horrendous srt8 trade-in value?

[jcicchetto]

I just went to a local BMW dealership and was quoted 22,500 for my 300c srt8. Anyone else getting horrible trade-in values for their srt8's?

[miplank]

Welcome to owning an LX.....

[MattRobertson]

shouldn't you expect to be hosed by a dealer trade-in?

[miplank]

Also, You didn't state year..mileage..options...condition. These are all things that will come into account when trading.


Though an 05 SRT8 300 with about 40k miles in excellent shape should bring $26,825

[NAS T MAG]

I just went to a local BMW dealership and was quoted 22,500 for my 300c srt8. Anyone else getting horrible trade-in values for their srt8's?

Also, don't forget what BMW stands for:
Big
Money
Wasted:rock:

[JJS]

Also, don't forget what BMW stands for:
Big
Money
Wasted:rock:


And...

Busted
My
Wallet

[chryslerking]

How many miles are on your car jcicchetto.......and if you don't mind me asking how much did you pay for it .......

[guest01]

My local BMW dealership just about laughed at me when I tried to trade my car. Stay away from BMW...e55 amg mercedes is the way to go.

[pir8magnum]

ALL cars have crappy trade-in value, period. If they give you a lot for your trade, it means they jacked up the price you're paying for the car, one way or another. Its just like casino gambling - the house always wins.

[MattRobertson]

good point. If you want a decent return on the car sell it yourself. Nowhere near as convenient but thats the way it is. I lost about 7 grand on my last trade-in. When I bought a car last month I kept my old one. Only costs $300 to insure per year so I'll wait on the right home for it.

[Super T]

My RT fared pretty well... because I bought an SRT. Otherwise, trade-in value on these things is absolutely pathetic.

[jaak]

I'd bet you could find someone here that wants a rad cap mod...

[stitchmonkey]

And I think Blue Book deducts $500.00 per mod

[jules2315]

One way to do it is if you try to get the BMW for less because your car was appraised low, then that's the way to do it. I use to work at BMW in sales so just tell them you want a bigger discount on the BMW. What model are you looking at buying and also remember that trading in your vehicle, the difference you will get in your sales tax will make up a bit of that difference. For ex. here in Calgary the sales tax is now 5% so if your car is worth 30k here, than that will be a savings of 1500.

By the way, an e55 amg mercedes is NOT the way to go. Gavin, I suggest you go and drive the E55 than the comparable BMW and you will see why BMW has the best brand loyalty out there.

Just my opinion.

[jcicchetto]

a little info on me and my car. Car is 2006 with every option except rear dvd. about 28000 miles on it. The reason they couldn't offer more was because they had taken a 300C SRT8 in trade-in before and couldn't sell it. Also, there is no sales tax here as I live in NH.

I was looking at the 335xi, so I could drive it year round since I have to deal with winter here. They took a small chunk out of the vehicle, and I told them the price range I wanted to be in monthly but they could not match it. Looks like I will be holding onto the car for awhile more. Not necessarily a bad thing :)

[MattRobertson]

And I think Blue Book deducts $500.00 per mod
Nope.

[Tbird100636]

a little info on me and my car. Car is 2006 with every option except rear dvd. about 28000 miles on it. The reason they couldn't offer more was because they had taken a 300C SRT8 in trade-in before and couldn't sell it. Also, there is no sales tax here as I live in NH.

I was looking at the 335xi, so I could drive it year round since I have to deal with winter here. They took a small chunk out of the vehicle, and I told them the price range I wanted to be in monthly but they could not match it. Looks like I will be holding onto the car for awhile more. Not necessarily a bad thing :)
Have you considered taking a small step down to a regular 300C (5.7L) but with AWD??? They are better in the snow than a RWD.

[jcicchetto]

I've considered it. But with the way this car has depreciated, I'm not sure if I would buy another Chrysler product. There is no need to sell the car, but I was just testing the waters. I liked the 335xi because of awd, gas mileage, and the ability to add a chip that adds 50-70hp seemed right up my alley. Although if I wait, I could see what they do with the X6 which has a twin turbo v8 option ;)

[porchy]

Those nasty dealers just offered me 20,000 for my r/t it felt a little insulting. I know how you feel. It sucks!!!!!

[jules2315]

With a new model BMW like the X6 that is coming out, you will have less of a discount when you buy it b/c its a new model. The best way is for a private sale and it seems like your in no rush so put in on the market and when you sell it, then you can have an option for a BMW. I have a 2006 Magnum RT and really like it, but would love a 335i or the new M3 when it arrives.

Best of luck!!

[ThePlague]

You should really think about keeping your car. ITS AN SRT-8 MAN!!!!!! This is what I do, I only drive mine on the weekends or if its nice out. (and that isnt often here in Washington) I drive a pile of crap to work and in bad weather. If I wreck it who cares, and it gets good gas mileage. I urge you to reconsider, your not thinking clearly....LOL

[Bandit]

Welcome to the club. There are at least 10 other threads about this on the forums.

Don't feel bad. Between the price of the car, and the $ spent on mods, I have about $65k into my car... last dealer offered me $28k.

And that was a DODGE dealer...

That's why I kept my SRT when I bought my GTO last week. F-em....

[Ultimatecarman45]

You get screwed trading a car in no matter what you do. You can look at KBB value all you like, you'll get 20% less than that most of the time from a dealer. Private sale and you'll get the right value but you'll also be waiting around for a while too usually. A car is one of the worst investments that can be made. Just enjoy it and realize you are paying for entertainment and transportation with the SRT.

[jcicchetto]

I expected to be low balled but not 22,500! This is an srt8 after all...it was just a shock to me. Lucky for me, I still have an srt8 to enjoy :)

[Bandit]

You can thank DCX and their "Employee Pricing" sales event that they ran 3 times in 06. That allowed people to buy SRT8's for $9k below sticker.

So now dealers compare your car to what other used ones are selling at, and since other owners paid $9k less... well, we got standard depreciation PLUS $9k to contend with.

[hmk123]

You must be short :-) I would feel cramped in a 3 series. Not as bad as in a C-Class or an IS but still... Agree they handle the road differently since they are smaller. But then you could go with a Golf GTI...

[Adam Control]

I know it's a pain but a private sale is the best. I totalled my 05 Magnum RT over the summer and got $22k from the insurance company. And it had 52k miles!! Old. Not an SRT8. No options. Alot of miles. Much different ballpark than your car so obvious logic means privately you will get much more than tha for your car!

[Hal'sMag]

I grew up in Pa. when it snowed alot, and lived at the top of a hill.

I drove some big block rear wheel drive cars, that did not do well in the snow with posi and snow tires. More aressive high end studded snow tires and weight in the trunk made a hugh difference - and I learned how to drive in the mess. The winter road salting was not pleasant though.
I found a second car, (with 4WD or just FWD worked well in the winter, when it was nasty).
I insured it as a pleasure only car (<7K miles/yr) and insureance was dirt cheap.
Having the 2nd vehicle was sometimes a blessing, and sometimes a hassel, but it kept my "pride ride" in the garage for much of the winter.

I've owned over 50 vehicles in my life, and your 300 would rank in the top 5 of all the vehicles I've owned. BMW would not make the top 20, and I've owned 2 of them.

[Kobe24]

initial markups for the early adopters are getting alot of us myself inlcuded, escpecially depending on your area.. they are still asking upwards of $50,000 for loaded SRT8's in the Pacific Northwest (Seattle Area).

The early dealer markups, the factory incentives chrysler did a while back, and the fact that the used car market is flooded with 300's yes non srt8's but when a dealer has a lot full of other 300 model's and they aren't really moving the new Srt8's as much the asking price isn't that high. I myself too thought that the car would re-sale or trade in for much higher but I think in time it will even itself out. I hate dealer markups with a passion as they so much effect a cars depreciation and if an owner is going to upside down inside of a loan. The CTS-V's are in the same situation for depereciation where they appear to be dropping fast,

but you also have to look at luxury high end vehicles look at an Mercedes Benz 2004 S430 retailed new 3 years ago for $80,000+ now you can buy one for $35,000-40,000 just think of the hit that owner took when he tried to trade in his car in just 3 years if he paid over 80,000 and they are selling for $37,000 they probably offered him 31,000 sobasically in a matter of 3 years the Mercedes driver would have lost $ $49,000

Look at the CTS-V retails for a Base MSRP $51,425 for say an 2004
Trade in Value for an 04 is estimated around $22,705 so they Cadillac owner just lost at least $ 28,720 that's without any delaer markups and going basically off the sticker price for 3 years

Lets take an 05 Srt8 MSRP for Base model 44,360 trade in value estimated $ 29,450 in 3 years the car is $14,910 difference so the 300 srt8 comes in pretty good shape in comparision to the CTS-V and much better then the hit the owner of the Benz took


Lets look at say an Acura TL 04/05 base price $ 34,650 trade in value with 50,000 miles is $19,085 the difference is $15,565


The SRT8 owner is actually losing less then typical other vehicles including the Acura\Honda which is perceived to very high resales in the market.


I am no longer that worried about trade in or depreciation as looking at what other ownwers for other vehicle types are goign through, my car brings a smile to my face every time I drive it. ( Priceless) Just think of the owners of the Shelby GT 500 when they were asking $15,000 over sticker to be one of the 1st, that comes back to bite the owners typically down the road in a typical loan or trade in.


Enjoy the SRT8 and with the new gas mileage restrictions coming you can have a classic on your hands as the HP wars may be coming down soon again

[miplank]

And I think Blue Book deducts $500.00 per mod


no it doesn't...just doesn't add anything

[done]

no it doesn't...just doesn't add anything

Speaking as a former sales manger at a car dealership. (A really long time ago.)

That depends on the mod. If the mod alters the lines of the body or is a non-standard color or paint scheme, then it will lower the value of the car, to most dealers, by the amount it takes to return the car to stock. Stuff that is easily removed is worth nothing. No mod adds any significant value to a car for most dealers.

They need to have a car on the lot that will have the widest possible market. You may like that two-tone green, but who else will. Think about the threads where appearance mods are debated.

As for cam/head type mods, if I were a dealer, I wouldn't touch it with a fork if I knew about it.

Now for the exception, there are used car dealers who specialize in unusual and special vehicles who can sell these highly modded cars. However, they won't pay any more than the other dealers as that is where they buy them.

Mods are for fun, not for investment. Take them off or take the beating, those are your choices.

[miplank]

Speaking as a former sales manger at a car dealership. (A really long time ago.)

That depends on the mod. If the mod alters the lines of the body or is a non-standard color or paint scheme, then it will lower the value of the car, to most dealers, by the amount it takes to return the car to stock. Stuff that is easily removed is worth nothing. No mod adds any significant value to a car for most dealers.

They need to have a car on the lot that will have the widest possible market. You may like that two-tone green, but who else will. Think about the threads where appearance mods are debated.

As for cam/head type mods, if I were a dealer, I wouldn't touch it with a fork if I knew about it.

Now for the exception, there are used car dealers who specialize in unusual and special vehicles who can sell these highly modded cars. However, they won't pay any more than the other dealers as that is where they buy them.

Mods are for fun, not for investment. Take them off or take the beating, those are your choices.


Your right...


I meant that as far as the "nada book" is concerned it doesn't. That is going to be up to your dealerships descretion.

I get ricers in here all the time w/there checker autopart mods that think there cars are worth a lot when in all actuality they're like 500-1000 cars.

However, at my dealership, if it's clean and done right we'll give you some extra for it, but regardless your never going to get your money out of a modded car. Private party or dealership.

But we Mod our cars for pleasure...not for profit