320D a/t (E90) need to know the value

[SharnThoR]

Hi Everyone

I'm fairly new here... but I need some info and was hoping to find some info here.

I've gotten myself into a really raw deal with bmw a few years ago and am trying to out of my car now. I really only need to know the real selling value of my vehicle?

The worst offer I've received so far was R100k and the best so far was R120k.

Black 320D automatic (e90)
150 000km on the clock
2010 model
Bluetooth and rear pdc's included

Now I know there's some issues on the resale value of some BMW vehicles, but there's just no way that I, or anyone for that matter, can afford to lose R72 000 on a vehicle like this.

Any help would be greatly appreciated!

Thanks in advance!

 

[Mamboza]

Ask Tris here
http://www.bmwfanatics.co.za/showthread.php?tid=63327

 

[WIDEOPN-X5]

I suspect that the "raw deal" you refer to included a fairly sizeable residual value? Like 40%??

If you are in a residual value deal and you have a high mileage vehicle there's not really much you can do.

A few questions:

1. Did you by new and finance with O% deposit and residual.

2. Are you at the end of the payment term (say 60 months) and now have to stump up the residual?

 

[SharnThoR]

I suspect that the "raw deal" you refer to included a fairly sizeable residual value? Like 40%??

If you are in a residual value deal and you have a high mileage vehicle there's not really much you can do.

A few questions:

1. Did you by new and finance with O% deposit and residual.

2. Are you at the end of the payment term (say 60 months) and now have to stump up the residual?

Hi

By RAW deal, I mean that I was very new to BMW... in fact it was my very first BMW that I purchased. I never knew the newer models are coming out, so I took my current one.

It was a demo model with 35 000km on the clock. 35% res @ R0 deposit, traded my previous vehicle.

Within 3 months, I lost R125k on my vehicle I think that was the saddest time in my life when I found that out.

Either way, I signed the contracts etc so it was my own fault at that.

I am not yet at the end of the repayment no, I've got another year left then the res value needs to be paid.

 

[Venda Boy]

Hi Everyone

I'm fairly new here... but I need some info and was hoping to find some info here.

I've gotten myself into a really raw deal with bmw a few years ago and am trying to out of my car now. I really only need to know the real selling value of my vehicle?

The worst offer I've received so far was R100k and the best so far was R120k.

Black 320D automatic (e90)
150 000km on the clock
2010 model
Bluetooth and rear pdc's included

Now I know there's some issues on the resale value of some BMW vehicles, but there's just no way that I, or anyone for that matter, can afford to lose R72 000 on a vehicle like this.

Any help would be greatly appreciated!

Thanks in advance!

Sad news.

 

[WIDEOPN-X5]

I suspect that the "raw deal" you refer to included a fairly sizeable residual value? Like 40%??

If you are in a residual value deal and you have a high mileage vehicle there's not really much you can do.

A few questions:

1. Did you by new and finance with O% deposit and residual.

2. Are you at the end of the payment term (say 60 months) and now have to stump up the residual?

Hi

By RAW deal, I mean that I was very new to BMW... in fact it was my very first BMW that I purchased. I never knew the newer models are coming out, so I took my current one.

It was a demo model with 35 000km on the clock. 35% res @ R0 deposit, traded my previous vehicle.

Within 3 months, I lost R125k on my vehicle I think that was the saddest time in my life when I found that out.

Either way, I signed the contracts etc so it was my own fault at that.

I am not yet at the end of the repayment no, I've got another year left then the res value needs to be paid.

Okay, so what is the value of your residual in Rand terms (35% of what purchase price and over what period?)

Typically, if the car is well cared for and looks in top nick at the end of a 60month payment period, the value of the car should equal the residual at worst. If there are other factors like high mileage or poor condition, you may be in for a hiding.

Residual deals make cars "affordable" but have massive teeth unfortunately.

 

[SharnThoR]

[/quote]

Okay, so what is the value of your residual in Rand terms (35% of what purchase price and over what period?)

Typically, if the car is well cared for and looks in top nick at the end of a 60month payment period, the value of the car should equal the residual at worst. If there are other factors like high mileage or poor condition, you may be in for a hiding.

Residual deals make cars "affordable" but have massive teeth unfortunately.
[/quote]

Massive teach is an understatement.

Purchase price = R330 000
Residual value = R115 000
Still owed = R172k

So, only around a year left and the normal finance value is paid up.

I did get a good interest rate though = 6.25%. That's the only good part about that deal...

 

[Venda Boy]

Sad news.
[/quote]

You know... if car dealers would only be upfront with people, things would go much easier. Sadly, that is not the case...

Anyway, it's a mistake of my own. My own signature is on that contract.

One thing I must say though, BMW is a very nice drive!!! I still get 4.6 L/100km on this vehicle when I take the open road
[/quote]

Post pics here maybe someone will be interested

 

[Nick]

Say no to residual.

 

[SharnThoR]

I'm at work currently, but I'll get some photos a little later on during today.

Thanks for the help everyone!

 

[WIDEOPN-X5]

Okay, so what is the value of your residual in Rand terms (35% of what purchase price and over what period?)

Typically, if the car is well cared for and looks in top nick at the end of a 60month payment period, the value of the car should equal the residual at worst. If there are other factors like high mileage or poor condition, you may be in for a hiding.

Residual deals make cars "affordable" but have massive teeth unfortunately.
[/quote]

Massive teach is an understatement.

Purchase price = R330 000
Residual value = R115 000
Still owed = R172k

So, only around a year left and the normal finance value is paid up.

I did get a good interest rate though = 6.25%. That's the only good part about that deal...
[/quote]

Your best bet now is to watch the mileage if you can. Try to keep below 180k km and in a year, you should just about square the residual and not be out of pocket. Sad reality is that you won't have a car and will have to start from scratch. But, you won't have paid in R100k like i had to do on my previous 320D. That REALLY stung and that's why I learnt the hard way about residual deals, overtrading (taking the shortfall from the vehicle being traded in and adding to the new vehicle as "extras") . That's when you really really

:rollsmile:

 

[SharnThoR]

Yeah, sadly that is the case these days though.

People simply cannot afford these nice cars, but we all want to drive them

Well, mistakes were made and I believe I've learned from them...

Oh, also cannot watch the mileage really... I drive around 26k km a year. Sometimes around 33-35k km.

I'm really starting to get the feeling that this BMW is here to stay...

 

[Sabretooth tiger]

Realistically you looking at R120k max on a trade in, trade in value I think is around R140k now. My 320d also a 2010 model (85 000km in plan) I got R135k on trade in, managed to settle it, was about R10k short, but got a massive discount on my Dodge.

Best now as already said, is try to keep your mileage as low as possible and keep the car till the end of your finance term, to get as close a relation between your residual and market value. Problem is by that time we already have the F30lci in the market, so your trade is going to take even a further knock.

There is no easy way to say this, but it is still going to cost you a lot of money.

 

[SharnThoR]

Realistically you looking at R120k max on a trade in, trade in value I think is around R140k now. My 320d also a 2010 model (85 000km in plan) I got R135k on trade in, managed to settle it, was about R10k short, but got a massive discount on my Dodge.

Best now as already said, is try to keep your mileage as low as possible and keep the car till the end of your finance term, to get as close a relation between your residual and market value. Problem is by that time we already have the F30lci in the market, so your trade is going to take even a further knock.

There is no easy way to say this, but it is still going to cost you a lot of money.

Well, honestly, I'll drive a GWM for all I care right now... I just need to stop making BMW finance richer on this vehicle.

I'd gladly take R120k on my vehicle. That leaves +- R50k shortfall which I'll just load on something else.

If I can get myself into another vehicle and pay the same installment, but no res.. That'll allow me to get out of this situation in another 5 years. If I don't do the above...I'll have to find around R100k, which I do not have

 

[tman]

Hi

By RAW deal, I mean that I was very new to BMW... in fact it was my very first BMW that I purchased. I never knew the newer models are coming out, so I took my current one.

It was a demo model with 35 000km on the clock. 35% res @ R0 deposit, traded my previous vehicle.

Within 3 months, I lost R125k on my vehicle I think that was the saddest time in my life when I found that out.

Either way, I signed the contracts etc so it was my own fault at that.

I am not yet at the end of the repayment no, I've got another year left then the res value needs to be paid.

Im sorry for your misfortune.

I know you made a mistake, and there is no use to cry over spilled milk, but why on earth did you not do proper research on the models before dropping more than R300 000 of your hard earned money? Also, I didnt realize that people still fall for this balloon payment crap?

At least you bought a very reliable and fuel efficient car.

If I was in your position I would have tried to settle and keep the car. Its the only way that you can end this vicious cycle and at least still have some wheels to get you from point A to point B that you actually own.

What do you plan on doing when you sold this car? Get another balloon payment deal? Driving up to 35 000km a year the diesel is your best bet. Chances are you will spend the more on fuel with any other car you buy.

 

[SharnThoR]

Im sorry for your misfortune.

I know you made a mistake, and there is no use to cry over spilled milk, but why on earth did you not do proper research on the models before dropping more than R300 000 of your hard earned money? Also, I didnt realize that people still fall for this balloon payment crap?

At least you bought a very reliable and fuel efficient car.

If I was in your position I would have tried to settle and keep the car. Its the only way that you can end this vicious cycle and at least still have some wheels to get you from point A to point B that you actually own.

What do you plan on doing when you sold this car? Get another balloon payment deal?
[/quote]

Balloon payments are a thing of the past for me...NEVER AGAIN!!! Hehehe

Well, long story short... I needed to sell my previous vehicle and move into a vehicle with a lot better fuel consumption (drove 110km per day MINIMUM back then). So, this was a very good buy, doesn't matter which way I looked at it.

Granted, I could've done more (research, negotiated better, etc), but hindsight is always 20/20

 

[Sabretooth tiger]

Realistically you looking at R120k max on a trade in, trade in value I think is around R140k now. My 320d also a 2010 model (85 000km in plan) I got R135k on trade in, managed to settle it, was about R10k short, but got a massive discount on my Dodge.

Best now as already said, is try to keep your mileage as low as possible and keep the car till the end of your finance term, to get as close a relation between your residual and market value. Problem is by that time we already have the F30lci in the market, so your trade is going to take even a further knock.

There is no easy way to say this, but it is still going to cost you a lot of money.

Well, honestly, I'll drive a GWM for all I care right now... I just need to stop making BMW finance richer on this vehicle.

I'd gladly take R120k on my vehicle. That leaves +- R50k shortfall which I'll just load on something else.

If I can get myself into another vehicle and pay the same installment, but no res.. That'll allow me to get out of this situation in another 5 years. If I don't do the above...I'll have to find around R100k, which I do not have

Problem you will have, is finding a car with enough meat, to cover your R50k short fall. The dealer that offered you the R120k might not have one, and the one that has a car with enough meat, might not offer you R120k. Or if you find both, it might be a car that's even more expensive to begin with.

 

[SharnThoR]

Realistically you looking at R120k max on a trade in, trade in value I think is around R140k now. My 320d also a 2010 model (85 000km in plan) I got R135k on trade in, managed to settle it, was about R10k short, but got a massive discount on my Dodge.

Best now as already said, is try to keep your mileage as low as possible and keep the car till the end of your finance term, to get as close a relation between your residual and market value. Problem is by that time we already have the F30lci in the market, so your trade is going to take even a further knock.

There is no easy way to say this, but it is still going to cost you a lot of money.

Well, honestly, I'll drive a GWM for all I care right now... I just need to stop making BMW finance richer on this vehicle.

I'd gladly take R120k on my vehicle. That leaves +- R50k shortfall which I'll just load on something else.

If I can get myself into another vehicle and pay the same installment, but no res.. That'll allow me to get out of this situation in another 5 years. If I don't do the above...I'll have to find around R100k, which I do not have

Problem you will have, is finding a car with enough meat, to cover your R50k short fall. The dealer that offered you the R120k might not have one, and the one that has a car with enough meat, might not offer you R120k. Or if you find both, it might be a car that's even more expensive to begin with.

That is absolutely true... The only vehicle right now that I can find that might make this do-able, GWM H6 or H5 SUV

 

[Sabretooth tiger]

Sorry man, don't mean to sound like a prophet of doom, but its the reality you facing.

All the best with your decision forward. Just keep future resale value in mind. If you going to want to get out of it at some stage.

 

[SharnThoR]

Sorry man, don't mean to sound like a prophet of doom, but its the reality you facing.

All the best with your decision forward. Just keep future resale value in mind. If you going to want to get out of it at some stage.

Will do and thank you!!!

I think going into the GWM might just save my butt... I hope so anyways.

The parts are fairly inexpensive, services and maintenance much cheaper than my BMW currently, and it's potentially a vehicle that we might want to drive till the day it just falls appart.

Either way, spending same installments with 0 residual seems to be the only way out.