I have a 2018 BMW 740i. Has a couple dings, so I went to an auto body shop and got an estimate and already filed claims under my insurance, minus $500 deductible. I think the total was $1800, so I expect to get checks for $1300. Scheduled in 2 weeks. A/C went out a couple weeks ago and I found out yesterday that it would be $4600 to repair. NFW. I have been getting estimates on trade value even before the A/C debacle, and they ranged from $19-25K. I am online looking for cars now but not sure how I should handle a trade on my current vehicle. Is it better just to keep the $1300 and let a dealership deal with the dings? Do I have to disclose the A/C issue or is it their job to figure it out. Also have an issue with the passenger SRS sensor, but that's another story. How do I handle this?
trading in a car. How much should I do?
- Thread starter l.todd
- Start date
I don’t know what the law says but if a potential buyer asks about any known issues, I think you should disclose what you are aware of. But most used vehicles are sold as is. Probably look at used vehicle listings and get an idea of how they word things around the issues you are talking about.
Maybe consider what you believe to be fair in this situation. Would you be cool after buying a car with undisclosed issues?
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Are these just random dings? That doesn't seem like something you would file with insurance to me. As far as costs, dealerships regularly have guys come around to fix dents and the value of your trade should be a impacted less than getting them fixed on your own. Also would insurance rates go up from this?
How big are the dings? Have you checked out paintless dent removal? Like Dent Eliminators? $1800 seems high unless there's actual body work.
Assuming the $1800 is the only option, I'd definitely let the dealership deal with the dings.
As for the other issues, I'd disclose those issues.
Assuming the $1800 is the only option, I'd definitely let the dealership deal with the dings.
As for the other issues, I'd disclose those issues.
This should be crossposted in the first world problems thread
Pocket the insurance money.
Go car shopping and find something you like. Go to a dealer hungry for used inventory. Tell them all of the issues up front with the current car. Say you are looking to do an as-is trade, but if you don't get the $$$ you want, you'll make the repairs yourself and drive the current car for another year. Usually the salesperson will do what they need to in order to close you on the new (replacement) purchase.
Go car shopping and find something you like. Go to a dealer hungry for used inventory. Tell them all of the issues up front with the current car. Say you are looking to do an as-is trade, but if you don't get the $$$ you want, you'll make the repairs yourself and drive the current car for another year. Usually the salesperson will do what they need to in order to close you on the new (replacement) purchase.
It's a BMW. Nothing is inexpensive to fix, and it being a newer 7 series makes anything a whole lot worse. My bet is you probably have to remove half the engine bay just to get at the items needing fixing. Call it a $1000 compressor part and the rest being labor.
I would sell it to a dealer and be up front about the issues... they may even have something where you have to disclose on paper what you know. Perhaps not... The dealer could have that a/c fixed for less than half of what you've been quoted.
Unrelated to the repair issue, but you're best to sell the car yourself. Trade value is the biggest piece of leverage the dealership uses. Take that off the table and you can comparison shop and try to have dealerships match\beat each other on your new vehicle on a level playing field. I tried selling cars at a Ford dealership when I was younger and the trade in deals were always the money makers.
Edit: I guess it should be noted that with issues they will subtlety devalue the shit out of your trade. More reason to sell it yourself. They'll game you on its issues, which they will fix cheap or just take it to the dealer auctions where they will still profit from someone else who specializes in those who will buy it at a decent price to fix cheap. Then they'll make you feel like they're bending over for you since they devalued your trade and show you a great deal on the new one but they're really coming out further ahead after profiting on the trade. It's all a balance between trade value and the value of the new vehicle. Always best to eliminate the trade in.
Edit: I guess it should be noted that with issues they will subtlety devalue the shit out of your trade. More reason to sell it yourself. They'll game you on its issues, which they will fix cheap or just take it to the dealer auctions where they will still profit from someone else who specializes in those who will buy it at a decent price to fix cheap. Then they'll make you feel like they're bending over for you since they devalued your trade and show you a great deal on the new one but they're really coming out further ahead after profiting on the trade. It's all a balance between trade value and the value of the new vehicle. Always best to eliminate the trade in.
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Reason #8603 I won't own a German car... LOVE their looks and how they drive but the reliability...
This....I would go back in time and never buy the Bimmer. Nothing worse than a German car out of warranty
It'll cost the dealer a LOT less than it costs you to fix these issues, so you might come out better selling/trading "as is" than putting money into it yourself before trying to unload it.
I am not sure. Both dings occurred in parking lots, while we were not in the car, so I wouldn't think so.
I took it to an auto body shop with a guy I trust. he said the problem is that the ding in the rear bumper makes it so the whole thing has to come off, and there are safety things, etc. in the bumper.
I can't remember the name of the part, but he said the part alone is something like $3400 and like the poster below said, they have to remove the dash, etc.
Stick a finger in the dealers ass. Both of you taste it. If you both agree the taste is good you can make a deal.
This is what I am thinking. I would not sell it to an individual or even a regular car sales place without fully disclosing. I think a dealership will be my best option.
I am going to list it on Revv.com. I had never heard of it before, but it sounds like you list the car and dealerships, etc., will bid on it. Are you familiar with it? I plan on disclosing everything and seeing what happens.
Yup. I got a really good deal on it. It was a 2018, 36K miles, bought it in fall of 2020. Sticker was north of $85K and I got it for $36K, more than half off the sticker. However, I will not buy used again without some sort of warranty. This thing got very expensive, very fast.
No idea. A lot has changed since I was briefly in the auto industry when i crashed and burned on a get rich quick idea I had in my early 20s. About enough experience just to maybe write a chapter in a book... Despite not being any good at selling the experience taught me everything I needed to know about how NOT to buy.
Are you expecting to get $1,300 and NOT fix it? The last time I went to a body shop the check was made payable to me and to the body shop.
I'm different from most people - I deal with one dealership. My father taught me this. It happens to be a Toyota dealership. Until a year or so ago I was friends with the owners, but they sold. But I'm still friends with my sales guy and the Service Dept manager.
Has this cost me money over the years? Maybe, but I have lost track of the number of times the dealership has bailed me out of car issues because I've been suck a long time loyal customer.
So, when I'm in a situation like OP's, I sit down with the sales guy and the used car guy valuing the car and they help me figure out the best approach.
Same, I am loyal to one person for buying new vehicles. He does a good amount of business with me in turn.
For just about any of my consumer needs, I always go through people that also do business with me. I have found loyalty goes both ways in these scenarios .
Yes. I put the claims through on Friday. The company asked if I wanted to use one of their sites or find may own. My friend's was not listed, so I said find my own. They did the estimate, subtracted the $250 deductible and said they would send the check to me. I scheduled at my friend's for the week of 10/16. They have no idea where I am going to get the work done. So then yesterday am I get the news about the A/C and it changed my plan.
TBH, I was looking at getting rid of it anyway. I did some pretty major renovations in my house over the last year and one of them was to the HVAC system. He removed a handler that was fairly close to my parking spot in the garage, so I was happy. Then when he put the new venting in, it was actually worse for my parking. The house was built in 1952, and the 740 is a BIG car. Too big for that garage.
I don't really have one dealership I deal with. I like to try different makes just to get something different, depending on which maker has a car I'm interested in.
Interesting about the insurance check. Is that a state thing or an insurance company thing, I wonder?
I use West Bend and live in Iowa.
