Join Date: Mar 2010
Location: Winston Salem, NC, USA
Re: LT's poor re-sale value?
I just bought an '03 LT, same color, 88k miles, in showroom condition, from a BMW dealer, with all the bells & whistles (I guess so anyway GPS, CB, etc).
I paid almost a grand less OTD (w/ tax & tag) than what you're asking. I'm in a different part of the country & my bike has 30k more miles so I'd guess you're pretty close to a reasonable price. Esp if you're like most sellers & willing to negotiate a few $.
Around here, this is the beginning of the riding season & bikes are starting to move from both dealers & private individuals. This is the time to sell. My old bike sold in less than 12 hrs on craigslist a couple weeks ago.
I also agree it's totally a buyer's market for any type luxury vehicles right now. Just picked up a Mercedes Benz E350 this weekend for a steal. This was from a M-B dealer & I got a better deal than I could have from a private individual.
You gotta think there's lots of people out there who could barely afford this stuff to begin with that have faced income loss or reduction over the past couple years. Expensive or indulgent things are first to go. You're competing with the guy with a similar bike who has to sell it to make next month's mortgage or put dinner on the table - he doesn't care as much about getting what's fair - he just has to get it sold.
So really, you decide "at anything less than $X, I'd rather just keep it", & just hope for the best.
Cycle Trader around here is popular. Lots of dealers & individuals use it. I found my bikes that way but didn't consider using them to sell since the ads start around $50. Maybe you're at the point where you need to expand beyond craigslist though - after 8 months it might be worth the fee to try Cycle Trader or eBay?