trade in for a 2016 M3

[Bmwguy11]

Ok so I have recently begun looking to trade in my 2016 M3 due to some large financial expenses we have in the coming years, and this just makes sense for me. I'm ahead on the payments and loan so that's not an issue either. But where I seem to be falling short on is the trade in to dealerships so far.

My M3 according to KBB and edmunds should be worth about $57-$58k for a trade in. I've had one dealer tell me as low as $53k and then actually come back after "working harder on the numbers" and tell me $51k lol. (this same dealer wanted to sell me the M3 originally for sticker price even without an allocation)

If I get a trade in number that makes sense to me based upon what I'm seeing my car sell for with similar miles and equipment in the midwest, along with what the "car" sites say it should be worth, I'd be happy. But am I being unrealistic? Or are these stealerships just doing the usual.

If anyone wants to look up my car specifically, it's a 2016 YMB with 16,000 miles. It has exec package, technology package, lighting package. No sunroof, 18" stock rims, DCT auto trans, adaptive M suspension.

[instantexpert]

I've never done a trade in where the dealership ever offered me anything close to KBB or Edmunds. My gut says that $51K is reasonable-ish but I'm no expert. That doesn't keep me from weighing in, though. :-D

[afadeev]

Originally Posted by Bmwguy11

Ok so I have recently begun looking to trade in my 2016 M3 [...] If I get a trade in number that makes sense to me based upon what I'm seeing my car sell for with similar miles and equipment in the midwest, along with what the "car" sites say it should be worth, I'd be happy. But am I being unrealistic? Or are these stealerships just doing the usual.

Your expectations are not unreasonable, but they are unlikely to ever get realized at a BMW dealership.
You will get the lowest trade-in estimates from the dealers.

Remember, there will be a $5-10K gap between the price at which the dealers list used cars for sale (they will sell for less than advertised), and what they will offer you as a trade in.

If you have a Carmax or similar places nearby, start there. Their estimate will be much closer to what you expect, and the transaction complexity will be the lowest.

If you have time and want to get the max value for your car, list it for sale directly on sites like www.autotrader.com and similar.
Been there, done that. It works. It will take time to sell the car to someone who is really shopping, and you will end up offering lots of free rides to people who are mostly goofing off. But in the end, the car will sell for significantly more than you will get from either Carmax or a BMW dealer.

HTH,
a

[Super Spartan]

Originally Posted by Bmwguy11

Ok so I have recently begun looking to trade in my 2016 M3 due to some large financial expenses we have in the coming years, and this just makes sense for me. I'm ahead on the payments and loan so that's not an issue either. But where I seem to be falling short on is the trade in to dealerships so far.

My M3 according to KBB and edmunds should be worth about $57-$58k for a trade in. I've had one dealer tell me as low as $53k and then actually come back after "working harder on the numbers" and tell me $51k lol. (this same dealer wanted to sell me the M3 originally for sticker price even without an allocation)

If I get a trade in number that makes sense to me based upon what I'm seeing my car sell for with similar miles and equipment in the midwest, along with what the "car" sites say it should be worth, I'd be happy. But am I being unrealistic? Or are these stealerships just doing the usual.

If anyone wants to look up my car specifically, it's a 2016 YMB with 16,000 miles. It has exec package, technology package, lighting package. No sunroof, 18" stock rims, DCT auto trans, adaptive M suspension.

That's a good price, remember, the dealer has to also make some money out of reselling.

I would trade it in ASAP as the value will only go lower once the 2018 LCI models are out.

[indiefan24]

Definitely get an appraisal at CarMax if there's one in your area. I recently traded in my 16 M4 with half the miles you have for $57.5K there. One of the local BMW dealers in my area offered $53K.

[mrmoua2u]

Trade into dealer is always a lost. If you are a sucker, they will rip you off so bad, you will want to drive a Honda. Dealer always offer wholesale price as trade in and they will never go off KKB or any other sources. They try to have at least $8-10k in between their price and retail price for room to make money when they resale it.

If you cant wait, CarMax is probably your best bet. If you can wait, private party sale is best. GL!

[dantm3]

list it on the forum here and it will sell in a few days for easily what you want. it may take a few weeks to completely process but can be worth an extra 5k in your pocket

[FirstF80InSpace]

Trade-in is only worth it if you're actually trading in for a new car. If the dealership is motivated, they'll give you a good trade-in price for your car if you're buying a new one. And then you also save on some taxes as the trade-in value is deducted from the sale price of the new car BEFORE taxes are calculated.

[Bmwguy11]

Wanted to let everyone know. Went to two other dealers after the first and confirmed the first were crooks. Both offered $57k. Well over the low ball $51.5k from the first. I get they need to make a profit but it shouldn't be paying for their kids college off of my car lol.

Traded it in for $57k and got a good deal on a used 2015 C400 mercedes. The good news is now I can also upgrade the wife's vehicle. Sad to see her go but now we will have a better family kid hauler for my wife instead of her cruddy minivan.

And yes trading it in and buying the c400 saved me the full taxes so that alone saved $2000 too.

[TurboM]

Originally Posted by Bmwguy11

Wanted to let everyone know. Went to two other dealers after the first and confirmed the first were crooks. Both offered $57k. Well over the low ball $51.5k from the first. I get they need to make a profit but it shouldn't be paying for their kids college off of my car lol.

Traded it in for $57k and got a good deal on a used 2015 C400 mercedes. The good news is now I can also upgrade the wife's vehicle. Sad to see her go but now we will have a better family kid hauler for my wife instead of her cruddy minivan.

And yes trading it in and buying the c400 saved me the full taxes so that alone saved $2000 too.

Nice. Persistence and patience usually pay off in situations like this. Did you trade it in at a BMW dealer?

Also, how does it work with taxes when you trade in a car worth more than the new one you're buying? Do you get a credit for the excess taxes paid?

I also wonder if they adjusted the price of the Mercedes to make you feel better about your trade in amount. Any ideas on that?

[jjrandorin]

Originally Posted by TurboM

Nice. Persistence and patience usually pay off in situations like this. Did you trade it in at a BMW dealer?

Also, how does it work with taxes when you trade in a car worth more than the new one you're buying? Do you get a credit for the excess taxes paid?

I also wonder if they adjusted the price of the Mercedes to make you feel better about your trade in amount. Any ideas on that?

Thats typically what a dealer will do. An insider former Sales manager who used to post a lot at bimmerfest namedd "ninong" (who sadly passed away), mentioned that was the normal tact. He specifically said "de valuing a persons trade was the fastest way to make them upset, so it was normal to offer them more for the trade and make it back up on the other car, especially if its a used one that they can do it on. That way, they get to tell everyone how much they got for their used car trade in, while you (the dealer) still make plenty of money".


Its a lot harder to figure out what a dealer has as room on a used car, because you never know how much he was able to get it for from whoever traded it in. OP got the price he wanted on the trade in, and made a deal he was comfortable with on the used car. How much the dealer made on it doesnt really matter, but they are not in business to lose money and offered him what he said was full KBB, so they had to make it somewhere....

[TheElementalCashew]

I traded in my '16 M3 (LEDs, Executive, full Xpel) with 3K miles last week, and had a similar experience. The first two dealerships locally and in Austin offered me as low as $50K trade in. KBB said that trade was worth $58-$62K. I stuck it out and was ultimately able to get $58K trade in at a Chevrolet dealership in Houston. Just keep trying different places, and especially different towns. The used market for an M3 may be much higher elsewhere.