Advice to potential first time new car buyer (PCP)

Rroff · 21 Feb 2019 at 13:16

grudas said:
if you go HP you pay it off, much higher monthlies but no balloon at the end and the car is yours - often cheaper to get a personal loan from the bank at low apr.

Yeah definitely worth looking at what your bank will do - some even do specialist loans for cars that can be far more competitive.

I think the biggest decision really is what you want to do in the long term - keep the car, replace the car or just walk away and treat it like a rental and then work backwards from there.

DereksDontRun · 21 Feb 2019 at 13:21

tamzzy said:
hard to say. suspect it could be a future classic. but then the one you'd want is the M140i finale, if you want to take your chances
(sauce: https://www.pistonheads.com/news/ph-germancars/bmw-m140i-finale-says-bye-to-rear-drive-six-pot/39604)
i suspect reason bmw is changing to FWD 4 pot is because most people don't care (or rather, don't even know) which wheels are being driven or what engine it has. and most of their sales are made up of PCPed 116d from ~~chavs~~ boi ricers who think they've made it in life driving a poverty spec bmw.

yeah, I'm torn about keeping my M135i tbh. various places suggest it could be a future classic - last of the rwd hot hatches, last with 6 cylinders too. But... unlike the MK2 focus RS, there's just too many on the road to be rare enough to be special... i think...

tamzzy · 21 Feb 2019 at 13:24

DereksDontRun said:
there's just too many on the road to be rare enough to be special... i think...

yeah, definitely a dime a dozen, even just looking a autotrader lol

DereksDontRun said:
various places suggest it could be a future classic

it could, if you wait 30-40 years

and you don't drive it much, and well maintained, and stored off road in a garage lol

Shadowness · 21 Feb 2019 at 13:25

Rroff said:
I think the biggest decision really is what you want to do in the long term - keep the car, replace the car or just walk away and treat it like a rental and then work backwards from there.

....and if you do just hand it back, deciding whether having spent £16k for 4 years for a nice car was worth it or not.

Shadowness · 21 Feb 2019 at 13:26

I see less 135/140is than the Gold R, they're literally everywhere. That's an obvious contender too, but they really do nothing for me. They look very dull and too ordinary to me. (some could say the same for the 140i too)

Scottland · 21 Feb 2019 at 13:29

Shadowness said:
....and if you do just hand it back, deciding whether having spent £16k for 4 years for a nice car was worth it or not.

This is the thing you need to be comfortable with, I view my car like I do my phone nowadays. It's going to cost me £x a month, and after a while I'll get a new one.

For what it's worth - I'm about halfway through my PCP on an M140, and almost at the break even point (meaning the finance owed is about what the trade in for the car is) - but I'll likely be keeping hold of it for another 12 months and will see what floats my boat then.

DereksDontRun · 21 Feb 2019 at 13:31

Shadowness said:
....and if you do just hand it back, deciding whether having spent £16k for 4 years for a nice car was worth it or not.

that's it - it doesnt matter if you "lease" with pcp and hand back, or buy the car with cash, you're still going to be out of pocket a v similar amount as the car depreciates. It's the cost of wanting a new car - something about £32 will lose about £16 in its first 4 years.

Maximum Triceratops · 21 Feb 2019 at 13:35

Not criticizing anybody who buys like this but for me personally, it would take all the pleasure out of the car knowing I was paying big chunks of cash and potentially giving it back at the end of the term, or having a large chunk to pay at the end, totally off putting. I would rather save up and buy something more affordable knowing I didn't owe thousands of pounds.

tamzzy · 21 Feb 2019 at 13:35

DereksDontRun said:
It's the cost of wanting a new car - something about £32 will lose about £16 in its first 4 years.

except that the 140i does that sooner.
for a £38k list price - can get it for sub £20k within 2 years. some are going for £17.5k at the moment!

Shadowness · 21 Feb 2019 at 13:37

^but you don't pay £38k for it though. More like 30 odd?

I have to pass a BMW dealer this afternoon and I'm tempted to pop in. Tbh I just can't be assed with all the salesman talk though. I just want to know the numbers now, and make a decision on that. Not sit down and chat for an hour.
Any advice on chatting with salesmen? and getting a good deal?

DereksDontRun · 21 Feb 2019 at 13:41

tamzzy said:
except that the 140i does that sooner.
for a £38k list price - can get it for sub £20k within 2 years. some are going for £17.5k at the moment!

but, who pays the list price? Looking at the present M140 pcp:
"BMW M140 Shadow Edition 3 door Automatic
List price £37,755 OTR
Dealer contribution £4685
BMW contribution £5235
customer balance £27,835
Customer deposit £2000 then 47 x £341.87 plus optional final payment of £12,946.76"
so, it's "only" £28k - after 2 years you could well expect high teens?

tamzzy · 21 Feb 2019 at 13:42

Shadowness said:
More like 30 odd?

10k of bmw+ dealer contribution according to TRL

DereksDontRun said:
but, who pays the list price?

mugs. you'd be surprised lol.
my colleague walked into sytner and bought a 135i for list price minus £3000 bmw contribution and £500 dealer contribution. i called him a mug. he thought it was a good deal.

tamzzy · 21 Feb 2019 at 13:45

DereksDontRun said:
so, it's "only" £28k - after 2 years you could well expect high teens?

numbers aside, that's 33% depreciation within 2 years

Shadowness · 21 Feb 2019 at 13:47

From what my colleagues are saying, I should be able to get something like £2k down (or less) with about £349 a month over 4 years. (for a good spec shadow edition)

tamzzy · 21 Feb 2019 at 13:48

Shadowness said:
From what my colleagues are saying, I should be able to get something like £2k down (or less) with about £349 a month over 4 years. (for a good spec shadow edition)

this: https://www.babybmw.net/viewtopic.php?f=80&t=109278
your colleagues are kinda telling porkies, the base shadow edition is well specced, but it starts to get pricey once you add options on, though.

Mercenary Keyboard Warrior · 21 Feb 2019 at 13:48

DereksDontRun said:
that's it - it doesnt matter if you "lease" with pcp and hand back, or buy the car with cash, you're still going to be out of pocket a v similar amount as the car depreciates. It's the cost of wanting a new car - something about £32 will lose about £16 in its first 4 years.

Thats a bit optimistic.
The AA say "
Typically the rate of depreciation slows with age
Year one
A new car loses value as soon as you drive off the forecourt and by the end of the first year will have lost around 40% of its value. This varies a lot though and the best may lose as little as 10%.

Year three
If you do 10,000 miles a year, the average car will have lost around 60% of its value by the end of its third year."
I think thats probably a little pessimistic, but I cant think of many (well any) normal cars only losing 50% over 4 years.

Carfleet who I find very accurate
say on 10k annual on the cheapest M140i variant 3 years 30k mile £15075 res, 4 years 40k miles 12.8k res, against the list £35.4k Say you can get for £32k thats 3year @47% residual, 4 years 40% residual.

Scottland · 21 Feb 2019 at 13:49

Coast2Coast are doing the M140 SE Auto for under £28k at the moment:
https://www.coast2coastcars.co.uk/car-quote/

Cost wise, the GVF will be about £14k (this is fixed from BMW, so google around to find a baseline for it) Some options will add to the GFV, the link in the post above details them. Then you can plug in your figures here:
www.pcpcal.co.uk

Shadowness · 21 Feb 2019 at 13:53

tamzzy said:
this: https://www.babybmw.net/viewtopic.php?f=80&t=109278
your colleagues are kinda telling porkies, the base shadow edition is well specced, but it starts to get pricey once you add options on, though.

But I assume you can't just walk into a BMW dealer and say match or better that?

Or a side note - are there any really recommended options you would add to a shadow, or keep it at that?

tamzzy · 21 Feb 2019 at 13:55

Shadowness said:
But I assume you can't just walk into a BMW dealer and say match or better that?

i guess you could, but i doubt they will. as TRL doesn't work on-site, so i guess he gets better deals

BMW M140 Shadow Edition 5 door Automatic
List Price £37,125 OTR
Dealer contribution £4755
BMW contribution £5235
Customer balance £27,765
Customer deposit £2000 then 47 x £345.36 plus optional final payment of £13,310.75.
Or low deposit scheme of £383 then 47 x £383.16 plus optional final payment of £13,310.75

(All of the above based on 8000 miles PA and 4.9% APR). Terms and conditions apply. Subject to status and acceptance.)

Here are a list of the current FACTORY COST OPTIONS and the monthly payment to add to the above base price
all figures included dealers contribution and based on a 4 year PCP.

Options List; (I've trimmed it down to the options I'd get - others may have differing opinions)

Metallic Paint.................. +£11.35 pm (GFV inc £0)
Heated Steering Wheel........+£3.25 pm (GFV inc £0)
Adaptive M Suspension........+£7.88 pm (GFV inc £132)
Reverse Assist Camera........+£4.13 pm (GFV inc £132)
Ext Electric Folding Mirrors...+£2.75 pm (GFV inc £0)
Electric Memory Seats........+£13.16pm (GFV inc £0)
Heated Front Seats...........+£3.83 pm (GFV inc £132)
Split Fold Rear Seat...........+£3.25 pm (GFV inc £0)
Headlight Washers.............+£3.61 pm (GFV inc £0)
Adaptive LED Headlights.....+£4.92 pm (GFV inc £264)
Front PDC ......................+£3.43 pm (GFV inc £132)
Professional Media Pack.......+£13.14 PM (GFV inc £132)

these options would be what i'd be looking at. that's an extra £74.70 p/m

so that's £2k down, £420 p/m x 47

Shadowness · 21 Feb 2019 at 13:57

From that list, the only options that would interest me are.....

Metallic paint
Adaptive LED lights
M suspension maybe
pro media pack (although not 100% what all that includes)