2002 540

[pamato]

Hello all,

I am a newbie to this forum and BMW. I have decided to purchase a 540 and am in the process of searching. I have found one in seattle, black/black, 2002 540i, 6MT, sport package, cold package, with 36K miles and it is certified.

The dealership is asking 43K. Does this price sound high? If so, how much negotiating power do I have, meaning how low do you believe I can purchase this car for.


Thank you for the help.


One last question, where are good places to search for used BMWs.


Paul

[wiseman168]

Originally posted by pamato@Nov 3 2004, 12:27 AM
Hello all,

I am a newbie to this forum and BMW. I have decided to purchase a 540 and am in the process of searching. I have found one in seattle, black/black, 2002 540i, 6MT, sport package, cold package, with 36K miles and it is certified.

The dealership is asking 43K. Does this price sound high? If so, how much negotiating power do I have, meaning how low do you believe I can purchase this car for.


Thank you for the help.


One last question, where are good places to search for used BMWs.


Paul

[snapback]223473[/snapback]

Pau, www.kbb.com

Washington • November 2, 2004
2002 BMW 5 Series 540i Sedan 4D

Engine: V8 4.4 Liter
Trans: 6 Speed Manual
Drive: Rear Wheel Drive
Mileage: 36,000

Equipment
Sport Pkg
Air Conditioning
Power Steering
Power Windows
Power Door Locks
Telescoping Wheel
Cruise Control
AM/FM Stereo
Cassette
Single Compact Disc
Premium Sound
Dual Front Air Bags
F&R Side Air Bags
ABS (4-Wheel)
Traction Control
Leather
Dual Power Seats
Moon Roof
Alloy Wheels

Consumer Rated Condition: Good
"Good" condition means that the vehicle is free of any major defects. This vehicle has a clean title history , the paint, body and interior have only minor (if any) blemishes, and there are no major mechanical problems. There should be little or no rust on this vehicle. The tires match and have substantial tread wear left. A "good" vehicle will need some reconditioning to be sold at retail. Most consumer owned vehicles fall into this category.

Trade-In Value List Your Car For Sale Online $34,055
Trade-in Value is what consumers can expect to receive from a dealer for a trade-in vehicle assuming an accurate appraisal of condition. This value will likely be less than the Private Party Value because the reselling dealer incurs the cost of safety inspections, reconditioning and other costs of doing business.

[pamato]

Wiseman,

Thanks for kbb. I did look there. If the trade in value is $34K, how much higher can I negotiate?



Paul

[wiseman168]

Almost all the dealership get the car from the auction, markup price different between $6,000 - $10,000

Trade in value is $34K (this is for normal people, you, and me)
Auction price dealership can buy this car around $24k

This car is certified so add $2-$4k to the price..

Tell them you will get it for $28k or start negotiate at $28k
Because this car is certified, if you finance with BMW (long as you have good credit 700+) your rate can be as 3.9% (I think).

Use this to negotiate:
1. Tell them 36k mile for 2 year old car.. little too much (They will tell you hwy most driving)
2. 6 speed MT/ only man will want this car, pain in the butt drive in the city
3. 540i Sport - insurance will be alot..

Good luck

[billB]

Wiseman168

While this sounds like a very good strategy to follow. The dealers especially authorized BMW do know their customers and/or cars:
A. They are aware of the fact that BMW is a luxury car.
B. They know you willing to spend the money otherwise you won't be there.
C. They already lnow you like the car, they don't have to convince you with its features alas a Yugo.
C. Used car salesmen have little control if any over the dealers asking price.
D. Yes they get it from the auction at a wholesale price; but they mark up their profit a priori; and they expect to get it. BMWs do sell themselves; don't they?

As such your negotiating ability becomes very limited with the salesman; to be realistic I would consider a drop in the hundreds not thousands. Buying from a non BMW dealer on main st. is entirely different story and has some sort of built in bargaining chips embedded in the very process of selling a used car!

Regards
billb

[wiseman168]

Originally posted by billB@Nov 6 2004, 04:14 PM
Wiseman168

While this sounds like a very good strategy to follow. The dealers especially authorized BMW do know their customers and/or cars:
A. They are aware of the fact that BMW is a luxury car.
B. They know you willing to spend the money otherwise you won't be there.
C. They already lnow you like the car, they don't have to convince you with its features alas a Yugo.
C. Used car salesmen have little control if any over the dealers asking price.
D. Yes they get it from the auction at a wholesale price; but they mark up their profit a priori; and they expect to get it. BMWs do sell themselves; don't they?

As such your negotiating ability becomes very limited with the salesman; to be realistic I would consider a drop in the hundreds not thousands. Buying from a non BMW dealer on main st. is entirely different story and has some sort of built in bargaining chips embedded in the very process of selling a used car!

Regards
billb

[snapback]225835[/snapback]

Billb,

Can't get this right price for the car you, shop somewhere else.. there is alot of nice car for sale (take your time) remember car is your 2nd largest invistment.

Recommanded buy the car in the dealership because warranty and its dealership..

Encomy like today, not much people can buy expansive car, you have to beat the salesman. Remeber take your time.