Finance Options?

Malt_Vinegar · 23 Nov 2011 at 21:12

Dealer is asking £22,950 for the car I am looking at.
Car is a 325d M sport Coupe with idrive and Nav in le-mans blue.
26,200 miles on a 58 plate.

They have setup a PCP deal with a 3k deposit (including my megane for 1k), and 3 years monthly payments of £451.98. GFV of 4700ish (cant remember the exact details) This includes some paint treatment thingy, and "tyre insurance" as its on 19inch run-flats.

Estimated Milage of 15k a year, and will now be getting a car allowance of £5000 before tax.

Cost of insurance/maintenance will be up to me (£880ish with business use of 15k)

Are there any other sensible ways to finance this, and is going through BMW finance a silly way? Who else should I be considering?

The other options I have is to take a 2012 318d es as a company car, but it will be povo spec with no options.. Am I being silly trying to upgrade to a nicer car, when I should just take the "sensible" option of a company car, and the benefits that it brings?

[TW]Fox · 23 Nov 2011 at 21:26

That is a ridiculous amount of money for a 325d. I bet it isn't even an MY09 model either with the decent current iDrive, is it?

I paid thousands less for exactly the same car, colour and mileage but an MY09 335i - worth more than a 325d and 6 months ago!

Maz · 23 Nov 2011 at 21:27

Malt_Vinegar said:
Dealer is asking £22,950 for the car I am looking at.
Car is a 325d M sport Coupe with idrive and Nav in le-mans blue.
26,200 miles on a 58 plate.

They have setup a PCP deal with a 3k deposit (including my megane for 1k), and 3 years monthly payments of £451.98. GFV of 4700ish (cant remember the exact details) This includes some paint treatment thingy, and "tyre insurance" as its on 19inch run-flats.

Estimated Milage of 15k a year, and will now be getting a car allowance of £5000 before tax.

Cost of insurance/maintenance will be up to me (£880ish with business use of 15k)

Are there any other sensible ways to finance this, and is going through BMW finance a silly way? Who else should I be considering?

The other options I have is to take a 2012 318d es as a company car, but it will be povo spec with no options.. Am I being silly trying to upgrade to a nicer car, when I should just take the "sensible" option of a company car, and the benefits that it brings?

That PCP sounds too good to be true, are you sure the figures are correct and the term is 3 years and not 4? Or gfv not higher?

[TW]Fox · 23 Nov 2011 at 21:29

Maz said:
That PCP sounds too good to be true

They will just be discounting the car surely given how massively overpriced the sticker price on it is? Therefore in reality it's a PCP on a £19k car which makes the numbers far more 'as expected' for a PCP.

£23k for a 3 year old 325d Coupe is ridiculous - you can order a brand new one, with leather and Pro nav, for less than £30k. And they depreciate by a tad more than just £7k in 3 years!

Malt_Vinegar · 23 Nov 2011 at 21:33

[TW]Fox;20634590 said:
They will just be discounting the car surely given how massively overpriced the sticker price on it is? Therefore in reality it's a PCP on a £19k car which makes the numbers far more 'as expected' for a PCP.

£23k for a 3 year old 325d Coupe is ridiculous - you can order a brand new one, with leather and Pro nav, for less than £30k. And they depreciate by a tad more than just £7k in 3 years!

Its BMW approved used, and there are not many coupe's at lower prices with the same sort of spec?!

How should i be arguing this deal down?

[TW]Fox · 23 Nov 2011 at 21:36

Malt_Vinegar said:
Its BMW approved used

So was mine!

If they wont move on price then move on, it's not a particularly great engine choice anyway so there is no need to be paying over the odds on one. 15k isnt huge annual mileage so I'd probably be looking for a 330i - the combined fuel consumption figure on the N53 330i (It has lean burn direct injection) is almost 40mpg anyway.

Check this out. You'd get it for a price beginning with a 15!!

http://bmw.co.uk/bmwuk/bmwauc/details/0,,1156___ask-22@adm-xx,00.html?ch=_V0JBV0U3MjA4MFBHMTUxNDU=

Why would you possibly want to spend thousands and thousands more on a diesel?

And another - thousands cheaper, 6 months newer...

http://bmw.co.uk/bmwuk/bmwauc/details/0,,1156___ask-22@adm-xx,00.html?ch=_V0JBV0U3MjAyMFBHMTUzNjY=

LiE · 23 Nov 2011 at 21:38

Listen to Fox.
How did you decide on the 23k figure? You would be better off with a lower figure from a bank.

Maz · 23 Nov 2011 at 21:38

Malt_Vinegar said:
Its BMW approved used, and there are not many coupe's at lower prices with the same sort of spec?!

How should i be arguing this deal down?

I bet a new one wouldn't be a great deal more seeing as they have a low rate offer on new ones at the minute.

You need to find out what they had discounted the price down to to calculate that PCP.

As either you've got the figures wrong or they have discounted the car to calculate the PCP and not given you the true figures.

[TW]Fox · 23 Nov 2011 at 21:41

Maz said:
I bet a new one wouldn't be a great deal more seeing as they have a low rate offer on new ones at the minute.

Also free Pro nav on new 6 cylinder Coupes at the moment.

The answer is spend a pile of cash less, £23k for a 3 year old 325 is just bonkers.

Ev0 · 23 Nov 2011 at 21:43

Malt_Vinegar said:
The other options I have is to take a 2012 318d es as a company car, but it will be povo spec with no options.. Am I being silly trying to upgrade to a nicer car, when I should just take the "sensible" option of a company car, and the benefits that it brings?

Depends how much time you'll be driving, and how much it matters to you as the 325 option seems to be a lot more of an expensive way to do it!

I took delivery today of a 6 month old 318d ES to use for a few months and from what I've used it for so far it's actually a decent enough car.

Yeah it only has the twiddly knob aircon and no nav, but it cruises really nicely and has a couple of options (cruise, heated seats, parking sensors, upgraded stereo).

It's also cheaper for me to take the short term lease through the company (minimum of 3 months though) and fuel it than it is to run the Impreza for the commuting I'll be doing.

Plus I get to try out something new for a bit

[TW]Fox · 23 Nov 2011 at 21:44

Ev0 said:
I took delivery today of a 6 month old 318d ES to use for a few months and from what I've used it for so far it's actually a decent enough car.

You can tell you've come straight out of an Impreza

The 1500 miles I spent in a 318d ES were probably the worst 1500 miles I've ever driven in a BMW. They are blooming awful things aimed squarely at those who really ought to have a Mondeo or Insignia but crave a badge

Ev0 · 23 Nov 2011 at 21:46

[TW]Fox;20634750 said:
You can tell you've come straight out of an Impreza

The 1500 miles I spent in a 318d ES were probably the worst 1500 miles I've ever driven in a BMW. They are blooming awful things aimed squarely at those who really ought to have a Mondeo or Insignia but crave a badge

From the list of cars I had to choose from this was actually the cheapest, well apart from a Mini Cooper S but that just wouldn't have been practical

Oh and a 118d SE but I fancied the 3 instead.

Could have had an F10 520d M Sport, but that was about double the cost.

And yup compared to the Impreza it's luxury

It'll serve it's purpose for the next few months nicely

Then the plan is to either keep the Impreza, or go for something German, 6 cylinders and petrol

[TW]Fox · 23 Nov 2011 at 21:50

Ev0 said:
Could have had an F10 520d M Sport, but that was about double the cost.

Worth every penny

Ev0 · 23 Nov 2011 at 21:51

Knew you'd say that

Malt_Vinegar · 23 Nov 2011 at 21:56

[TW]Fox;20634680 said:
So was mine!

If they wont move on price then move on, it's not a particularly great engine choice anyway so there is no need to be paying over the odds on one. 15k isnt huge annual mileage so I'd probably be looking for a 330i - the combined fuel consumption figure on the N53 330i (It has lean burn direct injection) is almost 40mpg anyway.

Check this out. You'd get it for a price beginning with a 15!!

http://bmw.co.uk/bmwuk/bmwauc/details/0,,1156___ask-22@adm-xx,00.html?ch=_V0JBV0U3MjA4MFBHMTUxNDU=

Why would you possibly want to spend thousands and thousands more on a diesel?

And another - thousands cheaper, 6 months newer...

http://bmw.co.uk/bmwuk/bmwauc/details/0,,1156___ask-22@adm-xx,00.html?ch=_V0JBV0U3MjAyMFBHMTUzNjY=

I actually drove the second one and loved it, but thought the fuel economy would be too low

That first one looks too good to be true?! May have to take a trip up to Yorkshire tommorrow!

The price I was looking at was the sticker price, which they said there was not much room for going lower, as it was already "keenly priced"

Once again, Fox, glad you popped into this thread, if it means i end up with a 330i rather than a 325d, then im onto a winner

[TW]Fox · 23 Nov 2011 at 21:59

Yea they told me that.

Literally 30 minutes later I paid a deposit after getting more than £2000 off the sticker price. They will always tell you that if they think you'll go for it. At the time the car WAS keenly priced - the cheapest MY09 335i by more than £5000. Still got a pile off.

That 325d is just bonkers priced. The only reason to buy a 325d is if its really cheap - because it's got the same sort of economy as a 330d but without the power. And thats not really cheap. It's not even close.

When you are spending thousands and thousands less on a better, faster car does economy really matter? That 330i is an auto so I'm not sure quite how economical it'll be but the manual 525i I drive from time to time with the same engine tops 40mpg on the Motorway without driving like Miss Daisy. The N53 is an excellent engine for economy/power ratio.

You need a decent engine in an E9x otherwise it just feels a bit... generic.

Also don't bother with the GAP insurance, the paintwork protection, etc etc. It's all overpriced rubbish designed to make them a pile of margin on the deal. If you desperately want that sort of product by it seperately for a fraction of the price.

Another top tip. BMW dealers can put a second years full warranty on it for about £400ish trade cost. Many don't even realise they can do this. They can. Even if you can't haggle it into the deal its worth paying for at this price to give you 2 years warranty because you will need it. I got 2 years into the deal with mine.

Ev0 · 23 Nov 2011 at 22:01

The silver trim in that 330 really doesn't go with the light interior at all imho, urgh.

Other one looks good, sort of thing I'd like but too tight to spend that much lol.

Malt_Vinegar · 23 Nov 2011 at 22:12

I shall call Yorkshire in the morning, and work out what sort of deal they can do me with the options you mentioned! (Especially the 2 year warranty - top tip!) Then see what I can get the 330i in guildford down to with that in mind. Should certainly be able to get myself a much nicer deal thanks to this thread

Top work!

[TW]Fox · 23 Nov 2011 at 22:14

FWIW when I took a 330d out it just left me cold. Yes it was pretty quick but it just felt like.... a tool. There was no excitement, no wow, nothing. And it went dagadagadaga at the traffic lights.

Impressive on paper I guess.

Shame you are doing 15k a year because IMHO the engine in the 335i is one of BMW's greatest ever. It's fantastic. Perhaps when 335i's fall into the hands of chavs who crash them lots I'll pull one out of a scrapper and whack it into the E39, thus creating the most awesome BMW ever. Or something.

Malt_Vinegar · 23 Nov 2011 at 23:00

[TW]Fox;20635051 said:
FWIW when I took a 330d out it just left me cold. Yes it was pretty quick but it just felt like.... a tool. There was no excitement, no wow, nothing. And it went dagadagadaga at the traffic lights.

Impressive on paper I guess.

Shame you are doing 15k a year because IMHO the engine in the 335i is one of BMW's greatest ever. It's fantastic. Perhaps when 335i's fall into the hands of chavs who crash them lots I'll pull one out of a scrapper and whack it into the E39, thus creating the most awesome BMW ever. Or something.

I would love to put that lump into an E34