03-31-2021, 07:33 PM | #1 |
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Tips for trade in appraisal
Hey y'all,
I'm going to pick up my X5 next week and I'm trading in my 2011 328i. I'm wondering if anyone out there has experience with BMW trade in appraisals, any tips would be appreciated. My 328i is ten years old but only has 40k miles, paint is in ok shape, tires need to be replaced, other than that it's in very good condition. I plan on getting the car detailed before the appraisal but should i get four cheap tires before hand or just eat those cost with the trade in? How much flexibility will i have to negotiate a price? I'm also planning to get it appraised at Carnac just to have a backup offer and use it as leverage against BMW. Thoughts?? |
03-31-2021, 08:42 PM | #2 |
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I think I would consider putting some new or used tires on. It seems like a lot of value is derived from purely the tread depth of the tires and you'll be missing out there. If you go used, try to get 4 of the same make / model.
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03-31-2021, 10:21 PM | #3 |
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My exp seems they will low blue book the heck outta you WHATEVER you bring in. That's why your actually better off selling private party.
At 10 years old, I bet they will simply wholesale it off the lot and pretty much make zero. Those years diminish values ridiculously fast...
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04-01-2021, 06:03 AM | #4 |
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Completely agree...Vehicle condition seems irrelevant and there is zero recognition of mods/enhancements. I always hope to do a no hassle trade-in, but always get a low ball trade-in offer. I then get frustrated and end up selling myself. I’ve had pretty good luck listing my past BMWs on Autotrader.com. Every time I’ve ended up getting 10+% more $ than I would have received going the BMW dealer trade-in route.
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04-01-2021, 07:22 AM | #5 |
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Due diligence
When I decided to sell my '16 X3 28d with 53K mi. I went to local BMW dealer and was offered $16K towards a '21 X5 40i X Drive listed at $67K. I went to CarMax and immediately got a $19K check.
A few weeks later I took my '20 230i X Drive 'vert to another dealer as part of the trade deal on a $72K X5. Dealer offered $31K. I passed but when CarMax offered $32K, I thought they both seemed too low for a car with only 8K mi. Carvana came through with a $39K check and picked the 230i up at my house. FWIW, look around, trades are worth more than BMW dealers are offering since the basic rule at a dealership is to make $10K/unit sold. |
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04-01-2021, 07:46 AM | #6 |
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You would probably be better off keeping it as a second car or selling it on your own. They will probably only offer you 3-5k and putting new tires will not make any difference.
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04-01-2021, 09:51 AM | #7 |
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In some states like where I live in MD, you pay tax on the difference between your trade and the vehicle you are purchasing. It's 6% so this sometimes makes a difference. That said, you can often do better selling it on your own but this can also be a hassle finding someone with the cash. I have also sold several vehicles to CarMax and this can be a good option. Good luck with your transaction.
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04-01-2021, 10:12 AM | #8 |
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We didn’t want to hassle with selling private party. Our dealer even advised us we would get a better trade in at Carmax. So that’s what we did and they actually gave us low BlueBook
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