Best m5 lease rates at the moment?

[Burwood]

The current deal is about 4k more expensive than that offered back in 2013 (on 24 month deal). It's not particularly sharp if you ask me.

[Jonny TVR]

Burwood said:

The current deal is about 4k more expensive than that offered back in 2013 (on 24 month deal). It's not particularly sharp if you ask me.

Correct .. why do people just quote figures per month .. no mention of miles or other variables. The deals won't be back at the same level according to an M specialist I bought mine off. Cash buying is the way to get the deals now me thinks.

[V8V10]

Replying here to be able to get to this thread. Know its an M5 lease rate thread, but on the lookout for an m3/m4/m5 at the right price (personal deal).

[chibbard]

V8V10 said:

Replying here to be able to get to this thread. Know its an M5 lease rate thread, but on the lookout for an m3/m4/m5 at the right price (personal deal).

Me too, but I can't help thinking I'm going to have to buy one instead!!

[mikeN54]

Yep EWFS are coming down again.

I'd been watching M5 rates since 2013. They won't ever be that cheap until the end of production next spring when maybe a few silly offer will come out.

In 2013 it was silly season, I got my E63 for £450/m Inc vat for 24 months. The M5 was the same, but I wanted to try the Mercedes.

Current offer from EWFS is best since 2013. You'll get 50 quid of that with a bit of pester.

[mikeN54]

Good tip for getting a business lease without BIK. (If you are a business owner).

Go through the whole process to obtain the vehicle via your business, then just before the first payment change the direct debit account to your own personal account.

Then you are paying for the car yourself without any financial involvement from your business, (100% personal contribution) so no BIK due. Bonus.

Edited by mikeN54 on Friday 30th October 21:06

[Rob747]

Eastern have quoted me £605 pcm for Singapore/Sakhir, HK and sun blinds on 36 month personal lease.

Going by the BMW select finance site, I would need an extra £10k deposit over Eastern to get the same monthlies!

Although not as good as the 24 month deals in 2013, still seems like a lot of car for the monthly, anybody from that bunch had a quote for continuing the lease yet?

[harry76]

Hi - I'm about to sign up to the Eastern deal as I think it's a pretty good offer. Did you manage to get them to reduce their price compared to personal lease rates shown on their website? I've tried but they have said they use BMW finance and they won't budge on price ...

I don't quite understand why the M5 rates are cheaper than say M3 or M4 as having had a look at a 3 year old car they have taken quite a big hit on depreciation (although I guess it depends what discount was applied when purchased new which I suspect is going to be pretty generous)

Cheers

Harry

[harry76]

For info they've quoted me 6x35 at £639 pm incl. vat with surround view camera and M multi function front seats with 10k annual mileage

[Rob747]

The £605 was the opening offer, I haven't tried to barter at all but will give it a go.

TBH if you take a standard M5, apply 20% discount, subtract £3500 as your deposit and 35x £605 it leaves you at roughly £35000 which I think is about right value wise scanning the classifieds. You are paying for depreciation, nothing more or less.

If you can get a few extra £ your way each month all the better. Was happy to see it included RFL too, my closest BMW main dealer can't get anywhere near it at £605.

[hajaba123]

mikeN54 said:

Good tip for getting a business lease without BIK. (If you are a business owner).

Go through the whole process to obtain the vehicle via your business, then just before the first payment change the direct debit account to your own personal account.

Then you are paying for the car yourself without any financial involvement from your business, (100% personal contribution) so no BIK due. Bonus.

Edited by mikeN54 on Friday 30th October 21:06

Is that not VAT fraud?

[HoHoHo]

hajaba123 said:

mikeN54 said:

Good tip for getting a business lease without BIK. (If you are a business owner).

Go through the whole process to obtain the vehicle via your business, then just before the first payment change the direct debit account to your own personal account.

Then you are paying for the car yourself without any financial involvement from your business, (100% personal contribution) so no BIK due. Bonus.

Edited by mikeN54 on Friday 30th October 21:06

Is that not VAT fraud?

I was thinking much the same - not sure this is an option otherwise my accountants would be suggesting it and they're not!

[MW-M5]

HoHoHo said:

I was thinking much the same - not sure this is an option otherwise my accountants would be suggesting it and they're not!

Surely not, The VAT is still being paid and you wouldn't be trying to reclaim it if you were paying personally.

[12TS]

MW-M5 said:

Surely not, The VAT is still being paid and you wouldn't be trying to reclaim it if you were paying personally.

That's what I thought. It's BMW who seem to want to restrict who they want to sell to.

[ic0n]

You could also mark the payment against your director's loan account and pay it back each month.

Depends how HMRC see the agreement if you got investigated. http://www.accountingweb.co.uk/anyanswers/question...

[HoHoHo]

Perhaps worth some more thought

[5678]

ic0n said:

You could also mark the payment against your director's loan account and pay it back each month.

Depends how HMRC see the agreement if you got investigated. http://www.accountingweb.co.uk/anyanswers/question...

I think that has been tested and failed. Was deemed to still be a benefit due.

Only way is to pay it from a personal account and off the books. Nothing for hmrc to worry about as you are not claiming anything and not using company money.

[theboss]

5678 said:

I think that has been tested and failed. Was deemed to still be a benefit due.

Only way is to pay it from a personal account and off the books. Nothing for hmrc to worry about as you are not claiming anything and not using company money.

If the company is a party to the lease contract then the company is providing the vehicle to the director, no matter which bank account the charges are being taken from.

The only way to avoid BIK legitimately and certainly, is to lease personally and consider the car a personal car and claim mileage at the approved rates. You'll almost certainly get away with the aforementioned arrangement (switching direct debit / reimbursing company) on the basis that HMRC won't find out, but if they do, you're fked.

[AndrewO]

Signup for the business lease as normal with payments coming out of the business account but pay the monthly amounts into the company from your personal account first.

That was my plan B which my accountant signed off on but in the end I got the same deal on a personal so went for that. (BMW 340Msport Touring)

[Burwood]

Hey guys. This bik issue was dine to death on the main lease thread. Talk to your accountant if you have issues. This thread is not about biik . Cheers