6th month left of m5 lease
Discussion
Had a letter today from BMW giving me a few options. Obviously hand the car back. Can buy it or 60 days before hand back extend it for another year. Which I'd probably like to do
But 60 days doesn't give me many alternatives if they refuse to extend the lease. Do the payments tend to be the same? I remember when getting quotes 3 year lease was cheaper than 2 by about £20
But 60 days doesn't give me many alternatives if they refuse to extend the lease. Do the payments tend to be the same? I remember when getting quotes 3 year lease was cheaper than 2 by about £20
Edited by forest172 on Sunday 15th March 09:45
Its contract hire. An option is in the letter for a friend or family member to purchase. Not me.
As of 31st august it will probably only be on 16k when I had it contracted for a total on 20k. If I can keep it for another year I'll only want a total of probably 4k more than the original 2 year contract.
If I get another m car, I'll have to stump up a deposit, when just rolling the contract on for another 12 months would be the best thing to do. But not knowing before the 60 days wont probably give me enough lead time to order another factory build
As of 31st august it will probably only be on 16k when I had it contracted for a total on 20k. If I can keep it for another year I'll only want a total of probably 4k more than the original 2 year contract.
If I get another m car, I'll have to stump up a deposit, when just rolling the contract on for another 12 months would be the best thing to do. But not knowing before the 60 days wont probably give me enough lead time to order another factory build
W8PMC said:
Audi are now finally subsidising the C7 RS6 with a £6k deposit contribution & about £8-9k available by negotiation so discounts of 15% which is about the same as the F10 M5. This is of course on a base spec car but like the M5 they come well kitted as standard.
They've also been loading the GFV over the last few weeks so deals on CH & PCP are also available.
what we talking on a contract hire profile? i fancy oneThey've also been loading the GFV over the last few weeks so deals on CH & PCP are also available.
playNskillz said:
What is the benefits of leasing a new M5 vs buying one 6-12 months old?
If I was to buy say a 64 plate or a 14 plate and I do say 10k a year how much depreciation can I expect? Would it be more cost effective buying it outright or leasing?
well the deal I had was £559 per month inc VAT with 20" wheels and 10,000 miles per year. i decided to put £6000 down to reduce payments. Over the term it will cost me £18857.00 (crikey)If I was to buy say a 64 plate or a 14 plate and I do say 10k a year how much depreciation can I expect? Would it be more cost effective buying it outright or leasing?
however after 2 years a base spec like mine (only 20" wheels as options) in monte carlo blue with sakhir interior(which I love but a dealer probably won`t) will probably be worth about £35,000 trade.(maybe less when the markets flooded with more desirable ones.). i really wouldn`t like to try and shift it on. So with a list of £73,000, it`s a £38,000 loss. However BMW invoiced BMW finance for £59,000 for the car (i have a copy), so in reality a £24,000 loss off price paid. Which ain`t my problem
Edited by forest172 on Friday 27th March 16:43
Edited by forest172 on Friday 27th March 16:43
DIMBA said:
I'm in the same predicament M5 goes in Dec after 2 years on contract hire.
I've recently test driven the M6 GC, CLS63 AMGS & the I8, Just the RS7 to go, I had at least 8 hours in each, the MB for 3 days!
The I8 is the most special car so cool, lots of tech looks unique, but maybe too much of a head turner, people were driving alongside and filming the car. You look like a tw@t getting in and out as well.
I want one but would have to sell the kids as they will not fit into the back whatsoever, maybe an option....
The M6 is a great car, better than the M5 no doubt, handles and more importantly gets traction down more easily.
The winner though for me is CLS 63, it's beautiful inside, sounds great, and goes like stink, in a 'refined' way if that's possible with an AMG.
The M6 seemed to handle slightly better, but it was v wet with both cars so difficult to be exact.
I may just have BMW overload though as I have five now in a row, and something inside just wants to change.
May just extend the M5 lease as as I have a cracking deal on it, and it ticks all boxes.
Trying to organise the RS7 now, I could drive any of these cars and be happy, it will probably come down to who has the best deals available when it's time to pull the trigger, in the mean time I'm going to test as many as I can.
Must point at that MB delivered the car to my door on a Saturday and collected it on Tuesday morning, very good service.
Who did you call to get that extended test drive with MB?I've recently test driven the M6 GC, CLS63 AMGS & the I8, Just the RS7 to go, I had at least 8 hours in each, the MB for 3 days!
The I8 is the most special car so cool, lots of tech looks unique, but maybe too much of a head turner, people were driving alongside and filming the car. You look like a tw@t getting in and out as well.
I want one but would have to sell the kids as they will not fit into the back whatsoever, maybe an option....
The M6 is a great car, better than the M5 no doubt, handles and more importantly gets traction down more easily.
The winner though for me is CLS 63, it's beautiful inside, sounds great, and goes like stink, in a 'refined' way if that's possible with an AMG.
The M6 seemed to handle slightly better, but it was v wet with both cars so difficult to be exact.
I may just have BMW overload though as I have five now in a row, and something inside just wants to change.
May just extend the M5 lease as as I have a cracking deal on it, and it ticks all boxes.
Trying to organise the RS7 now, I could drive any of these cars and be happy, it will probably come down to who has the best deals available when it's time to pull the trigger, in the mean time I'm going to test as many as I can.
Must point at that MB delivered the car to my door on a Saturday and collected it on Tuesday morning, very good service.
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!!
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
I'm letting it go back and for the family hack I've contract hired a 335d msport xdrive lci. £314 Inc vat for a 6 x 23 months profile with 10k. However I've added the m plus pack and heated seats on top. Because I've sold the family hack for £40k (discovery sport which was rubbish) I've now got cash in the bank for a toy.
Will really miss the m5. But I suppose the 335d will be equally as quick for day to day usage.
Will really miss the m5. But I suppose the 335d will be equally as quick for day to day usage.
Edited by forest172 on Thursday 16th July 07:51
Edited by forest172 on Thursday 16th July 07:53
HoHoHo said:
You certainly will 
As good as the 335d is, every time you see an M5 on the road you'll have a little feeling of loss which will never dwindle
I will but I had the new c63 on demo all last weekend and really did prefer the smaller car drive. Ok so the 335d ain`t no m3 or c63 but should be a hoot.As good as the 335d is, every time you see an M5 on the road you'll have a little feeling of loss which will never dwindle
And deciding what to buy for a toy is going to be good fun. Also I`ve probably only ever seen 4 m5`s since I`ve had mine
HoHoHo said:
Quick thread resurrection......
Anyone on the 24 month leases that are due to finish shortly made any progress on either their next car, settlement figures or extending their current cars?
I've still got just over a year on mine I'm over the mileage by a few thousand and interested in how BMW maybe likely to talk to me in 7 or 8 months or so.
Right here goes. I was offered the m5 on a 3 month extension for the same monthlies and 6 if I purchased another car from BMW. So I ordered a 335d xdrive LCI on another contract hire deal for September delivery and also said I wanted the car on a rolling monthly basis.Anyone on the 24 month leases that are due to finish shortly made any progress on either their next car, settlement figures or extending their current cars?
I've still got just over a year on mine I'm over the mileage by a few thousand and interested in how BMW maybe likely to talk to me in 7 or 8 months or so.
So was all good, then last week was offered a MY15 7 month old Range Rover sport at £7k under list, like new with 4.5k on the clock in the right colour and spec. So with only a few days before the m5 1st month extension payment was about to come out I managed to cancel that and also with only a £180 penalty knock the 335d on the head. So here with have the replacement and the m5 has gone back today. No everybodys cup of tea on here but a proper beast love it so far!!
BCA who collected the m5 said it was one of the best rentals cars condition wise they`ve ever collected. Will make a good buy for somebody. Loved every day i`ve had it but time for a change. See how we go with the sport, can always buy a m3 in the spring
I`d done 16k on the original tyres. The insides were quite scrubbed but was 3mm on each tyre. They just need to have min. 1.6mm.
Collection people said BMW are the most particular but are the cheapest on repairs. (wheels only £25) They have a pc and a till roll in the car to print out your bill. Mine was a big fat 0, and BMW won`t have to do much prep to sell it on just a quick wash and wax
They all go to a place south of Leicester and not the auctions like people think.
Collection people said BMW are the most particular but are the cheapest on repairs. (wheels only £25) They have a pc and a till roll in the car to print out your bill. Mine was a big fat 0, and BMW won`t have to do much prep to sell it on just a quick wash and wax
They all go to a place south of Leicester and not the auctions like people think.
mondie said:
Thats good to hear Forest. I will be up for a few scuffed alloys and some paint scuffs. How do they quote for that on the spot?
Still trying to find out about the tyre requirements, does anyone know if they discard the tyres and fit new before putting them into the AUC chain? I would like to return mine with winter tyres if possible.
They must have a guide to stick to for quoting. The bill is produced there and then. I`d say they wouldn`t check if they was winter tyres. It`s all about condition and being road legalStill trying to find out about the tyre requirements, does anyone know if they discard the tyres and fit new before putting them into the AUC chain? I would like to return mine with winter tyres if possible.
He did say running in service missing costs £770
Gassing Station | M Power | Top of Page | What's New | My Stuff