M135i - best discounts and finance rates?

[elliot174]

For some unknown reasons my PCP deal was rejected, but i cant not have a M135i haha!

So ive been looking around a business lease based on the new M135i LCI with the following extra options

Auto 8 Speed
Estoril Blue
Heated Seats
PDC Front & Rear
Park Assist
Harmon Kardon
Adaptive M sport Susp
Driver Comfort Pack
Enhanced Bluetooth
Media Proffesional
Heated Steering Wheel
Windscreen grey band
Sun Protection Glass
Interior Trim brushed ally/ black
Adaptive LED Headlights

the deal is either 47+3 = £425 or 47+6 = £398

Anyone know if this is a good deal?

Cheers

[Sir_Dave]

elliot174 said:

For some unknown reasons my PCP deal was rejected, but i cant not have a M135i haha!

Unless they woudnt sell you the car for some reason, it'll be rejected due to credit rating, so what makes you think you'll get a lease instead? They (obviously) still use credit scoring.

[elliot174]

Sir_Dave said:

Unless they woudnt sell you the car for some reason, it'll be rejected due to credit rating, so what makes you think you'll get a lease instead? They (obviously) still use credit scoring.

Putting it on Business Lease

Cheers

[Sir_Dave]

elliot174 said:

Putting it on Business Lease

Cheers

Fair enough, although 2 issues with that come to mind initially:

As a business lease (company car-limited company), the BIK is awful
As a business lease (company car-sole trader/partnership) they'll still check your personal credit.

[Trailhead]

Sir_Dave said:

Fair enough, although 2 issues with that come to mind initially:

As a business lease (company car-limited company), the BIK is awful
As a business lease (company car-sole trader/partnership) they'll still check your personal credit.

Only way around this would be via directors loan account treatment in a Ltd Co.

Good luck!

[Max M4X WW]

People, if I hand the car back at 19k with it needing a service in 500 miles will that be OK? What's the deal? Do the tyres have to go back with just 2mm tread?

[Sir_Dave]

Max M4X WW said:

People, if I hand the car back at 19k with it needing a service in 500 miles will that be OK? What's the deal? Do the tyres have to go back with just 2mm tread?

Not sure on the service requirements tbh, im going to give mine back a bit earlier i think, with probs 5k remaining before service.
Useful thread here: http://www.babybmw.net/forum/viewtopic.php?f=74&am...
Did you sell your fiesta btw, sure i saw it at a recent bedford trackday!

[elliot174]

Trailhead said:

Sir_Dave said:

Fair enough, although 2 issues with that come to mind initially:

As a business lease (company car-limited company), the BIK is awful
As a business lease (company car-sole trader/partnership) they'll still check your personal credit.

Only way around this would be via directors loan account treatment in a Ltd Co.

Good luck!

Hi Guys

Its a family business but I'm not on directorship as I'm one of the grandsons/sons,

The car would be put through the business (ltd company) but no BIK due as i will be contributing all but the VAT so yes it will be classed as a company car but means i will contributing the full amount there will be no chargeable BIK.

Cheers

[theboss]

elliot174 said:

Trailhead said:

Sir_Dave said:

Fair enough, although 2 issues with that come to mind initially:

As a business lease (company car-limited company), the BIK is awful
As a business lease (company car-sole trader/partnership) they'll still check your personal credit.

Only way around this would be via directors loan account treatment in a Ltd Co.

Good luck!

Hi Guys

Its a family business but I'm not on directorship as I'm one of the grandsons/sons,

The car would be put through the business (ltd company) but no BIK due as i will be contributing all but the VAT so yes it will be classed as a company car but means i will contributing the full amount there will be no chargeable BIK.

Cheers

Without wanting to derail the thread, be careful with BIK avoidance as outlined above - similar arrangements have been challenged by HMRC and they've won.

[Max M4X WW]

Sir_Dave said:

Max M4X WW said:

People, if I hand the car back at 19k with it needing a service in 500 miles will that be OK? What's the deal? Do the tyres have to go back with just 2mm tread?

Not sure on the service requirements tbh, im going to give mine back a bit earlier i think, with probs 5k remaining before service.
Useful thread here: http://www.babybmw.net/forum/viewtopic.php?f=74&am...
Did you sell your fiesta btw, sure i saw it at a recent bedford trackday!

As in had it back a few months early??

Yep Fiesta went when I got the M135i, that was the new owner

[elliot174]

theboss said:

elliot174 said:

Trailhead said:

Sir_Dave said:

Fair enough, although 2 issues with that come to mind initially:

As a business lease (company car-limited company), the BIK is awful
As a business lease (company car-sole trader/partnership) they'll still check your personal credit.

Only way around this would be via directors loan account treatment in a Ltd Co.

Good luck!

Hi Guys

Its a family business but I'm not on directorship as I'm one of the grandsons/sons,

The car would be put through the business (ltd company) but no BIK due as i will be contributing all but the VAT so yes it will be classed as a company car but means i will contributing the full amount there will be no chargeable BIK.

Cheers

Without wanting to derail the thread, be careful with BIK avoidance as outlined above - similar arrangements have been challenged by HMRC and they've won.

Surely if the BIK would amount to £180.71 a month then if I am paying £400 a month then there is no BIK?

Calculations

List Price £38725 / CO2Kgm 175 = 28%

38725 * 28% = 10843 * 20% tax = £2168.60 / 12 = £180.71 so in the instance I Wasn't paying anything I would pay £180.71 a month for tax purposes but due to paying the £400 there is nothing payable for tax purposes

[Sir_Dave]

elliot174 said:

Surely if the BIK would amount to £180.71 a month then if I am paying £400 a month then there is no BIK?

Calculations

List Price £38725 / CO2Kgm 175 = 28%

38725 * 28% = 10843 * 20% tax = £2168.60 / 12 = £180.71 so in the instance I Wasn't paying anything I would pay £180.71 a month for tax purposes but due to paying the £400 there is nothing payable for tax purposes

I'd suggest that you talk to an accountant before ordering, as i'm pretty sure you'll have to pay BIK, even if your personal contribution matches that of the lease's monthly payment. Im not a tax adviser though - perhaps post in the "finance" section on here.

[theboss]

Sir_Dave said:

elliot174 said:

Surely if the BIK would amount to £180.71 a month then if I am paying £400 a month then there is no BIK?

Calculations

List Price £38725 / CO2Kgm 175 = 28%

38725 * 28% = 10843 * 20% tax = £2168.60 / 12 = £180.71 so in the instance I Wasn't paying anything I would pay £180.71 a month for tax purposes but due to paying the £400 there is nothing payable for tax purposes

I'd suggest that you talk to an accountant before ordering, as i'm pretty sure you'll have to pay BIK, even if your personal contribution matches that of the lease's monthly payment. Im not a tax adviser though - perhaps post in the "finance" section on here.

Indeed. I'm no accountancy or legal professional either but I do have a limited company and have gone to some length to try and determine the best way of leasing a car. My understanding is that car BIK liability can't be 'cancelled out' by employee or director reimbursing the lease cost in full.

No point in re-writing what I wrote here -
http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[nickfrog]

No way around it. As a Director, Cy car doesn't make sense unless it's very low BIK.

[K&L]

Accelebrate said:

Anyone else topped up the oil yet? Mine requested a litre yesterday after 10k.

I'm considering getting it serviced early, as the way it'll fall at the moment I'll end up having it done just before it goes back.

Mine needed a litre at 7500 miles. Seems to be pretty common. Agreed that it's a pain sitting there waiting for the car to check the level though.

[DibblyDobbler]

How many miles are you guys getting out of the MPSSs? Mine look to have plenty tread left but grip is low (14k miles roughly) so wondering if new rubber would be a good idea...

[DeltaTango]

I've just gone through 16k on mine. First service due shortly so I suspect they'll need changing by then. Tread looks more than legal all round to these eyes although the rears are right on the limit (whoops ) and grip is tailing off.

I have been meaning to ask this here so thank for bringing this up. Also, how much are people paying for new tyres? Where from etc.

[K&L]

I'm nearly at 9000 miles now but the rear tyres are unlikely to make it to 10K.
I've never tracked it either.

Out of interest, my average mpg since I've had the car is 24.4 mpg. Not sure how that compares with others here.

[DeltaTango]

I'm at 28mpg average (manual), so you're clearly making better use of it than me, including the tyre use!

[Accelebrate]

Replaced one of my rears at 10k due to a puncture, the other was at an annoying in-between stage where there was about 5mm left. I don't really like having different tread levels across an axle.

I paid £160 for a single rear tyre, I think Tyre Leader are a bit cheaper if you don't need one in a rush.