All - I've been reading these posts and archives with great interest lately. The more I read, the more nervous I am that the $49.5k price I've agreed to pay for a non-CPO, stock, 24k mile '02 car is too high. The car itself just passed a dealer inspection with flying colors.
As with any product, the car you are looking at is worth whatever the market will bear. However, I have a saying; If you just have to have it, you are going to get it... if you know what I mean.
Testing the market is a tricky thing, you have to be willing to risk loosing the car to another buyer.
IMHO, assumming that this car is clean and problem free it is worth the money. KBB rates it at $52K for a private sale in excellent condition.
I paid that much for my wife's minivan, and it is nowhere near the fun!
Use GALVES as a source for used car prices, it's the most accurate
KBB tends to inflate the prices Check out this thread: How accurate is kelly blue book?
Last edited by Beamer_usa; 27th March 2005 at 19:47.
Given that the car is in pristine condition and passed inspection with "flying colors" and that you've already agreed to purchase it, I don't seen any cause for concern. Could you do better? Probably - if you have the time and it doesn't matter if you get the car now or in 6 months, and even then you might only save a couple grand. Remember - just because there might be better deals out there doesn't mean that your deal is bad. I've read of some incredible deals on this board, but almost by definition they're not the norm. So even if your price is higher than what some people here have paid for similar cars, that doesn't mean it's "too high".
Quote:
Originally Posted by mshea
All - I've been reading these posts and archives with great interest lately. The more I read, the more nervous I am that the $49.5k price I've agreed to pay for a non-CPO, stock, 24k mile '02 car is too high. The car itself just passed a dealer inspection with flying colors.
Am I being paranoid??
Anyone know of a better deal?
__________________
'02 M5 Sterling Grey/Black
'03 Audi Allroad Atlas Grey/Black
'03 Mini Cooper S Indy Blue/Black
'97 Toyota Landcruiser Grey/Tan
'04 Baby Boy
Like the others who have posted, I think your price is acceptable. The deciding factors for a car's price are it's condition, history, and your preference for certain color combinations. These variables can really influence a price. The only certainty is the longer you wait, the lower prices will fall. If you are going to be upset in 6 months that a car similar to yours is $3K less expensive, then wait.
I say that if the car is in great condition and you like it, go for it!
If you continue shopping, you can find a better deal -- maybe by as much as $5,000. It will probably require ~100 hours of looking/comparing/investigating and two months' time. So compare 100 hours ($50/hour) plus two months without an M5 versus the satisfaction of getting a better deal and having $5 large in your pocket. If you enjoy the hunt and hate leaving money on the table, keep looking. If you love to drive a powerful sports sedan and are sick of looking, pull the trigger and promise yourself you'll stop checking the "for sale" ads to prevent buyer's remorse.
I think the price is in line, but also agree with the other members - you can probably find a better deal but it will require a great deal of time. You sound convinced this is a mechanically sound vehicle that won't give you too much trouble, so if it's what you want buy it - the price isn't so far out of the ball park as to be outrageous.
I would ask: Is this car exactly what you want? Are the color combinations "ideal", and does it have the features you really want? If you cannot answer yes to these questions then you might resent it later (especially since you are questioning the price now).
Sounds like no one has a major problem with this $49.5k price....FYI..Galves values it at $43,750.
There is a '03 w/20k miles on eBay sporting a Dinan badge and Premium pkg. BIN price of $57.8k. Without any allowances, Galves values it at $49,950.
I can't tell for certain which Dinan upgrades the '03 includes. Aside from the Premium and Dinan gear, is there any compelling difference between an '02 and '03?
I'm simply looking for the best example I can find (by Monday!) below $55k +/- at the best price....
Check out this thread:
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