Only thing that stopped me was they where raping me on my Trade in, The BMW i was going to buy was a 2003 745i 16K all options with 3.9%. from BMW Financing. For a Huge car, it drives and handles and feels lighter then the CL.

My Car, 01 CLS 51K in excellent condition. BEST they could offer me 12K. WTF, they even called around to see if anyone wanted a CL at there contact dealers. Not one taker.

Now i'm the last person to tell cars depreciate, seems no one gets excited about the CLS, they tell the same story, discontinued car bla bla bla...

It got to the point, where they where telling to take the car for the night, leave mine there and think it over, come back tomorrow sign the papers. But i was like, if you can't do aleast another 2K for my trade whats the point.

I look at the new Retail values for an 01 CLS, and it could be safe to say you could probably walk out the door with one for 15K, so i guess there not too far of. Then i see the last CLS sold at the National Auction Center in Orlando for $10.7 with 58000miles.

See what happens over the weekend when they call, after all thats when the real games start ,you call me i guess you want to deal otherwise dont waste my time ....lol

So all you 01 CLS guys out there, its coming time to face the music, this car has very little value left, atleast down here in s florida

 

From my experience and people I've car shopped with, if you can afford to, don't trade. Just sell your existing car privately. You always hear about people saying how Kelly blue book says X and the dealer is telling them the value of their trade in is Y, blah blah.

Wowsers a 745i eh? Is that pre-Bangle or no?

 

he said a 2003 745, so that'd be bangled =D btw the bangle 745s are hot as fuck imo, dont know why everyone hates them so much.

 

I tired to sell it privately for 15K, not one call or email or PM from here. I've read on here other S Florida CLS drivers have had similar problems selling it privately, got frustrated and ended up trading it....

 

Unless you live in Illinois or any state that provides the same benefits to trading-in cars. In IL, the buyer is only taxed (sales tax) on the difference between the price of car being purchased and the agreed upon trade-in value of the car to be traded. So if you buy a $70K BMW and trade-in your Lexus appraised at $40K, you are only taxed for the $30K difference. At 9% Chicago metro sales tax, that's a $3600 tax savings. Of course, the more the trade-in is worth, the better. This only further encourages people who swap cars like underwear to continue doing so without suffering too much of the financial penalty. In this regard, swapping for new cars regularly almost makes very good practical sense.

 

The BMW he's looking at is 16K, if he got 15K for his trade-in (which was what he was trying to get in private sale), he's looking at 1K difference, and whatever tax it might be. But that's not the case, they want to give him only 12K for the CL, now it's a 4K difference. So how is that making it practical to swap the car??

 

I highly doubt the BMW was 16k. YOu couldn't get a 1995 740 for that much unless it has 200k miles, much less a newer 7. Maybe he meant 16k miles on the car, or 16k in options

 

I think he meant 16K miles on the 745i.

 

You're right. There's no way it could be 16K.

 

I feel your pain.

I almost traded in my CL for an 02 CLK430 but the trade in value sux.

This is one of the reasons I'm keepin' the CL 'til the wheels fall off.

 

yeah sorry guys it has 16,000miles in the clock.. I wish it was $16000 lol, sticker price on a full loaded 2005 745i is $80,000

 

I mean its not alot of money, financially i can afford to take the hit, but i've only had the car 1year this month, other than the TAX, tag and title, i'm taking over a $6000 loss in just 1 year, if it was a new car sure i understand that.. but the car is a 2001, the greatest amount of depreciation is when you drive of the lot and in the 1st year

Its just the principle of it all, yes i'm getting a good deal on the 745i, i CAN see the dealer is trying to justify giving me more money for the car, after all there selling a more expensive car, so i can only blame them so far. Dealers are not in the business for taking a loss.

Like someone said before the CL is the bastard child for Acura, they wish they never made it.

 

I guess the best you can do is trade in the CL and take what they give you. If what masmole described is available for Florida, that might be some compensation at least.

 

^^^ Florida does not have that TAX benefit so i can forget that. Well way i look at it, the dealer has got me auto Approved Via BMW Finance, they know i'm sold on the car, so if they really want to sell it ( which thats what there in business for lol ) they will find a way.

Like the sales guy said in the way out, the manager is not going to let walk away that easy, so i guess i'll be hearing from them this weekend.

 

I think the tranny issue and discontinuing of the model conspired to speed up the depreciation of the CL. You know the honest financial picture of the transaction. Either you want the BMW or no. They were dealing fairly with your trade, not raping you. The car's worth what it's worth, and you've seen that the demand is not there.

 

I agree...they are hot...especially with some nice wheels

 

Selling a car privately can be a pain in the ass AMHIK. Especially if it's a discontinued coupe.

My last car sat on my front lawn for almost a year without being sold. I should have just traded it in, 'cause it wasn't worth the hassle of selling privately.

I'll probably keep my CLS 6spd till 2007, see what new cars interest me, and see what the trade in value is. Might just keep the CL forever, but I'll see what it's worth w/ about 60K miles on it before I make a final decision.

 

i understand the fact that you want to get the most money out of your car, but if you can afford a 80k $ car you should be able to take a 2k$ hit on your CL-S... so if you really want the BMW just trade-in ur CL-S and step in your 745


btw, what color is the bimmer?

 

Yeah, if I *really* wanted the BMW I'd be like "WHAT CL-S?" "I thought I gave ya'll the keys already. Where's my 7 40 fizz-ive?!"

You already told us: money ain't a thang to you, G.

 

F900: It's called "principle" and I totally understand.

P.S. Citation X > F900

 

He said principle. Re-read the post.

 

Although the trade price seems about right, as you have seen, you might try Carmax, simple way to either get a few more dollars or find out that BMW is spot on.

Vandy

 

The only reason I did a trade on my CL instead of selling it private was because I was buying a new car. And yes, it's awesome that you only get taxed on the balance.

 

Speaking of taxes, does any state have a better deal than SC? Our sales tax is 5% and it gets capped at $300, so the sales tax on a Enzo would be $300. However, they get you on the back end with property tax on cars.

Vandy

 

You can do the same if you sell a car privately, and buy something else within 30 days (or something like that). At least that's how it is in MA. Just have to know to request and fill out the right paperwork...

Greenmonster, who has "played the game" with the RMV before. Those bastards ain't got nothing on me (nothing that I haven't been able to work around at least).

 

Well the games continue at the dealer. They called this morining ( 1st thing he said, you ready to pick up your 745i today lol ) I ended up giving them a deposit on the just to hold it to give them more time to get me a better trade in on the CLS, which is what they wanted to do.

If it was JUST a $2000 loss that be a no brainer... but if i'm to include the amount i put down tax etc.. i'm losing close to $8000 in 12 months, and that does not include the payments i've made, or any Mx been done to the car.

Like fast-tl said it is what it is, but what i have on my side is time, i DON'T have to get a 745i today, i got another 45days of warranty left on the CLS.

Again this is not a Money issue or can i really afford it, i just spent $12000 last weekend on a Radio control jet lol... which is one of my hobbies. If i crash it tomorrow, i'd be more pissed about that fact i have to wait 3months to get another one built, then spending another $12000.

Its principle, and i got to take a stand somewhere and see how much BMW want my business. Like i said there been fair, there working on it and we will see what happens

 

Damn thats a big ass jump from a CL-S to a BMW 745. How'd that happen?

 

That's a long story, i've always made good money, but the CLS is really the 1st true car i've ever owned. For many years for a few reasons, i've always had company/rental cars or when the Investment bank i fly for bought a company sometimes they had nice cars included in the deal, so from time to time, i could always take 1 car, until they decided what to do with them.

Up to last year, i liked driving different cars as the chance was always there to do so, i guess you could say it became a habit, but it came time to build up my credit so i was told to take out an installment loan ( car loan), as a 1st time car buyer American Honda Finance had a finance dealing going on for people like me.

I was going to get an Honda Accord coupe, but i wanted to look at all my options so i went to Acura. Seemed like the better car so i went with the CLS.

 

Continuing on.......

I never looked at owning a 745i, i've been in a few of them over the years but never gave it much thought, my interest was more in getting a 2005 Land Rover as my R/C jets have got bigger and they will not longer fit in the CLS. A client of mine who i sold a Corporate jet to we got talking about cars, and he told be his brother works for BMW Finance and that i was interested in a BMW car let him know, and he will get me a deal on one for dealer cost. So thats how all this came about.....

 

If you're going to drop that kind of coin on a bimmer, screw the 745i. For one, it is being replaced by a restyled (for the better) but not quite de-bangled 750i with 360hp over the current one's 325hp. Instead, why not get in line for an E60 M5? Now that's a real car and at least for the first 2 years will hold its value like an exotic due to demand. IMO, you're way too young to be driving that old-fart-mobile 745i. But that's just my opinion. If you like the car, get it but no sense in fussing over how much money you're going to lose on the deal. Good luck and post pics when you get it

 

go with the 5

 

I looked at them too, but i need to stay away from fast cars..its will only get be in trouble, which i've never been in and thats they way i want to keep it.

I've very competitive and i love speed, and when your on the road and someone want to race you know the rest. I thought as i got older i would grow out of it. I guess not.

masmole, when is the 745i been restyled, they told me its once every 7years is that not correct ??

 

You should be able to see spy shots at www.thecarcollection.com. They're pretty good with that sort of stuf. It's more a freshening that a re-styling.

 

Re: time on your side, I'm still confused here. You already know the honest picture on the CL-S. They're giving you a fair offer according to all sources, unless you try to sell privately. You've heard warnings against that as well.

There is no scenario here that will get your $8000 back. You can't avoid a significant loss here unless you avoid trading the car or selling it privately. You'd still have a nice loss to account for if selling the car privately. That's why I say the issue comes down to whether yoy *really* want the 745.

Since you have the disposable income to buy a $12K R/C jet and you know the BMW dealer's playing fair with you and they're holding to the good principle of offering a decent trade price, what's the REAL issue here? If money's REALLY not an issue, why not get the bimmer ANYWAY, and sell the CL-S when you're good and ready to a private party so you recoup more money. This way you jave the Bimmer, you don't get hosed on the CL-S' poor resale, and you're all happy.

You could buy the Bimer, post a FOR SALE sign on the CL-S now and when it sells it sells. You'll be pimpin the 745 in the meantime.

 

Uh, I mean carconnection.com, not carcollection.com

 

I wouldn't worry about having a fast car at your age. You may be too young to be driving a 7-series/S-class/A8 but you're old enough to be somewhat responsible about cars, at least for the safety of people and things around you. Yes, you'll probably still get your share of speeding tickets... but that's what traffic lawyers are for I think we grow out of our stupidity (in terms of driving like a retard with no concern for anyone's safety) in our early to mid 20's but our love for fast cars stay with us 'til we're old and gray. I've totalled a few cars when I was young, including the first car I ever bought on my own, a '99 A4 1.8T when I was 26. Glad to still be around in one piece but I've definitely outgrown my driving like a retard phase.

The 7-series update I speak of is not the 7-year overhaul typical of their product cycle but simply a facelft and engine update. The changes are mostly to the body panels, primarily the nose and rear end, and the only major change elsewhere is the powerplant. The 750i will have a slightly modified version of the X5 4.8is's valvetronic 4.8 liter V8 to produce 360hp. So it's not quite 5.0 liters but they will name it a "750i" for simplicity's sake. This car will be available in the US this summer/fall as a 2006 model. The short wheelbase version 750i is one hot car.

 

Well like i said about having time on my hands, i still have 45days left of full warranty left on the CLS, the CLA is in the same condition as the day i bought it and as of right now there is nothing wrong with, so its not like i have to go out a rush to buy a 745i, i mentioned the reasons how this whole bmw thing came about.

As for the $8000 i'm not looking to get that back, i figured that since in other post about maybe 4months ago, i was offered $16500 or worst case back then $15000 on a 05TL lease i was offered, that i'd be around $14-15K on trade. I just did not think the car would depreciate by that much in less then 6 months, considering a 01 CLS at the dealer are selling for about $16-$17000.

As of this morining there still working on it, so i'll just wait to see what they come up with.

 

Fingers crossed for ya....also depreciation is a b*tch of a reality, and each day it seems to speed up!

 

Thanks, and thats really the whole point of this thread, to show follow CL owners, that Value of the 01 CL/s has really depreciated in the 1st quarter of this year, and 02s are not far behind.

When i have time during the week, i'm going to go to a 2-3 dealers and see what they offer me, including carmax as someone said i'll never know until i try.

 

The CL looks like it’s gonna be one of those “drive it until it dies” kind of cars for me.
When my extended warranty runs out in 2009, I guess I’ll pick up another 6-Speed off EBAY for 2,000-dollars and use it for parts.