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      01-05-2014, 10:07 AM   #1
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Depreciation of a 2012 F30

So has anyone asked for a trade in valuation? out of curiosity.
I was looking at upgrading (just looking haha) to a new X5.
I nearly died at the 50% depreciation in a bit over 12 months, I know cars depreciate, 50% (which is minus all ORC) is the craziest thing I have ever heard.
No car I have ever had has depreciated that much so quickly.
I am guessing its a stuff up?
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      01-05-2014, 12:29 PM   #2
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I got a trade in quote a month ago sicker price on my car is $60,595. The offered me $44,250 car was 4 months old 3000 miles. Ridiculous.
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      01-05-2014, 02:48 PM   #3
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Trade in prices are not a realistic valuation. Don't forget, the dealer or 2nd hand car trader buys your car at a deeply discounted rate from you, which is as easy as it gets. Buy your new car, drive your car to the dealer, swap keys, do paperwork, say bye bye to your old car, hop into your new car and drive off. No fuss, no bother, They then have to make the trade in car roadworthy, which may or may not cost them many $$$. They still have to offer balance of factory warranty as well etc, etc, etc.

Then it goes on sale for an additional 25% (maybe more, maybe less) on top of what you traded your car in for. Now that's the real market price.

No stuff up, just low balling trade in figure.
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      01-05-2014, 03:44 PM   #4
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Along with what David said you find this type of depreciable asset (the car) looses most of the value in the first year and it slows down somewhat after that.

Obviously there are many variables with this but it is something to keep in mind when financing and deciding upon residuals for leases and so on.

Not that you have much option out there Matt but I wouldn't necessarily take the number offered as what the number would/will be.
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      01-05-2014, 05:22 PM   #5
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Originally Posted by HFW003 View Post
Not that you have much option out there Matt but I wouldn't necessarily take the number offered as what the number would/will be.
Especially if you got the quote from AC last time it was in down here. Bunch of "crooks" they are, in my personal opinion.
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      01-05-2014, 05:42 PM   #6
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If you're even remotely considering the X5 sell it privately unless you want to get gouged. David summed it up pretty well IMO.
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      01-05-2014, 06:22 PM   #7
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I tend to decide before I first walk in to do the deal what I want my changeover $ figure to be and that is my negotiating point to start from. Always do my homework around what my trade is worth privately too.

If I'm miles off and know I'm pushing sh!t uphill with a fork, then I just resign myself to the fact I'm going to have to sell privately and be patient.

I've been through this twice in the last 9 months and had to go through one each way, so to speak. And yes dealers are burglars so you have to be battle ready.

A lot of it comes down to so many variables like how much they need to move a car, day of the month etc.

The private sale of my last car followed by purchase of my 328i was worth an extra $20k made up of $12k extra on the private sale versus trade in offer and approx $6k better negotiating on new without a trade so it was a massive difference. As a side note at one BMW dealership they offered me base red book value on my trade so I did the same to him on the demo 328i. He didn't know what to do. I explained that red book obviously works in both directions and it's not a tool for the dealers benefit solely.

On my wife's car I traded a Pajero on a Land Rover Defender and the difference was only worth about $5k and the Pajero was a dog, no log book and service history etc and was a rushed job when I bought it second hand due to circumstances at the time and most definitely my worst purchase in my car history. So I was glad to be able to dump it at the dealer and not have to think about it and very much to my surprise the Land Rover dealer hit the the changeover $ after much back and forth nonsense that you go through. I couldn't saw them over quick enough. Interestingly when I spoke to the dealer a couple of weeks later because I'd forgotten to get my toll road tag out of it, he said that the wholesaler had decided they didn't want the pajero after they'd seen it and were stuck with having to take a massive hit on it. Hilarious. Was so nice to win one against them.

Anyway hope that helps any of you going forward.
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      01-05-2014, 06:33 PM   #8
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Quote:
Originally Posted by MP423 View Post
The private sale of my last car followed by purchase of my 328i was worth an extra $20k made up of $12k extra on the private sale versus trade in offer and approx $6k better negotiating on new without a trade so it was a massive difference. As a side note at one BMW dealership they offered me base red book value on my trade so I did the same to him on the demo 328i. He didn't know what to do. I explained that red book obviously works in both directions and it's not a tool for the dealers benefit solely.
Love it. I just don't have the confidence to do this and took a pretty large hit on my 135 when I traded it, but consoled myself that I was saving myself the angst of people wanting test drives, security concerns etc. That said, please don't burst my bubble
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      01-05-2014, 07:22 PM   #9
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Interesting responses, thanks guys, yeah I generally know how it works, I have traded a few cars in my time, just not BMW..
Although MrMikeHenry, I feel your pain.
My custom ordered F30, almost 13 months old, about 13,000ks
As new condition
$81,500 (minus ORC), AC price last week $40,000.. Insane, rip off
Like a friend of mine always said when referring to red book, I know thats dealers refer to, however red book has never sold a car.
I can't see how they can justify pricing up your trade on a base price of F30, not including options..
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      01-05-2014, 08:06 PM   #10
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Quote:
Originally Posted by digitallust View Post
Interesting responses, thanks guys, yeah I generally know how it works, I have traded a few cars in my time, just not BMW..
Although MrMikeHenry, I feel your pain.
My custom ordered F30, almost 13 months old, about 13,000ks
As new condition
$81,500 (minus ORC), AC price last week $40,000.. Insane, rip off
Like a friend of mine always said when referring to red book, I know thats dealers refer to, however red book has never sold a car.
I can't see how they can justify pricing up your trade on a base price of F30, not including options..
Typical dealer bs. It does't make sense but that seems to be how it is with those guys. I had to swallow that line too when I traded in my X1.

Redbook trade-in for a 2012 320d is $40,400 to 44,700, depreciating based on base price of $60,900. Don't you just love how dealers use Redbook?
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      01-05-2014, 11:30 PM   #11
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Quote:
Originally Posted by jctg View Post
Typical dealer bs. It does't make sense but that seems to be how it is with those guys. I had to swallow that line too when I traded in my X1.

Redbook trade-in for a 2012 320d is $40,400 to 44,700, depreciating based on base price of $60,900. Don't you just love how dealers use Redbook?
It makes me wonder how they legally can get away with it, I mean looking at the bigger picture, there should almost be a disclaimer when you buy a car saying, a base price of $60,900 is what we depreciate your car on and if you spend another $20,000 on options, that will be $0 once you drive away and have zero reflection on your future value?

So what intrigues me,, is the full circle customers.... with guaranteed future value? who's been given a guaranteed value for three years time, if they decided to buy the car out right. Based on my cars value now after 12 months, after 3 years it would be a value $10-$15,000? Yeah right, more like $40,000 after three years?

Annoyed!
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      01-06-2014, 02:24 AM   #12
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Quote:
Originally Posted by digitallust View Post
It makes me wonder how they legally can get away with it, I mean looking at the bigger picture, there should almost be a disclaimer when you buy a car saying, a base price of $60,900 is what we depreciate your car on and if you spend another $20,000 on options, that will be $0 once you drive away and have zero reflection on your future value?

So what intrigues me,, is the full circle customers.... with guaranteed future value? who's been given a guaranteed value for three years time, if they decided to buy the car out right. Based on my cars value now after 12 months, after 3 years it would be a value $10-$15,000? Yeah right, more like $40,000 after three years?

Annoyed!
Full Circle on my M Sport (similarly valued to yours), after four years, will guarantee a value of $30k, given agreed usage and other conditions. Not quite what I had hoped for, but in the ball park.

I figure that I will be able to sell it privately for approx $40k at that time, if I choose to sell, but I am actually thinking of keeping this one for my wife, so the depreciation becomes irrelevant for me.

That AW M235i with the M performance kit does look very nice for my next work taxi.

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      01-06-2014, 03:36 AM   #13
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Quote:
Originally Posted by digitallust View Post
So what intrigues me,, is the full circle customers.... with guaranteed future value? who's been given a guaranteed value for three years time, if they decided to buy the car out right. Based on my cars value now after 12 months, after 3 years it would be a value $10-$15,000? Yeah right, more like $40,000 after three years?
All Full Circle really means is that as long as you remain within their stipulation (i.e. mileage) it doesn't matter how much you have outstanding in the lease, you can walk away, nothing more to pay. If you decide to buy the car outright then you pay the payout amount - it has nothing to do with the value of the car.
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      01-06-2014, 04:25 AM   #14
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Quote:
Originally Posted by digitallust View Post
So has anyone asked for a trade in valuation? out of curiosity.
I was looking at upgrading (just looking haha) to a new X5.
I nearly died at the 50% depreciation in a bit over 12 months, I know cars depreciate, 50% (which is minus all ORC) is the craziest thing I have ever heard.
No car I have ever had has depreciated that much so quickly.
I am guessing its a stuff up?
As a person that has just recently sold their F30 i can tell you its no fun selling early. you are always bound to loose heaps, but in saying that i think your dealer is really trying to have a go at you.

When i brought my car into the dealer for a quote on a trade i would have lost about 30% whilst thats painful its still heaps more than what you are quoted.
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      01-06-2014, 04:39 AM   #15
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Originally Posted by jctg View Post
All Full Circle really means is that as long as you remain within their stipulation (i.e. mileage) it doesn't matter how much you have outstanding in the lease, you can walk away, nothing more to pay. If you decide to buy the car outright then you pay the payout amount - it has nothing to do with the value of the car.
And BMW charges you a higher interest rate (8.29%) for full circle. When you consider cost of 1 year extended warranty + Insurance + Dealer Origination Fee + Loan Establishment fee added to your loan it is not good at all. Infact, it is a really good extra money making scheme for BMW and its dealerships.
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      01-06-2014, 05:20 AM   #16
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Quote:
Originally Posted by digitallust View Post
So has anyone asked for a trade in valuation? out of curiosity.
I was looking at upgrading (just looking haha) to a new X5.
I nearly died at the 50% depreciation in a bit over 12 months, I know cars depreciate, 50% (which is minus all ORC) is the craziest thing I have ever heard.
No car I have ever had has depreciated that much so quickly.
I am guessing its a stuff up?
After previous experience with AC I have to concur with Simon.

If you are serious about an X5 try the other dealership in Perth. I know that both are owned by the same company, but I found the new dealership a lot more enthusiastic about doing a deal, instead of the take it or leave it attitude of AC.

As a result I took my business to the new dealership and will never set foot in AC again.
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      01-06-2014, 05:59 AM   #17
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A BMW dealer offered me 17.5k for my Evo, words were exchanged.... I sold it on carsales in 4 days for 35.5k, could have held out for a few more $$$ but timing (and sick of the crazy SMSs) was more important. Kings Way is a crap place to get to anyway

Understand they are running a business but sometimes people get greedy. You just have to know what your car is really worth - be honest with yourself. The other thing is the real world prices on F30's seems to have dropped a fair bit since the 2012 hit the road, that will be contributing.

Ring Stratton, get them to price a X5 for you, they also wholesale the trade if you can be bothered filling out the form and taking pics. No obligation, they will just come back to you with an offer. Also start tracking the price and days active on Carsales, all that matters is a sale, if the ad has been up for 45 days then if probably isn't going to sell for anything near the advertised price! You can assume most private sales go for 10-15% under the advertised rate.
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      01-06-2014, 03:55 PM   #18
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As a comparison, I sold my E90 325i just over 1 year ago for $28k. Dealer offered $17k.
Yes, I had to pay for roadworthy, 2 tyres (replaced a few months prior to sale), front brakes (replaced a few months prior to sale), I had it detailed for sale and of course paid top $ for the best ad in Carsales. So it cost me a few $, but still made thousands more than a trade in.
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      01-06-2014, 09:30 PM   #19
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Quote:
Originally Posted by salad onion View Post
And BMW charges you a higher interest rate (8.29%) for full circle. When you consider cost of 1 year extended warranty + Insurance + Dealer Origination Fee + Loan Establishment fee added to your loan it is not good at all. Infact, it is a really good extra money making scheme for BMW and its dealerships.
It depends on what you can negotiate. At the end of the day what you end up paying is the result of a tug of war between how much you want the car and how much they want to sell you the car.

One of the good things about FC is that you can negotiate on monthly repayment (once you have set the parameters of duration and residual percentage). It won't benefit the dealer if they load up your residual to reduce monthly repayment because at the end of the day you can hand the car back and owe them nothing more. So anything you can reduce on monthly repayment is genuine reduction in cost.
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      01-07-2014, 02:35 AM   #20
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I think i'm only get charged 6% on full circle

In regards to depreciation 50% in 12 months is fairly heavy but what you were offered was just the dealer's offer - you don't have to take it. Its not really the "wrong" thing for them to give you a low ball... its a business they're running.

I looked on Carsales last month and generally speaking my car in 12 months has depreciated by 10% to 15%, which is fairly standard.

If you are really keen on selling your car you should take the time to do it privately. I've owned about 10 cars in the last 12 years and generally speaking making your car the cheapest online so it would sell within 2 to 4 weeks is still 20% better than what the dealer would give you on trade in.
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      01-07-2014, 05:51 AM   #21
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Quote:
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I think i'm only get charged 6% on full circle

In regards to depreciation 50% in 12 months is fairly heavy but what you were offered was just the dealer's offer - you don't have to take it. Its not really the "wrong" thing for them to give you a low ball... its a business they're running.

I looked on Carsales last month and generally speaking my car in 12 months has depreciated by 10% to 15%, which is fairly standard.

If you are really keen on selling your car you should take the time to do it privately. I've owned about 10 cars in the last 12 years and generally speaking making your car the cheapest online so it would sell within 2 to 4 weeks is still 20% better than what the dealer would give you on trade in.
Yeah true, however its not that I want to sell my F30 right now, I was just interesting in the X5 and thought I would throw it out there.. 50% is ridiculous though, even my G6E didn't depreciate that much, no where near.. the F30 hasn't even had its first service its that new still .... ah well.

AC has turned me off BMW .... maybe I will just by a new C class.. they are going to give the F30 a run for their money..

Looking on carsales, its very hard to find a car matching my options etc.. to give a true indication... surprising how many people don't option the HID Bi Xenon setup etc

Ive also had a fair few cars in the past 17 years (since I got my license) and never had a car with that much initial depreciation (even if its the dealers initial price).. although this is my first BMW.
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      01-07-2014, 06:03 AM   #22
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I will be looking for a new car in around two and half years and I'll be looking at the Merc as I too have been soured with dealing with BMW.

I'm still eagerly awaiting the details on the new Mustang and specifically the GT350.
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