Thinking aloud... M140
Discussion
Soo I have an M140 on PCP from BMW, I bought it when it was 10months old.
Current settlement figure is £13k ish with 8 months to go.
GFV at the end is about £12k.
I just did a WBAC and they have offered £20,750 for it.
I really like the M140 and would likely have paid the finance at the end and kept it, at least for another year or 2.
This WBAC valuation has made me think would it make sense to pay off the finance, sell it to them now, and re-buy in 12months when car values have returned to normal ?
Is that just daft ?
Oh we also have a C1 that does about 3 miles a week, so can use that
Current settlement figure is £13k ish with 8 months to go.
GFV at the end is about £12k.
I just did a WBAC and they have offered £20,750 for it.
I really like the M140 and would likely have paid the finance at the end and kept it, at least for another year or 2.
This WBAC valuation has made me think would it make sense to pay off the finance, sell it to them now, and re-buy in 12months when car values have returned to normal ?
Is that just daft ?
Oh we also have a C1 that does about 3 miles a week, so can use that
If you still like the car why subject yourself to the hassle - while markets may correct slightly you've then got the hassle of selling, buying something now and then buying again in a year's time. You may then end up buying something you don't know the history of and be subjected to trade sale prices, retail purchase prices - negating the potential benefit.
If you like the car I'd just keep with it tbh
If you like the car I'd just keep with it tbh
Went through this recently (we have M140 and a 107 
) but I concluded that there was nothing out there I fancied to replace the M140, coupled with the fact I'd bought new and so finding another one in the future with the same options may prove difficult, especially as the model has now been replaced.
£7/8k is a sizeable chunk of cash though and maybe I am just a sentimental idiot!
Chris
) but I concluded that there was nothing out there I fancied to replace the M140, coupled with the fact I'd bought new and so finding another one in the future with the same options may prove difficult, especially as the model has now been replaced.£7/8k is a sizeable chunk of cash though and maybe I am just a sentimental idiot!
Chris
nikaiyo2 said:
Soo I have an M140 on PCP from BMW, I bought it when it was 10months old.
Current settlement figure is £13k ish with 8 months to go.
GFV at the end is about £12k.
I just did a WBAC and they have offered £20,750 for it.
I really like the M140 and would likely have paid the finance at the end and kept it, at least for another year or 2.
This WBAC valuation has made me think would it make sense to pay off the finance, sell it to them now, and re-buy in 12months when car values have returned to normal ?
Is that just daft ?
Oh we also have a C1 that does about 3 miles a week, so can use that
So it's £13k to settle (?) now and get ownership of a car that's worth £20kCurrent settlement figure is £13k ish with 8 months to go.
GFV at the end is about £12k.
I just did a WBAC and they have offered £20,750 for it.
I really like the M140 and would likely have paid the finance at the end and kept it, at least for another year or 2.
This WBAC valuation has made me think would it make sense to pay off the finance, sell it to them now, and re-buy in 12months when car values have returned to normal ?
Is that just daft ?
Oh we also have a C1 that does about 3 miles a week, so can use that
Or, you pay 8 more months of lease (guess of £300, that would be £2.4k) and then a final payment of £12k to get ownership of a car that will probably still be close to £20k in 8 months time
They're not too different, so I guess it's about whether you try and cash in on the unexpected equity your lease has given you (the £7k difference between market value and estimated final value in the lease) and give up the use of the car.
Other items are I suppose how much wbac will try and knock you down vs. lease company trying to do the same.
You're assuming the market is going to correct itself in 12 months, it might not and even if it does, it might not come back down to where we were 18 months ago.
If you sell it with a view to buy another one in a years time you might struggle to find one you like spec wise etc. If you know yours has been looked after etc, it might be better to keep it than risk selling now only to either not find one in the spec you want or one that happens to be a moneypit.
If you sell it with a view to buy another one in a years time you might struggle to find one you like spec wise etc. If you know yours has been looked after etc, it might be better to keep it than risk selling now only to either not find one in the spec you want or one that happens to be a moneypit.
I think if you are selling with a view to buying the same car in 12 months time don't bother.
If you are feeling it's time for a change then it's a no brainer but it sounds like that isn't the case.
I was considering doing the same with my 240i as I could currently get out of it in profit if I wanted to but having looked around there's nothing else I want for the money so i'm staying put.
If you are feeling it's time for a change then it's a no brainer but it sounds like that isn't the case.
I was considering doing the same with my 240i as I could currently get out of it in profit if I wanted to but having looked around there's nothing else I want for the money so i'm staying put.
ScoobyChris said:
Went through this recently (we have M140 and a 107 ) but I concluded that there was nothing out there I fancied to replace the M140,
Chris
Hahah lol wise combo ) but I concluded that there was nothing out there I fancied to replace the M140, Chris
I just cant see much, that floats my boat the other hot hatches were discounted when I got the M140 for various reasons. the ones launched since dont do much for me I do quite fancy a 240 convertible for the 3 or 4 days a year when it would be nice :P Ian Geary said:
So it's £13k to settle (?) now and get ownership of a car that's worth £20k
Or, you pay 8 more months of lease (guess of £300, that would be £2.4k) and then a final payment of £12k to get ownership of a car that will probably still be close to £20k in 8 months time
They're not too different, so I guess it's about whether you try and cash in on the unexpected equity your lease has given you (the £7k difference between market value and estimated final value in the lease) and give up the use of the car.
Other items are I suppose how much wbac will try and knock you down vs. lease company trying to do the same.
You make a valid point actually, it makes sense to pay off the finance now doesn't it, going to save a few hundred Or, you pay 8 more months of lease (guess of £300, that would be £2.4k) and then a final payment of £12k to get ownership of a car that will probably still be close to £20k in 8 months time
They're not too different, so I guess it's about whether you try and cash in on the unexpected equity your lease has given you (the £7k difference between market value and estimated final value in the lease) and give up the use of the car.
Other items are I suppose how much wbac will try and knock you down vs. lease company trying to do the same.
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