BMW models and values in 2019

[jimmy_wrxsti]

Morning,

Am looking to get some input in order to make an educated decision on current car.

I currently have a F80 M3 Competition Pack which I am 2yrs into a 3yr PCP. It is an amazing car, love it but never intended to keep it past 3yrs once warranty up.

Just bought a new house and the wife wants me to look at reducing payments on car to cover the extra mortgage amount on new house.

Got an early settlement figure from BMW and a p/ex value from them which shows I currently in month 24 have £6k equity. Private sale may get more but unsure on selling privately for the amount.

I am therefore looking at the following options:
1) See the full 3yr out and change down to something less expensive next Sept on a new PCP deal
2) Chop in early for brownie points and look to get PCP deal on new car (M140i is current fav for a £400 a month budget)

Option 1 makes sense as everything I read says in a PCP your depreciation slows in the 3rd year so in theory the equity should increase, also the F80 has stopped production so no new M3 cars on road until 2020. On the flip side however with uncertainty of car market and also the new M3 in 2020 could the equity be lost as values plummet?

Option 2 as well has pro's and cons. However I know that in 2019 there will be a new 1 series, the M140i having xDrive etc. Will that have a negative effect on the 1 series values or will they be seen as the last of 1 series RWD and therefore value holds better than expected.

Basically I am after a crystal ball, but any advice on what we can possibly expect over the next 12 months or people's opinions on what they would do out of the 2 options would help at this stage.

Thanks

[davamer23]

Sell for most you can get out of it, settle finance, buy and own outright a decent car for £6k.
Go on mortgage overpayment calculator and see how early you’ll pay off house with extra £400/month and how much in interest you’ll save and then decide.

[jimmy_wrxsti]

davamer23 said:

Sell for most you can get out of it, settle finance, buy and own outright a decent car for £6k.
Go on mortgage overpayment calculator and see how early you’ll pay off house with extra £400/month and how much in interest you’ll save and then decide.

Yes fully aware of the alternative options, but looking for input on the options outlined above, thanks for your input though.

[anonymous-user]

I’d get out of it now. Personally there’s too much uncertainty around the future for me at the moment to be confident that the arse isn’t going to drop out of the market in a year’s time. Might be wrong but all you can do is make a call based on what you think.

If you want to avoid a private sale it’s quite likely you can comfortably beat the trade-in price at WBAC, Evans Halshaw’s car buying service or Tootle so I’d get some numbers from them and see how things stack up.

[Dinoboy]

I'd be with option 1 but looking at selling it privately(start advertising end of July) to maximise the equity then use the balance to buy something on HP rather than PCP.

If you could get it up to £10k of equity you'd have a useful deposit there. Personal loan rates are very low at the moment, you could borrow £19k for £420 over 4 years and the car is yours at the end of the term!

I'd also use my wife's car for commuting one or two days a week to keep the mileage a bit lower, also increasing the chance of more equity.

With your 29k you could have this, pre reg delivery miles:



http://www.autotrader.co.uk/classified/advert/2018...

Download the app to find your perfect car.
https://play.google.com/store/apps/details?id=uk.c...

Edited by Dinoboy on Sunday 21st October 11:28