Reply With Quotepm cardudes
I bought a new BMW last December for 90K and went to try and trade it in this week to the same dealership and they offered me 58K for it. It depreciated 32K in 11 months??? This car has 8000 miles on it, looks like new and even still has that new car smell. When I told the dealer that that doesn't say much for his cars his answer to me was "Mercedes are just as bad"....I don't own a Mercedes. I understand that the car depreciates the second it drives off of the lot but I thought that was a little extreme.
pm cardudes
That is just terrible.............he he he..........
Had you leased it for 2 years, would have taken as big a hit?
I no nothing about leasing, but I was wondering if it would have been an advantage in your case?
BTW, what Bimmer did you buy for $90K?
Had you leased it for 2 years, would have taken as big a hit?
I no nothing about leasing, but I was wondering if it would have been an advantage in your case?
BTW, what Bimmer did you buy for $90K?
Fully loaded 2007 750LI
Looks like you took it hard when you bought it.
Every luxury auto is suffering right now. You should hear the buy bid I just got for an 06 SL55 AMG with 1600 miles on it.
Must be good to be the king!
I bought a new BMW last December for 90K and went to try and trade it in this week to the same dealership and they offered me 58K for it. It depreciated 32K in 11 months??? This car has 8000 miles on it, looks like new and even still has that new car smell. When I told the dealer that that doesn't say much for his cars his answer to me was "Mercedes are just as bad"....I don't own a Mercedes. I understand that the car depreciates the second it drives off of the lot but I thought that was a little extreme.
Anytime you try and trade in a high dollar car, they attempt to rape you. However, 7 Series BMW's are and always have been exceptionally soft. Shit my nephew had an SL55 that he traded in at 18 months old and 11K mikes $120K down to $85K.
Selling private party, which is a pain, will probably bring you an additional
$10K.
Always better to lease this type of vehicle, IMO Just my .02
I bought a new BMW last December for 90K and went to try and trade it in this week to the same dealership and they offered me 58K for it. It depreciated 32K in 11 months??? This car has 8000 miles on it, looks like new and even still has that new car smell. When I told the dealer that that doesn't say much for his cars his answer to me was "Mercedes are just as bad"....I don't own a Mercedes. I understand that the car depreciates the second it drives off of the lot but I thought that was a little extreme.
It sucks to be the KING sometimes, huh.
FWIW - I usually buy my Bimmers 3 years old at approx. 50% off sticker, or wait until they're 10 years old and buy them when they're basically done depreciating.
Yes, you have to drive a used car and do a little maintenance, but check this out; I bought a 12 year old M5, drove it for 4 years and sold it for 70% more than I bought if for. So 70% APPRECIATION in 4 years
Those deals don't come along often, but they're nice when you get 'em!
Just a little FYI...Most new cars loose 30-50% of their value in the first 3 years of ownership. About 15-20% the instant you drive it off the lot.
I thought everybody knew that.:idea:
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