Trading in F10 M5

[MattStorey]

Bit of a ranty post. I knew that M5's were a slight risk upon purchase due to being quite unique.

Short story - looking at trading the M5 in to release some equity as in the market to purchase some new property, get married, and thinking about a track day car.

Took my F10 M5 in for valuation yesterday - purchased 2nd hand from a dealership. Apparently in less than six months it has dropped in value by 10k.

Admittedly it needs four new tyres (approx 1k in tyres) and is on 16k miles.

Obviously they will need to replace tyres, promote sale, pay sales people, make some profit etc. I accept that as i am dubious about selling it privately due to test pilots, tyre kickers, and time wasters. Should it have dropped by this much or are they pulling my leg as i am looking for a quick-ish sell?

For those that are interested - thinking about a second hand 520D touring.

Thanks, Matt

[MattStorey]

March 2012. Has a service pack until 2017.

Slightly annoyed. Need to consider next steps.

They are offering around the 40k mark. Looking on bmw approved it appears that it would sit on the forecourt for about 45k mark - give or take a couple of 1000.

http://www.approved.bmw.co.uk/bmwuk/bmwauc/results...

Was hoping that they might do a bit of a deal as i would be trading it in and taking something else off their hands. I think they are pulling my leg as i am looking at a quick-ish sell.

Based on that i am considering not bothering with them.

Edited by MattStorey on Friday 18th July 10:53

[MattStorey]

Shaoxter said:

Taking into account depreciation on a new-ish expensive car and dealer margin, that's pretty much expected.

I guess you knew that when you bought the car, not really sure what else you're expecting. I doubt many people have £40-50k in cash if you're thinking of selling privately unfortunately.

Probably not for it to drop by that significant amount! Just rather painful to be honest with you.

I have no idea how people buy a new car every couple of years - i guess that is the argument for leasing.

[MattStorey]

ManiacGT said:

In any event a loss is only a loss if you sell it. Perhaps consider keeping it. If you are looking to change it because of a lifestyle change then perhaps the loss in the sale is offset by the cost associated with the lifestyle change and its cheaper or the same to keep it.

I know I wouldn't be unhappy with an F10 M5. I'd keep it forever and buy a cheap daily.

I love it - and in no way unhappy with it beyond normal running costs (being attached to a petrol pump continuously).

I just need to release some capital to allow me to proceed with my plans. I might have to write the loss off as you say and offset it with the lifestyle change. It is just disappointing that the depreciation in the space of six months is so much!!

In the process of looking at a track day car for legal hi-jinks.

M

[MattStorey]

As the OP - I guess to some extent i did not appreciate the depreciation curve of six months as much as i should of.

Six months ago i also did not think i would be potentially trading it in. I had plans to be in the car for one years minimum whereby the curve was more agreeable.

Re-running the figures I may be keeping it - but it is hard to ignore the savings i would make.

M

Edited by MattStorey on Monday 21st July 10:15