BMW X5 Diesel - Used or New - why so expensive do you think? + Pessimistic GFV

Bachelorplace

I have noticed that the price of the AUC BMW X5s in the UK are really still very high. 

Is this Covid related stock issue? i.e. dealers maximising on the only stock they have?
Noting the whole industry is in a weird place and hybrid sales are up ( not sure why ) and EV are up, I am a wee bit confused. 
GFV - 

BMW say in 4 years a 2020 model today will be worth average £23,000 trade

Currently today a similar 2016 model is £32,000 trade.

So either the new X5 is £9k too much or BMW think that the bottom is going to fall out of these cars in four years. Hence why they seem expensive. 

I have a chance to change now - and would be grateful of your help. I have a car that was on a service pack, soon it will need. 
1. Warranty - £1300 per year
2. Service - £700 in 6,000 miles
3. Brakes - £700 in 6-8000 miles
4. Tyres - £1000 in 6 - 8000 miles.
I could have a Model 3 but - I feel a bit pressured into it and I will be forced to PCP it due to the lack of confidence - plus Tesla basically have NO WARRANTY. 
My X5 theory was that as they are so unbelievably popular - even if we are all flying around in flying suits people will buy one off me  

Grumpy_chap

It is hard to see exactly what the OP's circumstances are.  There appears to be an option of a brand new BMW X5 Diesel or a Tesla Model 3, which are vastly different cars (not just the power-train).
And then comments about changing something now ahead of nearly £4k of bills coming up, though it is difficult to see that the £1300 warranty is logical.
Can the OP share more details about their full motoring circumstances and needs?  That will allow considered suggestions.

AdrianC

Why are values high? Supply and demand. People are happy to pay that for them.

Pessimistic balloon on a PCP? Hey-ho. Saves you interest. Yes, the monthlies are high - but you get to buy it off them for the balloon and sell it on for the actual value, so you get some of them back. Unless it isn't pessimistic.

DrEskimo

Bachelorplace said:

I have noticed that the price of the 

I could have a Model 3 but - I feel a bit pressured into it and I will be forced to PCP it due to the lack of confidence - plus Tesla basically have NO WARRANTY. 

Sorry I really don't get any of this? Of course a Tesla has a warranty?

You get a 4yr/50k mile warranty from new, and the battery and drive train are covered for 8yrs/100k miles (120k miles for the long range and performance models).

https://www.tesla.com/en_GB/support/vehicle-warranty

Why would you be forced to get it on PCP? What protection do you think it gives you?

ontheroad1970

50,000 miles!!!!  I do that in 2 years normally.  Pretty carp warranty...

Bachelorplace

Thank you for your kind posts.
If I may
1. a “limited warranty” is not anything like a ice car warranty. My experience of warranty claims is in the tens per car often.

2. I was considering a used X5 at circa 45k vs a used Model 3 at 45k. If I may, few cars are purchased on the basis of what they are 4. No X5 owner needs 4 wheel drive for example.

3. I did do a warranty post and was grateful. However my anxiety got the better of me. A BMW is highly unreliable a 740d xdrive with air suspension and laser headlights needs one serious fault.

Since owning it my warranty claims have been up to 44,000 miles

1. sunroof fault
2. wood mismatch
3. Laser light malfunction query
4. seat springs 3 times
5. creaking panels
6. dpf filter failure
7. Brake squeek
The dfp fault was 1 week before my auc expired! i wondered if it was OTA fault code to make me buy a warranty!

4. PCP is sensible on a Tesla because.

a. In the event of warranty dispute - Tesla have a financial responsibility i e. The car belongs to them. Hence more likely to fix it and more likely to avoid rejection.

b. In a pcp u have slightly more leverage in the event of a rejection for the reasons of a.

c. What person will purchase a 4 year old Tesla with 4 years left on its battery only? What is their exit strategy? There isn’t one unless the car of course cost them £15-20k in which case they can afford to buy it and hope to trade it in.

d. evs are the only reason i would consider pcp and probably will be what everyone else does. Ask a sales person at Tesla what happens at the end of a pcp on an 4/8 year old car and they will change the subject or get in a mood. Trust me I have asked and I was told 
“well we not there yet are we ha ha lets not talk about that its irrelevant”

back to my OP
Normally I buy cash and structure my own losses based on the estimate of my future sale. My 740d for instance has so far cost £365 a month - my previous 535d was £355 a month. I am fortunate to be in that position, some may disagree.

my desire for x5 was 

same level of luxury
better resale
nice experience
15 year brand background loyalty and warranty stuff.

my desire for the m3 was

cheap at 41k
At some point i have to plug in so may aswell get on with it
its unlikely anyone will beat tesla 
its quirky bit of fun 

my 740d feels old - too much road noise- older it gets the more it goes in. Expensive to run. Not much driving joy - wallows about.

DrEskimo

Bachelorplace said:

4. PCP is sensible on a Tesla because.

a. In the event of warranty dispute - Tesla have a financial responsibility i e. The car belongs to them. Hence more likely to fix it and more likely to avoid rejection.

b. In a pcp u have slightly more leverage in the event of a rejection for the reasons of a.

c. What person will purchase a 4 year old Tesla with 4 years left on its battery only? What is their exit strategy? There isn’t one unless the car of course cost them £15-20k in which case they can afford to buy it and hope to trade it in.

d. evs are the only reason i would consider pcp and probably will be what everyone else does. Ask a sales person at Tesla what happens at the end of a pcp on an 4/8 year old car and they will change the subject or get in a mood. Trust me I have asked and I was told 
“well we not there yet are we ha ha lets not talk about that its irrelevant”

I'm sorry but you are gravely misinformed.

a. Tesla do not own the car. At all. Its owned by the finance company, who in the case of PCP finance direct through Tesla is Black Horse. The process of warrant disputes is no different.

b. No you don't. It's exactly the same. Arguably it's more complicated because you have to chase the finance company as well.

c. Lots of people. Tesla used prices are holding very well. Far better than ICE equivalents. Approaching the end of a battery warranty is no more or less of an issue as approaching the end of a engine warranty on a ICE. It's sounds like you still believe that the batteries will always need replacing after the warranty? This is simply not true....

d. Most people buy EVs on PCP as they are new, and most new cars are sold with finance. I didnt. I bought my used EV outright and approaching 4yrs old it's still absolutely fine.
I don't understand what you think is so scary at the end of the finance term? It's the same as any other car. You either pay it off, trade it in/sell it, or give it back to the finance company?

gzoom

Bachelorplace said:

Thank you for your kind posts.
If I may
1. a “limited warranty” is not anything like a ice car warranty. My experience of warranty claims is in the tens per car often.

Not sure why you think the Tesla warranty is 'limited'?? or "NO WARRANTY"???
I've had multiple claims on the warranty for our Model X, each time it was no questions asked, Tesla have sent loan cars to my office, picked up my car from home, even delivered back to the house at a suitable time when things were fixed. 

My car is about to run out of the 4 year warranty, I have no wish to extended it as the last 12 months its been very reliable - the vast majority of issues I've had were related to poor PDI. If you wish you can extend the warranty to 8 years and 100K, it costs about the same as a BMW extended warranty. 
https://www.tesla.com/en_GB/support/extended-warranty 


Running costs versus a diesel X5 will be pennies though, our X including fuel + tyres + servicing is well under 5p per mile - actually about 4p at 50K miles and coming up to 4 years old. 

Resale value on Tesla's are also nuts, go and look up how much a 2016/17 Model X costs used today, I paid £71K at the end of 2016. Model 3 values have barely dropped in the last 12 months. Just don't expect to 'trade the car in' with Tesla, they have no interest in keeping used stock around as they are too busy delivering new cars, so if you want to trade in with Tesla you will get WORSE offer than WBAC. 

Grumpy_chap

The previous two posters are correct about used EV's holding their value.
I don't understand why as I would not pay a bean for a used EV because the battery will be shot and a massive great big bill looming.
There are people that will, though.  I've seen a Renault Zoe listed at a local trader £9k and not even including the battery!  Quite absurd.

Grumpy_chap

Bachelorplace said:

2. I was considering a used X5 at circa 45k vs a used Model 3 at 45k. If I may, few cars are purchased on the basis of what they are 4. No X5 owner needs 4 wheel drive for example.

With that choice, I would go for the model 3.
Chiefly because where I live, an X5 will be stolen within moments of delivery.

DrEskimo

ontheroad1970 said:

50,000 miles!!!!  I do that in 2 years normally.  Pretty carp warranty...

Yea I was thinking the same! I swear it used to be unlimited mileage, so must have changed. Proper stingy....

Ironically it's the car warranty I value most on an EV. The battery is the least of my concerns....