Quote:
Originally Posted by PAX5
That's a strange way of rationalizing the price of a car ...
The fact that it is CPO'd also means that you are not the original owner of the car ... BIG ding ... multiple owners!
Any assumable warranties NEVER maintain the full original value of the purchase, but they could prevent greater depreciation.
At 62K mi, this car has 3 values (mind you: value is NOT the same as price):
1. Trade in (or Manheim value): mid 30's. See attached
2. Retail value: mid 40's
3. WT (Wishful Thinking) value: OP's price
GLWS
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Hi Pax,
I agree with what you have posted, but just to clarify on your first point about the CPO issue. I have a very good relationship with my dealer, and this car was the owner's "demo" for about 6-7 months. If you consider that multiple owners than so be it, but I am the first private owner of this car. I paid extra to have the car CPO'd at that time because BMW didn't want to offer it because of the low mileage; just to ensure that I have the coverage and because all of my other BMW's are also fully warrantied until 100k.
I don't see any "DING" against the resale of the car because of that minor technicality.
If I posted it for sale for $25k I'd have everyone and their mother after me for the car. I posted it at $70k willing to hear "reasonable offers". This way, the kids don't bother, and I'm dealing with folks that have the cash and appreciation for the vehicle.
Price (what I'm asking), Value (perceived), Worth (market demand), and Cost (what I will sell for); all have different meanings to each individual. In order for a transaction to come to closure, all of these items must be taken into consideration and then an offer should be delivered to the seller.
So far, All I have heard is whining and mockery from individuals who clearly don't know how to engage in civilized business dealings. However, when they see my truck at my booth or at a show, they are the first to compliment the vehicle and state how "They wish they could have / afford / maintain / drive / own" this vehicle.
It's a nice car, I personally love the thing and the value to me is immeasurable but I tried to put a price on it and can start from there to figure out worth and finally cost based on adult discussion with a conscientious buyer who will appreciate the vehicle as much as I have these past few years.
