645 prices: particularly savage recent drop?

[chrisx666]

Mail sent Robin.

[David911RSR]

pgilc1 said:

David911RSR said:

Deutscher said:

David911RSR said:

If the stealers are retailing these cars at 23k, they would have paid approx 15K at best. Given most metal of this nature is depreciating by 1-2K per month, the trade price of this car will be 10K in 5 months! It's not just the high end motors that are subject to depreciatation of this magnitude. An 07/57 Gold GT TDi 170 with 11,000 miles trades at 11 - 12K!

No. If they are retailing at £23k, they would have paid £18k or so.

And you have to look at depreciation as a percentage, not a flat sum, otherwise they would be paying you to take the car away!

Try getting a bid on one and see how near to 18k you get.

Point being, that it's not just the highend products that are suffering in this way.

Just because its maybe hard to get a bid doesnt mean its not what its worth. No dealer would take in a car like that to stock it unless it was as a trade in.

On a £23K car the dealer will aim for around £5K gross margin - never £8K.

Oh yes they are. Reason being, dealers are all assuming they will hold the stock for 90 day's. Therefore they take book price and reduce it by a further 3 months plus of calculated depreciation.

[David911RSR]

chrisx666 said:

I'm picking up a 645 next week :-). Gone for a PCP with guaranteed future value. First time I have ever taken finance rather than cash but I just can't take the depreciation risk - the GFV came out at the car losing under 4k per year over the 24 months, which seemed pretty good.

Good deal.

BMW are susidising their dealers with deals like this to try and make residuals look higher than they actually are.

[pgilc1]

David911RSR said:

chrisx666 said:

I'm picking up a 645 next week :-). Gone for a PCP with guaranteed future value. First time I have ever taken finance rather than cash but I just can't take the depreciation risk - the GFV came out at the car losing under 4k per year over the 24 months, which seemed pretty good.

Good deal.

BMW are susidising their dealers with deals like this to try and make residuals look higher than they actually are.

Yup a salesman in my local dealers was telling me BMW put a residual on an 06 e53 4.8 petrol x5 of £19000 after FOUR years...

[Deutscher]

Interesting that BMW dealers now seem to be undercutting private sellers. Look at these two very similar cars:

http://www.pistonheads.com/sales/574641.htm

http://www.bmw.co.uk/bmwuk/auc/car_details/0,,1260...

And the dealer's car is a year younger!

[pgilc1]

Deutscher said:

Interesting that BMW dealers now seem to be undercutting private sellers. Look at these two very similar cars:

http://www.pistonheads.com/sales/574641.htm

http://www.bmw.co.uk/bmwuk/auc/car_details/0,,1260...

And the dealer's car is a year younger!

Thats happening all over the place not just BMW - all dealers have realised the price drop, but private sellers still think their cars are worth a bomb.

[Not Ideal]

Thats happening all over the place not just BMW - all dealers have realised the price drop, but private sellers still think their cars are worth a bomb.
[/quote]

+ 1 - totally agree with that

[Creditcrunch]

Not only that but Pistonheads seems to be the place where these ambitious owners are advertising their cars. Over on Autotrader and other places the 645's are being being advertised from around £15K.

I could imagine an early, 80k ish miles car could be bought for around £13-15k so the £23K in the PH advert is still expensive. More like £16K

[inishfalle]

Hello I bought my 645 (54 Jan 05)coupe from BMW in Sept £20 k ! 24 k miles, why buy from dealer ?history and used car warrany simple as that. Road tax £210 pds per year(cheaper then wifes volvo xc90 3.2). Yes vrt may increase but if you want to save money by a diesel focus!. BMW is all about fun, see new review on PH website. I love the sound of the engine frequently drop speed and acelerate in tunnels with windows down or down pall mall just to hear it. Fuel 22 mpg when pushed 26 mpg on the motorway not bad for v8! Had one new tire £300 quid, brake fluid and air filter change £120. Had mercedes and audi before and customer service was s..t. Make sure you get model with dynamic suspension (helps it go around corners). Got car on pcp will hand it back in 3 years assuming G B does not introduction 2k vrt! or ban fun! (has he already done that?)then change for m3 or 650 or maybe m6!

Edited by inishfalle on Friday 16th January 12:12

[minerva]

There is a 2004 645 on autotrader currently for just under £12000. These are crazy times....

[Bravia]

Crazy times indeed.

So depressing knowing I can't get insured on one

This is a car that I have and still am dying for, for the last 5 years...

When I was first looking the cheapest was 24k which was right out of my budget, now its right in

[Deutscher]

minerva said:

There is a 2004 645 on autotrader currently for just under £12000. These are crazy times....

I doubt that can be a genuine ad or, if it is, the car must be a dog/mega-miles/super-naff spec.

A good spec lowish mileage (under 40k) 645 still costs around £20k if BMW Approved Used or £18k elsewhere.