Struggling to sell my M135i
Discussion
Last year I sold a 2010 118d coupe after I had no luck selling privately (not the best spec) at £12k so I called quite a few dealers - their bids were between £10k and £11,300 so it pays to phone around. The best bid was from Listers (they had advertised in the Sunday Times as buyers) - it meant dropping the car off in Kings Lynn (travelled down from Edinburgh) but was worth it for the higher offer. For me it made sense to take the small drop in price rather than the aggravation of continuing to advertise something which was dropping in price every month.
I lost interest at the sight of the list that is the first 3/4 of the advert. Not a fan of the wording of the rest of it either - 'can meet up somewhere, no worries' and 'unless you have proof of insurance I will be doing the driving' sounds cocky (and adds to the Forces comment below)
It's needed topping up 2l of oil, hasn't been serviced and is being sold at a year old by its second owner? It's also ended a pair of front tyres but not rear ones? Setting off a few 'lemon' alarms for me.
Forces owner + fast car doesn't conjure up impressions of mechanical sympathy (rightly or wrongly!)
It's needed topping up 2l of oil, hasn't been serviced and is being sold at a year old by its second owner? It's also ended a pair of front tyres but not rear ones? Setting off a few 'lemon' alarms for me.
Forces owner + fast car doesn't conjure up impressions of mechanical sympathy (rightly or wrongly!)
I imagine a new or sub 2k miles 14 reg with that specification could be had from a BMW dealer for £25-26k. Your current price of £23k for an 18 month old private sale seems far too high in that context. I would have thought £21k max, but probably £20k.
Edited by 335d on Friday 29th August 17:37
What is the WBAC price now? I'd bite the dealers hand off if you can still get 21k today.
I'd drop the comments in the ad about the oil saga, being in the forces and the insurance - all irrelevant and adds nothing. Just stick to the facts about the car.
Price is key to see why it hasn't sold. Looking at the spec against what is in dealers then you're going to struggle I think. Combined with no nav and no met paint it's a tough sell sadly.
I'd drop the comments in the ad about the oil saga, being in the forces and the insurance - all irrelevant and adds nothing. Just stick to the facts about the car.
Price is key to see why it hasn't sold. Looking at the spec against what is in dealers then you're going to struggle I think. Combined with no nav and no met paint it's a tough sell sadly.
Per above, price far too high.
In all honesty, that's a pretty average spec, with the omission of NAV pretty bonkers these days on any mid to high end German car.
You should get close to £20k from the trade. For a private sale expect c. £21k but do settle the finance beforehand. Also get rid of reference to oil use and insurance. There are plenty of these about so don't look your appear to have issues, or that you may be prickly to deal with.
Remember a private buyer can lease your car new for around £300 a month.
In all honesty, that's a pretty average spec, with the omission of NAV pretty bonkers these days on any mid to high end German car.
You should get close to £20k from the trade. For a private sale expect c. £21k but do settle the finance beforehand. Also get rid of reference to oil use and insurance. There are plenty of these about so don't look your appear to have issues, or that you may be prickly to deal with.
Remember a private buyer can lease your car new for around £300 a month.
Stan 24v said:
WBAC offered £19k three months ago! A dealer offered £21k, but at the time prices were higher.
I'd give we buy anythings another try but don't just try wbac, the others out often give a better price and xfer the monies almost immediately after the deal has been done. iirc wbac xfer the monies a couple of days later unless you pay for a quick xfer.They seem to be desperate for cars at mo offering me an extra £300 from last march (cars only worth £2500).
Btw IMHO the outstanding auc finance is not problem as long as you state it will be cleared, and as others have said l think its a plus point. Easy for the punter to check it's been cleared with hpi.
Several things.
Firstly, WHY isnt it on Autotrader? You're excluding a lot of prospective customers.
Secondly wrong spec for that price - white, no NAV and not auto.
Thirdly, too expensive - you can buy a car in a better spec from main dealer for a few £££'s more
Fourthly - the reference to finance - off putting. Remove it but explain to any VIEWERS theres finance and they can pay the finance company direct.
Also, i'd be trying ALL the we buy your car sites - there will be significant variance.
I'd also be ringing round main dealers, ask to speak to the person responsible for buying cars and see what they will offer you for it.
Firstly, WHY isnt it on Autotrader? You're excluding a lot of prospective customers.
Secondly wrong spec for that price - white, no NAV and not auto.
Thirdly, too expensive - you can buy a car in a better spec from main dealer for a few £££'s more
Fourthly - the reference to finance - off putting. Remove it but explain to any VIEWERS theres finance and they can pay the finance company direct.
Also, i'd be trying ALL the we buy your car sites - there will be significant variance.
I'd also be ringing round main dealers, ask to speak to the person responsible for buying cars and see what they will offer you for it.
folos said:
Agree with that post about the advert in the rear window - I mean no offence to you but it does give the impression that you're desperate to sell it. Might make the prospective buyer wonder if there's an ulterior motive for your sale (faults etc).
Any fault would be covered under warranty, but i do agree RE: advert on back window - its more "£500 car on a council estate" than year old performance BMW.Definitely think its a mistake not advertising on the mainstream sites like autotrader.
ALSO, a couple of other things :-
Firstly i'd remove the "its had two litres of oil added" - makes it sound like its using an excessive amount of oil.
And secondly not sure its necessary to be telling them your job and armed forces location - it doesnt add anything. Could be a bit off putting for some.
Also, remove the pic with the ad in the back window and taken outside poundstretcher. The ad in the window and the pound shop in the background do nothing for the car, and also psychologically say "i'm going to meet you in a car park, not at my home"
Firstly i'd remove the "its had two litres of oil added" - makes it sound like its using an excessive amount of oil.
And secondly not sure its necessary to be telling them your job and armed forces location - it doesnt add anything. Could be a bit off putting for some.
Also, remove the pic with the ad in the back window and taken outside poundstretcher. The ad in the window and the pound shop in the background do nothing for the car, and also psychologically say "i'm going to meet you in a car park, not at my home"
As I said on the other forum, you've missed the boat. A car almost identical to yours was advertised there at the same time as yours for £2k less but quite a few miles less. It sold immediately at £22.5k. I missed out on it.
It was manual and no satnav btw. The low spec cars are the ones that have retained the most value in % terms, as confirmed by TRL. Lack of sat nav and manual not an issue. It's actually harder to find manuals than autos and what counts is the balance between supply and demand. Plenty of autos around that don't sell, not many manuals.
There are plenty of people out there (at least in SE England) with cash who buy at the right price, even privately, like me but yours was grossly overpriced, sorry.
The low spec M135i have done very well so far in terms of retained value if bought right (as always). The £22.5k car lost less than £4k in the first year, which is superb. It was well on its way to a sub 40% depreciation over 3 years.
The £300/month deals stopped in December 2013 AFAIK, unless they are back now?
It was manual and no satnav btw. The low spec cars are the ones that have retained the most value in % terms, as confirmed by TRL. Lack of sat nav and manual not an issue. It's actually harder to find manuals than autos and what counts is the balance between supply and demand. Plenty of autos around that don't sell, not many manuals.
There are plenty of people out there (at least in SE England) with cash who buy at the right price, even privately, like me but yours was grossly overpriced, sorry.
The low spec M135i have done very well so far in terms of retained value if bought right (as always). The £22.5k car lost less than £4k in the first year, which is superb. It was well on its way to a sub 40% depreciation over 3 years.
The £300/month deals stopped in December 2013 AFAIK, unless they are back now?
Edited by nickfrog on Sunday 31st August 14:22
The manual argument is a subjective one - I'd choose a manual every time as a flappy paddle is a complicated and relatively fragile gimmick which will cost more to fix when it (inevitably) fails with age. A true auto - forget it on a car of this size. It's not a wafting car it's a driving car.
White. Definitely an issue. Historically white has looked good on a handful of cars which will always be able to get away with it. Recently it became fashionable to have a white car whether it looked good or not. Those days are over so now white looks deeply unfashionable.
Outstanding finance. Clear it. I wouldn't buy a car if I were going to be lumbered with sorting it out. I just wouldn't want the hassle.
White. Definitely an issue. Historically white has looked good on a handful of cars which will always be able to get away with it. Recently it became fashionable to have a white car whether it looked good or not. Those days are over so now white looks deeply unfashionable.
Outstanding finance. Clear it. I wouldn't buy a car if I were going to be lumbered with sorting it out. I just wouldn't want the hassle.
MitchT said:
Outstanding finance. Clear it. I wouldn't buy a car if I were going to be lumbered with sorting it out. I just wouldn't want the hassle.
I would always prefer to buy a car on finance than give someone I don't know my hard earned. If the car is on finance it can't be part of a scam, I would rather give BMW finance, Lombard etc. etc. the money than some individual, you know they are not in on any scam.
You simply pay the finance company and then settle up the difference.
I wouldn't buy a car privately over £10k now as the owner could have taken out a log book loan on it, which isn't recorded anywhere, so HPI is useless these days.
However, logbook loan companies won't loan against a car with finance on it already, so it actually makes it a much safer bet for the buyer.
The colour is personal, many still love white.
Gearbox won't be any more reliable than the auto, BMW have had far more issues with manual 'boxes over the last 10 years than their autos, everything from 2005-mid 2011 has had defective clutch and flywheel.
The only issue is price.
On autotrader there are cars with dealers in 'safer' colours and less miles for £22k.
That is your issue, nothing else.
gizlaroc said:
I would always prefer to buy a car on finance than give someone I don't know my hard earned.
If the car is on finance it can't be part of a scam, I would rather give BMW finance, Lombard etc. etc. the money than some individual, you know they are not in on any scam.
You simply pay the finance company and then settle up the difference.
I wouldn't buy a car privately over £10k now as the owner could have taken out a log book loan on it, which isn't recorded anywhere, so HPI is useless these days.
However, logbook loan companies won't loan against a car with finance on it already, so it actually makes it a much safer bet for the buyer.
The colour is personal, many still love white.
Really interesting post. With a log book loan the lender sends off the log book, I assume, so is the scam that they simply get a copy of the logbook from DVLA to fool the potential purchaser?
If that's true, couldn't a dealer also be scammed, the same way and then you're in the sh*t if you buy from that dealer?
Gearbox won't be any more reliable than the auto, BMW have had far more issues with manual 'boxes over the last 10 years than their autos, everything from 2005-mid 2011 has had defective clutch and flywheel.
The only issue is price.
On autotrader there are cars with dealers in 'safer' colours and less miles for £22k.
That is your issue, nothing else.
If the car is on finance it can't be part of a scam, I would rather give BMW finance, Lombard etc. etc. the money than some individual, you know they are not in on any scam.
You simply pay the finance company and then settle up the difference.
I wouldn't buy a car privately over £10k now as the owner could have taken out a log book loan on it, which isn't recorded anywhere, so HPI is useless these days.
However, logbook loan companies won't loan against a car with finance on it already, so it actually makes it a much safer bet for the buyer.
The colour is personal, many still love white.
Really interesting post. With a log book loan the lender sends off the log book, I assume, so is the scam that they simply get a copy of the logbook from DVLA to fool the potential purchaser?
If that's true, couldn't a dealer also be scammed, the same way and then you're in the sh*t if you buy from that dealer?
Gearbox won't be any more reliable than the auto, BMW have had far more issues with manual 'boxes over the last 10 years than their autos, everything from 2005-mid 2011 has had defective clutch and flywheel.
The only issue is price.
On autotrader there are cars with dealers in 'safer' colours and less miles for £22k.
That is your issue, nothing else.
Smuler said:
Really interesting post. With a log book loan the lender sends off the log book, I assume, so is the scam that they simply get a copy of the logbook from DVLA to fool the potential purchaser?
If that's true, couldn't a dealer also be scammed, the same way and then you're in the sh*t if you buy from that dealer?
You give the log book loan company one of your log books, you give the buyer the other one.
Yeah, and they are getting caught out, as our finance houses such as Lombard, it is a real issue that needs clamping down on.
These log book loan companies don't have to register their interest in the vehicle, so you never know till they come for the car.
However, if you have bought from a dealer that is your comeback, it is them up to the dealer to sort out. Obviously you may still have a fight on your hands, but a lot more come back than if you have bought from Mr. Smith in his house.
So any one who says that buying a car privately with finance on it is not thinking things through properly, it is now the best way to buy a car privately.
Gassing Station | BMW General | Top of Page | What's New | My Stuff