How much will my car depreciate in 6 months?

[mrrossi]

Hi all

I bought a BMW 335 SE convertible only a couple of months ago for £18.5k but for too many reasons to go into here, I want to sell it.

Problem is, summer has gone and it may be hard to shift a convertible now (although it is the hardtop variety).

Perhaps I'm better off holding onto it until spring next year when there's more demand for convertibles; but will it have depreciated much by then? It's got about 30K on the clock and I may add max another 5k in 6 months. It's a 2008 petrol model. All the extras (SatNav, heated seats etc) although standard alloys.

Any idea how much it would be worth in 6 months - i.e. I could try dropping the asking price to that value now rather than wait if I'm going to loose money anyway...

I tried the whatcar depreciation tool (and some others) but they are only for new cars/for 4 years...

Crystal balls at the ready please

Thanks

Ross

[TinyCappo]

Lots ;P

Serious note if you can hold onto it till April/May next year then you will get more buyers interested but the price will largely be the same as now I expect id envisage a 2k loss for a fast sale.

[Monty Python]

Depends on the spec - you can pick up similar cars with under 30k on them for less than 18k through BMW used approved.

http://www.approved.bmw.co.uk/bmwuk/bmwauc/details...

http://www.approved.bmw.co.uk/bmwuk/bmwauc/details...

[Snowboy]

As a rule of thumb a car will lose about half of it's value every 3 years. (Very roughly).


In your case though it's harder to work out.
Assuming you bought from a dealer but are selling privately there's a difference there too.
One extra owner.

£18500 from a dealer.
Six months later, private sale, maybe £15-16k

[mrrossi]

Thanks for the info guys... something to have a think about...