Looking for a 520, 523 or 525 + Qns on mkt prices

[equivlin]

have been looking around for few months for a 2004 to 2005 one . Any keen sellers pls PM me. Thks!

Got a few questions to consult you guys:

1. Heard the earliest batch of 520 has transmission problems. I wonder how bad and how prevalent it is.

2. Some dealers told me they are willing to take in a 520 or 523 only at $33k above paper value. Some said less than $30k.

3. I really doubt the asking prices on SGcar mart or PPSL are fair. Most of the them are quoting a depre rate (to 5 yrs) which is very close to a brand new car. Eg. A brand new 525 depre (to 5th yr) is abt S$20k.........Depre (to 5yr) for a 2-3 yr old 520 is about $17-18k p.a. .....and S$20k p.a. for a similar 523.

pls advise. Thks!

 

[porky]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

i agree that it's a very hard decision between buying a brand new and used one...
a brand new bmw 523i is abt 167k but a 2 year old is selling at 30k difference only... Consider that we have to pay transfer fee, higher interest rates... hmmm....

 

[kenntona]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

I am having the same problems. FYI, equivlin is my colleague. I have made the following observations:

(1) 2003/4 cars carry high COE on top of 65% scheme, hence high asking price. If one really buys these cars, gotta export the car by 5 years. This makes buying these cars a transitory act. 1 or 2 years to drive.

(2) 520 is phased out by 523. 523 essentially is 525 de-tuned. Anyone knows the body value of these models? Gotta factor that in for working 5-year depreciation. What about 530?

(3) What a fair depreciation figure to even bargain for a 2-year old 525 or 530? Some told me $12K (to 10th year) per year for a 525, and $13.5K (to 10th) per year for a 530. Fair?

(4) Any opinion on 2-year old 5er, given that the new valvetronic engine in 2006 replaces these older models? Some say stick to the old M54 engine for mod-ability, some say take the new engine...... Confused.

 

[totoseow]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

ken my cars omv is 85k...u r right....but again i may sell...gimme a few weeks to decide...

 

[TripleM]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

U should hv sold ur car last year ( to ur neighbour )

 

[Turbo]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

needless to say, imho, the best deal is to get a direct owner sale and deal at a price midrange bwt what the dealer can offer to seller and what the dealer will then resale it to the secondary mkt. For example, 523 going at a quote of $120k and they will resale it at least 10k above their bought in price, i.e. $130k. Win win situation for buyer-seller at $125k.

The 523 paper value will be in the region of $60k/70k plus hence with the body price as you mentioned at $30k plus, the take in value will be $100k plus, padon me, the dealer that tell you this suck big time.
523 resale is based on depreciation more than body plus paper at present moment. Most likely the dealer will take in 11k plus/minus and resale it at a close 12k dep/yr. hence their margin is close or more than 10k as mentioned.

May 2005 523(being first batch ) on a reasonable mileage, dealer will makan at a high side of $120k,some might exceed 130k. Again, this is juz a general rule. you need to consider others factor such as any mod, mileage and color as well.

hope it help

 

[totoseow]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

jack no real hurry...if i had sold the car i wud hv been stuck with lung's car now....lucky never!

 

[TripleM]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

well partly true, but u would hv enjoyed something different also.................
but i hear ya, no regrets.

 

[totoseow]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

i know...ok back to topic....sorry for OT...nowadays i like to OT....

 

[porky]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

Hmmm... just wanna share a few thoughts after the budget which means no change in parf system..

most of the 03/04 520 are waiting to be export out of the country liao...
main concern are the '05 BMW 523I in the mkt vs Brand new ones...

'05 Bmw 523i are selling about 137k... new ones abt 167k

i have squeeze most of the dealers in the mkt liao

they said that the 05 523i paper value are higher but i would beg to differ

Paper value = parf rebate + COE Rebate

Cars registered in 2005 fall under the 110% ARF System... which means the parf at the end of 10 years is 55% of OMV.
New cars fall under the same category.

Presume i were to drive for 3 years,(2010), the 05 cars would be 5 years old, there fore the parf rebate would be 87.5% of the OMV. New cars parf rebate will still be the same.

COE Rebate. The average COE for 2005 is about 15K. which means in 2010, the COE Rebate is about 7.5K, Brand new COE is still hovering around 10k, which means in 2010, the COE rebate is about 7k.

Which means that 3 years down the road, the paper value of 2005 bmw523 will be the same as the paper value of a bmw2007..

In 2010, if a 5 year old 523I can fetch 15k, i think a 3 year old one can fetch about 30k easily...

so if i spend 30k more now to buy a brand new car, i can sell for 15k more in 3years down the road, it means that i only pay extra 15k spread over 3 years which means about 5k extra per year...

but there are a few factors to consider too... like a lower bank loan interest rate, no transfer fee, no inspection for the 1st 3 years, warranty, accident free...

But the most important factor is the feel of a brand new car... the smell of the fresh Dakota Leather, the virgin feel of the car...

i dont have to worry whether the previous owner is a ah beng driver who whack the car, i dont have to worry whether the previous owner did anything to the car or even dirty the car...

Most impt is, in the past it's very hard to own a brand new car cos they required a min 30% downpayment, now brand new car dont need so much downpayment, i heard even got cashback.. it gives people like me a chance to own brand new cars.. dont know when the MAS gonna change the ruling back to min 30% downpayment.. by then even want to buy also cannot afford liao...

just my 2 cents worth of opinion..

hope to receive some suggestion too...

 

[CoolBlue6699]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

The 523 paper value will be in the region of $60k/70k plus hence with the body price as you mentioned at $30k plus, the take in value will be $100k plus, padon me, the dealer that tell you this suck big time.
523 resale is based on depreciation more than body plus paper at present moment. Most likely the dealer will take in 11k plus/minus and resale it at a close 12k dep/yr. hence their margin is close or more than 10k as mentioned.

Bro, I think you have not try to sell your car to a dealer recently. Any car which is more than 1.5yrs old will be quoted only paper + body, even PML !!! Dealer selling will talk to you in dep/yr when buy in will be paper + body.

One thing you are very right, dealers suck big time :furious:

 

[Turbo]

Re: Looking for a 520, 523 or 525 + Qns on mkt prices

Bro, I think you have not try to sell your car to a dealer recently. Any car which is more than 1.5yrs old will be quoted only paper + body, even PML !!! Dealer selling will talk to you in dep/yr when buy in will be paper + body.

One thing you are very right, dealers suck big time :furious:

heehee, in fact i just sold mine a mth plus back, not too sure how you define recent though, don think my figure can be far off.

i guess it's a willing buyer - willing seller thingy, dealer also need to earn lah, at least the price quote shd be "reasonable", that's what i meant.