Finance Question - BMW 3-Series (E90 E92) Forum

gerbil_b · 01-20-2010, 12:32 PM

Ok, i am hoping someone here can help me. My BMW 318i is going in the next few months to be replaced by an estate and a caterham Roadsport. The question i have is how does the trading in policy work on a car that is worth less than my used BMW.

I have been really cheeky and said i want £16k for my BM, realistically would take £15k as this is its value on parkers car guide. I owe roughly £7k on the BM. The car i would be trading it in against is a 59 plate which they are asking £12995 for. Am i right in thinking that the profit between the money i owe and the price i get will just go onto the new car:

Hypoteticaly:

- I get £15,000 for my car
- £7,000 finance paid off leaving me £8,000
-The £8,000 goes on the new car and i only owe the difference between the deposit of £8,000 and the price of the new car.

I hope this makes sense. Or am i better trying to sell the car privately an then taken my cash into the dealer for the new car and get a better deal that way?

Hope this all makes sense and someone can assist me.

e90abc · 01-22-2010, 07:24 AM

I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal.

willhollin · 01-22-2010, 07:39 AM

AlanQS · 01-22-2010, 08:12 AM

By e90abc: "I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal."

Erm, as you can see, he's from the Isle of Lewis. Why on earth would you think it's a good idea for him to travel to Kent for another car?

gerbil_b · 01-22-2010, 08:50 AM

Thanks alan fo noticing haha, i will probably getting the car in glasgow and getting it delivered to inverness, most likely going to be a ford mondeo estate, found a 2L diesel with 25 miles on it 59 plate for £12K so going to drive one on monday and see what it is like. I was looking at a 320d but its going to be used for the dog mostly and possibly kids with the missus nephew and my wee bro so will get messy, would rather have a cheaper car and spend the savings on a caterham !!!

Thanks all !!!

NFS · 01-22-2010, 11:04 AM

Quote:

Originally Posted by e90abc

I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal.

Surely this is not what I think it is?

Can they be that stupid?

willhollin · 01-22-2010, 11:45 AM

Quote:

Originally Posted by NFS

Surely this is not what I think it is?

Can they be that stupid?

Check out their previous posts.

NFS · 01-22-2010, 11:47 AM

Quote:

Originally Posted by willhollin

Check out their previous posts.

I know ... but this is really really stupid.

gerbil_b · 01-22-2010, 11:52 AM

before anyone says anything else i will not be buying from motoring world !!!

willhollin · 01-22-2010, 11:54 AM

Quote:

Originally Posted by NFS

I know ... but this is really really stupid.

They did try, nearly 50 posts before being rumbled.

NFS · 01-22-2010, 12:05 PM

Quote:

Originally Posted by gerbil_b

before anyone says anything else i will not be buying from motoring world !!!

They seem a bit thick though. They might add up the price wrong an undercharge you by £10k

BoBBoB · 01-22-2010, 12:20 PM

Quote:

Originally Posted by e90abc

I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal.

OMFG ..... not again, 50 posts you waited to do this, you are a ****

E902717 · 01-22-2010, 12:25 PM

Quote:

Originally Posted by e90abc

I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal.

What a muppet...Do they think we are that stupid

Hotcoupe · 01-22-2010, 12:26 PM

Quote:

Originally Posted by NFS

Surely this is not what I think it is?

Can they be that stupid?

Drives: E90 330d sport

Join Date: Nov 2009
Location: Essex

There's a clue there somewhere

Dr Dave · 01-22-2010, 12:33 PM

gerbil_b · 01-22-2010, 01:54 PM

hmmmmmmmm

AlanQS · 01-22-2010, 02:46 PM

A lot of one word posts on the American side of the forums and short one sentence posts on our side.

I had my suspicions....

01-20-2010, 12:32 PM	#1
gerbil_b First Lieutenant Drives: Skoda Octavia DSG TDi Join Date: Apr 2009 Location: Tong, Isle Of Lewis Posts: 307 iTrader: (0) Garage List 2008 318i [0.00] 2006 Hyundai Coupe [0.00]	Finance Question Ok, i am hoping someone here can help me. My BMW 318i is going in the next few months to be replaced by an estate and a caterham Roadsport. The question i have is how does the trading in policy work on a car that is worth less than my used BMW. I have been really cheeky and said i want £16k for my BM, realistically would take £15k as this is its value on parkers car guide. I owe roughly £7k on the BM. The car i would be trading it in against is a 59 plate which they are asking £12995 for. Am i right in thinking that the profit between the money i owe and the price i get will just go onto the new car: Hypoteticaly: - I get £15,000 for my car - £7,000 finance paid off leaving me £8,000 -The £8,000 goes on the new car and i only owe the difference between the deposit of £8,000 and the price of the new car. I hope this makes sense. Or am i better trying to sell the car privately an then taken my cash into the dealer for the new car and get a better deal that way? Hope this all makes sense and someone can assist me.
	Tweet

01-22-2010, 07:39 AM	#3
willhollin Major General Drives: VW T5 Join Date: Apr 2008 Location: Worcestershire Posts: 9,871 iTrader: (1) Garage List 2007 BMW E92 330d SE [5.00] 2010 Transporter T5 ... [0.00]	__________________

01-22-2010, 08:12 AM	#4
AlanQS Colonel Drives: 320d SE Coupe Join Date: Jan 2008 Location: Glasgow Posts: 2,451 iTrader: (0) Garage List 2008 320d SE Coupe [0.00]	By e90abc: "I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal." Erm, as you can see, he's from the Isle of Lewis. Why on earth would you think it's a good idea for him to travel to Kent for another car? __________________

01-22-2010, 12:33 PM	#15
Dr Dave Zummerzet Zyder Drinker! Drives: '06 330D Le Mans Blue Join Date: May 2009 Location: Somerset Posts: 5,481 iTrader: (3) Garage List 2006 330d M Sport [0.00]	__________________

01-22-2010, 02:46 PM	#17
AlanQS Colonel Drives: 320d SE Coupe Join Date: Jan 2008 Location: Glasgow Posts: 2,451 iTrader: (0) Garage List 2008 320d SE Coupe [0.00]	A lot of one word posts on the American side of the forums and short one sentence posts on our side. I had my suspicions.... __________________

01-22-2010, 07:24 AM	#2
e90abc Banned Drives: E90 330d sport Join Date: Nov 2009 Location: Essex Posts: 49 iTrader: (0)	I just got a new car from big motoring world and got an excellent service even with all the bad press on here, you may getter a better deal without a p/x but do you want the head ache of selling it yourself?? You are right in saying that the equity in your car will go towards the new car. Try out big motoring world, big selection and cheap too. Good luck pal.

01-22-2010, 08:50 AM	#5
gerbil_b First Lieutenant Drives: Skoda Octavia DSG TDi Join Date: Apr 2009 Location: Tong, Isle Of Lewis Posts: 307 iTrader: (0) Garage List 2008 318i [0.00] 2006 Hyundai Coupe [0.00]	Thanks alan fo noticing haha, i will probably getting the car in glasgow and getting it delivered to inverness, most likely going to be a ford mondeo estate, found a 2L diesel with 25 miles on it 59 plate for £12K so going to drive one on monday and see what it is like. I was looking at a 320d but its going to be used for the dog mostly and possibly kids with the missus nephew and my wee bro so will get messy, would rather have a cheaper car and spend the savings on a caterham !!! Thanks all !!!

01-22-2010, 11:52 AM	#9
gerbil_b First Lieutenant Drives: Skoda Octavia DSG TDi Join Date: Apr 2009 Location: Tong, Isle Of Lewis Posts: 307 iTrader: (0) Garage List 2008 318i [0.00] 2006 Hyundai Coupe [0.00]	before anyone says anything else i will not be buying from motoring world !!!

01-22-2010, 01:54 PM	#16
gerbil_b First Lieutenant Drives: Skoda Octavia DSG TDi Join Date: Apr 2009 Location: Tong, Isle Of Lewis Posts: 307 iTrader: (0) Garage List 2008 318i [0.00] 2006 Hyundai Coupe [0.00]	hmmmmmmmm

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