BMW Dealer Wants my 1M !!

[champignon]

THE VALUE OF YOUR 2011 BMW 1 SERIES M IS NOW AVAILABLE.


Dear XXX,


We have updated your vehicle's trade value. Click below to visit your personal website at XXX BMW of XXX to see for yourself how much it is worth.



2011 BMW 1 Series M Edit Profile

Estimated Trade-in Value
$35,217 - $42,822
Estimated Mileage
34,215

[Cogitoergosum]

The value is a joke. I'm a bit scared that I'm under insured now if that's their number based on KBB.

[PRTSB1M]

The dealer doesn't want your 1M. A person who knows what is selling in the market is trying to get you to trade your car for the much less desired F/G series cars they are having trouble selling.

[markslc1]

Originally Posted by Cogitoergosum

The value is a joke. I'm a bit scared that I'm under insured now if that's their number based on KBB.

A serious consideration. My Allstate agent directed me to haggerty since I wanted a $70k value policy. And the pricing was the same as I was paying with Allstate with the lower coverage. Go for it!

[champignon]

Originally Posted by PRTSB1M

The dealer doesn't want your 1M. A person who knows what is selling in the market is trying to get you to trade your car for the much less desired F/G series cars they are having trouble selling.

Well obviously they are farting up the wrong tailpipe if they think that any sane owner of 1M with the mileage or condition that mine has, would trade it in or sell it for that value. I thought it was funny and that's why I posted it.

I doubt that email was sent by the local dealer, who I still use for service. It looks a lot like the other clueless emails I receive from BMW, which frequently suggest that I might need service a few months after I just had the car serviced.

It's incredibly unlikely that someone owning a lower mileage 1M in good condition, would trade it into a dealer at all, unless perhaps it was a Porsche or other exotics dealer who offered something approaching the real value of the car.

At this stage you would have to be certifiably insane to trade a 1M in on anything that BMW is producing now.

[champignon]

Originally Posted by markslc1

A serious consideration. My Allstate agent directed me to haggerty since I wanted a $70k value policy. And the pricing was the same as I was paying with Allstate with the lower coverage. Go for it!

I have "agreed value" insurance with Safeco on all of my cars that are over 10 years old, including my 1M. They will offer it on virtually any car insured as a "Classic Car." My 1M is now insured for $58,500, which I thought was high last spring but perhaps should be increased. Safeco did not flinch when I requested that amount. Classic Car insurance with Safeco requires that you limit your annual mileage on the car (in my case I think the limits are 3000 miles/year, which I would not exceed in any event because I have too many cars).

[CarJunkie]

Originally Posted by champignon

I have "agreed value" insurance with Safeco on all of my cars that are over 10 years old, including my 1M. They will offer it on virtually any car insured as a "Classic Car." My 1M is now insured for $58,500, which I thought was high last spring but perhaps should be increased. Safeco did not flinch when I requested that amount. Classic Car insurance with Safeco requires that you limit your annual mileage on the car (in my case I think the limits are 3000 miles/year, which I would not exceed in any event because I have too many cars).

I wonder how they consider track mileage. Obviously they would not cover track damages. I think I am putting less than 3000 road miles per year on my 1M, but I may be over that limit with track miles included. Safeco insurance combined with track day insurance for the events I do may end up being cheaper than what I'm paying now.

[champignon]

Originally Posted by CarJunkie

I wonder how they consider track mileage. Obviously they would not cover track damages. I think I am putting less than 3000 road miles per year on my 1M, but I may be over that limit with track miles included. Safeco insurance combined with track day insurance for the events I do may end up being cheaper than what I'm paying now.

I'm just guessing, but if you can get separate track day insurance, so that you wouldn't ever file a claim for track damages, I would not mention to a car insurance provider that I tracked the car.

They don't check you mileage driven very often, and it is on the honor system.