Selling a Bimmer 120. Dealer fair ?

[Hosehead]

We don't need anymore this 2006 120 with 44K on the clock so I want to unload it and got a settlement figure of R145K and BM dealer no longer take cars on consignment but made direct offer to purchase on what my settlement figure is... less price of 3 new runflats He says he'll sell it for 169K but in the valulation links on this forum I get a figure of between I70k to 180K valuation. My question is this vehicle worth more than the settlement and should I let the dealer have it at this price. I would have liked some excess cash to do a rebuild on another engine of mine but there is no excess cash in this deal just a cancellation of installments and getting rid of the car.

 

[HapticSimian]

Which dealer? Try Bruma Auto BMW - they tend to pay well for decent cars (speak to a chap called James). It sounds a bit low, but I've been out of the loop for a while...

And don't accept the first offer you get - phone the lot & tell them you're looking for a direct purchase offer, not a trade-in. Also, be upfront about the car needing 3 tyres. If the car is in demand, you'll get a decent offer for it. And a 2006 model with that type of mileage should be, unless it's a stupid colour.

EDIT

Ask someone at a dealer for the trade (not retail) book value - that'll give you a baseline figure.

 

[thedutchman]

145k sounds about right for now

 

[Hosehead]

Thanks for the replies. So this is one turkey of a car with plummeting resale value then. Bought it used in 2007 with 13k for 215K now only getting direct purchase offer of R145K from 1 dealer in CT maybe I should go to another BM dealer? But if anyone knows the book value, would be much appreciated.

 

[HapticSimian]

BMW 1series actually hold value very, very well compared to most other cars out there. You could've had a Renault. The entire market has gone for a ball of #@$%...

 

[Sensorei]

Go to http://search.autotrader.co.za/site/za/jsp/WhatsWorth.jsp

It shows you what cars like yours are being sold for in the rest of the country. Its a pretty good guideline. I just checked and average trade price for 2006 120i is R170k. Try to sell it privately first.

Try Gumtree first. When I advertised my last car on gumtree I got about 20 emails in the first week.

 

[Sensorei]

Oh and 44000km is very low mileage which means its worth more so it should be easy to sell your car for R170k.

 

[Hosehead]

Try Gumtree first. When I advertised my last car on gumtree I got about 20 emails in the first week.

I tried that last time, and all I got was some itinerant miner promising me a diamond from his rectum sometime around Xmas

 

[broken1]

In this market, dealers are offering R20-30k behind book on trade-ins. With a direct sale, the dealer is taking all the risk. If he buys your car and it sits on his floor for 6 months at R170k, he has to finance the R145k he bought you. The market is really slow, especially at inflated prices - so the dealer price is probably more or less right. You could go R10k either way.

If you were trading in, I would expect them to be a bit more flexible...

On the other hand, if you have the time and patience for a private sale - the autotrader for R165k would probably score you the extra R20k. But, then you are taking the risk if it doesn't sell, if it gets damaged etc etc....

 

[Hosehead]

Nice. Settlement is now 149k and same dealer offering 147K What I'd want at least is a hand it over and be done with it type thing. Who'd budge, bank or dealer. 2k is not what I want to pay in...

 

[UtterNutter]

Thanks for the replies. So this is one turkey of a car with plummeting resale value then. Bought it used in 2007 with 13k for 215K now only getting direct purchase offer of R145K from 1 dealer in CT maybe I should go to another BM dealer? But if anyone knows the book value, would be much appreciated.

I think this applies to pretty much all cars at the moment, considering the global state of the automotive market.