Trading in 06 530i for an 07 550i, Am I Crazy?
07-23-2009, 08:22 AM
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My Ride: 2010 535i, Sports Package, Nav, Prem Sound
I bought a CPO 06 530i, sport package and navi 4 months ago, and it now has 43k miles with another year of factory warranty left (plus the CPO warranty).
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
07-23-2009, 08:27 AM
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My Ride: 2008 550I LOADED, all options except HUD and NV
Originally Posted by amit1947' post='951616' date='Jul 23 2009, 09:22 AM
I bought a CPO 06 530i, sport package and navi 4 months ago, and it now has 43k miles with another year of factory warranty left (plus the CPO warranty).
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
Depends, if you are upside down on your car the - yes, it's a bad move you'll just add more $$$ to the loan to get the new one, meaning higher payment and requiring GAP insurance (to cover the loan if the car s totaled).
If they are including the maint in the CPO it's a good deal. 6 yr 100K warranty + 6 yr 100K maint = great deal, I got it and am very pleased.
07-23-2009, 08:33 AM
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My Ride: 2010 535i, Sports Package, Nav, Prem Sound
Originally Posted by pjinca' post='951623' date='Jul 23 2009, 12:27 PM
Depends, if you are upside down on your car the - yes, it's a bad move you'll just add more $$$ to the loan to get the new one, meaning higher payment and requiring GAP insurance (to cover the loan if the car s totaled).
If they are including the maint in the CPO it's a good deal. 6 yr 100K warranty + 6 yr 100K maint = great deal, I got it and am very pleased.
If they are including the maint in the CPO it's a good deal. 6 yr 100K warranty + 6 yr 100K maint = great deal, I got it and am very pleased.
07-23-2009, 08:35 AM
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My Ride: 2010 535i, Sports Package, Nav, Prem Sound
Originally Posted by amit1947' post='951627' date='Jul 23 2009, 12:33 PM
I owe about $20k on the car...so I'm assuming I'll get more than that on trade in, I'm hoping for $26k, I hope I'm not dreaming when it comes to that number
07-23-2009, 08:38 AM
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My Ride: 2007 530i. Purchased 6/28/07. Titanium Silver Metallic, Black Dakota Leather, Dark Poplar Trim, Steptronic, Premium Package, Cold Weather Package, Bluetooth, Adaptive Control Xenons. 10/30/07 Added OEM 124s with 245/40/18 & 275/35/18 Michelin Pilot Sport A/S tires. Installed red Cal Covers� from BavAuto. 11/21/07 Added OEM all-weather floor mats (for winter, carpet in summer) and coat rack. 6/26/08 installed M5-style rear spoiler. 6/30/08 put on red reflectors. 8/22/08 Euro turn signal stickers applied. 3/20/09 Installed Shadowline Trim. 3/27/09 Added Matte Black Kidney Grilles from Trinity. 4/03/09 Installed Bimmian Shadow Matte Black 530i Badges. 4/04/09 Installed LED license plate lights from Trinity. 5/01/09 Installed Brabus Interior LED Kit and White Angel Eyes. 5/02/09 Put in Brabus 6K Fogs. 5/14/09 Removed charcoal filter. 5/15/09 Installed light smoke LED side marker lamps from Trinity. 5/21/09 Sprint Booster. 6/12/09 Painted exhaust tips flat black. 6/13/09 Pulled red Cal Covers and painted calipers low gloss black. 6/27/09 RPI Ram Air Scoop from Trinity. 8/15/09 Installed Brabus's silver invisibulbs front and rear. 9/24/09 Installed R-Dash license plate LEDs from Brabaus (John).
Good luck. I honestly don't see you trading up like that for $3K. They'd have to be able to make money on your trade, which is the majority of their profit. I don't think they can flip it for that. But hey, worth a shot.
07-23-2009, 08:38 AM
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My Ride: 2008 550I LOADED, all options except HUD and NV
Originally Posted by amit1947' post='951627' date='Jul 23 2009, 09:33 AM
I owe about $20k on the car...so I'm assuming I'll get more than that on trade in, I'm hoping for $26k, I hope I'm not dreaming when it comes to that number
Depending on mileage, condition, and options trade-in value is significantly less than retail (usually about a quarter of the retail price less). So you may break even but $26K, I doubt you'll get that for the trade. If you really want to do it (and it's not a bad idea) sell it privately THEN go get your 550i - they are great cars and most were pretty loaded since they are almost top of the line. So even if you miss out on the one you're looking at you can find a comparably equipped car after you sell yours.
07-23-2009, 08:38 AM
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My Ride: 2004 530i
Model Year: 2004
Financially, yes. Because they won't give you much for the trade-in, plus the mark-up on the 550. Unless you sell 530 privately and neg a deal for the 550 to minimize the price difference.
07-23-2009, 08:46 AM
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My Ride: Titanium Gray 550i, Cold Weather Package, Premium Sound Package, Sport Package, Shadowline trim, Parking Distance Conrol, Xenon, Adaptive Headlight Control, Navigation System, Satellite
Originally Posted by amit1947' post='951616' date='Jul 23 2009, 11:22 AM
I bought a CPO 06 530i, sport package and navi 4 months ago, and it now has 43k miles with another year of factory warranty left (plus the CPO warranty).
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
I found an CPO 07 550i, loaded, at the dealership with 54k miles.....they want $29k
Do you think I could do a trade in and not get ripped off? Do you think 54k miles is too much (even though its CPO) ?
Am I Crazy?
CPO 07 550i for $29K is a no-brainer, IMO.
