Well, I saw a 2007 550i in the area with 71,000 miles on it for $24,000.


Has navigation, step, cold weather, sport, premium, logic7, loaded to the hilt. Also has maintenance plan until 2012 or 100k.

I owe $18k on my 2004 530i that has 69,000 miles with none of the above options except premium and cold weather. (KBB trade-in value is at $19k)

In other words:

current car: $18,000
trade in: $19,000
550 asking: $24,000
$2,000 down
--------------------------------
$22k financed + tax / title / etc.

You guys think its a good idea to get this car? I'm guessing it might be.

 

check out the maintenance history, and see if it's been in any wrecks. if all that's ok then it sounds like a deal.

 

Is that not very high mileage? How many miles a year do you do?

If it's more than 6/7k a year, I wouldn't bother, as it's going to be worth pennies (cents) when you try to sell it on with over 100k on the clock.

 

Carfax: http://www.carfax.com/VehicleHistory/p/Rep...p;partner=DLR_3

Shows 2 previous owners and 2 accidents. eeekk!

 

Answers your question then....

That report is great, wish we had something like that over here.

We can only "HPI" www.hpi.co.uk which confirms the car is clear of finance, and not stolen etc, but the detail you get there is fantasic.

 

Yikes ... stay away. But it is interesting that both accidents happened before 25,000 miles, and then the car drove nearly another 50,000 miles! How bad could those accidents have been? Lot's of quality maintenance since then too.

Another option you may want to consider would be to find a nice E39 M5 for the same $24,000. There are lot's of well-kept ones around with 60,000 miles or so and priced at about $25,000. Nothing like driving an M!