S2k03

The other day I went to the BMW dealership here in Austin and had my car appraised for trade-in. The told me they typically use Kelly as their source for appraisels. They quoted on my 2003 S2000 with 14100 miles $19,500.

I could not believe it. I told them that I knew they were not taking mileage into consideration and I could see them putting $27,000 and probably taking $26,500 on the deal. S2000's are somewhat hard to come by here in Austin, TX. Their are 3 used ones in the city and most are older with more miles. Carmax has an 00 with 44k miles on it asking $20,185 for the car. I also noticed something with kelly, if you put your mileage in as 1 mile the price is within $500 of putting in 30k miles. Mind you this is dealer trade-in not retail or selling the car myself. I knew I was going to get low-balled but damn. NADA prices the car with the mileage at just over $23,000, which is where I thought I was going to be. Sorry for the rant but I am still trying to find my jar of vasoline. Any similar experiances or advice will be appreciated.

Thanks!

asrautox

It's a buyers market... Not much you can do but sell it yourself or try a different dealership..

rai

That's not too bad IMO. I have the same year as you but with 19K miles + hardtop. My friend sold his 02 (private party sale) with 22k miles for $21K.

You're nuts if you think dealership can sell that car for $26,500K heck aren't brand new ones going for $30K? Who wouldn't pay the difference ($4K) to get a brand new car?

Bottom line a trade-in is a convenience to you. The dealer is taking the risk and trouble of selling it, and must get a reward for it other wise why bother.

I think you should go to carmax and see what they will give you. Also (don't know with your state) some states allow you to deduct your trade-in against the new purchace for sales tax.

JonBoy

I'll give you $20K for the car.

03_AP1

same here - went to infinti to look at a G35C.

They offered 26,000 CAD for my 03 with 42000 kms (msrp in Canada is 48,600)

AustinS2k2003

The used car market is a drag now because of all the trade ins companies like GM had. More supply; If you aren't happy with what BMW of Austin quoted you get a second opinion and bring it back to them. They struck me as a little snooty when I went in there so they may be low balling you. In any case I'd get a second opinion from like Maxwell or Covert before trading in at that price. I can tell you I'd never accept that price on my 03 with 28,000 miles on it...

Austin's also weird because there are more high-income people here

If you couldn't figure it out I'm in Austin too so PM me if you need further local help...

PilotKD

They typically use Kelly Blue Book prices? No, they typically rip people off on trade-ins is what they "typically" do because that's how they make money. Kelly Blue Book says trade in for a 2003 with standard equipment, 14,100 miles in excellent condition is $20,650, not $19,500. The S2000 is probably not a very easy car to sell. There's a small market it for it, as much you'd like to think it is a rare car (which it is). I would say you could get $23,500-24,000 for it privately. With brand new '05's going for $30k, who the heck would pay $26,500-27,000 for an '03?

I would try Carmax also. They tend to give $1,000+ over trade-in and I've heard of people getting $3,000 over trade-in value. I tried to sell my Miata to them a few years ago, but I had suspension mods done to it and they wouldn't take it. Make sure you don't have any mods before you bring it there.

David1

I just got my auction report. 03's are averaging $20,200 at the block. There is hardly an add for low miles so you might as well drive it.

ElTianti

If you want an investment, buy stocks.

aklucsarits

The truth hurts.

Andrew