BMW and M Power Owners

LordVader · 17 Jun 2016 at 15:45

Its a £2000 discount if I take the finance offer. So it makes sence as longs I get pay the agreement off without too much hassle, don't want to be stuck at 10.9% for years when I can get far far better finance elsewhere

[TW]Fox · 17 Jun 2016 at 16:30

That's a huge discount on a used car purely because of taking finance. Sounds like most of it could have been negotiated anyway without finance. I would be looking for discounts like that anyway off the sticker price.

Havana_UK · 17 Jun 2016 at 16:38

[TW]Fox;29641461 said:
That's a huge discount on a used car purely because of taking finance. Sounds like most of it could have been negotiated anyway without finance. I would be looking for discounts like that anyway off the sticker price.

Whilst I agree, they're also milking it on the finance, so they can afford to give more away since they'll more than make it back on the deal through the finance arrangements.

[TW]Fox · 17 Jun 2016 at 16:39

Not to the tune of 2 grand though!

Havana_UK · 17 Jun 2016 at 16:42

[TW]Fox;29641509 said:
Not to the tune of 2 grand though!

It depends upon the car. On a 20K 1 series, no, but on a 55K M3, they'll make it back three-fold!

LordVader · 17 Jun 2016 at 16:44

I'm rubbish with dealers. Managed to get I think them to put the 5 year service pack on for free but that took me long enough.

435i GC,pro Nav and m sport plus package.

[TW]Fox · 17 Jun 2016 at 16:50

Havana_UK said:
It depends upon the car. On a 20K 1 series, no, but on a 55K M3, they'll make it back three-fold!

On the car sure but not purely the finance element! The commission is decent enough that you can do deals but not to that extent. They must be getting the margin from the car or something too.

Havana_UK · 17 Jun 2016 at 16:53

[TW]Fox;29641572 said:
On the car sure but not purely the finance element! The commission is decent enough that you can do deals but not to that extent. They must be getting the margin from the car or something too.

Do the math on it. If you finance a 55K car at 10.9% even with the 2K contribution (and assuming you put down a 5K deposit and you have 21K GMFV) you'lre paying nearly £9K over 4 years just in interest. Compare that to a deal at 4.9%...huge difference.

[TW]Fox · 17 Jun 2016 at 17:46

Havana_UK said:
Do the math on it. If you finance a 55K car at 10.9% even with the 2K contribution (and assuming you put down a 5K deposit and you have 21K GMFV) you'lre paying nearly £9K over 4 years just in interest. Compare that to a deal at 4.9%...huge difference.

The commission isn't the value of the interest or anywhere near that. Almost all of that goes to the lender, who carries the risk.

LordVader · 17 Jun 2016 at 18:45

wingman said:
I took out their finance and quickly settled afterwards with a Sainsburys loan of 3%, the little I had to pay in penalty charges pales into comparison with the savings overall.

BMW used Black Horse with my used BMW in April this year.

Sent you a message in trust.

Havana_UK · 17 Jun 2016 at 19:17

[TW]Fox;29641870 said:
The commission isn't the value of the interest or anywhere near that. Almost all of that goes to the lender, who carries the risk.

Yes, but it's the lender providing the deposit contribution in this case (AFAIK).

[TW]Fox · 17 Jun 2016 at 19:30

Havana_UK said:
Yes, but it's the lender providing the deposit contribution in this case (AFAIK).

I'm not talking about published deposit contributions, it's a used car so the assumption is the 2k is dealer discount off their own stock.

Havana_UK · 17 Jun 2016 at 21:08

[TW]Fox;29642405 said:
I'm not talking about published deposit contributions, it's a used car so the assumption is the 2k is dealer discount off their own stock.

I was in a dealership the other day and got the feeling that this 2k being offered at the moment is an incentive being offered, if not by the finance provider, then in close cooperation with them.

[TW]Fox · 17 Jun 2016 at 21:20

The only recent used car offer was a 750 contribution on cars under 12 months old.

wingman · 18 Jun 2016 at 12:17

It's all just creative accounting anyway.

You'll likely to get the same off without taking their finance, but it suited me at the time. I knew that they were talking bull when they were saying "But if you take the finance out, we'll give you this off", so I just negotiated with that in mind - knowing full well I'd settle shortly anyway.

If you turn round and say "Hey, I still want the car, but I've got my own money", they're not going to slap £2k back on it.

LordVader · 18 Jun 2016 at 13:15

TBH after speaking with the better half this morning and a phone call from them saying they won't chuck the service pack in think I'm going to leave it.

I got 2 months left on my lease so £400 odd notes to early terminate early.

As the missus said I've got "new toy" in my head syndrome, she's thinking level headed.

I don't really want to take the finance and bugger around with it. Never brought a car on finance if I can afford it I pay cash!

So ATM there isn't any real incentive for me to close the deal.

wingman · 18 Jun 2016 at 15:49

After giving £5 to the local Albanians..

chroniclard · 18 Jun 2016 at 20:04

Half a tank done so far in the 340i, love this engine, so eager to rev. :cool:

Did a 40 mile trip in eco pro mode and hovered around 40mpg which was nice(soon drops with any kind of traffic or acceleration).
Stop start tech is a bit keen at times.
Car is so quick, cant really imagine how fast a "proper" fast car is. :eek:

Jeci · 18 Jun 2016 at 20:05

Neighbour & I:

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There's absolutely nothing between them in terms of performance in the real world!

chroniclard · 18 Jun 2016 at 20:07

How do you get out......