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09-09-2014, 07:15 PM | #1 |
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Trade in experiences
Just wondering anyone's past experience on trading in a 7 series. I've just gotten some really low trade offers on my car recently considering the sticker was 117k! It is in great condition and only 37000 miles. I'm just pretty floored by the crazy depreciation I've experienced with this car compared to other brands I've had.
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09-09-2014, 09:02 PM | #3 |
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You hit it right on! A caddy dealership said 36 and my own bmw said 33! Is there a point where it holds steady? My research shows similar cars ( I say that bc mine was an exec vehicle and is usually 7-8k more msrp) with asking prices ranging from at least 42 to 50k
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09-09-2014, 09:33 PM | #4 |
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The market just dropped a ton on the 11's and 12's like 5-6 months ago. They were trading for the mid-40's and selling in the $50's, now, $10k less. Its crazy.
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09-11-2014, 06:08 AM | #5 |
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I know the feeling. I live in europe and we experience the same issues. With the new model coming out soon, it will for sure not get any better.
I paid 117K EUR new and am now looking at second hand prices of 29K to 31K max. (in Euro). My car (a 740d) has 110000 kms and is in pristine condition. I became so annoyed with it I decided to keep the car and not sell it anymore. BMW wanted to offer me 39K in case I decided to order a new 6 or 7, but I refused that offer since I dont like the new G11 (based on what I know so far). |
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09-11-2014, 09:21 AM | #6 |
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One word: LEASE. The lease payments barely cover depreciation on 7ers, in my experience. Plus, you don't have to feel insulted at trade in time.
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09-11-2014, 10:35 PM | #8 |
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I am so annoyed, I too decided to keep the car long term. I love the car, just have a third kid on the way, so wanted to see my options. You live and learn. Never purchase again. I do feel that the dealerships way undervalue the car thinking someone driving a 7 won't care about a few thousand dollars, but it's more principal.
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09-12-2014, 04:39 PM | #9 |
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Thats why I buy used. I still take a hit, but not nearly as much. I'd never in a million years lease. I can't leave anything stock, so buying is my only option.
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09-13-2014, 01:27 PM | #10 |
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gonna drive it to 100k or warranty expires than take that huge loss and ill probably do it again but Leasing(renting) idk i agree with mike i like modding
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09-13-2014, 08:25 PM | #11 |
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I'm doing the same thing, but gotta buy the damn extended warranty. Cheapest I've seen for it is 5400
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09-13-2014, 10:28 PM | #12 | |
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Quote:
I broke 50k miles today, so my factory warranty is gone. Guess we'll find out how good this company is, 'cause my fuel line is leaking and the dealer never bothered to get back to me yesterday. |
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09-15-2014, 09:25 AM | #13 |
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I have no desire to modify the car and I would NEVER own it without factory warranty and maintenance. Plus, a 3 year lease, if timed right, allows you to have both the original version and the LCI version of the 7. Who wants to spend hundreds of dollars updating to the clear lenses instead of the red ones and all that stuff. I've done it the other way years ago, and you spend more money and have more worries dealing with old German cars and their expensive repairs. I love them but don't want to marry them.
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