[tinasx3]

I should be taking delivery of a new X3 in late Jan. The car is on its way to the West Coast right now. Getting excited!!!

For those of you that traded-in your old vehicle or dealt with financing, can you advise if all these details were handled on the same day as you took delivery? Or did you have separate visits with BMW financing or your CA to take care of trade-in and financing BEFORE delivery?

I did advise that I have a vehicle to trade-in but I kept this topic and the financing issue separate from the car price negotiation. I prefer to trade-in my current car with the dealer. Should I call my CA now and take care of trade-in value on my current car?

If anyone can share their previous experience, it would be appreciated.

[greg2step]

I did not use BMW financing as I bought my X3 w/ home equity money, however I negotiated my trade in when I ordered my X3 and put the deposit down. Actually trade in value made me switch dealerships over a slight discreprency $3500 on what my 328xi was worth....

probably too late for you at this point, however definately get an appraisal from CarMax before that trade in - gives you an option if your dealer wants to low-ball it.

[tinasx3]

Thanks for taking time to reply

The Carmax appraisal is a good idea that I'll look into. Too bad the closest Carmax is 70+ miles away from me.

I am probably going to do an auto loan with a credit union, but the approval is only good for 30 days. Since the car is still in transit and I only have an estimated delivery date, I just have to wait until I get notification that the X3 is really at the dealership.

[02420X3]

I've written and canceled responses to this post at least three times. I can't bite my tongue any longer. Are you seriously planning to trade in a vehicle at delivery time that you don't already have an agreed trade-in value for?

[tinasx3]

I was not planning on negotiating the trade-in value on the actual delivery day. I know the book value of my car and possible private party sale value so I've got an idea of the value range.

I welcome comments from everyone as long as it's given in a polite and courteous manner.

I hope people are not turned off by my original post but I am only soliciting knowledge from others who are more experienced in these transactions. My last car purchase was 10 years ago and I had no trade-in at that time. Hence, I'm still a newbie on these types of things.

I am happy with the X3 car price that was finalized. But during that agonizing process, the dealer tried to make price contingent on BMW financing. I did not want to enter this type of "shell" game with the dealer: this price if financing, this price if no financing, etc. The dealer's offer was fairly aggressive so I didn't want to lose this by hashing over a trade in. So I requested to just focus on car price in my negotiation and got what I wanted. I realize it could be a mis-step to not have been more aggressive about trade-in at the same time.

[bren]

Originally Posted by tinasx3

I know the book value of my car and possible private party sale value so I've got an idea of the value range.

You will most likely find that to be irrelevant. The dealer is going to go off of black book/auction pricing. Most times you are lucky to get an offer at KBB "poor" trade-in value. Unless you have a newer, desirable model they most likely don't even want to bother with it and since they already have the new car ordered they have little incentive to work with you.

[n55x3]

While I don't really know what car you are looking to trade in Carmax might be a good option for you.

We wanted to trade in my wife's old car but the BMW dealer was way too low. We had a good idea of what the private party value was but before we put it on the market we went to a local Carmax lot. They appraised the car at $2.5k over what we were planning on selling privately. Their offer was valid for 7 days and they handle all the title transfer and everything. Was very painless and when we dropped off the car we had a check in hand for nearly $13k.

[greg2step]

I would say the trip to carmax is worth the ride - may or may not save you alot - it won't hurt other than the time to go over there. Many dealers will match a carmax appraisal - it definately got me more money.

as for book values who knows - they always say they are a joke on the east coast, those values may be more accurate in CA but i don't know.

I have to admit I share some of 02420X3's surprise at this thread - for me the trade in value was THE deciding factor in which BMW dealership I bought from locally... and the difference was $3500 - when the 2nd dealer matched CarMax and the first dealer thought they could earn my business w/ a low ball trade in allowance. That same dealer also suggested they couldn't lock in an allowance for the 30 days it took for my X3 to be built and delivered, and the dealer I bought from was willing to match carmax and hold the price while i waited for the X3.

[jsublime]

Originally Posted by 02420X3

I've written and canceled responses to this post at least three times. I can't bite my tongue any longer. Are you seriously planning to trade in a vehicle at delivery time that you don't already have an agreed trade-in value for?

Yep agreed. The dealer can hold your car hostage on delivery day. As others have said, take it to carmax a few days before your delivery. Then you can offer the dealership to match, if they don't, just drive away happy in your new X3 and take the old car back to carmax.

[greg2step]

Originally Posted by jsublime

Yep agreed. The dealer can hold your car hostage on delivery day. As others have said, take it to carmax a few days before your delivery. Then you can offer the dealership to match, if they don't, just drive away happy in your new X3 and take the old car back to carmax.

Depending on your state sales tax law that may not be a perfect solution either - In Maryland where I live and many other states, you pay sales tax on purchase price less trade in. So by getting the dealer to match Carmax was worth about $1000 more than taking it to CarMax - however if the dealer comes in a few thousand less than CarMax atleast you have an option.

[npcars]

OP to answer part of your original question, YES they will appraise and do all of the paperwork on the same day. They did for me, and I went on a Saturday. I didn't think the appraiser would be around

[n55x3]

Originally Posted by npcars

OP to answer part of your original question, YES they will appraise and do all of the paperwork on the same day. They did for me, and I went on a Saturday. I didn't think the appraiser would be around

Yeah it probably depends on how busy they are but we also went on a Saturday, they were decently busy but within a few minutes we had an associate approach us, we told them we were here to appraise the car and within less than an hour we had a written offer in hand.

They basically do a title check, pull it in the garage for a quick mechanical inspection then do a short test drive.

I would say it is definitely worth the 140 mile round trip to chekc it out.