Discounts on new M3/M4?
Discussion
TDK said:
With a base rate rise on the cards for late this year or early next I very much doubt it. Whilst M cars are niche compared to other BMW models, don't forget that they sell many more M3/4's than M5/6's so don't really need to subsidies them to the same extent.
I placed my order for a factory build M3 earlier this week and after a day of phoning around managed to negotiate a healthy discount. I found that 10-11% was very easy to achieve, 15% took a bit more effort (and was my minimum goal), but in the end I managed to negotiate an 18% discount, which I'm obviously very happy with!
WOW who offered that please?, thanksI placed my order for a factory build M3 earlier this week and after a day of phoning around managed to negotiate a healthy discount. I found that 10-11% was very easy to achieve, 15% took a bit more effort (and was my minimum goal), but in the end I managed to negotiate an 18% discount, which I'm obviously very happy with!
Anyone had luck getting BMW finance, after previously terminating a PCP contract at the half way point?
Seriously tempted, now the deals are getting reasonably tempting - but can't be chewed with being shown the door having previously been a naughty boy and chopping my old motor in. I was told it would affect getting credit with them again, so I'm curious if they actually enforce this.
Seriously tempted, now the deals are getting reasonably tempting - but can't be chewed with being shown the door having previously been a naughty boy and chopping my old motor in. I was told it would affect getting credit with them again, so I'm curious if they actually enforce this.
brid said:
Anyone had luck getting BMW finance, after previously terminating a PCP contract at the half way point?
Seriously tempted, now the deals are getting reasonably tempting - but can't be chewed with being shown the door having previously been a naughty boy and chopping my old motor in. I was told it would affect getting credit with them again, so I'm curious if they actually enforce this.
I have never gone to the full term on a PCP contract and has never effected my credit rating as long you settle in full.Seriously tempted, now the deals are getting reasonably tempting - but can't be chewed with being shown the door having previously been a naughty boy and chopping my old motor in. I was told it would affect getting credit with them again, so I'm curious if they actually enforce this.
I have just taken out a PCP on a new M5 with no problems and I have terminated at least 6 PCP contracts with BMW early,usually before the halve way stage.
Thepaperboy said:
I have never gone to the full term on a PCP contract and has never effected my credit rating as long you settle in full.
I have just taken out a PCP on a new M5 with no problems and I have terminated at least 6 PCP contracts with BMW early,usually before the halve way stage.
When you say settle in full, do you mean buy the car off them? Just to be clear I had PCP, made all the payments till I had settled half the finance amount (This was about 3 years into a 4 year agreement), and then triggered the 'hand back' clause whereby they picked up the car, i paid the mileage excess and that was it.I have just taken out a PCP on a new M5 with no problems and I have terminated at least 6 PCP contracts with BMW early,usually before the halve way stage.
brid said:
Thepaperboy said:
I have never gone to the full term on a PCP contract and has never effected my credit rating as long you settle in full.
I have just taken out a PCP on a new M5 with no problems and I have terminated at least 6 PCP contracts with BMW early,usually before the halve way stage.
When you say settle in full, do you mean buy the car off them? Just to be clear I had PCP, made all the payments till I had settled half the finance amount (This was about 3 years into a 4 year agreement), and then triggered the 'hand back' clause whereby they picked up the car, i paid the mileage excess and that was it.I have just taken out a PCP on a new M5 with no problems and I have terminated at least 6 PCP contracts with BMW early,usually before the halve way stage.
TDK said:
I placed my order for a factory build M3 earlier this week and after a day of phoning around managed to negotiate a healthy discount. I found that 10-11% was very easy to achieve, 15% took a bit more effort (and was my minimum goal), but in the end I managed to negotiate an 18% discount, which I'm obviously very happy with!
I appreciate that we'd be enjoying the fruits of your hard fought negotiations, but could you please let us know which dealers were offering the 15% and 18% discount because we're seriously considering using another dealership for our order at the moment.Cheers,
Grant
A number of people have emailed me regarding which dealer I used and I've replied to all with some leads.
I suspect my deal was a one-off, but it was clear to me that with enough calling around, being clear about what I was looking to achieve and what I wanted in terms of spec then there were a number of dealers prepared to negotiate at the levels that would tempt many to place an order. Anyone can do this, you've just got to be clear and prepared to put the effort in - it took me a day of phoning around and talking to various dealers, although I didn't have to spread the net very wide and didn't call anyone more than 75 miles from where I live in the South of England.
The process I used was as follows... I built my spec on the BMW website and included the reference in an email, along with details of what finance I wanted (term, annual mileage and deposit) and the level of discount I was looking to achieve ready to send to the dealer once I'd established that they were willing to negotiate over the phone. Most dealers will want you to visit them in person to discuss any deal as they can then use their sales tactics on you and exploit human nature's reluctance to walk away when you don't get the deal you want and just cave in. However, I made it very clear that I wasn't prepared to do that and the conversation would be over unless they were happy to negotiate over the phone. In the end only 2 dealers out of 14 refused to negotiate on the phone although most did protest, to a degree.
All sales people will need to run any potential deal past their manager and if they've got all the relevant details from you in an email they know you're serious and not wasting their time. You need to be realistic about what you're looking to achieve and from reading this thread already knew that others had managed 12-15% discounts on various cars, so I'd run the numbers and knew I'd be prepared to proceed with a 15% discount, but had hoped to get to 18%. The most important thing to make clear was that I was ready and willing to make a purchase there and then as soon as I'd achieved the discount I was looking for. It certainly focuses the mind of a sales person if after a minute of speaking to them for the first time you tell them you've got your credit card in your hand ready to pay a deposit if they can meet a specific number. However, you must be in a position to proceed - there's no point in phoning around asking about discounts if you're not looking to buy immediately.
At this point the ball is in the court of the dealer and they'll go away and see if they want to quote for your business. Approximately half came back and said they couldn't do a deal at the level I was looking for, which was fine and to be expected - they were all polite. Three came back with reasonable deals of 11-12% discount, but wouldn't go any further and three came back with deals from 13-15% discount. It's at this point you need to play one dealer off another and tell those left in the running what offers you've had and at what point they'd get your business. No dealer came in with a first best offer and all took a bit of pushing, but in the end I got what I was looking for and placed my order - all very clear and courteous and no one was upset or felt they'd been messed around as I had been up front about what I was doing and was clear that as soon as I someone hit my number they'd get my deposit.
I hope that helps!
I suspect my deal was a one-off, but it was clear to me that with enough calling around, being clear about what I was looking to achieve and what I wanted in terms of spec then there were a number of dealers prepared to negotiate at the levels that would tempt many to place an order. Anyone can do this, you've just got to be clear and prepared to put the effort in - it took me a day of phoning around and talking to various dealers, although I didn't have to spread the net very wide and didn't call anyone more than 75 miles from where I live in the South of England.
The process I used was as follows... I built my spec on the BMW website and included the reference in an email, along with details of what finance I wanted (term, annual mileage and deposit) and the level of discount I was looking to achieve ready to send to the dealer once I'd established that they were willing to negotiate over the phone. Most dealers will want you to visit them in person to discuss any deal as they can then use their sales tactics on you and exploit human nature's reluctance to walk away when you don't get the deal you want and just cave in. However, I made it very clear that I wasn't prepared to do that and the conversation would be over unless they were happy to negotiate over the phone. In the end only 2 dealers out of 14 refused to negotiate on the phone although most did protest, to a degree.
All sales people will need to run any potential deal past their manager and if they've got all the relevant details from you in an email they know you're serious and not wasting their time. You need to be realistic about what you're looking to achieve and from reading this thread already knew that others had managed 12-15% discounts on various cars, so I'd run the numbers and knew I'd be prepared to proceed with a 15% discount, but had hoped to get to 18%. The most important thing to make clear was that I was ready and willing to make a purchase there and then as soon as I'd achieved the discount I was looking for. It certainly focuses the mind of a sales person if after a minute of speaking to them for the first time you tell them you've got your credit card in your hand ready to pay a deposit if they can meet a specific number. However, you must be in a position to proceed - there's no point in phoning around asking about discounts if you're not looking to buy immediately.
At this point the ball is in the court of the dealer and they'll go away and see if they want to quote for your business. Approximately half came back and said they couldn't do a deal at the level I was looking for, which was fine and to be expected - they were all polite. Three came back with reasonable deals of 11-12% discount, but wouldn't go any further and three came back with deals from 13-15% discount. It's at this point you need to play one dealer off another and tell those left in the running what offers you've had and at what point they'd get your business. No dealer came in with a first best offer and all took a bit of pushing, but in the end I got what I was looking for and placed my order - all very clear and courteous and no one was upset or felt they'd been messed around as I had been up front about what I was doing and was clear that as soon as I someone hit my number they'd get my deposit.
I hope that helps!
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