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ExAMG

It's Gone

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After much soul searching the G31 is gone.

 

We could not justify having two large cars on the drive when one of them does not do many miles.

 

From now on, I shall drive the F15 X5 as a daily and we have a 4 year old Fiesta 1.0 as a local runabout.

 

We (The wife and I) had discussed this before the pandemic but the current situation made us look quite hard how we lived. We own the F15 and the G31 was on finance so quite an easy decision in the end.

 

In two years and almost 23K miles never had a problem. Sorry to see it go but at least it shall take less time cleaning a little fiesta than the G31!

 

Now to offload the winter tyres and wheels I have in the garage.

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Sensible decision and must admit same thought crossing my mind, have hardly used mine in the last six months. 

 

 

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10 hours ago, ExAMG said:

After much soul searching the G31 is gone.

 

We could not justify having two large cars on the drive when one of them does not do many miles.

 

From now on, I shall drive the F15 X5 as a daily and we have a 4 year old Fiesta 1.0 as a local runabout.

 

We (The wife and I) had discussed this before the pandemic but the current situation made us look quite hard how we lived. We own the F15 and the G31 was on finance so quite an easy decision in the end.

 

In two years and almost 23K miles never had a problem. Sorry to see it go but at least it shall take less time cleaning a little fiesta than the G31!

 

Now to offload the winter tyres and wheels I have in the garage.

understand....what are the details on the winters please ?

 

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To be fair the current situation has me accelerating plans to buy an M2 or something stupid due to massively reduced miles too. We're a 1 car household but I had planned in the next 18 months to buy an M2 as a 2nd motor. Likely scenario now will be i'll swap the company car benefit for an allowance or similar, and then buy an M3. Or get an i4 BIK machine and then still get an M2.

 

Who knows. I used to do 30k miles a year, this year I've barely done 5k

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Yes it makes you think, my wife’s car Merc GLC 4 Matic lease ends in April so that will be replaced with a small runabout we will keep the G30 We have 8k miles a year on the Merc it’s only done 9k in 18 months 

Edited by Phill20d

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Good question on the VT. My car is upside down on the pcp at the moment so makes sense for me  to keep it, make payments and get some use from it. Cost to release at this point probably at least six months payments. When the VT point comes it will likely gone and with mileage very much down no fear of significant extra charges.

It really is a cracking car and enjoy it a lot but I think the time may have passed for it to make sense for me in a no commute low mileage world....also the time may have passed socially on big diesels. Just not sure what to replace it with but I have time. Hopefully the fully electric five not far away.

 

Will be interesting to see what happens with BMW Finance in the next couple of years...could be a rush of similar VT cars heading in with massive negative equity.

Maybe it will not matter with all of the Focuses (sorry 1 series) they are pushing out.


 

 

 

 

 

 

 

 

 


 

Edited by Black

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20 hours ago, sjak92 said:

@ExAMG did your lease come to an end or did you VT if you don’t mind saying?

Not a problem 

I had equity in the car so after visiting a couple of dealers I got a better deal from WBAC.

may be hard to believe but there you go. Finance settles and the balance in the bank.

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20 hours ago, ExAMG said:

Not a problem 

I had equity in the car so after visiting a couple of dealers I got a better deal from WBAC.

may be hard to believe but there you go. Finance settles and the balance in the bank.


fair enough, that makes sense. Thanks :)

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23 hours ago, ExAMG said:

Not a problem 

I had equity in the car so after visiting a couple of dealers I got a better deal from WBAC.

may be hard to believe but there you go. Finance settles and the balance in the bank.

Just as a matter of interest did you get WBAC to settle your finance directly ? I always thought you had to free the car of finance before they’d buy from you ?

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You ask, and get very quickly, a settlement figure from BMWFS. It has to be valid when you go to WBAC.

once you agree their purchase price, give them the letter and bingo. Done.

You get a receipt detailing what monies have gone where, sorted.

i told BMWFS what I was doing and they were OK with it

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Given your situation of having cars you can use, I’d have probably gone down the sell privately route, although it can be a right pain in the backside. As long as you’re happy with what you got then that’s all that matters. 

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I wish I had now, I traded my i8 to a BMW dealer thinking it’d make clearing the finance with BMWFS simpler but it took them nearly 2 weeks during which time I was sweating a bit and Sytners were basically ignoring me! Should be a press of a button , I do it daily !

I also got less from them than WBAC valuation ( ok they never give what the online offer is) but I still think I’m a couple of k down and loads of stress for those 2 weeks! Ah well you live and learn, I’ll be less eager next time and more chilled on the selling process. 

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3 hours ago, JDL60 said:

I also got less from them than WBAC valuation ( ok they never give what the online offer is) 

I know 3 people who have used WBAC and all have received what they were offered, I think the key is to be honest with the online appraisal.

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Damn it , I’d have gotten at least 2k more maybe 3....proper embarrassed now 

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On 15/10/2020 at 19:00, ExAMG said:

You ask, and get very quickly, a settlement figure from BMWFS. It has to be valid when you go to WBAC.

once you agree their purchase price, give them the letter and bingo. Done.

You get a receipt detailing what monies have gone where, sorted.

i told BMWFS what I was doing and they were OK with it

 

I didn't know this could be done. Were you at the 51% point on your PCP where you could VT or have you done this sooner?

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I have no idea! I know I had equity in the car and as such was not going to VT it unless it was the last option!

Chap at WBAC said he was doing 4 or 5 a day, over different manufacturers.

He liked BMW as they gave all the information in the letter!

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