I am looking at 7 series in the 2006-2007 years to pick one up. Many many cars in the low 20's to mid 30's milage wise, that are running between 35K and 45K. Considering the value of the cars new, is there something i dont know here? The ones i am looking at are under warranty, and even CPO.

But im confused.. a 90K car 18 months ago going for 45?

 

We're in a recession.

 

No shit? When did that happen??? Thats it? I dont see the same value drop in the 5 series or similar?

 

The current economic conditions in combination with the notoriously bad resale value of the current 7 series has prices at their current point. People generally don't have a lot of interest in owning a high line luxury car that's used. Used car buyers tend to flock toward the 5 series and X models in heavier numbers.

Also, your basis for comparison is off, which is making the shift seem even more drastic. 18 months ago if you paid $45K for a 90,000 mile 750 then you're getting screwed.

 

I'd be willing to bet that the majority of the people who can and are willing to buy one will hold out for the new body style. Besides most 7 series owners I come across lease them which keeps a decent amount in the used car lot.

 

Used 7's have always depreciated more than used 5's (excepting M's) and those more than used 3's. Market demands I guess, more people see the 5's and 3's as being the affordable cars and buy accordingly. Or it could be the size of the car. Or the fun factor. Either way, look historically, the 7's have always been the used bimmer deals.

And like Statik and M5kid say, guys buying 7's generally want new.....used prices fall accordingly.

 

spot on... bought my 530i for $2k cheaper than I could have bought a 330i of the same year/same mileage...

guess the 3 series demand is still strong here.

EDIT: Post 914, must pay tribute to one of the great p-cars of all time...

 

Well, since it is kind of an extra car for me, i dont really need it new. I just really like the car and would like to own one, so hence why i started looking. Just was kind of shocked by the $ to year ratio, so i thought maybe something out there was driving it.

 

Based on your edit (great pic BTW), I wonder what Curvejunkie will post for his next post? (69)

 

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