OMSP now going up!!!

BMW318iSEAuto

E92 wrote: »

You would have to question the obsession of buying cars from the UK.

I wouldn't mind if people were bringing in something exotic or hard to find here, like say a 2.0 Focus or a D-4D 180 bhp Avensis or say a 3.2 FSI A6 or a 335d because they are as rare as hen's teeth here(the first 2 cars aren't even sold here) but the truth is that second hand values have fallen by some much here it now no longer makes sense to buy used here.

I've heard people winging about a BMW 318i and an A6 2.0 TDI 140 recently. Both of these cars are readily available here used, as they are the bottom of the range models(now that BMW finally killed the 316i for us) which Irish people are fuppin obsessed with and think are the bee's knees. Why buy from the UK when there is such good value now to be found over here and these cars are not exactly difficult to find?

Each to their own eh? If someone wants to buy from the UK it could be for a number of reasons – more choice, better value, can’t afford new over here etc. I am sure that those who do import have researched what is available here. If they had found something that matched their criteria, at the right price, then they certainly wouldn’t just go to the UK for the hell of it.

Yes, I would love an A6 3.2 FSI or a 335d but unfortunately a used 318iSE is as far as my budget stretches. Bottom of the range model it may be but I’m still very happy with it. I suppose I could look down my nose at some perceived lesser cars but it’s not my style. I will leave that to those of a more insecure nature.

peasant

BMW318iSEAuto

Please use normal font and size !

Cyrus

BMW318iSEAuto wrote: »

Each to their own eh? If someone wants to buy from the UK it could be for a number of reasons – more choice, better value, can’t afford new over here etc. I am sure that those who do import have researched what is available here. If they had found something that matched their criteria, at the right price, then they certainly wouldn’t just go to the UK for the hell of it.

Yes, I would love an A6 3.2 FSI or a 335d but unfortunately a used 318iSE is as far as my budget stretches. Bottom of the range model it may be but I’m still very happy with it. I suppose I could look down my nose at some perceived lesser cars but it’s not my style. I will leave that to those of a more insecure nature.

dont you mean you chose to spend your budget on as new a bmw as you could afford? im assuming if you bought a 07 318 you could have afforded say a 05 530d.

E92

Cyrus wrote: »

dont you mean you chose to spend your budget on as new a bmw as you could afford? im assuming if you bought a 07 318 you could have afforded say a 05 530d.

+1. The point I was going to going to make, but Cyrus beat me too it;)! I know which I'd have in a heartbeat anyway! A 530d is probably more economical too(someone I know was adamant it would do 46 mpg on a Motorway, our 1.8 Avensis wouldn't top 43 mpg and that's a smaller engine which is better on CO2 than the 318i in question), well it certainly goes like a train anyway:D!

peasant

would the gentlemen please stay on topic (OMSP), thank you

BMW318iSEAuto

Cyrus wrote: »

dont you mean you chose to spend your budget on as new a bmw as you could afford? im assuming if you bought a 07 318 you could have afforded say a 05 530d.

I suppose it's all about the individuals choice. I would certainly never dictate what car someone else should buy. I made my choice based on a number of factors, all irrelevant to the discussion.

Funny, this thread started with references to the new OMSPs. It seems to have been highjacked by those who are intent on starting a 'my car is better than yours' side show. Bit sad really.

Cyrus

BMW318iSEAuto wrote: »

I suppose it's all about the individuals choice. I would certainly never dictate what car someone else should buy. I made my choice based on a number of factors, all irrelevant to the discussion.

Funny, this thread started with references to the new OMSPs. It seems to have been highjacked by those who are intent on starting a 'my car is better than yours' side show. Bit sad really.

its not that at all, and no one is dictating anything to you, i was just pointing out that your statement that a 318se was 'all' you could afford (lucky you btw) wasnt factually correct

peasant

peasant wrote: »

would the gentlemen please stay on topic (OMSP), thank you

I'm not going to say it again !

BMW318iSEAuto

Cyrus wrote: »

as pointed out by a few others the OMSP is the VRT inclusive OMSP, so if the VRT rate changes it goes up

I think we are all aware that this is currently the case. What others seem to be questioning is, because of the fact that the OMSP includes the VRT rate changes, it is now creating unrealistic valuations for used cars. As stated before, I believe it would be fairer to have a single OMSP for a model based on new list prices (as it used to be). VRT would then be applied, on this OMSP, at a rate dependent on the CO2 levels of the car they are importing.

Cyrus

the OMSP never bore any relation to the used value of cars tho

and in the case of desirable older cars, golf gti mk1 and 2 and e30 bmws they kept putting it up to maximise the vrt take :mad:

sesswhat

Until market forces get time to settle in, do we know precisely how much a pre-2008 car is worth, and how much the value has changed from yesterday?

Nevertheless, when the Revenue come to put an OMSP figure on these cars, it should be a realistic estimate of what people would actually pay for the car, not directly affected by any change in VRT rate. How many of you would be prepared to pay more today than they would have last month, or last year, for the exact same car? If not, is there any justification for an OMSP going up?

For the Revenue, it seems to be more a case of 'What would we like it to be worth for the purposes of getting a reasonable cut out of it?'

BMW318iSEAuto

sesswhat wrote: »

Until market forces get time to settle in, do we know precisely how much a pre-2008 car is worth, and how much the value has changed from yesterday?

You are correct, we do not know precisely how much a used car is worth. However, in the case of a 318i, I think it is safe to assume that when buyers are aware that the price for a new model has come down by €5000, they are going to expect the equivalent used car values to reflect this. It would certainly be my bargaining tool if I was buying a used version here.

The revenues take on it is that the value of a 2007 model has only fallen by €1000 post July 1st. How can they justify an OMSP of €36,000 for a 2007 model when a new version could be had for just over €40,000. It is beyond illogical.

BMW318iSEAuto

BMW318iSEAuto wrote: »

Surely the new system is flawed. Shouldn't the OMSP reflect the value that you could expect to buy/sell the particular car for? OMSPs, under the new system, should be adjusted according to the corresponding RRP of new vehicles post July 1st. For example, a 2007 BMW 318iSE Auto has seen the RRP fall by over €5000 since July 1st. Second hand models should therefore also see their OMSP fall accordingly. Conversely, gas guzzlers & the like, with a high CO2 rating, will have seen their RRP increase and hence second hand values will, I presume, also increase.

This has not happened, at least in the case of the 2007 BMW 318iSE Auto. It had an OMSP of €37,116 on June 30th. Today it is shown as €36,079, a drop of only €1037. This is because the revenue have now calculated the OMSP for this model based on a VRT rate of 28% (as the car has a 190 CO2 value) and not 20% (which the new car has).

In essence, by doing this, the revenue are trying to say that even though the RRP has been reduced by over €5000, second hand values will only fall by about €1000. This is clearly wrong and, I believe, highlights that the OMSP should actually be a constant figure (adjusted for mileage and age) based on the new RRPs (as this directly affects the second hand values). It should not be based on the differing emission levels of previous versions. If anything, older cars, with higher CO2 values than their new counterparts, could diminish in value even more.

I have no problem paying the 28% VRT on a realistic OMSP. What I do object to is the revenue artificially adjusting the OMSP so that it has no relevance to realistic second hand values.

Well I am very pleased to say that, after a great deal of hassle, the OMSP for my car was reduced this morning to €28,580.

I was in email communication with the Assistant Principal at the CVO over the last few days. This started on 1st July when I first noticed the error (over inflated new OMSP). I stated that it did not represent the drop in list price of the respective new car. Unfortunately, the situation had not changed by yesterday. So, I emailed again to say that, if the figure was not updated in 24 hours, I would begin seeking legal advice against the CVO for deliberately and knowingly over inflating their OMSP values.

Lo and behold, at 8.00am this morning, the figure had been updated. In fact, it is even lower than expected which is an even better bonus. In detail:

June 30th it was €37,116. VRT @ 30% = €11,134
July 1st & 2nd it was €36,079. VRT @ 28% = €10,102
July 3rd it is €28,580. VRT @ 28% = €8,002

The saving will go nicely towards the holiday!

Cyrus

well done

unkel

You saved yourself over two grand by being persistent. Fair play to ya!