Re: Thinking of trading 2008 BMW 328i for 2009 Lexus IS350
12-09-2008 09:45 AM
I guess I would have to agree with other posters on this topic ...the decision sounds like more of an emotional decision rather than a financial one .. if thats the case and you can afford it ...do it and dont look back ....peace of mind is a hard thing to put a price on.
However, I do not know where anyone is getting a 4k negative value on this car ..I am a manager at a major dealership and I can tell you an 08 model vehicle bought new ....well lets just say you can probably figure that value to be somewhere between 25-30% less than what the invoice was on that vehicle new! No one in their right mind Lexus included would give you almost invoice less 4k for a BMW 328i not even with 100 miles on it lol .....just wouldnt make sense.
People are correct in stating if you had another dealership to go to I would go there but if that is the only dealer in your area then I guess your options are limited.
I do not know your situation with the service of your dealership but have you talked to the Owner yet? I know our Owner is on site 5 days a week and is very hands on and is involved in every aspect of our dealership and has an open door policy with customers unlike most dealerships.
A visit with the Owner may prove to be a simple and easy fix and at the same time might save you a ton of cash to boot If you have already done this I would say do what makes you happy.
Oh and by the way ... 6 year loans are not bad things but more like the norm because of the amount of money it takes to purchase a car these days although I would say my personal choice on "highline-type" vehicles ie BMW, Mercedes, Lexus etc ... would be to lease it unless you put a ton of miles on it or intend to keep it forever.... payment is low ...you can buy it out after the lease term and you have a guaranteed future value that you can turn the vehicle in after the term or just purchase it if you feel you like owning it.
With the lease at least you can turn in the car after 2-3 years and not have to worry about the trade in value just vehicle condition and excess miles .... thats why you see so many people in highline leases ... beleive it or not trade in values are most of the time worse than you think on high line vehicles ...but to each his own ...
Like I said it all depends on your financial position .. if you do not really care about the negative equity and this is all about making a statement then just do it ...if it is going to kill you to lose 10-15k on a new BMW then I would be trying to stay in some sort of good grace with the only dealership in town ....
Just curious ..how far is the next closest dealership?
Anyways ..good luck sorry for the rant....