Used car prices
Discussion
Got my car serviced at Berry BMW Heathrow yesterday 34k miles £620 gulp! Luckily they messed up my handover and gave me a £200 off voucher it is a 2018 F30 335d .Anyway walking around the showroom their cars were mostly in the £40k plus mark. Phew these cars are getting crazily priced .They have a Mini section they were all in the £30's apart from one at £24. I think of those and the new electric cars that cost top dollar money for not a lot and wonder where it is all heading,or infact actually headed right now
Edited by smashy on Tuesday 10th May 19:09
Its nuts. I have a low mileage 2018 340i and am likewise about to get fleeced on the 4 year service (£600)
However there's absolutely nothing remotely to move into being a cash buyer. Previously my natural step up would have been a pre owned something with a £10-15k cost to change. No chance,. likewise the missus Mini. We're sticking for now, or probably the medium term.
However there's absolutely nothing remotely to move into being a cash buyer. Previously my natural step up would have been a pre owned something with a £10-15k cost to change. No chance,. likewise the missus Mini. We're sticking for now, or probably the medium term.
Whilst used prices are still high, they definitely seem to be softening this year.
I sold my 335D to WBAC, and it appeared back at BMW at £3900 more than I received. It's still for sale as an AUC, but they've knocked £2200 off, thus far. There won't be any profit in it for them, unless someone takes out finance on it.
Other stuff seems to be on the way down, too.
I sold my 335D to WBAC, and it appeared back at BMW at £3900 more than I received. It's still for sale as an AUC, but they've knocked £2200 off, thus far. There won't be any profit in it for them, unless someone takes out finance on it.
Other stuff seems to be on the way down, too.
Edited by RUSSELLM on Wednesday 11th May 15:57
I nabbed a 65k, 15-plate 335i Touring (pan roof, powered boot, HK, pro nav, elecy seats and various other bits) for £18750 from Cinch 3 months ago. I knew it was a little under the market value, but after realising it wasn't really right for the family, a local independent snapped my hand off at £18900.
Basically I used it like a free hire car for 2k miles. The dealer has listed it at just under £23k. It's a lovely car for sure, but not a £23k car...
I've moved down the ladder in terms of value, which feels like the right way to move in this market. I'm WFH so it's not as if I'm doing the miles to worry as much about economy, car park prestige etc.
Basically I used it like a free hire car for 2k miles. The dealer has listed it at just under £23k. It's a lovely car for sure, but not a £23k car...
I've moved down the ladder in terms of value, which feels like the right way to move in this market. I'm WFH so it's not as if I'm doing the miles to worry as much about economy, car park prestige etc.
RUSSELLM said:
I've done the same, I'm in a Citroen C3 
I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
That's incredible, nice work.I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
Last year I sold a 3008 for £4k profit in 6 months, and a XJ for a £1k profit a week afterwards. I lost some of that in a poor decision to go for a FFRR, but to still be a few £k up over the period is the equivalent of free motoring, fuel included. Strange times.
RUSSELLM said:
Some nice results there
Whether I've timed it correctly or not, I don't know. But I felt the time was right to jump into a cheapie.
I take it the FFRR suffered some depreciation, rather than you having to chuck money at it ?
Sort of. I punted it on before having to spend money on it. I then saw that the original dealer bought it back through the auctions and no doubt didn't bother getting the gearbox sorted for the next buyer, either.Whether I've timed it correctly or not, I don't know. But I felt the time was right to jump into a cheapie.
I take it the FFRR suffered some depreciation, rather than you having to chuck money at it ?
The loss I made on it probably equated to what I think it would have cost to get it fixed.
RUSSELLM said:
I've done the same, I'm in a Citroen C3
I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
Depreciation is like appreciation, it only works if you don’t want a replacement, cf. house prices.I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
Court_S said:
It is indeed bonkers.
Mate of mine is an M140i which is coming in to the end of its PCP so the dealer is on his case to trade it in. He’s paying about £350 a month. They’ve offered him a 420 cab as a replacement at £550 a month!
He’s politely declined.
What will he do instead? Interested in other people's thoughts that are in similar situations.Mate of mine is an M140i which is coming in to the end of its PCP so the dealer is on his case to trade it in. He’s paying about £350 a month. They’ve offered him a 420 cab as a replacement at £550 a month!
He’s politely declined. Pica-Pica said:
RUSSELLM said:
I've done the same, I'm in a Citroen C3
I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
Depreciation is like appreciation, it only works if you don’t want a replacement, cf. house prices.I had 3 years and 30k miles out of the 335D for £200 depreciation, which was a decent result
I bought the Citroen with the £4500 depreciation I'd expected
My thinking at the time, was that a £19k car was going to lose more value than a £4k car.
That and the £15k should come in handy for another project
Fusion777 said:
What will he do instead? Interested in other people's thoughts that are in similar situations.
He think he’ll just pay the balloon payment and keep it. He likes the car and there is nothing else that he likes for similar cash.Our company car scheme has closed and he has an i3S through that which is due to go back soon. That’s cost him very little but he’ll need to replace it which is going to be tough because it’s cost him so little.
Pica-Pica said:
Depreciation is like appreciation, it only works if you don’t want a replacement, cf. house prices.
I understand what you're saying, particularly if you're looking for a replacement of similar age and spec, but I don't think it's quite that simple overall. You also have the option to move down the ladder (the equivalent of 'downsizing' in property) or finding assets behind the value curve and exploiting that.I'm not the only person who has done both in the last couple of years. There are still bargains to be had if the seller's pricing model - or desperation to sell - work in your favour as a buyer. Particularly in the private market.
Prices are getting silly now. I'm seriously thinking of keeping my car at the end of it's PCP. I have a 2018 540i xDrive which is due to go back in just over a year. I got the call from the dealer to say it's in positive equity and I can change it. The only thing on the forecourt I fancied was a 2017 M3 competition. To keep my payments around the £450 mark, I would have had to hand over my car plus £8,000 for it.
With possibly new tyres and the major service due on it that could have ended up being more like £11,000 in the first year. Despite having the cash sitting in the bank It just didn't make sense. I love my car, it does everything I need and I only have to pay the balloon at the end which is < £16k. I could buy it cash and free up the monthly payments and it would still be a low mileage, decent spec car worth (currently £26k) on WBAC and they're up to £35k on Autotrader. Working from home, I just don't need to change something that sits there 5 days a week not moving. I do get bored easily and fancy a change but it doesn't make financial sense.
With possibly new tyres and the major service due on it that could have ended up being more like £11,000 in the first year. Despite having the cash sitting in the bank It just didn't make sense. I love my car, it does everything I need and I only have to pay the balloon at the end which is < £16k. I could buy it cash and free up the monthly payments and it would still be a low mileage, decent spec car worth (currently £26k) on WBAC and they're up to £35k on Autotrader. Working from home, I just don't need to change something that sits there 5 days a week not moving. I do get bored easily and fancy a change but it doesn't make financial sense.
toon10 said:
Prices are getting silly now. I'm seriously thinking of keeping my car at the end of it's PCP. I have a 2018 540i xDrive which is due to go back in just over a year. I got the call from the dealer to say it's in positive equity and I can change it. The only thing on the forecourt I fancied was a 2017 M3 competition. To keep my payments around the £450 mark, I would have had to hand over my car plus £8,000 for it.
With possibly new tyres and the major service due on it that could have ended up being more like £11,000 in the first year. Despite having the cash sitting in the bank It just didn't make sense. I love my car, it does everything I need and I only have to pay the balloon at the end which is < £16k. I could buy it cash and free up the monthly payments and it would still be a low mileage, decent spec car worth (currently £26k) on WBAC and they're up to £35k on Autotrader. Working from home, I just don't need to change something that sits there 5 days a week not moving. I do get bored easily and fancy a change but it doesn't make financial sense.
Same situation as you. Currently have a 2018 Audi SQ5 which I've had coming up to 3 years now on pcp and I get the call from Audi - great news your car has equity, come and speak to us for an upgrade. Thought I'd use this opportunity to downgrade as I'm WFH and don't need a fast SUV. Wanted to downgrade to a new S3 sportback, Mr Audi wants my SQ5 (WBAC and Motorway have offered more for it than Audi) and £5k of my hard earned pounds to keep the same monthies and advises spec like wireless charging and parking sensors will not be on the factory ordered S3 thanks to chip shortages. So a more expensive car and less spec? No chance - I'll be buying my highly specc'd SQ5 and coming off the pcp wheel.With possibly new tyres and the major service due on it that could have ended up being more like £11,000 in the first year. Despite having the cash sitting in the bank It just didn't make sense. I love my car, it does everything I need and I only have to pay the balloon at the end which is < £16k. I could buy it cash and free up the monthly payments and it would still be a low mileage, decent spec car worth (currently £26k) on WBAC and they're up to £35k on Autotrader. Working from home, I just don't need to change something that sits there 5 days a week not moving. I do get bored easily and fancy a change but it doesn't make financial sense.
I can see a lot of pcp'ers doing the same at the end of their term.
One of my neighbours had a C63s until recently (current model, on a private plate). That number plate now sits on a base looking CLA. Could be a move to save money on the monthlies?
If so and if this becomes a trend in consumer behaviour, we can expect values of higher-end cars to soften notably.
If so and if this becomes a trend in consumer behaviour, we can expect values of higher-end cars to soften notably.
Been toying with the idea of replacing my 2018 Mondeo family wagon as it was coming up to balloon time. The balloon was 6k and WBAC/Motorway gave me offers of around £15k for it. Was thinking of PHEV as it is the main family car, but is also used by swmbo for short trips like nursery drop offs (I use my 325ti as the boy loves it).
We looked at 330e and 530e touring, but the prices were just ridiculous - especially as we didn't want to drop any spec (electric leather, heated, memory seats, electric memory steering column, Android Auto, Enhanced Sound, All round parking sensors, reversing camera, LED lights etc.). So we decided to jump off the PCP wagon and just paid the 6k balloon. I think a lot of people may do the same, especially as they realise they will have to both a.) add extra to the deposit and b.) up the monthlies to maintain spec.
We looked at 330e and 530e touring, but the prices were just ridiculous - especially as we didn't want to drop any spec (electric leather, heated, memory seats, electric memory steering column, Android Auto, Enhanced Sound, All round parking sensors, reversing camera, LED lights etc.). So we decided to jump off the PCP wagon and just paid the 6k balloon. I think a lot of people may do the same, especially as they realise they will have to both a.) add extra to the deposit and b.) up the monthlies to maintain spec.
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