Shocking depreciation just 10months later!

[Gee_kay]

Hi there

I bought an X1 f48 last year purchase price was £16,5k, maintenance in the last year has been £1.2k. Insurance £1.7k

Now looking to sell as it's been more difficult financially than I initially thought and looked at same cars with similar factors ie mileage, age model msport etc and the value is around £13k!!

Now when I purchased this last year I had been looking for a few weeks and the average price ws around £16-£17k so I know I wasnt ripped off with £16.5k. But how is ig possible that this model has depreciated so much.. I'm in utter shock and disheartened tbh as was really hoping to get atleast £15k back as really maintained the car.

Is this common among bmws or just x1s? I was thinking of going for 1 series after this

[jessejericho]

Originally Posted by Gee_kay

Hi there

I bought an X1 f48 last year purchase price was £16,5k, maintenance in the last year has been £1.2k. Insurance £1.7k

Now looking to sell as it's been more difficult financially than I initially thought and looked at same cars with similar factors ie mileage, age model msport etc and the value is around £13k!!

Now when I purchased this last year I had been looking for a few weeks and the average price ws around £16-£17k so I know I wasnt ripped off with £16.5k. But how is ig possible that this model has depreciated so much.. I'm in utter shock and disheartened tbh as was really hoping to get atleast £15k back as really maintained the car.

Is this common among bmws or just x1s? I was thinking of going for 1 series after this

Here's an article: https://www.autotrader.ca/editorial/...-calculate-it/

You've lost around 20%, which is in line with what AutoTrader is saying. Seems about right...

[Gee_kay]

Thanks for sharing, that sounds about right then.

For comparison I checked my mums Audi A3 current value, shes had this for 2years and that's only depreciated around £500! Does depreciation rate differ across models?

[StradaRedlands]

German cars depreciate like rocks. Talk to anyone that bought a seven series or S class new.

[BMWCCA1]

The depreciation slows after the first two-years. You should have realized this before you purchased any car. Is this your first car? Suggest you hang in there and get some utility of it for the depreciation you will still encounter. If you think about it, why would someone pay you close to what you paid when they can buy a new one for not much (if any) more? I think it's more your expectations than the model you chose, though for the life of me I can't imagine why anyone would purchase a new X1 when you can have a VW Taos for so much less. They're both fairly uninspiring but one just costs less!

[Westside Guy]

If the OP thinks his X1 depreciated too much he should look at what has happened to the owners of an 8 series model. 🥵

[Honda]

I believe most cars depreciated alot in the last 10 months if not all cars.

They are back to what they used to be before covid era

[AvGeek]

Actually, I'd be overjoyed with only a -20% decrease in less than a year. The first year takes a nosedive and then continues for the next 2-3 years where it slows down slightly.

[cooolone2]

Cars are depreciable assets... Always have been! Unless you crate it, wrap it up for a few decades and then open it and sell it, lolz

[Rob_G77]

Originally Posted by Westside Guy

If the OP thinks his X1 depreciated too much he should look at what has happened to the owners of an 8 series model. 🥵

Hey, I resemble one of those people who bought an 8 series NEW.

I'm still paying the price for that...

Rob

[Westside Guy]

Originally Posted by Rob_G77

Hey, I resemble one of those people who bought an 8 series NEW.

I'm still paying the price for that...

Rob

Based on your history with BMW's we already know that you are a glutton for punishment!

[WeryPert1]

Couple of things: 1 -the used car market was kinda high for the past few years during and after the pandeminc and is in the process of 'normalizing' now I think, so your may have just had bad luck with the timing. 2- there's also an all-new X1 model out now, and I think that also affects the market for the previous gen. When your used car is still the current gen I feel like it holds more value than when it becomes the 'old' generation. Just my thoughts; not based on anything tangible.

[MADBMWX5MC]

OP you are right...In Nov23, I purchased my new to me 2023 BMW X5MC for $100K. The original owner paid $133K in May 2023....

[DocL]

I stopped buying new cars a long time ago. I now will buy a two or three year old CPO car with an extended warranty.

[M3SQRD]

You bought your car when the covid bubble was still near its peak. We’re now past the peak and now on the higher depreciation side of the covid bubble. A lot of people are upside down on their car loans where the value of the car is lower than the financed amount. It’s only going to get worse so you either sale now and minimize your loss or wait it out but your car will still be < amount financed. For BMWs to appreciate you need either a true one-of-xyz limited edition cars or a M car that’s 20+ yo and a rare spec’ed car (e.g. e92 M3 FO Lime Rock limited edition car, an e46 M3 with slick top and manually adjustable seats in exterior/interior of LSB/LSB or IR/IR with < 30k miles, etc.).

Even without covid, a 20% reduction of its price is typical but, what’s painful, is you bought the car during a massively overvalued period.

[Neusser]

Originally Posted by StradaRedlands

German cars depreciate like rocks. Talk to anyone that bought a seven series or S class new.

It depends on what and when you buy and where you live.

2-3-year old cars can be a great deal. Here in Germany, anything with a larger gas/petrol engine tends to retain value., while diesel 4-bangers tend to nosedive. I've lost about 2k on my car over several years (and put about 20,000 kms on it)

Not too bad.