Having a look at this car at 2 today it is listed at $13k
Carsales value it around $9.7-$11.7k.
How much do you reckon I should offer for this vehicle?
Update:
So I had a look at the car today, and it had a few minor scratches and a tiny dent. The tyres were also pretty worn out. But the deal breaker was the fact that he had no log book. So I low-balled him and offer 8.5k which he declined.
Have a look at what others are selling the same car for, don't go off those valuations sites. The current price seems fair for the age and kms
I see some expensive repairs and maintenance costs in your future….. but at least you will look cool whilst you splash your cash
maybe he works at ANZ?
If they worked at Westpac, it would have been a new one instead. :D
oil leaks and gearbox problems guaranteed lol
here is a link for 2008-ish BMW 120i E88 Auto with between 50k-150k kms.
36 cars ranging from $12,000 to $20,950
Generally speaking Carsales are just using the Redbook value as their price guide. What they might not be doing is including any optioned extras on the vehicle. According to the listing the vehicle also has Exterior Mirror Package / Adaptive Headlight - (Cornering/steering) / Electric Front Seats / Heated Front Seats, which were around $5K new, again according to Redbook. So adding an extra $1.3K to the high side of the valuation, considering that the kms are on the low side, it's not too unreasonable.
https://www.redbook.com.au/cars/details/2008-bmw-120i-e88-au…
My vehicle was on Redbook for @ $7k. I ended up selling it for $3k. I did however get ridiculous offers through Gumtree etc.
I'll give you $1000 cash
Oil rig?
$500 and I'll come this afternoon.
$250 but you deliver to me and don't say no because my kids have cancer and they'll cry if they don't get it.
Don't offer anything before you get it checked out by a mechanic.
How much do you think he should offer the mechanic?
Must be less than 13K :)
Cool car. I would offer $10.5k-11k subject to a mechanical inspection. Based on the results of that you may want to adjust the offer to cover any repairs. I would ignore all the negative comments from people who drive boring camrys and corollas in this thread.
Thanks that's what i was thinking
I agree with the "offer 10k - 11k subject to mechanical inspection". But it's a ten year old BMW. I don't mind that OP wants to buy it (it's their money after all), but if OP thinks it'll run without issues, they're going to be in for a pretty rude awakening.
Lol, it's not like he's buying an M3, it's a 120i, one of the most boring BMW's possible, on top of that they leak oil like sieves and are expensive to fix, especially if it's leaking through the eccentric shaft sensor or anything else vanos related.
The ultimate driving machine
good luck looking cool in this turd of a car
Get it to free
I wouldn’t buy a 2nd hand BMW, I rather buy a new Japanese or Korean cars, stay out of trouble:)
You'll also need to get a roadworthy certificate so there will be additional costs depending on the condition of the car.
As much as you can?
Read up some known problems with the car model as it might help you. My friend bought a BMW (about same year as this) and was known to have electric window problem. Sure enough, it went out on him few months after he buy it.. lucky he bought from a dealer who gave him a 1 year warranty so he was covered. Otherwise it would be an expensive repair
Get the car to Auto service for full inspection report first then make an offer based on that report.
135i or nothing
Only problem with the 135i is the number of them that have been driven by hobby track racers (because it is a great car to drive).
I always see them on the island GP circuit.
As mentioned, generally the valuation does not include any options. Also the valuation is a national metric. Local market forces and manufacturer discounting may influence these prices in ways which are not reflected in the valuation.
I'd start at $9.7k. Throw the offer out to a few similar sellers. Eventually, someone will be willing to negotiate.
Yep, the one with known mechanical issues or fked up paint 😂 Lol we're not talking brand new cars here, we're talking old used cars, no 2 are the same
If you view it from the eyes of an appraiser, valuer, salesman, sure. I see no dispute.
OP wants to know how to negotiate. First rule of negotiation - be in position to walk away.
Placing multiple low offers immediately removes temptation to make a hasty decision. Whether it is just illusory or actual, the buyer now has multiple options.
Offering below reasonable also doesn't decrease the buyers chance of an offer because an offer can always be increased. No sane seller is going to refuse a new offer based on a low previous offer.
If a seller entertains negotiation from $9.7k, the psychological impact of negotiation to $10k is greater than from $10.5k to $10.8k. An increase in the number of figures often has a huge impact, hence the $9.99 price tags.
You may well arrive at the same price if you were to start from $11k opening offer, but if you started at $9.7k, the seller gets to celebrate the perceived victory.
The description is pretty vague ask a lot of questions before making an offer. Get some ammunition to bargain with.
So I had a look at the car today, and it had a few minor scratches and a tiny dent. The tyres were also pretty worn out. But the deal breaker was the fact that he had no log book. So i low-balled him and offer 8.5k which he declined.
If you really want this particular example then I suggest waiting and remind the seller once a week that your offer still stands. After others come and go for the same reasons, they could very easily come to you. By which time you could say your budget has been reduced by $500 due to other reasons.
Log books mean little or nothing.
I know of people who have purchased blank log books and got their friendly mechanic to stamp them when time to sell arrives.
Offering 8.5k when they are currently asking 13k? I'd refuse also.
Try offering 11k, that's a lot more realistic.
If the car has been for sale for a few months without any interest they may consider somewhere near your current offer.
If you're prepared to part with $11k without a mechanical inspection on an older BMW with no service history, I have some awesome magic beans you might be interested in 😂
Seriously, just walk away from it, there'll be others
Maybe, but that doesn't change the fact that someone else will be prepared to part with $11k, even if it doesn't have log books. Some buyers care, some don't.
I'd refuse $8.5k if I was the seller.
And yeah, I would also walk away if I was a buyer.
Yeah, I knew there was gonna be some inherent problems with the car, especially with no log books. So, I lowballed him.
Definitely get it checked out.My 10 year old BMW will cost me $9000 to get fixed by BMW - sigh! Yes it also had a leaking oil which has been fixed for another fee.
Lol, this car is lucky to sell for anything above 9k. Your offer seems about right, wait for 4 weeks and he'll drop the ball
Not sure if you have already bought it, but I would highly recommend stretching yourself to a 125i of the same series. The 6cyl motor is so much better.
It is the kind of car that someone who actually likes BMWs would buy. Unlike the current 125, E series being a 6cyl is also a much better track car. You will have no trouble reselling in the future.
Haven't purchased a car yet, but still looking.
the 2019 1 series will be a 4cyl front wheel drive POS
I believe fans will look back to the E 1 series as the last of the decent small BMWs in the future.
test drive a 125, you won't regret it
Shouldn't be getting it at 13k. A 2010 320i goes for around 13k and is newer + more stylish + more powerful. But if you're strictly looking for the smaller size of the 120i I would not be paying over 9k for a 2008 model (unless its like the executive line or equivalent)
how many kms ?
Also there is no shortage of bmw's if this one has no logbook and service history, wait, look around for another car even if it takes a couple weeks
Yeah that's the plan. Im heading off overseas for a month, I'm gunna have a better look after I'm back.
how about contacting the seller?