Hi backroomers,
You might have read my whinge a few days back about being unable to sell by 5 series BMW privately. I since dropped the price to £9200 and still no interest!
I was thinking of plucking up the courage to go to a BMW dealer, to see what they'd offer me for it, for cash. I'd heard that this amounted to hopeless act of desperation, but wouldn't a BMW dealer be more likely to offer me more than I'd get as a trade-in anywhere else? After all I've seen Approved Used BMWs of a similar age/mileage to mine, so all they'd need to do is service and valet it and stick it on their forecourt at a grossly inflated price. So I wondered if they might offer me a decent price. I thought most trade-ins went straight into auctions, so you can never hope to get a competitive price.
Am I being hopelessly naive? What do you think I should be trying to get for it selling it this way - it's a 2000(W) 523i SE, with a bit over 50k on the clock. Full BWW history obviously.
If I'm only going to get peanuts, I won't bother - I'm not that desperate...
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There's no harm in asking.
You don't have to accept their offer, and you may be able to negotiate.
Altenitively, you could ask them to offer you a price for the car and hold it for say 2 to 3 weeks then put it on ebay with that as the starting bid/reserve.
Hugo
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Thought going to a BMW dealer was one the last resorts available to a private seller as
a)you get treated like scum
and in addition
b)after all the trouble get offered a poor price!
Not worth it.Far better to keep persevering on autotrader etc.
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I think you would be disappointed by what the dealer would offer, but at the end of the day a car is only 'worth' what someone wants to pay for it. A 4+ year-old 5-series is not going to be terrifically sought after so your 'peanuts' might be someone elses 'overpriced'.
Have you tried putting it in the 'Classifieds' on here? Its free you know!
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I thought that these were still very much in demand? i know the new one is out now, but these were such popular cars and their depreciation was always so slow that i would think 9200 was a bit low for this car?
Or am I being naive now?!
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their depreciation was always so slow that i would think 9200 was a bit low for this car? Or am I being naive now?!
Depreciation is not that low on the 5's, it is rather lower on the 3's (just as MB C-class holds value better than E-class). I suspect that £9k would buy you one from a (non-BMW) dealer with a warranty etc. The poster here is hoping to get over £9k as a private sale. I think £8.599 or £8,999 etc. might hook a punter.
The 5's were never as popular as the 3's.
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You're right Aprilia (again) you do see plenty more 3's on the road than 5's.
I just always seem to get the impression that these cars are so highly regarded by the public and press alike that they go for daft prices, even at 4-5 years old.
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You're right Aprilia (again) you do see plenty more 3's on the road than 5's. I just always seem to get the impression that these cars are so highly regarded by the public and press alike that they go for daft prices, even at 4-5 years old.
I don't think that in the 'real world' there is much that is going for 'daft prices' at the moment. £9k will get you a Mondeo\Vectra 2.0i at less than a year old from a supermarket with over 2 years' warranty to run. That's a more tempting offer for the family buyer than a nearly-5-year-old 50k BMW with no warranty and possibly heading for some big bills. A lot of the status-conscious have move on to 4x4's now too.
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Well thanks guys, at least you're being honest :(
I'm obviously going to have to set my sights lower. Interested that you suggest I'm heading for some big bills. I had heard that, as far as major wear & tear items on a BM were concerned, I ought to be pretty safe (touch wood) this side of 100,000 miles. Don't tell me, I'm being naive again.
Anybody out there with experience that suggests otherwise?
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Well thanks guys, at least you're being honest :( I'm obviously going to have to set my sights lower. Interested that you suggest I'm heading for some big bills. I had heard that, as far as major wear & tear items on a BM were concerned, I ought to be pretty safe (touch wood) this side of 100,000 miles. Don't tell me, I'm being naive again. Anybody out there with experience that suggests otherwise?
To be honest you *are* pretty safe to 100k. But you know the car and how its been treated. Your potential s/hand buyer might think differently and feel a lot safer with buying a car that has some kind of warranty. He is going to expect a 'discount' for the real or imagined risk of buying privately.
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By all means go to the BMW dealer, but also maybe ring round a couple of specialist non-franchise dealers that sell cars like yours, they operate on smaller margins than the franchise dealers, so they might offer you a better price.
Mike
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It's also worth making sure your presentation is as thorough if you're trying to sell to a dealer as it would be to a private punter. They're human, and a nice shiny, clean, cared for looking car with all its paperwork will attract a better offer than a dirty, unkempt one. Just don't expect more than book...
Another thought: I've sold things successfully through owners club / enthusiast web sites before. You could try:
www.bmwcarclubgb.co.uk/index.html
www.bmwland.co.uk/talker/index.php
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