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

[Sabretooth tiger]

BE it Hyundai, BMW or Merc, its about finance principles, not manufacturer on manufacturer.

On the other hand, its ok bud, don't want the info. If that's how it works for you then :thumbs:

 

[Flame]

No problem...just thought i can show other ppl also how to save thousands of rands by a method what is easy without hassle.

 

[tman]

No problem...just thought i can show other ppl also how to waste thousands of rands by a method what is easy without hassle.

Fixed it for you :smashScreen:

 

[Sabretooth tiger]

No problem...just thought i can show other ppl also how to waste thousands of rands by a method what is easy without hassle.

Fixed it for you :smashScreen:

You so right Thinus.

Buying and selling cars used to be way easier before the auto bid crap, which in my book is almost price fixing.
To continuously load on top of car's prices (meaning you pay more for it) which not only wastes money in interest, but means you constantly out of pocket and will never own a paid off vehicle is wasting money. If you buying, and you actually pay less than the price tag, and paying off in shorter periods is the only time you actually saving money. (you save on initial purchase, and save in interest)

 

[sash]

my belief is if i cant afford it in cash.., i cant afford it... so i will never own a car younger than 5 years......

 

[Flame]

Whatever....i got all on paper....end of story.

Just as many ppl thought workd is flat....and at end world is round.

 

[Sabretooth tiger]

Whatever....i got all on paper....end of story.

Just as many ppl thought workd is flat....and at end world is round.

:thinking:

 

[Flame]

Ill try one more time. My car value. R148k. I own R181k. I own R33k more than car value. U got that?

Now. New car R270 000 cash.... trade in R290 000... so R20k less discounted on the new car to settle.....right..

So they give me R148 (book value) plus extra R13 000.

So they give me R161 000 for my car....what is a good price for my car since its price was R155 000 3 months ago when i bought it...i lost only R7000 in this time....


So back when i traded my old car and they loaded R20k on it...i get now R13 000 of my loaded money back in this deal.

And so with next deal...i will get back again!

 

[Sabretooth tiger]

My reason for my :thinking: smiley was for a totally different reason, other than simply not agreeing with you.......

---

Ill try one more time. My car value. R148k. I own R181k. I own R33k more than car value. U got that?

Now. New car R270 000 cash.... trade in R290 000... so R20k less discounted on the new car to settle.....right..

So they give me R148 (book value) plus extra R13 000.

So they give me R161 000 for my car....what is a good price for my car since its price was R155 000 3 months ago when i bought it...i lost only R7000 in this time....


So back when i traded my old car and they loaded R20k on it...i get now R13 000 of my loaded money back in this deal.

And so with next deal...i will get back again!

Let me try explain to you what I am trying to say. You not getting R166k for your car. if they giving you full trade, you getting R148k for it.
If a non trade in buyer walks in, and asks for discount, he is in actual fact getting the 116i for R257k. Meaning you loaded R33k on to the price of the car. And yes you can walk in and ask for discount. This is how I got R15k off my E90 323i back when I bought it. Dealers are not going to give you a lower price to be nice, It has to make financially sense to them. They need to have meat in it.

Now to get back to the topic at hand, The OP's situation, where he wants to pay the same premium without a balloon. To load his shortfall to whatever deal BMW give him, is not a good deal. He is in actual fact going to be worse off. He will either have another balloon payment, or have way higher installments.

Then think about it, unless you bought cash, you lost more than R7000. Do you realize there is interest involved here? and the higher the debt, the more interest you pay back over a period.

Anyway, enough from me.
Cheers :thumbs:

 

[Flame]

U dont have to agree....thats ur problem. Im pointing out...if u buy at bmw if u have current bmw..they give a better price than abc motors down the street ..

Unless u think R161 000 is not a good offer?

The car i want to buy was just a example.....their going rate is anyway R285k to R290k....so they did not really load anything...im buying a car for R290k what have a retail value of R290k.

If car was R290k and they had to load ON THAT..yes then it would be a loss and extra money in the water due i buy a car of R290k value for R310k....

 

[SharnThoR]

So this is how it actually went down at BMW...

I ow BMW: R172 234
Current value of my car: R149 000
They offer me: R110 000
Now, the shortfall between R172k and R110k is R62k!!

Now, the new vehicle is R365k, load the R62k on top of that and you get R427k.

Discount? Not a chance man... "R110 000 is already too much, we should only give you R90 000 for your vehicle" - from BMW.

Now, where in this sum did I save any money at all? I currently have a interest rate of 6.25%. If I take ANY deal with them right this minute, I will have a interest rate of no less than 10%.

'nuff said

PS BMW does in fact NOT give a better deal than ABC dealership down the road... ABC dealership in fact hands the vehicle to BMW anyway... so, you'll get your best deal where the dealership has the most "meat" in the vehicle that you potentially want to buy. BMW does NOT make less than R50k on a trade-in just so you know

 

[Flame]

So this is how it actually went down at BMW...

I ow BMW: R172 234
Current value of my car: R149 000
They offer me: R110 000
Now, the shortfall between R172k and R110k is R62k!!

Now, the new vehicle is R365k, load the R62k on top of that and you get R427k.

Discount? Not a chance man... "R110 000 is already too much, we should only give you R90 000 for your vehicle" - from BMW.

Now, where in this sum did I save any money at all? I currently have a interest rate of 6.25%. If I take ANY deal with them right this minute, I will have a interest rate of no less than 10%.

'nuff said

PS BMW does in fact NOT give a better deal than ABC dealership down the road... ABC dealership in fact hands the vehicle to BMW anyway... so, you'll get your best deal where the dealership has the most "meat" in the vehicle that you potentially want to buy. BMW does NOT make less than R50k on a trade-in just so you know

R110k? They silly!!!! Lol. Shop around....i was offerd also R90 000 at one dealer...but i asked 11 dealers for qoutes. 2nd best was R151 000 straight up...i dont tell them the settlement or what car i want to buy..i just tell them i want to trade and they must tell me what they will give me....its nothing to do with them....i only tell them afterwards..and then the deal start...

---

Ps: buy a 3 series demo..its only 4.5% then.. only from bmw finance unlucky.

 

[WIDEOPN-X5]

My experience of trading in my 320d out of MP is that BMW dealers "normally" say that the don't put out of plan cars on their BMW Premium used car lots.

They tell you they "send those vehicles our to the trade"

In my case, they gave me R135 000 trade in (I remember the figure because it was effectively the same as the cars mileage) on my 320d against the X3 and I owed R 183 000. I got to hear that they sold my car for R 195 000 and that really pissed me off:RedNo:

I paid FULL RETAIL for the DEMO model + extras X3 that I could have got at the base model price had I walked in as a cash (or no trade in BMW Finance) buyer off the street.

They "loaded" the shortfall onto the X3 by listing the accessories at retail value so at worst the "stealership" made R120k on that deal; R63k on the accessories "loaded" onto the X3 deal PLUS the R60k they made selling my 320d.

At best now with over 100000km's on the X3, I have to keep the vehicle another 2 yrs before I can hope to get out without paying in. That is if my wife now drives the car and we keep the mileage for the next 2 yrs under 12 000k's / year!!!

I will probably realistically be landing up running to the full 5 yrs and even then may have to pay in!!:RedNo:

So Flame, I think you are using "ponzi scheme maths" bud but hey if it works for you no probs.

My aunt used to say she'd saved money by shopping at Makro Durban for groceries......it was cheaper than Pick n Pay Port Shepstone.

But aunty, you live in Port Shepstone:roflol::roflol:

 

[Flame]

What will happen if i get R160 000 for it..and buy a R130 000 car? I het R10 000 cash out?

 

[Sabretooth tiger]

I tell you what. Post us this OTP where BMW said they will give you R148k or as in your type of calculations R166k and still will sell you a 1 series at book.
Have you realy ever financed a car?
Taking into account this:

http://www.bmwfanatics.co.za/showthread.php?tid=63327&pid=1074459#pid1074459

Hi check for me too please.
2010 320D A/T exclusive pack 116 000km on.

How close to book value are a car for real?
Dealer offered me R88 000 under the value the insurance says the car is traded for....

Expert on this around on here...please inbox me.

Thx

 

[Flame]

Read up...like i said to this other guy i was also offerd this low...and so i continue my search and i found it.

Why would i lie of the price? Really what gain will i get?

Ill try copy and paste..im not close to a pc...im only on my phone.

And yes...i never bought a car cash yet all 15 was financed since i bought 1st one on 18.

 

[Sabretooth tiger]

Not saying you lying, just really want to see a BMW dealership offer you R148k, where another offered you R88 000 under what I assume you mean Retail, as that's the amount insurance companies use. All dealerships currently use auto bid, to give you a trade price. What dealership is this you using? Details of the car?

So if they indeed giving you R148 000, and still manage to sell you a 2014 116i at book than I would admit I am wrong, and I will buy you a bottle of whiskey of your choice next time I am in my home town of Upington, and we can have a few shots together (assuming you like whiskey, no offense if you don't) :thumbs:.

No matter how you debate it, loading is never going to "save" you money, but lets leave it at that.

 

[SharnThoR]

Well, another word of uselessness from me then...

I went to BMW Durban(there's 2 there), BMW Ballito, BMW Polokwane, BMW Kempton Park, BMW Bryanston, and 2 more that I cannot recall right now...

All of them lowballed me.

I also went to... Ford(twice), Nissan(3 times), GWM (twice), Kia (3 times), all of them lowballed me

Not a single one of the above could get me closer than a R60k shortfall...I really don't know how many more I can go and see.

Either way, I think it's settled anyway...I'm keeping my BMW

 

[Flame]

Ive send saber the otp...he can confirm later...i would have bought the car but it seems i did not get pre-approvel...

But yes..this was going to be a sweet deal as they give R181k for my car...and sell n 2014 116i sport with 30k on to me for R290k. Bargain i would have say!!

 

[tman]

No matter how you debate it, loading is never going to "save" you money, but lets leave it at that.

^This^

If you have R60k (or any other amount) that needs to be loaded to finance a new vehicle, that R60k essentially makes up a percentage of Original capital borrowed, and interest charged.

By loading, you are effectively taking compound interest already charged, and adding some more compound interest on top of that.

Basically, if you like to pay interest on interest, plus some more interest on interest, this is a great deal for you.