Australian X1 resale values

[frayedsheet]

So has anyone got opinions as to why X1's dont seem to be holding their value very well? I unfortunately am having to sell mine while its not even 18 months old. Its advertised nearly $20,000 below cost and no one is interested...

http://www.carsales.com.au/private/d...1&sort=default

[danintas]

I couldn't see the link ... I got a message saying "Server Busy", but 18 months is way too early to sell a car and expect a reasonable price relative to the new price in Australia.

I would be looking at way more than 30% off the equivalent new price to quit an 18 month old BMW, or for that matter, any other marque!

Prestige cars in Australia depreciate at a much higher rate in the first couple of years, than in subsequent years.

Good luck with the sale ... sometimes patience is required to get the best price.

[jctg]

Most people buying BMWs new or nearly new in Australia would be on lease. So why would anyone for the sake of a few hundred dollars a month, get a second hand car rather than a new car, which has the full 3 year warranty and roadside assist plus you would typically get a replacement new car in the first two years if the car is a writeoff from the insurance company (at least from AAMI).

Which is why a new car would drop a few grand as soon as it hits the road anhen depreciation rate slows down. The first 18 to 24 months are the hardest on depreciation. I expect the X1 to hold its value well after 4 years. Redbook is still saying 66 - 67% after 3 years which is more than decent.

[frayedsheet]

Originally Posted by danintas

I couldn't see the link ... I got a message saying "Server Busy", but 18 months is way too early to sell a car and expect a reasonable price relative to the new price in Australia.

I would be looking at way more than 30% off the equivalent new price to quit an 18 month old BMW, or for that matter, any other marque!

Prestige cars in Australia depreciate at a much higher rate in the first couple of years, than in subsequent years.

Good luck with the sale ... sometimes patience is required to get the best price.

Fair enough... Though it is advertised at near 30% less than the new price and I'd accept 30% less than the new price. That would save a buyer over $400 per month on lease payments making the monthly payment just over 2/3's what it would be on a brand new car. No long wait for the car to be delivered either!

[Nayook]

Have you considered if there is a better chance of a decent price from Pickles Auctions?

[danintas]

I can see your advertisement now ... the car has some great options, which unfortunately also loads up the the new price.

Still at that price I would consider it a very good buy!

[frayedsheet]

Originally Posted by colojim

Have you considered if there is a better chance of a decent price from Pickles Auctions?

48K

[brettnosse]

Looks good car!! I would think it would sell quick! Maybe change the main pic? That might get some interest. ie perhaps a shot just before Dusk, with the lights on??? Kinda like I did with my Cooper S ? that got lots more looks than the car did with just a day shot...

[frayedsheet]

yeah... i was thinking about that! good point.