F10 M5 values - too low to sell?
Discussion
I've owned my M5 for a few months but circumstances mean I'm minded to sell and get my kicks from my bike when I need them and buy something more vintage/normal for when needed. Asking around I'm getting best offers of around 22.5k for a 2013 pre facelift with 39k and full BMW warranty until Feb 19. Private M5 plate as well. Seems way too cheap to me having paid near 28k earlier this year at BMW (at the time I thought a good deal!!). It's a standard car, no sexy options but VGC. I'll probably hold onto it for a while longer if this is all I can get but seems a wee bit too low given the performance, warranty and mileage. Thoughts on where the market will be by the end of the year?! 15k for a good example?!
The market is very tricky...and BMW dealers too. Seen cars "over valued" on the market for months and they didn't reduce the price at all.
I've been looking at prices on BMW website and autotrader trader since January 2018.
Initially had a budget of £30k, but prices were so different for similar speced cars. It was just a matter of finding the right car at the price I want to pay. Lost out on a few cars, because we couldn't agree on a deal (one of them was for a year's road tax).
It does look like pre facelift cars are now all under £30k and to be able to get a "decent" speced car (age and mileage), you need to spend around £33/34k.
Anyway, I ended up blowing my budget and spent £35k on an M6 Gran Coupe.
I've been looking at prices on BMW website and autotrader trader since January 2018.
Initially had a budget of £30k, but prices were so different for similar speced cars. It was just a matter of finding the right car at the price I want to pay. Lost out on a few cars, because we couldn't agree on a deal (one of them was for a year's road tax).
It does look like pre facelift cars are now all under £30k and to be able to get a "decent" speced car (age and mileage), you need to spend around £33/34k.
Anyway, I ended up blowing my budget and spent £35k on an M6 Gran Coupe.
vkcs22 said:
The market is very tricky...and BMW dealers too. Seen cars "over valued" on the market for months and they didn't reduce the price at all.
I've been looking at prices on BMW website and autotrader trader since January 2018.
Initially had a budget of £30k, but prices were so different for similar speced cars. It was just a matter of finding the right car at the price I want to pay. Lost out on a few cars, because we couldn't agree on a deal (one of them was for a year's road tax).
It does look like pre facelift cars are now all under £30k and to be able to get a "decent" speced car (age and mileage), you need to spend around £33/34k.
Anyway, I ended up blowing my budget and spent £35k on an M6 Gran Coupe.
how on earth did you get a m6gc for 35k!!!I've been looking at prices on BMW website and autotrader trader since January 2018.
Initially had a budget of £30k, but prices were so different for similar speced cars. It was just a matter of finding the right car at the price I want to pay. Lost out on a few cars, because we couldn't agree on a deal (one of them was for a year's road tax).
It does look like pre facelift cars are now all under £30k and to be able to get a "decent" speced car (age and mileage), you need to spend around £33/34k.
Anyway, I ended up blowing my budget and spent £35k on an M6 Gran Coupe.
I’ve been watching and talking about them for a long time Wills2 will verify that.
But 6-9months ago there was about 4 cars for sale sub £30k and nothing below £25k. Now well there are loads and frankly they are not selling - private sellers more than traders I’d say.
Maybe the new M5 or the new E63 S has helped loads of owners want to sell on and buy the next thing.
Also years ago they came out on incredibly cheap lease deals so now luckily for used buyers it means low prices.
E60 M5’s are this getting harder and harder to sell and will drop to the £5-6k territory just like the E39 did before it.
Fuel prices too are hitting big guzzlers like these - now best part of £1.50/ltr of the proper fuel it’s a pricy thing to run.
But 6-9months ago there was about 4 cars for sale sub £30k and nothing below £25k. Now well there are loads and frankly they are not selling - private sellers more than traders I’d say.
Maybe the new M5 or the new E63 S has helped loads of owners want to sell on and buy the next thing.
Also years ago they came out on incredibly cheap lease deals so now luckily for used buyers it means low prices.
E60 M5’s are this getting harder and harder to sell and will drop to the £5-6k territory just like the E39 did before it.
Fuel prices too are hitting big guzzlers like these - now best part of £1.50/ltr of the proper fuel it’s a pricy thing to run.
rassi said:
Welshbeef said:
E60 M5’s are this getting harder and harder to sell and will drop to the £5-6k territory just like the E39 did before it.
It might be that the dogs are being scrapped so the remaining which were always priced a bit higher still exist.
These are mass produced cars they will highly unlikely increase in value and given the classic car marks is so toppy it might be at its nirvana already. Anyway you buy a car to drive and run not an investment so it’s neither here or there
tjlazer said:
I've owned my M5 for a few months but circumstances mean I'm minded to sell and get my kicks from my bike when I need them and buy something more vintage/normal for when needed. Asking around I'm getting best offers of around 22.5k for a 2013 pre facelift with 39k and full BMW warranty until Feb 19. Private M5 plate as well. Seems way too cheap to me having paid near 28k earlier this year at BMW (at the time I thought a good deal!!). It's a standard car, no sexy options but VGC. I'll probably hold onto it for a while longer if this is all I can get but seems a wee bit too low given the performance, warranty and mileage. Thoughts on where the market will be by the end of the year?! 15k for a good example?!
Just with the natural fall in prices, your £27.75K car is probably a £26.5K car now. Most dealers would want a £4K margin on a car like that.vkcs22 said:
Well, you have to be looking at the bmw website every hour on a daily basis....
and be quick.
There is a black one at £35k at the moment but mileage is a bit high at 60k
Exactly and bid them a price even if you hate the spec a low ball offs is an offer it might be accepted. and be quick.
There is a black one at £35k at the moment but mileage is a bit high at 60k
It’s a buyers market
Welshbeef said:
vkcs22 said:
Well, you have to be looking at the bmw website every hour on a daily basis....
and be quick.
There is a black one at £35k at the moment but mileage is a bit high at 60k
Exactly and bid them a price even if you hate the spec a low ball offs is an offer it might be accepted. and be quick.
There is a black one at £35k at the moment but mileage is a bit high at 60k
It’s a buyers market
And i dont think it IS a buyers market for an M6GC at around the £35K mark.
Even with over 100 M5s and M6 on the market, it wasn’t really a “buyers” market for me as I had some specific criterias/options in mind (one owner car,good warranty and service history,20inch wheels,soft close doors,HK stereo,any colour apart from blue).
In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
vkcs22 said:
Even with over 100 M5s and M6 on the market, it wasn’t really a “buyers” market for me as I had some specific criterias/options in mind (one owner car,good warranty and service history,20inch wheels,soft close doors,HK stereo,any colour apart from blue).
In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
Yes, talking specifically about M6GC its hard to pitch at it being a buyers market when theres only 8 AUC across the whole of the UK at below even £45,000 and only one below £40K. Doesnt sound like a buyers market to me.In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
With regards to your M5 pricing. I had similar when i was looking at a 335d that a dealer had on for the time at ££28,995 i had an absolute budget limit of £27,000 and got them down to £28,000. Not a mission they would move from that. Salesman spoke to sales mgr, etc, etc no £28K was them on the floor. No more movement. So i went and bought a 535d M Sport the following week from another main dealer. A month after that i saw the car online price dropped to £26K!
It does seem they have a minimum price they will take when a car is within a certain timeframe on the forecourt. Once that time expires they then seem happy to drop or take a loss or whatever, but up to that day they wont. Seems quite a binary way of thinking but i guess there is proven business logic behind it.
Deep Thought said:
vkcs22 said:
Even with over 100 M5s and M6 on the market, it wasn’t really a “buyers” market for me as I had some specific criterias/options in mind (one owner car,good warranty and service history,20inch wheels,soft close doors,HK stereo,any colour apart from blue).
In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
Yes, talking specifically about M6GC its hard to pitch at it being a buyers market when theres only 8 AUC across the whole of the UK at below even £45,000 and only one below £40K. Doesnt sound like a buyers market to me.In the end, I had to compromise.
I would normally negotiate and never pay asking price, and there is an M5 which matched ALL my criterias but the dealer didn’t want to give me a years road tax although I agreed to pay asking price (£34k). So I walked out (but I did went back to them and ask them to reconsider...they didn’t want to move).
Fast forward a week or two (after I placed a deposit on an M6), I see that they have now reduced the price to £33,490!!!...so basically they lost a buyer who was willing to pay £34k!...
M5 was cheaper, well priced based on autotrader valuation, matched ALL my criterias but out of principle (maybe idiocy) I chose the M6 which was at a higher price, older car, slightly higher mileage and did not match all my criterias.
Sometimes you have to stick to your principles.
With regards to your M5 pricing. I had similar when i was looking at a 335d that a dealer had on for the time at ££28,995 i had an absolute budget limit of £27,000 and got them down to £28,000. Not a mission they would move from that. Salesman spoke to sales mgr, etc, etc no £28K was them on the floor. No more movement. So i went and bought a 535d M Sport the following week from another main dealer. A month after that i saw the car online price dropped to £26K!
It does seem they have a minimum price they will take when a car is within a certain timeframe on the forecourt. Once that time expires they then seem happy to drop or take a loss or whatever, but up to that day they wont. Seems quite a binary way of thinking but i guess there is proven business logic behind it.
Schermerhorn said:
They'll either cover the 'loss' on another car assuming they haven't already. These main dealers run to a budget the accounts department is always in overdrive working out things.
Yes, some dealers have a "writing down pot" that all car sales would contribute to, then when they have to write something down in price - say at 90 days, then they use some of that buffer.Gassing Station | M Power | Top of Page | What's New | My Stuff