I've been eyeing a 2011 BMW 335i xDrive Coupe for over a month now.
It's a fully loaded AW/Coral Red with M sport package.
56,100 KMs on it,
Located in Vancouver, BC.
Current asking price is $41,900.
I say current because the asking price when the car first arrived was $40,900. They raised it to $41,900 a week later.
As of today, the car has been on the lot for 40 days, but the price has not dropped.
How likely am I to get the car for $36,900?
This is the highest price I can pay because of my financing budget. After fees, taxes, and a $9000 down payment, I will be paying $600 a month, which is my maximum budget.
I have already worked out a few arguments below that I can use to try and negotiate with the dealer, but I don't know how effective it will be. Looking for some opinions or tips on what I should do.
1. There was another 2011 BMW 335i xDrive Coupe, AW with M Sport Package, Fully loaded, Only 34,000 KMs on it, back in November 2013 with an asking price of $42,895 (From a different dealership in the area). A month later, in December, the asking price was lowered to $38,895, and it sold within 2 weeks. Let's assume that the buyer went in and bargained a little bit more and got it for $38,000, which is fairly reasonable. From an original asking price of $42,895, the buyer got a discount of 11.4%
Now in March, 3 months later, the value of the car should have dropped by approx $1000~$2000, not factoring in the 22,000 difference in KMs.
My offer of $36,900 is within that range, and is a 11.9% discount off the current asking price of $41,900, which is fairly close to the other car that was sold. HOWEVER, the original asking price of this car was $40,900 when it first arrived. If we use that value, then I am only getting a 9.78% discount.
2. Most dealers on average give a maximum discount of 10% off used cars. Using the original asking price, my offer is less than 10% off.
Also, dont know if it makes a difference, but this dealership is only 3 years old, and they have been known to give crazy deals in the past.
It's a fully loaded AW/Coral Red with M sport package.
56,100 KMs on it,
Located in Vancouver, BC.
Current asking price is $41,900.
I say current because the asking price when the car first arrived was $40,900. They raised it to $41,900 a week later.
As of today, the car has been on the lot for 40 days, but the price has not dropped.
How likely am I to get the car for $36,900?
This is the highest price I can pay because of my financing budget. After fees, taxes, and a $9000 down payment, I will be paying $600 a month, which is my maximum budget.
I have already worked out a few arguments below that I can use to try and negotiate with the dealer, but I don't know how effective it will be. Looking for some opinions or tips on what I should do.
1. There was another 2011 BMW 335i xDrive Coupe, AW with M Sport Package, Fully loaded, Only 34,000 KMs on it, back in November 2013 with an asking price of $42,895 (From a different dealership in the area). A month later, in December, the asking price was lowered to $38,895, and it sold within 2 weeks. Let's assume that the buyer went in and bargained a little bit more and got it for $38,000, which is fairly reasonable. From an original asking price of $42,895, the buyer got a discount of 11.4%
Now in March, 3 months later, the value of the car should have dropped by approx $1000~$2000, not factoring in the 22,000 difference in KMs.
My offer of $36,900 is within that range, and is a 11.9% discount off the current asking price of $41,900, which is fairly close to the other car that was sold. HOWEVER, the original asking price of this car was $40,900 when it first arrived. If we use that value, then I am only getting a 9.78% discount.
2. Most dealers on average give a maximum discount of 10% off used cars. Using the original asking price, my offer is less than 10% off.
Also, dont know if it makes a difference, but this dealership is only 3 years old, and they have been known to give crazy deals in the past.
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