Quote:
Originally Posted by Freakazoid
16k after 5 years? I don't see how that's possible
After 3 years they're still worth 25k+ I don't see another 10k drop in the next 2 years?
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I sold my 2008 128i sport a about 9 months ago. It was about 20 months old, had 20k miles, excellent condition, well taken care of.
M/T, sport, leather, power/heated seats, comfort access, xenons, MSRP was about $35k and price paid after taxes, etc was about the same.
Carmax offered $21k (60% of MSRP) and ended up selling it locally for $24k (69%). I had time constraints (moving abroad), but it wasn't going to get too much better than that. You can argue some of the options are what depreciated most, but it is less options than a car off the lot in most cases.
Also, don't underestimate how much of a hit the resale price will take one the factory warranty is over.
You would be extremely lucky to get over 50% of the MSRP back after 5 years with normal mileage. $16k from a $40k MSRP car may be a bit low (40%), but I wouldn't doubt it if it was sold to Carmax/dealer and the car had 50k+ miles.
Just take a look at the prices Carmax is selling 07/08 335's for... $23-24k for mileages between 40-60k with premium package etc. MSRP was about $41k and these cars were probably $45k+ with options. Carmax would probably be buying for about $18-20k. In the private market, maybe you split the different and get $21k, but that's still less than 1/2 of MSRP.
Who knows, I could be wrong.