Gotta Say Goodbye to 550
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Joined: Jun 2005
Posts: 17
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From: Chicago, IL
My Ride: 2006 550I Manual White/Black 6Speed Sport
Wanted to send a quick note to thank those members of this forum that have responded to my inquiries and provided some great insight. Your feedback has helped me enjoy the time I had with my 550i.
I wanted to share some feedback regarding the market value for used 550i. My vehicle, 2006 White/Black 550I 6 speed with Sport, Nav, and all the goodies, with 5K miles has a value of $52K. The sticker was $64K so I find 12K of depreciation over 7 months as a little excessive. What happened to BMW's strong resale value. Guess its not true on our 5. :thumbsdown:
I did enjoy my 545i and my 550i as well. Taking the plunge and bought a 997 S. Giving up a little luxury for more speed.
I wanted to share some feedback regarding the market value for used 550i. My vehicle, 2006 White/Black 550I 6 speed with Sport, Nav, and all the goodies, with 5K miles has a value of $52K. The sticker was $64K so I find 12K of depreciation over 7 months as a little excessive. What happened to BMW's strong resale value. Guess its not true on our 5. :thumbsdown:
I did enjoy my 545i and my 550i as well. Taking the plunge and bought a 997 S. Giving up a little luxury for more speed.
Thread Starter
Members
Joined: Jun 2005
Posts: 17
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From: Chicago, IL
My Ride: 2006 550I Manual White/Black 6Speed Sport
Originally Posted by carfreak' post='307277' date='Jul 5 2006, 09:11 PM
Did you sell it privately or trade in? If trade in, then it's about right.
Congrats on the Porsche
Congrats on the Porsche
Yes, I did trade the vehicle to a dealer down in Florida. Figured that they could find a fanatic like me that needs a Business Man's Special, White Sedan, 365HP 6speed.
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Members
Joined: Jun 2005
Posts: 17
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From: Chicago, IL
My Ride: 2006 550I Manual White/Black 6Speed Sport
Originally Posted by EBMCS03' post='307282' date='Jul 5 2006, 09:18 PM
NICE. nice trade up.
no tt? "just" the S? CS or a C4S?
no tt? "just" the S? CS or a C4S?
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Joined: Mar 2005
Posts: 277
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From: Hollywood, FL
My Ride: '06 550i 6 Speed MT, Navigation, PDC, Cold Weather Pkg, Logic7, Prem Pkg, Sport Pkg, Active Steering, Comfort Seats, Comfort Access, HUD, Alpine White on Black Dakota & a Big Grin ;-) <---- On the vessel from Germany...
********
'05 545i 6 Speed MT, Navigation, PDC, Cold Weather Pkg, Logic7, Prem Pkg, Sport Pkg, UUC EVOIII SSK, Silver Gray on Black Dakota..... (Buy back by BMW NA)
Originally Posted by Justgold18' post='307279' date='Jul 5 2006, 10:14 PM
Yes, I did trade the vehicle to a dealer down in Florida. Figured that they could find a fanatic like me that needs a Business Man's Special, White Sedan, 365HP 6speed.
LOL... that's exactly me
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Joined: Oct 2004
Posts: 14,776
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From: So Cal, USA
My Ride: 545iSMGSilver GrayAuburn Dakota LeatherLogic 7 Premium SoundSports Package
Originally Posted by Justgold18' post='307285' date='Jul 5 2006, 07:25 PM
997 Carrera S w/ Short Shift Kit and 19". I am excited. Turbo is beautiful, however, I am a fan of naturally aspirated engines, GT3 is more my style...
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Joined: Aug 2005
Posts: 1,016
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From: L.A., California
My Ride: 2013 535i (White with Oyster Interior. Premium Package, Navigation, Technology Pacakge, Park Distance Control, and Rear View Camera)
Well, it's about right. The biggest drop in value is when you drive a brand new car out of the dealer's parking lot.
Whoever purchase your 550 will not have such big depreciation as you did.
Whoever purchase your 550 will not have such big depreciation as you did.
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Joined: Aug 2004
Posts: 952
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From: San Diego
My Ride: 2015 535D M Sport
Originally Posted by Justgold18' post='307274' date='Jul 5 2006, 09:06 PM
My vehicle, 2006 White/Black 550I 6 speed with Sport, Nav, and all the goodies, with 5K miles has a value of $52K. The sticker was $64K so I find 12K of depreciation over 7 months as a little excessive. What happened to BMW's strong resale value. Guess its not true on our 5. :thumbsdown:
The first year is the worst, as with any a car. If you had kept it at least 4 years, you would have done much better. Plus, the trade in value is never as high as what you could get as a private seller. Compare the prices on www.kbb.com. The trade in value is about $5K lower than the private party value.
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