2011 E92 Jerez Black w/ Extended Fox Red Price Opinions

[southfla330]

I have been on the hunt for an M3 for a while and have found one that is local to me. Car has been quoted as being "full circle" and thus was purchased back at a set price. Was a lease return as of last week. Negotiations aren't going anywhere, however the asking is too high IMO. The following are the options and an asking price of $56,991. Trying to get an opinion of realistic market value. Have read through the used car pricing thread and may have become jaded to true value due to some of the incredible deals people are getting lately.

2011 Coupe
16K Miles
Jerez w/ extended fox red
Comp
Prem 2
DCT
Tech
Rear shade
ect...
*Does not have Cold Weather

Orig MSRP $76,625 (leased 6/2011)
Invoice $71,075
EU Invoice $66,775

[al3xander]

ive also been looking around a lot lately for a similarly speced car and thats the standard for dealer price with those options and miles, i would say 53 even would be a great price. even 54 id pay

[Hyperjack]

Originally Posted by southfla330

....however the asking is too high IMO. The following are the options and an asking price of $56,991......

"IMO"?

on what basis do you think that their asking price is too high?

all dealers will set their asking price high....yeah, i know this. but, i want to know why you think so. did you do any research? did you check KBB? did you check the market in your surrounding area?

when you start a thread like this asking for help, you have to fill the forum out with all this info. that's the only way you can get effective help in this situation.

[mdosu]

insane. I would say $50k but not a penny above $52k if you want it badly for a cash deal of course. If you're financing through dealer and or doing a trade, then try to knock more off...

have you read this thread?
http://www.m3post.com/forums/showthr...366319&page=60

[southfla330]

Originally Posted by Hyperjack

"IMO"?

on what basis do you think that their asking price is too high?

all dealers will set their asking price high....yeah, i know this. but, i want to know why you think so. did you do any research? did you check KBB? did you check the market in your surrounding area?

when you start a thread like this asking for help, you have to fill the forum out with all this info. that's the only way you can get effective help in this situation.

IMO - In my opinion

I've done my work and research on locating several clean no history cars. When an opportunity presents itself to begin the numbers dance with a dealer, I like to be informed on recent market transactions and get a level of comfort regarding the deal. I just sold a loaded 2012 535 for a hair over trade in value privately. Every offer presented was way off KBB and comparable used dealer inventory asking prices, but I was forced to make it move after several months. This forum has been invaluable in providing information on buying/selling in all aspects of the transaction.

I agree that the range for this specific car at this time is $50-54K, trending more towards the middle of the range.

[Hyperjack]

Originally Posted by southfla330

IMO - In my opinion....

lol!...i know what "IMO" means....my, fault for phrasing that poorly

i get that you've done your research, but what i was asking was why did you think that dealer price was too high?

you did your research, so tell us what you think it should be priced at. it helps in these kind of threads to say what you think the car should be priced at, and what the guide says it should be at....not just what the dealer asking price is. that way the forum doesn't have to price it at KBB ourselves.

give all the data, the more info the better, that way your situation can be discussed easier and you can get some effective advice....like wether you're being realistic or not.

[southfla330]

Any type of seller whether that be a dealer or private seller has the ability to ask what ever they would like for a particular vehicle. This car for example could have been priced at 59.9k. When negotiations begin to get the price to "fair market value" given the condition, miles, and options there comes a point where both parties stop. What I was inquiring from forum members and recent used car purchase prices, was a general idea of where this car will end up a "fair" deal for both sides. Buying new was a different story as I paid X $ over invoice and the deal was done in 5 minutes.

From what I have seen given nationwide searches and input from forum members in the used car thread, this particular car should have an actual selling price between $50-53,000. Anyone can walk into the dealer and pay asking or have $500 knocked off the price and leave happy. I along with many others will take the time to negotiate a price that is right for the car. Now I do not have access to recent Manheim data so I cannot accurately pinpoint a number. This is an off lease car of 2 years and there is no way of knowing the way the previous owner structured the deal at turn in.

Lastly, Hyperjack, I have seen that you are very active in this particular section of the forum with regards to pricing. Your contribution is great, and very much appreciated for new individuals in a position to purchase an M3.

[rpl77]

i was in your exact shoes two months ago..i bought a 2011 coupe with 18k miles, same specs but with cold weather, enhanced prem sound, but no sunshade or extended leather. i too wanted the best price..i paid $55k for mine ( located in north carolina with asking of $57k). could i have gotten a better deal? maybe, but i didn't want to lose this one either. a similar car was in houston, same exact specs, but cpo'd and priced at $54k. car sold in the three hours it took me to verify the maintenance records. if you can get the car for below $55k, i'd say you did better than me! good luck with your purchase

[rpl77]

btw, if you're willing to drive, there is a jb with red leather in raleigh, nc for $55k, 33k miles--they just reduced the price too from $59k. also, mine had been modded too--cf splitters, cf diffuser, painted reflectors and gintani exhaust

[southfla330]

Originally Posted by rpl77

btw, if you're willing to drive, there is a jb with red leather in raleigh, nc for $55k, 33k miles--they just reduced the price too from $59k. also, mine had been modded too--cf splitters, cf diffuser, painted reflectors and gintani exhaust

Sounds like you got a great deal either way, especially with a couple mods that are not cheap. It's worth it to pay a little extra for something that is exactly what you are looking for. Thank you also for the lead on the car in NC. I am going to look into it.

[Hyperjack]

Originally Posted by southfla330

....From what I have seen given nationwide searches and input from forum members in the used car thread, this particular car should have an actual selling price between $50-53,000. Anyone can walk into the dealer and pay asking or have $500 knocked off the price and leave happy.....

so, if i understand you correctly...you want to put the time and effort in to get the best deal possible and now you're asking the forum what would be a "fair" deal on both sides, right?

asking price is $56,991

you think that's too high. inquiring on the used car thread plus whatever other members have said here that what would be a good price would be between 50-53K. as of now, negotiations have not gone anywhere with this dealer.this is the jist of your situation?

ok, for now i'll assume you're going to be fine if you can get this car for 52K, given the feed back you've gotten from this forum. if i'm wrong, just say so....but for sake of discussion, i'm going to go with this number.

if the dealer won't budge at $56,991, you're going to need some leverage. to that i always say to acquire as many deals at other dealerships for similarly equipped cars. at the same time develop a relationship with the salesman.if you come off a reasonable consumer, their open to talking with you...hell, they want to sell you a car. but the longer you talk to them, not only are they more invested in selling to you ( their time is money) but you can get clues as to how much they are in to this car, meaning what their cost is here....also how long that car has been sitting on their lot. all this stuff can be important.

now, if you can say get 2 other deals at other lots for basically the same car ( they don't have to be exactly the same....just similar enough) for roughly 52K...you can then bring that up to the dealer in negotiation if you've spent enough time on this deal with them, they'll be open to hear what you have to say. ...and they can me motivated to drop the price because they know now that you can easily take your money elsewhere with out it being a baseless bluff. chances are they will drop their price. if they don't, you can easily take advantage of the other deals you've acquired.

right, now they don't have to do anything for you....so they won't. they probably know that this is the last year for the E92 and they figure they will just hold on to it until the right person comes along.

it's a waiting game and you have to give them some reason not to wait anymore.

now, you can also find out when you're out there making other deals....that you can't get 52.....or even 53K for this type of car. regardless of what other people say here on this forum....the actual market value for this car now is NOT under 54K. that's the reality, and not you have to ask yourself is that a "fair" price to you.

you are the only person who can answer that. it really depends how much you want this car to either bend on not to the new market realities of this car.

i hope that helps in any way. i may have just talked in circles here, but that's how i would handle this situation if i was in your spot.

[rpl77]

Did you ever end up buying a car yet?