[Moopai]

Hello,

I've been a silent member for very longtime on this forum. My 545i died on my after 12+ years and now I'm on a hunt for a new machine.

A local BMW dealer in Toronto has a preowned 2018 M550i with 35K/km loaded with almost every option listed for $72k and some change. What do you think the fair value of this vehicle? Any negotiation technics is greatly appreciated! It has been a while since I leased a car.

Thanks.

[Deda]

Well,all i can say,now is the right moment to pull the trigger because 2020 model will hit production in less then 2 weeks,with new idrive 7.0,live cockpit and upgraded engine...so you can ask anything you want...dealer needs to get rid of that car in asap..good luck!

[claykin]

Originally Posted by Deda

Well,all i can say,now is the right moment to pull the trigger because 2020 model will hit production in less then 2 weeks,with new idrive 7.0,live cockpit and upgraded engine...so you can ask anything you want...dealer needs to get rid of that car in asap..good luck!

Car OP is looking at is pre-owned. Dealer pre-owned and new are different departments. Pre-owned doesn't care that 2020 will have iDrive7 and a new engine. It's also mostly irrelevant to customers shopping the pre-owned market, unless the old IDrive or engine was a source of problems.

On the other hand, this 2018 will be 2 years old in a couple months. That matters more. OP, check auto trader, Edmunds, Kelley blue book to get competitive comparisons to other used. With 35K km, to me this price seems high.

[kring]

Find out what the MSRP is, there's a big variance on the M550's they start at CAD $90K all the way to over $135K. so that's going to be your biggest deciding factor. then multiple the MSRP times 60% which would give you the cars approx residual value of the lease turn in. from a ball-park perspective, you should be in that area and then it comes down to condition and other factors.

there's quite a few for sale on eBay and cars.com - so do some comparisons there, even if in US you should be able to figure our a fair market value.. but again, make sure you got the MSRP well known.

[Moopai]

Originally Posted by kring

Find out what the MSRP is, there's a big variance on the M550's they start at CAD $90K all the way to over $135K. so that's going to be your biggest deciding factor. then multiple the MSRP times 60% which would give you the cars approx residual value of the lease turn in. from a ball-park perspective, you should be in that area and then it comes down to condition and other factors.

there's quite a few for sale on eBay and cars.com - so do some comparisons there, even if in US you should be able to figure our a fair market value.. but again, make sure you got the MSRP well known.

Thanks King! Any idea where I can get the MSRP? Thanks

[AddyDaddy]

This is Manheim auction numbers based on sales to dealers . Even if it was fully loaded $72k is real high for yr, age and miles. I wouldn't go over $60k tops or just lease a new one

[Moopai]

Originally Posted by AddyDaddy

This is Manheim auction numbers based on sales to dealers . Even if it was fully loaded $72k is real high for yr, age and miles. I wouldn't go over $60k tops or just lease a new one

Thanks AddyDaddy! Based on the above calculation the $72K Canadian is within range as I assuming the above numbers are in US $$.

[AddyDaddy]

Oh, sorry didn't realize, I assumed you were in the states. You might get payment close on a new lease with BMW incentives. I got I think $12 or $17k off msrp on my new M550 a month ago

[kring]

Originally Posted by Moopai

Thanks King! Any idea where I can get the MSRP? Thanks

you can ask the dealer. at minimum you need to know the packages the car comes with, then you can price it out. there's typically 2 common builds, one that sits about base with maybe $2K in options, and then you jump to $110+ level.

I agree with the others, depending on your preference to lease vs buy, you may get good deal on a new one.