6th month left of m5 lease
Discussion
well I`ve had the quote back for 12 month extension which expires on 31 august
I now pay £559 inc VAT, but had on contract to do 20k over 24 months. However I`ve only so far done 13,600.
To keep the car for a further 12 months they want £659 per month, but when I hand the car back can only put a further 8,000 miles on from the current mileage. (which I did request.)
I have now asked for a purchase price. But a family member will have to buy it and not me because of how contract hire works with the VAT element
I`ll wait and see!!
I now pay £559 inc VAT, but had on contract to do 20k over 24 months. However I`ve only so far done 13,600.
To keep the car for a further 12 months they want £659 per month, but when I hand the car back can only put a further 8,000 miles on from the current mileage. (which I did request.)
I have now asked for a purchase price. But a family member will have to buy it and not me because of how contract hire works with the VAT element
I`ll wait and see!!
forest172 said:
well I`ve had the quote back for 12 month extension which expires on 31 august
I now pay £559 inc VAT, but had on contract to do 20k over 24 months. However I`ve only so far done 13,600.
To keep the car for a further 12 months they want £659 per month, but when I hand the car back can only put a further 8,000 miles on from the current mileage. (which I did request.)
I have now asked for a purchase price. But a family member will have to buy it and not me because of how contract hire works with the VAT element
I`ll wait and see!!
That's quite a jump!I now pay £559 inc VAT, but had on contract to do 20k over 24 months. However I`ve only so far done 13,600.
To keep the car for a further 12 months they want £659 per month, but when I hand the car back can only put a further 8,000 miles on from the current mileage. (which I did request.)
I have now asked for a purchase price. But a family member will have to buy it and not me because of how contract hire works with the VAT element
I`ll wait and see!!
Will be interesting to see the optional purchase price
forest172 said:
HoHoHo said:
That's quite a jump!
Will be interesting to see the optional purchase price
Anybody guess at what they'll offer it at?Will be interesting to see the optional purchase price
63 reg mcb with sakhir interior and only option 20" silver wheel. With 13600 miles on
£50k?
HoHoHo said:
forest172 said:
HoHoHo said:
That's quite a jump!
Will be interesting to see the optional purchase price
Anybody guess at what they'll offer it at?Will be interesting to see the optional purchase price
63 reg mcb with sakhir interior and only option 20" silver wheel. With 13600 miles on
£50k?
You'd have thought the payments would have only been a marginal uplift from what you currently pay given the cars 3rd yr depreciation will be a lot lower than years 1 & 2.
I'd tell BMW to do one at their request the additional 8k is from current mileage rather than be handing it back with 28k. You're entitled to 20k for the 2 years so if under that you should benefit, not BMW.
I'd tell BMW to do one at their request the additional 8k is from current mileage rather than be handing it back with 28k. You're entitled to 20k for the 2 years so if under that you should benefit, not BMW.
HoHoHo said:
However he's simply extending the lease, not having a new car!
True. There are also a number of other factors that are different.New lease prices are higher now.
His mileage is lower this time.
The finance is over a shorter period this time.
Basically, BMW want £8k (£7908 to be precise) to lease a 2 year old M5 for 1 year. Seems to be in line with new pricing when you consider that a new one will cost roughly £11k p.a. for 2 years or £9k p.a. for 3 years. Also worth considering that his servicing and maintenance costs are likely to be higher in year 3.
I wonder if the £659 p.m. is negotiable?
I've had the same letter this morning. Mine is a 24 month contract with 40K miles over the term, already on 41K oops! I will be handing it back and probably buying second hand 997 gen2 Turbo, Bentley Cont SS or DBS coupe manual. Might be tempted into a new M6 gc if I can get a killer deal.
Jonny TVR said:
I've had the same letter this morning. Mine is a 24 month contract with 40K miles over the term, already on 41K oops! I will be handing it back and probably buying second hand 997 gen2 Turbo, Bentley Cont SS or DBS coupe manual. Might be tempted into a new M6 gc if I can get a killer deal.
think I`m going to hand it back. Shame we can`t swap for a while mines allowed another 6k on in the next 3 monthsHad the price. £44k if anybody wants it
Forest,
I am surprised that the 3rd year lease option is actually nearly £100pm more. I was starting to come round to taking ours on for a 3rd year, it really is a brilliant family car. Ours goes back in Jan so I wonder if the market will be flooded with cars by then, we got in on the cheap lease deals quite late so there will be plenty to hit the market before ours. If we don't get an M5 next I am a bit lost as to what the alternatives may be. The power is addictive but I also have grown to love the handling, great for what it is and will be hard to match in a family car.
I am surprised that the 3rd year lease option is actually nearly £100pm more. I was starting to come round to taking ours on for a 3rd year, it really is a brilliant family car. Ours goes back in Jan so I wonder if the market will be flooded with cars by then, we got in on the cheap lease deals quite late so there will be plenty to hit the market before ours. If we don't get an M5 next I am a bit lost as to what the alternatives may be. The power is addictive but I also have grown to love the handling, great for what it is and will be hard to match in a family car.
forest172 said:
To have had the car on a 3 year deal and 30k overall it was £10 per month cheaper initially.
So now it's 8k less over the term and £100 dearer
They must be expecting them to take a bigger hit than first thought
It's not that the depreciation which will cause it to be more expensive, it's the fact there is no manufacturing subsidy as it's a re-financed used car.So now it's 8k less over the term and £100 dearer
They must be expecting them to take a bigger hit than first thought
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