[DarrenL_007]

I have now placed my order for a 430d GC xDrive in Alpine White (Adaptive Suspension/Reverse Camera/Folding, Auto dimming Mirrors/Adaptive Headlights/Sun Protection Glass/442m 19" Alloys), however when the dealer looked at my 2009 E91 LCI 330d Touring in black (fully loaded) they offered me £8500!!!

I placed my car on Autotrader and sold it within 2 days for £14850, which has given me a load of cash in my pocket after the deal. However, having no car since mid April (Delivery July 20th) is painful due to having to borrow/hire some questionable cars

Currently driving my moms 15 yr old Hyundai Lantra, which I'm extremely grateful for, but can't wait to get in my new 430d!!!

Has anybody else had any similar part exchange experiences?

[floydarogers]

Originally Posted by DarrenL_007

I have now placed my order for a 430d GC xDrive in Alpine White (Adaptive Suspension/Reverse Camera/Folding, Auto dimming Mirrors/Adaptive Headlights/Sun Protection Glass/442m 19" Alloys), however when the dealer looked at my 2009 E91 LCI 330d Touring in black (fully loaded) they offered me £8500!!!

I placed my car on Autotrader and sold it within 2 days for £14850, which has given me a load of cash in my pocket after the deal. However, having no car since mid April (Delivery July 20th) is painful due to having to borrow/hire some questionable cars

Currently driving my moms 15 yr old Hyundai Lantra, which I'm extremely grateful for, but can't wait to get in my new 430d!!!

Has anybody else had any similar part exchange experiences?

In American parlance, is Part Exchange (PX) the trade-in value of a car?

It's not unusual for dealers to lowball tradeins, as that helps their bottom line profit on a deal. Usually the difference is much less, however.

[DarrenL_007]

Originally Posted by floydarogers

In American parlance, is Part Exchange (PX) the trade-in value of a car?

It's not unusual for dealers to lowball tradeins, as that helps their bottom line profit on a deal. Usually the difference is much less, however.

Yes that's correct, although I almost didn't go through with the deal because of difference in valuations.

[SpeedKing]

It will be cool to drive the new 430d after the 15y old Lantra

[DarrenL_007]

Originally Posted by SpeedKing

It will be cool to drive the new 430d after the 15y old Lantra

[Versipellis]

Dealers always low-ball. They also rarely care about the minute differences such as whether a car lover's driven it or some old grand-ma who can't be arsed to look after it. My 2009 E90's been valued at between $8k to $12k with barely 30k miles on it in great condition, and I've got offers from people I've spoken to (non-dealers) in a range from $15k to $18k.

[RoundelM3]

Apparently, dealers worldwide will always offer you wholesale/auction values for your car. It's how they make their money. No dealer will ever give you retail value for your car - the most you can hope for is what's known as "trade-in" value in the US, which is between the two aforementioned values. You can sell and get more money, but then you pay more sales tax based on the car's agreed-upon price versus the difference between their trade-in offer and the car's agreed-upon price. Still, even in those situations where you pay the higher sales tax, you still come out ahead.

[Versipellis]

Originally Posted by roundel335

Apparently, dealers worldwide will always offer you wholesale/auction values for your car. It's how they make their money. No dealer will ever give you retail value for your car - the most you can hope for is what's known as "trade-in" value in the US, which is between the two aforementioned values. You can sell and get more money, but then you pay more sales tax based on the car's agreed-upon price versus the difference between their trade-in offer and the car's agreed-upon price. Still, even in those situations where you pay the higher sales tax, you still come out ahead.

I've never done this before, but if you do a person-to-person sale (i.e. say to a friend or via Craigslist) do you technically still need to pay sales tax?

[crono06]

Originally Posted by Versipellis

I've never done this before, but if you do a person-to-person sale (i.e. say to a friend or via Craigslist) do you technically still need to pay sales tax?

In Canada, the purchaser of the car would pay tax based on estimated market value when they go to register the vehicle. You would pay full tax on your new car.

If the dealer offers you a trade-in value of $10k on a new $50k purchase, you would only pay sales tax on the difference - in this case, $40k.

[smithf80]

Shitty trade in value sounds about right for a dealership.

[ronanz]

Originally Posted by Versipellis

I've never done this before, but if you do a person-to-person sale (i.e. say to a friend or via Craigslist) do you technically still need to pay sales tax?

No, you do not pay sales tax on 'Private Party' Sales upfront. Although the Motor Vehicle Dept. (MVD) WILL collect tax on "DECLARED" Purchase Price on 'Bill of Sale' upon registration.

.

[Versipellis]

Cheers!

[WilliCO]

Yep. Dealers don't make much money on new car sales these days; all the pricing information is too easily available now. There's still a lot of voodoo around the trade-in process though, and I think that is where dealers make their money. And I mean buying the trades, not selling them.

[DarrenL_007]

Why don't more people try and sell privately? I know it potentially can be very stressful, but dealers will start to get the message and give us better deals.

[ronanz]

Originally Posted by DarrenL_007

Why don't more people try and sell privately? I know it potentially can be very stressful, but dealers will start to get the message and give us better deals.

Most people would rather take the "least path of resistance" route.

.

[CHCCubs]

Originally Posted by SpeedKing

It will be cool to drive the new 430d after the 15y old Lantra

Agreed, it will make getting the new car that much better. Years ago I was in a similar situation and ended up driving my Grandfather's rarely driven 1995 Grand Am for just over a month until my E90 came in, I'm convinced it made that E90 seem so amazing when I finally picked it up