Horrible resale value on 6er

[polly]

Thanks for all the wonderful responses. Nice to get the community chatting - love it.
BTW I confirmed the 640d. No comments motor plan valid till 2020. I am happy.
I also called a few dealers friends of mine for a cover and was covered between 650 and 690 on the car.
Also most agree that because their is no book on the car they can't see it dropping significantly lower in the future provided I keep the mileage to a decent number. There is talk of interest rate hikes and escalating price increases so I guess now is the time to buy a car like this.
And like mentioned before a plain Jane 320d M sports cost the same as this, so it's a no brainer.
I also heard that the 8 series might replace the current 6 series. Not sure how true this is but if it is true I can't see how it will hurt the value of a 6er cause the 8 series will start at about 2bar

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[TurboLlew]

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

 

[TurboLlew]

Thanks for all the wonderful responses. Nice to get the community chatting - love it.
BTW I confirmed the 640d. No comments motor plan valid till 2020. I am happy.
I also called a few dealers friends of mine for a cover and was covered between 650 and 690 on the car.
Also most agree that because their is no book on the car they can't see it dropping significantly lower in the future provided I keep the mileage to a decent number. There is talk of interest rate hikes and escalating price increases so I guess now is the time to buy a car like this.
And like mentioned before a plain Jane 320d M sports cost the same as this, so it's a no brainer.
I also heard that the 8 series might replace the current 6 series. Not sure how true this is but if it is true I can't see how it will hurt the value of a 6er cause the 8 series will start at about 2bar

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Great :clapper: Hope the deal goes smoothly and be sure to create a post when you take delivery!

 

[Rayzor]

640d is an epic car, will be sad if they do away with the 6 series. They are one of my favorite shapes raise:

 

[deveng]

I'm not aware of a roof recall , heard about a drivetrain
Recall which didn't affect mine.

Do you have a link or more info ?

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

 

[TurboLlew]

Don't have a link - was a conversation I was having, but the two strips on either side of the roof start to lift up. Defect where roof meets roof rail as per the link which is closest I could find online. Not 100% sure of what the fix is. I know they were talking about the car definitely needing a trip to an ARC. Don't think it is going to be a difficult fix, but the logistics around it might be off-putting for a dealer looking to trade/buy a car if it needs to wait an additional 2-3 weeks before even going on sale.

Closest I could find: http://f80.bimmerpost.com/forums/showthread.php?p=19578433 and service bulletin SI B51 35 15. Perhaps John can help with more details?

I'm not aware of a roof recall , heard about a drivetrain
Recall which didn't affect mine.

Do you have a link or more info ?

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

 

[MikeR]

:thumbdo: cars are not investment, so dont cry when you lose money.

 

[TurboLlew]

:thumbdo: cars are not investment, so dont cry when you lose money.

I agree and I feel there is another way to look at it as well. You are essentially trading money for enjoyment, comfort, experiences, to some extent prestige, freedom etc. Those are intangibles beyond the metal, plastic and rubber that has an innate value attached to it. I have racked up near on 100000km on my M5 (with 35000+ more of extended plan remaining) and I get positive and negative kinds of responses: "I've ruined the value" or "I'm nuts" because it is their dream car and I haven't pickled it in my garage or more commonly "great to see you are actually enjoying it".

At this point, between road trips, reliability, daily use, special events, breakfast runs etc, the car has completely delivered against what I expected vs. what I paid. At this point it could sit in my garage for the rest of its life with a value of zero and I'd be happy. Likewise if I died tomorrow I'd die happy. If you worry about rationalising every single aspect of your life down to a value equation without considering the emotional or intangible aspects then you aren't really living life neither will your mind ever be free. Just my opinion That said different people are driven by different things. For me, what I drive and the experience it gives me are VERY high on my list of priorities. :rollsmile:

 

[Straight six]

Well said Llew:clapper:

 

[Kal23]

:thumbdo: cars are not investment, so dont cry when you lose money.

I get positive and negative kinds of responses: "I've ruined the value" or "I'm nuts" because it is their dream car and I haven't pickled it in my garage or more commonly "great to see you are actually enjoying it".

Why would you be nuts? :rollsmile: That makes no sense. Buy it, drive it, enjoy it I say.

 

[ChefDJ]

:thumbdo: cars are not investment, so dont cry when you lose money.

I agree and I feel there is another way to look at it as well. You are essentially trading money for enjoyment, comfort, experiences, to some extent prestige, freedom etc. Those are intangibles beyond the metal, plastic and rubber that has an innate value attached to it. I have racked up near on 100000km on my M5 (with 35000+ more of extended plan remaining) and I get positive and negative kinds of responses: "I've ruined the value" or "I'm nuts" because it is their dream car and I haven't pickled it in my garage or more commonly "great to see you are actually enjoying it".

At this point, between road trips, reliability, daily use, special events, breakfast runs etc, the car has completely delivered against what I expected vs. what I paid. At this point it could sit in my garage for the rest of its life with a value of zero and I'd be happy. Likewise if I died tomorrow I'd die happy. If you worry about rationalising every single aspect of your life down to a value equation without considering the emotional or intangible aspects then you aren't really living life neither will your mind ever be free. Just my opinion That said different people are driven by different things. For me, what I drive and the experience it gives me are VERY high on my list of priorities. :rollsmile:

It is this exact reasoning I have that baffles me when people spend almost 2 bar on a 7 series, and then use it once every 2 weeks or on sundays to go to church. Then they get a Picanto or similar and use it daily, to work and back, sitting in the worst of traffic, in seats much less comfortable than that of their 7 series, with an audio system much worse than that of their 7 series, with no climate control, much less safety, etc etc etc you get the point.

I personally would do it the opposite way around. Use a 7er daily to actually enjoy the times we hate most (work and back, in traffic) and use the Picanto to run up to the local shops every time the milk runs out.

 

[ChefDJ]

It's pointless paying such a high installment for a luxury car, plus the insurance that goes with it, for it to sit and not be used. Biggest waste of money ever, and yet it's common practice.

 

[MikeR]

@Llew - :coolShake: the right attitude.

If you buying something for the enjoyment or what ever, just understand what you getting into and what you getting out and your enjoyment is on the money.

 

[polly]

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

I don't think they worried about the recall. M3 are just not selling and their is too much stock available. I traded my yas blue to supertech last year march fully loaded. They still sitting with the car.

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[deveng]

I agree with you , the best option might be to trade down to a 320d and give that to my Dad, he's near 80 so between him and the current car I don't know lol...he's got a heavy foot

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

I don't think they worried about the recall. M3 are just not selling and their is too much stock available. I traded my yas blue to supertech last year march fully loaded. They still sitting with the car.

Sent from my SM-G935F using Tapatalk

---

I agree with you , the best option might be to trade down to a 320d and give that to my Dad, he's near 80 so between him and the current car I don't know lol...he's got a heavy foot

IMO
Guess with the downturn in economy its a buyers market for higher end cars especially ....

I've tried to look to offload my 2016 M3 recently and no dealer wants to even buy it (three dealers in JHB). I will be relocating in Q3/4 this year hence a sale that I should work on earnestly soon....

Met a guy a few years ago at a BMW performance course , in his 50s and I asked him about resell value of his new M6 that he bought...

He had wise words... there is no such thing , he bought it because of the emotive experiences it would bring him.

In retrospect, it makes sense to me... any car over R 350k , I'd be buying for the emotive aspects .... otherwise I'd buy a car in the < R 350 k range with proper safety features.

I surely bought my M3 for the emotive aspects coming from the F 30 335i ....

This is my view as well. Buy a car to enjoy it, look after it and mileage figures is nothing but a number... and if it is worth nothing, then so be it! Chances are higher that a special car in great condition WILL be worth something to the right person some point in the future. If you are paying too much for generic or mundane experiences (which IMHO is the case for many cars these days) then you only experience the worst aspects of this equation of course. Over R500K, I ask myself whether I would be happy driving the car for the rest of my life... I know R500K doesn't get you much these days, but to me it is still a lot of money.

On your M3 perhaps they are worried about the roof recall and logistics around it? I thought there was quite a bit of M3 demand.

I don't think they worried about the recall. M3 are just not selling and their is too much stock available. I traded my yas blue to supertech last year march fully loaded. They still sitting with the car.

Sent from my SM-G935F using Tapatalk

 

[Steph745]

New car prices are ridiculous across all brands and ranges, and the depreciation is just generally horrendous...I'm waiting for the Golf 7R to continue falling nicely the way it is, would like it in the 350k range

 

[NavZ]

Same goes for the older gen 6er.
My folks have one, it was R1m new, they paid a fraction of that while still in motor plan.
It's pointless selling it as you won't be able to find anything for that kind of money, especially since we know it's been looked after and the fact that you can drop the top and hear the v8… means you might as well drive it until you see a repair bill greater than the value of the car.

Once a 5/6/7er is near 5 years old it becomes a ticking time bomb in the eye of some. So they sell it at any price, to avoid scary bills.
The perfect time to pick one up at a steal and make sure it gets the love it needs.

 

[ChefDJ]

Same goes for the older gen 6er.
My folks have one, it was R1m new, they paid a fraction of that while still in motor plan.
It's pointless selling it as you won't be able to find anything for that kind of money, especially since we know it's been looked after and the fact that you can drop the top and hear the v8… means you might as well drive it until you see a repair bill greater than the value of the car.

Once a 5/6/7er is near 5 years old it becomes a ticking time bomb in the eye of some. So they sell it at any price, to avoid scary bills.
The perfect time to pick one up at a steal and make sure it gets the love it needs.

:withStu:

A luxury BMW is meant to be kept and driven until the wheels fall off.

You do not buy one with the thought of resale and future value in mind.

 

[TurboLlew]

Same goes for the older gen 6er.
My folks have one, it was R1m new, they paid a fraction of that while still in motor plan.
It's pointless selling it as you won't be able to find anything for that kind of money, especially since we know it's been looked after and the fact that you can drop the top and hear the v8… means you might as well drive it until you see a repair bill greater than the value of the car.

Once a 5/6/7er is near 5 years old it becomes a ticking time bomb in the eye of some. So they sell it at any price, to avoid scary bills.
The perfect time to pick one up at a steal and make sure it gets the love it needs.

Definitely a perception out there and perpetuated by dealers to a degree who want to sell a new car with 'full plan' and peace of mind. Well looked after examples won't require ridiculous maintenance. The motorplan costs that get quoted can get scary, but if you are out of plan you also would be repairing more than replacing entire systems.

By the time your car is out of plan IMHO it should be paid off and you should be building a buffer... if you have to replace a part, then so be it. If it has lasted over 5 years/100000km why think twice about replacing it or complaining about the cost? People I've encountered often fall into the camp of replace it or follow the logic of the car 'only being worth x' so you shouldn't spend alot of money on it (why you have such pitiful E36 and E46 M3s running around as well as x25/28/30s)

These days even cheap and simple cars can be very expensive to service, maintain and source parts for. Same goes for fuel economy and other rationale. Many folks see that a part is 'expensive' but are using a Citi Golf as a basis for comparison :roflol: We have an 'idea' of what a given part costs but it might be years out of date.

Different people are driven by different things and have different perceptions. If it wasn't for those who put little mileage on these cars after buying them new, there would be no nicely depreciated cars for us to buy LOL.

 

[paulkane]

It's pointless paying such a high installment for a luxury car, plus the insurance that goes with it, for it to sit and not be used. Biggest waste of money ever, and yet it's common practice.

I am looking at buying a 2015 640d Gran Coupe. The car sold new for approx R1.2m, selling now around R0.5m. 55000km. That’s R13/km in depreciation alone before interest and other costs. The original purchaser has lost north of R700,000 in less than 4 years.

I have another BM which I bought new for approx R480 selling now after 5 years for R270 with 80,000km - depreciation = R2,62 per km.

On the 640d I hope to drive it for at least 100,000km and expect it to be worth R300,000 at the end (with a depreciating Rand it may be worth more). That would mean my depreciation would be R2,30 per km.

And this whole exercise proves what? It doesn’t pay to buy high end cars new - buy them after a few years and drive them and enjoy them.