Help needed: Selling my 530i :[
10-22-2012, 01:41 PM
#11
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In the past the payment structure might have been based on the old Rule of 78's which says that if you pay off early there will be an interest penalty. The practice usually applied to real estate loans.
Last edited by Cricketts; 10-22-2012 at 01:46 PM.
10-22-2012, 02:16 PM
#12
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Very interesting. I will have to check with the BMW bank because when I checked my online BMW account, the price to pay it off at once was INCLUDING the interest.
I thought this has to be absurd! I hope you're right as it would considerably lower the amount owed.
Thanks Crickett
I thought this has to be absurd! I hope you're right as it would considerably lower the amount owed.
Thanks Crickett
10-22-2012, 02:37 PM
#13
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I bought my 2007 525i excatly like this, about 2 months ago. Here's what happened.
I gave the seller a check for the amount we agreed, he gave me a bill of sale first.
He paid the money he owed on his car, and I drove with his tag and registration untill he recieved the title of the car.
Once he had the title, he just signed it for me, I went to the tag agency with my insurance, and paid the taxes and my own registration.
That was it, it really is a simple process..
I gave the seller a check for the amount we agreed, he gave me a bill of sale first.
He paid the money he owed on his car, and I drove with his tag and registration untill he recieved the title of the car.
Once he had the title, he just signed it for me, I went to the tag agency with my insurance, and paid the taxes and my own registration.
That was it, it really is a simple process..
10-22-2012, 05:29 PM
#14
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Thanks a lot Rob, that makes me feel a bit better about it seeing that it was an easy process for you. If you don't mind how much did you guys agree on $ wise. How many miles did it have?
Thanks
Thanks
10-22-2012, 08:21 PM
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@phfly
Interesting you suggest Carmax, do you have any experience dealing with those guys? If so, please share. I submitted a quote inquiry to Autotrader.com and some clown from a dealership called me yesterday and offered me $10,500. I told him to screw off
Here's my current specs on the car:
2007 530i
98xxx
Sports Package
Premium Package
Non Nav
Xenon Headlights
Black on Black
Grey Anthracite trim on the inside which is beautiful and in my opinion the best for the black on black color combo.
Other than that it's pretty much stock, from KBB I saw $17,700 for Pristine condition and as low as $16,000 for fair condition. I'm planning to clay bar it and get it detailed inside and out and ready to sell as I assume I can get more value if it looks very nice and clean.
Back to the original question Phfly, any experience dealing with Carmax? What attracts me there is the ease of using them because I've heard it's no BS there
Interesting you suggest Carmax, do you have any experience dealing with those guys? If so, please share. I submitted a quote inquiry to Autotrader.com and some clown from a dealership called me yesterday and offered me $10,500. I told him to screw off
Here's my current specs on the car:
2007 530i
98xxx
Sports Package
Premium Package
Non Nav
Xenon Headlights
Black on Black
Grey Anthracite trim on the inside which is beautiful and in my opinion the best for the black on black color combo.
Other than that it's pretty much stock, from KBB I saw $17,700 for Pristine condition and as low as $16,000 for fair condition. I'm planning to clay bar it and get it detailed inside and out and ready to sell as I assume I can get more value if it looks very nice and clean.
Back to the original question Phfly, any experience dealing with Carmax? What attracts me there is the ease of using them because I've heard it's no BS there
10-23-2012, 11:26 AM
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Thanks MP1472, detailing is definitely a must. Was just looking for some input on that to how important it is in the dealer's eyes. I am thinking about taking it down to Carmax just to see what they'd offer. Auto trader offered me 10k which I thought was absolutely ridiculous. Every dealer within 500 miles has called me. So many that i had to stop answering the phone. Every single one is trying to 'take me' for a ride. Bastages
10-23-2012, 08:47 PM
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Thanks MP1472, detailing is definitely a must. Was just looking for some input on that to how important it is in the dealer's eyes. I am thinking about taking it down to Carmax just to see what they'd offer. Auto trader offered me 10k which I thought was absolutely ridiculous. Every dealer within 500 miles has called me. So many that i had to stop answering the phone. Every single one is trying to 'take me' for a ride. Bastages
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