My car is worth £2K?

Twenty2Three · 02-11-2017, 04:04 PM

As the proud owner of a high mileage 328i with an approx trade in value of less than 10K
It got me thinking what is the base value after all the extras have over a bog standard 328i
Heated electric leather seats £2K?
Professional Navigation £2K?
Xenon lights £1K
Sports Auto £2K?
Reversing camera £500
Heated Wheel £150
Anthacite and extended lighting makes it just short of £8K
Those online valuations are a joke
Any thoughts?

Kal101 · 02-11-2017, 04:21 PM

Very little.

All those essential extras that we spec on and that the salesman tells us we must have to make our cars more saleable come resell time are worth virtually Bugger all when it cones to trade in time.

However wheN the dealers selling your ex car Its worth a lot more than a base car as it's got shed loads of extras.

Get the idea.

robbiep · 02-11-2017, 04:46 PM

I've no idea why on earth you seem to think the optional extras you put on the car would not depreciate - at least as fast as the rest of the car, if not faster.

Basically, they add a small amount of value - maybe £1-2k. More to the point, if you were privately selling your car, they make your car more desirable than a lower-spec but otherwise similar car, meaning you're less likely to get chipped on a (realistic) asking price, whereas Joe Bloggs with his bog spec car is going to have to price it right at the bottom, and then get hammered down further.

HighlandPete · 02-11-2017, 05:02 PM

I agree on easier to sell, with options. Two similar condition cars side by side, the one with extras will sale much easier, for a few more notes. Many used car buyers expect lots of options, or walk away. Used car buyers typically get the best value out of expensive options.

On the subject of options, we buy them for ourselves, not so much for the next user. If we don't keep a car for too long, we pay heavy.

Twenty2Three · 02-11-2017, 05:03 PM

Just thinking what the value was over bog standard... seems a couple of grand tops
Yet £8K extras!

HighlandPete · 02-11-2017, 05:10 PM

Quote:

Originally Posted by Three28iman

Just thinking what the value was over bog standard... seems a couple of grand tops
Yet £8K extras!

It is one of the reasons I kept my 330d for over six years, to get value out of the options.

Present car felt good buying nearly new and getting over £15k's worth of options, for a couple of grand more than a similar car with minimum extras.

AndyEssex330d · 02-11-2017, 05:14 PM

Quote:

Originally Posted by Three28iman

Just thinking what the value was over bog standard... seems a couple of grand tops
Yet £8K extras!

Yes but £8k extras minus depreciation of around, because they're extras, 75%? Maybe more, So that leaves £2k. So I'd say a base version of yours is worth a couple of grand less than your valuation, so maybe £8k and not £2k.

robwils · 02-12-2017, 01:43 AM

Quote:

Originally Posted by Kal027

Very little.

All those essential extras that we spec on and that the salesman tells us we must have to make our cars more saleable come resell time are worth virtually Bugger all when it cones to trade in time.

However wheN the dealers selling your ex car Its worth a lot more than a base car as it's got shed loads of extras.

Get the idea.

Yes this ^. Which is why instead of trading up When the time comes I'm thinking of getting a second (weekend fun) car with the money it would cost.

Tengocity · 02-12-2017, 03:21 AM

Quote:

Originally Posted by robwils

Quote:

Originally Posted by Kal027

Very little.

All those essential extras that we spec on and that the salesman tells us we must have to make our cars more saleable come resell time are worth virtually Bugger all when it cones to trade in time.

However wheN the dealers selling your ex car Its worth a lot more than a base car as it's got shed loads of extras.

Get the idea.

Yes this ^. Which is why instead of trading up When the time comes I'm thinking of getting a second (weekend fun) car with the money it would cost.

It's definitely the sensible thing to do. An extended warranty on a car losing a couple of thousand per year is much less expensive than a car costing 5-6k per year in monthly payments.

gr4z · 02-12-2017, 03:32 AM

Cars are just a huge waste of money. End of

We love em so we waste the cash. Unfortunately that is just the way it is. Keep them as long as you can or need to and as others have said buy a fun weekend car for a blast.

XK140 · 02-12-2017, 08:58 AM

I've just bought two new cars in the last 6 months,one for the wife and the M140i for me...I really am so silly.

I realised long ago the correct way was to buy a high spec, low miles 3 year old and keep it for a further 3 years.
The ideal compromise between an old banger and a new car that will cost you loads in depreciation.

Ah well,the best laid plans,etc.....and there's always YOLO to consider.

Kal101 · 02-12-2017, 10:00 AM

Bottom line is /the way I look at it

I got the car for me. I paid for the extras I wanted got me. Didn't get those i didn't want at the time (spec regret some). I will drive the car for 4 years or so then decide whether to keep or trade up.

If I keep I will retro fit the bits I wanted where I can . If something breaks I will upgrade.

Enjoy your car and worry about depreciation in a few years time.

02-11-2017, 04:04 PM	#1
Twenty2Three Lieutenant 209 Rep 520 Posts Drives: BMW 328i M Sport Join Date: Jul 2015 Location: Rochdale iTrader: (0)	My car is worth £2K? As the proud owner of a high mileage 328i with an approx trade in value of less than 10K It got me thinking what is the base value after all the extras have over a bog standard 328i Heated electric leather seats £2K? Professional Navigation £2K? Xenon lights £1K Sports Auto £2K? Reversing camera £500 Heated Wheel £150 Anthacite and extended lighting makes it just short of £8K Those online valuations are a joke Any thoughts?
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02-11-2017, 04:21 PM	#2
Kal101 Major General 3105 Rep 7,034 Posts Drives: 335xd Msport + Join Date: Jan 2014 Location: West mids!!!! iTrader: (0) Garage List 2015 Bmw msport + 3 ... [0.00]	Very little. All those essential extras that we spec on and that the salesman tells us we must have to make our cars more saleable come resell time are worth virtually Bugger all when it cones to trade in time. However wheN the dealers selling your ex car Its worth a lot more than a base car as it's got shed loads of extras. Get the idea. __________________
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02-11-2017, 04:46 PM	#3
robbiep Brigadier General 1983 Rep 3,216 Posts Drives: VW e-Golf ! Join Date: Dec 2013 Location: North Wales, UK iTrader: (0)	I've no idea why on earth you seem to think the optional extras you put on the car would not depreciate - at least as fast as the rest of the car, if not faster. Basically, they add a small amount of value - maybe £1-2k. More to the point, if you were privately selling your car, they make your car more desirable than a lower-spec but otherwise similar car, meaning you're less likely to get chipped on a (realistic) asking price, whereas Joe Bloggs with his bog spec car is going to have to price it right at the bottom, and then get hammered down further.
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02-11-2017, 05:02 PM	#4
HighlandPete Lieutenant General 6659 Rep 15,858 Posts Drives: BMW F11 535i Touring Join Date: Mar 2007 Location: Scotland, Highland Region iTrader: (0)	I agree on easier to sell, with options. Two similar condition cars side by side, the one with extras will sale much easier, for a few more notes. Many used car buyers expect lots of options, or walk away. Used car buyers typically get the best value out of expensive options. On the subject of options, we buy them for ourselves, not so much for the next user. If we don't keep a car for too long, we pay heavy.
	Appreciate 0 Quote

02-11-2017, 05:03 PM	#5
Twenty2Three Lieutenant 209 Rep 520 Posts Drives: BMW 328i M Sport Join Date: Jul 2015 Location: Rochdale iTrader: (0)	Just thinking what the value was over bog standard... seems a couple of grand tops Yet £8K extras!
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02-12-2017, 03:32 AM	#10
gr4z Colonel 1137 Rep 2,808 Posts Drives: i4 e40 Join Date: May 2008 Location: Stamford iTrader: (0)	Cars are just a huge waste of money. End of We love em so we waste the cash. Unfortunately that is just the way it is. Keep them as long as you can or need to and as others have said buy a fun weekend car for a blast. __________________ Current: G26 i4 M Sport Pro, Tech Pk, Sunroof Previous: 2016 440i MPPSK, 2014 330d Saloon F30, 2013 Audi S4 Avant, 2011 Mercedes C350
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02-12-2017, 08:58 AM	#11
XK140 First Lieutenant 130 Rep 358 Posts Drives: SEAT Leon Cupra Carbon/GT86 Join Date: May 2016 Location: Chesterfield iTrader: (0)	I've just bought two new cars in the last 6 months,one for the wife and the M140i for me...I really am so silly. I realised long ago the correct way was to buy a high spec, low miles 3 year old and keep it for a further 3 years. The ideal compromise between an old banger and a new car that will cost you loads in depreciation. Ah well,the best laid plans,etc.....and there's always YOLO to consider.
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02-12-2017, 10:00 AM	#12
Kal101 Major General 3105 Rep 7,034 Posts Drives: 335xd Msport + Join Date: Jan 2014 Location: West mids!!!! iTrader: (0) Garage List 2015 Bmw msport + 3 ... [0.00]	Bottom line is /the way I look at it I got the car for me. I paid for the extras I wanted got me. Didn't get those i didn't want at the time (spec regret some). I will drive the car for 4 years or so then decide whether to keep or trade up. If I keep I will retro fit the bits I wanted where I can . If something breaks I will upgrade. Enjoy your car and worry about depreciation in a few years time. __________________
	Appreciate 0 Quote