Part exchanging my E60 M5
Discussion
....... or not!!!!
Blimey, I know we've all had our fill of these 'M5 depreciation horror' stories but I'm trying to part-ex my 06/06 37000 mile M5 (with the usual telly, phone, ipod etc) and it is horrendous.
£30k is common place and only £31.5k from a BMW main dealer.
Nobody seems to want them at the moment.
Blimey, I know we've all had our fill of these 'M5 depreciation horror' stories but I'm trying to part-ex my 06/06 37000 mile M5 (with the usual telly, phone, ipod etc) and it is horrendous.
£30k is common place and only £31.5k from a BMW main dealer.
Nobody seems to want them at the moment.
I got rebuked on here when I dared say that the E60 M5 was depreciating at over £1,000 a month having been told this by an independant and two group buyers for major BMW dealerships... By the end of this year they'll be trading in at mid-£20k's or lower and selling for well under £30k.
Amazing car to drive - one of the best without argument - but...
Amazing car to drive - one of the best without argument - but...
- scary 'out of warranty' stories starting to surface - £6k+ for a gearbox anyone? (my local dealer had an M5 in for a new gearbox; 2 weeks out of warranty and BMW UK didn't want to know!)
- over supply - over 50 on BMW and over 100 on Autotrader!
- horrendous MPG - even if driven relatively sedately.
- stupidly small fuel tank requiring stops every 200 miles or so.
If I told you six months ago that oil prices would double you would call me a bull*******.
I think it is unlikely but not impossible and the days of the V10 gas guzzler M5 are limited. A top car but the newer versions will be hybrid / lpg / electric / hydrogen I believe. Buy and enjoy one whilst you can.
I think it is unlikely but not impossible and the days of the V10 gas guzzler M5 are limited. A top car but the newer versions will be hybrid / lpg / electric / hydrogen I believe. Buy and enjoy one whilst you can.
Will there come a time when fuel is so expensive that only the rich will be on the road? Say in 5 years time at a guess? If that were to happen surely our economy will completely belly flop...
If no one can get provisions then nearly all bar the wealthiest of companies will collapse.
I doubt the government would allow that to happen would they? They must put a ceiling price on fuel at some point. Probably something like £1.50 per L.
If no one can get to work then everything will grind to a halt.
Or we could just invade another oil rich country in the name of world safety and have theirs. Now im just be facetious.
If no one can get provisions then nearly all bar the wealthiest of companies will collapse.
I doubt the government would allow that to happen would they? They must put a ceiling price on fuel at some point. Probably something like £1.50 per L.
If no one can get to work then everything will grind to a halt.
Or we could just invade another oil rich country in the name of world safety and have theirs. Now im just be facetious.
Did anyone read the comment in the Mail section in this weeks Autocar regarding the chap who was upset that the previous review for the RS6 stated that the car would lose £50000 within 3 years( he has one on order ) ?
Basically he says that his finance offer from Audi finance has the future value of around £43000 after 3 year from a purschase price of £78000. If he manages to get £43000 back after 3 years ownership i would be bloody amazed , my feelings would be a trade bid of £33000/£36000 would be more than likely and maybe a private sale of around £38000 and thats being generous.
And personally if you need to finance an RS6 with the market going the way it is you shoundn't be really buying one.
Chipper
Basically he says that his finance offer from Audi finance has the future value of around £43000 after 3 year from a purschase price of £78000. If he manages to get £43000 back after 3 years ownership i would be bloody amazed , my feelings would be a trade bid of £33000/£36000 would be more than likely and maybe a private sale of around £38000 and thats being generous.
And personally if you need to finance an RS6 with the market going the way it is you shoundn't be really buying one.
Chipper
Chipper said:
Basically he says that his finance offer from Audi finance has the future value of around £43000 after 3 year from a purschase price of £78000. If he manages to get £43000 back after 3 years ownership i would be bloody amazed , my feelings would be a trade bid of £33000/£36000 would be more than likely and maybe a private sale of around £38000 and thats being generous.
Isn't the £43k a GFV ?At 3 years, he either hands the car back and walks away, or, pays the £43k and keeps it if he feels the market value is higher.
LittleBro said:
Will be an incredible purchase at sub £30k.
£2k+ a year warranty costs (or take a huge risk) and 15mpg day to day with fuel at circa £1.30+ a litre is currently making a lot of people stay well away from them...Out of the 100+ on the market at the moment there are some stonking bargains and by next year they'll be well under £30k retail.
BUT, no matter how 'cheap' they are to buy, the running costs are still for a £70k+ super saloon!
But saying that, if I had the burnable cash I'd have one again like a shot...
Vee said:
Chipper said:
Basically he says that his finance offer from Audi finance has the future value of around £43000 after 3 year from a purschase price of £78000. If he manages to get £43000 back after 3 years ownership i would be bloody amazed , my feelings would be a trade bid of £33000/£36000 would be more than likely and maybe a private sale of around £38000 and thats being generous.
Isn't the £43k a GFV ?At 3 years, he either hands the car back and walks away, or, pays the £43k and keeps it if he feels the market value is higher.
Chipper
Chipper said:
Vee said:
Chipper said:
Basically he says that his finance offer from Audi finance has the future value of around £43000 after 3 year from a purschase price of £78000. If he manages to get £43000 back after 3 years ownership i would be bloody amazed , my feelings would be a trade bid of £33000/£36000 would be more than likely and maybe a private sale of around £38000 and thats being generous.
Isn't the £43k a GFV ?At 3 years, he either hands the car back and walks away, or, pays the £43k and keeps it if he feels the market value is higher.
Chipper
If its a loan with a balloon payment, is the buyer misuderstanding what the £43k figure means ?
ps. I'd be happy to afford the deposit on one, let alone the purchase & running costs !
Edited by Vee on Thursday 12th June 14:21
I was chatting to a 'prestige marque' dealer principal some weeks ago and was informed in no uncertain terms that sales were on their arse.
Buying cars as an investment has rarely been viable, now less so than ever.
However, as Von Belleair302 implies, puntage therein during the near future as an exercise in outrageous, hoonfilling utility, seems more and more interesting.
There are medium miled (circa 70k) S600Ls now orbiting Planet Punt at sub £18k. That's a £100k car 4-5 years ago with every conceivable gimmick (including radar guided cruise) and a mammoth, 5.5 V12 biturbo ready to unleash hell.
When you think that an Alpina B10 V8S recently sold for £25k (at 50k on ze odo) and these kind of E60 M5s are soon to be selling for just five nags more, well, it's just plain wrong.
It's like eating a deep pan 'meat feast' on the banks of The Tiber watching Rome burn.
Buying cars as an investment has rarely been viable, now less so than ever.
However, as Von Belleair302 implies, puntage therein during the near future as an exercise in outrageous, hoonfilling utility, seems more and more interesting.
There are medium miled (circa 70k) S600Ls now orbiting Planet Punt at sub £18k. That's a £100k car 4-5 years ago with every conceivable gimmick (including radar guided cruise) and a mammoth, 5.5 V12 biturbo ready to unleash hell.
When you think that an Alpina B10 V8S recently sold for £25k (at 50k on ze odo) and these kind of E60 M5s are soon to be selling for just five nags more, well, it's just plain wrong.
It's like eating a deep pan 'meat feast' on the banks of The Tiber watching Rome burn.
I recently bought mint very low mileage E39 M5 for a very good price, for the reason people are staying away from petrol eating cars atm as everyone has said. But I bought it to keep.
Fuel has sky rocketed before, and it always came down in the end, due to the law of economics supply/demand. If we have a global recession which looks like it is on the cards, demand for oil will reduce. The days of cheap petrol are behind us (though in Europe it was never cheap), but I think it will return to a reasonable level compared to wages at some point (OPEC can't hold the rest of the world to ranson for ever). But that looks highly unlikely in the short term.
A friend that used to work for an Audi dealer was telling me that their years supply of RS6's have already been sold, which I would say a high proportion of them are company cars.
Fuel has sky rocketed before, and it always came down in the end, due to the law of economics supply/demand. If we have a global recession which looks like it is on the cards, demand for oil will reduce. The days of cheap petrol are behind us (though in Europe it was never cheap), but I think it will return to a reasonable level compared to wages at some point (OPEC can't hold the rest of the world to ranson for ever). But that looks highly unlikely in the short term.
A friend that used to work for an Audi dealer was telling me that their years supply of RS6's have already been sold, which I would say a high proportion of them are company cars.
derestrictor said:
Buying cars as an investment has rarely been viable, now less so than ever.
Hi dr,Actually I tend to hold the opposite view but on the basis of a (very) long term outlook, and providing one picks the right motor.
True, in the short term, the buyer of a modern starship packed with computer gadgetry, fancy diff and titanic power plant is going to get well and truly mullered.
But pick a recent icon car, with provenance or breeding of some kind (homologation special, maybe?), preferably drop dead gorgeous (or perhaps bold and striking rather than beautiful), and in the current climate you have the opportunity to purchase relatively cheaply. Keep it in perfect nick, go to sleep for 20 years, then sell.
At least, that's my story and I'm sticking to it.
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