Updated ///M residual info
- Thread starter Wondermike
- Start date
BMW finance have got themselves into a pickle with GFVs on their select product. They had to have a major rething in July 06 due to the residual performance of the Z4 and Z4M (all self induced I might add).
My March 06 3.0si Roadster with middling spec has a GFV of £22K for June 08. This is quite funny given that the car is only worth alittle more than that now trade.
My March 06 3.0si Roadster with middling spec has a GFV of £22K for June 08. This is quite funny given that the car is only worth alittle more than that now trade.
There was a March car up at £23k a couple of weeks ago [dealer], so they'll be kicking themselves when they take yours back in at £22k next June :lol:JimDiesel said:
Quite shocking though, they'll probably make up for the loss by pre-registering a few 2.0 cars just to knock the residuals even further.
senwar don't worry about it mate, imagine we all had the benefit of hindsight, life would be great.
Best thing for you to do with your ///M is make sure you drive it, enjoy it and get your money's worth out of it. My mate had a 2003 TT, bought it new with no discount, did 90k miles in 2.5 years then traded it and lost a fortune, but he had 90k of really enjoyable miles in it, so it was worth it for him.
Best thing for you to do with your ///M is make sure you drive it, enjoy it and get your money's worth out of it. My mate had a 2003 TT, bought it new with no discount, did 90k miles in 2.5 years then traded it and lost a fortune, but he had 90k of really enjoyable miles in it, so it was worth it for him.
Wondermike said:
To be honest, as it stands today, I actually intend to buy it at the end of the 3 years.
Yes things will probably change but its the first car I've ever felt like keeping for a time. Because I love it that much
So I look on it as I have a lot less to pay when the 3 years are up!
(you watch, I'll trade in within 12 months or something!)
Nah I reckon you'll keep it longer than that. What could replace it? See.senwar said:
I don't get all this depreciation fuss.
Depreciation on cars is much higher now than it ever used to be, and I don't really think the Z4Ms are doing any worse than a lot of other cars in this respect.
Go and have a look for a three year old Porsche Boxster on Autotrader, you can pick one up for pretty much half price and the Boxsters have always had about the lowest depreciation going.
I'm pretty sure the Z4Ms will manage 50% when there three years old.
Depreciation on cars is much higher now than it ever used to be, and I don't really think the Z4Ms are doing any worse than a lot of other cars in this respect.
Go and have a look for a three year old Porsche Boxster on Autotrader, you can pick one up for pretty much half price and the Boxsters have always had about the lowest depreciation going.
I'm pretty sure the Z4Ms will manage 50% when there three years old.
I posted the original thread really just because there had been several discussions on Z4um and Zed-cars prior to them going offline, and wanted to update people (particularly those with existing Select agreements) as to the current BMW position on residuals for Select - and certainly not to piss on anyone's chips who already owns an ///M.
:cheers:
The complaint that I personally have is with BMW UK really, the ///M residuals have had the effect of pushing down the whole range. Several people on here/other forums bypassed the 3.0Si and got a used ///M instead, therefore lowering demand for the 3.0Si - this lower demand for 3.0Si then having an impact on older/other cars too.
BMW have registered so many cars themselves, whether as management cars or dealer demos, that supply is far outstripping demand, and has done for some time. Although I had a trade price agreed with my Merc dealer, I sold my Z4 today to a local dealer for a bit more cash, and £500 more than I was offered against a £34k ///M by a dealer I had been speaking with for the last 4 months - I know that low part-ex prices and deluded opinions of what their own cars are worth are not mutually exclusive to BMW, but even still, I expected a better deal on that car than I got by walking in off the street to another dealer, without buying something else from them.
Anyway - two weeks on Autotrader/Pistonheads without a single call, despite being the cheapest 2005 car on there. So £17,500 for a 25 month old car with a list price new of £35k including options. That's my last word on Z4 depreciation, as I am going to be the unofficial "Other marques" aficionado (well, once sp3ctre sets it up)
:cheers:
The complaint that I personally have is with BMW UK really, the ///M residuals have had the effect of pushing down the whole range. Several people on here/other forums bypassed the 3.0Si and got a used ///M instead, therefore lowering demand for the 3.0Si - this lower demand for 3.0Si then having an impact on older/other cars too.
BMW have registered so many cars themselves, whether as management cars or dealer demos, that supply is far outstripping demand, and has done for some time. Although I had a trade price agreed with my Merc dealer, I sold my Z4 today to a local dealer for a bit more cash, and £500 more than I was offered against a £34k ///M by a dealer I had been speaking with for the last 4 months - I know that low part-ex prices and deluded opinions of what their own cars are worth are not mutually exclusive to BMW, but even still, I expected a better deal on that car than I got by walking in off the street to another dealer, without buying something else from them.
Anyway - two weeks on Autotrader/Pistonheads without a single call, despite being the cheapest 2005 car on there. So £17,500 for a 25 month old car with a list price new of £35k including options. That's my last word on Z4 depreciation, as I am going to be the unofficial "Other marques" aficionado (well, once sp3ctre sets it up)
Your right Jay I plan to keep my car for at least a couple of years, after all why go to the trouble of specing the car just as you want it if your not going to get the benefit?JayD said:
I think the prices will go the way of the Z3MCs in the end as well. I have been keeping an eye on Z3MC prices since the start of 2006 and IMO they have stopped depreciating and if anything have started to go back up in price.
No probs Wondermike I haven't got a problem with the discussion, it would be nice if the residuals were better but I knew buying an M was going to be throwing money away.Wondermike said:
Your quite correct, but did you realise this also has an effect on other makes of cars in the same category?
Cheers Top Pup, I think you're right about other cars, I'm not expecting miracles from my SLK either, they've been around for 3 years now and will have been mildly facelifted before I sell mine, but I'm hoping (hoping!!) to do OK out of it.
Unbelievably, there is a guy on TT-forum who has traded a new TT coupe against a new one for £1500 less than he paid list price (including options) and it will be 12 months old when the new one arrives. Talk about supply & demand :roll:
Unbelievably, there is a guy on TT-forum who has traded a new TT coupe against a new one for £1500 less than he paid list price (including options) and it will be 12 months old when the new one arrives. Talk about supply & demand :roll: