[botti335i]

Hi Guys

Need a little advice....

I've got a 335i and i've now moved to an area where i can walk to the local station etc so the car doesn't get used mon-fri. On the weekend, I probably rack up no more than 100 miles. Over the course of a month, I've worked out (with pcp plan, petrol, insurance, getting it cleaned etc) its costing me up to £650.

Thats a lot of money for something that doesn't get used.
To be honest, I think I could live without a car full stop. However, I can't just hand it back to BMW....there is a 3-5k gap between what i'll get for it and whats on the finance. So once I've given it back and got no car, I'll have to pay off the difference. I'll still be much better off, but i'm obviously not keen on paying for a loan with nothing to show for it.

I've thought about getting rid of it, paying off the gap loan and buying a cheaper car, but when it all adds up i still wouldn't be much better off and i'd be paying for a car i wasn't that keen on- cos i love the 335i!

Bottom line is i either need to keep it, or have no car at all.

I'd appreciate any advice. I'm not thinking of getting rid of the car cos i can't afford to keep it, only thinking about it cos it just feels like a waste of money... FYI, I am 18 months through a 4 year pcp plan. the car is an 07 plate with 23k on the clock.

thanks all!

[rogerxp]

Is what you owe on finance anywhere near what it's worth on the open market i.e. your £3-5k deficit, is that based on a dealers offer or a private sale?? If it's a dealers offer then are the prices on AutoTrader nearer the mark, could shrink the deficit by a couple of grand possibly.

You've got one of the worse cars I'm afraid in todays times (both financial & enviromental) to get a cracking deal and buyers (dealers & private) know this and will probably haggle (unless you've got a special spec).

The last gasp idea is whether there is anyone who wants to effectively 'rent' the car off you. You continue the finance and someone else, who drives the car, helps to contribute - obviously a large element of trust is needed here!!!

My friend has his 335i in a lock-up, it's been up for sale for around 4-5 months and can't shift it, it's an 07 plate and he's asking £25k I think, and it's good spec. He's pootling around in a diesel Golf. Crazy world.

[zaytar]

Keep it.

You are going through the same thought processes as many others right now. But the question is what exactly will you do with the £600+ you save a month?? Save it? Spend it on going out?

Motoring is important to me. Therefore I must have a decent car that makes me feel good. Now is the time of my life (I'm 38) for such things I'd promised myself as a boy. By all means have money tucked away for a rainy day, but saving up the money in a bank and staring at statements is lifeless.

[creepy coupe]

I did consider doing something similar with my 135 a while ago, I run an old Mondeo for work and mucky jobs and sometimes the BM just sits in the garage and has become a bit of a weekend play thing, but TBH I decided “sod it” I Bloke needs something nice to play with, so I kept it and have been thinking lately of something slightly more play thingish.

I understand your situation and when you do the numbers it does make you think? Only you know if the 335 is worth £650 a month to you.

[botti335i]

Thanks guys...sounds like i'm not alone in my thinking!

The car has 24.5k of finance owed to BMW. I've been offered between 19-21k by various dealers, but have not considered the private buyer route which could reduce this gap further.

I think you've hit it on the head though re having something that makes you feel good- i too like a decent motor, and couldn't pay for something i don't like. is it worth 650 p/m? thats a tough one....for me its my only extravagance....and what else would i spend the money on? probably shopping and going out, holidays etc.

i'll keep thinking....cheers.

[creepy coupe]

Even if you did hand it back, I'd imagine you'd still need something to get about in, so it's not really as much as £650

Can you see my thinking. Blokes logic

[threethirty]

I have the same thoughts. My office moved within walking distance of my house. My car is rarely used these days, I take it for a brief spin at weekends but nothing big.

Have you tried http://www.webuyanycar.com and others like it? They would give me £14,500 for mine - I don't think this is too bad but still can't bring myself to part with it. I am fortunate that I have no finance outstanding.

[botti335i]

hahaha yes i can. Like you say i might still need a run around, and by the time i've payed for it, insured it etc i might not be that much better off....

[MB London]

I recently bought a 335i M Saloon and fortunately for me I got a mega deal on a very low mileage car with top spec. I am in a similar boat though as it cost me a similar amount per month in repayments, insurance etc and I only do minimal miles in a week.

I often think that I could half my monthly outgoings on the car and chip away at my mortgage, but isn’t life to short for all that sh*t. I fully understand that expensive cars need to be one of the first things that go to the chopper if people are victims of this current economical climate. But if things are ok (touching wood) and money is still coming in then I suggest you get in you car and give it the mother of rips (while being totally safe of course) and tell yourself that you are one of the lucky ones and you owe it to (I feel like I need some back ground music) those poor bastards who no longer have a mine to go down or any other job to go to. You owe it to them to enjoy your awesome twin turbo charged rocket and stop worrying. Thank you.

[botti335i]

thanks threethirty- i have tried them, and they gave me the best price so far (21k). cheers.

[botti335i]

Thanks MB london...thats a view i have shared when i'm sitting in it and its making me smile! its only when i'm looking at my outgoings i start to think its gotta go!!

[dxb335d]

Originally Posted by MB London

I recently bought a 335i M Saloon and fortunately for me I got a mega deal on a very low mileage car with top spec. I am in a similar boat though as it cost me a similar amount per month in repayments, insurance etc and I only do minimal miles in a week.

I often think that I could half my monthly outgoings on the car and chip away at my mortgage, but isn’t life to short for all that sh*t. I fully understand that expensive cars need to be one of the first things that go to the chopper if people are victims of this current economical climate. But if things are ok (touching wood) and money is still coming in then I suggest you get in you car and give it the mother of rips (while being totally safe of course) and tell yourself that you are one of the lucky ones and you owe it to (I feel like I need some back ground music) those poor bastards who no longer have a mine to go down or any other job to go to. You owe it to them to enjoy your awesome twin turbo charged rocket and stop worrying. Thank you.

Some good comments there!!

[e92_alex]

I would keep it for abit longer and hopefully put more of a dent into the owed finance. You will be paying more month by month as you get longer into the term. But with the current market you might not get that much nearer! How much do you think it's depreciating monthly?

Alternatively get a remap and enjoy it more at the weekends!

[dxb335d]

Keep it;

[Dr.Crap]

Seeing as you are in negative equity on the car surely you would have to buy an absolute heap to truly save money over 3 years?

[Ben335i]

Originally Posted by botti335i

thanks threethirty- i have tried them, and they gave me the best price so far (21k). cheers.

That's interesting as I've just plumbed in my nicely spec'd 07 car with 27k miles and it only got bid £16.5k!

You'll be starting to make a dent in the capital on your car now 18 months in so you'll start chipping away a bit more significantly at that settlement figure, as long as it's not depreciating quicker (which it usually is!)

Cheers

Ben

[ShereKhan]

I've just tried this web site and they'll give me £9035 for mine (68k miles).

I've seen the 335d SE appear on our work scheme. Its double what I pay for mine but with bog standard spec.

Ben
Have you looked into selling or px your lease? As you might be able to swap for something cheaper?

[doughboy]

Originally Posted by Ben335i

as long as it's not depreciating quicker (which it usually is!)

Nice suprise in Glass's guide Mar 09 -

All 335i's are UP between £150 and £200 for the second month in a row!

Keep it for definite, by the time you get round to getting another fast car they'll probaby be illegal!

BTW Botti335i,

The March guide price for yours (manual I assume with leather and pro nav, +1300 for auto) is 21,975 retail, 19,475 trade (up £175 on Feb, same again for Mar-Apr)

[NFS]

Originally Posted by doughboy

Nice suprise in Glass's guide Mar 09 -

All 335i's are UP between £150 and £200 for the second month in a row!

Keep it for definite, by the time you get round to getting another fast car they'll probaby be illegal!

BTW Botti335i,

The March guide price for yours (manual I assume with leather and pro nav, +1300 for auto) is 21,975 retail, 19,475 trade (up £175 on Feb, same again for Mar-Apr)

Any upward movement in the used values of other cars - 330i?

[rogerxp]

I'm waiting for an upward turn of around £5k on my 330d for me to break even - any sign

[doughboy]

Originally Posted by NFS

Any upward movement in the used values of other cars - 330i?

Flicking through all the 3 series pages eveything is UP 100-250 in March.

06 330i saloon manual 36k up £150 to 16,100 retail, 13,650 trade

320d 177 saloon m sport edition 08 reg is up most at +400!