Discussion
I have a 2016 bmw 3 series which I bought during the lockdown in October. Having covered 6k in the car, I feel that I have not gelled with it and want to move it on. I have a couple of options open to me:
Sell bmw privately and then keep aside half the money for the next car fund and buy something cheaper for a few grand to do me now.
Trade the bmw in and buy a car that I want plus add a couple of thousand towards it
Take the bmw to one of these buy a car place and sell it to them.
When I bought the bmw it was a bargain at £10k and trade in values I’ve been offered range from £8500 to £9000. In fairness I feel that is not too bad.
The problem I have although I don’t need the money, I just cannot justify spending more money on a car. I usually keep my cars 2 years and that’s that. I do 6k a year roughly.
What would you do ?
Sell bmw privately and then keep aside half the money for the next car fund and buy something cheaper for a few grand to do me now.
Trade the bmw in and buy a car that I want plus add a couple of thousand towards it
Take the bmw to one of these buy a car place and sell it to them.
When I bought the bmw it was a bargain at £10k and trade in values I’ve been offered range from £8500 to £9000. In fairness I feel that is not too bad.
The problem I have although I don’t need the money, I just cannot justify spending more money on a car. I usually keep my cars 2 years and that’s that. I do 6k a year roughly.
What would you do ?
Changing your car every two years kinda points towards leasing surely? At only 6k miles per year it will probably open up more options at a reasonable monthly cost.
If not then I would look for a car that ticks all the boxes and hang onto it. I've changed my cars far too often and it's probably cost me thousands upon thousands to dealer profits, which is fair enough as they are in business after all. But I should have just stumped up for right car in the first place and hung onto it.
If not then I would look for a car that ticks all the boxes and hang onto it. I've changed my cars far too often and it's probably cost me thousands upon thousands to dealer profits, which is fair enough as they are in business after all. But I should have just stumped up for right car in the first place and hung onto it.
I'm not really seeing the problem here. The way the current market is you can sell that car for roughly what you paid for it. Given that you don't like it I'd call that a no brainer.
Once sold you have the cash to spend on whatever you like. Doesn't matter if you spend all or half of the budget.
Once sold you have the cash to spend on whatever you like. Doesn't matter if you spend all or half of the budget.
Captainfred said:
I have a 2016 bmw 3 series which I bought during the lockdown in October. Having covered 6k in the car, I feel that I have not gelled with it and want to move it on. I have a couple of options open to me:
Sell bmw privately and then keep aside half the money for the next car fund and buy something cheaper for a few grand to do me now.
Trade the bmw in and buy a car that I want plus add a couple of thousand towards it
Take the bmw to one of these buy a car place and sell it to them.
When I bought the bmw it was a bargain at £10k and trade in values I’ve been offered range from £8500 to £9000. In fairness I feel that is not too bad.
The problem I have although I don’t need the money, I just cannot justify spending more money on a car. I usually keep my cars 2 years and that’s that. I do 6k a year roughly.
What would you do ?
It's very muddled thinking with all due respect. If you can't justify spending large amounts of money on a car the simplest way to save money is to not change it so often and buy one lower down the depreciation curve. Saying you "don’t need the money" but "just cannot justify spending more money on a car" suggests that you do need the money for other things higher on your priority list (e.g. housing?).Sell bmw privately and then keep aside half the money for the next car fund and buy something cheaper for a few grand to do me now.
Trade the bmw in and buy a car that I want plus add a couple of thousand towards it
Take the bmw to one of these buy a car place and sell it to them.
When I bought the bmw it was a bargain at £10k and trade in values I’ve been offered range from £8500 to £9000. In fairness I feel that is not too bad.
The problem I have although I don’t need the money, I just cannot justify spending more money on a car. I usually keep my cars 2 years and that’s that. I do 6k a year roughly.
What would you do ?
As for "Sell bmw privately and then keep aside half the money for the next car fund and buy something cheaper for a few grand to do me now". What do you mean? Will there be some significant change in circumstance that will enable you to spend more on a car sometime in the future, otherwise why delay?
Thanks for the responses guys. Sorry for my late reply not been on the forum for the last couple of days.
The reason why I am a bit reluctant to sink a lot of money into a car is because it sits there 5 days out of the 7 doing nothing. My thinking was I could spend £4K of the money I get for it and keep the other money from the sale in an account so that when I start driving more I can put that money towards another car.
The other part of me like some of you guys have said is that I should go buy something I’ll enjoy and gel with and then keep ahold of it for a while. I can see the logic in that approach and in fairness is probably the most sensible approach.
I
The reason why I am a bit reluctant to sink a lot of money into a car is because it sits there 5 days out of the 7 doing nothing. My thinking was I could spend £4K of the money I get for it and keep the other money from the sale in an account so that when I start driving more I can put that money towards another car.
The other part of me like some of you guys have said is that I should go buy something I’ll enjoy and gel with and then keep ahold of it for a while. I can see the logic in that approach and in fairness is probably the most sensible approach.
I
Update
Finally got the V5 for the bmw and took it into Arnold buys your car. To my delighted they offered £9700 for it so snapped their hand off. I would highly recommend using them as they are paying top dollar. This was £74 lower than their original offer due to a small scuff on one of the alloys.
I am now car less so will need to source a replacement as soon as possible.
Finally got the V5 for the bmw and took it into Arnold buys your car. To my delighted they offered £9700 for it so snapped their hand off. I would highly recommend using them as they are paying top dollar. This was £74 lower than their original offer due to a small scuff on one of the alloys.
I am now car less so will need to source a replacement as soon as possible.
Edited by Captainfred on Tuesday 7th September 14:14
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