So its a 2022 MYP with 8,460. No modifications other than PPF on front of hood through A pillar and some PPF on rear doors. Perfect condition. No scratches. Never smoked in. No accidents. No check engine lights. Garaged the entire time of ownership. Only used hand carwash.
Using KBB (I don't have the other options), it says my theoretical trade-in value should be $60K-$64k with a value of $62,287.
-Carvana was $49,479. On 8/4, my offer with 5,446 miles was $61,936
-Driveway was $50,000. On 8/11, my offer was $65,000.
-Vroom was $51,000. On 8/10, my prior offer was $69,000
-Carmax still waiting.
-TrueCar's True Cash Offer is $59,200. Three locations claim they want to buy it. Only one seems reputable (Honda dealership). The other two were used car dealerships that I assume are those predatory lending type places. I'm taking it to Honda to see if they will honor it.
-Cars.com also offered $59,200. It was one location near me but a used car only place. The reviews on this one from Google look ok but again I'm concerned its one of those places for people who don't have great credit and they just kill them with fees / high rates. I just worry somehow if I were to sell these places, somehow they would drag their feet on the check or something really weird and tie up my purchase.
What I was planning on purchasing was a BMW IX50. I actually had ordered it in January (Ordered MYP in Nov 21 and got delivery in Feb 2022). Original delivery date of IX was suppose to be August as I took over someone's slot that was supposedly cancelled back in Jan. It arrived at the dealership today. Because of the delay, I most likely lost the $7500 tax credit after begging them in August to figure out how to make the contract binding. If delivered back then, well you can see the values I had above and so w/ the Vroom offer I would have actually made money driving the MYP.
Why get an IX? The suspension in the MYP is tolerable but very unrefined for someone coming from only owning BMW, Mercedes, Lexus previously. I liked the idea of air suspension even if there is potential maintenance costs. I also liked the idea of a heads up display and instrument cluster. Would prefer an even quieter vehicle. And I'm just used to more luxurious interiors although the MYP is perfectly serviceable. Service on the MYP is somewhat of a concern. I've had a few things they've had to sort out and each time, I had to wait about 3-4 weeks to bring in the vehicle w/o a loaner. Meanwhile, there are 5 BMW dealerships within 30 minutes of me and can always get a service appointment fairly quickly w/ a loaner.
Can I afford the IX50? Sure. Am I underwater on the MYP? No. But I have studied some of these public companies. Generally they make $3K in gross profit selling a vehicle. Just on the vehicle (ex F&I), they tend to make about $2K. So while I get that they are concerned about taking risk here. There would be no reconditioning costs involved in this vehicle. Just feels like they are really trying to rip off people here to offset prior inventory that they have that could be at a loss right now (although I would have thought if it sits on the lot for more than 60-days, they would just wholesale it). Just so frustrating. If the Carmax or Honda thing doesn't work out, I guess I'll just have to live with the MYP. If my kid was more like 14-15 and not 11, I'd just deal with it and then give them the vehicle when they get their license but in 6-7 years and own both IX and MYP but I suspect this MYP won't be something she'd want to drive by then (and should a new driver really have a MYP?). Sigh.
I'd also like to point out that I get this is somewhat of a "world's smallest violin situation" when taking in the context of all the things going on in the world. But it still just sucks.
