Drove MY First 135i DCT: Decisions!!

[hpowders]

Yesterday I drove my 2007 328i, 135 (!!!) miles to test drive the only 135i coupe with DCT in my area.

After sitting in the car I practically got freaked out by the sci fi-like DCT computerized shifter. But, after a few tries, found it easy to learn, although it is counter-intuitive.

The car is Alpine White, M sport, Premium, ipod, sat. and DCT. The MSRP was around $42k.

That shifter is growing on me. I can't get it out of my bloody head! I've never seen anything so sleek and modern.

I would probably get $19k for my 2007 328i with AT, Premium, Sport, Cold Weather, xenon and back up sensors.

I would like to pay no more than $40k.

I told them I would think about it this weekend.

Financing sounds good at 1.9%.

Suggestions?

[hpowders]

Originally Posted by maxnix

Order one from anywhere and take PC delivery. Sell your car out right, don't trade.

I was thinking of ordering one too. The sales guy let me floor it with the DCT quite a few times. I can imagine how much abuse this car has had already in just a few short months! They don't give a crap about proper break in. I would have to consider this car to be a fairly new "demo".

Selling my car outright is tougher than it sounds. My car is in first class condition, but there are so many 2007 328i's for sale, it's ridiculous!

[Red Bread]

Originally Posted by maxnix

Yeah, but there is still a market and if you price it right, its condition will sell it quickly and you will be at least $3K - $5K over trade in value.

Trade-in is a trap for the unwary.

To a point, but don't forget the tax benefit of a trade-in, especially useful in places with a high sales tax on new cars (TX is 6.25%, CA is 8.5%, and both have additional city and county taxes). So here's an example:

Private Sale
$24,000

Trade-In
$22,000 Plus reduction in sales tax on new car ($22,000*tax rate, 6.25% for example)
$1,375
Net $23,375, or $625 less than private sale.

It's up to the seller to determine the gap in trade in and private sale, what the applicable tax rates are and what their time is worth in regards to executing a private sale.

[hpowders]

I see cars dying on Autotrader as folks price their used cars pretty similar to what the dealers are selling comparable vehicles for as CPO's.

There's too much of a used car glut. You want to sell, you must come down on price. Might as well trade it in.

[FJUNO78]

Originally Posted by hpowders

I see cars dying on Autotrader as folks price their used cars pretty similar to what the dealers are selling comparable vehicles for as CPO's.

There's too much of a used car glut. You want to sell, you must come down on price. Might as well trade it in.

agreed... If I was in the market for a used car I would rather go to the dealer for CPO route... I am not sure what the market is for a 3 year old 328i... As a consumer, you can probably get something newer, with a full warranty for the same cash.. (not a BMW)

[fancyfl1ght]

Originally Posted by hpowders

Yesterday I drove my 2007 328i, 135 (!!!) miles to test drive the only 135i coupe with DCT in my area.

After sitting in the car I practically got freaked out by the sci fi-like DCT computerized shifter. But, after a few tries, found it easy to learn, although it is counter-intuitive.

The car is Alpine White, M sport, Premium, ipod, sat. and DCT. The MSRP was around $42k.

That shifter is growing on me. I can't get it out of my bloody head! I've never seen anything so sleek and modern.

I would probably get $19k for my 2007 328i with AT, Premium, Sport, Cold Weather, xenon and back up sensors.

I would like to pay no more than $40k.

I told them I would think about it this weekend.

Financing sounds good at 1.9%.

Suggestions?

1. Goto CarMax and get it appraised. Hold onto the appraisal since it is good for 7 days.

2. Go back to the dealer who has the car you like. Ask him to appraise it as well. Make sure it is a BIG auto dealer like a dealership affiliated with AutoNation.

3. If the numbers are close, do the trade. If not, find another dealer.

4. Negotiate price on the 135i. If you finance with the BMW dealer, they will cut you a break on the MSRP, believing that they can get their money back with the financing, but with 1.9% interest, the money is practically free.

5. Drive home happy, and know that if you did a private party sale, it would have taken longer and you would never know if the price was right.

I tried a private party sale when the interest rates were low, so I did get a slightly higher price, but in this market, I doubt you will get more unless you strike it lucky with an all cash buyer.

ADVANCED TACTIC (Use only if you have a super high FICO score and get big year end bonuses like me)

1. Ask for BMW Select Financing.

2. Ask the dealer to compute the lowest monthly payment that BMW Select Financing can take with your trade-in value. Generally, BMW Select will work at the maximum to about 1/3 of the total value of the car. For example, if the new car is worth 50K, you can only put down 20K of your trade.

Get this, if your trade is worth more than 20K, the dealer has to pay you cash back!

3. Drive the car like you stole it from the dealership. Depending on the value of the trade, you will walk away with cash in hand to buy whatever accessories you want.

4. Pay off Balloon Note when bonus comes in and enjoy the exceedingly low monthly payments.

REMEMBER: DO NOT CHOSE BMW SELECT FINANCING UNLESS YOU HAVE A HIGH FICO SCORE AND A PREDICTABLE BIG BONUS COMING TO YOU.

[hpowders]

Originally Posted by fancyfl1ght

1. Goto CarMax and get it appraised. Hold onto the appraisal since it is good for 7 days.

2. Go back to the dealer who has the car you like. Ask him to appraise it as well. Make sure it is a BIG auto dealer like a dealership affiliated with AutoNation.

3. If the numbers are close, do the trade. If not, find another dealer.

4. Negotiate price on the 135i. If you finance with the BMW dealer, they will cut you a break on the MSRP, believing that they can get their money back with the financing, but with 1.9% interest, the money is practically free.

5. Drive home happy, and know that if you did a private party sale, it would have taken longer and you would never know if the price was right.

I tried a private party sale when the interest rates were low, so I did get a slightly higher price, but in this market, I doubt you will get more unless you strike it lucky with an all cash buyer.

ADVANCED TACTIC (Use only if you have a super high FICO score and get big year end bonuses like me)

1. Ask for BMW Select Financing.

2. As the dealer to compute the lowest monthly payment that BMW Select Financing can take with your trade-in value. Generally, BMW Select will work at the maximum to about 1/3 of the total value of the car. For example, if the car is worth 50K, you can only put down 20K of your trade.

Get this, if your trade is worth more than 20K, the dealer has to pay you cash back!

3. Drive the car like you stole it from the dealership. Depending on the value of the trade, you will walk away with cash in hand to buy whatever accessories you want.

4. Pay off Balloon Note when bonus comes in and enjoy the exceedingly low monthly payments.

REMEMBER: DO NOT CHOSE BMW SELECT FINANCING UNLESS YOU HAVE A HIGH FICO SCORE AND A PREDICTABLE BIG BONUS COMING TO YOU.

Thanks for all that.

I was thinking of doing just what you say-take my 328i to the nearest CarMax and get their price so at least I would have a frame of reference. You can't do it on the web. Those values are all over the place-mostly in fantasyland on the high side.

My FICO is close to 800. I got approved by Porsche Financial in a few minutes for a Cayman CPO, but I backed out.

There are too many 328i's sitting there on Autotrader as many owners ask for dealer CPO prices. They will never sell them.

[jpd]

Take it to your dealer and have their buyer give you a price. I'm surprised you seem to have bypassed this first step. I sold my 08 to the dealer and got a decent price. The car was CPOd by them and sold in ten days. You never know until you have a firm price. I tried selling privately and spent almost $200 advertising and never got a single response.

[hpowders]

Okay. I will keep that in mind.