Buy BMW i8 now or wait a few months?

Buy BMW i8 now or wait a few months?

Author
Discussion

mrv12

Original Poster:

7 posts

95 months

Sunday 17th April 2016
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Hey all!

I've recently been looking into getting an i8 over the past few months, but have been put off due to the hefty depreciation of the car. I will be buying a used i8, 2014-15 with some miles on the clock and I've seen some in the price range of £70-75k. The question is, has the depreciation of the car somewhat stabilised or does anyone think it's going to lose even more value? I've been told to wait a few months until the initial 2 year leases have come to an end, and have been returned to BMW.

Please let me know your opinion.

Thanks!

johnnyreggae

2,930 posts

159 months

Monday 18th April 2016
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According to Howmanyleft there were 11 cars registered in Q2 2014 which according to your theory might come off lease in the next couple of months - how is that going to affect the prices even if all of them are leased when many were probably BMW demo and have already been resold ? Q3 ends with 105 cars total presumably including dealer demo cars (again most resold) and I'm not convinced many early adopters leased so they could resell quickly

To be honest your theory reeks of urban myth !

Jordan210

4,503 posts

182 months

Monday 18th April 2016
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Having a look online shows currently there are 42 for sale just in the BMW network from 71k for a July 2014 car.

I would expect the price to only go one way when more earlier cars come on the market.

mrv12

Original Poster:

7 posts

95 months

Monday 18th April 2016
quotequote all
johnnyreggae said:
According to Howmanyleft there were 11 cars registered in Q2 2014 which according to your theory might come off lease in the next couple of months - how is that going to affect the prices even if all of them are leased when many were probably BMW demo and have already been resold ? Q3 ends with 105 cars total presumably including dealer demo cars (again most resold) and I'm not convinced many early adopters leased so they could resell quickly

To be honest your theory reeks of urban myth !
I wasn't aware of the Howmanyleft website, good to know.

But I believe in Q3/Q4 of this year is when the prices will come down. So I'll hold out until then. Thanks

JonV8V

7,175 posts

123 months

Tuesday 19th April 2016
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Going into winter prices always fall for fun day cars. As you look at cars over 2 years old you'll be looking at warranty bills or warranty extensions a year after buying which offsets the falling depreciation. Put miles on a car like this and you'll be hit hard on depreciation as there will always be low mileage ones about. There are few ways to own a 100k car cheaply and drive it.

wilwak

759 posts

169 months

Tuesday 19th April 2016
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I know that opinions are divided on the looks of the i8 but I personally think they are one of the best looking cars on the road. They are certainly unique.

The batteries are guaranteed for 8 years and will hopefully last a lot longer.

At £50k I think they would always represent outstanding value so I couldn't see them going that low.

Therefore in answer to the OP question I would feel that there's limited further downside in a £70k car.

I own one and absolutely love driving it. It's like nothing else in the road.


TheBMWDriver

591 posts

153 months

Monday 25th April 2016
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Just FYI I was just offered 15k off a new one on the phone without even asking much.

I assume they would go to 20k ore more.

JonV8V

7,175 posts

123 months

Tuesday 26th April 2016
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TheBMWDriver said:
Just FYI I was just offered 15k off a new one on the phone without even asking much.

I assume they would go to 20k or more.
I'd have thought so - Halliwell Jones have a year old, 3k miles car for £73k although the wheels do it no favours and there are a few with under 1k miles for not much more. Even buying new with 20k off at 85k would mean a big hit in year 1.

MrOrange

2,031 posts

252 months

Tuesday 26th April 2016
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Depressing. I paid full list for mine a couple of months ago and was told categorically that no discounts were available and if BMW caught them discounting they'd run the risk of losing thier franchise.

However, I do get a huge whack back in WDA (40% thru LLP) tax which explains, I think, why second hand versions (not eligible for 100% WDA) are so much cheaper as any company purchaser wouldn't entertain a nearly new car unless it's 25-30% under list.

kryten22uk

2,344 posts

230 months

Tuesday 26th April 2016
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JonV8V said:
I'd have thought so - Halliwell Jones have a year old, 3k miles car for £73k although the wheels do it no favours and there are a few with under 1k miles for not much more. Even buying new with 20k off at 85k would mean a big hit in year 1.
That said, the 0% APR deal on a new car is also good for another £10k+ benefit, which you wouldnt get on a used car.

johnnyreggae

2,930 posts

159 months

Tuesday 26th April 2016
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I heard they were going to increase production over the summer so presumably the discount must be viewed in the light of that and the relatively slow sales over the winter (Q4 2015 = 25% Q1 or Q2)

mrv12

Original Poster:

7 posts

95 months

Wednesday 27th April 2016
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I went to go see a 2014 i8 around 2 weeks ago, and checked the price today. They've reduced it by £2.5k from the price they told me, already!

Glad I'm waiting now. Unlucky to those who have bought brand new. rolleyes

MrOrange

2,031 posts

252 months

Thursday 28th April 2016
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mrv12 said:
Unlucky to those who have bought brand new. rolleyes
I *do* have the benefit of driving mine around whilst you're waiting to afford yours. And I will get my £45k tax rebate that little bit sooner, which is nice tongue out

comrie

287 posts

198 months

Thursday 28th April 2016
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I heard that part of the extra discount consisted of a fund that BMW i could put forward to help tempt prospective owners from rival marques and had to be approved by BMW i division first.....i think the fund could go up to £10k.
I can see early i8 owners being slightly disappointed after being told no discounts were available too now find that they are now available.....on the flip side i think it will help early i8 owners who love the car and want another one to push for a very good discount to stay within the BMW i8 family and maintain brand loyalty.



cheers stv

Amateurish

7,697 posts

221 months

Thursday 28th April 2016
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MrOrange said:
mrv12 said:
Unlucky to those who have bought brand new. rolleyes
I *do* have the benefit of driving mine around whilst you're waiting to afford yours. And I will get my £45k tax rebate that little bit sooner, which is nice tongue out
To get that rebate, do you effectively have to drive it 100% for business purposes?

mrv12

Original Poster:

7 posts

95 months

Thursday 28th April 2016
quotequote all
Amateurish said:
MrOrange said:
mrv12 said:
Unlucky to those who have bought brand new. rolleyes
I *do* have the benefit of driving mine around whilst you're waiting to afford yours. And I will get my £45k tax rebate that little bit sooner, which is nice tongue out
To get that rebate, do you effectively have to drive it 100% for business purposes?
This.

If your accountant has managed to get you a £45k rebate then this is the smart way to have an i8 but I think theres a bit more to it than just saying it's a car solely for business.

JonV8V

7,175 posts

123 months

Thursday 28th April 2016
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mrv12 said:
This.

If your accountant has managed to get you a £45k rebate then this is the smart way to have an i8 but I think theres a bit more to it than just saying it's a car solely for business.
Does it not mean to get a 45k rebate it means the car has depreciated to zero? You may get it in year one, but when you sell you pay a fair chunk of that back

blindswelledrat

25,257 posts

231 months

Friday 29th April 2016
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MrOrange said:
However, I do get a huge whack back in WDA (40% thru LLP) tax which explains, I think, why second hand versions (not eligible for 100% WDA) .
Is English your first language?

nbetts

1,455 posts

228 months

Friday 29th April 2016
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mrv12 said:
I've been told to wait a few months until the initial 2 year leases have come to an end, and have been returned to BMW.

Please let me know your opinion.

Thanks!
In my opinion I think that is a good fiscal move, there will be a few being returned after 24 months - and they will be hitting the market at the tail-end of the car buying season (if you believe such a thing exists)so the chances of the price getting a bit soft are good I hope. I say I hope as I have much love for the i8 and at around 60k~ ish - I think it would be a stonking car that really at that price point is just incredible.

Also, I am not certain they will actually go much lower than that - but it only takes a huge leap in tech and you could also be holding the iPhone 1...

All that being said, when I had a drive I was hugely impressed with it and I long for the days when it comes down to the sorts of prices I hope they will.

Of course, the moment I buy one I will convince myself that the price will not drop another penny. lol


johnnyreggae

2,930 posts

159 months

Tuesday 3rd May 2016
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Heard of some cars available built to order via 3rd party lease for six grand down plus about a grand a month all plus vat