why did instant market value change on car I was looking at?
Asked by Bimmerwagon Jun 12, 2012 at 02:29 PM about the 2008 BMW 5 Series 535xi Sedan AWD
Question type: Shopping & Pricing
ZIp 57104 This is what it was. Now instant market value is higher- 30-something.
Cargurus
2008 5 Series 535xi Sport Wagon
Fair Deal
$1,317 ABOVE
Instant Market Value of $28,638
Price: $29,955
Mileage: 42,551
5 Answers
Bimmerwagon answered 12 years ago
Understand that, but why a change in a few days in a zip code where there are very few of these cars (if any) selling? Can dealers change the instant market value?
It may also reflect the vehicles coming through auction and the profit margins that dealers expect to make. If you really want to save on a lease return ride like the e60 Sportwagen, know you needs and the vehicle, then go to the auction with them. For $500 you can save thousands.
Bimmerwagon answered 12 years ago
Hmmm...Interesting! 1. How did you know it was a lease return? 2. If you're not a dealer, how can you go to the auction with "them" as you suggest?
Make friends with a used vehicle dealer. I have several that are "old friends of the family". If you have the personality, ask for the used car manager and make friends. Tell him what you are looking for. You might get an invitation to tag along.
If a seller tweaks the options on their listing, the market price will change.