06-01-2023, 09:18 AM | #1 |
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F95 Trade-in Values US Market?
Curious how much $$$ dealers are giving you on your F95s. Would be nice if you list some details as well....color, comp vs non-comp, and miles.
I'm thinking about offloading my '21 comp dravit/sahkir 22k miles. I inquired about a consignment sale with a local dealer that only sells high end pre-owned cars and they take 8% plus $595 and told me they would list for sale for around $90k. That means I'd net low 80's. I have no basis to understand if this makes sense or not. The online companies like Carmax are a lot lower - in the 70's. Thx.
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06-01-2023, 09:57 PM | #2 |
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Why not just try and sell yourself? Ebay/craigslist/autotrader and you will have her sold in a week. These cars sell well, and usually go for top dollar - probably won't have to sit on it longer then a week or two if priced right.
Unless you're buying something else, and tax credit **might** make sense to you - selling these private is way to go and usually fairly easy. |
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06-03-2023, 09:50 AM | #3 | |
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Thanks!
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2021 X5 M Competition Tanzanite Blue II/Black Full Merino with Midrand Beige
Past: 2019 M5 Competition Alpine White/Aragon Brown Full Merino Leather 2018 X5 35i M-Sport Space Gray / Mocha Nappa 20" 469M Wheels 2015 528xi Dark Graphite / Cinnamon Brown 2013 X5 50i Platinum Gray / Cinnamon Brown 20" Y-Spoke Wheels |
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06-03-2023, 03:47 PM | #4 |
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I've always wondered the same. How do you handle "test drives", payment, when do you turn over the title and keys, etc? With these things costing close to a small house, it seems like you'd almost want some sort of escrow service to handle the transaction.
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06-04-2023, 09:13 AM | #5 |
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I've sold a few vehicles privately, though none as close to the 6-figure mark as a newer X5M would be. The easiest way to have confidence in the payment process is to require a cashier's or certified check from the buyer. Those usually have a much shorter hold since the funds are guaranteed before the check is issued. An Escrow service is another option, but they'll charge fees and take quite a bit longer to process things. Note that cash deposits over $10k are reported to the IRS by the banking institution. That usually means the bank will hold the funds a day or two before clearing them.
Keys and title get transferred at time of the funds being handed over. Preparing a sales contract with a little more detail and any declarations or special conditions is also useful, even if your state has a generic vehicle sale form. It's generally accepted as common courtesy to allow the buyer to keep your license plate for a day to allow them to get home and title the vehicle the next day (at least it is here in the plains/midwest; not sure if that's normal on the coasts) As far as the test drive goes, ride along. The prospective buyer will almost certainly understand that a private party sale doesn't come with the same presumed freedom that a dealership sale might. If they balk at having the vehicle owner along, I'd take that as a red flag ("what were you planning to do that you can't with me present?"). The buyer typically also isn't that familiar with the vehicle, so having the owner along to answer questions frequently helps. I just sold an Audi SUV to someone who owned the same model but with a lower trim package. Having me along to point out the differences "live" saved a lot of confusion and probably went a long way to closing the sale. |
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06-08-2023, 04:57 PM | #6 | |
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Cars in general are moving much much slower with the interest rates where they are at. |
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06-08-2023, 08:14 PM | #7 | |
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06-10-2023, 09:43 AM | #8 |
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When I bought my Viper I had cashiers Check from My credit union account. I had the seller google and go to the website and call the bank independently and verify the check number, funds available and date drawn. We did this at the title notary and it was a smooth transaction.
This is a possible way to do it D |
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06-11-2023, 07:51 AM | #9 | |
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Here are my .02c regarding the listing, although I might be WRONG on all points!! This is just one man's perspective. ----------------------------------------- I've been following the X5M private party market for a bit and see *most* of them turn over quickly (some sell while I was debating on them). I'm not sure if I've seen a single one sit 2 months + yet. This also goes for RSQ8, RS6 and other high end cars I look at daily. So I decided to pull up your ad...to see exactly what was up here. The choice of mods is definitely deterring many potential buyers, between the wrap / wheels it really is looking for a specific candidate on TOP of them wanting an X5M, which already narrows the market. Accessories don't necessarily benefit the potential buyer either. The year/mileage ratio (with your price) is potentially also a strong deterrent making it sit longer on the market. While some people might pay the premium for a low mileage car, yours is priced beyond the top of the market (you have highest priced 2020 in country by wide margin). I'd personally look for a 22/23 in that price point. I assume the car is also coming out of warranty in the near future being a 2020. Additionally, your phone number is nowhere to be found in the ad. Autotrader today makes it very complicated to contact private party sales, and messages sometimes get lost or not communicated to potential buyers. Do you have it listed anywhere else? I typically list on ebay, craigslist, autotrader and offerup on day one for the most exposure. Much to my surprise I have sold *many* of my luxury cars by my buyers finding me on ebay (which is quite surprising). I also try to include a video of the car as well (link to youtube or such). Presentation is everything. ----------------------------------------- I have been switching out my last few daily drivers every few months and haven't had any issues selling my previous cars privately quick, all up to around $100K (for reference I'm in Phoenix, AZ). I'm sure you will find your target buyer - but looking at where you are situating the car in the market, I don't believe its the X5M market that's the problem here -- I believe it's all the points above that are slowing things down quite a bit. Last edited by socialpro1; 06-11-2023 at 08:44 AM.. |
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06-11-2023, 08:55 AM | #10 | |
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Link for context- https://www.autotrader.com/marketplace/buy/bmw/x5-m/2020/5YMJU0C01L9D70744?listingId=676373683 |
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06-11-2023, 11:10 AM | #11 | |
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I purchase almost every car now, assuming I will be selling it in 3-6 months (some stayed longer). I think about the SELL even when I buy (what options / colors / mileage / warranty) etc will prospective buyers want. This method of purchasing / holding cars and mindset isn't for everyone but it allowed me to indulge in my hobby without crushing the wallet. Typically when I see a listing I immediately know if it'll be on market for a while or take some time to sell... P.S. I picked up an X5 M50i a month ago and already shopping for my next ride (X7 M50i / M60i OR SQ7). I live by the moto 'So many cars...so little time....' Glad the wife is supportive, on most occasions. |
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06-12-2023, 08:12 AM | #12 | |
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Curious what would you price mine at if you were selling and lived in Southern California: 2021 X5M comp dravit on sahkir? No other options besides comp, has the 809 wheels with PZeros, clean Carfax including all maint at BMW dealer. No PPF so there are some rock chips in tbe front and on the lower rocker. Not sure if it matters but there are very few for sale within 100 miles and most are donington or black. No dravits anywhere near me. Thx.
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06-12-2023, 01:29 PM | #13 | |
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06-12-2023, 05:49 PM | #14 |
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Thx. Has 22,233 miles. Two local Orange County BMW dealers offering high 70's. Consignment would take 8% which seem a lot but they would list low 90's so I would likely net more by doing that. Private sale would be best but I can't do that now as I'm leaving the country in less than 2 weeks so no way I can get a private party transaction done that quickly. So if I want to sell now I'll pick the consignment option...or I have to wait until August when I return and the market may be different. Inventory here is low and there are no Dravits for sale.
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06-12-2023, 08:18 PM | #15 | |
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I was offered $87K for mine two weeks ago. MRSP $125K 1390 miles. I know this dealer since I purchased it from them. He had a 21 on the lot two weeks ago 2 owners 17,000 miles he was asking 90K It sold but I don't for how much. In NJ I don't see a many of 24 LCI X5M so maybe that has something to do with it?? |
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