[Shaw]

I know this might have been asked many times...
I am probably looking at purchasing the new X5 (replacing the X3).
My 2011 X3 28i's mileage has only 19,000km (12,000miles) on it...so a very attractive used car.
The dealer is suggesting a price that I think is $4-5k lower than market value. I know they offer wholesale auction prices...
I'm also aware of the tax saving incentives that I get by trade-in.
So typically the question is, does it make sense to sell the car private and get more money or do the trade-in. I've never sold a car private before so any thoughts from experienced folks here is much appreciated...

[MrFargo13]

Just remember that your dealer can make money off you in 4 ways:

1. Price of new car
2. Trade-in value
3. Financing
4. Extended Warranty/maintenance agreements

Every element that you can remove from the purchasing experience saves you money and makes you less likely to be the poor pigeon that pays their bills.

Avoid the trade-in but if you still want to try, then start out working with a dealer that's far off from where you live. Do some good negotiating and then take their trade-in offer to the next dealer.
Also go to Edmunds True Market Value for used cars and see what people are willing to pay for your existing car.
Do the same thing for the new car price.
If you have Costco up there, they have a decent car buying program that can at least get you a respectable price to use when negotiating with others. Also deal only with the price of the new car first. Don't let them know you have a trade-in until you are satisfied with the price.

Also check out the financing from your local credit union (do you have those in Canada?)

You can always buy the maintenance agreements at a later date or from another dealer.
Time is on your side (if you take your time).

Never be afraid to walk.

Lastly, if you decide to sell it yourself, then decide exactly what you want and then contact several dealers by email. Tell them you are ready to buy today and you are looking to get the best price with no second chances. I went to six different dealers for mine and got a range of prices of over $2000 difference. I then took the best price (detailed written price including all taxes and fees) to my nearest dealer and they matched it and gave me a build date of less than a week.
I received a 7% discount which I've heard is about as good as you can get.

[Amber]

I would suggest you sell privately. use auto traders or other car advertising. Make sure your X3 is spotless. It may take some time but the buyers are there, forget the dealers.
After you get the $$ purchase a used X3 in the US. You can't buy new but you can find one with very low miles. My 2012 purchased in the US had only 400 miles, yes 400 miles on it. This is rare but be patient and the beauties are there.

[Shaw]

Originally Posted by Amber

I would suggest you sell privately. use auto traders or other car advertising. Make sure your X3 is spotless. It may take some time but the buyers are there, forget the dealers.
After you get the $$ purchase a used X3 in the US. You can't buy new but you can find one with very low miles. My 2012 purchased in the US had only 400 miles, yes 400 miles on it. This is rare but be patient and the beauties are there.

I'm selling my X3 and I want to buy the new X5 (in Diesel) which is not yet in the market...so there are no 2nd hands.