questions about buying new e90

[Schvoski]

Re: questions about buying new e90

HI all, would like to check with all of you is this a good deal?
2 y/o 325i with 38k mileage at $138.6k . I tink the price is abit high. How much do you guys think i can lower til its reasonable?

 

[arowana1]

Re: questions about buying new e90

why not get the 325 on sale in this forum? tink this is his sgcarmart advert Singapore Used Car. BMW 325I XL Sale by Owner - sgCarMart

 

[Newcastle]

Re: questions about buying new e90

Hey Arowan1,

thanks for the reply.

Basically for a 1 year old BMW E90 the price should be about $100 - $103 K approximate huh.



regards
Newcastle

 

[Newcastle]

Re: questions about buying new e90

Newcastle, here are the figures.

Assumptions:
1. COE at 19001
2. OMV at 41000
3. Car scrap at year 10
4. No body value
5. Int on loan not taken into consideration

Dep per year is 10145. sgcarmart prices are ridiculous. you pay higher depreciation compared to the 1st owner cos dealer earn big!!! a few cars that i have been monitoring are with the dealers for the past 3 months already. imagine, 850/mth depreciation and they can still hold for so long.

for a used e90, the price dealer take in seems to point to this formula for 0-2 year old e90:
Dealer Buy Price = Current new e90 - Depreciation - One Year Depreciation
hence for 1 year old e90, assume no premium/penalty for colour and mileage
DBP = 124000 - 10145 - 10145 = $ 103,710

e90 with few months left of warranty is best buy but u take a big risk!

in any case, i wont pay more than the above for 1 year old car. reason being, you save like 10k only for getting a used car. not really much of a savings, esp for a car like bimmer where wear and tear come quite early (4-5th year or 60-80k thereabouts).

if im not mistaken, pml takes in higher if u get another car from them?

actually in retrospect I cannot see why anyone will buy from sgcarmart when you can buy from performance used car selection...

reason being performance's prices is not really that far off from sgcarmart prices and some are even cheaper than sgcarmart....

plus with performance you get another 12 mths warranty whereas those on sgcarmart charge u more expensive and with limited 3 mths warranty.

both interest rate are the same.

anyway my personal opinion from monitoring on the ppsl.com.sg and sgcarmart.

 

[arowana1]

Re: questions about buying new e90

ppsl price oso quite high... i rather buy new unless i can get direct from owner and at good price. but becos i rather buy new, until now still money not enuf :-(

 

[Newcastle]

Re: questions about buying new e90

ppsl price oso quite high... i rather buy new unless i can get direct from owner and at good price. but becos i rather buy new, until now still money not enuf :-(

hi Arowana1, I always thought its more cost effective to buy used car as it is a common saying that a used car depreciate up to 30% in the first year of its usage.

but a scan around has shown that its is not the case. is that why it is more beneficial to get new car?

regards
Newcastle

 

[acupunch]

Re: questions about buying new e90

HI all, would like to check with all of you is this a good deal?
2 y/o 325i with 38k mileage at $138.6k . I tink the price is abit high. How much do you guys think i can lower til its reasonable?

why not get the 325 on sale in this forum? tink this is his sgcarmart advert Singapore Used Car. BMW 325I XL Sale by Owner - sgCarMart

given, $140K budget, no brainer I get that one on sgCarMart. but if colour choice is priority then its difficult choice.

 

[arowana1]

Re: questions about buying new e90

hi Arowana1, I always thought its more cost effective to buy used car as it is a common saying that a used car depreciate up to 30% in the first year of its usage.

but a scan around has shown that its is not the case. is that why it is more beneficial to get new car?

regards
Newcastle

yes, more economical to get used car if the used car price is free float. however, for bimmer, seems like pml/ppsl takes in at high price and sells at higher price. hence, existing owners rather trade in to pml in exchange for a new bimmer. tis sorta keep the used bimmer price up, imho. also keep their customers within bimmer. ppsl cars also used as loaners??? not sure about tis part. i believe they do sell off pml test drive cars.

if u take the formula i posted, if u assume car is to be sold after 5 years (becos no warranty and time to change parts, not to mention car!), the dep for the 2nd owner is very steep. in fact, the dep is higher than 1st owner. ironic isnt it?

if u can get a used bimmer direct from owner, and if owner will to sell at dealer price, then it may be worth it. else, hard to find a good bargain.

all this leads to:
1) first time buyers normally buy a new bimmer
2) bimmer owners always go back to pml
3) guys like us looking for good bargain on used cars gotta tkk
4) bimmer owners have price protection, or at least until the next facelift/model comes along
5) about time to buy now cos i tink prices should hit bottom as new facelift coming out

 

[ClemZ]

Re: questions about buying new e90

yes, more economical to get used car if the used car price is free float. however, for bimmer, seems like pml/ppsl takes in at high price and sells at higher price. hence, existing owners rather trade in to pml in exchange for a new bimmer. tis sorta keep the used bimmer price up, imho. also keep their customers within bimmer. ppsl cars also used as loaners??? not sure about tis part. i believe they do sell off pml test drive cars.

if u take the formula i posted, if u assume car is to be sold after 5 years (becos no warranty and time to change parts, not to mention car!), the dep for the 2nd owner is very steep. in fact, the dep is higher than 1st owner. ironic isnt it?

if u can get a used bimmer direct from owner, and if owner will to sell at dealer price, then it may be worth it. else, hard to find a good bargain.

all this leads to:
1) first time buyers normally buy a new bimmer
2) bimmer owners always go back to pml
3) guys like us looking for good bargain on used cars gotta tkk
4) bimmer owners have price protection, or at least until the next facelift/model comes along
5) about time to buy now cos i tink prices should hit bottom as new facelift coming out

good observations, mods should sticky your depre calculation formulas too !

it'll be wicked if you could post up an excel file with macros !

 

[arowana1]

Re: questions about buying new e90

good observations, mods should sticky your depre calculation formulas too !

it'll be wicked if you could post up an excel file with macros !

i have the file, thats how i calculate the various dep for all the e90 i see on sale

 

[Newcastle]

Re: questions about buying new e90

i have the file, thats how i calculate the various dep for all the e90 i see on sale

hey care to share the file with us all....

very useful...when I shared the revelation on depreciation to her..she was like.....wow...so the long held belief in used car may be a myth when u consider that u take on more depreciation...hehehehe

 

[Hon]

Re: questions about buying new e90

Care to share how much will I be expecting to pay if I will to buy a 320i new from PML and take a loan of 7yrs. I'm very new to buying car, can someone help me calculate the installment and misc charges that will pop up. thanks.

 

[Newcastle]

Re: questions about buying new e90

just called PML today...the E90 basic is about $131K, with loan of about 2.38T%.

price still high considering that the new facelift is coming this year in 4th quarter.

 

[arowana1]

Re: questions about buying new e90

Care to share how much will I be expecting to pay if I will to buy a 320i new from PML and take a loan of 7yrs. I'm very new to buying car, can someone help me calculate the installment and misc charges that will pop up. thanks.

Price COE OMV Dep/year (10 Years)
$124,000 $19,001 $41,000 $10,145.00

Car price $124,000.00
Loan amount $99,200.00 (80%)
Downpayment $24,800.00
Interest Rate 2.50%
Period (Years) 7
Total Interest $17,360.00
Monthly Installment $1,387.62

 

[Hon]

Re: questions about buying new e90

Wow... $1387, that's a lots of money to pay monthly. I don't have cash for full payment, I don't wish to drain my saving in the downpayment as well. Is taking 7yrs loan the usual Singaporean way in buying car?

 

[arowana1]

Re: questions about buying new e90

just called PML today...the E90 basic is about $131K, with loan of about 2.38T%.

price still high considering that the new facelift is coming this year in 4th quarter.

131k is the published price, i think.

2 weeks back, published price was:
131k for 320i-new
139k for 320i-professional
but when u talk to salesperson, the actual price is around:
124k for 320i-new
130k for 320i-professional

prices should still be around here until after today... see if cat b drop or not. demand has weaken lately.

 

[check13]

Re: questions about buying new e90

just called PML today...the E90 basic is about $131K, with loan of about 2.38T%.

price still high considering that the new facelift is coming this year in 4th quarter.

what is 2.38T %?

by the way, 131k is before 5k overtrade. so you can either

loan 131k and have 5k cash in hand which you can do whatever you want with it, or
loan 126k and you use the 5k for dp, or
loan 120k and you cough up 6k yourself to make it 11k for downpayment

many combos depending on what you want.

 

[arowana1]

Re: questions about buying new e90

Wow... $1387, that's a lots of money to pay monthly. I don't have cash for full payment, I don't wish to drain my saving in the downpayment as well. Is taking 7yrs loan the usual Singaporean way in buying car?

used to but nowadays, most people take 8-10 years. if newcastle quoted int rate is 2.38% without any catch, then taking a longer loan looks ok cos u take advantage of lower rate. 2 weeks ago, i was quoted 2.5%

here is 8 years on 2.38%
Car price $124,000.00
Loan amount $99,200.00
Downpayment $24,800.00
Interest Rate 2.38%
Period (Years) 8
Total Interest $18,887.68
Monthly $1,230.08

 

[check13]

Re: questions about buying new e90

131k is the published price, i think.

2 weeks back, published price was:
131k for 320i-new
139k for 320i-professional
but when u talk to salesperson, the actual price is around:
124k for 320i-new
130k for 320i-professional

prices should still be around here until after today... see if cat b drop or not. demand has weaken lately.

COE cat B dropped again. Chances are prices will drop again plus facelift coming out soon.

 

[Newcastle]

Re: questions about buying new e90

what is 2.38T %?

by the way, 131k is before 5k overtrade. so you can either

loan 131k and have 5k cash in hand which you can do whatever you want with it, or
loan 126k and you use the 5k for dp, or
loan 120k and you cough up 6k yourself to make it 11k for downpayment

many combos depending on what you want.

hi. does it means that the $5K is always there for you to assist in purchase?

so suppose I wanna take a loan of $110K and and the car is $131K, can I then need to fork out just $16K assuming the remaining $5k is from the overtrade?

and will prices drop?