[GFK007]

Hey Guys,

My old man has a 2020 m550 with 11k miles - msrp was about 82k.

He's having back issues and now needs an suv, so I went to get a trade in value for the g30.

I was given a quote of $55k. Is it just me, or is that absolutely bonkers? That's 33% in value lost in just 12 months!!

[crypto]

Hi

A few things come to mind here. First everyone mentions a pretty big hit in the first few years, so to some degree it makes sense. Second you comparing MSRP with trade-in value, which I also tend to see a lot. I think most people aim for 10% off MSRP when they purchase a vehicle. I think most are closer to 7.5-8% overall -- not counting other incentives. So let's say we used 8% -- we are now at $75,440 as the price to compare with vs $82k. Trade in will be lower than a private sale, so its market value worth is some amount more than $55k for sure. That probably gets you closer to a 20-25% hit (maybe less) when doing the math. Maybe try Carmax or Carvana too and see what they offer as a comparison.

[AP]

Not surprised to be honest , trading in a car in its first year is going to be very pricey. Obviously the biggest hit is year 1 so by year 3 I always have a figure of something like 45-50% as a rough ball park (obviously varies on type of car and market conditions)

[MLIFEM550]

Question is where do you need to be realistically. On trade in you get the wholesale value so after dealer fees service , detail, pack profit etc they still need to sell that vehicle at the reasonable price. Just remember this either either you keep it and ride it out or dump it. More you wait the value will only go down.

[Bob in IL]

I recently got offers on our G01 X3 from Carvana and Vroom (as well as KBB and Auto Nation). Vroom was $1,500 higher than Carvana. I didn't get around to checking Car Max. If I get serious about selling I'd need to update these offers to reflect the current market.

As mentioned, it wouldn't hurt to check out some of these.

[saw1]

After 1 year your trade in value is at least 10k lower than retail. If you trade it for 55k, they will list it for 65k and sell for around 62k. Private sale would be best as long as you can sell it for more than the trade in + tax difference on the 55k trade.

[GFK007]

Originally Posted by saw1

After 1 year your trade in value is at least 10k lower than retail. If you trade it for 55k, they will list it for 65k and sell for around 62k. Private sale would be best as long as you can sell it for more than the trade in + tax difference on the 55k trade.

Update:

Got a quote from a luxury car buyer / broker for 62k - or they'll take on consignment for 5%, and expect to sell it for $70-72k.

[2021M550i]

Originally Posted by GFK007

Hey Guys,

My old man has a 2020 m550 with 11k miles - msrp was about 82k.

He's having back issues and now needs an suv, so I went to get a trade in value for the g30.

I was given a quote of $55k. Is it just me, or is that absolutely bonkers? That's 33% in value lost in just 12 months!!

I am in the market for a M550i. I have placed an order for a new one but can still cancel it. I like the looks of 2021 after the refresh. Why don't we talk ? If you are interested, pls contact me.

[jjscsix]

The problem is that sedans is a dead market. Second, I can never fathom why anyone would pay $70-$72 when you can buy a new one easily for $6-$7k off list.