Problem with my 4.8is...
 

I can't seem to give this thing away! Is the market for high end SUV's dead now with gas prices etc?

My BMW dealer said their sales have slowed way down for all cars...

Is it because new model is coming out?

I'm down to 58 k for a perfect brand new barely used car that stickered at 71,500.

I have it for sale in classified section here and on Autotrader and craigslist.

if you want to sell fast go low. 58won't sell a truck fast. I think you need to sell at a price of 50 and watch the ants come marching in.

I agree with jst2878...there's a reason BMW sells 10 3.0s and 5 4.4s for every 4.8is (my guesstimate on #s). It's a limited production model of a high-end brand, and the market is limited. Worse, fuel prices are on everyone's mind (if not in the forefront, then definitely somewhere in the back). I have a good friend with more dollars than sense who just took a bath on his Infiniti FX45 in trading for a Camry Hybrid. Foolish move, as the money he lost on the trade will never make up for the mileage he gained. My point is that there is a herd mentality in terms of auto sales, and SUVs in general are dogs in the market right now. Everyone is afraid they'll be stuck with an unmarketable car or one that costs $120 to fill up. I'm afraid you're either 1) stuck with it or 2) will have to sell it well under market if you need to move it fast. Be patient, however, and watch pricing on eBay to get an idea what market is for these things. You might be ahead to trade it. Look at all your options before you pull the trigger. Good luck!

(One last thought - If you can't sell that bad boy in San Diego, I don't know that you could sell it anywhere. Be patient and it will sell.)

Mike

Thanks for the input guys...I'll be patient...

Yah be patient, don't sell yourself too short unless you really have to. If I were in the SUV market right now I'd be looking for something running on 87 octane and costing less...which is probably on the minds of a lot of used car buyers.

Like a Trailblazer LT :) :)

I agree with previous opins; that 4.8 monster repesents about 3.5% of annual X5 sales and 2% of all X series unit sales...we see these at meets like MB taxis in Germany, and we read about them from owners here. In new and used car America, they are not that common.

Your depreciation is a function of current mkt and I would think your best bet is for a "move up" X owner or, a new-to-X buyer that sees the value in a very slightly used unit vs. $75-80Gs new. But, it will take some time and some luck.

Cars, boats, etc. are really depreciating assets, most of which take their big hit in the first few days/year. "Investing in a car", with very few exceptions other than decades, is worse than burying cash in the back yard. Not to rub it in, and your ride is Titz...I wish you patience and good luck!
GL,mD

Just a thought..... it has been my experience that over a certain $$$ most people will not buy a car privately. They prefer the 'security' of going to a dealer. It took me many months of trying to sell a high dollar car before I worked it out.

My advice would be to sell it to a dealer at the best price you can or trade it for whatever you are buying........

The price you get at a dealer is going to be what you end getting privately anyway once you take holding costs (repayments if financed) for all that waiting, and the eventual discounting of the price to get a buyer......

Be patient my friend. 4.8 buyers do not come everyday. It also depends on area. I have seen M5's listed for months in Roundel. Try cars.com, that's where I sold my last X5.

I had my 2002 X5 4.4i listed on AutoTrader for about two months before it sold. My M3 was listed for about the same amount of time. Oddly enough, they both sold within two weeks of each other in late 2004; the M3 the week before Xmas and the X5 sold the week after. In a relatively wealthy demographic market such as the one you're in, local advertising could be beneficial, but I think you're doing a fine job hedging your bets by posting it on craigslist and AutoTrader. AutoTrader is the first place I go when I start shopping for a car. Good luck!

Mike