F80 M3 CP Values

[jimmyca69]

Have had my F80 M3 CP for 2 years give or take a few days and so thoughts have started around what I will do this time next year when my 3yr PCP ends.

I was just wondering if anyone who bought their F80 CP before me had looked into options particularly those on PCP and how it compares to the GFV?

Keen to understand whether it will have decent equity in it or whether the GFV will mean little wiggle room.

Thanks

[Wills2]

I wouldn't think you'd have much in it if anything BMWFS run these things very tightly and with 6 month old CPs moving at mid 40s in the trade it doesn't give a dealer much room to bid generously on a 3 year old car against the GFV.

[jimmyca69]

Originally Posted by Wills2

I wouldn't think you'd have much in it if anything BMWFS run these things very tightly and with 6 month old CPs moving at mid 40s in the trade it doesn't give a dealer much room to bid generously on a 3 year old car against the GFV.

You could very well be right, but I am keen to see what people have been offered to see if that is the case.

[Wills2]

Originally Posted by jamesca80

You could very well be right, but I am keen to see what people have been offered to see if that is the case.

My experience is you're generally underwater all the way through and at the end you get the GFV nothing more from the dealer as there is no incentive to offer more, private sale you could get more.

The model variant doesn't really matter that's my experience over 5 different M cars standard or CP.

As an exercise get your current settlement from BMWFS then ask your supplying dealer to bid you on your car.

[jimmyca69]

Originally Posted by Wills2

My experience is you're generally underwater all the way through and at the end you get the GFV nothing more from the dealer as there is no incentive to offer more, private sale you could get more.

The model variant doesn't really matter that's my experience over 5 different M cars standard or CP.

As an exercise get your current settlement from BMWFS then ask your supplying dealer to bid you on your car.

Thanks - useful to know. I think I deep down realised that even if market is decent (and BMW hadn't flooded the market with F8x) that they wouldn't usually offer more than GFV, and that even if they did it would only be part of keeping you on a BMWFS deal and a good p/ex deal would replace any discount on new car etc.

I will contact BMWFS for a settlement figure, will that show what the current situation is as of now?

I will also contact my sales guy from supplying dealer. Can they calculate current prediction on what it might be worth this time next year? or only so far ahead?

[Wills2]

Originally Posted by jamesca80

Thanks - useful to know. I think I deep down realised that even if market is decent (and BMW hadn't flooded the market with F8x) that they wouldn't usually offer more than GFV, and that even if they did it would only be part of keeping you on a BMWFS deal and a good p/ex deal would replace any discount on new car etc.

I will contact BMWFS for a settlement figure, will that show what the current situation is as of now?

I will also contact my sales guy from supplying dealer. Can they calculate current prediction on what it might be worth this time next year? or only so far ahead?

A settlement figure from BMWFS will show you what you need to pay the settle agreement in it's current state.

Not with any accuracy (apart from referring you to the GFV) they can tell you what they will pay for it today and you can then check that against the settlement amount.

Mileage will have a factor as well in what you're offered the lower the better!

[dopper99]

Its funny that every time I've asked for a settlement figure in the past, you will get a phone call from your supplying dealer trying to sell you a new car!

Thats because you asking for the figure triggers something and lets the supplying dealer know, so they hope your are looking for another car.

[higgy]

Yep - I ended up buying an M3 CP from my local dealer after they called me up following my request for a settlement on the 440i. Offered me a great deal too ...

[jimmyca69]

Have requested a settlement figure to see what the current situation is.

I have no plans of changing car now but be good to know, at the moment the plans are to purchase it at the end of the agreement and keep the car but depends on the deals.

[lethbridge]

If you don't keep your F80 what were you currently thinking of buying this time next year?

My experience is that balloon payments are usually there or thereabouts unless your mileage is much different to what was in your PCP (which can be a good or bad thing based on the interest rate you were paying - on 0% it makes sense to set mileage to the minimum as you are maximising the interest free loan). I have bought and sold at the end of PCPs and made some money but only because I'd sell privately - selling back to a dealer would have been break even or less.

Getting a settlement now should give you a worst case scenario as you are taking a bigger depreciation hit relative to the age of the car. Another approach is simply look at what 3 year old M3 CP cars similar to yours are selling for now (mileage being the most important thing - options count for little). To be even more accurate get a reg or two and put it into a car valuation tool to see what the trade in figure is. Compare that figure to your balloon figure... Obviously there are lots of unknowns in thinking about future values - Brexit being top of the list - but the guys that set GFV are smart financiers so they don't get it that wrong that often...

[jimmyca69]

Originally Posted by lethbridge

If you don't keep your F80 what were you currently thinking of buying this time next year?

My experience is that balloon payments are usually there or thereabouts unless your mileage is much different to what was in your PCP (which can be a good or bad thing based on the interest rate you were paying - on 0% it makes sense to set mileage to the minimum as you are maximising the interest free loan). I have bought and sold at the end of PCPs and made some money but only because I'd sell privately - selling back to a dealer would have been break even or less.

Getting a settlement now should give you a worst case scenario as you are taking a bigger depreciation hit relative to the age of the car. Another approach is simply look at what 3 year old M3 CP cars similar to yours are selling for now (mileage being the most important thing - options count for little). To be even more accurate get a reg or two and put it into a car valuation tool to see what the trade in figure is. Compare that figure to your balloon figure... Obviously there are lots of unknowns in thinking about future values - Brexit being top of the list - but the guys that set GFV are smart financiers so they don't get it that wrong that often...

I was potentially looking at something slightly cheaper on the monthlies as we have just bought a new house. Something around £400 p/m with a bit of deposit plus whatever equity I could release from M3 if sold privately or p/ex.

I have looked at sales prices for the early competition packs and on paper the prices look good, however what I am struggling to find is what has actually sold and for how much! The unknown at the moment is that there is only the 2016 CPs to compare with, no 2015 (55) plate equivalents that I could look at them. AT says £41k private for mine as is currently, £39k trade in(WBAC was £38k) so will see what the early settlement figure comes back with.

[lethbridge]

Originally Posted by jamesca80

I was potentially looking at something slightly cheaper on the monthlies as we have just bought a new house. Something around £400 p/m with a bit of deposit plus whatever equity I could release from M3 if sold privately or p/ex.

I have looked at sales prices for the early competition packs and on paper the prices look good, however what I am struggling to find is what has actually sold and for how much! The unknown at the moment is that there is only the 2016 CPs to compare with, no 2015 (55) plate equivalents that I could look at them. AT says £41k private for mine as is currently, £39k trade in(WBAC was £38k) so will see what the early settlement figure comes back with.

Yes - was forgetting you'd struggle to find a 55 plate CP... I would guess it will drop another £5-7k or so and yours would be in the £35k region this time next year assuming low miles? Had a quick look at some cars - I don't think there is a massive difference between CP & non CP values (probably £1-2K) - the most sensitive figure will be your mileage - so you could look at non CP cars with that in mind.

If I was in your position I think I'd just plan to keep the car... Check the way you are financing it is still a good deal too as if you are on a high APR then you may be able to improve things by refinancing it. Every time you buy/sell you lose a chunk of money so unless you are really downsizing a lot you will not save any money in the long term + you've got a fantastic car that a lower budget replacement will not match. Keep it a couple more years and then see where things are at - you may be able to chop in for a G80 by then

[jimmyca69]

Managed to get both a settlement figure and a trade in price.

Settlement = £33k and trade in = £41k. (edit: also got £38k trade in price from Audi)

What I am trying to get my head around is that with 12 months to go, if that 'equity' will decrease as it approaches 3yrs old or will increase as the depreciation eases off but im still paying the same per month? Other factors obviously include the market and if the predicted tumble occurs then it will be affected.

As predicted as soon as I got my settlement figure my dealer called to see what I was looking at next and arranged meeting this week to go through options as they have some wonderful deals....

[Wills2]

Originally Posted by jamesca80

Managed to get both a settlement figure and a trade in price.

Settlement = £33k and trade in = £41k. (edit: also got £38k trade in price from Audi)

What I am trying to get my head around is that with 12 months to go, if that 'equity' will decrease as it approaches 3yrs old or will increase as the depreciation eases off but im still paying the same per month? Other factors obviously include the market and if the predicted tumble occurs then it will be affected.

As predicted as soon as I got my settlement figure my dealer called to see what I was looking at next and arranged meeting this week to go through options as they have some wonderful deals....

Well I think that's very good I expected the worst

To have 9k in an M car on a PCP after 2 years is incredible (I need to look at what I'm doing wrong!)

[robwils]

Originally Posted by Wills2

To have 9k in an M car on a PCP after 2 years is incredible (I need to look at what I'm doing wrong!)

Put in about 25K deposit and you might be lucky

[Wills2]

Originally Posted by robwils

Put in about 25K deposit and you might be lucky

True! The trade in value is very good as well 41k for 2 year old car is good for a trade bid.

[jimmyca69]

Originally Posted by robwils

Put in about 25K deposit and you might be lucky

£10k deposit actually

£41k I can only see being given towards a deal that sees me making up difference in over inflated price for another car.

Audi and WBAC going for £38k so realistically £5k is not too bad from year 2 of 3.