if the dealership is arranging the convenience trade to either buyer or seller?
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      11-05-2013, 11:42 AM   #35
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My only issue selling my current car is that no one wants a 6MT and RWD 335i in Calgary and people are stuck in the myth of AWD is best

Dealer trade-in at BMW is $10,000 less than what I can sell it privately
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      11-05-2013, 11:47 AM   #36
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Originally Posted by originalgoods13 View Post
My only issue selling my current car is that no one wants a 6MT and RWD 335i in Calgary and people are stuck in the myth of AWD is best

Dealer trade-in at BMW is $10,000 less than what I can sell it privately
You're right...these are some points that we should consider when buying a car...time of selling "factors" are very important...
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      11-05-2013, 12:03 PM   #37
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Quote:
Originally Posted by Shaw View Post
Now this is an option which is very interesting...
Are there costs associated to this if the dealership is arranging the convenience trade to either buyer or seller?
No costs at all. I have done this with almost all of my cars in the past. Talk to your dealer, preferably the sales manager. Find a buyer for your old car and simply put him in contact with the dealer. If they know what they are doing they will look after the whole thing...you just need to sign he back of the title.

1. Good for you as you save on taxes and will likely get more for the car on a private sale.
2. Good for the dealer as he sells you a new car and a gets a trade in and out the same day. (He may even be able to sell the buyer of your old car some additional services).
3. The buyer of the used car has to pay tax regardless, so doesn't mater to him.
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      11-05-2013, 12:07 PM   #38
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Quote:
Originally Posted by MrRoboto View Post
No costs at all. I have done this with almost all of my cars in the past. Talk to your dealer, preferably the sales manager. Find a buyer for your old car and simply put him in contact with the dealer. If they know what they are doing they will look after the whole thing...you just need to sign he back of the title.

1. Good for you as you save on taxes and will likely get more for the car on a private sale.
2. Good for the dealer as he sells you a new car and a gets a trade in and out the same day. (He may even be able to sell the buyer of your old car some additional services).
3. The buyer of the used car has to pay tax regardless, so doesn't mater to him.
Now,this makes a lot of sense...I'm just wondering what would be the reason the buyer may back off if they are asked to do this... do they necessarily have to know that we are doing this to buy another car?
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      11-05-2013, 12:56 PM   #39
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Quote:
Originally Posted by Shaw View Post
Now,this makes a lot of sense...I'm just wondering what would be the reason the buyer may back off if they are asked to do this... do they necessarily have to know that we are doing this to buy another car?

Just explain it to the buyer up front. I cant see any reason why a prospective buyer would not go for it. Not sure about Ontario, but in NS the dealer will put a fresh inspection sticker on it for the new buyer.
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      11-05-2013, 01:19 PM   #40
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Originally Posted by KingOfJericho View Post
Contrary to what F32 said, I've sold two cars in recent years on Craigslist. I got my asking price and sold both within 24hrs. It's definitely worth trying.
+1

I sell all of my cars privately. Both my 335 and M3 went to forum members in here. I got much more than what dealers were offering and sold them both at retail.

My advantage was both of my BMW's were somewhat one offs and people were looking for them.........and I am detail freak so they both looked brand new. :-)
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      11-06-2013, 08:15 AM   #41
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Originally Posted by MrRoboto View Post
Just explain it to the buyer up front. I cant see any reason why a prospective buyer would not go for it. Not sure about Ontario, but in NS the dealer will put a fresh inspection sticker on it for the new buyer.
Should I negotiate and finalize my new car's bottom line price with the dealer before going through the convenience trade discussion with the used car department?
Also the new car will take a few months before it is delivered. Does it mean that I will be without a car till then if I go through convenience trade?
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      11-06-2013, 10:00 AM   #42
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Quote:
Originally Posted by Shaw View Post
Should I negotiate and finalize my new car's bottom line price with the dealer before going through the convenience trade discussion with the used car department?
Also the new car will take a few months before it is delivered. Does it mean that I will be without a car till then if I go through convenience trade?
You can certainly negotiate the sale price of your new car ahead of time but there will be no way for the dealer to give you the out the door price until you get a firm offer on your existing car. If it's going to take a few months you may want to hold off listing your current car. Up to you, you can sell it now and do the convenience trade if you have other transportation. Just talk to your dealer. this isn't rocket science, they do it all the time.
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      11-06-2013, 12:17 PM   #43
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I always sell my cars privately. If you are confident that is well maintained, no accidents, no issues, sell it privately.

Last edited by Tracus; 11-06-2013 at 12:25 PM.
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      11-06-2013, 12:48 PM   #44
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Try private 100%. I listed my parents car for them a while back and within 3 days they got 10 grand cash for their 2001 tahoe with 100k mileage.. Talk about a deal for them !
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