Car Sales... Why is it you Buy high and sell low.
Discussion
Hi all
I know this is a daft post, but all the same I felt the need to vent.
Why does it always seem that you spend ages of time looking for the perfect example of a car, right colour, mileage, spec, trim, history etc, and usually haver to spend over the odds for it.
Then when you come to sell you car for the next project, your told actually its worth considerably less that you paid for it, based on the mass of similar models of your car that happen to be for sale at the same time.
I know that's how life is, but it still is frustrating ;0)
I know this is a daft post, but all the same I felt the need to vent.
Why does it always seem that you spend ages of time looking for the perfect example of a car, right colour, mileage, spec, trim, history etc, and usually haver to spend over the odds for it.
Then when you come to sell you car for the next project, your told actually its worth considerably less that you paid for it, based on the mass of similar models of your car that happen to be for sale at the same time.
I know that's how life is, but it still is frustrating ;0)
Tell me about it.... I was checking every new M3 in my preferred spec offered for sale for the last three months around 20 times a day. OCD kicked in badly. I went to see one supposedly mint example, only to find out it's shortcomings and had 'attitude' from the seller implying that I was a time waster with insufficient funds ? as he had a knackered old 348 berlinetta in a damp open barn surrounded by dog waste...
Well cars are generally depreciating assets and I prefer to spend money on bricks....
Suffice to say when a mint car did finally come up, despite it not being my exact spec, I felt obliged to move fast. I paid over the odds in hindsight, as i fell i love when i saw it and have since found it needs a few gremlins put to bed,though nothing serious.
It will be a well loved car and it's a total joy to drive. My first Beemer but probably not the last. Hope to keep it for around three years then take the inevitable hit. Thing is these NA flat six engines can give 34mpg if you stick it in 6th at motorway cruise speeds, same as my 2L Alfa
What's not to like about that...
Well cars are generally depreciating assets and I prefer to spend money on bricks....
Suffice to say when a mint car did finally come up, despite it not being my exact spec, I felt obliged to move fast. I paid over the odds in hindsight, as i fell i love when i saw it and have since found it needs a few gremlins put to bed,though nothing serious.
It will be a well loved car and it's a total joy to drive. My first Beemer but probably not the last. Hope to keep it for around three years then take the inevitable hit. Thing is these NA flat six engines can give 34mpg if you stick it in 6th at motorway cruise speeds, same as my 2L Alfa
What's not to like about that...
If it is the E46 M3 you are refering to i agree!I bought mine 4.5 years ago and ended up with the colour/spec etc i wanted but despite looking at several others first it did take me several months of searching.Now however the market seems to be swamped with them and i would imagine it is much easier to find the car you want therefore making it more of a buyers market.
I am looking to sell mine in the next few months and to be honest Im not looking forward to it!
I am looking to sell mine in the next few months and to be honest Im not looking forward to it!
I made a £7k loss on mine in 20 months. Like others have said, when I was looking to buy it was almost impossible to find one in the exact spec I wanted. Time to get rid of it and there were loads, ended up part exchanging mine as I didn't want the hassle and similar ones had been advertised for a long time without selling.
Always the way with cars for me, some people seem to get bargains and not lose much if anything, certainly not the case with me, perhaps my impatience is what costs me!
Always the way with cars for me, some people seem to get bargains and not lose much if anything, certainly not the case with me, perhaps my impatience is what costs me!
I've been watching the classifieds here and elsewhere for the last two months looking for an E36 M3 and its amazing how close the prices of E36 and E46's actually are.
Sadly I think the E46 M3 is now at a point where they are cheap to buy so get bought buy people who cant afford to keep it running.
Sadly I think the E46 M3 is now at a point where they are cheap to buy so get bought buy people who cant afford to keep it running.
Sadly I think the E46 M3 is now at a point where they are cheap to buy so get bought buy people who cant afford to keep it running.
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Hence the reason why I bought mine from a six figure earner. He lost 10k in 18mths of ownership and only did 2000miles in that time due to work commitments. Most of the little issues I'm sorting now are due to it's lack of use. This will not be the case in my ownership hopefully.
On the money jaedba2604.
My most recent car is a E46 M3. I noticed that they have really dropped over the last few months, and as a previous poster, I was watching them for months before getting the colour and spec I wanted, and at the time I thought I bought well.
But a few weeks ago when I had a thought about selling, I was very surprised about 1. The price of all the cars, and 2. The lack of interest.
When you get a valuation from a dealer / trader, you know its bad, but when they offer 2K under the cheapest car you can see for sale it’s a bit much. (I realise you never get a good deal with a trader, as your paying for the convenience of swapping cars without selling your own, before anyone mentions it, Plus we buy any car are even worse)
This issue has always been around, I guess its making sure if you buy a specialist car that you don’t buy a lemon, but as one of my friends always says, buy a cheap one, and you have the spare cash to fix it if it goes wrong, and when you move it on again you will be losing proportionally less money
;0) Ho hum
My most recent car is a E46 M3. I noticed that they have really dropped over the last few months, and as a previous poster, I was watching them for months before getting the colour and spec I wanted, and at the time I thought I bought well.
But a few weeks ago when I had a thought about selling, I was very surprised about 1. The price of all the cars, and 2. The lack of interest.
When you get a valuation from a dealer / trader, you know its bad, but when they offer 2K under the cheapest car you can see for sale it’s a bit much. (I realise you never get a good deal with a trader, as your paying for the convenience of swapping cars without selling your own, before anyone mentions it, Plus we buy any car are even worse)
This issue has always been around, I guess its making sure if you buy a specialist car that you don’t buy a lemon, but as one of my friends always says, buy a cheap one, and you have the spare cash to fix it if it goes wrong, and when you move it on again you will be losing proportionally less money
;0) Ho hum
khushy said:
the reason is EMOTIONS!!!
To true, but then again, why buy the cheapest, worst spec of something just to have one? To get a good deal you have to take what’s available I guess, and as khushy says, don’t let you heart over rule you head! but then again, isn’t that why we are on Pistonheads in the first place, as were passionate about motors ;0) its a lose lose lol.gazzat said:
P101
I think you will be lucky only to lose £5k on it. Mine has lost £9k in 9 months. BMW really need to get their act together and support M car residuals. I for one would rather keep my M3 than swap it for an £80k M5 that will be worth £25k is 3 years
what sort of percentages are we talking here? is this new car depreciation? to lose £1k a month seems high.I think you will be lucky only to lose £5k on it. Mine has lost £9k in 9 months. BMW really need to get their act together and support M car residuals. I for one would rather keep my M3 than swap it for an £80k M5 that will be worth £25k is 3 years
+49 said:
5k in 3 months ? jesus ? what's it up for mate?spec?
It's an 08 cab, interlagos blue, 10k miles, it's up for £33500, I bought it for £35k, then I spent £1200 on a (transferable) BMW warranty, £300 or £400 on a wind deflector, a few quid on other bits like the iPod adaptor. £460 on tax. So not quite £5k. The cars really nice, but I really miss my old Lambo and so want to get another one of those. Was a mistake buying the M3 really. Will be a bargain for someone. My cars up at a good price I believe, dealers have similar ones up with higher mileage for alot more, and they are not really offering anything I'm not. Except finance of course.Sidewindow said:
I put my M3 up for sale last week at what I thought was a reasonable price, but have had no interest at all. Definately a buyer's market for cars like this at this time of year, I think residuals may improve a little when spring arrives.
My point exactly. I was thinking of moving mine on, its a 51 Plate SMG with 52K, Massive spec, which wants for nothing, I popped it on here, and not a sniff, and worst of all, at the time it was advertised, it was the cheapest for the spec and year ;0(Gassing Station | M Power | Top of Page | What's New | My Stuff