How to unload my POS so i can buy something new

[masseydl]

So my 1983 BMW 528e is crapping out on me. The driveshift centering guide is going, and it's gonna cost 200-300 bucks to fix it (NOT worth it).

So I want to sell the car, but I don't want to screw someone over by selling them a car with mechanical problems. I also hear that trading a car in to a dealership is a rip-off. The problem is that I need the BMW money to get a down payment on a new car.

Can anyone give me some advice on the best way to get the maximum value for this thing? IS the trade-in option a waste of money?

I'm an automotive moron so any advice/help is greatly appreciated.

[planet_keeper]

well charity is one option. i dont think they refuse much as long as it isnt a total wreck. another option is parting it out but that can be time consuming and possibly have a bad return depending on the demand of the parts. the way alot of ppl seem to go to dump their pos cars is on www.craigslist.com. theres good cars there but theres alot if junk too and someone might just see that it's a car for less than 1k and go for it.

[MagicRat]

Just sell it in the local classified ads in 'as is' condition.
Most communities have some kind of 'auto trader' newspaper that costs $20-40 to rubn a photo ad. Also there often is a classified paper with free ads where cheaper/older cars get sold.
Take a look in these and see how much cars like yours go for. Don't price too low or too high. You want to allow for some negotiation room, but not scare people away with a sky-high price.
Also be truthful about the car and the work it needs. Most buyers appreciate an honest approach and hate deceptive sellers.
Lots of people would love to have a BMW, even a cheap, old one, so your car should still fetch a decent dollar.
Do NOT trade it in at the dealer. Yuo will get little for it and it restricts your negotiation room with the sales dept for your new car.
New car dealers cannot sell your car. To them, it is simply a burden, they will just 'wholesale' it to a used car lot or auction for a couple of hundred dollars, or just send it to a wreckers.

[Andydg]

Like MagicRat said...just be honest about it. When I sold my Eclipse it had some problems and I was honest about it in the ad and in all the conversations I've had with potential buyers and it turned out well.

[masseydl]

Awesome advice guys, thank you very much.

The only major problem is that the driveshaft centering guide is a bit screwy (or so I've been told). From what I understand, that shouldn't be that big of a turn off to potential buyers, right?

Also, it's an old car with only 100,000 miles on it. Any chance of being able to sell it to a collector or something? Not exactly a classic, but for being so old with so few miles, I thought it was something to look in to.

thanks again.

[curtis73]

You won't get much luck with the "classic" route. Just sell it as-is and make sure you mention that it has this wrong with it and you were told it costs $200-300 to fix. Sell it to someone who wants a cheap car and is willing to fix it.

One man's junk is always another man's treasure. Put it on Craigslist for $900 but take $700. That way someone gets a good car for $700 plus $200 to fix it. I would if I were looking for another BMW right now.

[curtis73]

And furthermore... the trade in way will be a rip for you. Even if you go during one of those $3000 guaranteed trade in sales, they'll stiff you for $3000 above invoice price on the new car. They get their money anyway you look at it. That kind of car if you trade it in will go straight to wholesale auction and bring $150. They know that, so they get their money on the purchase of the new car.

[masseydl]

Very good advice curtis, I think that's exactly what I'll do.

Thanks!

[RicerKid15]

in my perspective trading in rips u off big time, i kno a friend who only got 4k for his trade in and was blue booked 8k.,