Struggling to sell my M135i

[gizlaroc]

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?

Call the DVLA and tell them you have never received a log book, a few days later you have a new one.
You give the log book loan company one of your log books, you give the buyer the other one.


Yeah dealers 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 a good idea, are really not thinking things through properly, it is now the best way to buy a car privately.

[gaz1234]

Smuler said:

Mighty be worth trying WBAC again, Stan. I understand their prices vary. Certainly, their final figure had increased from when my old man did the first online quote.

Just got offered 75 quid!

[Silent1]

gizlaroc said:

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?

Call the DVLA and tell them you have never received a log book, a few days later you have a new one.
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.

IIRC in that situation couldn't you claim good title?

[Helicopter123]

£267 per month on gateway2lease for a new car, why drop £23k on a used example?

[gizlaroc]

Silent1 said:

IIRC in that situation couldn't you claim good title?

In what situation? Logbook loan?

No, there is nothing you can do as the loan company own the car.



http://www.adviceguide.org.uk/england/consumer_e/c...

[Soov535]

Helicopter123 said:

£267 per month on gateway2lease for a new car, why drop £23k on a used example?

And that's the rub.

Have a brand new one and run it for two years for £6k for a modest deposit.........

[nickfrog]

Soov535 said:

Helicopter123 said:

£267 per month on gateway2lease for a new car, why drop £23k on a used example?

And that's the rub.

Have a brand new one and run it for two years for £6k for a modest deposit.........

Except it's £387 when you include VAT and deposit. £9,300 over 2 years with only 8k miles / year.

I agree that it's still an issue though for many and that at £23k it's overpriced.

Closer to £20k and the 24 month depreciation is likely to be quite a lot less than that... I hope !!!

Edited by nickfrog on Wednesday 3rd September 17:35

[Welshbeef]

Helicopter123 said:

£267 per month on gateway2lease for a new car, why drop £23k on a used example?

Because

1. It will lose less over 2 years than that loan offer
2. Hardly anyone buys if for cash - its financed so an ongoing servicing of debt but unless you are totally debt free then you are financing it one way or another
3. What relevance does this have to the poor chap trying to sell his P&J?

[burwoodman]

The OP asks for advice and is told by everyone that the advert is bad. It remains unchanged to date-i cringed when reading it.

[jakesmith]

Advert makes it look like the seller wd be awkward
Car is poor spec and overpriced
£20k more like compared to what else is out there
Probably dropping £400 a month from there too
There's enough buyers in te market for a correctly priced car to sell

[Vroomer]

Reasons for not selling already given:

no satnav
white
manual
overpriced
outstanding finance

but also...

pics taken in strange places – buyers want to see car parked outside seller's house.

[nickfrog]

The spec is superb as std. The fact that it is not loaded with useless gadgets that depreciate instantly means that it would have retained more in both % terms and £ when priced properly.

[Stan 24v]

Been a bit busy, so only just seen these. Thanks for the replies, well most of them.

I have come to the conclusion it is purely down to money - the price and the deals on new M135i's. The spec is great as standard (as someone mentioned) and the fact its manual will attract people who like to 'drive'. Nav would have added an extra £1500 at order, and the car wouldn't be worth an extra £1500 now, but it could be more saleable, who knows?

With reference to the photo's, I agree with the price sticker etc so its been removed.

The reference to the oil was purely to highlight that its had 2 litres, nothing else. Some M135i's use more oil, some less, but its been removed.

The reference to the Armed Forces was to highlight I live in two places, and I am reliable with a respectful profession. I don't see how this poses a problem, but its been removed.

It has had two new front tyres, but the rears still have plenty of life in them for now. I was going to replace them but if I don't sell then I'll replace them before the bad weather sets in.

I have dropped the price with a view to someone offering me a near offer, hopefully it will entice more potential buyers.

Cheers
Stan

[Stan 24v]

Oh and it was on Autotrader a month or so back; the ad expired and I haven't renewed as of yet.

[c3m]

Stan 24v said:

Nav would have added an extra £1500 at order, and the car wouldn't be worth an extra £1500 now, but it could be more saleable, who knows?

Just wanted to say that for people like me, not having Satnav is a total no-go and I just completely ignore cars without it - the rest of the spec doesn't really matter at all, I just wouldn't consider such cars. If you had Satnav, you'd attract both buyers who require it and those who don't thus increasing your chances of selling. Having said that, some of friends don't really care about Satnav at all, so maybe you just have to wait until someone like that comes along.

Good luck with the sale

[tjlees]

No satnav would not worry me, providing your music can be selected and played from on screen and phone can be used handsfree.

I tend to use a portable satnav because the map updates are usually lifetime free and with the tomtom you get really good realtime traffic alerts, speed camera alerts including giving the average, access to tripadvisor for quickly choosing a good watering hole and a internet like search facility. Additionally I can put all my favorite places on and take it from car to car without having to reprogramme or relearn each time.

I use to only buy cars with satnav, but now OEMs are usually much better unless you spend upwards of £2k on the professional satnav.

To the OP, IMHO the car looks fine, the pictures maybe a bit dodgey but easily resolved, the existing finance is a plus point but as usual the price needs to be right.

[gizlaroc]

You have reduced the price..

http://www.pistonheads.com/classifieds/used-cars/b...

But not enough, BMW main dealer at the same price as yours, 6 months older on a 62 plate, but reckon you need to be at £21500 to get peoples attention.....



http://www.autotrader.co.uk/classified/advert/2014...

[Soov535]

gizlaroc said:

You have reduced the price..

http://www.pistonheads.com/classifieds/used-cars/b...

But not enough, BMW main dealer at the same price as yours, 6 months older on a 62 plate, but reckon you need to be at £21500 to get peoples attention.....



http://www.autotrader.co.uk/classified/advert/2014...

Grim though it is, this.

Your car privately with no nav, or the BMW AUC with nav for the same price??

[Stan 24v]

Six months older, 5 door and same spec, it doesn't have nav either.

I've already had a couple of enquiries since I stored the price, so its looking more promising. If it doesn't sell I'll just keep it til sorting and enjoy it some more.

[Stan 24v]

In fact it's lesser spec s it doesn't have black panel or adaptive.