Sell or Keep? E60, what's the value?

[stektan]

Hi all,

Am driving a E60 525i which is 6.5 years old now and at 89K mileage. Car is basically ok except for small issues here and there but nothing major. Am faced with the option of;

1. Drive the car for another 1.5 - 2 years before thinking about a new car again.

2. Sell the car and get a newer car. I reckon that my car can probably fetch arount 75K (assume 12.5K depreciation which I think is conservative)

My biggest concern is that if I sell the car in 1.5-2 years time, it will only fetch paper value ($31K) + a little body value since it will definitely hit more than 100K mileage then and will probably have alot of issues.

So question is - does it matter to sell when it's 6.5 years or when it is 8 years or older? Any advice appreciated.

 

[ac323]

Re: Sell or Keep? E60, what's the value?

Hi all,

Am driving a E60 525i which is 6.5 years old now and at 89K mileage. Car is basically ok except for small issues here and there but nothing major. Am faced with the option of;

1. Drive the car for another 1.5 - 2 years before thinking about a new car again.

2. Sell the car and get a newer car. I reckon that my car can probably fetch arount 75K (assume 12.5K depreciation which I think is conservative)

My biggest concern is that if I sell the car in 1.5-2 years time, it will only fetch paper value ($31K) + a little body value since it will definitely hit more than 100K mileage then and will probably have alot of issues.

So question is - does it matter to sell when it's 6.5 years or when it is 8 years or older? Any advice appreciated.

Hi stek,

wow, that's considered quite low mileage for a 6.5 year ride......
is yours the M54 engine variant or N52? ( should be M54 ) i think most owner will want to look for a newer engine car with more option or feature.............
you should be able to fetch a better price for your ride consider is low mileage but sell high now also mean buy high, as now COE high (for a new car) and dealer also pushing-up used car price much higher than before...........Another thing is if you decide to sell in 1 to 2 years later i think is hard to predict your selling price as there may be more newer car on the market so there will always be competition.
1 concern is also your car is left with 3.5 years so it might be hard for the next owner to take up a loan (just in case he is taking up a loan)..........

if the car is still functioning well might as well keep it unless there's a need to change to something better...............(E60 is still looking good)




* go with your heart
* it just my opinion, don't flame me....
cheers

 

[stektan]

Re: Sell or Keep? E60, what's the value?

Thanks for the inputs...

Anyone knows any agent or contact who is keen to take a car of this age for export?

 

[12 Deal]

Re: Sell or Keep? E60, what's the value?

E60 is quite a gd & reliable car. Well ur mileage is consider low mentioned by ac323. If able to sell the car at a reasonable price, is gd enough since your car is 6.5yrs and buy a 2nd car or downgrade will be a wise choice rather than buy a new car. Well you can try SK Auto – Look for Mr Kong Lee (Hp:90022002). Guess he able to give you advice. Mostly they are dealing with Export and selling 2nd Jap cars for ur info. :woottt:

 

[stektan]

Re: Sell or Keep? E60, what's the value?

Thanks for the contact, will check with SK Auto.... yes, seems to make sense to sell the car while it still have some value and downgrade to a cheaper used but newer car..

 

[henry2703]

Re: Sell or Keep? E60, what's the value?

Actually, just as a gauge, a friend of mine, just purchase a 6 year old 730i, mileage 73k. for a grand total of 88k (inclusive of Transfer fees)

so in all honesty, if someone offers you 75k for your car, if i were you, i will take it!

Then go look for another car...

 

[Jason8822]

Re: Sell or Keep? E60, what's the value?

stek,

my opinion is to keep your car if its still running ok with no major faults surfacing
if you sell now and buy a new car, you will not be exactly selling high buy high cos your coe left 3.5yr meaning your car will not benefit so much from the current high coe.

an example of sell high buy high is - my friend traded in his 1ys old car recently at the price he bought it a yr ago and he was telling me change car when its 1yr old will not lose money ......
let's see how long this statement stands

 

[stektan]

Re: Sell or Keep? E60, what's the value?

stek,

my opinion is to keep your car if its still running ok with no major faults surfacing
if you sell now and buy a new car, you will not be exactly selling high buy high cos your coe left 3.5yr meaning your car will not benefit so much from the current high coe.

an example of sell high buy high is - my friend traded in his 1ys old car recently at the price he bought it a yr ago and he was telling me change car when its 1yr old will not lose money ......
let's see how long this statement stands

Ya, i'm torn between selling the car now or in 1.5 - 2 years down the road. Sell now, I get 70K and top up another 40K, can get a 08 GTI and not have to worry about a car for a few more years. Sell in 2 years time, probably can fetch 45-50K and by that time, don;t know what car price and COE will be. Given the cuts in no. of COE, i don't see how COE prices can drop below 10K unless major recession.

 

[ac323]

Re: Sell or Keep? E60, what's the value?

Ya, i'm torn between selling the car now or in 1.5 - 2 years down the road. Sell now, I get 70K and top up another 40K, can get a 08 GTI and not have to worry about a car for a few more years. Sell in 2 years time, probably can fetch 45-50K and by that time, don;t know what car price and COE will be. Given the cuts in no. of COE, i don't see how COE prices can drop below 10K unless major recession.

Hi Stek,

last heard was minimum kept at S$30k for COE.................(E60 better............why GTI or is it GTR????)
* unless i heard wrongly.........


cheers

 

[geksai]

Re: Sell or Keep? E60, what's the value?

Hi Stek,

last heard was minimum kept at S$30k for COE.................(E60 better............why GTI or is it GTR????)
* unless i heard wrongly.........


cheers

+1
I just sold my 2010 vw golf and got a used e60

 

[Jason8822]

Re: Sell or Keep? E60, what's the value?

i was considering about changing to a golf git too
why this E60 -> GTi and GTi - > E60 musical chair ???