Value of [2007 BMW 316i with 240,000kms]

DonalB1

Hi all,

Just a quick one for anyone on here who knows about cars or that have been in the industry. I'm selling my car soon and I was wondering what is a fair and realistic value to look for it.

It's a 2007 BMW 316i with 240,000kms. Is in great condition and has never had any issues. Well taken care of.

Any help or advice is greatly appreciated.

Donal

unkel

DonalB1 wrote: »

Hi all,

Just a quick one for anyone on here who knows about cars or that have been in the industry. I'm selling my car soon and I was wondering what is a fair and realistic value to look for it.

It's a 2007 BMW 316i with 240,000kms. Is in great condition and has never had any issues. Well taken care of.

Any help or advice is greatly appreciated.

Donal

You have to tell us a bit more. What model, SE or mtec? What extras ? How long nct? Full BMW service history? Auto or manual?

xabi

3.5 to 4K

DonalB1

unkel wrote: »

You have to tell us a bit more. What model, SE or mtec? What extras ? How long nct? Full BMW service history? Auto or manual?

It's SE, manual, no extras, NCT until nov 16 and tax until may, has full service history.

xabi wrote: »

3.5 to 4K

Seems very low considering I paid 10k for it 3 years ago and have looked after it very well since.

This is the first car I'm selling so I thought some advice on here would be very helpful.

Thanks again,
Donal

xabi

Depends how quickly you want to sell it, you could hold out for more, but you're up against dealers providing warranties, etc.. 4K and i think it would shift quickly. Car zone says there are 123 3 Series for sale in Ireland.

ShaunieVW

I'd say put up for 5k aim for 4.5k high mileage and lowest spec available is going against you. Lots of 3 series on the 5-7k category now with decent spec so buyers have there pick.

DonalB1

xabi wrote: »

Depends how quickly you want to sell it, you could hold out for more, but you're up against dealers providing warranties, etc.. 4K and i think it would shift quickly. Car zone says there are 123 3 Series for sale in Ireland.

The cheapest fitting same description as mine with similar milage is priced at 6k and it's a 2l petrol, mine is a 1.6.

xabi

DonalB1 wrote: »

The cheapest fitting same description as mine with similar milage is priced at 6k.

Private or dealer? How much is the tax? People seem to be put off with pre 2008 cars and their 'high' tax. It all depends on how quickly you want to sell it and if there's a buyer looking. What county is it?

DonalB1

ShaunieVW wrote: »

I'd say put up for 5k aim for 4.5k high mileage and lowest spec available is going against you. Lots of 3 series on the 5-7k category now with decent spec so buyers have there pick.

4.5k?? Semms awfully low...you guys know more than me about it but considering the cheapest of the same year with same spec but it's a 2l petrol is going for 6k and thats the cheapest. Most are 6.5k+

DonalB1

xabi wrote: »

Private or dealer? How much is the tax? People seem to be put off with pre 2008 cars and their 'high' tax. It all depends on how quickly you want to sell it and if there's a buyer looking. What county is it?

It's private. Tax is 500 euro. I'm not in a huge rush if it means getting a good price. It's in Dublin.

xabi

DonalB1 wrote: »

It's private. Tax is 500 euro. I'm not in a huge rush if it means getting a good price. It's in Dublin.

Put the ad up for 6K and see what the interest is like and reduce by 500 every few weeks, best of luck with it.

unkel

I'd say xabi is in the ballpark with €4k. You're up against far more popular '08 320d diesels with cheap tax from about €5k

Might save yourself a lot of frustration by trading it in?

DonalB1

unkel wrote: »

I'd say xabi is in the ballpark with €4k. You're up against far more popular '08 320d diesels with cheap tax from about €5k

Thanks for the advice, really thought it would go for 5.5k at the least

Can't find any 08's for under 6k online

unkel

'08 520d asking €5k

Linky

Yours easily for €4.5k

And the motortax on that car is less for the full year than on your car for 6 months. Motortax has a huge impact on resale value of cars in Ireland. Tbh if someone offered you €4k, I'd bite their hand off. Advertise for €4495 and hope for the best, GLWS!

Bio Mech

I would advertise it for 4900 or so and would be looking to get 4K. Private sale. Nine year old high mile petrol basic spec is what people would see. 4K would be a reasonable outcome.

bazz26

DonalB1 wrote: »

Seems very low considering I paid 10k for it 3 years ago and have looked after it very well since.

This is the first car I'm selling so I thought some advice on here would be very helpful.

Thanks again,
Donal

How much do you think it's worth?

If you paid 10k for a 2007 3 years ago that means you can buy a 2010 example for the similar money now. Reality is that your car is now 9 years old and is only worth what someone is willing to pay for it. I think you will be doing well getting anywhere near 4.5k/5k for it.

unkel

And 3 years ago was a different ball game. Back then even the cheapest low tax BMW diesels would probably have been the guts of €15k from a (BMW) dealer...

Makes the €10k you paid for your car not look so bad after all

DonalB1

Thank you all for the advice,

I was thinking a much higher figure but I was obviously a little disillusioned. If that's the figure that they're going for the I'll start at 4.9k and see what offers I get. Thanks again for that.

On a similar note I'm now in the market for a new car. Would be looking at something similar 08-10, BMW Coupe, Mercedes or possibly an Audi A5 if I could find one for 9k or under. Anyone here have any experience in purchasing one of these around that year? Is it better to look to the UK or would there be much savings?

ironclaw

Average is €6.6k, that private and dealer but a very small data set so its not very representative. But your mileage is higher than the average of 150k km. That will affect the asking price. You will have a lot of people who won't even dream of asking about car with 200k+ km. SE spec should attract more buyers but if you want to sell quick, you'll need to lower your price. Tax as its pre-2008 will be a concern for a lot of 'normal' buyers.

As has been said, depends how fast you want to shift it. Personally I'd go for €6k and be willing to drop for the first serious buyer, and thats higher optimistic. Quick sale I'd be a lot lower in the €5k to €5.5k range.

DonalB1

ironclaw wrote: »

Average is €6.6k, that private and dealer but a very small data set so its not very representative. But your mileage is higher than the average of 150k km. That will affect the asking price. You will have a lot of people who won't even dream of asking about car with 200k+ km. SE spec should attract more buyers but if you want to sell quick, you'll need to lower your price. Tax as its pre-2008 will be a concern for a lot of 'normal' buyers.

As has been said, depends how fast you want to shift it. Personally I'd go for €6k and be willing to drop for the first serious buyer, and thats higher optimistic. Quick sale I'd be a lot lower in the €5k to €5.5k range.

This has me confused now...I was thinking of a figure similar to that, around €6k. obviously if there was no demand then I'd have to reduce but I don't want to waste 2-3 weeks with an unrealistic price. The sooner I sell the sooner I can buy so I thought here was the best place to come to get some opinions (which have been very much appreciated btw).

MadDog76

Current market value is about €5,800 ......... but, realistically, you'll find it difficult to get any more than €4,500.

DonalB1

MadDog76 wrote: »

Current market value is about €5,800 ......... but, realistically, you'll find it difficult to get any more than €4,500.

Thanks for the reply and sorry now for what's probably a stupid question but if the value is 5.8k why would would it only sell for 4.5k?

kindalen

asking price v selling price.

if you know anyone in car sales ask them the book value.

ironclaw

DonalB1 wrote: »

This has me confused now...I was thinking of a figure similar to that, around €6k. obviously if there was no demand then I'd have to reduce but I don't want to waste 2-3 weeks with an unrealistic price. The sooner I sell the sooner I can buy so I thought here was the best place to come to get some opinions (which have been very much appreciated btw).

That figure, €6.6k,is the average asking price. You need to factor your trim level, overall condition and mileage to your asking. 40% of those cars, that create the average of €6.6k, are also dealer sold cars, so they will push the price higher given their margins. Private asking price average is much closer to €5.8k or so.

My recommendation is to look online as if you were buying your car, see the overall market and position yourself accordingly. Don't be the most expensive or cheapest but conversely, don't undersell yourself first. Its easier to give a buyer a discount than it is to get a buyer in the first place. Once again, if you want to sell fast and don't care too much about your take, just fire sell

MadDog76

DonalB1 wrote: »

Thanks for the reply and sorry now for what's probably a stupid question but if the value is 5.8k why would would it only sell for 4.5k?

€5,800 is what a reputable Dealer would get/accept, they'd be hoping to get maybe a couple of hundred more but probably wouldn't accept much less ....... they'd advertise it at €6,500 because everybody knows that the asking price is not the selling price.

You could probably advertise it at €5,999 (looks more appealing than €6,000) if you're willing to risk putting a lot of customers off even enquiring and you have the time to play the long game.
But if you want to generate a lot of interest and achieve a quicker sale I'd advertise at €5,499 ......... you're going to have to knock €300/€400 off that price almost immediately if you get someone interested enough to view the car ........ the asking versus the selling price issue.
A potential buyer is going to want a further, dramatic, discount of about €500 because you're a Private seller as opposed to a reputable Dealer with an established premises and a decent warranty ......... the customer is taking a big risk going with you and they'll, quite rightly, want to be rewarded financially for taking the gamble.
That'll bring you down to about €4,599 ........ your serious buyer will nit-pick at this stage to get as much off as possible, ie. "There's a few scratches on the bonnet there, those tyres look a bit worn" etc.
The buyer will probably offer you a cheeky offer around the €4,000 (maybe even less) mark and it'll be up to you to fight for every euro after that ........ €4,500 is a reasonable price ...... I, personally, wouldn't accept any less than that ........ if you haggle hard enough you might get a little more but not much.

DonalB1

Really appreciate all the responses. I'll put it up for that in the coming days.

On a separate e I'm very interested in getting a Mercedes C class...08-09, Is it realistic to think I could get one below the 9k mark that doesn't have more than 150,000km on the clock? If so are these reliable cars?

bazz26

You will be hard pressed finding a decent one with low mileage for that sort of money. If you want decent money for your 07 3 Series then it's only natural that a good 08/09 C Class is going to cost decent money too.

You probably have to either expect an example to have more miles on it or look at increasing your budget.

For example:
http://www.driving.ie/used-cars/Mercedes-Benz/C-Class/1.8-KOMPRESSOR/200814581247426830/

DonalB1

bazz26 wrote: »

You will be hard pressed finding a decent one with low mileage for that sort of money. If you want decent money for your 07 3 Series then it's only natural that a good 08/09 C Class is going to cost decent money too.

You probably have to either expect an example to have more miles on it or look at increasing your budget.

What would be a rough selling price for that car based on it's mileage etc? It's a beautiful car. Would it be realistic to get it down to 8,000 if I were offering cash??

bazz26

DonalB1 wrote: »

What would be a rough selling price for that car based on it's mileage etc? It's a beautiful car. Would it be realistic to get it down to 8,000 if I were offering cash??

You can most certainly try but looking at other similar cars on carzone and it's one of the cheapest so there might not be much room for that much off it. Given that there is only one way to find out and the worst they can say is no.

unkel

You might get it for around €5k plus your car. Give it a go and reply back here!