Typical HP Interest Rates From BMW
Discussion
I've been quoted some prices on a pcp deal via email. I'm going into a dealers at the weekend to talk further. If I opted instead for HP over 4 years instead of a pcp deal what sort of interest rate could I expect?
The car with options is around 35k, £15k deposit inc px so about £20k to finance.
The car with options is around 35k, £15k deposit inc px so about £20k to finance.
have you checked personal leasing as an option before signing? am currently looking at new cars at present and leasing seems to be a more affordable option - less deposit and some good deals out there.
I'm working on the theory that i'll give the car back at the end of the PCP anyway so no matter which way I go I'm effectively renting the car anyway
there is a thread in General gassing on good lease deals if that is an option for you
I'm working on the theory that i'll give the car back at the end of the PCP anyway so no matter which way I go I'm effectively renting the car anyway
there is a thread in General gassing on good lease deals if that is an option for you
On a new car you should get 4.9%.
However, be careful, if you get 4.9% on a pcp and their usual 9-12% on a HP then go for the PCP.
£35k with £15 down is....
HP 12% £526 a month.
PCP at 4.9% with a £1k balloon at the end is £440 a month.
Don't go paying an extra £3200 just to avoid PCP.
However, be careful, if you get 4.9% on a pcp and their usual 9-12% on a HP then go for the PCP.
£35k with £15 down is....
HP 12% £526 a month.
PCP at 4.9% with a £1k balloon at the end is £440 a month.
Don't go paying an extra £3200 just to avoid PCP.
BMW are getting stricter about their rates at the moment, some deals on certain models, but in general their rates are not great.
I just got figures from three different dealers on X3's, borrowing roughly £23k with a £12k balloon and they were all near £400 a month, same borrowing from Lombard was a smidge over £300 a month.
I just got figures from three different dealers on X3's, borrowing roughly £23k with a £12k balloon and they were all near £400 a month, same borrowing from Lombard was a smidge over £300 a month.
gizlaroc said:
You can contract hire an M235i for £400 a month doing 10k miles a year, that is with £3000 deposit, those figures are including vat.
Do you really want to throw £15,000 at one as a deposit?
Do you have a link to that contract hire? It's cheaper than any I have seen.Do you really want to throw £15,000 at one as a deposit?
Once I've been into the dealer I'll make a spreadsheet with all the options before deciding.
Tim330 said:
Do you have a link to that contract hire? It's cheaper than any I have seen.
Once I've been into the dealer I'll make a spreadsheet with all the options before deciding.
There are shedloads at £340+vat a month on www.contracthireandleasing.comOnce I've been into the dealer I'll make a spreadsheet with all the options before deciding.
Gassing Station | BMW General | Top of Page | What's New | My Stuff