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      12-21-2015, 04:30 AM   #1
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Friend is thinking of a used 7 Series

Friend of mine is looking for a used 7 Series (ideally in the Kent area) and likes the spec on this one.

http://www.autotrader.co.uk/classifi...ault&logcode=p

It's about what he wants to spend , so does this look like a good deal?
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      12-21-2015, 04:38 AM   #2
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Used 7 series are a great buy used.

Also consider BMW car auctions as well.
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      12-21-2015, 04:45 AM   #3
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I don't like the elephant hide all over the dash and door cards, in general the 7 is nice plus that is well speced otherwise.
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      12-21-2015, 12:08 PM   #4
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Quote:
Originally Posted by Brigand View Post
Used 7 series are a great buy used.

Also consider BMW car auctions as well.
Yup, I bought my last 750i from auction. Was ex-BMW directors car, fully loaded for a frankly daft price.

I'd check but last time I checked service pack only goes to 50k so servicing until 2018 is a complete lie as it's already done 49k. Good news is at least it's still under warranty. My advice is extend it. It was somewhere around 600 for mine a year though I actually sold it just before deciding. Not a lot went wrong with mine but the one thing that did (gearbox issue) cost 3.5k.
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      12-21-2015, 12:29 PM   #5
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Wow! That's spectacular value for money. I might have to add a 7 series to the 5/6 series options I'm considering.
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      12-21-2015, 03:16 PM   #6
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You got to love depreciation ...
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      12-21-2015, 03:30 PM   #7
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Quote:
Originally Posted by Tengocity View Post
Wow! That's spectacular value for money. I might have to add a 7 series to the 5/6 series options I'm considering.
Said it many times before Terry. You get a WHOLE lot of car for m way miles. Still miss my cooled cup holders.....
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      12-21-2015, 03:31 PM   #8
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Quote:
Originally Posted by gtsussex View Post
Yup, I bought my last 750i from auction. Was ex-BMW directors car, fully loaded for a frankly daft price.

I'd check but last time I checked service pack only goes to 50k so servicing until 2018 is a complete lie as it's already done 49k. Good news is at least it's still under warranty. My advice is extend it. It was somewhere around 600 for mine a year though I actually sold it just before deciding. Not a lot went wrong with mine but the one thing that did (gearbox issue) cost 3.5k.
People tend to overlook BMW and dealer auctions, you can get some real good bargains.

Only time I have really made money on used cars lol.
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      12-21-2015, 03:43 PM   #9
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People tend to overlook BMW and dealer auctions, you can get some real good bargains.

Only time I have really made money on used cars lol.
Especially with the big depreciators. Just make sure they are still in warranty and you can't go wrong. All the ex BMW cars are condition and history guaranteed. Always worth a trip up to see the cars and it's fun. Just stick to your budget. I missed a 760 by 300 which hacked me off as was bloody spotless but it has to stop somewhere. 750 was probably more sensible anyway but I've never owned a V12 (yet).
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      12-21-2015, 04:42 PM   #10
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Some bird that has children at my little boys nursery has one on a 14 plate I think, parked next to my 3 series its frikkin huge, lovely car in silver and M Sport spec.
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      12-21-2015, 06:53 PM   #11
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So for shits and giggles I specced up a new 7 with some toys.

101,000, eeek
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      12-21-2015, 06:56 PM   #12
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So for shits and giggles I specced up a new 7 with some toys.

101,000, eeek
If a business was paying for it I reckon it's a better option than the obligatory S class.
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      12-21-2015, 07:12 PM   #13
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If a business was paying for it I reckon it's a better option than the obligatory S class.
It's not as you can only write off 7% off value pa so you have to take a hit on P&L when you dispose. That's where i8 works as you can write off 100% in first year.
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      12-21-2015, 07:18 PM   #14
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Quote:
Originally Posted by gtsussex View Post
It's not as you can only write off 7% off value pa so you have to take a hit on P&L when you dispose. That's where i8 works as you can write off 100% in first year.
But still better than the obligatory S class?

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      12-21-2015, 07:23 PM   #15
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But still better than the obligatory S class?

Both write off the same from a company tax point of view. Boils down to what you're going to loose financially.
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      12-22-2015, 03:45 AM   #16
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Quote:
Originally Posted by gtsussex View Post
It's not as you can only write off 7% off value pa so you have to take a hit on P&L when you dispose. That's where i8 works as you can write off 100% in first year.
But you then have to declare the profit on sale and pay the tax at disposal. Could be significant as you have written an expensive car down to zero and it may be worth 50% of new cost when selling.
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      12-22-2015, 05:02 AM   #17
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But you then have to declare the profit on sale and pay the tax at disposal. Could be significant as you have written an expensive car down to zero and it may be worth 50% of new cost when selling.
I am assuming you'll keep it for a little bit
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      12-22-2015, 12:51 PM   #18
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Quote:
Originally Posted by gtsussex View Post
It's not as you can only write off 7% off value pa so you have to take a hit on P&L when you dispose. That's where i8 works as you can write off 100% in first year.
I'm guessing you are basing the 100% write off on your FYA but doesn't that only apply to Sole Traders and Partnerships?
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