Delaware 1M

[Yeineken]

Thought I would share. Went and checked out a local 1M. Wasn't for me (previously heavily modified/tuned/condition) so I'll post my findings for anyone else interested who's not in the area. Dealer hasn't posted much about it on their site and are still hiding it in the back lot. They pretended to know a lot about it. But didn't seem to know much besides the brochure text.

Few imperfections. Chrome exhaust tips were in bad shape. Rear spoiler was missing. Dent/scratch near the tow hook. Tow hook cover seemed to be MIA. Usually they throw it in the cup holder but I didn't see it. They were asking $55,900 firm. I couldn't budge them after pointing out the imperfections and the 24k mileage.

http://www.igburtonbmw.com/used/BMW/...4f61ba2cb9.htm

I believe this was the previous owner. http://www.1addicts.com/forums/showthread.php?t=1110976 he even said it was traded in for a Jeep which the previous owner in this thread claimed he would trade for.

[champignon]

Tell that lady with the blond hair and fuchsia top she needs to take better care of herself :-)

[Yeineken]

Originally Posted by champignon

Tell that lady with the blond hair and fuchsia top she needs to take better care of herself :-)

she was interesting. She was one of the sales persons quoting from the 1M brochures. Sadly sadly they were calling it the M1 and was M1 one the window paperwork.

[Reedomn]

Who would ever treat a 1M like that.....

[champignon]

I'm waiting for the M2 to come out, the price of the 1M to drop, and then I might buy a spare 1M to have around, just in case :-)

[Yeineken]

Originally Posted by champignon

I'm waiting for the M2 to come out, the price of the 1M to drop, and then I might buy a spare 1M to have around, just in case :-)

Agree. Maybe if this car is still around when the M2 comes out ill try again. But the dealer seemed to be digging into the limitedness of the car for its price. Not sure if they will come down at all after the M2.

[champignon]

Originally Posted by Yeineken

Agree. Maybe if this car is still around when the M2 comes out ill try again. But the dealer seemed to be digging into the limitedness of the car for its price. Not sure if they will come down at all after the M2.

I wouldn't care about this particular car, I'm talking about the market as a whole

[de85275]

I contacted igburton 4 years ago when i was looking to order a new 1M. They told me they were only getting one and the dealer was going to drive it as his personal car then sell it as a demo with a $10k markup.
I see they haven't changed the way they treat customers. Instead I went to Union Park in Wilmington, order the car I wanted with no markup, and couldn't be happier. Client advisor was Ron R. he suggested I do the performance pick up in S. Carolina it was fun.

[champignon]

Since we are talking about resales of 1Ms at this point, one of the last places I'd be looking for one would be at a BMW dealer. Best case scenario is that the car would be a CPO with a huge markup and ridiculous price. Other likely case is no CPO and ridiculous price.

I'm starting to get the sense that a lot of the 1Ms for sale by dealers, both BMW and 2nd Hand dealers, are for sale in the same sense that a lot of trophy homes and condos are "for sale." Basically, everything is for sale if you are willing to pay an astronomical price for it. If someone came to your house, knocked on the door, and offered you 2X what it was worth, I bet you would say, "when do you want to move in?"

So, I think that a lot of dealers have one of these cars on their lots and in their internet ads, up for prices they know that few if any will pay, and they are using these cars for their advertising value. If someone is finally willing to pay the asking price or near to it, they would taken your money and make a huge profit. On the other hand, the car is a draw into the dealership, it brings lots of internet traffic, and a lot of phone calls. These are all opportunities for a car salesman to sell the caller or visitor something else. Even if only 1/100 people inquiring about the 1M actually buy something, that is a sale they would not have made otherwise. And since the salesmen work on commission, it doesn't cost the dealer much to have the staff deal with the other 99 people who contact them and don't buy anything.

[Yeineken]

Originally Posted by de85275

I contacted igburton 4 years ago when i was looking to order a new 1M. They told me they were only getting one and the dealer was going to drive it as his personal car then sell it as a demo with a $10k markup.
I see they haven't changed the way they treat customers. Instead I went to Union Park in Wilmington, order the car I wanted with no markup, and couldn't be happier. Client advisor was Ron R. he suggested I do the performance pick up in S. Carolina it was fun.

Very nice. I haven't had a good experience at IG either. They refused to help me find a car when I was looking. Kept trying to push me to buy a car I didn't want and pushing their 128i verts on me. Ended up getting my car over in VA.

Where in Delaware are you? Im on the on the MD side between Cambridge and Salisbury.

[nachob]

Originally Posted by de85275

I contacted igburton 4 years ago when i was looking to order a new 1M. They told me they were only getting one and the dealer was going to drive it as his personal car then sell it as a demo with a $10k markup.
I see they haven't changed the way they treat customers. Instead I went to Union Park in Wilmington, order the car I wanted with no markup, and couldn't be happier. Client advisor was Ron R. he suggested I do the performance pick up in S. Carolina it was fun.

LOL..... that's the 1M smile for sure!!

[de85275]

Originally Posted by Yeineken

Very nice. I haven't had a good experience at IG either. They refused to help me find a car when I was looking. Kept trying to push me to buy a car I didn't want and pushing their 128i verts on me. Ended up getting my car over in VA.

Where in Delaware are you? Im on the on the MD side between Cambridge and Salisbury.

Newark.

[IEDEI]

Originally Posted by champignon

Since we are talking about resales of 1Ms at this point, one of the last places I'd be looking for one would be at a BMW dealer. Best case scenario is that the car would be a CPO with a huge markup and ridiculous price. Other likely case is no CPO and ridiculous price.

I'm starting to get the sense that a lot of the 1Ms for sale by dealers, both BMW and 2nd Hand dealers, are for sale in the same sense that a lot of trophy homes and condos are "for sale." Basically, everything is for sale if you are willing to pay an astronomical price for it. If someone came to your house, knocked on the door, and offered you 2X what it was worth, I bet you would say, "when do you want to move in?"

So, I think that a lot of dealers have one of these cars on their lots and in their internet ads, up for prices they know that few if any will pay, and they are using these cars for their advertising value. If someone is finally willing to pay the asking price or near to it, they would taken your money and make a huge profit. On the other hand, the car is a draw into the dealership, it brings lots of internet traffic, and a lot of phone calls. These are all opportunities for a car salesman to sell the caller or visitor something else. Even if only 1/100 people inquiring about the 1M actually buy something, that is a sale they would not have made otherwise. And since the salesmen work on commission, it doesn't cost the dealer much to have the staff deal with the other 99 people who contact them and don't buy anything.

i bought my 1M used from a BMW dealer in connecticut last year. I wouldn't call it "cheap" BUT i think i got a very good deal considering how great my particular car had its history documented, super well maintained, and with an owner who had purchased many BMWs from the dealer i bought it from and had traded his 1M in for an M5. I paid under market value and walked away a happy man......after a LOT of negotiation. I know i was happy because i've been watching the market very closely since then and STILL have not found a better deal on a VO......that's without even analyzing the cars' histories.

It's not easy for dealers to find that RIGHT BUYER who is willing to shell out the $$$ for the perfect 1M (i wanted VO, higher mileage, super well maintained, and fully loaded)-----so i knew i had the advantage rather than them having the advantage an really took them for a bargaining ride.