Just spent the day at a BMW 'SuperSale' at BCA Bedford, to source a vehicle, for a customer.
I'm not a big fan of BMW's, but plenty of people are, over 200 'showroom prepared' models to choose, right accross the range, so spoilt for choice really.
But the one thing that WAS apparent, out of the entry, all from the brand,directly, either their group stock, or leased/financed vehicles, was that more than 60 were repossessions!!!
Not only that, plenty had 2/3/4 PREVIOUS owners & incomplete histories.
A sure sign of the hard to keep up with, cost of running a premium motor - or maybe the difficulties, many people might be heading for, when £$£$£ gets a bit tight!
Anyway, here's, my Auction Report, from a few examples....
04 54 645Ci conv 48834 miles cost new £66305 today £33500
05 05 X3 2.0D 15662 '' '' '' £29190 '' £20300
03 03 525D ES SE Touring 63255 '' '' '' £28605 '' £10500
02 52 316i SE Auto 51909 '' '' '' £21945 '' £8300
03 03 MINI Cooper S 40689 '' '' '' £17280 '' £10000
04 04 X5 3.0 D Sport 24654 '' '' '' £39100 '' £22700
03 53 735i Sport 36295 '' '' '' £56825 '' £21800
04 04 530DSE (new) 63813 '' '' '' £34810 '' £15400
05 54 325 CiM Sport conv 13827 '' '' '' £32890 '' £21000
05 05 MINI Cooper 48505 '' '' '' £15365 '' £10900
Lots more, of course, but at least you get an idea - many had LOADS toys, too!!
VB
{amended column spacing for better clarity - DD}
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Very interesting, thanks for posting that.
The two 5 Series cars look very cheap.
The 645 and 735 hits are horrendous, but you have to wonder even at those prices, who would want to take them on?
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By co-incidence I saw two BMW (new shape) 530d SE's in perfectly good condition sell well below (£2000) book today at auction as well. One had leather, neither had big wheels but were still cheap. Perhaps new shape 5-Series are now coming through in numbers and prices are on the wane.
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Interesting residuals, with so many about & selling more than Mondeo's is the residuals going to take a hit. That'll hit those on balloon type finance so could be even more repo's?
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£8300 for a 4-year-old 1.6 Mondeo-class.
And that's the bargain price.
There's one born every minute....
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Be cautious about the number of repos - cars returned to the finance company once 50% of the payments have been made are often referred to as repossessed.
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£8300 for a 4-year-old 1.6 Mondeo-class.
Err.... make that a 1.8
... sorry, couldn't help it...:)
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That 735i went for the Parkers guide price for a 525i SE at the same age and mileage!
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Are you sure they were all 'sold' ?
My experience of auctions is that its sometimes difficult to determine if its 'sold' , 'sold provisional' or hammer goes down and car not sold to anyone as its well under the reserve price
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As Massey, mentions about sold or just provisionals - this is one of the attractions to a 'Special' sale, the auction company will have done their bit in advertising/promoting the sale, more so than a normal auction, making sure that it's targeted buyers will be there.
& it will also have the representative from the fleet company on the rostrum, making INSTANT decisions & more often than not the hammer is dropped there n then.
I don't think there will be many re-runs from yesterday!
VB
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