Buying a used 330e ?

[hot66]

Considering a 330e for the wife as her company car . I have the option of contract hire , but the rates are pretty high for a 24 month and 20k miles pa

Just been looking at 1-2 year old 330e msports and was quite surprised at the deprecation ! 8000 miles / 1 year old and they are available from a main dealer for mid to late £20's ... Almost £15k depreciation ( explains the high CH rates )

So , what am I missing ? Why the massive depreciation ? Is there a reason not to buy a used one ? Are the batteries limited lifespan ? Is a 1 year old £28k 330e going to be worth nothing in another 2-3 years with 60k miles on the clock ?

Edited by hot66 on Saturday 18th November 13:41

[Welshbeef]

Shock horror cars lose roughly 50% of their value in 3 years and the options you lose all that value instantly (of trading in).

[hot66]

Stop patronising ...I've been doing this long enough to know about depreciation and on working about the best way to fund that depreciation . ( couple of new cars swapped every 2 years)

I'm taking here about 50% deprecation in 2 years based on both 2nd hand market and current contract hire rates . That is a lot more deprecation than historically has been assumed.

I'm wondering whether there might be a specific reason NOT to buy a used 330e due to the technology .

[LayZ]

Well, list is a long way off what some people will actually pay. Have you checked carwow or drivethedeal? If you have an old diesel you might be able to get additional £thousands off.

Plus new cars have 20% VAT on.

Only downside I can see is the electric range on them is pretty crap, but if it is just for into town and back it'll work.

[anonymous-user]

I would think it has something to do with the fact that most used cars go to private buyers, not to business users.

The only real benefit of a 330e is avoiding the high BIK rates which is of little use to the private buyer, ergo it's a smaller than normal market and so the depreciation is higher than normal.

In other words the extra cost of the 'e' new has no value in the used car market.

[anonymous-user]

More than no value, I think the e part is viewed as a big risk (in terms of costs if it goes wrong etc.) by 2nd hand buyers and that depresses the price compared to similar spec non e cars

[hot66]

Thanks

Thought it might be something like that. Wasn't sure wether the batteries for example had a specific lifespan etc.

For me , it's purely a BIK exercise so we are Deffo going for a hybrid and after dragging my wife around various showrooms etc looks like the 330e is best the compromise for the next 2 years .

Just need to do some sums and see wether I should buy a used one or go with my preferred option of contract hire

[Fast Bug]

Don't forget £2500 of the list price is taken off by the government grant, then there are massive discounts available on BMW's as nobody pays anywhere near list price, so the depreciation isn't as bad as it first looks

[BMW330enut]

I agree there is a certain nervousness from private buyers over bmw hybrid tech.

In addition to this bmw heavily discount new cars. My 330e has a list price of £39,320. The company paid £27,800 including the £2.5k grant for it.

[hot66]

That sounds like a cracking deal . Would probo make sense for me to buy at that rate.

Current contract hire quotes is £615+vat based on. 3+23 , 20k miles pa for a 330e msport with met paint and no other options ( would actually a few small options)