GS Residuals, another myth?

[longdog]

I have been thinking about changing my '02 R1150GS recently. The bike I fancy is £6,000 in a dealership. I would like to keep my GS as well, but really, it is unrealistic.

I got finance figures from the dealership and they undercut the loan my bank could offer. Anyway....... to keep all my options open, out of curiosity, I asked the dealership for a trade-in price for my bike........ They offered £3,500 They reckon nobody wants a GS any more!!!

My bike is in good nick, apart from the usual lower fork yolk corrosion issues and has full service history and 17,000 miles on it.

If I can sell it privately for reasonable money, I may change, otherwise, it's going to stay with me for a while longer, but maybe the days of high GS residuals are now gone?

 

[Womble]

Don't worry, The Long Way Down is starting on TV this weekend, that'll push the prices back up for a while

 

[shready]

There are loads of them around that's why the residuals are poor.

 

[Colban]

http://www.parkers.co.uk/motorbikes/used-prices/Valuation.aspx?deriv=5124&plate=68
Take a look here for a more realistic valuation.
Problem is time of year and the fact that many main BWM dealers are cutting a grand off their prices to shift used stock.
For example,£6k (down from £7k) for a non-ABS 2005 1150 GSA.
If you want a change,why not put it on here,then beat the dealer down with a cash deal.Which bike are you looking at?.
If you want to compare residuals,compare it with the Triumph Tiger and Honda Varadero.
Tiger was £250 cheaper when new but now nearly a grand cheaper than the equivalent GS.
Varadero £7450 new,£145 cheaper than Gs,now worth £2700.

 

[roddy]

residuals will decrease on the GS range since BMW have just built there 100,000 1200GS varient, this shear amount of bikes has got to have a knock on effect on residuals.

 

[Flipfly]

I have been thinking about changing my '02 R1150GS recently. The bike I fancy is £6,000 in a dealership. I would like to keep my GS as well, but really, it is unrealistic.

I got finance figures from the dealership and they undercut the loan my bank could offer. Anyway....... to keep all my options open, out of curiosity, I asked the dealership for a trade-in price for my bike........ They offered £3,500 They reckon nobody wants a GS any more!!!

My bike is in good nick, apart from the usual lower fork yolk corrosion issues and has full service history and 17,000 miles on it.

If I can sell it privately for reasonable money, I may change, otherwise, it's going to stay with me for a while longer, but maybe the days of high GS residuals are now gone?

Depends what colour it is!!!! Silver ones are always worth more because they're the fast ones

If yours is silver he's taking the p*ss. Worth at least twelvty million pounds.........or about £4300.

 

[bisbee]

The dealer is taking the p**s imo clean it take some photos and put on here

 

[Summer]

They do take the p**s on trade in as you know that they will then stick it out on the forecourt for a lot more but hey thats how they make money, its business no matter how annoying it may be its what they do. Its happened to me a couple of times now, you could haggle on the price of the bike that you want to take in part X, get them to lower the price on it which is what they have done for me in the past, they are open to negotiation as I have found. Failing that try and sell it privately first which is probably the better option, good luck

 

[Navy Boy]

I found this out when trying to Part-X my 1100S a few years back. Cheeky so-and-so at the dealer reckoned that they couldn't shift them for love nor money despite the mags starting to write them up very well and the then-new 1200GS raising the BMW profile yet further.

The Long Way Down will doubtless have an effect on GS values but even so it's worth trying to sell it yourself. Bee Emm dealers are simply a business trying to make money after all.

Good luck!

 

[Dave56]

Taking the p***

Quite clearly the dealer is taking the p***.

While I appreciate that they are in business to make money, he surely had to have been making that offer with his tongue firmly in his cheek!

I agree with others, clean it up and stick it on here, I`d also suggest trying Autotrader - on the web £12 multiple photos for 3 weeks - as a means of selling, I`ve sold 2 previous bikes using this method with no hassle, as long as you state "NO CANVERSSERS".

Just sold my `02` 1150gs - 24,000 miles FSH for £5000, so tell the dealer to shove his offer where the `sun don`t shine` and give it a go, quick while the suns still shining!

Good luck .

 

[blackbird]

Local Suzuki dealer bid me a px price of £7500 for my 07 six months old GS1200 with 3500miles on the clock against a new gsxr1000 a few days later he had a 05 same spec as my bike but with over 12,000 miles on the clock marked up for £8995

 

[Flipfly]

It suprises me how many of you are expecting dealers to give you a fair price.

A dealer is there to make as much money as possible. There is very little margin on new bike sales, so selling a secondhand bike that they have bought cheaply is probably the best way. If they offer a warantee to the new owner then obviously they have to cover the potential issues that could occur.

A much sought after 1200GS would sell quickly and net a tidy profit fairly quicky.

I've never bought from a dealer or sold from a dealer (tell a lie, I bought a Husaberg from Dave Clarke and had it for 9 months and got back what I paid, and a KTM 300exc which the dealer advertised at the wrong price so I got it very very cheap and made money on when I sold it), but I've never bought a roadbike from a dealer or sold a bike to a dealer. This way I have saved a fortune and so far, I am definately better off for using my brain and buyers intuition.

Dealers have lots of stock, staff, buildings, vehicles etc that they have to pay for. They pay for them by taking the money from YOU!!!!!!!!

 

[turnipbmw]

I always check to see what things are going for on E bay.

As you say, 1100/1150's have really dropped in the last couple of months.

I have seen a nice 5000 miles '01 1150 go for £3700.

E bay is a crap place to sell but it gives you the bottom line.

A few months back, I said I would not pay more than £6000 for any 1150GSA.
(except maybe an SE)

Several folk on here said that I will "not be owning one then"

have just bought a low mileage 05 for £6000 and I am sure I could have got one even cheaper if I had waited until xmas.

Try selling a peugeot if you want to see bad residual prices.

have just bought my mum a 207 for £12000.

Her '55 plate 206 with 3000 miles on was valued at £5000 by Palmers in St Albans in p/x.

Thats £2 a mile in depreciation alone.

(if anyone one is interested will haggle around £6000 - 1.4 verve 5 dr met. silver, a/c etc)

 

[Northants Rob]

I think the whole ...'this bike/car will not depreciate too much, Sir'... thing is bo****ks! Everything does, usually at a much faster rate than we can earn it.

I've owned a couple of Harleys o) in my time - each time, riding away in the knowledge that my loss would be miniscule.......as I said, bo****ks! Try doing a part/ex and you'll find that the bottom has fallen right out of the market

Ah well, it's only money...

 

[wassy]

I have been thinking about changing my '02 R1150GS recently. The bike I fancy is £6,000 in a dealership. I would like to keep my GS as well, but really, it is unrealistic.

I got finance figures from the dealership and they undercut the loan my bank could offer. Anyway....... to keep all my options open, out of curiosity, I asked the dealership for a trade-in price for my bike........ They offered £3,500 They reckon nobody wants a GS any more!!!

My bike is in good nick, apart from the usual lower fork yolk corrosion issues and has full service history and 17,000 miles on it.

If I can sell it privately for reasonable money, I may change, otherwise, it's going to stay with me for a while longer, but maybe the days of high GS residuals are now gone?

I think your bike is probably worth £4,000 in a private sale given the time of year etc.
I paid that much at the start of the summer for my year 2000 1150gs. The bike had only done 6k miles and really is immaculate. I would have liked it for 500 quid less but bikes in that price range were higher mileage tatty examples.
Nice clean bikes sell themselves.
All in all bikes are not a bad investment. I've just been to see an Audi A6 Avant 2.5 tdi se.1999 V,100k fsh nice car that cost £30946 new.
Thought it was a bit dear at £4k so didn't buy it !

 

[johnnystorm]

I think the advice that says look at what you could have lost elsewhere is the best.

If I give my GS away for nowt in 3 years time then I'll still have lost less than I did on my Elise over 3 years, and they are better than most cars for residuals.
With all the finance deals available it's no wonder some people go for new with warranty etc.

As long as you've enjoyed the bike while you've had it then it's not so bad imho.

 

[squid]

A sales chap from BMW explained to me why they offer so little.

In order to re-sell they have to 'buy' a package from BMW which costs a bomb.

Mind you, when I bought a Dakar new in 2002 the invoice showed the real price

I paid £5750 but the actual bike cost much less than 4k - the rest was for the BMW sales pack taxes etc.

BMW cars have just built a new show room near me - its cost millions. It all comes from somewhere.

I used to import consumer goods - for an item that cost £1 from a factory in China we had to sell for £10 to make even a tiny profit all due to the many sticky fingers in the sale chain.

 

[JohnnyOldBoy]

Sell it privately

I have sold one bike and two cars on eBay and found it easy and got what I considered good prices.

I advertised on Autotrader and Biketrader; they were a waste of time and expensive. The only enquiries I got were from other people who wanted to sell me advertising space in other publications or dealers offering silly prices over the phone.

The Salesman at NOG suggested eBay, gave me tips about describing and photographing the bike, reserve etc. It worked, was a bit of fun, and since then I have sold two cars as well.

Don’t knock the dealer, he is in business to make money. He is offering £3,500 and it is likely he will sell it on to the trade at with little or no margin.

PM me if you want some tips on selling on eBay, getting the money etc


John

 

[dacreroger]

Used Values

As a point of interest I part exchanged a 5 year old 1150GS with similar mileage to yours for £5000 against a new GSA.
Ultimately, I suppose,it is what you are buying but having only paid £7500 in the first place I didn't think it was bad.
The part exchanged bike practically flew out of the showroom so are still in demand.

 

[bakerlonglegs]

Both times I've bought a new BMW bike I had a bike to sell first. On both occasions, the dealer advised me to sell privately and openly admitted the trade-in price they could offer as a BMW dealer would be crap! I kinda admired their honesty!!