[Animalfreeride]

I thought the day would never come, but I am sad to say that the 335i will definately be the last performance car I will ever have

I am in fact contemplating purchasing a used VW Transporter (for my windsurfing gear & camping) and a ultra economical VW Golf for day to day driving (I currently use a Peugeot Expert for my windsuring gear and day to day driving).

The soaring price of fuel, increased insurance premiums, extortionate BMW servicing costs and the general cost of living has prompted my decision.

However, that being said, the 335i hasn't gone just yet In fact I may need to hang on to the vehicle until I have reduced the finance to a level where I am happy with a PX price.

I reckon I owe around £14 on a fully loaded and immaculately presented 57 plate 335i MSport Coupe (auto with Sat Nav) which has covered 24k miles.

The trouble is the vehicle is on BMW finance, so if I try to sell privately, prospective purchasers get a bit "twitchty".

Most non BMW dealers (i.e. VW) wouldn't stock such a car therefore have to source another dealer and give a crap PX price.

The last option I guess is to ask a BMW dealer if they are interested in purchasing the car?

I have PX'd financed vehicles before using trade dealers who have settled the outstanding finance without any issues, but these have not been vehicles anywhere near of the same calibre.

Any suggestions or ideas appreciated (apart from don't sell the 335! LOL)

[MPTREE]

Mmm ....what a dilemma .....here's a solution....swap it with my 335d m sport touring...plenty of space for your surfing/camping & more economical than a transporter !....job done ! Seriously though...I m in the market to change...pm me if interested

[I6Touring]

Yup, I can fit 2 boards, 4 sails and couple of booms and masts in an E91, with no side or rear visibility issues.

Great thing is that if the wind is crap a good drive may save the trip: there's a lovely series of bends on our coast road. Downsides are you can't change inside it like a van, and the limited ground clearance may deny access to some beach car park spots.

[wayne71]

Thing is mate the running cost of two vehicles must surely mean you can afford one good all rounder, like a 335d touring or even a 5'er touring.

Unless you're genuinely bored of having a performance car I reckon you'll really miss it.

[Fox530]

Thats a very low mileage car. Given you cant exactly cover 20k a year in it right now is the cost of petrol really that big a deal?

[pjs]

If your credit is good, clear the £14£ with a credit card balance transfer then you can sell privately hpi clear, settle the card afterwards

[wza]

Originally Posted by pjs

If your credit is good, clear the £14£ with a credit card balance transfer then you can sell privately hpi clear, settle the card afterwards

I agree with this, if you can, get a credit card or unsecured personal loan, pay off finance, you are in a much better position. I personally always discount a tied finance deal for this reason.

[NFS]

This makes no sense. There is absolutely no problem selling a car that has outstanding finance.

Just pay it off as part of the sale.

[ddogg35]

if it make you feel any better the transporter is quite nice for a van, i mean its not a bmw but if still aint half bad

[Dr G13]

Just keep the one good car rather than two. I have a 335i along with a golf tdi, makes me appriciate the bmw more but thinking if I sell the golf M3 here I come.

[JoeyFiasco]

just curious, what's the interest on the car loan. what interest are you expecting if you switch it to a credit car?

[toxicnerve]

Originally Posted by JoeyFiasco

just curious, what's the interest on the car loan. what interest are you expecting if you switch it to a credit car?

One assumes 0% on balance transfer for 6months at least....

[wza]

Originally Posted by toxicnerve

One assumes 0% on balance transfer for 6months at least....

surely be tough to get a 14k credit card limit, normally only £2-3k limits at first?? most charge 2-3% balance transfer fee aswell, so £280 to £420 to transfer.

[wza]

Originally Posted by NFS

This makes no sense. There is absolutely no problem selling a car that has outstanding finance.

Just pay it off as part of the sale.

If you buy a private car and it has finance on it, how do you know that when you hand over your money, that this will be used to pay of the loan? You have someones word. What if they didn't pay it of and then defaulted, your car would be taken. The only way you would know 100% is if when you buy the car, you pay the money directly to the finance company. Its a lot of bother for many and puts lots of buyers off immediately. Agreed, for the right car, it is not a deal breaker, but feel easier to market a car without finance on it when you are selling it.

[toxicnerve]

wza speaks the truth. Outstanding finance (which will show up on an HPI check) puts a lot of private buyers off from the get go.

[NFS]

Originally Posted by wza

If you buy a private car and it has finance on it, how do you know that when you hand over your money, that this will be used to pay of the loan? You have someones word. What if they didn't pay it of and then defaulted, your car would be taken. The only way you would know 100% is if when you buy the car, you pay the money directly to the finance company. Its a lot of bother for many and puts lots of buyers off immediately. Agreed, for the right car, it is not a deal breaker, but feel easier to market a car without finance on it when you are selling it.

1. Buyer goes to the bank with the seller.

2. Buyer makes 2 payments. One to the Finance company and one to the seller.

3. Buyer leaves bank with the keys and V5

Simple.

[wza]

Originally Posted by NFS

1. Buyer goes to the bank with the seller.

2. Buyer makes 2 payments. One to the Finance company and one to the seller.

3. Buyer leaves bank with the keys and V5

Simple.

If only it was that simple. The finance company is unlikely to be a bank. To send a payment to the finance company, you would need to be send via BACS using a sort code and account number. As a buyer, I would want confirmation from the finance company of the details to send the money too, plus I would want confirmation of the amount owed. They would only give those details to the holder of the finance due to data protection act. So you would need to be with the Seller as he makes a call, gives them permission to speak to the Buyer. Once payment sent, I would want the confirmation from the finance company that they had received the payment. BACS takes 3 working days, and I bet they finance company would take a few days to administer and close the finance agreement. Again, they would not tell the Buyer that payment received and the finance agreement closed over the phone, they could only confirm it to the Seller being the account holder, so you would need to be with the Seller as he called, gave them permission to speak to the Buyer.

I do agree with you to some degree, and as I said, it isn't a deal breaker, and agree that it can be done, but, it is a lot of hastle, especially if large distances between buyer and seller, and in my opinion, this puts off alot of buyers is all.

[xxp0loxx]

Originally Posted by NFS

1. Buyer goes to the bank with the seller.

2. Buyer makes 2 payments. One to the Finance company and one to the seller.

3. Buyer leaves bank with the keys and V5

Simple.

This is what i did.

[335i E92]

Gutted for you mate...

Can't help thinkin you'll live to regret the change, I know I'de miss that smile this engine serves up daily!!

As for the finance I was an Audi salesman for 5 years, sorry to curse on hear.

I've seen a few ways of solving this, easyiest and most common is to raise a bankers draft made out to the finance company for the full settlment and either drop it in a post box in front of the buyer or both go to a post office and hand it over the counter.

Bankers draft can't be canceled and is gauranteed to clear. Done, simple!!

H

[kaishang]

I bought a bike privately with finance on it. Just paid direct to finance company over phone with me and seller in the same room at same time. No problem at all.

It's the named driver on insurance for test drives which is the difficult part.

[xenon]

Originally Posted by wza

If only it was that simple. The finance company is unlikely to be a bank. To send a payment to the finance company, you would need to be send via BACS using a sort code and account number. As a buyer, I would want confirmation from the finance company of the details to send the money too, plus I would want confirmation of the amount owed. They would only give those details to the holder of the finance due to data protection act. So you would need to be with the Seller as he makes a call, gives them permission to speak to the Buyer. Once payment sent, I would want the confirmation from the finance company that they had received the payment. BACS takes 3 working days, and I bet they finance company would take a few days to administer and close the finance agreement. Again, they would not tell the Buyer that payment received and the finance agreement closed over the phone, they could only confirm it to the Seller being the account holder, so you would need to be with the Seller as he called, gave them permission to speak to the Buyer.

I do agree with you to some degree, and as I said, it isn't a deal breaker, and agree that it can be done, but, it is a lot of hastle, especially if large distances between buyer and seller, and in my opinion, this puts off alot of buyers is all.

Do a CHAPS transfer - takes 15 minutes.

[creepy coupe]

Originally Posted by xenon

Do a CHAPS transfer - takes 15 minutes.

Yep. It's the only way I'll accept payment when selling cars these days.

Take your passport with you.