G29 prices going south too?

[B21]

I see the first of the M40i are approaching 30k.. with 85 for sale on AT

I know its winter but the shine seems to be coming off the market..

Maybe there are a few folks who must have a brand new one, come what may...

Or have I got it wrong?

Wonder proportionately how that relates to the E85/E89 sub markets..seems like Alpinas are not immune either?

 

[q96169we]

My take on this is that during the past two years, other regular/popular cars were in high demand but low supply whereas dealers usually had G29 sitting in the showroom. Thus, many people, whose pcp end and keen to get a new car to avoid having no car situation, had to get whatever car (in this case G29) was available in the showroom. But obviously, G29 may not suitable for them or they don't like such unpopular car. Consequently, they try to get rid of G29 as soon as other popular cars/suv become available to them.
I don't think this will have big impact to e89's price. But for G29 owner, it will certainly have negative impact if anyone wants to sell it.

 

[BigDave]

Looks like a supply and demand thing..

More choice = price drop..

I think the G29 is a very underrated car,,, but then again i would, being an owner..

 

[tiglon]

I think it's most sportscars having a bit of a correction. More people selling their toys to free up cash, fewer people willing to sink that much cash into a new toy.

Lots of leased/PCP G29s on the second hand market now the model is 4 years old.

Plus it's not an electric SUV, so nobody wants one...

 

[Pondy]

I think it's most sportscars having a bit of a correction.

ALL cars have had this over the past few months, as the prices in 2021/22 went stupid so something had to give!
BUT:
The average price of a 2019 M40i on AT is around £36k. That is still £11k more than it should be for a nearly 4 year old car.

Rule of thumb always used to be 50% depreciation after 3 years, then 50% of that after 6, and so on until they got down to a few grand then stopped. That was for 'average' cars; niche market and very expensive cars were much worse (look at how much a 2000 7 series or S500 used to depreciate for example).

I can't help but think of this when people come on here saying that a 12 year old 'average' E89 is good value at ONLY £12k, or an 18 year old E85 is fantastic value at £9k with ONLY 100k miles on it.
It's still madness, just slightly less than this time last year.

 

[ori]

I had noticed price drop. Partly due to winter and partly due to the second hand market coming back into normality.

We steal any car have offered me 34k for my car. It’s 14 months old. Purchase price new was 49k. No idea what it would be on a private sale, but I estimate 37k.

I’m not selling so not relevant really.

 

[tiglon]

I think it's most sportscars having a bit of a correction.

ALL cars have had this over the past few months, as the prices in 2021/22 went stupid so something had to give!
BUT:
The average price of a 2019 M40i on AT is around £36k. That is still £11k more than it should be for a nearly 4 year old car.

Rule of thumb always used to be 50% depreciation after 3 years, then 50% of that after 6, and so on until they got down to a few grand then stopped. That was for 'average' cars; niche market and very expensive cars were much worse (look at how much a 2000 7 series or S500 used to depreciate for example).

I can't help but think of this when people come on here saying that a 12 year old 'average' E89 is good value at ONLY £12k, or an 18 year old E85 is fantastic value at £9k with ONLY 100k miles on it.
It's still madness, just slightly less than this time last year.

Agree with you in general, I'm sure a used M40i was about £35k back in 2020, with fewer than 10k miles.

That said, my Focus is still (if you go by AT) worth the same as a year ago, even though it's got an extra 15k miles on the clock. Reasonably priced, but still under 10 years old, practical cars don't seem to be dropping, certainly not like sports cars. I would guess that demand for them is, if anything, increasing right now. On the other hand, fewer people have as big a big wedge of disposal income as they did when we jumped out of the last lockdown, so sports cars are less sought after.

 

[Nanu]

Time of year and financial situation at this time, it's not unexpected. It's all relevant though as cost to change will be about the same as long as your not buying new. Something I never do

 

[deltasierra]

The E85 is cracking value they are fun, look like a sports car and go really well, any well maintained 6 cyl cannot be beaten for value.

 

[Mr Tidy]

Before Covid and chip shortages new cars, especially with bigger engines, always shed loads of value in their first few years.

Maybe the market is just heading back towards that reality?

 

[Roadster_Surrey]

I have AT search on 2.0 model and checked other models couple of days ago and I would say the cheapest cars by models are:
-£25K for 20
-£30K for 30
-£35 for M40

Other convertibles I'm watching, are not going down in price. SLK55 is more expensive than it was in 2018 and cars are 5y older now. Abarth 124 Spider is also holding prices after they went up in 2021.

 

[ronk]

Nov '21 my 35is to change to a full spec M40i was going to be £25K - Then about a year later in Oct '22 when I was in a dealership - It was going to be £38k to change

So because used M40i (and probably other G29) seem to be dropping and new models going North Its just not going to happen with me.

 

[Nanu]

Nov '21 my 35is to change to a full spec M40i was going to be £25K - Then about a year later in Oct '22 when I was in a dealership - It was going to be £38k to change

So because used M40i (and probably other G29) seem to be dropping and new models going North Its just not going to happen with me.

Ex demo or less than a year old is the way to go. Let someone else take the hit and VAT

 

[Mr Tidy]

Ex demo or less than a year old is the way to go. Let someone else take the hit and VAT

ronks E89 is virtually ex-demo! :lol:

But buying that way is a good plan if you aren't too bothered about colours and options. I saved thousands when I bought my pre-registered 1 Series with less than 20 miles recorded!

 

[mr wilks]

Before Covid and chip shortages new cars, especially with bigger engines, always shed loads of value in their first few years.

Maybe the market is just heading back towards that reality?

The whole car market used + new has been turned inside out the past 2 years , none of it expected or predicted with shortage of stock / high demand driving values of both new & used up but ( & its a big but for me ) 2023/2024 is a little easier to see how the trend will go as its already started .
Dealers with new stock will be sat on it for much longer than they were simply down to finance deals being unpalatable or unaffordable to the masses who like to drive a new car every 2-4 yrs & happy coughing up £250-£450 per month for the privilege . That has been the norm for over 10 years but this has been made possible due to lots of cheap money around for finance companies to play with .
Now that interest rates are rising & unlikely to return sub 5% in the next 12 months those folks who's deals are ending will suddenly have to make the decision to either spend a good lump more per month to "stand still " by driving away the new model of what they already have ( not feasible for many as they see their mortgages & utilities escalating ) or they stick with a monthly they can tolerate but find themselves dropping down in terms of model range or brand .
The next problem for dealerships with 3-4-5 yr old cars on the forecourt will be finding private buyers willing to pay the sums of money per month via personal loans to drive the cars away .
Going back to the original topic these are all factors as to why G29 prices are heading south ( along with most others )
Seeing 20i models at main dealers for £25k on 30k miles would suggest private sales will soon be seen around £20k.
A volatile period ahead for sure & the heady days of M40is at £50k+ right now seems complete nonsense .
Certainly interesting viewing from the back row :wink:

 

[Ian J]

Seeing 20i models at main dealers for £25k on 30k miles would suggest private sales will soon be seen around £20k.

Wow. Sytners took my one year old 2.0i off me in part ex just three months ago for £34,000 but that only had 5,000 miles on the clock

 

[mr wilks]

Seeing 20i models at main dealers for £25k on 30k miles would suggest private sales will soon be seen around £20k.

Wow. Sytners took my one year old 2.0i off me in part ex just three months ago for £34,000 but that only had 5,000 miles on the clock

Plenty of choice 2.0i G29 AUC around £25k / £26k with as little as 18k miles on the clock