Put down an M2 deposit today

[Snowyark]

So i was planning on financing through a PCP but the 10.8% APR being quoted is crazy, even with my local dealer giving me a slightly better rate. What are my other options, can i use another broker for a better rate?

Edited by Snowyark on Monday 9th November 17:32

[thatsprettyshady]

Rang back again today, salesman said he was surprised their (large) dealership had only three allocations for 2016.

I was second to put down a deposit and he assured me I will get a car but he couldn't tell me a date.

I read on other forums that the three cars per dealer are staggered to one car in April, one in August and one in December/January but I didn't push for info on this from my salesman.

Really hope I don't get an August car, the 5 month wait is already killing me but 9 months is going to be hell.

[Granfondo]

Snowyark said:

So i was planning on financing through a PCP but the 10.8% APR being quoted is crazy, even with my local dealer giving me a slightly better rate. What are my other options, can i use another broker for a better rate?

Edited by Snowyark on Monday 9th November 17:32

Personal loan @ 3.6% ? Hitachi finance I think.

[Snowyark]

Excuse my complete lack of knowledge on this but to utilize a company like Hitachi and the low interest rates i take it i wouldn't be able to do a PCP and therefore i would have to straight finance the on the road price minus any deposits / part ex?

Thanks

[DarylB90]

Snowyark said:

Excuse my complete lack of knowledge on this but to utilize a company like Hitachi and the low interest rates i take it i wouldn't be able to do a PCP and therefore i would have to straight finance the on the road price minus any deposits / part ex?

Thanks

That's right
Oracle do PCP at 6% so worth giving them a call

[Granfondo]

Snowyark said:

Excuse my complete lack of knowledge on this but to utilize a company like Hitachi and the low interest rates i take it i wouldn't be able to do a PCP and therefore i would have to straight finance the on the road price minus any deposits / part ex?

Thanks

In a word, yes!

[Snowyark]

Thanks Chaps

V tempting to get my deposit back and wait for an M3/4 - whats the chances of 0% finance next year

[DarylB90]

I think you will be waiting 3/4 years for that.
They only did it on the E90/2 because the F80/2 were coming out

[monaco1981]

spartridge said:

dbryder said:

I had an email from my dealer today.

I'm number 2 on his list and will get one of the 2 build slots they have been allocated for Feb '16 (out of 4 total for 2016), to secure that I had to increase my deposit and it becomes non-refundable.

Hope others get similar good news

/D

This is interesting. I have been informed by the dealer that build slots (and therefore estimated delivery dates) will only become clear when the order book formally opens...which may not be until January 16. Any deposits up to this point would be refundable.

My local dealer in surrey took my deposit a few weeks back and confirmed i would get a 2016 car, only to backtrack on monday and say i was 4th and they were getting 2!! So i rang round the whole world this week and managed to get the first of 2 2016 allocation for a certain dealer in the north. Very happy with this and can't wait for the car. Interestingly, none of the dealers i rang had an idea of when their cars would come in 2016 and would not know for a few months.

[nickfrog]

Snowyark said:

Thanks Chaps

V tempting to get my deposit back and wait for an M3/4 - whats the chances of 0% finance next year

Or take the M3/M4 cash discount, the BMW FS contribution by borrowing the minimum (and pay it back straight away at no fee) and source better value finance elsewhere. OK it will still not be 0% but the delta in relative depreciation compared to waiting 1-2 years may offset that, at least partially.

[Snowyark]

nickfrog said:

Or take the M3/M4 cash discount, the BMW FS contribution by borrowing the minimum (and pay it back straight away at no fee) and source better value finance elsewhere. OK it will still not be 0% but the delta in relative depreciation compared to waiting 1-2 years may offset that, at least partially.

Interesting, what is the FS contribution? Sorry i know very little about finance etc.

Halifax offer a 3.6% PCP on new cars but when i called up i was told you have to have had a bank account for a minimum of 3 months

[thatsprettyshady]

Just heard from my dealer, 2nd in line but delivery in September.

[undred orse]

Lucky you - I'm number 4 at mine now.Delivery - who knows?They say they are only getting 3 for 2016 so I suppose I may never get one.

[nickfrog]

thatsprettyshady said:

Just heard from my dealer, 2nd in line but delivery in September.

Did they say what year ? ;-)

[BenjiA]

I have just had a call confirming that I have secured a car for delivery next year....in December! Wahey.

I was told that they still do not have any decision on whether there will be any 2017 production and total build could be limited to 2,000 (I assume globally).

Despite build obviously being so far away, they need me to finalise my spec asap...something to do with optimising build schedules or something.

[DarylB90]

BenjiA said:

I have just had a call confirming that I have secured a car for delivery next year....in December! Wahey.

I was told that they still do not have any decision on whether there will be any 2017 production and total build could be limited to 2,000 (I assume globally).

Despite build obviously being so far away, they need me to finalise my spec asap...something to do with optimising build schedules or something.

2000 globally!? no chance!
There have been 500 confirmed for the UK alone for next year.

[Granfondo]

BenjiA said:

I have just had a call confirming that I have secured a car for delivery next year....in December! Wahey.

I was told that they still do not have any decision on whether there will be any 2017 production and total build could be limited to 2,000 (I assume globally).

Despite build obviously being so far away, they need me to finalise my spec asap...something to do with optimising build schedules or something.

Finalising spec so that deposit becomes non refundable?

[ruebdo]

I spec'd mine last week for March delivery!

[JNW1]

Granfondo said:

Finalising spec so that deposit becomes non refundable?

Thought you could amend specs pretty much until the car goes into build? Can't believe they'd hold you to the spec on an order placed this month for a car that won't be built for another year!

[Inverted]

Not heard a peep from my dealer. I was No. 3 to deposit. Not even one email to say when I might get one.

Lost interest will probably get my deposit back.