PCP quote - new BMW 335d touring
Discussion
Hmm, I think it's alright but at those kind of prices for a 5 series (ie a 52k list price brought down to 47.2k cash price, total payable by customer inc GFV 47.6k on a PCP with dealer depsosit contribution) I'd at least consider a 7 series (I can't remember if you considered it in your F10M vs G30 thread Pioneer, I only recall the tech vs performance debate). Coast2Coast suggests a base 730d can be had for £51439 which is 12.6k off list price and is available with 0% finance for up to 4 years - so you wouldn't even need to lump in the maximum upfront deposit to minimise the 3.9% APR hit. The interior quality is on another level as standard compared to the cooking G30s.
Pioneer said:
Hmmm, I thought it was okay. Cost's next to nothing to finance. If I bought outright I'd be saving £600/£700.
£1 a mile assumes you hand it back after 3 years. If you have 'equity' and thus either sell on or PX it could reduce that considerably. Would you expect it to be worth more than £23k with 24k on the clock after 3 years? Ultimately however it's paid for, if it loses £24k in value over 3 years you are covering it. Seems alot for 3 years rental of a mainstream car.For comparisons sake, my current shape 5er (granted only a 520d) will have cost me 25p per mile if/when I hand it back.
Edited by rsbmw on Thursday 9th February 17:52
Fezzaman said:
Hmm, I think it's alright but at those kind of prices for a 5 series (ie a 52k list price brought down to 47.2k cash price, total payable by customer inc GFV 47.6k on a PCP with dealer depsosit contribution) I'd at least consider a 7 series (I can't remember if you considered it in your F10M vs G30 thread Pioneer, I only recall the tech vs performance debate). Coast2Coast suggests a base 730d can be had for £51439 which is 12.6k off list price and is available with 0% finance for up to 4 years - so you wouldn't even need to lump in the maximum upfront deposit to minimise the 3.9% APR hit. The interior quality is on another level as standard compared to the cooking G30s.
Yep, I originally was looking at a 7 series. I'm too indecisive and it's driving me mad! We ordered a new 320i Sport Tourer less than a year ago which went this week with 6k miles on it. The wife now has my Disco as her dd. The Lambo has been on SOR for 2 months and sold this week so now I'm car-less. I'm not going to bother with getting another supercar this summer, instead I want something that I can fit all the family in but is still a bit of fun or if not fun, comfortable and a bit more executive. I've literally just been on a test drive (less than an hour ago) in a 2014 M5 Comp Pack which I liked. I quite fancy a new G30 in which case I'd do PCP due to the low rate. If I go F10 M5 circa 2014/15 or a newer 2016 7 series it will be cash. £50k will get me into a 66 plate 730d msport xdrive from my local dealer. But then I lose loads of money in depreciation. The M5 I drove is £39k and has already done a chunk of it's money. But the tech and design on the G30 is great. Indecisive is an understatement probably. Pioneer said:
Yep, I originally was looking at a 7 series. I'm too indecisive and it's driving me mad! We ordered a new 320i Sport Tourer less than a year ago which went this week with 6k miles on it. The wife now has my Disco as her dd. The Lambo has been on SOR for 2 months and sold this week so now I'm car-less. I'm not going to bother with getting another supercar this summer, instead I want something that I can fit all the family in but is still a bit of fun or if not fun, comfortable and a bit more executive. I've literally just been on a test drive (less than an hour ago) in a 2014 M5 Comp Pack which I liked. I quite fancy a new G30 in which case I'd do PCP due to the low rate. If I go F10 M5 circa 2014/15 or a newer 2016 7 series it will be cash. £50k will get me into a 66 plate 730d msport xdrive from my local dealer. But then I lose loads of money in depreciation. The M5 I drove is £39k and has already done a chunk of it's money. But the tech and design on the G30 is great. Indecisive is an understatement probably.
Not sure about any of that 
Just remember the BMW 'jiggle' is the PCP rate versus discount on car cost. The higher the PCP rate the greater the discount on the new car cost or the more likely you get a 'lump sum' inducement (that will likely cost you more than a lower interest rate if you keep the PCP deal long term) etc You have to work hard to keep an eye on the total amount it will cost you as they do their jiggle dances...!
PCP does suck but it's marketed cleverly and appeals to a certain sector of the market, probably the majority actually. I had it on the Lambo. Half in, £700 a month and a final payment of £60K! Always on your mind when you're driving it, well it was with me. If you've got the money to buy outright and then forget about it, ownership is definitely more fun.
Pioneer said:
PCP does suck but it's marketed cleverly and appeals to a certain sector of the market, probably the majority actually. I had it on the Lambo. Half in, £700 a month and a final payment of £60K! Always on your mind when you're driving it, well it was with me. If you've got the money to buy outright and then forget about it, ownership is definitely more fun.
It gets you in a car you cant really afford end of ........as for me do I really want to hand back after 4 years with lumps bumps, over mileage, scratched alloys or do I want to re finance a 4 year old car to pay it off..no ,no and no again ,,oh and another no Hey Pioneer have to say though I salute YOUR PCP its so mad its brilliant.
Oh and I think this PCP works well a friend she bought a brand new Hyundai 110 5000 miles a year £142 a months for 4 years then a £3000 balloon which she is going to pay as it will still have a years Warranty left and only 20k on the clock.
Oh and I think this PCP works well a friend she bought a brand new Hyundai 110 5000 miles a year £142 a months for 4 years then a £3000 balloon which she is going to pay as it will still have a years Warranty left and only 20k on the clock.
Edited by smashy on Thursday 9th February 19:54
A lot of people use PCP even if they have enough to pay for the car 10 x over. Personally PCP for me only works if the depreciation is more than the monthly payment, so on a brand new 7 for example OR if you want to invest the money you save not paying up front into something that gives a return to make depreciation more bearable. I'm a landlord so on a G30 at 3.9% I would rather pay 16K deposit and use the other 30+k as a deposit on a BTL. The rental income pays the car's monthly and mortgage with maybe even a bit on top, 2 year deal, remortgage leaving 25% in, equity pays the car's balloon assuming you buy the right BTL. Plus you have an extra property with equity still in it. Assuming the market doesn't crash in which case I hand the car back or find the money elsewhere. I saved up for my first Lambo until I had most of the money ready to go. When it came to actually buying it, someone said to me why on earth would you put that much of your own money into a car!? Sat down with him and it made a lot of sense. I was bought up by parent's who preached don't buy anything on the knock, similar to a lot of their generation. Not a great ethos now especially with so much cheap money around.
Pioneer said:
A lot of people use PCP even if they have enough to pay for the car 10 x over. Personally PCP for me only works if the depreciation is more than the monthly payment, so on a brand new 7 for example OR if you want to invest the money you save not paying up front into something that gives a return to make depreciation more bearable. I'm a landlord so on a G30 at 3.9% I would rather pay 16K deposit and use the other 30+k as a deposit on a BTL. The rental income pays the car's monthly and mortgage with maybe even a bit on top, 2 year deal, remortgage leaving 25% in, equity pays the car's balloon assuming you buy the right BTL. Plus you have an extra property with equity still in it. Assuming the market doesn't crash in which case I hand the car back or find the money elsewhere. I saved up for my first Lambo until I had most of the money ready to go. When it came to actually buying it, someone said to me why on earth would you put that much of your own money into a car!? Sat down with him and it made a lot of sense. I was bought up by parent's who preached don't buy anything on the knock, similar to a lot of their generation. Not a great ethos now especially with so much cheap money around.
Sounds great in theory but as most people don't have the full purchase price then the BTL nirvana you are discibing of a free car and then some is moot but it does sound good! 
Ken Figenus said:
The only way you will get under 5% is if its inflated or subsidised elsewhere.
Try a high street bank, Lloyds do there own PCP product, GFVs are lower but interest rate is much, much better. I was going to use it to buy my 340, rate was 4.5% but GFV was about 2.5k lower over 48 months, dealer did everything in their power to dissuade me from going down this option, in the end I went with them to get the finance contribution and higher px value, have since settled as 10.9% Apr is frankly daylight robbery.I was actually very impressed with the Lloyds system, it's all online, you just put the registration number in and how much you want to borrow (I think up to 60k is the limit) and then just tinker around with the terms until your happy with the result, non of this 'I'll just go and see what the sales manager has to say' nonsense, it took about about 3 minutes to complete the application process, I did it in front of the salesman and his face was a picture when we compared overall ownership costs of 4.5% against 10.9%,
CSLchappie said:
Try a high street bank, Lloyds do there own PCP product, GFVs are lower but interest rate is much, much better. I was going to use it to buy my 340, rate was 4.5% but GFV was about 2.5k lower over 48 months, dealer did everything in their power to dissuade me from going down this option, in the end I went with them to get the finance contribution and higher px value, have since settled as 10.9% Apr is frankly daylight robbery.
I was actually very impressed with the Lloyds system, it's all online, you just put the registration number in and how much you want to borrow (I think up to 60k is the limit) and then just tinker around with the terms until your happy with the result, non of this 'I'll just go and see what the sales manager has to say' nonsense, it took about about 3 minutes to complete the application process, I did it in front of the salesman and his face was a picture when we compared overall ownership costs of 4.5% against 10.9%,
Now do I wish I'd found that earlier! 4.6% is great. However my intention is to swop my PCP to a 3% straight loan when cashflow will permit in 4 months. Do you have to be a Lloyds account holder for that though - looks like it wants your banking logon? The poor people that pay 10.9% - that is a bit stinky.I was actually very impressed with the Lloyds system, it's all online, you just put the registration number in and how much you want to borrow (I think up to 60k is the limit) and then just tinker around with the terms until your happy with the result, non of this 'I'll just go and see what the sales manager has to say' nonsense, it took about about 3 minutes to complete the application process, I did it in front of the salesman and his face was a picture when we compared overall ownership costs of 4.5% against 10.9%,
Gassing Station | BMW General | Top of Page | What's New | My Stuff