Best m5 lease rates at the moment?

[harry76]

Going back to lease rates, I've had a quick skim read through the earlier emails in this thread (back from 2013) and most of the good deals were offering lease deals which resulted in around £24k over 3 years (which is incl. VAT, mileage cap of £8k and allowing for the different permutations of the upfront payment) which I don't think is too far off the £25k being offered by Eastern Western (at 6x35 @ £620 pm with 8k mileage cap). That said, I could be wrong although I think some of the cracking deals quoted before either had a larger upfront payment or were quoted without VAT , so the deals at the moment don't seem too bad?

My CSL will be sold soon as I need 4 doors and there isn't any other car I want to buy and keep. In addition, I don't want the hassle of buying used so I've decided to go down the lease route so would be useful to hear your thoughts on this (and whether I could get a better deal than the Eastern Western one). BMW have point blank stated they cant match it....

[Rob747]

Agreed Harry, I re-read the threads and came to the same £23-4k over 3 years conclusion being inline with the best deals available in 2013 pre lci.

I'm going to order on Friday this week all being well.

[harry76]

Cool - thanks. OUt of interest, what was the quote they provided you - £605 incl. VAT plus HK seems quite cheap as I think it's £600 per month with no options (8k mileage limit)? I went for multi function seats and surround view as they do allow for some residual value so I thought they were really good value. I wanted sun protection glass but they applied hardly any residual to that option so I thought £300 for 3 years was a bit too expensive for tinted glass.

I've also asked for March 2016 delivery but I am wondering whether I should take the risk of ordering early next year but I am worried that the lease rates may not be as good. Will probably do the deal based on current rates.

[W8PMC]

harry76 said:

Going back to lease rates, I've had a quick skim read through the earlier emails in this thread (back from 2013) and most of the good deals were offering lease deals which resulted in around £24k over 3 years (which is incl. VAT, mileage cap of £8k and allowing for the different permutations of the upfront payment) which I don't think is too far off the £25k being offered by Eastern Western (at 6x35 @ £620 pm with 8k mileage cap). That said, I could be wrong although I think some of the cracking deals quoted before either had a larger upfront payment or were quoted without VAT , so the deals at the moment don't seem too bad?

My CSL will be sold soon as I need 4 doors and there isn't any other car I want to buy and keep. In addition, I don't want the hassle of buying used so I've decided to go down the lease route so would be useful to hear your thoughts on this (and whether I could get a better deal than the Eastern Western one). BMW have point blank stated they cant match it....

If the £620 is including VAT then not that far off the deals from 2013. IIRC, the best at the time were 6x35 (may have been 6x23 though) at £489+VAT with 8k mileage cap.

I opted for a lower deposit & higher mileage, 3x35 & 13k pa & i'm paying £670 per month inclusive of VAT.

[harry76]

Sorry, £620 p/m is based on 10k mileage (it's actually £600 p/m based on 8k mileage cap which works out to be £499 plus VAT so very close to the old deals it seems).

Cheers

Harry

[Rob747]

My quote is cheaper based on 8000 miles per year

£605 all in for singapore/sakhir, HK and sunblinds. Quote valid until end of Nov.

HTH

[jcosh]

Are these current deals only on 36 month contracts rather than 24 month? At £600 PM all in it's getting close to the figures I have been paying on a 2013 car but mine was a 24 month contract for 12k miles per year.

If I could get the same cost on a 24 month deal for 12k miles per annum I'd jump at it.

[harry76]

They will probably do 24 months but is typically a little bit more expensive per month

[Burwood]

it's quite a bit more for 24 months and more again for 12k miles http://www.easternwesternfleetservices.co.uk/perso...

[harry76]

Oh yeah, quite a bit more expensive. Those good 24 month lease deals back in 2013 would have looked really tasty on a 36 month basis!

[mikeN54]

The deals were reversed in 2013.

2 year deals were cheapest.

It's just how BMW UK are supporting the cars at the moment, 3 year leases suit their strategy (whatever that is).

If you want 12kpa, in excess mileage that would cost £73/m at 25p/mile excess. That might be less than they would up the lease for 12kpa.

Edited by mikeN54 on Tuesday 3rd November 11:49

[mikeN54]

harry76 said:

They will probably do 24 months but is typically a little bit more expensive per month

They'll do whatever you want - 1 year or 8 years. Colin Gourlay at EWFS quoted me +£100/m for 2 years versus 3 in July. Quite a big difference.

[mikeN54]

Rob747 said:

My quote is cheaper based on 8000 miles per year

£605 all in for singapore/sakhir, HK and sunblinds. Quote valid until end of Nov.

HTH

That's a good price, 6+35?. Is that with the de rigeur 20" wheels? Them being 2.5K can add a chunk to the payments.

[harry76]

They must be stock 19" wheels. Still good price considering 6x35 with 8k mileage is £600 incl vat without any options on their website

They won't budge on the rates shown on their website when I phoned. Getting HK and sun blinds for just £5 extra p/m sounds pretty good given both must add up to close to £1k

[harry76]

Slightly off topic , do you think it is worth getting the service pack for £1050 with a three year lease deal?

Thanks

Harry

[Rob747]

mikeN54 said:

That's a good price, 6+35?. Is that with the de rigeur 20" wheels? Them being 2.5K can add a chunk to the payments.

19" Wheels 6+35 yes.

My local dealer matched the deal exactly this morning so I'm going with them, deposit paid car should be here in January

[Rob747]

harry76 said:

Slightly off topic , do you think it is worth getting the service pack for £1050 with a three year lease deal?

Thanks

Harry

They seem to need servicing at 1200, 16000 and 30000 miles give or take.

I reckon if you're going over 30000 in 3 years then yes, it's probably worth it at main dealer rates.

interestingly, I asked my dealer to chuck in the first 2 services instead of the RFL (which I thought they'd never cover), but they came back with the RFL offer to match Eastern instead. Bonus.

[mikeN54]

RFL is always included under Contract Hire apparently, logical as you are "hiring" the car and are not the owner or keeper.

A lease, where you are the keeper, is slightly different and usually doesn't include yr2+ RFL.

[Rob747]

mikeN54 said:

RFL is always included under Contract Hire apparently, logical as you are "hiring" the car and are not the owner or keeper.

A lease, where you are the keeper, is slightly different and usually doesn't include yr2+ RFL.

Yep my mistake, just looked through the paperwork and it's a contract hire agreement so RFL included.

I mentioned to the dealer that I might want to purchase out right at the end of the term and they said they deal directly with BMW UK to secure it for you if the price is agreeable. Not bad, almost like PCP in that regard, but much cheaper.

[W8PMC]

Rob747 said:

Yep my mistake, just looked through the paperwork and it's a contract hire agreement so RFL included.

I mentioned to the dealer that I might want to purchase out right at the end of the term and they said they deal directly with BMW UK to secure it for you if the price is agreeable. Not bad, almost like PCP in that regard, but much cheaper.

You may want to check that as it's not possible for the Hirer to purchase the Hired vehicle at the end of there term. Is a loophole where it can be sold to a family member, but this isn't straight forward & you can't just buy it off the family member for £1 or anything like that. Also quite severe tax/VAT implications depending on your company structure. Lastly as a few have been coming off lease/hire recently, the price BMW UK offer the car for isn't competitive.