How much is my car worth?

[Shayel]

Hi. I have a 2008 BMW 320i sedan Sport Pack with sunroof,rear pdc's as extras. The book value is R163,000 but i still owe R201,000 on it. Are these cars hard to sell? The mileage is 53,000km. I was thinking of selling and getting something more economical for me.
Any advice would be appreciated...

 

[Carbon M3]

Maybe check what they go for in Autotrader, dealerships etc.

Is that R163k, trade or retail?

 

[Jakkals_F30]

agreed i think you won't get anything more economical than a 320i besides a 320d :mmm:
but then look at services if not under MP.

 

[Shayel]

Maybe check what they go for in Autotrader, dealerships etc.

Is that R163k, trade or retail?

It's trade. Once the motorplan is over and i've extended it to the maximum, i guess these cars are really expensive to maintain. I just don't know if it's worth my while keeping it and paying about R4300 per month and the balance of R120,000 residual in about 2 years time.

 

[Beast_Power]

That must be trade as people on autotrader are asking much more for their cars.

What car are you looking at, only cars I can think of that are lighter on fuel is maybe an Atos, or Toyota Tazz. And mark my words, if you sell your BMW for one of these smaller cars, you will not be happy until you are behind the steering wheel on a BMW again.

I cannot think that the 320 is so heavy on fuel, unless you have a heavy foot, and in that case even a smaller car is going heavy on fuel.

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If you took the car with a residual, I am afraid to say, but you are already screwed.

 

[Jakkals_F30]

I agree with beast there...

Smaller car, smaller engine to maintain same speed etc. as a 320 for instance will use more fuel.
I would say stick with the 320

 

[Shayel]

Had a Tazz but it was just stolen! Loved that car. It was freehold too. I'm an estate agent and on the road the whole day. Go to some dodgy areas too and when i pull up in a beamer it gets a bit uncomfortable and it's also harder to negotiate a good commission because clients assume you don't need the money when you're driving a fancy car, some of my clients also get intimidated and immediately think my services are expensive. I blended in so well with my tazz. Looking at the Polo Vivi 1.4

 

[XMAX]

Buying a car on residual is not a good idea.

Sure, I understand the whole lower repayment issue. But it will come back to bite you in the but.


Look at where you are now. you owe more than the car is worth.


Not trying to be negative.



you should keep your beemer. Whoever says that bmws are more expensive to maintain are talking kak. Polos, Corollas, and others are not cheap to maintain for the quality of car you are getting. BMW far outshines them in terms of quality, and cost to repair.


if you want something lighter on fuel, get a bicycle where the only fuel you use is your own personal power.


The thing about residual value vehicles is that the owners dont usually hang onto them for the term of the contract, choosing to rather get a newer car everytime the contract gets close to ending. The downside to this is that you never really own the car cos even at the end of the term, you still have to fork out a fair amount of cash.

I feel for you.

 

[Doomsdaya]

R4300 a month + another 120K for residual :whip:

Leme guess, your repayments excludes insurance :drink:

 

[freerider]

It is for this very reason that when I did have a car financed, I never took a residual. I'm so glad to be rid of car repayments and still be driving something desirable imp:

 

[AshG108]

as a basis:

Trade Price 210,800.00
Retail Price 236,600.00

then they use the mileage and extras help the price also, this is for the 320i model straight. so be careful when th dealers are calculating your book. i used the figures and got exactly the same figures all the time for my trade and retail values.

 

[Shayel]

Ok, so my BMW is up for sale. It's the hectic residual that i'm avoiding and high monthly installments. I have my eye on the Bluemotion 1.2 TDI .

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R4300 a month + another 120K for residual :whip:

Leme guess, your repayments excludes insurance :drink:

Yep, 6K a month with insurance!

 

[MikeR]

dude...suffer now and keep her - dont go get more debt - as Im sure you are tempted by another deal that includes a dam bubble payment at the end :slap:
I wish dealer would stop that sort of habit selling for the sake of selling to unsuspecting buyers.

 

[Shayel]

It's the R120,000 residual that i'm not looking forward to. I'll have to refinance it which will take another 2-3 years to pay off plus the cost to extend the motorplan. My main concern is the cost to maintain after motorplan.It's going to take me about 4 years until my car is free. First and last time i ever buy with residual.

 

[tcal69]

Yeah I know man, I think in America they have something call the Lease...

People like myself who like to mod and personalize my ride gets attach to them, so I want the car to belong to me after I pay for them you know... Unless is a upgrade:excited:

The best is if you can't afford the car, don't get it...