[markymarc1979]

Lets see what they are willing to offer on my car. I can always sell it private. I already have an interested buyer.

[markymarc1979]

Originally Posted by MAZINGER

Is your car finance or lease? I tried asking for the dealership for the trade of my 08 335i, its value is only worth $42k consider it is only a 10 months old car. If I I am trading my car, I have to pay ~1641.25 taxes included for 60 months. So, do your calculations, $1641.25 x 60 months= $103,xxx. for a 2008 M3.

If your car is not finance / leased, it is worth getting a new M3 coupe. However, consider it is a V8 engine car and it takes more gas than your E92.

My car is paid for in full. I finished my finance back in March.

[picus]

Originally Posted by markymarc1979

32k??? what an insult. They are selling a more basic 335 with more km then mine for $44 800

http://www.trader.ca/powerpage/detai...6&adid=7069524

Originally Posted by chango335

BMW offered me $36K on my 2007 335 with 50,000km and I turned them down cuz I thought that was way too low....so you may get more since you have less km on your ride.

Originally Posted by slapmyfro

my CA caled me to see if i was intrested in getting a m3

at the time he had 1 left in stock.

i have a 2007 e90 with 14'000 km

the most they would give me was 36,500

im still driving my car .................

the problem isnt getting a great deal on the 2008's, its getting bent over on the bmw you have now

its going to be a long time before you guys see deals like this on the m3, as for 2009 there just not going to be making as many. there allocation i was told is way less for the m3 for 09 and beyond, because there not enough demand

^^^

Another friend of mine just did what you're talking about, but on a sedan but his car was leased, so it was an easy negotiation. Basically he swapped his 335i lease for a finance on an M3.

The issue you have is you own your car, so you have two options both of which kind of suck.

1) Trade to the dealer, take a low value, but guarantee your 0.9% financing and likely a better reduction off msrp on the m3. More importantly, you save the tax on the trade, so on a 35k trade you really get another 5k savings in tax.

2) Sell privately, but know you need to get more than the value of the trade+tax savings on the sale. No guarantee you'll get 0.9% and the discount on the m3 might not be as good.

The other issue others mentioned is there are a dwindling number of '08 M3's in stock, so the deals are going away. Luckily for you BMW just posted a 68% profit loss this year, so odds are in ~Sept/Oct/Nov of next year some of the hugely overproduced 41,000 M3's they are bringing in will be on a firesale.

Unfortunately for guys like us that bought our cars the U.S market/Canadian dollar has devalued our cars in a big way, and there really isn't any way around it aside from keeping it and letting its value catch back up with its depreciation.

[Slke46]

Go for the M, its a whole different beast! But the 335 is also one quick and respectable car... Up here there aren't to many places you would be able to open her up...

[markymarc1979]

Originally Posted by picus

^^^

Another friend of mine just did what you're talking about, but on a sedan but his car was leased, so it was an easy negotiation. Basically he swapped his 335i lease for a finance on an M3.

The issue you have is you own your car, so you have two options both of which kind of suck.

1) Trade to the dealer, take a low value, but guarantee your 0.9% financing and likely a better reduction off msrp on the m3. More importantly, you save the tax on the trade, so on a 35k trade you really get another 5k savings in tax.

2) Sell privately, but know you need to get more than the value of the trade+tax savings on the sale. No guarantee you'll get 0.9% and the discount on the m3 might not be as good.

The other issue others mentioned is there are a dwindling number of '08 M3's in stock, so the deals are going away. Luckily for you BMW just posted a 68% profit loss this year, so odds are in ~Sept/Oct/Nov of next year some of the hugely overproduced 41,000 M3's they are bringing in will be on a firesale.

Unfortunately for guys like us that bought our cars the U.S market/Canadian dollar has devalued our cars in a big way, and there really isn't any way around it aside from keeping it and letting its value catch back up with its depreciation.

Kev:

Thanks for the great insight. I'm waiting to hear back from Chris over BMW Mississauga. I was thinking of calling BMW Canada to discuss the current finance rates. Or am I better off disucssing this with Chris?

[MAZINGER]

Originally Posted by markymarc1979

My car is paid for in full. I finished my finance back in March.

So, you are lucky! Go for the M!

[DinoMite]

Originally Posted by markymarc1979

OK so it is my understanding that now may be the best possible time to purchase an M3. From what I've been reading, BMW is giving killer discounts right now. So here is my dilema.

I've got a 2007 E92 Black with black leather, sport package and 230's with 7500km.

I've also got a ton of mods.

Should I: a) part out the mods and trade in my 335 or an M3?

or

b) Keep the 335 and be happy with what I have?

hmmm why not just drive the 335 more, and save up for a nice Porsche instead?

[f30Seth]

Losing money on your fully paid 335i is inevitable I should say, but if you can manage to find a kick ass deal like 11~13k discount on a new M3. I think it will make up for the lost money on your 335i, shouldn't it?

P.S - If you crave for a coupe then get a coupe, don't compensate with a sedan

[SPACEMANRICK]

In BC when you trade in your car you pay the PST and GST on the net cash value paid to the dealer so if your trade in is $32,000 and the new car is $60,000 you pay tax only on the $28,000 difference. I am not sure how it works in Ontario but at least here in BC that is an added incentive to trade the car in to the dealer.

I am surprised how much the trade in values have decreased in a few months, when I traded in my 36 month old 2006 330i (completely bone stock with no options) with 44,000km in July I got $29,500 from the dealer and that is after getting $4,000 off from BMW Canada and 5% off MSRP on my new 2008 335xi.

[fizzerd]

Originally Posted by picus

^^^

Another friend of mine just did what you're talking about, but on a sedan but his car was leased, so it was an easy negotiation. Basically he swapped his 335i lease for a finance on an M3.

I thought there were penalties on returning the lease early?

[Rewted]

Originally Posted by SPACEMANRICK

In BC when you trade in your car you pay the PST and GST on the net cash value paid to the dealer so if your trade in is $32,000 and the new car is $60,000 you pay tax only on the $28,000 difference. I am not sure how it works in Ontario but at least here in BC that is an added incentive to trade the car in to the dealer.

I am surprised how much the trade in values have decreased in a few months, when I traded in my 36 month old 2006 330i (completely bone stock with no options) with 44,000km in July I got $29,500 from the dealer and that is after getting $4,000 off from BMW Canada and 5% off MSRP on my new 2008 335xi.

Same is true for here in Ontario. Take the trade in value, subtract from your new car total and you only pay taxes on the remainder. Incentive to skip the hassle of private sale with nickel and dimers.

I too would get the M3, but driving in Ontario winter? yikes!

[markymarc1979]

Originally Posted by tyrewt

Same is true for here in Ontario. Take the trade in value, subtract from your new car total and you only pay taxes on the remainder. Incentive to skip the hassle of private sale with nickel and dimers.

I too would get the M3, but driving in Ontario winter? yikes!

I have a 2008 Nissan sentra with winter tires. I'm not worried about Winter.
I've got a dealer searching his inventory for a car. Awaiting the outcome.

[markymarc1979]

Just received an e-mail from the sales rep over at BMW Mississauga. Black book value on my car is 37K.

That means I lost over 21K over 1.5 years time. I looked up my original purchase agreement last night. Before taxes, the car was 58K.

Something is wrong here.

[DinoMite]

Originally Posted by markymarc1979

Just received an e-mail from the sales rep over at BMW Mississauga. Black book value on my car is 37K.

That means I lost over 21K over 1.5 years time. I looked up my original purchase agreement last night. Before taxes, the car was 58K.

Something is wrong here.

Holy crap, i thought one can expect to lose that much over 3 years or more.

[markymarc1979]

These people think I'm stupid. I would never in a million years take a loss like that.

[bulldog_yyc]

ouch - don't trade it in for that

[NoKids]

Originally Posted by markymarc1979

Just received an e-mail from the sales rep over at BMW Mississauga. Black book value on my car is 37K.

That means I lost over 21K over 1.5 years time. I looked up my original purchase agreement last night. Before taxes, the car was 58K.

Something is wrong here.

lol. that must have felt like a kick in the nuts.

so i guess my 328i, 1 year old, 20Km, original price $56K (with taxes included) is probably worth $30 to $32K to the dealer. but they can turn around and sell it for $45K. hmmm.

[markymarc1979]

Just got back from the dealer. I counted about 8 or 9 M3 coupes sitting on the lot. In fact, the one I test drove, hardly started because it was sitting for so long. There is no shortage of M3's out there, trust me. The Sales rep also said they won't ordering any 09's until all the 08's are gone.

I think the longer I wait, the cheaper they will go. I wonder what dealer cost is on one?

[picus]

Originally Posted by SPACEMANRICK

In BC when you trade in your car you pay the PST and GST on the net cash value paid to the dealer so if your trade in is $32,000 and the new car is $60,000 you pay tax only on the $28,000 difference. I am not sure how it works in Ontario but at least here in BC that is an added incentive to trade the car in to the dealer.

I am surprised how much the trade in values have decreased in a few months, when I traded in my 36 month old 2006 330i (completely bone stock with no options) with 44,000km in July I got $29,500 from the dealer and that is after getting $4,000 off from BMW Canada and 5% off MSRP on my new 2008 335xi.

Same in Ontario.

Originally Posted by fizzerd

I thought there were penalties on returning the lease early?

Not if you re-lease or re-finance a car through BMW CA.

Originally Posted by markymarc1979

Just received an e-mail from the sales rep over at BMW Mississauga. Black book value on my car is 37K.

That means I lost over 21K over 1.5 years time. I looked up my original purchase agreement last night. Before taxes, the car was 58K.

Something is wrong here.

Originally Posted by markymarc1979

These people think I'm stupid. I would never in a million years take a loss like that.

Well, something is wrong, but it isn't something you can change. You've lost 36% of the value of your car over two years (you've only had it one, but it's two model years old); which isn't great but isn't terrible. Not only that but like I said, with US cars and the CAD that's just the way it is now. I am honestly surprised they offer the BB value. Luckily over the winter we won't see much depreciation on 335i's because the CAD is down and less cars are coming in from the US. Prices on used cars won't go up, but they will stop their steady decline. Unfortunately that does nothing for you if you trade/sell now. From a purely financial perspective it makes no sense for you to sell now. You're down 36% now, but you'll only be down ~5-8% more in the next year, less after that. It's the first two years that suck. So, if you don't want to take a loss, don't sell/trade the car.

This is the same reason BMW changed the residuals on their leases. They were offering 61%+ over three years. See the problem? After three years the car is only worth ~50-55%, so they were taking huge hits on leased cars.

So ok, a real question for you. Given your driving habits, is there are particular reason you're lusting after the M3? You really have to ask yourself if it's worth financing what will probably be $30k+? I've thought about it, but financially it makes no sense at all, so it has to be something you can justify.

[phil_]

Originally Posted by markymarc1979

Just received an e-mail from the sales rep over at BMW Mississauga. Black book value on my car is 37K.

That means I lost over 21K over 1.5 years time. I looked up my original purchase agreement last night. Before taxes, the car was 58K.

Something is wrong here.

You can look up the black book value online.

You can't go to the black book site directly, just go to this link and follow the prompts. Your car's black book is between $34,000 and $37200 (mint).

http://www.toyota.ca/NWS/english/con...n_vehicle.html

[markymarc1979]

Originally Posted by picus

Same in Ontario.



Not if you re-lease or re-finance a car through BMW CA.





Well, something is wrong, but it isn't something you can change. You've lost 36% of the value of your car over two years (you've only had it one, but it's two model years old); which isn't great but isn't terrible. Not only that but like I said, with US cars and the CAD that's just the way it is now. I am honestly surprised they offer the BB value. Luckily over the winter we won't see much depreciation on 335i's because the CAD is down and less cars are coming in from the US. Prices on used cars won't go up, but they will stop their steady decline. Unfortunately that does nothing for you if you trade/sell now. From a purely financial perspective it makes no sense for you to sell now. You're down 36% now, but you'll only be down ~5-8% more in the next year, less after that. It's the first two years that suck. So, if you don't want to take a loss, don't sell/trade the car.

This is the same reason BMW changed the residuals on their leases. They were offering 61%+ over three years. See the problem? After three years the car is only worth ~50-55%, so they were taking huge hits on leased cars.

So ok, a real question for you. Given your driving habits, is there are particular reason you're lusting after the M3? You really have to ask yourself if it's worth financing what will probably be $30k+? I've thought about it, but financially it makes no sense at all, so it has to be something you can justify.

I think your right. I went over to BMW Mississauga and took one for a test drive. To be honest, it didn't feel much faster then my 335 with an SSTT. Of course, I couldn't really rev it up that high because the speed limit was 50 where I was driving. The only reason I was lusting for an M3 is because I've always wanted one and because I thought now might be the best time to get one. I can't believe the depreciation on these cars. The Sales rep seemed pretty anxious to sell me a car and took even the most ridicolous offers into consideration. BMW Mississauga was dead, there wasn't a single customer there. All the sales reps were huddled around someones computer watching a you tube video.

Here's something else I noticed. There wasn't a 335 to seen anywhere. Nothing in the show room and nothing out back in their lot. BMW Mississauga is a fair sized dealer and carry a fair size inventory. Even on auto trader there aern't many 335's available. Conclusion: The 335 is the M3 killer.

For 20K less you get a car with similar performance. BMW really goofed on this one.

[who's ur daddy?]

No different than trading in any other car at any other time. Always sticker shock at how little they give you...