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My Poor 220d, Only Worth £9k


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Don't want to depress everybody in the run-up to Xmas, but here goes anyway.

I've been looking at replacing my IS 220d SE with a BM 125i Coupe, and got a shock. Went down the local BM dealer today, borrowed the Coupe for the day, got back there about 4pm and started negotiating.

Well, wanted to start negotiating, except the chappie came straight to the point and said he could only offer £9k for my IS. 9K!!!!! :crybaby: The car is in near mint condition, no scrapes on alloys, only 19,300 miles, 06 reg March 2006, parking sensors, FSH etc. Glass's says it's worth around £12k, but apparently book means nothing at the moment.

He said the market was in freefall and only one of his contacts even wanted to make a proper offer. He p!ssed me off a bit by saying that if it had MM it would sell for a lot more, but he's trying to sell me an ex-management BM also without SatNav - but of course BMs don't need SatNav to keep their value... :angry:

Looks like I'll be taking the IS into warranty-expired territory - wish me luck!!!

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I know :shutit: I had the same problem recently they only wanted to offer me 8.5K for a 06 SEL with MM although it had 65k on the clock i still managed to push it to 10K just bear that in mind

Scary thought when i paid 15K for it 8 Months earlier :shutit: :shutit: :crybaby::unsure:

Don't want to depress everybody in the run-up to Xmas, but here goes anyway.

I've been looking at replacing my IS 220d SE with a BM 125i Coupe, and got a shock. Went down the local BM dealer today, borrowed the Coupe for the day, got back there about 4pm and started negotiating.

Well, wanted to start negotiating, except the chappie came straight to the point and said he could only offer £9k for my IS. 9K!!!!! :crybaby: The car is in near mint condition, no scrapes on alloys, only 19,300 miles, 06 reg March 2006, parking sensors, FSH etc. Glass's says it's worth around £12k, but apparently book means nothing at the moment.

He said the market was in freefall and only one of his contacts even wanted to make a proper offer. He p!ssed me off a bit by saying that if it had MM it would sell for a lot more, but he's trying to sell me an ex-management BM also without SatNav - but of course BMs don't need SatNav to keep their value... :angry:

Looks like I'll be taking the IS into warranty-expired territory - wish me luck!!!

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Don't want to depress everybody in the run-up to Xmas, but here goes anyway.

I've been looking at replacing my IS 220d SE with a BM 125i Coupe, and got a shock. Went down the local BM dealer today, borrowed the Coupe for the day, got back there about 4pm and started negotiating.

Well, wanted to start negotiating, except the chappie came straight to the point and said he could only offer £9k for my IS. 9K!!!!! :crybaby: The car is in near mint condition, no scrapes on alloys, only 19,300 miles, 06 reg March 2006, parking sensors, FSH etc. Glass's says it's worth around £12k, but apparently book means nothing at the moment.

He said the market was in freefall and only one of his contacts even wanted to make a proper offer. He p!ssed me off a bit by saying that if it had MM it would sell for a lot more, but he's trying to sell me an ex-management BM also without SatNav - but of course BMs don't need SatNav to keep their value... :angry:

Looks like I'll be taking the IS into warranty-expired territory - wish me luck!!!

Just take the 3k off the price of the BMW :D then look at his face, tell him its buyers market :winky:

I love car dealers :winky:

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But what was your all important 'cost to change' mate?

That is what it is all about as no matter what price offered for your car and the asking price for the other car, it is all about cost to change for people in your situation - was it acceptable to you? If so then I'd suggest you shouldn't worry about the price offered for yours as it is immaterial.

I think the perception with a Lexus is that as they come 'fully loaded' people expect such niceties (as MM) to be present. Whereas with a BMW, you have to cost every option and people seem to be more tolerant of such cars without options. Now I'm not one of them - but I guess its all about perception.

But having said that, the attitude of BMW dealers doesn't seem to have caught up with market realities IMHO - and I hope many end up closing their doors permanently.

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But what was your all important 'cost to change' mate?

That is what it is all about as no matter what price offered for your car and the asking price for the other car, it is all about cost to change for people in your situation - was it acceptable to you? If so then I'd suggest you shouldn't worry about the price offered for yours as it is immaterial.

I think the perception with a Lexus is that as they come 'fully loaded' people expect such niceties (as MM) to be present. Whereas with a BMW, you have to cost every option and people seem to be more tolerant of such cars without options. Now I'm not one of them - but I guess its all about perception.

But having said that, the attitude of BMW dealers doesn't seem to have caught up with market realities IMHO - and I hope many end up closing their doors permanently.

OK, the list price for the 125i with options to bring it up to Lexus-standard is £29,300. The dealer's first offer was £27,500. With £9k for my Lexus that leaves £18,500 to pay. I was looking to change for around £16,000, which would be completely do-able if the second-hand car market hadn't jumped out a top floor window...

The dealer suggested a private sale, but I can't face people coming round in the dark, driving my car with no insurance, planning to dump me on the road-side at knife-point...

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OK, the list price for the 125i with options to bring it up to Lexus-standard is £29,300. The dealer's first offer was £27,500. With £9k for my Lexus that leaves £18,500 to pay. I was looking to change for around £16,000, which would be completely do-able if the second-hand car market hadn't jumped out a top floor window...

I'm pretty sure all dealers are having the same problems now, just tell him you want the car, you want to do the deal, but you can only pay £16k to change.

Then wait till he calls you back to go ahead once he realises he isn't going to make any other sales...........

And in the current market place it really is worth going to 2 or 3 more dealers and putting the same offer on the table - some dealerships will have lower sales than others, so will be more desperate to make it happen.

Slightly off topic, but are you really going to pay £30k for a 1 series? If you plan to change it in two years again, you're really going to feel the depreciation hit again, and much harder :unsure:

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Steve, yes I did, but it transpired that he wouldn't actually agree to commit to take the IS off my hands until Jan anyway - "need the market to settle down a bit".

Parthiban, to spec a 325i Coupe the same as the 125i Coupe I want to buy would cost an extra £6.5k. Plus the fact that the 3 coupe really isn't my cup of tea. I much prefer the upright look of the 1 coupe, just like the original 2002. The only item that really pushes up the price is the Professional SatNav system at £1,900. But I'm determined that my next car will have SatNav! (Even if it's another IS). I tend to keep cars for 3 years, as I've been stung at 3.5 years with a big bill before.

BTW, you're absolutely right about shopping around - I plan to go to another BM dealer to find out what their best deal is. The only prob is that it's so time consuming! I'd rather be having a life...

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Steve, yes I did, but it transpired that he wouldn't actually agree to commit to take the IS off my hands until Jan anyway - "need the market to settle down a bit".

Parthiban, to spec a 325i Coupe the same as the 125i Coupe I want to buy would cost an extra £6.5k. Plus the fact that the 3 coupe really isn't my cup of tea. I much prefer the upright look of the 1 coupe, just like the original 2002. The only item that really pushes up the price is the Professional SatNav system at £1,900. But I'm determined that my next car will have SatNav! (Even if it's another IS). I tend to keep cars for 3 years, as I've been stung at 3.5 years with a big bill before.

BTW, you're absolutely right about shopping around - I plan to go to another BM dealer to find out what their best deal is. The only prob is that it's so time consuming! I'd rather be having a life...

It isn't just the recession that has hit the 220. The bad press has affected used values too. I traded mine before the recession started to hit hard and was lucky to get £12k for a 56 plate with 14k miles. The car lost over £5k in the eight months I owned it.

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I would have suggested that your cost to change is achievable - especially in this market with you buying factory new. I would strongly suggest you look at other BMW Dealers as I am surprised they'd let someone wanting to buy factory new walk. The other alternative might be for you to see what stock cars they hold in inventory around your spec. as this is where you'd get a better deal than a fresh factory order.

But I think the 220d has a seriously poor reputation and that is hurting you; but still, I would have thought this is a do-able deal...

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my neighbor is a motor trader and was telling me that he is reluctant to buy anything at the present time because values are still falling.don't beleive that this is a lexus specific problem as it is not.dealers will insult you with poor offers for your car regardless of marque,as has been mentioned it's he price to change that matters.if you cannot negotiate the deal of the century at the present time then you never will.

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We recently change our 325d M sport for a 2.0Tfsi TT in white.

Now the 325d seemed the right spec to me, met black, 18" MV 3's and M sport pack, we paid £24K for it 1 year old with 1800 miles on, that was £8K less than new and thought we got a good deal, 8 month later the trade would only give between £16-17.5K.

My dad has also just traded his 07 07 318 4dr SE, 8K miles, never goes out in the wet etc mint car for a 520d SE and had to put £13K to change in, this meant he only got £10.5K for a car that cost him £22K 18 months ago.

So this nothing to do with Lexus!! or the 220d and there is no way I would pay £28K for a 125 coupe, not when you consider the hit you will take as I think the 1 coupe is a love or hate car and if it is not the right engine i.e 2.0d or 2.0d 2xturbo or 3.0 petrol 2xturbo it will fall the fate of my 325d.....if only it was a 3.0d....auto....had leather.....had nav...was a 2dr etc etc

I appreciate the the 125 coupe may seem attractive but consider it closely, even push to go for the 135 or the 123d if you really must have one

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We recently change our 325d M sport for a 2.0Tfsi TT in white.

Now the 325d seemed the right spec to me, met black, 18" MV 3's and M sport pack, we paid £24K for it 1 year old with 1800 miles on, that was £8K less than new and thought we got a good deal, 8 month later the trade would only give between £16-17.5K.

My dad has also just traded his 07 07 318 4dr SE, 8K miles, never goes out in the wet etc mint car for a 520d SE and had to put £13K to change in, this meant he only got £10.5K for a car that cost him £22K 18 months ago.

So this nothing to do with Lexus!! or the 220d and there is no way I would pay £28K for a 125 coupe, not when you consider the hit you will take as I think the 1 coupe is a love or hate car and if it is not the right engine i.e 2.0d or 2.0d 2xturbo or 3.0 petrol 2xturbo it will fall the fate of my 325d.....if only it was a 3.0d....auto....had leather.....had nav...was a 2dr etc etc

I appreciate the the 125 coupe may seem attractive but consider it closely, even push to go for the 135 or the 123d if you really must have one

no disrepect but can i ask why your dad decided to take such a hit on changing his car... :question:

No wonder the OP was offered pittance when seemingly there are people ready to give away mint,low mileage motors.

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I'd get a used 130i M Sport and save a fortune. Quicker too I suspect?

I didn't think there was a 130 Coupe, only a 135 - but that one is an actual rocket :winky:

No you're right the 130i M Sport is in hatchback form, but unless you really liked the style of the 1 coupe I'd say the 130 is the better car all round, there seems to be a few good ones around for 15-16k, and they're more practical than the coupe too.

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My dad has also just traded his 07 07 318 4dr SE, 8K miles, never goes out in the wet etc mint car for a 520d SE and had to put £13K to change in, this meant he only got £10.5K for a car that cost him £22K 18 months ago.

no disrepect but can i ask why your dad decided to take such a hit on changing his car... :question:

No wonder the OP was offered pittance when seemingly there are people ready to give away mint,low mileage motors.

Not sure which is the more criminal - charging near 22K for a '318' (and having someone pay that kind of money) or spending that kind of money so freely and so soon...

Still, without people like this, people like me couldn't afford to buy these types of cars second hand - not that I'd ever buy a 4 cylinder BMW - 6 cylinders all the way :)

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To be fair, it doesn't seem a terrible price...

which is great for me, considering I bought an Oct 06 220D SE-L with multimedia and 30k miles this week for £12,600

:D

Not so good for you, though, but if that's the current selling price for an SE-L with MM, then it's probably 1k+ less for your older less specced car.

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I have a problem too.

I have been looking sell mine, on line it says £12000, but a Merc Dealer has offered £10250 if I take delivery before end of December on new C 200 Sport Auto, Command and Parktronic (9% off RRP), or £10000 against BMW 320i Sport with Media pack (10% off RRP), and £9250 against Audi A4 2.0 S line Quattro with DVD nav (6.5% off). They all say the same and Lexus will not shift easily into 2nd hand market. Why is this?

I paid lot for my car 12 months ago. I paid £22000!

So now I am to stay with Lexus, not because I want to, becasue I have to!!!!!!!!!!!!!!!!!!!!!!!!!!

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i have always paid cash for my cars, until this i bought the lexus which i did on a pcp and am i glad i did my payments are £300 per month and i am at a point now where i can return the car with nothing more to pay and walk away.

i should think i have saved around 6k by doing the pcp and not buying the car outright and suffering with the depreciation.

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Everything depeciates in a recession

and that is the gamble, we Buy cars & Houses when it is going great,

but then complain when the markets crash,

maybe we should do the reverse logic and Buy everything now

and encourage the market to grow, then when it gets great again

stash all your money in a bank account and make loads.

:offtopic: but maybe not

Why do we let the Media talk us in a recession ??

all you here from ITN/TVAM is doom and Gloom

Maybe we should all turn the TV off from News channels

Matt

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:offtopic: but maybe not

Why do we let the Media talk us in a recession ??

all you here from ITN/TVAM is doom and Gloom

Maybe we should all turn the TV off from News channels

Matt

I tend to take the opposite view. The endless ramping of the economy by the media for the last 10 years coupled with the property porn TV phenomenon and crazy access to near limitless credit has inevitably driven the economy off the rails.

It's like the morning after the the biggest party in human history.

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Take some comfort from the fact that Car Magazine has just completed 3 Long-Term Tests on a Mini,Bmw 3-litre coupe & an Audi All-Road.Residual values after just 12mnths. range between 40-60%!

Tel

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When i picked up my new car last week i was talking to the chap at my local Mercedes dealership and he was saying they have taken an approach of listing there cars at near rock bottom prices with minimal room for negotiation as they would rather be turning over cars with a small profit than having cars sat on the forecourt for months.

I'm not sure how much of a white lie he was telling, but to be fair they had a lot of cars marked as sold and when i went in the back to sign the paperwork, the salesmens charts of cars sold was really brimming.

So it looks like their policy is working

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When i picked up my new car last week i was talking to the chap at my local Mercedes dealership and he was saying they have taken an approach of listing there cars at near rock bottom prices with minimal room for negotiation as they would rather be turning over cars with a small profit than having cars sat on the forecourt for months.

I'm not sure how much of a white lie he was telling, but to be fair they had a lot of cars marked as sold and when i went in the back to sign the paperwork, the salesmens charts of cars sold was really brimming.

So it looks like their policy is working

Cars are just a commodity traded between buyers and sellers. Artificially inflating prices when there are insufficient buyers to mop up the supply will just result in stock sitting on forecourts. Dealers need turnover, so they have to find the price point that balances buyers and sellers. It doesn't matter how dire the market is - if the price is right the turnover will happen.

I think it's what my brother (who works in derivatives) calls 'price discovery'. It can be a pretty scary experience for people who thought their assets were worth more than they actually are. But it's a vital part of keeping the market 'liquid'.

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