Trade in Value

[Maximman]

I was at the dealership 2 weeks ago to talk to my salesman about ordering a new 4.8 loaded and when we got to the part of the deal about taking my trade in this is where it got ugly. I own a 2003 4.6 with 55k on it fully loaded with rear dvd system and its CPO in beautiful condition with a KBB trade in value of 35k in good condition, and they told me the most they could give me is 28k, while taking only 2% off the new X5. This would be the third bmw I bought from this dealer and salesman, the first two were leases so I never had to trade anything. Has anybody else experienced this type of difference in what KBB says and what the dealer will offer ?

[Wagner]

KBB is an estimate, the only real tell would be to go to another dealer in your area and see what they say.

[motordavid]

And, the value really varies by location, as many dlrs have
lots full of used X5s.

Your stlr is stuffing you at both ends though, imo:
offering lowish on your trade and that big "2%" off
MSRP. Go back and see him in August when gas is
pushing 4 bucks and his lot is stuffed with new E70s.
GL,mD

[Eric Giles]

Trade in values are basically worthless to a dealer-at least when they are the ones taking a trade in. About the only thing trade in values are good for is an asking price for a private seller. A dealer is generally going to go by what the particular vehicle is bringing at the auction, and at best would reference the NADA loan value. Then again when if they put it up forsale on their lot, they will ask full retail-depending on condition of course.

It's the nature of the beast-it sucks, but its just the way it is. It's how they make their money.

[cpatzer]

One of the best resources is edmunds.com. Also, the dealer will always try to pull this. My suggestion. Sell the X on your own. Not only will you make more money, you can walk in the dealer with a smirk.

In their eyes, they will either get you on the trade or the new car. Either way they get paid. That is why I NEVER GO IN WITH A TRADE!

Gives me way more negotiating leverage.

[X5Boston]

Lemme guess, you were shown the Galves "Black Book" value. Galves is the kiss of death for car pricing. I love how dealers will insist on giving you Galves and then selling for NADA.

EDIT: Goto - http://www.galves.com/tradein/accupr....jsp?dealer=25
On the 2nd page, put in junk info into the required field. Notice how many of your options are not even considered. That nice rear DVD entertainment system might as well not be there. I'd even take it out and Ebay it because the dealer does not assign any value to that option.

EDIT2: Biggest crook I ever encountered was at Jake Kaplan Range Rover in Norwood, MA. The shady used car manager under valued a friend's X5 3.0 by $8,000. When caught in his lies, he tried to back track. Needless to say my friend did not purchase her her RR Sport SC there. Vote with your wallet and walk away if the deal doesn't look right. There will always be more X5s to be had.

Originally Posted by Maximman

I was at the dealership 2 weeks ago to talk to my salesman about ordering a new 4.8 loaded and when we got to the part of the deal about taking my trade in this is where it got ugly. I own a 2003 4.6 with 55k on it fully loaded with rear dvd system and its CPO in beautiful condition with a KBB trade in value of 35k in good condition, and they told me the most they could give me is 28k, while taking only 2% off the new X5. This would be the third bmw I bought from this dealer and salesman, the first two were leases so I never had to trade anything. Has anybody else experienced this type of difference in what KBB says and what the dealer will offer ?

[JBHorner]

I'd considered trading in an X5 4.4 a few years ago. When they came back with the value, I laughed at them. The dealer hadn't included any options, and they used a 3.0 as the base model.

It was a complete smoke and mirrors scenario. As soon as they determined that I knew what they were trying to do, they started talking to me about what "payment" I was trying to achieve. They were stumped when I said I was paying cash.

I picked up my things and walked out.

I make it a point of settling on a price before even talking about a trade with a dealer. It's not relevant, in my opinion. If they ask if I have a trade, I ask them why that would make a difference in the price of a vehicle I'm buying. That generally ends the conversation.

Joel

[broknlgs24]

Originally Posted by Maximman

I was at the dealership 2 weeks ago to talk to my salesman about ordering a new 4.8 loaded and when we got to the part of the deal about taking my trade in this is where it got ugly. I own a 2003 4.6 with 55k on it fully loaded with rear dvd system and its CPO in beautiful condition with a KBB trade in value of 35k in good condition, and they told me the most they could give me is 28k, while taking only 2% off the new X5. This would be the third bmw I bought from this dealer and salesman, the first two were leases so I never had to trade anything. Has anybody else experienced this type of difference in what KBB says and what the dealer will offer ?

i had the same car w/ less mileage and my dealer was offering the same amount.
i walked. advertised my X5 on here and other various sites. sold it last weekend
for $37k. my advice, sell it urself.

[X5FX]

Remember you only pay sales tax on the difference, so a $30,000 trade is worth roughly $2500 - $2900 in tax savings....factor this in before deciding to sell it your self.

My advice, try another dealer.

[broknlgs24]

if he's selling it, where does sales tax come into play? the buyer is responsible
for that, aren't they?