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01-22-2013, 03:46 PM | #1 |
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Value After 1 Year !!!!!!!!!!
I have had mine, since Dec2011, its value is half what it was in the show room, I paid a lot less so its not that bad, but still a real shock.
What do you guys think, Is it because the new model is on its way?(But thats still a year at least) Or large engined performance cars, from what is now a main stream manufacturer are not the wise choice in a global melt down. I really want to change, but residual is so shit that I may jump ship to get something else that may as well lose just as much (Audi S6,Rs4?).But as most top end BMW appear to just drop in value, anything highend is generally offered on some sort of discounted contact hire deal, which will almost certainly kill the residual instantly. BMW UK are now offering M5 ON INTEREST FREE CREDIT 0% APR,along with anything half interesting!!! Your thoughts please |
01-22-2013, 04:09 PM | #3 |
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If you buy a new car every year you are going to loose money on them all. The value is in the usage and enjoyment for me. If you looking for a car that will not depreciate you will need to get a classic, or a beater.
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01-22-2013, 04:10 PM | #4 |
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How is the value half in one year? Mine sure isn't that way.
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01-22-2013, 04:17 PM | #5 |
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My car was £67k list, now booking at £36k from BM dealers others like porsche better at around £39k
This is the UK! I am also well aware of the hit you take in the first year, is it the car or the economy ? |
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01-22-2013, 04:22 PM | #7 |
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So let's be clear, the dealer would value/buy the car back at £36k? If that is the case, keep in mind that the dealer is offering a real low ball price so that they can turn a nice profit when the resell the car. I suspect a private market sale/value would be higher than £36k... And yes, the depreciation sucks but I, like others have noted above, view that as the price of poker. It is the cost of enjoying my M3.
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01-22-2013, 04:30 PM | #8 |
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Yes I agree, thats why they are called stealers!
But here in the UK, the top end cars get slapped big time, not helped by BMW give away offers on any thing half decent. My dealer has a £80k 640d MSport Gran Coupe 8 months old, now £53k with no takers. On the up side will keep M3 another year I think. |
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01-22-2013, 05:08 PM | #9 |
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Are you comparing MSRP to trade in value?
Why not compare MSRP to private party? I cannot believe your 2011 sold private party is worth 50% of MSRP. Unless your car came with a 20K markup. My two year old car has depreciated around 16% from MSRP. Average depreciation is 15% per year. So I am looking at close to half of that realized. These cars are holding their value very well, at least in the States. Of course if you order something like Bright Yellow on Extended Bright Red Dead Cow, you might experience less favorable depreciation.
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01-22-2013, 05:10 PM | #10 |
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Wow, if it really did half in value... Talk about depreciation!
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01-22-2013, 05:20 PM | #11 |
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I agree the depreciation hit is very large but it is important to realize that the UK market for a car like the M3 is very different from the US market. That is part of the issue. The issue is that the OP is essentially comparing a trade-in value from the dealer to his car's MSRP when he notes the value being half...
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01-22-2013, 07:08 PM | #12 |
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Joy of ownership > depreciation
Probably not helping you feel better but thought I'd try.
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01-22-2013, 09:15 PM | #13 |
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I suggest you shop around and research the market. Actually, just see what cars similar to your model are selling. If you have a british version of autotrader, that's great! Depreciation is a curse we car lovers have to put up with. But I strongly doubt any new car will lose half its value in just one year, unless it's some kind of Pinto that keeps catching fire and blowing up or something.
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01-22-2013, 11:31 PM | #14 |
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if you shop around and do your hmwk, you won't loose nearly that much $$$ ..... I am speaking for US strictly.
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01-22-2013, 11:55 PM | #16 |
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mine is half after 4+ years and beating it on the track.
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01-23-2013, 12:25 AM | #17 |
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If you plan to trade it in to a dealer then this is just what to expect. Dealers these days are very greedy, they will likely to mark up your trade by 10-15k. (My 08 was traded in for $40k and dealer asked $55k later when they put it in the market) if possible, try to sell the car in private, 2011 model has hot warranty and that sure is a + for private party buyer.
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01-23-2013, 02:51 PM | #18 |
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Thanks Guys
KS CARROL MSRP was £67k I paid £49K (So you are wondering why I am asking the question) But £36K trade in to the UK stealer , they will retail it at around £40k-£42k BUT THATS NO GOOD TO ME( OP OR NOT) I wished I lived in the states, the UK market is savage. So that makes BMW cars in the UK hugely over priced!Unless its one of the lower power less co2 ones. Interest free credit on the M5 says everything! Remember my original question is the value due to The car! or The economy The savage loss is usual in the first 12 months, everyones knows that, BM's in the UK WOW! |
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01-23-2013, 06:32 PM | #19 |
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Standard depreciation on a car is 15% y/o/y
You are within range. Comparing MSRP to trade-in is comparing two different types of prices.
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01-23-2013, 06:58 PM | #20 | |
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Quote:
People derive a great deal of pleasure from keeping things that can't be kept new in new condition. There is always something to do. Like many aspects of life, the most fun part is the chase.
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01-23-2013, 07:50 PM | #22 |
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Rofl. it's just like how people think they got a free iPhone or 100 dollar iPhone from their cell phone carrier, there's no such thing, you pay for it through your rate plan for 2 years, no free lunch.
IPhone 5s are like 700 MSRP. So if you pay 200, you think Apple or ATT are giving you a $500 gift? |
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