BMW and M Power Owners

Indeed, I also used the BMW screenwash. Once diluted its not a millions miles off the price of the ready mixed crap anyway and 5 litres lasts a good while.
 
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If you repaid a £24k loan over 2 years at ~£1k PCM you'd then own the car after 2 years so I fail to see how this is any comparison to lease hire? Unless I've totally misread your post?

A longer term loan with lower monthly payments which you then cleared in full upon sale of the car would be the comparison I'd look to make.
 
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-Ad- said:
Finance - Nope, it's dearer and you're locked in for longer and I don't intend to get locked into the joys of finance. Even if you just hand it back you'll be paying more than the lease.
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This simply isn't true - there are some phenomenal interest rates available at the moment. If you wanted a lease type deal then a pcp would give you at worst comparable payments but you'd get something back at the end of the term.

You aren't locked in at all so long as the amount owing is less than the value of a car - try cancelling your lease and check what the amount due would be.

PCP wouldn't be my method of purchase but I'd be willing to be it still works out noticably less over the term (with less risk to yourself)
 
Don't see what the big deal is. If Ad wanted to actually own the car or keep it for longer than 3 years then of course a a PCP or Cash would be a better option.

He's chosen a car that he wants to run for no more than 2 years. What's the issue?
 
DAIR said:
Don't see what the big deal is. If Ad wanted to actually own the car or keep it for longer than 3 years then of course a a PCP or Cash would be a better option.

He's chosen a car that he wants to run for no more than 2 years. What's the issue?
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I don't think there is any big deal tbh but I just find it odd when people try to sell leasing as some sort of value for money option.

Happier to rent than buy? Fine - but it is a new car at the end of the day, it's hardly going to leave you thousands of pounds out of pocket in maintenance and interest rates in general are at rock bottom just now.
 
Ive got the same stuff in my RR & BMW, you can take it to around 1:10 and it still cleans very well. Making it pretty cheap stuff.
 
Tesla said:
If you repaid a £24k loan over 2 years at ~£1k PCM you'd then own the car after 2 years so I fail to see how this is any comparison to lease hire? Unless I've totally misread your post?

A longer term loan with lower monthly payments which you then cleared in full upon sale of the car would be the comparison I'd look to make.
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I want to own the car for 2 years, no more and certainly don't want to be tied in for 3/4, or have get bummed when suddenly wanting to hand it back after 2 years and change up to something better.

rodenal said:
This simply isn't true - there are some phenomenal interest rates available at the moment. If you wanted a lease type deal then a pcp would give you at worst comparable payments but you'd get something back at the end of the term.

You aren't locked in at all so long as the amount owing is less than the value of a car - try cancelling your lease and check what the amount due would be.

PCP wouldn't be my method of purchase but I'd be willing to be it still works out noticably less over the term (with less risk to yourself)
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Over 2years? No chance, unless there's a huge deposit and there's always the chunky final payment. It makes no sense at all vs the lease and will cos significantly more.

I know how much cancelling the lease would be, I'm not going to cancel it in the next 2yrs, so that isn't a problem at all.

DAIR said:
Don't see what the big deal is. If Ad wanted to actually own the car or keep it for longer than 3 years then of course a a PCP or Cash would be a better option.

He's chosen a car that he wants to run for no more than 2 years. What's the issue?
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SDK^ said:
Exactly - not everyone wants to :
1) Own a car.
and
2) Have £20k+ locked into an (depreciating) asset .
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2 guys with some sense and not strapped to the OcUK 'OMG must own , renting is wasted money bandwagon!'

This is soo much less hassle, is a reasonable cost, I'm not locked into finance or the BMW brand for 3-4yrs, monthly repayments are low and I'm free to invest my money elsewhere, ready to use wherever I require it.

I've looked at a deal on a Z4 on finance (same cost as a new M135i) and there's nearly a £5k deposit, £380 monthly cost for 35months, then the option of a £12k final payment. Coupled with all the hassle already discussed once owning the car, to me it's a stupid place to tie up my money for such a long period.

Anyway, after this lease I'll likely upgrade to something even better, be it an M4, M5, 911 etc, being locked into a super hot hatch, no matter how good it is, is not wise :D
 
-Ad- said:
It's the cheapest and easiest way to own one of these! More further down.



I know :)



Naturally an AUC would have tax, but would it really always be 12months?




It's the best way to fund it by a country light year, surely you see that :p



320hp :D

And yes, I'm with you. More below in answer to Fox.

I will drive it just as much as if it was my own, maybe more so :D



How else would you fund one of these for 2yrs?

Cash - I don't have £26k+ and it would a complete waste of capital even if I did!
Finance - Nope, it's dearer and you're locked in for longer and I don't intend to get locked into the joys of finance. Even if you just hand it back you'll be paying more than the lease.
Loan - So take my £1.7k deposit and grab a £24k loan (if I'd even get approved for it), which would cost over £1k in monthly payments. That's an incredible amount amount of disposable income to lose, there will be about £2k interest to pay on the loan, whereas with the lease I have, I'm still going to be investing/saving £800pcm over the next 2yrs, a far better way to utilise and increase the value of that ~£20k capital.

And with the above loan or 'owning' a car, no one can absolutely predict what the car will be worth in 2 years time, how in demand they'll be, especially with all these 2yr old lease cars flooding the market once handed back. Then there's the hassle of selling it.

With all the above taken into account, the mentality of 'OMG you should own the car and not rent it' really doesn't work out as a sensible financial option at all vs. leasing. You have worked out the figures well, but there's more to life than just headline figures and savings at the end of the 2yrs, plus with my leasing option I will probably save money vs any owning option (investing the money instead), have an extra £800pcm available should I really need it and have no risk at all when compared to having to sell it on in a few years time.

It's a no brainer really for me and still cheap in my eyes.
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I think it is cheap for people who really can afford it. If it costs £400 a month with options but you earn £4000 a month then yes, it is probably a good idea.

However if you earn £1200 a month and it costs £400 a month it is probably not such a good idea, £9600 of income gone over 2 years out of £28,800 is a large chunk of 2 years of income.
 
Not much to add apart from if I was to 'finance' a car, it would only be for 6 months (if such finance exists). Reason being I'd get bored quickly. Another reason is, you can't have anything nice these days.
 
rodenal said:
You really need to go and see it but it looks nice enough.

The convertibles are still popular, £6.5k would be fair imo but the seller may prefer to hold out for spring time
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tbh I've yet to view any type of 3 series, nothing decent in the range of 50miles from home has come up :(

Same with the Z4 actually, all the excellent ones for £6000ish are like 150+miles away, not willing to go that far.
 
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