Resale value
05-30-2006, 07:11 AM
#1
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BMW E60 M5 - '08
Resale value
My car is for sale and the first offer I've received puts it at about 63% of my purchase value. I realize that the Australian market may be different but what do you guys think? I haven't even advertised it yet and this offer is from one of my customers.
My car was manufactured in Aug 03.
Thanks for your input!
My car was manufactured in Aug 03.
Thanks for your input!
05-31-2006, 12:39 PM
#3
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the 03's had higher rates of electronic problems which hasten their depreciation, plus they were priced lower..50% depreciation right now.
the 06/07 ,probably won't have the same steep depreciation.
the 06/07 ,probably won't have the same steep depreciation.
05-31-2006, 03:41 PM
#4
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Depreciation for a 2003 E500 after 3 years is around 55% in the Washington DC area. The 2004s and the 2005 models seem to be holding their value exceptionally well though. I think once the 2007 E550 comes out it will knock down the values of the 2004 and 2005 E500s.
In the DC area currently you can get a 2003 E500 for around 30K but the 2004 E500s seem to be around 40K and the 2005s are in the mid to late 40s. I would have expected the first year of depreciation to be the highest for the 2004 and 2005 models but that does not seem to be the case for some reason. Anyone have any ideas as to why? Looks like it is 5-6K the first year, about 8K the next year, and around 12K the third year. I would have expected the depreciation curve to be the exact opposite.
People who buy a 2003 E500 get to have that car for a really GREAT price but I wouldn't buy the first production year of a new model.
In the DC area currently you can get a 2003 E500 for around 30K but the 2004 E500s seem to be around 40K and the 2005s are in the mid to late 40s. I would have expected the first year of depreciation to be the highest for the 2004 and 2005 models but that does not seem to be the case for some reason. Anyone have any ideas as to why? Looks like it is 5-6K the first year, about 8K the next year, and around 12K the third year. I would have expected the depreciation curve to be the exact opposite.
People who buy a 2003 E500 get to have that car for a really GREAT price but I wouldn't buy the first production year of a new model.
05-31-2006, 07:56 PM
#5
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Im looking at an E500 lease, they are estimating that AFTER 27months@ 10k miles a year it will hold 65% of its value... so your number is GREAT!!!
06-01-2006, 09:07 PM
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BMW E60 M5 - '08
Thanks for the input guys. The offer I'm getting now is at 65.4% (on purchase value). I think I'm going to accept it and save me the trouble of advertising and going through various test drives.
... I can't believe I'm selling this beautiful car. Part of me regret this already...so ssaaaaaadddd
I suspect this will be my last weeked with the car as he is keen to take it soon ...sigh...
... I can't believe I'm selling this beautiful car. Part of me regret this already...so ssaaaaaadddd I suspect this will be my last weeked with the car as he is keen to take it soon ...sigh...
