Carmax?

[Wreck]

Anybody sold a car at Carmax? I was thinking about taking my 540ia to them for a quote. If nothing more than to have a little leverage with the dealer when trade-in time comes.

[paulalger]

I went to Carmax since they offer a higher trade in value than almost any dealer around due to their volume of sales. However, I called BMW financial and asked for their advise on the best route to trade in my 2000 540 for my upcoming '02 M5.

What they did was give me a "black book" value which surprisingly was higher, about $3,000, than Carmax's or any other offers I received. According to BMW, it is still up to the dealer to do a final inspection of the car before they accept the "black book" price.

I'll be turning in my 540 to the dealership when my M5 arrives hopefully mid Dec.

Good luck.

Paul

[dwasifar]

Until recently the Carmax in Kenosha, WI was a BMW dealership. I did some shopping there before I bought my beast, but when I was ready to buy, I called back and found they had given up their BMW franchise.

[DrRob]

Wreck,

In August, I sold my '95 540/6 with 74,000mi. The dealer quoted me $14,500 wholesale trade-in on a Z8. Doing my homework on Edmunds, NADA, and Kelly Blue Book, I came up with an average retail of $20,500 (they're all a little high IMO). I advertised for private sale at $20,200, and sold at $19,500, $5K over the dealer's offer.

I hate selling privately; you often have to weed through some half-hearted tire kickers, but I was fortunate to sell to the second looker.

Dealers get me! My car was immaculate, inside and out. They gave me a 6 out of 10 rating. I think they were comparing it to a brand new showroom car!

[dwasifar]

Oh, don't get me started on trade-in stories.

Too late, you already have.

Years ago I bought a Saturn and traded in a 6-year-old Mitsubishi Mirage on it. The fabled Saturn Buying Experience suddenly evaporated in the presence of the trade, and I found myself awash in traditional dealer BS. "Your trade has been repainted." Um, no it hasn't, and I've had it since it was new, so I think I'd know. "It has high miles." 6 years x national average 12K miles per year is 72K miles. The car had 71K - completely normal. "We'll offer you (a figure that was about half the book value)." No, I don't think so. "I'll go talk to my manager." Okay, you have five minutes. The manager appears: "Just as a favor to you, because we want your business, we'll offer you $200 more for your trade." Big whoop. We sit staring each other down, the manager and I, both with a dawning sense of familiarity. He gets it first - "Didn't I sell you this car six years ago when I was at Libertyville Mitsubishi?" You know, you did, and I remember it as the worst screwing I ever got on a car deal. I don't intend to let you do it to me twice on the same car. Goodbye.

Ironic outcome - I went to a different Saturn dealer, got the trade value I expected with no hassle, and paid less sales tax (different county). The new Saturn dealer occupied the building that, 6 years previously, had housed the Mitsubishi dealership, and when my new Saturn arrived I found it waiting for me in the same parking slot I'd driven the Mirage from six years earlier.

[Dallas Spikes]

Paul,

I was confused by your post, could you clarify it? Did you end up going with Carmax or BMW? It sounds like you went through BMW and they gave you a better price. Is this true? Have you contacted the dealer or just BMW finance?

Thanks,

Chris

[paulalger]

Chris,

Apologize if my previous post was unclear.

I haven't gone to the dealership yet to trade in my 540 until my M5 arrives. What I received from BMW Financial is a trade-in price that BMW dealerships should accept unless, of course, the car was abused, damaged, etc., which I'm sure will lower the trade in price. The agreed "Black Book" price from BMW Financial is good for 30 days only or 300 miles over the mileage disclosed initially.

Hope this helps. Let me know if you need anything else.

Paul