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Opinions on how long to keep car

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  • 09-01-2009 8:47pm
    #1
    DaveBH
    Closed Accounts Posts: 89 ✭✭


    Fmily member asked for my opinion on this and I'm not sure. Given the current state of the motoring industry, I'd appreciate views on when she should change her 2008 316i. Hold onto it for 2 years? Or 3? Or longer? I'm thinking 2, if she wants to retain some sort of value in it. Whenever she does change, she wants to get a 1 year-old / demo 3 series rather than new again. In a year she's only put 16000km on it.

    Any opinions? Thanks


Comments

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    #2
    TGi666
    Registered Users Posts: 451 ✭✭TGi666


    my personal view is keep a (new)car for a least 4 years and get the use out of it unless you do high milage of its giving hassle


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    #3
    alpina
    Registered Users Posts: 448 ✭✭alpina


    The way things are at the moment, at least 3...& much longer if she wants to realise any value...:)


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    #4
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    I think 3 years is the way to go. Cars gets hit big time in the first year, and by the third year this balances out with the 2nd and 3rd years depriciation. Also long as she isn't doing massive mileage, i think three years should suffice. How long is BMW warranty? 2/3 years? If it's 3, could be another reason to keep it.

    Also if she is buying a demo, i would advise the three years more. This should allow for the fact if your trading it in with 2 owners. Although, this point generally isn't hugely relevant.


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    #5
    mumblin deaf ro
    Registered Users Posts: 604 ✭✭✭mumblin deaf ro


    The car will lose about half its value in the first three years, with the heaviest hit in the first year.

    Personally I like to buy a two year old car that has been under warranty for the previous two years, and then hold on to it for two years and trade it in with its NCT done. Your mother could hold on to her car for another three years and do something similar.


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    #6
    VolvoMan
    Closed Accounts Posts: 3,309 ✭✭✭VolvoMan


    I'd say if she was selling a 316i right now she'd lose her shirt on it. The VRT changes have absolutely hammered recently registered BMW's that are based on the old system, with the exception of maybe a few models.

    The 316i is no longer sold here due to it no longer being tax efficient under the new changes. And bear in mind, you can get a brand new 318d for not much more than a year old example. So I think it would be worth waiting another year or two until values settle, especially with the way the market is at the moment.


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