Ok so here are my calculations:
CAP Valuation
the CAP valuation of my exact car is £9,400 trade in clean. Naturally this is way off the mark as we all know. I tend to tell people to add £1-2k to this mark as a standard.
My Valuation Algorithm
My own depreciation algorithm puts my car at £8,852 if at average mileage. This is based on 22% return of the original cost. 22% is what I equate an 8 year old car to retain and my car will be 8 in March.
I adjust mileage accordingly by £50 per 1k miles. As such 80k miles - 44k miles = 36k x £50 = £1,750 which gives me an overall valuation of £8,852 + £1,750 = £10,602. So this is still way out..
Autotrader Comparison
Just taking one look at autotrader tells you this is completely out. So ignore all of the above and now look at an alternative approach.
There are presently 51 x Z4 Coupes for sale on Autotrader, of which only 21 are automatics. Of those 21, 2 have sat nav. Their prices are £14,500 (77k miles) & £14,995 (40k miles) both being sold by independent dealers. Not BMW.
Pistonheads Comparison
Pistonheads have 5 Automatic Coupes for sale, of which 2 have sat nav, but one of those is also listed on autotrader so I shall ignore it. The other is an 07 car with 60k on the clock and is priced at £12,495. Its a higher spec car than the BMW car below but has higher miles. At this price they value its retention at 33%.
eBay Comparison
eBay have 7 unique Auto Coupes listed, of these none have sat nav. But their prices vary between 11 and 15k based on age, condition, mileage, spec, etc.
BMW Comparison
BMW themselves have 1 Automatic Coupe for sale with sat nav. Its a March 07 (exact same as mine) with 41k miles on the clock. It has MSFW, extended storage, heated seats, PDC, Sat nav, Sun Protection Glass and Bluetooth and is grey with black leather, aluminium trim and 135 alloys. So about half the options mine has.
Based on that spec, the original value of BMW's car was £37,720. Which means based on my depreciation algorithm it is worth £10,248 now (at 22%) when in fact they value it at £13,175 which is 35% of the original value of the car.
Conclusion
So if I apply 35% to my car it should be valued at £14,082. Now obviously I dont have the BMW brand / warranty behind me but looking at the above I would say that 35% is a realistic value to place the car at based on spec, miles, condition etc. Therefore perhaps I have priced it about £500 over what I should have..
Thoughts?
they are Hybrids so zero roadtax & up to 80mpg
mind blowing really
By the seaside...
