smgfan

Well, I have had a great time with my TSX, but its time for something new and better. I put my car on the market, and I have a few questions. There is this potential buyer that wants to pay me cash (21,500) for my car. Should I be worred since he has a lot of money with him? I mean if you have that kind of money, why not just and buy a new TSX?

My car is a 2004 PWP NAVI/AUTO (30,200 mi). Once I sell the car I will be putting a deposit for a 2006 BMW 325i.

We are arranging for a test drive tomorrow, can anyone give me a few pointers of how I should go about this? I just dont feel safe giving my keys and seeing a stranger drive my car.

I am really going to my the TSX because it was first car, but I have always been in love with the BMW, and especially the 06 3 series. I have enjoyed this forum, learned a lot from it (LED replacement guide), and would like to thank you all.

With all that being said I still have to wait to see if this guy even wants to buy it!

Thanks,

Chompin

You can always do the transaction at your bank,especially if your loan isn't paid off yet. The bank will have the pink slip if the loan you took out to buy the car is still open. Thats where the new buyer will sign for,pay you and get the keys.

jlukja

Cash is always good.

As far as the test drive, make sure you go in the car when he test drives it. If you don't feel safe then have a friend with you when you meet up.

ltw91

Wouldn't you come out better if you traded it in. Dealer should be willing to buy your car for at least $20,000 which would mean at least $1600 less in sales tax (or more depending on your tax rate) that you would have to pay on the new car.
that would be like selling your car for 21,600 to an individual, and you don't have the worries of a test drive.

psteng19

Yeah, see what you can get on trade-in first.

Also, I wouldn't worry about a cash deal.
That's how I was ready to buy my TSX used, private-party.
It shows more financial responsibility than most who finance, since they're buying the car with money that they actually have, rather than taking out a loan.
Then again, maybe he took out a loan and will be paying you through his bank.

GIBSON6594

Someone using cash is not really a big deal. 21K is not that much money. No reason to be worried.

If anyone should be worried about carrying that much cash on them it's him.

plus, you can get fucked over with a check, can't really get fucked over with cash

smgfan85

Ive been to several dealers and have offered me from 17-18K. And I was trying real hard to get more. They told me that they need to make money too. One guy even encouraged me to sell it on my own.

ltw91

I would printout the Kelly blue book and Edmunds trade in value from their websites for your car and take them with you to negotiate. You should at least be able to get Kelly Blue book at $20,300 for your car. If not then play the game with them that you are still considering an Acura TL or a Lexus IS250. Don't be afraid to walk away from the table. If the dealer thinks that you have your heart set on the BMW then he will be less likely to want to deal.

smgfan85

According to KBB, a car that is in good condition should get me 19040. BMW and Lexus have both offered me 17-18k. My car has a bad scratch on the front bumper. That happened while I was parking my car in the garage. I guess I didnt have enough room.

JeffS

In CA it doesn't matter if you trade in or not. You are taxed on the price of the new car regardless of trade or cash down.

The tax rate I just paid in LA is 8.25%.

waTSX

Good luck with the E90. Let us know how you like it.

jaydub

That's good to know. I know that here in Nevada you're taxed on the difference between the two cars. Trading in my cars as soon as my loan breaks even has been good for me? Ok not really.

tony4311

Have a friend follow you and do not let him go on the test drive by himself.

psteng19

Dealers often laugh at KBB.
You will rarely get full trade-in book value for your car.

ltw91

You may be right. My dealer preferred to use Edmunds, which was fine with me since it was $400 higher for my 1998 CRV than KBB.

t_in_maine

Maine also charges sales tax based on what you actually pay for the vehicle. However, it charges for vehicle registration based on full window sticker. In fact, it now requires you to provide the window sticker upon registering your vehicle.

bradykp

i disagree about paying cash shows more financial responsibility. maybe it does for some people, but a lot of people who finance do so because there is better things they can do with the $30,000 cash (investing at a rate higher than a nice credit union or bank auto loan rate).

i would ask for a certified bank check though rather than "cash" literally. only because i wouldn't want to be carrying that kind of cash on me. or like the others said. do it at the bank, that way you can deposit it directly and not have to worry about carrying around the cash.

too bad you're "upgrading" (downgrading) to the BMW. the TSX is a great car, not a fan of beamers here (quality )

anyways. good luck with your sale.

ps. i did a KBB on your car in excellent and it's only 19,500. you probably are better of selling, especially if that CA tax thing is true.

in PA, you pay tax on the difference.

gsclifton

iTrader: (2)

Three Suggestions on a Dealer Trade:

One
Detail the trade vehicle to no end. I mean spend some time on it and do not forget the engine bay. If you do not have the time, pay a professional. I am not talking about a quick wash and vacuum. I am talking about clay bar the exterior all the way to the final wax. Get some touch and fill in the chips. Clean the interior with q-tips and compressed air if you have too, but get the interior spotless. Clean, detail, and condition every interior panel until it sparkles.

Two
Take in any receipts of maintenance you have had completed. I keep every receipt and document my vehicle well. I keep everything in a folder. Documentation proves you have maintained the vehicle.

Three
Shop dealer quotes on the trade. I even took my last trade and had it appraised at a Carmax.

If you do all this, you might get somewhere near what you expect on your trade after some arguing back and forth with the sales people. New car negotiation is a royal PITA IMO, but I would at least have some reasoning for what you are demanding on your trade.

The easier router would be to take pictures of your freshly detailed ride and advertise locally and on Autotrader. You will get more on an independent sale than on a trade in most of the time.

hawaiiantsx

for some reason...i always thought you could get a better deal and more value selling your car yourself then trading it in.if someones going to buy it for 21,500....then why not from you then from a dealer???i guess what i'm saying is...the buyer figures he can get it cheaper from a private seller, but if the dealer turns around and sells it for 21,500....then why should you take the loss in trading it in for 18000?i doubt they'll give you 21500 unless they inflate the price of the bmw....or i could be completely off base with this theory....and this is just my opinion....i think the tsx is a better car then the bmw...i look at it this way...how many acuras do you see over 10 years old on the road compared to bmws over 10 years old still on the road???just my opinion...bash away at me

smgfan85

In California, I see more BMW's (old and new) then Acura...

laee3

hmmph bmws are great car! it would been nice if it was lilttle cheaper tho! why not go for the 330i???? i always thought 325 was bit too small

hawaiiantsx

I guess it would depend where you live....i see alot more new and used acuras then bmws here in hawaii.....alot more toyotas and hondas too

bradykp

i see a lot of old beamers in PA/NJ/NYC. not to say i think they are good, as i'd never own one outside of warranty. too damn expensive to maintain. just not a good deal at all.

smgfan85

Update:

We have made a deal which I think was fair to both parties. Now that I am driving the car I feel so bad. Its like a parent "selling" their child. That being said, I cant wait for the BMW. I will go down later today to the local BMW stealership to place an order.

I'm so happy right now, but at the same time sad because im letting my baby go...

ninjamyst

I think the new 3 series is an awesome looking car. Please post back about your BMW purchase. I am also interested in the 325i....if only the price is a little lower. I priced one on edmunds and it was close to $40k after I figure in tax. Ouch.

smgfan85

The car is no longer in my possesion now. How sad...

The BMW will take 2 months from the date of order which I will be doing this Saturday.

Again, I want to thank all you guys for everything.

I will post once I have my new car.