Used Car Price Surge

You · 05-22-2021, 05:10 PM

Anyone successfully take advantage of the surging prices of used cars to sell their X3M? Did you get above what you were expecting?

I bought my 2020 last year in July, have put a whole 1,500 miles on it since then. It's fun to drive when I do take it out, but it seems like a waste to keep it in the garage collecting dust.

allinon72 · 05-22-2021, 06:09 PM

See this thread:

X3M Values https://www.bimmerpost.com/forums/sh....php?t=1825587

If you're looking to sell, now is definitely the time.

Drexel_Lake · 05-22-2021, 06:43 PM

Just got $13500 trade in for our 2014 Ford Edge. We're happy with that.

harperium · 05-22-2021, 07:33 PM

Quote:

Originally Posted by Drexel_Lake

Just got $13500 trade in for our 2014 Ford Edge. We're happy with that.

I got a nice trade in value for my M40i and it got me my ‘21 X3MC

Drexel_Lake · 05-22-2021, 08:34 PM

Quote:

Originally Posted by harperium

I got a nice trade in value for my M40i and it got me my ‘21 X3MC

That's my plan in next year when I turn 59 1/2.

You · 05-22-2021, 09:01 PM

Quote:

Originally Posted by allinon72

See this thread:

X3M Values https://www.bimmerpost.com/forums/sh....php?t=1825587

If you're looking to sell, now is definitely the time.

Saw that thread after I posted this one. Pretty crazy what these companies are offering for the cars.

f82fanatic · 05-31-2021, 10:37 PM

I must have the least desirable BMW in the planet. An sdrive X5 from 2018. Not one of the dealer options is giving me more than the payoff. Lease is due end of August.

41k payoff and around 38k is the offer.

sittingmongoose · 05-31-2021, 11:43 PM

Quote:

Originally Posted by f82fanatic

I must have the least desirable BMW in the planet. An sdrive X5 from 2018. Not one of the dealer options is giving me more than the payoff. Lease is due end of August.

41k payoff and around 38k is the offer.

Did you try a different Avenue than a dealer? Like carvana, Carmax or similar?

f82fanatic · 06-01-2021, 12:19 AM

Quote:

Originally Posted by sittingmongoose

Quote:

Originally Posted by f82fanatic

I must have the least desirable BMW in the planet. An sdrive X5 from 2018. Not one of the dealer options is giving me more than the payoff. Lease is due end of August.

41k payoff and around 38k is the offer.

Did you try a different Avenue than a dealer? Like carvana, Carmax or similar?

I tried all of the ones that I could think of. Vroom, Carvana, GMTV, Carmax, Autonation, etc etc. About 7 of them.

My wife's car is a dog 🐕🐾

f82fanatic · 06-01-2021, 12:21 AM

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

Inglyaffect · 06-07-2021, 12:39 AM

I saw some good listings recently too. It's one of the cars I consider buying. One of my biggest mistakes was buying a Porsche that I thought would be a real catch. It turned out to have the engine, and from the $30,000 that I paid for it, I gave it away for $12,000. Since that time, I got better informed on what questions to ask when buying a used car on wealthtender.com, as the mistakes someone can make are way too many. It's always better to have a good mechanic that can take a quick look at the car and spot any issues right away! It's also useful to find a good article explaining all these points thoroughly.

boi222 · 06-07-2021, 05:57 AM

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

BMW Dealerships get a lower payoff but everyone else will get the same as you

j080808 · 06-07-2021, 10:58 AM

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

Im in Florida and Carvana is picking up Saturday.

Carvana is a dealer, so the payoff is less because there is no sales tax due. So whatever your BMWFS payoff paperwork quote is, subtract sales tax and add in the 350.00 lease end charge.

Drexel_Lake · 06-07-2021, 10:59 AM

No, but I bought a least repo with 9k miles.

f82fanatic · 06-12-2021, 01:52 PM

Quote:

Originally Posted by j080808

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

Im in Florida and Carvana is picking up Saturday.

Carvana is a dealer, so the payoff is less because there is no sales tax due. So whatever your BMWFS payoff paperwork quote is, subtract sales tax and add in the 350.00 lease end charge.

Yes! Thank you. Confirmed with Vroom, same thing!

j080808 · 06-15-2021, 05:35 PM

Market is softening.

Mid-May my offer was $70441, todays offer $66712.

f82fanatic · 06-15-2021, 05:45 PM

Quote:

Originally Posted by boi222

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

BMW Dealerships get a lower payoff but everyone else will get the same as you

This is actually wrong. The dealership gets the same price sana the tax. So there is a big advantage to selling the car direct to any dealer vis-à-vis buying it yourself and selling it afterwards.

boi222 · 06-15-2021, 06:08 PM

Quote:

Originally Posted by f82fanatic

Quote:

Originally Posted by boi222

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

BMW Dealerships get a lower payoff but everyone else will get the same as you

This is actually wrong. The dealership gets the same price sana the tax. So there is a big advantage to selling the car direct to any dealer vis-à-vis buying it yourself and selling it afterwards.

Pretty sure Bmw dealership have a different rate … search the forums for those wanting to buy out their lease, the dealership can give you a better deal versus buying out via Bmw financial direct

LimeRock · 06-15-2021, 06:26 PM

6800 miles on my '21 X3MC, dealer offered $69k and said they had "some room"

f82fanatic · 06-15-2021, 07:56 PM

Quote:

Originally Posted by boi222

Quote:

Originally Posted by f82fanatic

Quote:

Originally Posted by boi222

Quote:

Originally Posted by f82fanatic

By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not?

Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?

BMW Dealerships get a lower payoff but everyone else will get the same as you

This is actually wrong. The dealership gets the same price sana the tax. So there is a big advantage to selling the car direct to any dealer vis-à-vis buying it yourself and selling it afterwards.

Pretty sure Bmw dealership have a different rate … search the forums for those wanting to buy out their lease, the dealership can give you a better deal versus buying out via Bmw financial direct

What I meant was that the rate for buying myself is different than that for any other dealer. I have an example I just got quoted.

The BMW dealership probably has a lower payoff than that of vroom/other dealerships.

So, basically, I believe this is the case in terms of payoff price, from lower to higher:

BMW < other dealer < personal purchase

Other dealers have a lower payoff than the owner buying the car because they are exempt from paying tax on the car.

The problem with a BMW dealership is that the one I talked to would not buy my car, only trade it in. Maybe it is different in others.

BMWsully · 06-15-2021, 09:41 PM

I've put my loaded 21 X3Mc with 400 miles through every online car buying site imaginable and the best offer thus far has been 70k. So either the market is softening big time or some of the previous offers we've seen on here we're unicorns.

LimeRock · 06-15-2021, 10:26 PM

Quote:

Originally Posted by BMWsully

I've put my loaded 21 X3Mc with 400 miles through every online car buying site imaginable and the best offer thus far has been 70k. So either the market is softening big time or some of the previous offers we've seen on here we're unicorns.

That’s so interesting…we’re basically at the same value, but I have 6k more miles. The whole used car market (and broader market) is not only inflated, but inconsistent.

I’ve been helping a buddy look for a 991.2 GT3, and prices are in the $200s. The strange part is that RS models aren’t that far off. So the price delta between the RS and “regular” GT3 has decreased, but the underlying production split hasn’t changed AND the low end of that market edged up. None of it makes sense.

05-22-2021, 05:10 PM	#1
You Enlisted Member 5 Rep 35 Posts Drives: BMW X3M Comp Join Date: Dec 2019 Location: New York iTrader: (0)	Used Car Price Surge Anyone successfully take advantage of the surging prices of used cars to sell their X3M? Did you get above what you were expecting? I bought my 2020 last year in July, have put a whole 1,500 miles on it since then. It's fun to drive when I do take it out, but it seems like a waste to keep it in the garage collecting dust.
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05-22-2021, 06:09 PM	#2
allinon72 Brigadier General 4909 Rep 3,794 Posts Drives: 20' M2C, 23' X1 Join Date: May 2017 Location: Indianapolis, IN iTrader: (2)	See this thread: X3M Values https://www.bimmerpost.com/forums/sh....php?t=1825587 If you're looking to sell, now is definitely the time.
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05-22-2021, 06:43 PM	#3
Drexel_Lake Private 24 Rep 92 Posts Drives: BMW X3 M40i 330cic Join Date: May 2021 Location: South Carolina USA iTrader: (0) Garage List 2020 BMW X3 M40i [10.00] 2005 BMW 330ci [5.00]	Just got $13500 trade in for our 2014 Ford Edge. We're happy with that. __________________ 2020 X3 M40i Blue 2005 Supercharged 330ci Silver/Black vert.
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05-31-2021, 10:37 PM	#7
f82fanatic Major 1043 Rep 1,390 Posts Drives: iX Join Date: Feb 2015 Location: Miami, FL iTrader: (0)	I must have the least desirable BMW in the planet. An sdrive X5 from 2018. Not one of the dealer options is giving me more than the payoff. Lease is due end of August. 41k payoff and around 38k is the offer.
	Appreciate 0 Quote

06-01-2021, 12:21 AM	#10
f82fanatic Major 1043 Rep 1,390 Posts Drives: iX Join Date: Feb 2015 Location: Miami, FL iTrader: (0)	By the way, has anyone from FL tried returning a lease early? Do you know the dealer adds a tax charge to the payoff or not? Also, does BMWFS normally give a lower or higher payoff amount to, let's say, Carvana, than to me as the lessor?
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06-07-2021, 12:39 AM	#11
Inglyaffect Registered 0 Rep 1 Posts Drives: BMW X3 Join Date: Jun 2021 Location: London iTrader: (0)	I saw some good listings recently too. It's one of the cars I consider buying. One of my biggest mistakes was buying a Porsche that I thought would be a real catch. It turned out to have the engine, and from the $30,000 that I paid for it, I gave it away for $12,000. Since that time, I got better informed on what questions to ask when buying a used car on wealthtender.com, as the mistakes someone can make are way too many. It's always better to have a good mechanic that can take a quick look at the car and spot any issues right away! It's also useful to find a good article explaining all these points thoroughly. Last edited by Inglyaffect; 06-09-2021 at 11:27 PM..
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06-07-2021, 10:59 AM	#14
Drexel_Lake Private 24 Rep 92 Posts Drives: BMW X3 M40i 330cic Join Date: May 2021 Location: South Carolina USA iTrader: (0) Garage List 2020 BMW X3 M40i [10.00] 2005 BMW 330ci [5.00]	No, but I bought a least repo with 9k miles. __________________ 2020 X3 M40i Blue 2005 Supercharged 330ci Silver/Black vert.
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06-15-2021, 05:35 PM	#16
j080808 USA 129 Rep 217 Posts Drives: X5 M50i, 440i Join Date: Jun 2017 Location: Midwest iTrader: (2)	Market is softening. Mid-May my offer was $70441, todays offer $66712.
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06-15-2021, 06:26 PM	#19
LimeRock Lieutenant 672 Rep 405 Posts Drives: BMW & Porsche Join Date: Dec 2020 Location: Windy City iTrader: (0)	6800 miles on my '21 X3MC, dealer offered $69k and said they had "some room" __________________ Current: G87 M2 on deposit, 992 Carrera T incoming Past: 997.2 911 Carrera S, Macan Turbo, G80 M3 Competition, X3M Competition, OG M2, MK6 GTI
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06-15-2021, 09:41 PM	#21
BMWsully Second Lieutenant 164 Rep 258 Posts Drives: M3 Join Date: Sep 2011 Location: Pittsburgh iTrader: (0)	I've put my loaded 21 X3Mc with 400 miles through every online car buying site imaginable and the best offer thus far has been 70k. So either the market is softening big time or some of the previous offers we've seen on here we're unicorns.
	Appreciate 0 Quote