Resale prices are REALLY LOW!!

[aus]

I'm looking at what I might get for my X5 and was suprised to see dealers advertising 2003 4.4 with around 50-60k for around $24-26,000! The private sales prices are about $5k higher, probably based on Kelly Blue Book/Edmunds prices.
Looks like the price of gas and the economic downturn is really hitting the SUV market.

Just wondering if anyone else has had similar results in their home markets.

[PersonaNonGrata]

This is not unique to the SUV segment. I think that the used car market in general is taking it in the shorts right now. On the other hand, if anyone is on the market for a used car, a sports car in particular, deals abound.

As an example, a friend is looking for a used Boxster. A quick search in the Southern California area for 2001 to 2004 and you can pull almost 200 cars for sale.

[motordavid]

I read a snippet the other day that said BMW had nearly 700,000
leased cars floating around in the mkt...I cannot find that quote/source
even with some serious searching in my usual reading sites.

My point is, that's a good way to move units, as opposed to hoping
all the great unwashed will waddle in and "buy" a $45-$80G car of
theirs, but when those lease units roll back into the used mkt, "CPO"
or not, it should only serve to further depress what one might get
for their used X, 3 series, et al.

Kind of a Catch22, imo, much like the US car companies got into
a few years ago with 0% financing and cheapo lease deals simply
to move units. Admittedly, the unit numbers of BMW, in the US,
are small, but there are boatloads of BMW brand lease cars being
driven around every day.

I think I may keep humping our '01 for quite some time, long as it
runs well.
BR,mD

[Tominizer]

Good times ahead to get yourself into an 06 4.8is

[ca911]

i saw yesterday two 06 3.0i's with premium package, no nav, and both with around 17k miles each on them going for about 32-33k, at a DEALER!

[aus]

Originally Posted by ca911

i saw yesterday two 06 3.0i's with premium package, no nav, and both with around 17k miles each on them going for about 32-33k, at a DEALER!

If I could sell my 4.6is MINT, and LOADED wtih all options, with 39k miles for $33k, I'd be all over it.

[X5Sport]

We're starting to see the same in the UK now that fuel prices are well over £5 ($10) a gallon (imperial) and the UK Govt plan to start charging owners more than £400 ($800) per year in Vehicle Excise Duty (Road Tax) for vehicles registered from May 2001 onwards (so penalising people years after they made their purchases). Owners of the larger engined/heavier SUV, and any other high emissions type vehicle, are now trying to shift them and prices are falling quickly. From 2010, new cars in the highest tax band - where the new X5 also sits get whacked for an additional pollution tax of $1500 on top of all the other taxes & vehicle duty in the first year.

The UK is getting serious about emissions, but to be honest we're a smallish island as far as global emissions go and the differences it will actually make is marginal to the whole global warming thing, but if it makes the country feel better........................but that's a whole different thread.

I think that as long as my E53's now much improved reliability holds out I might just hang on to it for the time being. Diesel fuel is even more expensive in the UK at around $11 a gallon and because of the changes in the maritime sector (who it is reported may have to add diesel to their bunker fuel to clean up the emissions) thus increasing demand for diesel, there is a significant and growing price gap between diesel and petrol to the point where diesel may price itself out of the market. At least one motoring journo expects to see diesel prices here rising to more than £9 ($18) per gallon.

Reliability issues aside, my X is without doubt the best driving and most comfortable car I have ever owned so it will be real shame if it's type disappears.

[bd3500]

I think one of the biggest reasons BMW has been struggling is definitely the devaluation of the dollar. BMW will likely will expand US production capacity to hedge against this in the future.

[FSETH]

Same thing here in the Atlanta area. It seems like values have dropped about 7-10k in a little more than a year.

[msammy]

Originally Posted by FSETH

Same thing here in the Atlanta area. It seems like values have dropped about 7-10k in a little more than a year.

Yup, I did a KBB estimate on my cars and my jaw dropped when I saw my 2007 550i w/15K miles came in with a trade-in value of only $40K. I'm keeping my older X5 forever, totally paid for and will always be worth something someday! Just as everyone on this thread has observed, the value of our beautiful machines has dropped significantly with the bad economy, high cost of fuel and future outlook of oil prices. Not a good picture, but you know what, I don't care what it costs, I'm still driving, baby!