Why I Turned Down a $4,000 PROFIT on My BMW
I could have made $4,000 in profit on my BMW 428i, but I turned it down! In this video, we are going to be talking about how crazy the current car market is and what, if anything, you should do about it. Specifically, we go over whether or not you should buy a car in 2021 and what to do if you have to buy a car this year when values are absolutely insane.
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About this video: Should you buy a car in 2021? That is one of the main questions we answer in this video. We also talk about why I turned down a $4,000 PROFIT on my BMW 428i even though I want to sell my car. In truth, I want to sell my BMW, but I can’t. However, my reason for not being able to sell is a bit different than many other people who haven’t been able to sell their cars in the past.
I have driven a BMW 428i of some kind for over three years and well over 100,000 miles. I’m honestly sick of BMW 4 series. On top of this, I live in Florida on the beach, and while the views are awesome, the roads are flat and straight. Not really the recipe for a BMW sports car.
Now, I do love this BMW 428i. It has the stunning Estoril blue metallic paint that you could get with the M-Sport pack. It has the BMW M-Sport package with the steering wheel, BMW M door seals, and the metal M-Sport interior. It doesn’t have a back-up camera which I personally think is very odd for a 2014 car, but overall, this is a very well spec’d BMW and it is honestly my dream BMW 428i spec.
However, loving a car doesn’t mean you will keep it forever. So, I started trying to sell my BMW, and too my surprise, everyone wanted it! I was offered a $4,000 profit after driving the car 18 months and adding 12,500 miles to it. This struck me as odd, but if you can profit on a BMW, you should take it. Right? Well, I quickly learned why I was being offered so much for my BMW 428i.
You see, there is currently a microchip shortage that is slowing down the sale of new cars. This is pushing used prices up like crazy with used car values regaining years of value in just a few weeks. Truthfully, this is a great position to be in, and I would love to take advantage of the current market.
The only problem is that if I sell my BMW I will need to get another car to drive, and considering the market is incredibly inflated, I would be overpaying for the next car. I don’t want to overpay for a car as that just ends with nasty things like upside down loans and negative equity. I’ve dealt with that in the past, and I will never put myself in that position again.
So with that, I can’t sell my car, and I turned down a $4,000 profit on my BMW because I don’t want to buy a car that is overpriced. And truthfully, you should not buy a car right now either for that same reason. If at all possible, wait for the car market to come down in value and then buy the car you have always wanted a much reduced price.