Automotive

prices higher than trade value?

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  • Jan 1st, 2017 7:31 am
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[OP]
Sr. Member
Oct 18, 2013
594 posts
184 upvotes
Brampton

prices higher than trade value?

Hey guys, so i have decided to buy a BMW 328i coupe from the year 2007 or 08. The trade value seems to be around 6-7k but people are pricing the cars at 12-15k .i will be buying the car in feburary(in cash) so my question is what are these actually worth? if i buy one for lets say 12k and then i decide to trade it i will take a huge loss. Are people just overpricing them?
8 replies
Deal Addict
User avatar
Nov 28, 2007
3074 posts
999 upvotes
Whitehorse, YT
Bluemist1967 wrote: Hey guys, so i have decided to buy a BMW 328i coupe from the year 2007 or 08. The trade value seems to be around 6-7k but people are pricing the cars at 12-15k .i will be buying the car in feburary(in cash) so my question is what are these actually worth? if i buy one for lets say 12k and then i decide to trade it i will take a huge loss. Are people just overpricing them?
Trade-in values are what dealers say they will give you i.e. low prices.
Asking prices are what sellers would like to get i.e. high prices knowing there is room to come down to make the buy thing he is getting a deal.

What's it worth? Whatever buyer and seller agree to. Trading car is not like buying a litre of milk ... take it or leave it. You make an offer to buy and see if it leads to a transaction.
Sr. Member
Dec 24, 2009
728 posts
380 upvotes
Well then buy the car from a dealer if you think they'll sell it to you for the trade value lol
Deal Expert
User avatar
Oct 13, 2009
21168 posts
10608 upvotes
Iqaluit, NU
U getting rid of the s class?
Re: Procurement, Life & RFD
nasa25: say you won it in a raffle. That's what I do with like 86% of my purchases
infinityloop: Lying to your SO seems like an unhealthy long term strategy
nasa25: lmao
Deal Expert
User avatar
Jul 30, 2007
26043 posts
11122 upvotes
Toronto
One will become the backup car
Deal Expert
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May 14, 2007
15075 posts
2193 upvotes
Scarborough / Markha…
Becuz they need to make money lol... So they can mark up the trade-in to market value to earn a profit.
Sr. Member
Nov 6, 2013
614 posts
369 upvotes
You trade in a vehicle for an agreed upon price.

Dealer cleans it up, makes needed repairs, gets it past a safety. Costs could be anywhere from $200 to thousands depending on age and needed repairs.

Then they resell it for a profit.

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