First Time PCP - BMW Finance - Any Good and Gotcha's?

[msport123]

I would think so yes.

[podpod]

AWD Hardtop Coupe diesel in my opinion its trying to do too much for that money you could get 2 cars and have twice the fun..

[mikearwas]

Back out OP. You could lease a new M5 for that just over a year ago.

[bbasra]

Don't know what to do now tbh.

I'll see what Broad-speed say tomorrow. I also requested a PCP quote and will compare it with BMW finance.

[Stedman]

Maybe ask for advice before you put a deposit down next time?

[Calza]

Stedman said:

Maybe ask for advice before you put a deposit down next time?

Are you crazy?

[Swoxy]

Press Preparation. Nice.

[bbasra]

Normally I always do my research and was supposed to post this up on Sunday night to seek the advice I am now. 😔

[Welshbeef]

Swoxy said:

Press Preparation. Nice.

Well
1. Those cars will always be laiden with options a plus
2. It's warrantied.
3. No doubt it will have been driven fairly hard performance tests but apart from tyre and brake wear the engine and drive train would be totally fine.



Note for performance tests they very much put foot on the brake and also throttle up winding the torque converter up and then release. I've never done that not can see any occasion I'd want to.

Maxing out each gear - so what. Diesels sit at limiter revs for 20++ seconds for every MOT test no one drives a car bouncing on the limiter for that period of time. Diesels are very tough units and could sit at maximum revs all day every day no problem a petrol cannot. Look at locomotive derv units they drive at maximum output all the time

[mjw0321]

mikearwas said:

Back out OP. You could lease a new M5 for that just over a year ago.

I agree; my M5 is less than £650 per month with a few options. It would have been quite a bit under £600 per month if I hadn't added options, and it comes well specced as standard.

[bbasra]

Sumarising this thread so far.

I should basically back out due to the following:

Even though with the extra options, it is not great deal considering the age of car is 1.5 years

warranty expires sept 2017 on a 3 year pcp

The car could have been thrashed due to the press option and mileage but like other poster said these are made to last even with high revs.

I'll contact the dealer today and seek clarification on the press option, previous owner and enquire about getting the deposit back as I'm not happy.

Unfortunately, I haven't managed to find a better deal anywhere else and cars with this spec don't come up often which is why I went for it. 😔

[funkyrobot]

bbasra said:

Sumarising this thread so far.

I should basically back out due to the following:

Even though with the extra options, it is not great deal considering the age of car is 1.5 years

warranty expires sept 2017 on a 3 year pcp

The car could have been thrashed due to the press option and mileage but like other poster said these are made to last even with high revs.

I'll contact the dealer today and seek clarification on the press option, previous owner and enquire about getting the deposit back as I'm not happy.

Unfortunately, I haven't managed to find a better deal anywhere else and cars with this spec don't come up often which is why I went for it. ??

I can see why you would be interested. However, there will always be other examples.

It's up to you if you decide to take the advice given on here or not. However, it's good advice, so don't rush into buying something that costs a hell of a lot of money, and maybe isn't the best example.

[hornetrider]

You know you were spending 38k on a diesel convertible?

Why not get a petrol one instead and save 9 THOUSAND POUNDS?

http://www.autotrader.co.uk/classified/advert/2015...

[Welshbeef]

At the least get a personal loan quote and use that to haggle down the 7.5% - that's a huge % and part of the reason why it's so pricy.


Bizarrely in so many cases it's actually cheaper to buy a new car over an up to 3 year old car due to this reason + dealer and manufacturer contribution.

[bbasra]

Mainly because I couldn't find one the right colour and spec and then tried to configure a brand new one from a Bmw dealership which worked out more expensive per month and was for 4 years and now I've ended up where I am.

It's not going too well.

[hornetrider]

bbasra said:

Mainly because I couldn't find one the right colour and spec and then tried to configure a brand new one from a Bmw dealership which worked out more expensive per month and was for 4 years and now I've ended up where I am.

It's not going too well.

Come on then - give us a list of colours and spec. We love a bit of virtual shopping

[garylythgoe]

That's a lot of money for a diesel convertible 3/4 series...

I don't know if I could bring myself to do it on a car like that.

I know you keep repeating the 'it's not the spec I want' line for other cars, but buying a used car is mostly a 'make do' scenario, but you're paying almost new RRP money for a used car, just because of the spec. I would seriously be questioning this personal decision if I was in your shoes. I had to pick a used C63 off the market, and I had to go without an option or two I wanted, but I got the car at great money, so it worked out fine.

The idea of the petrol variant someone posted, is a great one! Good work.

Good luck with whatever you decide OP.

[j3gme]

If its the car for you and ticks ALL YOUR boxes, then just sharpen up the deal. I am sure they can do better than 7.9 apr get a couple of quotes on your finance deal plenty of lenders out there Oracle for one. Ask if they can throw a 5 year service pack in with the deal. Your a long time dead, wouldnt worry me if it has been a "press car" with under 3000 miles on it.

[Calza]

How come you're after a diesel for 10,000 miles a year?

[olliete]

OP - if you want it, buy it - your money.

Advice here is clear, there are better deals out there and that car could have been thrashed as it was Press.

Also, take the time to reflect on whether you really want a diesel convertible and whether you can get a loan at a cheaper APR. E.g. Lloyds Bank do a secure car finance proposition with 4.2% rep. APR and you can get PCP with it...