Starting to get frustrated with the second hand car market

[zebede]

My car was bought for 54600 and they'll have it on the forecourt for 72k plus - be warned though it's a lemon!

What?! I thought you rejected it?!

I did mate, apparently they are putting it on forecourt, must be bonkers

[Ian_C]

My car was bought for 54600 and they'll have it on the forecourt for 72k plus - be warned though it's a lemon!

What?! I thought you rejected it?!

I did mate, apparently they are putting it on forecourt, must be bonkers

Ahhhh, so the 54,600 is just an internal figure, thought for a sec you meant you were 20k+ out of pocket!

[skirs6]

Surely if the car was rejected there is no figure? You just get a replacement car or a full refund ??

[zebede]

You'd think that wouldn't you

[Misanoredrs4]

Market conditions is what they is and there will always be cars or situations that don't conform. Get what you want when you want it and accept it will lose a <beep> ton of cash anyway, take something medicinal to get through it and enjoy.

[MikeBishop]

Thanks for all your comments guys....

I can only go by my own experiences over the last few months but the reality is at my price point, the cars appear week after week on the same for sale websites so the ones im looking at are not shifting and dealers will not budge on price...I enquired about a fully specced RS in Jan which was up for 62k and the exact spec I was after...Spoke to the dealer a few days ago..they still have the car and are still not willing to consider a price reduction.

I then equired about a PX value on my M5 and when they offered 19k I basically got pissed off and walked away as mine is worth at least 30k albeit with a private sale

Really sorry to hear you did not have a great experience on Tootle (I founded the business last year). It looks like a lovely car but we can only really get the best trade bids on any given vehicle. It looks like your asking price was getting close to full retail money so your best bet is probably the private sale route in this instance.

Shocked to hear that your dealer offered you £19k in part ex.......makes the offer of £26,500 from Tootle look pretty good in comparison.

We seem to be able to convert relatively well on Audi RS products but the BMW M range just does not seem to get the same amount of interest or value against CAP. We managed to get you £1200 over CAP which is about average for the M5 on our site, M3s and M4s are well below CAP guide pricing for some reason.

[zebede]

Market conditions is what they is and there will always be cars or situations that don't conform. Get what you want when you want it and accept it will lose a &lt;beep&gt; ton of cash anyway, take something medicinal to get through it and enjoy.

I did it's called a Porsche and several large gins, I'm over it now, I've even got a new comb and a pair of scissors to go with my 4 cylinder boxster loan car....

[W8PMC]

So a bit of history...We have our second baby coming in May so Ive been browsing the internet since Nov 2016 trying to get a feel for what I can get on the second hand car market between 50-60k...I will have a prestine and fully loaded F10 m5 to sell but Im waiting until all is well with the baby before I put my car up for sale privately and then really push hard to find an RS6 as I need it for a road trip in the summe - I will therefore basically have 2 months to sell my own car and buy the right RS6 in the spec I want.

Since Nov I have noticed that unsurprisingly with this type of car, the majority of second hand cars are for sale via dealers. I have to admit, Im surprised as to how the values have held up relatively well. Thinking of my own M5, the original purchase price was 98k but when I will sell this car 5 years on, someone will be getting a mint fully loaded M5 for 30k at the very most - my m5 has 44k on the clock and is literally in brand new condition and you will not find a better spec currently in this country

When speaking to dealers however, none of them are willing to budge on price but the same cars appear week after week on pistonheads/autotrader with no price reduction and dealers are obviously struggling to shift them which begs the question...if a dealer has an RS6 sitting with them for weeks and sometimes months on end, why will they not drop the price to get a sale; if they cant sell the car, surely this is a clear indication that it is not priced well and hence they need to drop the price??

Whats going in the second hand car market with these cars??

Just curious, but I assume you paid nowhere near £98k for your M5? My guess is mid - high £70's?

As an indicator, my M5 is on it's way back to BMW at 3yrs old, list was £78, realistic sale price was £65k & I've been offered it at £32500 by BMW (auction price). The car has covered 39k miles on it & would go up for sale at a main dealers for £40k, likely selling for £37/8k.

[drbru]

I didnt actually buy my m5 from new so dont know what the original owner paid.. I ve had the car myself for over 3 years now and paid 46k for it at the time...

Appreciate the values have dropped (a lot!) but firmly believe I can pitch my car at the upper end of the second hand market as its basically in as new condition, has a massive spec including the full leather which very few M5s have due to the original cost from the factory and makes a massive difference on the inside of the car.

Ive physically seen relatively similar ish specced cars to my m5 with similar age and mileage etc which have sold from anywhere between 27-32k recently however I have not seen an example that has been looked after as well as mine so I wont be selling at any form of knock down price but simply a fair price that hopefully someone is willing to pay

[W8PMC]

I didnt actually buy my m5 from new so dont know what the original owner paid.. I ve had the car myself for over 3 years now and paid 46k for it at the time...

Appreciate the values have dropped (a lot!) but firmly believe I can pitch my car at the upper end of the second hand market as its basically in as new condition, has a massive spec including the full leather which very few M5s have due to the original cost from the factory and makes a massive difference on the inside of the car.

Ive physically seen relatively similar ish specced cars to my m5 with similar age and mileage etc which have sold from anywhere between 27-32k recently however I have not seen an example that has been looked after as well as mine so I wont be selling at any form of knock down price but simply a fair price that hopefully someone is willing to pay

Prices are starting to firm up for the F10 M5, albeit gradually.

The BMW offer price on mine is £32500, which given WBAC (was curious) offered £32k is a great price from BMW & leads me to believe the car would go up on a forecourt for around £40k as it will go to closed auction if collected by BMW.

I'm guessing yours is a good 2yrs older than mine though (mine's an April 2014) so not LCi which will hold the price back & although it may have nice toys i'm afraid all that does is make it more desirable rather than more valuable (same applies to most cars).

If you bought yours for £46k 3yrs ago & 2yrs earlier it listed at £98k then you got an out of this world deal as mine's only lost about 40-45% over 3yrs & 40k miles depending on whether it's traded or retailed next.

[drbru]

agreed that I got a great deal originally!