Trade-in Value of my 2006 M45

[carbuff]

I had an interesting experience going with a friend who was looking to buy a new car. We went to three local dealerships in my 2006 Serengeti and Wheat M45.

At each dealership while my friend was taking test drives, I asked the salesman what kind of trade-in I could get for my M45. My M is in excellent condition, has 5,500 miles on it and is equipped with the tech and journey packages. I also have installed Lojack, ceramic window tinting and an Escort Passport 8500 radar detector (hard wired).

The Lexus Dealer on Bell offered me $34,000. The Mercedes Dealer in Chandler offered me $35,000. The BMW dealer in Scottsdale offered $30,000.

Regardless of what either KBB or Edmunds lists as trade-in value for our M, the bottom line is that the dealers in my area of the country come in far below that amount.

FYI, I wouldn't trade my M for any of the cars my friend test drove (GS450H, E320 Bluetec and 535). Even if they gave me those cars even-up.

[nmgoodthing]

In my experience w/ trade in's, the dealer will ALWAYS low ball regardless of the excellent condition, low miles, etc. As soon as you drove it off the lot it probably depreciated at least 5 g's.

If you want to get what you owe on any car your better off selling it on your own.

For example, if the Scottsdale BMW offered you 30,000 and you took it. You would see you M on the lot in a few days probably selling for 38K.
Modified by nmgoodthing at 10:20 AM 6/4/2007

[auditech10]

How much is K? LOLOne has to remember that a dealership has to be able to make money on a deal or it makes no sense for them to be in business. And with the majority of people looking on sites like KBB and Edmonds and the others that list approximate numbers, a good selling point for a dealership is to list the car "BELOW BLUE BOOK VALUE". Once somebody sees that they automatically think they are getting a deal.Also remember a product is only worth as much as somebody is willing to pay. And supply and demand is also a big factor, if there are 20 M45s in the area and 2 people interested in buying one they have to be able to get people in the door to sell them the car they want, or if they can make you want the car to buy it.

[szh]

Dealers can never give you realistic trade-in values - they have to re-sell the car at some profit. This is normal.

Back in 2003, when I bought my M45, I asked the dealer (just to find out for the heck of it) what he could offer me for my older 1995 Q45 ... had about 120k miles on it, with lots of extras (new transmission at 110k miles, spare set of 15" wheels and tires, new shocks, etc.).

His offer was $2500 and he said that he might be able to go as high as $3500. Needless to say, I sold it myself later for around $7500 as I recall ...

Z

[ClutchKick]

carmax is pretty good with tradein value...

[Jackhammer]

just to see how much wanted to give me for my car.....

they offered me $14,000 (even) for my 03 M45 with 45k miles....fully loaded with navi, cooled seats, voice recog, etc...

i LOL'd and left

[Q45tech]

Since cars are the 2nd most expensive [behind a home] expenditure. Many would be well served by taking a parttime sales/service job at a dealer or used car lot.

What you will learn will save you tens of thousands [probably $50,000]over your lifetime!