E60 Trade-in - Resale Value - BMW Forum - BimmerWerkz.com
5-Series (E12,E28, E34, E39, E60) Chat relating to the BMW 5-Series of all generations. Specific models include: BMW 518, BMW 520, BMW 520i, BMW 530i, BMW 528i, BMW 530i, BMW 518i, BMW 524d, BMW 525i, BMW 525e, BMW 528e, BMW 540i, BMW 535i, BMW 520d, BMW 525td, BMW 525d, BMW 530d, BMW 525i/xi, BMW 530i/xi. (BMW 5-Series Forum)

 
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#1 (permalink) Old 11-29-2004, 02:06 PM
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Hi there. Just been poking around. Have taken my 2004 530i, Auto, Premium, Active Headlights to a couple of dealers for a tradein and they are not willing to give any more that 35K. I can't beleive this! Not even BMW is willing to give more that 35K for a 53K + vehicle. On the brochure I always get from BMW FS it says that the 5 series has the "highest" resale value...
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#2 (permalink) Old 11-29-2004, 02:38 PM
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Just curious - if your trading it in already, what are you trading up for?

Either way that is ridiculous, but cars do depreciate. The 5 series DID hold its value exceptionally well, but maybe not the new body style. Odd.

I say fight with them a bit, take it to the dealer you bought it from, take it to other dealers. Odds are you'll find someone that will give you closER to what your looking for.

Sorry to hear th ebad news.

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#3 (permalink) Old 11-29-2004, 02:50 PM
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Quote:
Originally posted by 03&04Owner@Nov 29 2004, 01:06 PM
Hi there. Just been poking around. Have taken my 2004 530i, Auto, Premium, Active Headlights to a couple of dealers for a tradein and they are not willing to give any more that 35K. I can't beleive this! Not even BMW is willing to give more that 35K for a 53K + vehicle. On the brochure I always get from BMW FS it says that the 5 series has the "highest" resale value...
[snapback]239446[/snapback]
are you not happy with the car? Why are you trading it in? Maybe it would be more economical if you tried to sell it to someone ratehr than a dealer. I would imagine that someone in the market for that car wouldrather pay 5-10K less for an almost brand new car that is still under warranty because it should be transferable.
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#4 (permalink) Old 11-29-2004, 03:32 PM
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Quote:
Originally posted by dagoo98+Nov 29 2004, 02:50 PM--><div class='quotetop'>QUOTE(dagoo98 @ Nov 29 2004, 02:50 PM)</div><div class='quotemain'><!--QuoteBegin-03&04Owner@Nov 29 2004, 01:06 PM
Hi there. Just been poking around. Have taken my 2004 530i, Auto, Premium, Active Headlights to a couple of dealers for a tradein and they are not willing to give any more that 35K. I can't beleive this! Not even BMW is willing to give more that 35K for a 53K + vehicle. On the brochure I always get from BMW FS it says that the 5 series has the "highest" resale value...
[snapback]239446[/snapback]
are you not happy with the car? Why are you trading it in? Maybe it would be more economical if you tried to sell it to someone ratehr than a dealer. I would imagine that someone in the market for that car wouldrather pay 5-10K less for an almost brand new car that is still under warranty because it should be transferable.
[snapback]239482[/snapback]
[/b][/quote]

I agree w/ dagoo98. My limited experience with BMW dealerships is that they are not in the used car business (other thatn their own CPO) and so they make very low offers on trade ins. Not the greatest example, but for my 2001 Yukon that I wanted to trade in for my 545, my local BMW dealer offered $7,000 below the the Kelly Blue Book for retail sale and nearly $5,000 below the trade in value. I was able to work a "courtesy trade" where a local GMC dealer bought from me slightly above the KBB trade in value and the BMW dealer ran it through as a trade in, saving me a sizable chunk of change in tax dollars. Bottom line, sell it somewhere else and put the money towards your new car.
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#5 (permalink) Old 11-29-2004, 03:41 PM
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Hi!! Dealers will always give you less money than what the car is worth. They rip you off. Never do trade ins. They buy it 10-15 thousand dollars cheaper from you and then they make profit on it. For example, they'll buy your car for $35,000 and then sell it for like $48,000. You can easily sell your car for about $46,000 in the market.

Thanks.
BYE.
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#6 (permalink) Old 11-29-2004, 04:41 PM
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Quote:
Originally posted by M BMW@Nov 29 2004, 02:41 PM
Hi!! Dealers will always give you less money than what the car is worth. They rip you off. Never do trade ins. They buy it 10-15 thousand dollars cheaper from you and then they make profit on it. For example, they'll buy your car for $35,000 and then sell it for like $48,000. You can easily sell your car for about $46,000 in the market.

Thanks.
BYE.
[snapback]239537[/snapback]
You're correct. I have taken it to BMW, Mercedes Benz and even CarMax. We have had nothing but problems with this car. It probably has spent more time with BMW Servce than with us. Same type of problems everyone else has been reporting on this model. I also currently have a 2003 530i. This car has NEVER had any issues. It runs great, It feels amazing on the road. It is a great vehicle. We were so happy with the 2003 530i and all of the other BMWs' we've had (330ci, 325i, Z3 6cyl., Z3 4cyl., 325) that we never expected to have so many issues. Besides so many "cannot reproduce" responses from BMW.

Anyway, I'm looking at the new SLK 350. Even though I don't know if I can go back into such a small vehicle. BMW is also doing the same thing they did to the 5 series to the 3. We also thought about going back to the 3 before the new model change, but it might look "dated" next to new 3 coming out.

We really don't know what to do. I just don't want to have such a big loss with this car. So we're probably going to wait until we can get a fair tradein value. In the meantime, my wife and I play "rock,scissors,paper" every morning to see which of us takes the 2003 to work. The loser takes the E60...
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#7 (permalink) Old 11-29-2004, 04:48 PM
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Quote:
Originally posted by 03&04Owner+Nov 29 2004, 04:41 PM--><div class='quotetop'>QUOTE(03&04Owner @ Nov 29 2004, 04:41 PM)</div><div class='quotemain'><!--QuoteBegin-M BMW@Nov 29 2004, 02:41 PM
Hi!! Dealers will always give you less money than what the car is worth. They rip you off. Never do trade ins. They buy it 10-15 thousand dollars cheaper from you and then they make profit on it. For example, they'll buy your car for $35,000 and then sell it for like $48,000. You can easily sell your car for about $46,000 in the market.

Thanks.
BYE.
[snapback]239537[/snapback]
You're correct. I have taken it to BMW, Mercedes Benz and even CarMax. We have had nothing but problems with this car. It probably has spent more time with BMW Servce than with us. Same type of problems everyone else has been reporting on this model. I also currently have a 2003 530i. This car has NEVER had any issues. It runs great, It feels amazing on the road. It is a great vehicle. We were so happy with the 2003 530i and all of the other BMWs' we've had (330ci, 325i, Z3 6cyl., Z3 4cyl., 325) that we never expected to have so many issues. Besides so many "cannot reproduce" responses from BMW.

Anyway, I'm looking at the new SLK 350. Even though I don't know if I can go back into such a small vehicle. BMW is also doing the same thing they did to the 5 series to the 3. We also thought about going back to the 3 before the new model change, but it might look "dated" next to new 3 coming out.

We really don't know what to do. I just don't want to have such a big loss with this car. So we're probably going to wait until we can get a fair tradein value. In the meantime, my wife and I play "rock,scissors,paper" every morning to see which of us takes the 2003 to work. The loser takes the E60...
[snapback]239596[/snapback]
[/b][/quote]

Wow, sorry hear about your terrible experience w/ the 530. I've had my 545 almost a year and no problems to date. You don't give much detail on your problems, but any chance you can use the Lemon Laws to help get a new car or have BMW buy back the 530?
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#8 (permalink) Old 11-29-2004, 05:11 PM
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Quote:
Originally posted by kscarrol@Nov 29 2004, 03:48 PM

Wow, sorry hear about your terrible experience w/ the 530. I've had my 545 almost a year and no problems to date. You don't give much detail on your problems, but any chance you can use the Lemon Laws to help get a new car or have BMW buy back the 530?
[snapback]239605[/snapback]
unfortunately, the lemon it is not as simple as it seems. Also it takes a whole lot of time and money to get to that point. You have to achieve certain requirements which BMW always finds a way to prevent me from achieveing. From here is where they told me, "You are having issues with your vehicle, bring it in and we will help you get into another BMW". Hence the 35k "trade-in" value for the car. It only has 9k miles on it also. I have been buying or leaseing BMWs' since around 1985. I really don't think our next vehicle will be a BMW. Once thing though, we are definitely keeping the 2003 E39.
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#9 (permalink) Old 11-29-2004, 07:38 PM
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thats it?!!!!

yeah - actually sold myself on the resale value thing - that was pre 2004 models

edmunds.com says the 04 530i depreciates $11k 1st year and about $4k each year after

How many miles?
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