Secondhand car price crash?

[SFTWend]

Casa1862 said:

Problem with the 8 series is the extended warranty costs, I checked as I was interested in a 840i...£2500 per year(or about that), just not worth it and BMW must know how expensive they are to repair.

Gosh, especially as the Lexus one is free for 10 years.

The only benefit I think the beemer has over the LC500 is that it's much more likely to still be on the drive in the morning.

[DonkeyApple]

Casa1862 said:

Problem with the 8 series is the extended warranty costs, I checked as I was interested in a 840i...£2639 per year(or about that), just not worth it and BMW must know how expensive they are to repair.

bmw-warranty.co.uk for prices

Edited by Casa1862 on Tuesday 21st November 15:32

There was a poster on here a little while back who seemed to have a projected set of costs, warranty, insurance, servicing that appeared to be getting towards £10k for first year out of initial warranty, plus a bath on value.

[va1o]

DonkeyApple said:

There was a poster on here a little while back who seemed to have a projected set of costs, warranty, insurance, servicing that appeared to be getting towards £10k for first year out of initial warranty, plus a bath on value.

That could’ve been me, it was the main reason I traded in my first 8 series shortly after it turned 3 and bought a new one. Avoiding all those running costs helped the man maths

[Saweep]

va1o said:

DonkeyApple said:

There was a poster on here a little while back who seemed to have a projected set of costs, warranty, insurance, servicing that appeared to be getting towards £10k for first year out of initial warranty, plus a bath on value.

That could’ve been me, it was the main reason I traded in my first 8 series shortly after it turned 3 and bought a new one. Avoiding all those running costs helped the man maths

A colleague of mine bought a brand new one in January for 80k ish. Didn't haggle a penny of the most haggle-able car ever made.

I keep sending him WBAC screenshots for lols.

[DonkeyApple]

va1o said:

DonkeyApple said:

There was a poster on here a little while back who seemed to have a projected set of costs, warranty, insurance, servicing that appeared to be getting towards £10k for first year out of initial warranty, plus a bath on value.

That could’ve been me, it was the main reason I traded in my first 8 series shortly after it turned 3 and bought a new one. Avoiding all those running costs helped the man maths

[carparkno1]

Saweep said:

va1o said:

DonkeyApple said:

There was a poster on here a little while back who seemed to have a projected set of costs, warranty, insurance, servicing that appeared to be getting towards £10k for first year out of initial warranty, plus a bath on value.

That could’ve been me, it was the main reason I traded in my first 8 series shortly after it turned 3 and bought a new one. Avoiding all those running costs helped the man maths

A colleague of mine bought a brand new one in January for 80k ish. Didn't haggle a penny of the most haggle-able car ever made.

I keep sending him WBAC screenshots for lols.

That’s what true friends do lol

[Deep Thought]

Saweep said:

A colleague of mine bought a brand new one in January for 80k ish. Didn't haggle a penny of the most haggle-able car ever made.

I keep sending him WBAC screenshots for lols.

Theres literally £20,000 in discount being offered off those. And thats before you start negotiating.

[Dingle Dell]

andy43 said:

AlexNJ89 said:

Dingle Dell said:

I really feel like it ticks all the boxes for me, and all ownership comments I see are positive, so right now it's hard to think of why I wouldn't buy one. That being said, i'm in no rush, and my fixed term investments become free next March, which should be good timing. I had decided it would have to be a 21 or later as the revisions seemed to be very positive, and I agree the silver does the car no favours. I actually like the car in white (unusual for me), and the red looks good too. I dropped by my local Lexus dealer and the reception I got was top notch. Not pushy but happy to spend time and chat about the cars.

Edited by Dingle Dell on Monday 20th November 20:26

Have you driven one?

I test drove one and it was excellent, the perfect size and power. Rear wheel steer made it feel nimble and high quality interior. Only downside was the boot space.

Mines a red ‘21 convertible - no RWS and a smaller boot than the coupe but there’s always the back ‘seats’, and it’s still bigger than the boot on the Maserati it replaced. By March I reckon 70k or less would get you a convertible - there’s two or three at 75 now, or a 21-on coupe could be mid 60s by then.
Alternatively by Spring you’ll be able to pick up a nice M850i for 27 pence…

I haven't driven one yet, but I can't imagine a reality where I won't like it. The one thing I miss about my old Vantage is the sound, and the LC500 will sound every bit as good if not better. Boot space should be enough for the type of trips i'll be making.

I have never been into convertibles myself (though yours looks nice in the red), so would be getting the coupe, so will see where prices of 21 and later cars go. I did consider buying new, but not sure I can justify the initial loss, and when you have the 10-year warranty, there seems little to be concerned about picking up a two or three year old car.

[stevemcs]

Casa1862 said:

Problem with the 8 series is the extended warranty costs, I checked as I was interested in a 840i...£2639 per year(or about that), just not worth it and BMW must know how expensive they are to repair.

bmw-warranty.co.uk for prices

Edited by Casa1862 on Tuesday 21st November 15:32

I’ve just checked on a 520d 2017 and that’s just short of 2k so that makes the 840i seem cheap

[Saweep]

Deep Thought said:

Saweep said:

A colleague of mine bought a brand new one in January for 80k ish. Didn't haggle a penny of the most haggle-able car ever made.

I keep sending him WBAC screenshots for lols.

Theres literally £20,000 in discount being offered off those. And thats before you start negotiating.

He's financially illiterate combined with a shallow ego (would hate to think the salesman thinks he can't afford any number).

He's fun.

[anonymous-user]

Saweep said:

He's financially illiterate combined with a shallow ego (would hate to think the salesman thinks he can't afford any number).

He's fun.

But he's quite happy thinking that the salesman is pissing himself laughing at him for being such a mug and the great bonus he will get that month?

Bit like my friend who bought a BTL with his dad. His dad refused to even haggle on the price as it "wasn't professional"

Years ago I went to look at a Seat Leon at a local dealer to see if they could match the £5K under list I had been quoted on CarWow. When I showed the salesman the quote he initially tried to convince me it was fake and then said "We have a relationship now, isn't that worth something?"

Erm no, I am never going to see you again so couldn't care less about this "relationship" we have, especially not for £5K.

[gotoPzero]

[Casa1862]

stevemcs said:

I’ve just checked on a 520d 2017 and that’s just short of 2k so that makes the 840i seem cheap

Yep, then they’ve got the cheek to charge £100 excess, it’s a joke, I really liked them but I’m not paying £2.6k pa for a warranty or risk a £40k car without one!

[e-honda]

Casa1862 said:

stevemcs said:

I’ve just checked on a 520d 2017 and that’s just short of 2k so that makes the 840i seem cheap

Yep, then they’ve got the cheek to charge £100 excess, it’s a joke, I really liked them but I’m not paying £2.6k pa for a warranty or risk a £40k car without one!

Yeah it's basically a racket scheme.
You are buying new or approved used a high end car you can reasonably expect premium reliability, protected in law, then they shake you down for another £2k+ a year to stop them from fking you over.

[JaredVannett]

AlexNJ89 said:

the LC500 is a very PH car, in that it's the best buy out of its competitors yet the average joe doesn't even know it exists.

Ditto!

The "new" 8 series is a lazy "effort" on the exterior and I find them unclassy. As DA mentioned the shiny crystal knob pulled straight off a butt plug.

[AlexNJ89]

JaredVannett said:

Ditto!

The "new" 8 series is a lazy "effort" on the exterior and I find them unclassy. As DA mentioned the shiny crystal knob pulled straight off a butt plug.

I'm also a bit of a sucker for a car built from the ground-up as it's so rare these days. I don't like the idea that an 8 series is build on a 7 series chassis with some suspension tweaks and the interior is from a 5 series etc etc.

[What The Deuces]

To the posters confidently stating we’re at pre Covid used prices.

Are we?

[macron]

Not sure anyone is saying that are they?

Depreciation levels maybe, actual prices no, haven't read that here??

[NRG1976]

What The Deuces said:

To the posters confidently stating we’re at pre Covid used prices.

Are we?

Is it indexing the same cohort of cars from t0 or used prices generally? If the former that’s interesting, I suspect it’s the latter which doesn’t take into account the higher cost of cars a point of sale.

[Fusion777]

I've not seen anyone suggest we're remotely near pre-Covid used prices.