Yes it might be worth waiting it out, prices at the moment are not great. I thought I would be in a good position to change but not currently as I found out. I think I just got to keep an eye on the market now 👍
I agree, it's not right is it. I actually questioned one dealer that had their car up for 29k but actually only worth 23k, how is that right. So Im buying a car worth the same as mine but it's going to cost me a lot more. It's a crazy time, where dealers are trying to make a lot of money. It's very wrong for sure!
Yes, used car prices have taken a hammering unfortunately. I recently traded my BMW 328i 14 plate for a 22 plate BMW M340 i. We buy any car were offering only £7K for my car. Thankfully the dealer I bought from agreed to give me £8K for my car, so I somewhat managed to get a fair deal for it. The dealer I spoke with mentioned that used car prices have taken a hammering over the last 3 months or so. However, he told me they are having to offer more on part exchanges in order to get sales. Hopefully you manage to get the car you're after.
Ok that's good to know. It's just finding the right dealer to give you a good deal I guess and then having the car you want on a good deal. I think I'll just have to keep looking around till the right deal comes along and the right price for mine. Enjoy the M340i, really like them a lot 💪
@@the_jnlt_channel yes, its definitely about finding the right dealer. I bought my new car from Group 1 Brighton. The sales rep I dealt with was pretty good. Literally no fuss and got it all sorted swiftly. He told me that the 1 series is popular in Brighton and that they sell a lot of them due to tight parking spaces. You could give him/them a shout, but I guess it depends on whether you like any of their stock.
@@jcvdvandd thanks for letting me know that. I'll have a look but like you say it all comes down to the stock they have and what deal they can do on the cars they got. Thanks though, definitely will take a look 👍
They all are taking the piss jas you just have to haggle with the dealers as new car prices have gone through the roof but haggle mate!!😬 Good luck & will be looking forward to see what happens?🤞🏼 👍
What I don’t understand is you get significant less money part ex but the car you are buying is significantly higher than its trade in price , dealers being greedy ?
Yea it's crazy tbh. The cars I'm looking at on the forecourt are around 5k over priced. But I guess that's how they are still making their money in this current market. So for example if they give me 21k for mine, they would put it on the forecourt between 27k to 28k. So they are using the current market to their advantage.
When I chopped in my 530e (2018) for my M135i, BMW offered me 15k for it where as I paid 22k for it less than 6 months prior. I looked at all options, including motorway etc. and was being offered 16k. Ended up taking out a loan, settling the finance, then sold it privately for 21k and made a profit on the car after settling the loan.
@@the_jnlt_channel paid it off as soon as I had been paid for the car. And no fees, just make sure that you either pay off the finance with credit cards or a loan that doesn’t penalise early repayments. By no means am I qualified to give financial advice, but if you can either get a few cards and pay it off, or take out a loan for the amount, you won’t be out of pocket.
Thanks for the advice mate, will take a little look into it. What about when you sold the car, did you have your m135i right away or was you without a car?
That's so annoying that the dealers are coming out with daft offers! Just a thought but is it possible to sell it privately on your Instagram or Facebook? Just thinking you could potentially find someone who values how much effort you've put into the finish of your car rather than the dealerships who couldn't care less about swirl marks!
Yeah it is annoying. So I did think about those options and could probably get around 25k for it but then I would be without a car as I only have this car. Also I still don't know what car I want and if the right one with the right spec is going to come up as there aren't many around. That why if I can do it though the dealer then its easier, but didn't expect to get such bad trade prices 👎
Supply and demand. 2020 happened and new car supply crashed so used car prices shot up. This held through to the chip shortages as well. Only recently as the supply of new cars has begun to increase has this begun to affect the used car market. I can't remember where i saw, but retained values of cars are returning to pre-2020 percentages. Also, demand for SUV's (and cuvs) is on an ever upward trajectory, with corresponding decline in demand for bmw 1er size cars (ford is about to cull the Focus!!!!!!!!! And my beloved fiesta is gone but the puma remains). Couple that with new car prices going ever upwards (inflation, world influences, safety crap, emissions crap, etc) and you're in a position that i imagine many others are. And its very sad.
Yeah it's a hard one, frustrating as well because if I did this a few months back I was in a good position. My car has lost like 3k in a few months, crazy in my eyes. I guess the cars I'm looking at are performance SUV and they are holding their money well still. But I have noticed that my car on the forecourt is still at a high price and it's more of a problem for anyone looking to trade in as dealers are offering very much under what they are worth. I'm hoping in the new year I can get somewhere with it 🙏
I think we've just returned to the norm. For a few years the dealers have paid way over, due to the lack of new cars, now the new cars are making their way back, it's reverted to the way it always has been, low PX values. I totally understand you're OK the wrong end if it and it's a ball ache to not be able to do what you want but you may just be in the, wrong place, wrong time situation. As much as you may not want to, keeping the bimmer and reducing the finance may be the way forward, at least in the short term. I wish you luck. All the best 👍.
@@decker0373 yes looks like it! Funny thing about it all is the dealers don't even want to do any deals either. I think you're right, Just wait it out a bit long and hopefully once I've paid off more of the finance, I'll be in a better place. Thanks for the comment 🙏
Yeah it's a joke mate, crazy differences to what I could have got. Yeah I don't know how the market will go, the only good thing is I don't do many miles, so hopefully the price won't drop much more!
@@BMWFAMuk yeah I'm reading as well. I also hear that price might be better after the new year when things settle down a bit. I am looking at BMWs as well, there are a good handful of cars in looking into 👍
All prices are relevant. So your car price has gone down. So is the car you are buying. Cars are the number one way to stay poor if you want to have a nice car every few years. !!
Thanks for the comment! The problem is the cars I'm looking at haven't gone down as the dealers still got them marked up at higher prices, way over what they are worth but offering a lot less than what my car is actually worth. That's the problem 😕
@@the_jnlt_channel market forces will not allowed that to continue. Dealers are basically having to adjust prices. They will rely on easy buyers first who fall for their sales patter to limit loses Ignore it. Look around. I used to be a car dealer. If you see a car you like. Sell yours via car wow who are the best other than a private sale. You are then in a very strong position as a cash buyer. Go in low and barter hard!!
@@rumbey1 yeah I'm hoping they will drop soon, not in a massive rush as I like my car just want something bigger! Yeah that's an option to sell via car woow or sites like this to get the best price for sure. Just going to keep an eye on the prices for now 👍
I was thinking of getting a newer BMW my bm is on a 71 reg but thinking of keeping it for another year or two now.
Yes it might be worth waiting it out, prices at the moment are not great. I thought I would be in a good position to change but not currently as I found out. I think I just got to keep an eye on the market now 👍
Only the car I'm selling as a private owner has devalued - The dealers prices are exactly the same though, they're not lowering their prices!
I agree, it's not right is it. I actually questioned one dealer that had their car up for 29k but actually only worth 23k, how is that right. So Im buying a car worth the same as mine but it's going to cost me a lot more. It's a crazy time, where dealers are trying to make a lot of money. It's very wrong for sure!
Yes, used car prices have taken a hammering unfortunately. I recently traded my BMW 328i 14 plate for a 22 plate BMW M340 i. We buy any car were offering only £7K for my car. Thankfully the dealer I bought from agreed to give me £8K for my car, so I somewhat managed to get a fair deal for it. The dealer I spoke with mentioned that used car prices have taken a hammering over the last 3 months or so. However, he told me they are having to offer more on part exchanges in order to get sales. Hopefully you manage to get the car you're after.
Ok that's good to know. It's just finding the right dealer to give you a good deal I guess and then having the car you want on a good deal. I think I'll just have to keep looking around till the right deal comes along and the right price for mine. Enjoy the M340i, really like them a lot 💪
@@the_jnlt_channel yes, its definitely about finding the right dealer. I bought my new car from Group 1 Brighton. The sales rep I dealt with was pretty good. Literally no fuss and got it all sorted swiftly. He told me that the 1 series is popular in Brighton and that they sell a lot of them due to tight parking spaces. You could give him/them a shout, but I guess it depends on whether you like any of their stock.
@@jcvdvandd thanks for letting me know that. I'll have a look but like you say it all comes down to the stock they have and what deal they can do on the cars they got. Thanks though, definitely will take a look 👍
@@the_jnlt_channel no worries mate. If you do see anything you like, the chap's name that I dealt with is Ian James.
@@jcvdvandd thanks mate 🙌
They all are taking the piss jas you just have to haggle with the dealers as new car prices have gone through the roof but haggle mate!!😬 Good luck & will be looking forward to see what happens?🤞🏼 👍
Thanks mate. I'm trying, Just got to play the long game at the moment.
yes my car book price value has also dropped 1-2k over the last couple of months.
SUVs are in high demand and they're holding value well.
It's a shame how it's gone, but also annoying if you are trying to upgrade your car but you haven't got a lot of money in the car 👎
What I don’t understand is you get significant less money part ex but the car you are buying is significantly higher than its trade in price , dealers being greedy ?
Yea it's crazy tbh. The cars I'm looking at on the forecourt are around 5k over priced. But I guess that's how they are still making their money in this current market. So for example if they give me 21k for mine, they would put it on the forecourt between 27k to 28k. So they are using the current market to their advantage.
When I chopped in my 530e (2018) for my M135i, BMW offered me 15k for it where as I paid 22k for it less than 6 months prior.
I looked at all options, including motorway etc. and was being offered 16k.
Ended up taking out a loan, settling the finance, then sold it privately for 21k and made a profit on the car after settling the loan.
Ok that's not a bad idea at all. Did you pay the load off straight away? If you did, did it incur any fees?
@@the_jnlt_channel paid it off as soon as I had been paid for the car. And no fees, just make sure that you either pay off the finance with credit cards or a loan that doesn’t penalise early repayments.
By no means am I qualified to give financial advice, but if you can either get a few cards and pay it off, or take out a loan for the amount, you won’t be out of pocket.
Thanks for the advice mate, will take a little look into it. What about when you sold the car, did you have your m135i right away or was you without a car?
That's so annoying that the dealers are coming out with daft offers! Just a thought but is it possible to sell it privately on your Instagram or Facebook? Just thinking you could potentially find someone who values how much effort you've put into the finish of your car rather than the dealerships who couldn't care less about swirl marks!
Yeah it is annoying. So I did think about those options and could probably get around 25k for it but then I would be without a car as I only have this car. Also I still don't know what car I want and if the right one with the right spec is going to come up as there aren't many around. That why if I can do it though the dealer then its easier, but didn't expect to get such bad trade prices 👎
@@the_jnlt_channel That makes sense, hopefully you get some better offers soon!
Fingers crossed, might just wait till the new year now and see what the market is like 🤷🏻♂️
Seeing the same crash in used car prices in the States.
Ok that's interesting, I did wonder if it was the case across the pond. Didn't know if it was as bad as the UK market?
Supply and demand. 2020 happened and new car supply crashed so used car prices shot up. This held through to the chip shortages as well. Only recently as the supply of new cars has begun to increase has this begun to affect the used car market. I can't remember where i saw, but retained values of cars are returning to pre-2020 percentages. Also, demand for SUV's (and cuvs) is on an ever upward trajectory, with corresponding decline in demand for bmw 1er size cars (ford is about to cull the Focus!!!!!!!!! And my beloved fiesta is gone but the puma remains).
Couple that with new car prices going ever upwards (inflation, world influences, safety crap, emissions crap, etc) and you're in a position that i imagine many others are. And its very sad.
Yeah it's a hard one, frustrating as well because if I did this a few months back I was in a good position. My car has lost like 3k in a few months, crazy in my eyes. I guess the cars I'm looking at are performance SUV and they are holding their money well still. But I have noticed that my car on the forecourt is still at a high price and it's more of a problem for anyone looking to trade in as dealers are offering very much under what they are worth. I'm hoping in the new year I can get somewhere with it 🙏
I think we've just returned to the norm. For a few years the dealers have paid way over, due to the lack of new cars, now the new cars are making their way back, it's reverted to the way it always has been, low PX values.
I totally understand you're OK the wrong end if it and it's a ball ache to not be able to do what you want but you may just be in the, wrong place, wrong time situation.
As much as you may not want to, keeping the bimmer and reducing the finance may be the way forward, at least in the short term.
I wish you luck. All the best 👍.
@@decker0373 yes looks like it! Funny thing about it all is the dealers don't even want to do any deals either.
I think you're right, Just wait it out a bit long and hopefully once I've paid off more of the finance, I'll be in a better place.
Thanks for the comment 🙏
Joke that mate how it’s dipped over a few weeks hope it picks back up but then it might get worse 🤷♂️
Yeah it's a joke mate, crazy differences to what I could have got. Yeah I don't know how the market will go, the only good thing is I don't do many miles, so hopefully the price won't drop much more!
@@the_jnlt_channel the more I read mate the more the more I start to worry about it mate ps hope you get another bmw mate 😂
@@BMWFAMuk yeah I'm reading as well. I also hear that price might be better after the new year when things settle down a bit. I am looking at BMWs as well, there are a good handful of cars in looking into 👍
All prices are relevant. So your car price has gone down. So is the car you are buying. Cars are the number one way to stay poor if you want to have a nice car every few years. !!
Thanks for the comment! The problem is the cars I'm looking at haven't gone down as the dealers still got them marked up at higher prices, way over what they are worth but offering a lot less than what my car is actually worth. That's the problem 😕
@@the_jnlt_channel market forces will not allowed that to continue. Dealers are basically having to adjust prices. They will rely on easy buyers first who fall for their sales patter to limit loses Ignore it. Look around. I used to be a car dealer. If you see a car you like. Sell yours via car wow who are the best other than a private sale. You are then in a very strong position as a cash buyer. Go in low and barter hard!!
@@rumbey1 yeah I'm hoping they will drop soon, not in a massive rush as I like my car just want something bigger! Yeah that's an option to sell via car woow or sites like this to get the best price for sure. Just going to keep an eye on the prices for now 👍
I'm after an M135i but not a blue one unfortunately
@@rumbey1 no worries! Hope you find one 💪