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Discussion Starter · #1 ·
I have had my 2000 M5 for sale for about six weeks. As I'm sure is true of most everyone on this board, the car is very clean, very well maintained and has less than 7000 miles. I have a 2001 on the way but must sell the 2000 first.

The car is listed in a local newspaper (Portland, Oregon), AutoTrader.com and on this site. I'm asking $79,900 but will take $78,000. I believe that is reasonable for this car in today's market and it simply represents my costs - no profit for me.

So far, I have had several lookers who say they are interested and never call back. One broker called, made an aggressive offer and when I went to accept his deal, said the market had dropped out, Z8's were hot and lowered his price $10K. Another individual test drove the car then went to a local dealer and got on their waiting list for a new one. Yet another individual made an offer and we were to exchange title for a check at his bank today. He then said he didnt want to meet at his bank and offered to meet at mine. OK. Then is was too far for him to drive (15 minutes!). He has no U.S. address, no U.S. employement and drives a car registered in Europe (how did he get a non-U.S. Maseati on U.S. roads???). He wouldn't show ID and only provided a cellular phone number. Needless to say, I was feeling very stressed about this deal. Anyway, when he finally refused to handle the transaction at a financial institution, I walked.

The local dealers won't handle the car above MSRP as they will sell new one at MSRP. They both offered ~$4K below MSRP on trade (~$68K). They suggested I take the car to Southern California and sell it there. I'd be willing to do that but who will take care of the transaction and how much will they charge?

I'm asking for suggestions and opinions. Has anyone else had this much difficulty selling their M5? Am I asking too much for the car? Is there some better way to sell?

Confidential thoughts can be e-mailed to [email protected]

Thanks in advance.

Bob
 

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That overseas guy is creepy. Those are the types that take your car to the docks the same night...

Sometimes money isn't part of the equation....


Alps
 

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Discussion Starter · #3 ·
Yes, I agree. Not only would the car be at the dock that night, but he could "disappear" without a trace. No thanks.

By the way, since you are from B.C., you may be interested to know the broker says he can get new M5's from Canada below U.S. MSRP. That's another reason why he dropped his buy price on my used U.S. model. Is demand in Canada that low?

Of course, my bigger question remains: how does one sell an M5 at a fair price with minimal risk?

Bob
 

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Try E-bay its worth a try !
 

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What about Cali, specifically Sillicon Valley? Are the $80 - $95k asking prices we've been hearing about hot air?

I also think you should definitely try Ebay!
However I would move fast, before the '01 start hitting the docks.

Trust your instincts, watch out for shady characters.

Max
 

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I tried eBay once (1-2 months ago) on mine with 10,000Miles and I was asking $70,000 with ZERO bids.

I know my mileage is towards the high end but I don't expect ZERO bids at $70,000 either.

You might wanna start low with a reasonable reserve.

Those were the days I dreamt I could replace my 2000 with 2001 without losing any $$.
However, this may still be the case in US.

The Canadian M5 market (East Side) is DEFINITELY slow. One dealership I frequent has a Silverstone M5 (one of the most sought colour) sitting there for over 3 weeks because the original buyer crapped out and the dealership is only asking MSRP.
Then I know of a friend who really wants one and I referred him to the dealership.

Alpy, you can fill in the West Coast market details.

P.S. BTW, Alpy, I am heading to Vancouver Oct 13-16. Wanna meet up?
[email protected]
 

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I think the problem you are encountering is that if someone can afford the 78k for a used car, they might as well go get it for that or a little more as a new car, and even a new car and new model year car.

the thing about the dealers not above MSRP is not really accurate. at least on the east coast, they wont sell a new car for msrp but they will sell a used car way above it. you might want to try the dealers in ca and ny to see if they are interested. that means a big logistical headache.

I wish you good luck.

ME
 

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I get the feeling that the "Over MSRP" days are growing short... Allison BMW in Mt. View CA it trying to sell a 2000 M5 for over a month now (@$95k!)... Is it possible that BMW increased allocations for the US?

Maybe the soft stock market causes more people to cancle thier orders.... It would be nice to see the good ol'days when dealers actually wanted your business, unlike today where they piss all over you...
 

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Originally posted by bob:
Bob,

Call Robert Linginfelter at Crevier BMW in Santa Ana. He sold a used M5 last weekend for $86k. He has told me he can sell used M5s with under 6k miles for around $85k and I believe him. I am trading my 2000 in for a 2001 as soon as they get allocation for a $5000 profit and all I really wanted to do was get the options I originally wanted and break even. But don't get me wrong, I will take the $5000 thank you very much!

Mark


I have had my 2000 M5 for sale for about six weeks. As I'm sure is true of most everyone on this board, the car is very clean, very well maintained and has less than 7000 miles. I have a 2001 on the way but must sell the 2000 first.

The car is listed in a local newspaper (Portland, Oregon), AutoTrader.com and on this site. I'm asking $79,900 but will take $78,000. I believe that is reasonable for this car in today's market and it simply represents my costs - no profit for me.

So far, I have had several lookers who say they are interested and never call back. One broker called, made an aggressive offer and when I went to accept his deal, said the market had dropped out, Z8's were hot and lowered his price $10K. Another individual test drove the car then went to a local dealer and got on their waiting list for a new one. Yet another individual made an offer and we were to exchange title for a check at his bank today. He then said he didnt want to meet at his bank and offered to meet at mine. OK. Then is was too far for him to drive (15 minutes!). He has no U.S. address, no U.S. employement and drives a car registered in Europe (how did he get a non-U.S. Maseati on U.S. roads???). He wouldn't show ID and only provided a cellular phone number. Needless to say, I was feeling very stressed about this deal. Anyway, when he finally refused to handle the transaction at a financial institution, I walked.

The local dealers won't handle the car above MSRP as they will sell new one at MSRP. They both offered ~$4K below MSRP on trade (~$68K). They suggested I take the car to Southern California and sell it there. I'd be willing to do that but who will take care of the transaction and how much will they charge?

I'm asking for suggestions and opinions. Has anyone else had this much difficulty selling their M5? Am I asking too much for the car? Is there some better way to sell?

Confidential thoughts can be e-mailed to [email protected]

Thanks in advance.

Bob
 

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I don't want to offend anyone on this board, but it should come as no surprise that your car has not appreciated in value from MSRP since your purchase. As much as dealers would like you to believe that the cars should command a premium over sticker, market realities dictate otherwise. In my neck of the woods at least (Kentucky), M5's have been available at MSRP since the beginning, albeit with a modest wait (few months, not years). In hotter markets such as Cali and the East Coast, greedy dealers have taken advantage of buyers' impatience to charge a ridiculous premium. A 2000 M5 is a sweet car to be sure, but it is simply a used car, and last year's model at that. "There are plenty more where that one came from." I suspect a similar situation will occur to an individual who buys a 2001 Porsche turbo from an outfit like Motorcars International for $169,000 (sticker about $114,000) instead of waiting for one at an authorized dealer. There is nothing wrong with ponying up extra up front to avoid a wait - as long as you realize this money is probably gone when it comes time to sell. I recently bought a 2000 Mercedes S500 while waiting on my 2001 S55 to arrive; clearly, I'll take a bit of a hit on the trade up. Warm regards, AD. (Why not just keep the 2000 model?)
 

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Discussion Starter · #11 ·
Mark,

I have called Robert Linginfelter and he seems interested in purchasing the car but needs to talk to the owners. We will see what that means tomorrow. Can I ask how much he is paying to buy your used M5 and with what mileage?

AD,

Your comments are well taken. But, it's hard to let any car go at a loss when the same vehicle is selling for huge markups just one thousand miles away. If all else fails, I will keep the 2000 model.

Bob
 
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