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Should I Buy? Jan 07 523i

NetDreamer

Well-Known Member
A friend is thinking of upgrading and asked me whether I am interested in the Jan 07 523i with only 30,000 km. Free servicing (don't know whether transferrable?) included. Great condition, accident free. Asking for $110k. Should I buy? Any advice is welcomed. Cheers and Happy Lunar New Year to all.
 
Re: Should I Buy? Jan 07 523i

Work out the annual depreciation as a guide. Good to be buying from a trusted friend as you would then know the condition of the car. Pricewise, I think given the economy, the direction may well be southwards.
 
Re: Should I Buy? Jan 07 523i

Hi bro,
The OMV should be around $50-52k. If we take it as $51k (median), The annual straight line depreciation will then work out to be around $10,243.

1 year ago this will be not bad. But with the market today, this is not a splendid deal. It is just a normal price, quoted by a normal dealer.

Any plus points, like mods that had been done?

Anyway, good luck to your purchase! (don't let iscoupe beat you to it, he's also looking for a 523....:lol2: )
 
Re: Should I Buy? Jan 07 523i

NetDreamer;411469 said:
A friend is thinking of upgrading and asked me whether I am interested in the Jan 07 523i with only 30,000 km. Free servicing (don't know whether transferrable?) included. Great condition, accident free. Asking for $110k. Should I buy? Any advice is welcomed. Cheers and Happy Lunar New Year to all.
Sorry, just to add:
- if it's a direct owner selling, the price should be lower than that quoted by a dealer. Get a dealer's sales price for such a car, then reduce that price by a few thousands. Alternatively, get a dealer's quote for the purchase price for such a car, and increase that by a few thousands. Or get 2 kinds of quote (buy and sell) and calculate the median price.
- You'll have 1 more year of free servicing. It follows the car, not the driver.
- The mileage of 30,000km for a 2 year-old car is not high, but it is not that low either. It is just average mileage. So that's not a selling point.
- Most 523 are driven by mature and responsible men/women. Most are in great condition and accident free. Shouldn't be a major selling point as well.

ha ha, hope my advice to you above can help you to slash the price by at least $5k - $8k!!
 
Re: Should I Buy? Jan 07 523i

Why sell car to friends means have to sell lower than the dealers?

i beg to differ.... i would go to the dealers and get a quote... and offer a couple thousand more if i were to buy a car from a friend. otherwise, he might as well sell the the to the dealer directly....

yes? no?
 
Re: Should I Buy? Jan 07 523i

henry2703;411546 said:
Why sell car to friends means have to sell lower than the dealers?

i beg to differ.... i would go to the dealers and get a quote... and offer a couple thousand more if i were to buy a car from a friend. otherwise, he might as well sell the the to the dealer directly....

yes? no?

Agreed henry. Paiseh, it's just that I typed too fast and didn't specify clearly. What I meant is the dealer's quotation for the sales price of such a car, not the purchase price :) . Amended my earlier post....
Too early, my wires still not working properly :lol2:
 
Re: Should I Buy? Jan 07 523i

10+ not a great deal - i think 9+ depre is... I almost bought a 523 2 year old at 9600 depre... but decided on a 325 instead :)
 
Re: Should I Buy? Jan 07 523i

murphys33;411577 said:
10+ not a great deal - i think 9+ depre is... I almost bought a 523 2 year old at 9600 depre... but decided on a 325 instead :)
Heh heh, me also originally thinking of E60, but was afraid it'll make me look old....so thinking of e90 instead. Makes me look younger!

Sorry for OT....
 
Re: Should I Buy? Jan 07 523i

henry2703;411546 said:
Why sell car to friends means have to sell lower than the dealers?

i beg to differ.... i would go to the dealers and get a quote... and offer a couple thousand more if i were to buy a car from a friend. otherwise, he might as well sell the the to the dealer directly....

yes? no?
u r rite Henry! in terms of prc level/guide to buy from so call "friend"...


NetDreamer;411469 said:
A friend is thinking of upgrading and asked me whether I am interested in the Jan 07 523i with only 30,000 km. Free servicing (don't know whether transferrable?) included. Great condition, accident free. Asking for $110k. Should I buy? Any advice is welcomed. Cheers and Happy Lunar New Year to all.

Netdreamer, its abt YOU. do u need it? or u want it?
need - means can do without unless price is damn gud like $85 (dealer recent price offer level)
want it - means tis 523 is a beauty to you, n has all sorts of mods that you like.

I was like you 4 mths back...n i was scouting ard for a good deal, with dealers n prvt owners alike.
Quoted $115k Jan/07, next day, sms me say offer $110k :yikess:
n yr friend is old model, not the XLI model which is higher spec like 190bhp compare to 177bhp.

good luck to you.
My word of advise; if can afford, buy it.
But dont come ard here...as there r many "poison" ard...it will burn a big hole to yr pocket very soon.
:lol2:
 
Re: Should I Buy? Jan 07 523i

i think you can hold out - i did - i relocated back to singapore in december but was looking out for a ride - was monitoring the prices of bmws both 3 sand 5 series - prices have been on a steady downtrend till i bot my current ride just 3 weeks ago. for 523, i have seen 12+k to 9+k depre over the last 3 months and these were for rides under 3years and with good mileage. For 3 series, I think prices have been stable around high 8 to 9k depre for 323 and 325.
If you have any reservations, do not buy. Its a buyer's market if you look at the trend of COEs. Your patience may well pay off.
 
Re: Should I Buy? Jan 07 523i

murphys33;411597 said:
i think you can hold out - i did - i relocated back to singapore in december but was looking out for a ride - was monitoring the prices of bmws both 3 sand 5 series - prices have been on a steady downtrend till i bot my current ride just 3 weeks ago. for 523, i have seen 12+k to 9+k depre over the last 3 months and these were for rides under 3years and with good mileage. For 3 series, I think prices have been stable around high 8 to 9k depre for 323 and 325.
If you have any reservations, do not buy. Its a buyer's market if you look at the trend of COEs. Your patience may well pay off.
Noted, thanks for advice!
 
Re: Should I Buy? Jan 07 523i

C3P0;411542 said:
- Most 523 are driven by mature and responsible men/women. Most are in great condition and accident free. Shouldn't be a major selling point as well.

hee... i like the mature and responsible notion tt u attached to ppl driving the car.. :lol2:
k lar, so far buang once, kerbed qt a few times.. otherwise.. still ok.. :nehnehhh:

C3P0;411583 said:
Heh heh, me also originally thinking of E60, but was afraid it'll make me look old....so thinking of e90 instead. Makes me look younger!

sobs.. am i that OLD.... :yikess:
 
Re: Should I Buy? Jan 07 523i

chinnie86;411667 said:
hee... i like the mature and responsible notion tt u attached to ppl driving the car.. :lol2:
k lar, so far buang once, kerbed qt a few times.. otherwise.. still ok.. :nehnehhh:
Err....for once I'm out of words..... :lol2: :lol2:

chinnie86;411667 said:
sobs.. am i that OLD.... :yikess:
No la, problem lies with people like me, who are neither here nor there. Go zouk no one wants to dance with me, go coffee shop I'm too young to mix with the uncles. So afraid of people thinking me old loh.....:(
You don't have to worry, you look very young, people won't mistake your age.:thumbsup:

Come to think of it, why you choose e60 instead of e9x? Anyway, we can discuss this further in the next meetup...me don't want to OT too much in the thread, wait kena slap by thread starter :slaphead: :lol:
 
Re: Should I Buy? Jan 07 523i

C3P0;411682 said:
Err....for once I'm out of words..... :lol2: :lol2:

No la, problem lies with people like me, who are neither here nor there. Go zouk no one wants to dance with me, go coffee shop I'm too young to mix with the uncles. So afraid of people thinking me old loh.....:(
You don't have to worry, you look very young, people won't mistake your age.:thumbsup:

Come to think of it, why you choose e60 instead of e9x? Anyway, we can discuss this further in the next meetup...me don't want to OT too much in the thread, wait kena slap by thread starter :slaphead: :lol:

haha.. actually its all about the lights :) i better dont OT too.. tell ya more abt it next time!
 
Re: Should I Buy? Jan 07 523i

Can somebody guide me to what is the website to our local E60 discussion forum?
 
Re: Should I Buy? Jan 07 523i

MapleLeaf;411741 said:
Can somebody guide me to what is the website to our local E60 discussion forum?

Y must be so special?
its all sama-sama la...

I'm on a 5 too. wat do u wish to talk abt?
 
Re: Should I Buy? Jan 07 523i

murphys33;411597 said:
If you have any reservations, do not buy. Its a buyer's market if you look at the trend of COEs. Your patience may well pay off.

Thanks. This is good advice. :)
 
Re: Should I Buy? Jan 07 523i

C3P0;411542 said:
Sorry, just to add:
- if it's a direct owner selling, the price should be lower than that quoted by a dealer. Get a dealer's sales price for such a car, then reduce that price by a few thousands. Alternatively, get a dealer's quote for the purchase price for such a car, and increase that by a few thousands. Or get 2 kinds of quote (buy and sell) and calculate the median price.
- You'll have 1 more year of free servicing. It follows the car, not the driver.
- The mileage of 30,000km for a 2 year-old car is not high, but it is not that low either. It is just average mileage. So that's not a selling point.
- Most 523 are driven by mature and responsible men/women. Most are in great condition and accident free. Shouldn't be a major selling point as well.

ha ha, hope my advice to you above can help you to slash the price by at least $5k - $8k!!

Thanks. Was thinking that 100K will be better. But was informed that the new car dealer (don't want to mention name) is offering 110k trade-in. Check sgcarmart, there is a XL on sale @ 117k, thus thot 110K is a very good pricefor trade-in. Need to think think think. More want than needs :)
 

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