What's my Z4MR worth?

D

dan yeates

Active member
 New Forest, Hampshire
Hi,

I've not been in the fold for long I know. I originally bought the car as the house we were buying fell through, so I thought I'd treat myself to a nice sports car over the winter, with a view to selling it in the spring to buy another house.

However, I've found a very nice house locally. It depends on whether they'll move on the price by much, as it is over our budget, but if they do, I will need to sell the Z to raise funds for the deposit. We're first time buyers and need a £35,000 for the deposit :(

So, what do you think it's worth at this time of year. I paid £15,000 for it and have since fitted 4x new Continental Contact Sport 5 tyres, an iPhone/iPod integration kit and the Brodit active mount.

Spec:

2006 Z4M Roadster
31,000 miles
Monaco blue (one of only 7!)
Extended leather package, Sepang bronze and carbon leather
BMW Assist Bluetooth system
CD changer (now redundant with iPod kit)
PDC
Electric memory and heated seats
Auto dimming mirrors
Full BMW service history, all stamped in the right places with all receipts
Immaculate, as new, condition, just one wheel lightly scraped but could be repaired easily and light stone chips on the front.
It's recently had Inspection I so it's due an oil service in around 3,000 miles. It's recently had new discs and pads too.
Just been taxed and MOT'd (expensive!)

Interested to hear your thoughts. I know it's not the best time of year to sell. Would values pick up in the spring do you think?

Thanks,

Dan
 
First of all congratulations on finding a new place potentially. Don't think you're pricing too high at £15k but take into account that recently prices have dropped severely due to numerous obvious economy factors. If you can wait until springtime you probably get closer to what you want for it (especially as its a roadster) but depends on how desperate you are to sell.

Hope it works out for you!
 
Thanks for your kind words. I've spent around £1,250 on it so far on the things mentioned above, but if I could get back around what I spent on the car itself, I'd be happy.

Will probably know more next week. The vendors of the house would need to move a substantial amount, so it may not go ahead anyway, but need to assess all options.
 
Sorry the Zed may have to go but a house comes first!

You will have to value against the market, there are similar motors for sale by specialist dealers offered at £14k ish (with some redress and possibly a warranty) and these will sell for £13.5k. To get someone to come and look at a private sale in this market you are going to have to undercut them. It's a mess out there at the moment :cry:
 
dan yeates said:
.. but if I could get back around what I spent on the car itself, I'd be happy.
Click to expand...
Oh to be able to say that. :D

I reckon we should get a hedge fund to buy all the Ms out there & cause short supply, stick them all in a barn & watch the prices rocket 8)

Tough times ahead taking to a banking analyst friend of mine last week.. Definitely helps you sleep at night when you're in your own bricks & mortar. Lovely car, hope it all falls into place for you :thumbsup:
 
Andy said:
dan yeates said:
.. but if I could get back around what I spent on the car itself, I'd be happy.
Click to expand...
Oh to be able to say that. :D

I reckon we should get a hedge fund to buy all the Ms out there & cause short supply, stick them all in a barn & watch the prices rocket 8)

Tough times ahead taking to a banking analyst friend of mine last week.. Definitely helps you sleep at night when you're in your own bricks & mortar. Lovely car, hope it all falls into place for you :thumbsup:
Click to expand...

Thanks, it is a beautiful car. Shame I don't get to use it much. I have to work this weekend as well, so it was last used last weekend and won't get used until the next! It's just sat in its little concrete box, in the dark! I was hoping to get some proper use out of it over the 11 days I have off for Christmas. I'll keep you updated. May end up keeping it until the spring, so might get a slightly better price for it.

The good thing about this new house is it has a really nice modern attached garage, with power and lights. It even has a lovely wooden door. Just a shame I'll have to sell the nice car in order to buy it!
 
Ewazix said:
Sorry the Zed may have to go but a house comes first!

You will have to value against the market, there are similar motors for sale by specialist dealers offered at £14k ish (with some redress and possibly a warranty) and these will sell for £13.5k. To get someone to come and look at a private sale in this market you are going to have to undercut them. It's a mess out there at the moment :cry:
Click to expand...

Yep, after having looked on Autotrader it does seem to be that way. I had initially looked on PH and the prices were a bit higher. Suppose it depends if you want a common blue or a rare blue! :D
 
Dan sadly I have to say you're going to lose your shirt selling it right now. All the spending you've done,dealer stamps, tyres, etc. will make it stand out, but not what you paid. Economics, time of year and uncertainty mean only bargains and essential purchasing is taking place.

As posted above similar to Andy in terms of the market, I spent Wednesday with the former chief cashier of Bank of England, and several leading bank economists. You'd best hold on for the ride to 2015 is all I can say.

If you have to sell then sell and in the bigger picture of picking up a new house any loss is trivial.

Btw and as an aside fix you're rate. Base won't move up until 2013 earliest and banks plan to widen their margin on mortgages to make some profit and fix the losses between MLR and savings rate of 3.x%. Mortgages are the next easy target...
 
cj10jeeper said:
Dan sadly I have to say you're going to lose your shirt selling it right now. All the spending you've done,dealer stamps, tyres, etc. will make it stand out, but not what you paid. Economics, time of year and uncertainty mean only bargains and essential purchasing is taking place.

As posted above similar to Andy in terms of the market, I spent Wednesday with the former chief cashier of Bank of England, and several leading bank economists. You'd best hold on for the ride to 2015 is all I can say.

If you have to sell then sell and in the bigger picture of picking up a new house any loss is trivial.

Btw and as an aside fix you're rate. Base won't move up until 2013 earliest and banks plan to widen their margin on mortgages to make some profit and fix the losses between MLR and savings rate of 3.x%. Mortgages are the next easy target...
Click to expand...

Thanks for your comments. All interesting.

I see this one was advertised at pretty strong money, but is sold. But we don't know for how much... http://www.pistonheads.com/sales/3342505.htm

Perhaps £13,500 is about right for mine at the moment, which isn't nice. Perhaps we'll drag it out until the spring when maybe prices will be a little stronger.

Strangely enough, I'm doing well at work at the moment, and have sold three boats this week!
 
Just to add, we currently rent a house from my girlfriend's parents (very cheaply) allowing us to save well each month, so we're certainly in no rush to buy a house really. Just get pressured into it somewhat from family as it's the "thing to do".

We do very much like this house, but we're not sure if it's going to be too expensive for us. Unfortunately, living in the New Forest, means house prices are very high for miles around. A decent 2 bedroom semi detached with garage is starting at around £230,000, and raising the 15% deposit for that has taken a while. Luckily we don't have stamp duty to pay, but there are still a lot of other costs we'd need to take into consideration.

It's also going to be a bit of a shock having to pay twice what we're paying now on rent, on the mortgage. :o
 
Im thinking 14500 is the right number but .... nothings moving right now.
13500 is probably what is needed to move it on quickly. Theres no real shortage of cash - its that no one is willing to part with any right now. What you are looking for is someone who thinks they are getting a bargain that they wont lose money on ......
 
Keep the car, buying a house is so yesterday :). Buying peroperty is what people used to do
Don't see house prices moving in the short to mid term upwards. Take the time to find the property you really want if you must buy. Be aware that should you want to sell it, it could be a 3+year wait. I'm kind of in that situation now.Main property owned for 7 years and now want to move on but buggery me, not many buyers around. Life is short, so tempted to just move on and rent somewhere else and leave my place to eventually sell or just rent it for a few years then try again at selling.
Property ownership during these times can be such a PITA and ties you down
 
Darren M said:
Keep the car, buying a house is so yesterday :). Buying peroperty is what people used to do
Don't see house prices moving in the short to mid term upwards. Take the time to find the property you really want if you must buy. Be aware that should you want to sell it, it could be a 3+year wait. I'm kind of in that situation now.Main property owned for 7 years and now want to move on but buggery me, not many buyers around. Life is short, so tempted to just move on and rent somewhere else and leave my place to eventually sell or just rent it for a few years then try again at selling.
Property ownership during these times can be such a PITA and ties you down
Click to expand...

There is a lot of mixed data out there about house prices,
http://www.thisismoney.co.uk/money/mortgageshome/article-2066212/CEBR-House-prices-rise-15-years.html
I'm constanly amazed how property prices have held up (low supply, low % rates?) and how badly previously desirable cars are doing. I bought my second house at a 'bad time' 25 years ago, it was tough but still the best thing I ever did. If you have to sell the Zed do it and take the hit, it's small beer in the long term, Sportscar prices are only going one way.
 
pilchardthecat said:
You're buying a house now? :o

Buy it next year and buy five Z4s with the money you don't lose.
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First time buyer, mortgage arranged and deposit raised, ready to move. We had offered £30k under asking price on the last house, (which fell through) plan to do the same on this. Offering £35k under asking on this and not negotiating any further. Just taking advantage of our situation!
 
I would buy now - bank/mortgage rates aren't going any further south


Sent from my iPad using Tapatalk
 
This is why house buying is too confusing! Still, I'm out there to get a bargain. If I can't, I won't buy. They want to sell more than I want to buy.
 
If your in the market, this is one of the best 5 year fixed around, 15% deposit will get you 4.19%. Don't be put off by the £999 fee, on the amount your borrowing, well worth paying a fee to get a lower rate! :thumbsup:

http://www.co-operativebank.co.uk/servlet/Satellite/1193206376309,CFSweb/Page/Bank-Mortgages?product=fixed#fixed
 
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