"(Paid $7500 for a ‘91Q with 110K miles, no warranty), just starting a new job, had to borrow the $3200 for the transmission job, with no prospects of being able to fix this car."
Dealer retail is only $5500 for 91Q? and tradein is $3200 less any known defects and the cost to repair ..........with roughly a $1400-1500 minimum if engine or transmission problems but it must run and drive $1000-1100 if it doesn't!
New young 96Q customer from South Carolina paid $8550 with 86,000 miles [works at BMW dealer got it on a trade in for what they paid].Good condition except for transmission, aftermarket pads/brakes , tension rods, 60k never done {couple of thousand should make it right except for leaking rear subframe bushing [rearended probably] another $1200........but still $8500 plus $3,000 is only $11,500 for what was a $50k car 6-7 years ago.We did a preinspection 5-6 months ago on a similiar car which was being purchased for $15,300 with 70k. [not my job to tell someone they are paying to much] I just refer them to
http://www.edmunds.com/used/19...n0678
The point being is you have to look [bargains] around before you buy! Or have a friend at a dealer who will cut you a deal just to avoid the auction. Most dealers don't want a 6 year old car on the lot unless it's near perfect! It points out the high depreciation.
A 94 Q [86k] tradein would be $7300, private retail $8500, dealer $10,400. Hey dealer wholeselling it and making $500 [cash deals] is better than spending $2000 [their cost] to fix it up and having to wait 3 months to make a measly thousand! Whereas a 2nd 3rd tier lot might buy it from dealer/auction for $7800 spend $400 covering things up and hope for the same $10,300 making $2,000......the dealer is much more concerned with reputation!