Just Spent An Afternoon With A Car Dealer (BMW)...and...

[Mat Hammond]

.....he was telling me how tough it is out there, but they are just killing it on px's at the mo.

30,000 mile Gallardo £55,000 was one story.... eeeek!
He was running a RS6 that they got for £16,000 on a px, 54 reg, 30k mile saloon, very good car.
They are not allowed to px on Chrysler....
I know he is a BMW man but he said Audi are really finding it tough (due to emmissions)...
M3's are brilliant value...
They are offering about £5k below book prices on all px's and people are taking it....

Regards
Mat

[ab@]

But having to knock more than that off new?

[MitchT]

Mat Hammond said:

M3's are brilliant value...

Which ones? E92s will be good value when they hit the low 40s and high 30s. E46s look like good value except I'd be too scared of the big end bearings failing to risk buying one.

[simba1]

Quite a few new shape M3 in the low £40k. http://www.pistonheads.com/sales/664518.htm

[RetroWheels]

Mat Hammond said:

.....he was telling me how tough it is out there, but they are just killing it on px's at the mo.

They are not allowed to px on Chrysler....

Did he say why, are they that bad ?

[berry100]

I just took a hit on a Porsche cayenne 56 plate v6 with most of the toys 30k miles, got £20k but managed to get my June 07 registered 335i coupe se, with 25k miles for £20k which seemed good value. Needed the private sale on the cayenne cos the dealers weren't interested at all.

[MitchT]

simba1 said:

Quite a few new shape M3 in the low £40k. http://www.pistonheads.com/sales/664518.htm

I think I saw that one when I was browsing a few days ago. Shame about the incredibly bland interior colour scheme!

[jamiebae]

RetroWheels said:

Mat Hammond said:

.....he was telling me how tough it is out there, but they are just killing it on px's at the mo.

They are not allowed to px on Chrysler....

Did he say why, are they that bad ?

They're pretty hard to sell at the best of times, especially with the fact most are high emission models but there are also rumours that Chrysler Corp is in serious financial difficulty and running out of cash in the USA and if they end up in chapter 11 then it'll hit resale values harder still.

That, and they're almost without exception hateful cars and badly built from low quality materials.

[bromers2]

http://www.pistonheads.com/sales/675099.htm

or this E92 M3 for £33k !!

[Lukey223]

The most important factor is usually 'the bit in the middle' for most people ie. difference between p/x and new car.

Did he say that they are having to discount new cars quite heavily in order to make deals happen? or are people just accepting the hit on their p/x?

[RetroWheels]

Gazboy said:

MitchT said:

simba1 said:

Quite a few new shape M3 in the low £40k. http://www.pistonheads.com/sales/664518.htm

I think I saw that one when I was browsing a few days ago. Shame about the incredibly bland interior colour scheme!

Christ that is blody awful.

Agreed , any driving enthusiasm would be sapped the minute you sat in there .

[TeaVR]

RetroWheels said:

Gazboy said:

MitchT said:

simba1 said:

Quite a few new shape M3 in the low £40k. http://www.pistonheads.com/sales/664518.htm

I think I saw that one when I was browsing a few days ago. Shame about the incredibly bland interior colour scheme!

Christ that is blody awful.

Agreed , any driving enthusiasm would be sapped the minute you sat in there .

Can't be long until M3s are sub £30K!

[off_again]

RetroWheels said:

Mat Hammond said:

.....he was telling me how tough it is out there, but they are just killing it on px's at the mo.

They are not allowed to px on Chrysler....

Did he say why, are they that bad ?

Actually not, given they don't cost a lot to buy in the first place. However, there are major rumours going around in the USA that Cerberus (the company who bought them from Daimler Benz / Mercedes). They suggest that they will cut their losses and slice up the company and sell on what they can - effectively destroying the brand in the process.

Now, if that happens or not is irrelevant. What is important is that there are rumours and this can seriously kill the second hand values of a car. The last thing that a BMW dealer wants to do is get lumbered with a car that tumbles buy the minute in value. Prudent self-defence for a business.

[Jasandjules]

By any chance, were you discussing a part ex you were considering with them?

[Donut]

Having just been bid £14,000 off book for a TDV8 Range Rover, I'd say it is going to get interesting!

Being bid half book for Bentleys is not uncommon either

[Deva Link]

berry100 said:

I just took a hit on a Porsche cayenne 56 plate v6 with most of the toys 30k miles, got £20k but managed to get my June 07 registered 335i coupe se, with 25k miles for £20k which seemed good value. Needed the private sale on the cayenne cos the dealers weren't interested at all.

The Cayenne pricing is horrible, but understandable. The Beemer price seems amazing, though - is it just the mileage on a 1yr old car that killed it?

[Whitney-Paine]

Friend who is a buyer for a main dealer, bought a one year old Audi A8 with 20K or so miles for £37K last month.

List price when bought new - £91K.

Edited by Whitney-Paine on Monday 25th August 11:02

[dfen5]

What amazes me about the pricing at the moment is how people are holding out for silly money on old 4x4s. There ar so many Mitsubishi L200s & Navaras around at the moment it's incredible but they're still up for £6-7K plus VAT for 2001 models with 60-70000 miles. I know the L200s give 20-23 MPG so not cheap to run and I suspect they'll be in the >2001 high tax band when introduced. Bizarre.

[zagato]

Over the next year I'm sure things will only get worse / better, depending on whether your buying or selling! Luckily I'll be buying

[mat205125]

zagato said:

Over the next year I'm sure things will only get worse / better, depending on whether your buying or selling! Luckily I'll be buying

Me too. Can't wait.