[bigjimmer80]

Put my m235i on Wizzle yesterday and after a couple of hours the bidding went up to £17,600, which according to hpivaluations.com is the top end of trade in. I was happy enough with that, gives me a couple of thousand after the finance is cleared to put towards the next one.

I'm pretty keen to get into a f31 340i, but everyone I've seen is listed around £3k more than what hpivaluations.com are saying they should be at, so I would essentially be setting fire to that money should I buy one. Not sure whether to hold out on the hope the prices come back down, or go ahead?

[speedski]

Check what conditions are associated to the offer you have (are services due etc).

The value you are getting is what it is because of demand. Which is why the 340i's are also high. You cant expect to get good money for yours and the car you want to be less than you want - well you can but it wont happen

If you're asking to justify the extra cost. Do it, and if you feel like you shouldn't then replace your man maths calculator

[bigjimmer80]

Originally Posted by speedski

Check what conditions are associated to the offer you have (are services due etc).

The value you are getting is what it is because of demand. Which is why the 340i's are also high. You cant expect to get good money for yours and the car you want to be less than you want - well you can but it wont happen

If you're asking to justify the extra cost. Do it, and if you feel like you shouldn't then replace your man maths calculator

I've been offered what mine's worth on trade in. The 340 I've seen is advertised at £26k, yet according to hpi valuations worth no more than £23,450.

[DB118D]

Originally Posted by bigjimmer80

I've been offered what mine's worth on trade in. The 340 I've seen is advertised at £26k, yet according to hpi valuations worth no more than £23,450.

£23,450 trade?

Retail is a different ball game

[bigjimmer80]

£23,450 trade?

Retail is a different ball game

That is retail.

[drykoke]

Doesn't matter what HPI valuation says. The only thing relevant to the dealer is what the punter is prepared to pay.
Premium high-spec used cars are currently flying off the forecourts, even though priced at £2k above the levels in January and February.

Good time to trade-in if you are down-sizing and thinking of lower-cost alternatives.
Very bad time to buy New or Used premium upgrades.

[MY340i]

340i tourings are currently trading at a huge premium

[Abzynthe]

Used car prices have gone up a couple of thousand and the online checkers probably haven't caught up.

[KTE]

Checked mine and someone else's on the valuation sites, both showing a substantial amount less than what ‘equivalent’ or lower spec cars are advertised for on auto trader (mix of private/traders). Even older by a few plates.

[JR1664]

I was in a whisker of jumping ship by trading in my 340i but if fell through at the last minute (lesson - don't start a thread unless its in the bag).Used prices have gone nuts and it was bloody tempting. However as you've seen everything else has gone up.

Odd times, with the uncertainty of a no Brexit deal looming and the end of furlough next month I think the market will be all over the shop. Manufacturers are making up their surplus but the virus isn't going anywhere, so people continue to work at home, less demand and justification for new vehicles. That said the roads seem just as busy.

[Armaan]

Typical example is a 19 plate Golf GTI at my local stealer. Pre Covid I'm quite sure it was priced at £24,990, now....£29,990.

I think valuations have gone up, but the extra £1-2k value on trade in follows a £3-4K increase on the next car.

Bad time to want or need to upgrade as stocks are still low and prices are high to make up for some losses during closure.

Armaan

[drykoke]

Originally Posted by Armaan

Typical example is a 19 plate Golf GTI at my local stealer. Pre Covid I'm quite sure it was priced at £24,990, now....£29,990.

Bad time to want or need to upgrade as stocks are still low and prices are high to make up for some losses during closure.

Armaan

Yep, the stealers are raking it in.
Early this week, I saw a good car at very reasonable advertised price of £25k. Within 24 hours the advert had disappeared, even before I got round to calling the stealer.

It's now Thursday and the same car is re-advertised at another branch of that dealer group, price gone up to £27k.
The best thing is that they have Photoshopped the images to remove the background logo and signs from the previous branch of the dealership, so that they can pass it off as a new advert from their own branch.

[Mustard3]

When you find a 340i that suits your budget I highly recommend you do it. The suspension feels much better sorted. Maybe try one with adaptive if you can, you can haul it down country roads at a higher rate of knots with more confidence than the 235, which on passive at least, shook me around like a pea in a whistle.

[DarrenM69]

Originally Posted by Barsj111

340i tourings are currently trading at a huge premium

This is so very true, I've been on the look out for a decent late F31 for a while, I slackened off over Covid period expecting prices to plummet but it's been quite the opposite.

In fact, the way prices are currently (around £28 -£32k for a decent F31 340i) I think I'm gonna wait till next year and maybe get a M340i instead....depending on what happens price wise with those obviously!!

[Mr Burt]

Originally Posted by Mustard3

When you find a 340i that suits your budget I highly recommend you do it. The suspension feels much better sorted. Maybe try one with adaptive if you can, you can haul it down country roads at a higher rate of knots with more confidence than the 235, which on passive at least, shook me around like a pea in a whistle.

Agree. My F31 340 with adaptive and PS4 S boots is a half decent steer, if you accept it is a family car after all.
Values have indeed held up well. My GFV in May 2019 was 18k. With currently 33k miles, nicely specced and immaculate it cannot be far off that now.

[Soul_Glo]

It's not the valuations going up. It's dealerships holding on to inventory and trying to stay afloat.

My friend who had to part with her F30 335d with a high specification purchased used in 2015 with 40k miles on the clock for £25k.

The exact same specification but with higher mileage, same registration year was on sale for guess what? £25k!

Using a pal who works for the BCA industry he valued the car at £21k. That's a huge 3k hike. Given then 21k takes into account the warranty and profit margin.

This could go many ways. Franchise dealers end up with slow sales selling old stock for more or they end up with lots of old stock they are unable to shift. Or other ways...

Crazy times. Some dealerships/franchises are being more reasonable though.

There is an interesting thread on the complete collapse of the used car market here:


Complete collapse of the used car market https://www.bimmerpost.com/forums/sh....php?t=1708915

[LukaUK]

Originally Posted by Soul_Glo

It's not the valuations going up. It's dealerships holding on to inventory and trying to stay afloat.

My friend who had to part with her F30 335d with a high specification purchased used in 2015 with 40k miles on the clock for £25k.

The exact same specification but with higher mileage, same registration year was on sale for guess what? £25k!

Using a pal who works for the BCA industry he valued the car at £21k. That's a huge 3k hike. Given then 21k takes into account the warranty and profit margin.

This could go many ways. Franchise dealers end up with slow sales selling old stock for more or they end up with lots of old stock they are unable to shift. Or other ways...

Crazy times. Some dealerships/franchises are being more reasonable though.

There is an interesting thread on the complete collapse of the used car market here:


Complete collapse of the used car market https://www.bimmerpost.com/forums/sh....php?t=1708915

But how holding to inventory helps dealerships to stay afloat ? That doesn't make any sense, idle inventory doesn't make them any money. They need to shift cars to make money. Most of the dealership wouldn't worry about the cost of warranties at this point as claim would not materialise right away.
In my opinion current situation is the outcome of 2 factors, long waits for new cars, hence increased demand for AUC cars and low supply of used ones as uncertainty forces some people to hold on to their cars for longer.
The article you mention is complete reverse of the situation in the UK, USA wholesale prices are plunging "Horrible time to sell anything, great time to buy" as one OP is posting.
Why would UK dealers offer over the top part exchange prices if market was set to crash as in the USA ? I think UK AUC stocks are low, compared to demand - I used to check regularly on BuyaCar for cars that would of interest to me, there used to be pages upon pages of good examples. Now its just one page at the most.

[Goneinsixtyseconds]

Originally Posted by LukaUK

But how holding to inventory helps dealerships to stay afloat ? That doesn't make any sense, idle inventory doesn't make them any money. They need to shift cars to make money. Most of the dealership wouldn't worry about the cost of warranties at this point as claim would not materialise right away.
In my opinion current situation is the outcome of 2 factors, long waits for new cars, hence increased demand for AUC cars and low supply of used ones as uncertainty forces some people to hold on to their cars for longer.
The article you mention is complete reverse of the situation in the UK, USA wholesale prices are plunging "Horrible time to sell anything, great time to buy" as one OP is posting.
Why would UK dealers offer over the top part exchange prices if market was set to crash as in the USA ? I think UK AUC stocks are low, compared to demand - I used to check regularly on BuyaCar for cars that would of interest to me, there used to be pages upon pages of good examples. Now its just one page at the most.

You’re right, it’s nothing to do with keeping inventory up.

I’ve been in about 6 different dealers decently and they all have empty lots where the second hand cars should be. They all tell you openly they have no stock in.

Doesn’t matter the brand, they’re all saying the same. The Seat dealer we bought mother in laws car from said they had very little, he asked what I’d seen at BMW when I sorted my car and bought the Mini. The Stratstone lot in Chesterfield is as empty as I’ve ever seen it and they said outright they just don’t have the cars.

And it’s not going up yet, who knows when it will.

Will redundancies cause people to sell cars and increase stock? Or will it slow down new sales and trade ins because nervous people keep what they’ve got for longer.

[drykoke]

Originally Posted by Goneinsixtyseconds

You’re right, it’s nothing to do with keeping inventory up.
I’ve been in about 6 different dealers decently and they all have empty lots where the second hand cars should be. They all tell you openly they have no stock in.

Yes, absolutely right. There's no substitute for local knowledge. The OP from thousands of miles away in the US was speculating about UK inventory .

I tried to get some valuations for my car, and some used car dealers were offering a better price if they could come and pick up the same day. They need cars to sell if they are going to stay afloat and have cash flow.

[335dX]

Originally Posted by Soul_Glo

It's not the valuations going up. It's dealerships holding on to inventory and trying to stay afloat.

My friend who had to part with her F30 335d with a high specification purchased used in 2015 with 40k miles on the clock for £25k.

The exact same specification but with higher mileage, same registration year was on sale for guess what? £25k!

Using a pal who works for the BCA industry he valued the car at £21k. That's a huge 3k hike. Given then 21k takes into account the warranty and profit margin.

This could go many ways. Franchise dealers end up with slow sales selling old stock for more or they end up with lots of old stock they are unable to shift. Or other ways...

Crazy times. Some dealerships/franchises are being more reasonable though.

There is an interesting thread on the complete collapse of the used car market here:


Complete collapse of the used car market https://www.bimmerpost.com/forums/sh....php?t=1708915

That link relates to the USA, which is a completely different market to us here in the UK and irrelevant.

We don’t do 10 year car loans for a start.

And looking at one solitary car is like pissing in the wind. There are a huge number of factors that go into what a dealer might value a car at. Just because Your BCA mate has access to the book and it says £21k, doesn’t mean that’s what was paid for it to sell it at £25k. The dealer may have paid £23500. Unless you have access to their dealer management system you’ll never know.

And trust me, sales are not slow for used cars in any way shape or form. New cars is a different matter.

[335dX]

Originally Posted by drykoke

Yep, the stealers are raking it in.
Early this week, I saw a good car at very reasonable advertised price of £25k. Within 24 hours the advert had disappeared, even before I got round to calling the stealer.

It's now Thursday and the same car is re-advertised at another branch of that dealer group, price gone up to £27k.
The best thing is that they have Photoshopped the images to remove the background logo and signs from the previous branch of the dealership, so that they can pass it off as a new advert from their own branch.

This is a well known tactic of most very large dealer groups with multiple sites. They swap stock all the time at day age between sites up and down the country. It is normally governed by head office and the dealer doesn’t get a choice of when it happens or the prices.

PS us stealers are there to make a profit, it’s called business.

[Firaxis]

Uncertain times, new cars becoming more expensive, worse or not really any different. Let's just put it this way on my search for a 340i about a month ago if I hesitated for half a day the car would have been sold.

I rang dealers constantly to find out a cars current status, they're just flying off the shelves. I had to order new just to find a decent deal or actually GET ONE.! Weird times in the car market.