"WhiskeyGolf" (whiskeygolf)
07/30/2016 at 13:48 • Filed to: pricing, bmw, used
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"WhiskeyGolf" (whiskeygolf)
07/30/2016 at 13:48 • Filed to: pricing, bmw, used | 1
| 15 |
My dad is getting ready to sell his 2009 BMW 328i (not the one above, but just like it). I want to buy it. The challenge is that it has 350,000 km (217,000 miles) and as far as I can find, it’s likely the highest mileage e90 for sale in the province of Ontario. I’ve tried to use math to estimate the value based on current AutoTrader listings, but since most of those are lower mileage, auto and Xdrive, it’s all over. The range I’ve found is between $2900-7500 using different Excel patterns.
How do you find its value?
Things are further complicated by the fact that it needs 1 new ignition coil, rear brakes and 4 new tires.
TheTurbochargedSquirrel
> WhiskeyGolf
07/30/2016 at 14:04 |
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Ask your dad what he feels it is worth and what he wants for it and then negotiate from there?
My speed3 is happy
> WhiskeyGolf
07/30/2016 at 14:05 |
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If your dad is selling it to you, its value is $2900 minus 20% (“because you love me dad”). If he thinks he’s getting a bad deal, tell him you will one day offer a similar deal to his grandson.
This is the strategy my fiancee used to get a house seriously under market value.
E90M3
> WhiskeyGolf
07/30/2016 at 14:09 |
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Like others have said, see what your dad wants for it and then go from there.
notsomethingstructural
> WhiskeyGolf
07/30/2016 at 14:16 |
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Once you get over about 120k miles the number doesn’t mean anything. Was it well maintained? Are there records? How is the paint and interior? If you’re really worried about the health of the motor, what’s the compression?
Mileage matters at lower numbers because if you’re on original struts with 55k miles you should take notice. At 100k you’re wondering about axles and stuff. Especially at 200k every consumable part has been replaced at one point or another aside from the motor and transmission and the assumption is you fix shit as it breaks. So you’re best off trying to figure out exactly what’s broken or if it’s immaculately maintained. An immaculately maintained and clean car with records at 200k is worth more to me than one with a spotty history and scratched to hell at 140k.
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WhiskeyGolf
> TheTurbochargedSquirrel
07/30/2016 at 14:33 |
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He seems to have an idea of $6k or up but I don't think that's really possible.
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WhiskeyGolf
> notsomethingstructural
07/30/2016 at 14:35 |
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My dad is of the “if it ain’t broke” mindset, especially about technical things, so as far as I’m aware it’s only had tires, brakes and oil changes so far because those were needed. The other wear items aren't such a big issue because I as planning on fixing/improving them over time anyways.
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TheTurbochargedSquirrel
> WhiskeyGolf
07/30/2016 at 14:46 |
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Make him a counter offer of something which seems more reasonable to you.
tokyosexwheelie
> WhiskeyGolf
07/30/2016 at 14:51 |
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Why are you only looking in Ontario? If you worked on finding a similar car in another area then matched up the lower mileage (kilometerage?!) examples from there with your local ones and assumed price scaling to be equal that might work? Also suggest he advertises it locally to gauge a fair price? With his attitude to maintenance and the work that needs doing it doesn’t sound like that great a buy unless it’s bargain bin.
duurtlang
> WhiskeyGolf
07/30/2016 at 15:29 |
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Get a quote from a BMW dealer for the “new ignition coil, rear brakes and 4 new tires”, and deduct that from the $6k. Then do the work yourself.
LOREM IPSUM
> WhiskeyGolf
07/30/2016 at 15:34 |
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If in the usa I’d say $1500-2 grand tops.
In Canada $3000-5. Definitely on the lower end because the car has had no preventative maintenance and more importantly because it’s an Ontario car. If it isn’t rusting out already, it will be at some point.
Since it’s your Dad I’d see if he would entertain an offer of $1500. He’ll probably balk and either counter or flat out say no. If he counters at a significantly higher price, consider agreeing but only if he’ll agree to pay for any necessary repairs during your first year of ownership.
If he balks at that, maybe let it become someone elses problem... especially if you’re paying someone else to do the labor when it does break.
Monkey B
> WhiskeyGolf
07/30/2016 at 15:40 |
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take it to a dealer and get a number on it. Work off of that. In U.S. dollars I see this car in the $3200-4500 range. Dad should give it to you for $3k
Jay Lauer
> WhiskeyGolf
07/30/2016 at 15:52 |
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Just know a 200k miles plus car bears a Scarlet Letter of high miles forever. It’s like selling a salvage title car basically.
Trunk Impaired 318
> WhiskeyGolf
07/30/2016 at 16:14 |
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Comparable US cars seem to be listed for $4500-$6500, or $5800-$8500 canuck bucks, meaning that $4500 to $7500 Canadian should be reasonable.
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notsomethingstructural
> WhiskeyGolf
07/30/2016 at 16:24 |
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I don’t agree with the people who act like $6k is ridiculous, there is a one-owner ‘08 in Michigan with similar mileage FSBO on cars.com. Cleaner than his sounds, but also sounds like it needs coils (not tires though). $6400 ask.
There are zero FSBO 328i’s from ‘08 to ‘10 on cars.com anywhere in the US for under $6k. The two craigslists I searched had one ‘07 FSBO with 210k for $5500. I think if you’re not ready to drop at minimum $5k I wouldn’t even negotiate just wish him luck or tell him you’ll match any dealer trade-in offer.
Twinpowermeansoneturbo
> WhiskeyGolf
07/30/2016 at 19:00 |
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He is smoking crack if he thinks it is worth that much.