Worth of a 2001 740iL

[Neil4Speed]

My aunt is looking to get into an Luxury SUV for a little while now. She currently has a 2001 740iL with 96k on it and factory nav. The car has really barely been driven, and almost never in the winter (they have a pilot for when the weather is bad), and is in absolutely showroom mint condition.

By looking at ads in kijiji, autotrader, a reasonable price point seems to be around the $19,000 range but its hard to say if this price is actually realistic of selling prices in the open market?

[C4S]

$19K ????

No way you can get that much!

Well, it is a ~ 8-9 year old car, and it is a 7 series ... ( mean lots of problem, and sky high maintain cost )

If she is going trade it, she may get ~ $10K ... private sale, may be $15K

However, it all depends on condition as well, say if inspection II has just done, good tires, good brake, no electronic problem ... in mint shape .. and with just 96K km, she may be able to get more, but I doubt it.

:)

[Kardon]

Its scary to see how such a premium car is worth as much as a civic thats only a few years newer than it once its used. I'd have to agree with C4S though. You're really going to have to have a mint example to fetch anything near 20k.

[Neil4Speed]

Wow, I guess thats more of a realistic idea of price. I assumed that since the black book trade in value was $15,000, $18-19 Private might be reasonable but I guess not eh!

Anyone else have any input? Kardon and C4S thanks for the responses.

[C4S]

Well.. just because it is BUYER market now .. you are not going to get the TOP book value when trading a car anymore. ($10-15K book value on 2001 740) unless it is a HOT SELLER ... ( sadly, 7 series is not a hot seller )

Problem is, how many people are looking for a used 7 series??

Not anymore.

Don't get me wrong, it is a good car, however, even your auntie is going to keep it, it will cost her lots of $$ to maintain it.

If you are going to sell it in Beyond, then you can ask $25K ... since you are going to get low baller anyway .. :zzz:

[ExtraSlow]

Truly high end vehicles like this depreciate terribly due to high maintenance costs and a limited market.
I'd say you'll be lucky to get $15k for it, and it'll probably take a really long time.

[turbotrip]

realistically its worth $10-12k

[Neil4Speed]

Wow surprised lol, she bought it for about ~60 not to long ago - got to love depreciation!

You guys brought up some great points, thanks for all the input!

[Xtrema]

7s and 5s don't hold value as well as 3s. If you are going to keep a high price luxury car, keep something that's rare and collectible like a 850.

[C4S]

850??

NO way ! that is the WORST BMW for depreciation! ( one of the worst )

Due to SUPER high maintenance cost, not so good handling, high gas cost, bad electronic, bad/problematic engine ....

I have seen many 850i .. easy .. $5-10K service bill!!!

However, 840i is a much better car.

No dealer is willing to take 850i as trade..... so sad! :dunno:

[Stubby]

Sounds reasonable considering the maintenance costs...

Unreal though considering that new and almost 9 years later the car is worth $105-110k off the lot without any crazy options... loaded to the tits $145k so 9 years. more than $100k in depreciation is unreal!

[VaN_HaMMeRSTeiN]

12K Seems like a steal for a car of that caliber. If I had 12-15K for a new care, I would buy your aunts.
But I don't... so I wont.