2 owners in 6 months... resale affected?

S

sapphire_nick

Member
Hi all

I am finally going up to Harry Fairbairn in Glasgow tomorrow to collect my new z4 coupe sport. I had already attempted to collect it last week but could not as the car was stuck on the second floor of the dealers due to a broken car lift.... ANYWAY....

When I was at the dealership, the salesman completed the V5 form for me and posted it off. It was not until today that I discovered that the car had two previous owners (when I received the V5 from the DVLA).

I called the dealer and quizzed him as I already asked about the previous owners and he had told me that BMW had owned the car as a manager's car from new... Anyway after speaking to the dealer and then verifying it with BMW customer services by telephone, the car was owned by BMW management at the head office from June O7 until January 08 and then by the dealer in Glasgow for a couple of weeks. Basically the dealer bought the car from the BMW Group and the manager fancied driving it and so he registered it under the dealership for one month. Now in doing so they have made the car a 2 previous owner car... The car was only registered in June 2007 - would this adversely affect the car's value?

I am a bit stuck now, I don't want to pull out of the purchase as I like the car so much and it is pretty much fully loaded with extras and I have bought plane tickets to Glasgow, but at the same time I want to be sure the car is worth it. The asking price was £30k, but I negotiated to £29k - given what has happened, what does anyone think would be an appropriate discount as the car has had two owners and not one?

Be interested to hear what people think.

All the best
Nick
 
Congrats Nick! :thumbsup:

Disclaimer before you read my opinion: The opinions expressed by this poster may be completely wrong. Use at your own discretion.

Nick, the fact that it had two previous owners doesn't matter (to you). What matters is the price of that particular car is "worth" book value; that mileage and overall condition is valued the same as other cars like it.

True, if the car had two previous owners and you were trying to sell it to a dealership, or trade it in, they would take every opportunity to screw you. But since you are on the buying end of the deal, it doesn't matter.

Just make sure it's covered under warranty (and that you even have a third party check it out before you sign documents). If they know you're flying over there to get the car, they may feel more comfortable handing over a lemon than if you lived around the corner.

Hope this opinion helps and good luck!!!
 
Nick - the Z4 I bought was also a "one owner" car and the logbook never came through until about 6 weeks after I bought it, because it had a private plate on. When it did come through, the car was a pre-reg with the supplying dealer owning it for 6 days or something, then someone else for 7 months, then me. I was a bit miffed about it at the time, me being the 3rd owner in 7 months.

Anyway, when I came to selling it, I'm pretty sure having 3 owners in 24 months was putting people off in a private sale, so I eventually sold it to a dealer for a pretty fair price, and he wasn't really bothered at all about the car having 3 owners, and I don't think I would have got anything more if it had been a one owners car or anything, but maybe I would have had more interest privately. PVR sold his (pretty similar specced) car privately, that was 8 months older than mine, and for more money, as his was a low mileage one owner car.

It will stand against you in a private sale, if you're trading it I doubt it will make any difference at all.
 
Wondermike said:
It will stand against you in a private sale, if you're trading it I doubt it will make any difference at all.
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Ditto, I would be of same opinion. Think about it, if you were looking privately to buy an expensive sports car would too many previous owners put you off? For me, it would if the cars were the same price.

Do you have a copy of any advert or anything saying that it was one owner? If so, (again, my own opinion here) then it may constitute misrepresentation, if an actually deposit has been paid by you then possible breach of contract.

Work out what you think the extra owner detracts from a £29k purchase come your resale time and negotiate. You know the cars history now, a potential buyer later on when you sell will not know.

IMHO £500 would be my starting block as this is the amount of saving I would look for when privately viewing a 2yr old car with 3 owners compared with 2.
 
Wondermike said:
PVR sold his (pretty similar specced) car privately, that was 8 months older than mine, and for more money, as his was a low mileage one owner car.
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But you are not bitter about that :D
 
I guess you can argue this one every which way but for a private sale the less previous owners the better, therefore in any decision more is a negative in the process. The longer it goes until you sell the more acceptable a higher number is.

You now have a 9 month old 3 owner car. That would not sound good to me as a potential buyer

Personally I'd go back to the dealer and demand a financial adjustment, not carry this story with you for the entire ownership period. I'd be after £500 Min off or walk and find another car. I'd be surprised if they lost the sale in such a market.
 
I wouldn't let it concern you too much. The dealership will have a photocopy of the V5C as it was prior to you being a registered keeper.
Grab a copy of this and you can show the next prospective purchaser what the situation was with regard to the early multiple ownership by BMW management and dealer and the time frame involved.
If you keep the car for a couple of years it will be irrelevant anyway. I'm sure if you express your dissatisfaction with the fibs the salesperson told (mentioning the steering wheel as well) they will be inclined to give you somthing FOC in order to smooth things over before the Customer Satisfaction people 'phone you, post handover.

The Z4 I had was owned by the dealership at first and I used that to my advantage when selling it, mentioning the unique high spec' such cars generally have.

Go and get the car you deserve and enjoy it. :D Life's too short etc.......... :thumbsup:
 
pvr said:
Wondermike said:
PVR sold his (pretty similar specced) car privately, that was 8 months older than mine, and for more money, as his was a low mileage one owner car.
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But you are not bitter about that :D
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:evil: no not bitter at all :guns:

Just shows though, and we both mentioned this in a thread last week, that the right car at the right price will always find a buyer, even in a private sale and for quite considerable sums of money too.
 
Nick C said:
...Life's too short etc.......... :thumbsup:
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Yep agreed, when it happened to me there wasn't a similarly specced car around that I wanted, plus I had already fallen in love with the car :wub: so no point worrying about it.
 
Hi all

Thanks so much for the advice - hugely appreciate it.
I did actually collect the car in the end. They would not make a financial adjustment and frankly, I decided I just wanted to drive away. The original asking price was actually £30k and I hammered them down to £29k and then negotiated that steering wheel controls and cup holders would be fitted and they did all of this.

What they did arrange for was a free service at any BMW dealership when I need my first service, so I decided that was fair enough. I will use it to my advantage that the car has lots of extras but in the scheme of things I do plan to keep the car for a few years. I never change cars quickly.

I ABSOLUTELY love it. I used to drive a Corrado VR6 and thought the world of it, but now I am in an altogether wonderful car!!! :driving:

Thanks again! :thumbsup:
 
sapphire_nick said:
Hi all

Thanks so much for the advice - hugely appreciate it.
I did actually collect the car in the end. They would not make a financial adjustment and frankly, I decided I just wanted to drive away. The original asking price was actually £30k and I hammered them down to £29k and then negotiated that steering wheel controls and cup holders would be fitted and they did all of this.

What they did arrange for was a free service at any BMW dealership when I need my first service, so I decided that was fair enough. I will use it to my advantage that the car has lots of extras but in the scheme of things I do plan to keep the car for a few years. I never change cars quickly.

I ABSOLUTELY love it. I used to drive a Corrado VR6 and thought the world of it, but now I am in an altogether wonderful car!!! :driving:

Thanks again! :thumbsup:
Click to expand...
Great news Nick, enjoy it :thumbsup:
 
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