How to sell my BMW – the ultimate guide (2022)
BMW has long been one of the most desirable car brands around. Known for high-quality engineering all housed within sleek design, if you have a BMW to sell, Motorway can help!
- What is the resale value of a BMW?
- Do BMWs hold their resale value?
- How fast does a BMW depreciate?
- Where to sell my BMW?
- Can I sell my BMW online?
- Where’s the best place to sell my BMW?
What is the resale value of a BMW?
Car resale value depends on mileage and overall condition — if your BMW has been in for regular servicing and/or hasn’t been driven much, you’ll get a better price than one that has been neglected. Depending on your BMW model, you can make an informed estimate about the sort of returns you can hope for. In 2021, the resale values of BMWs placed these models at the top of the list:
|BMW 2 Series||49%|
Do BMWs hold their resale value?
BMWs are high-end vehicles and their desirability helps them keep a strong resale value compared to, say, a Smartcar. As a luxury car, though, the value of your BMW, while stronger than more affordable cars, can feel like it will take a steeper drop as it loses its new sheen. As with all cars, the second it’s no longer new, your BMW will lose a significant fraction of its value. And as with all car marques, the precise model will dictate how well it holds value — the BMW 4 series, for example, has been shown to hold its value better than the 7 Series. However, the brand overall was found to still hold 55.82% of its value after clocking up around 35,000 miles, more than fellow luxury brands Lexus and Audi.
How fast does a BMW depreciate?
BMWs aren’t immune to the general formula for car depreciation which sees cars lose around 70% of their purchase value five years after being bought new. This increases to 80% by year nine. Assuming a car has a lifespan of 20 years, that means a loss of 15% per year overall when it comes to knowing what your car is worth.
Where to sell my BMW?
There are plenty of ways to sell your car, but, naturally, we think there’s only one answer if you’re asking ‘where can I sell my BMW?’ and that’s right here, with Motorway. Before we tell you about our hassle and haggle-free way to sell your car, let’s look at some of the other options you might be considering.
Private buyers have a lot of things going for them, most notably, the possibility of a higher selling price should you find a particularly enthusiastic buyer. That said, the sheer amount of admin can quickly eat into your extra earnings. Selling privately will likely involve listing fees so you can advertise your car for sale. Then you have to deal with time wasters and lots of back-and-forth with multiple would-be buyers. And at the end of it all, you might find you’ve been scammed when your payment falls through.
Apart from the obvious inconvenience of having to drive from dealer to dealer to look for the best price (all while clocking up your mileage) dealers may not always offer the best price. This is because they’ll base their valuation on all sorts of variables such as their own stock, their understanding of the current market, the local demand, and so on. Motorway changes this so that dealers can buy your car from anywhere in the UK, and have to compete against one another for your car, so they can’t be complacent when it comes to making an offer.
An option you can always turn to if your car is well past its best and unlikely to attract a new buyer. Scrapping your car can get you some money back if you don’t think you’ll be able to sell it on. Motorway works with a scraping partner who will collect your car right from your home.
Can I sell my BMW online?
Of course! There are plenty of options for car owners looking to sell their BMW online, all able to be arranged with a few clicks. There are a few things you might want to look out for, though, including:
- Collection fees
This is when the dealer charges you to collect your car.
- Admin fees
These are usually based on your car’s valuation, so for high-end cars like BMWs you can expect them to quickly add up.
- Forced drop-off
You’ll be made to drive your car to a dealer or designated drop-off spot, costing you time, money, and energy as you have to arrange your own way home.
- Forced inspections pre-offer
Some car-buying sites will require you to drive your car to them so they can inspect it before making a valuation — this can cost time and money, as well as clocking up your mileage, and they may not make you the offer you want in the end, either.
Whatever price your car achieves, some selling sites might want to take their cut.
Where’s the best place to sell my BMW online?
Motorway, of course! We’ve created a hassle-free way to sell your car, that is, most importantly, 100% free! There’s no collection fees, no admin fees, and you don’t have to go anywhere, here’s how it works
Learn more about selling your car with our helpful guides:
How to sell a car for parts
Car scrappage schemes
Auto Trader alternatives
Selling a modified car
How to become a car dealer
How to sell a car at auction
What are the best selling used cars?