M135i PCP experiences

[tjk123]

Could be posting in the wrong section but here goes...

Anyone with experience of getting deals on the M135i care to cast a critical eye over the following deal? The quote is for a PCP, just want to gauge how competitive it is compared to what others on here might be getting or have secured. So if anyone is shopping for one of these things please chime in.

Car specced as follows:

5 door
Metallic
Auto
Adaptive suspension
Folding & autodimming mirrors
Fineline wood
Heated seats
Harmon Kardon

(£3,300 on options)

Car lists at £33,660 with those options. Dealer is offering a 'special allowance' of £1,960 (6.5%-ish discount), bringing price down to £31,700. Add delivery/fuel + seal protect paint thing and the total comes to £33,112

3yr deal with £4k deposit, 12k p.a. mileage and a GFV of £14,840 and APR 4.9%.
Monthly payments of £498

Good? Bad? Indifferent?
Sod off to another forum?

[LocoBlade]

Doesn't sound very good to me, there's a standard "dealer contribution" of over £1500 so the discount they're giving you over and above isn't very much. Some on babybmw.net have been talking of getting 10-12% overall discounts so I reckon there's much more to be had, although it might not be with the dealer you're currently talking to as some seem reluctant to play ball, but the above forum should be able to point you in the right direction dealer wise.

Also the general advice seems to be not to bother with the "Supaguard" paint treatment thing because you can get a much better result for the same or less money if you got a pro detailer to give the car a full treatment.

[terryb]

Don't get their Gap insurance either. You can get the same cover much cheaper aftermarket

[mackie1]

I considered a similar deal but went with a C63 for similar money.

[Yamatrix850]

£21k to borrow a car for 3 years?

How can that ever be a good deal?

[Zyp]

Yamatrix850 said:

£21k to borrow a car for 3 years?

How can that ever be a good deal?

It can be a good deal if the car loses more than that in depreciation ( see M3/5 lease deals).

However, that's possibly not the case with the car in question.

[tjk123]

Zyp said:

It can be a good deal if the car loses more than that in depreciation ( see M3/5 lease deals).

However, that's possibly not the case with the car in question.

I'd expected a higher GFV. Financing depreciation of circa £21k on a 1-Series does begin to make it look like a bit of an expensive exercise.

[mathmos]

Yeah almost everyone on the 1 series forums seems to be getting at least 10%, some up to 12%. PM me and I'll let you know the dealer that seems to be offering the discount to everyone.

[gjf764]

I got c 10% discount on mine and a really good PX. Let me know if you want me to put you in touch

[LocoBlade]

tjk123 said:

I'd expected a higher GFV. Financing depreciation of circa £21k on a 1-Series does begin to make it look like a bit of an expensive exercise.

Unless you plan to hand it back at the end, all the GFV does really is determine how much you pay in monthly instalments and how much you need to pay at the end, it doesn't determine the actual depreciation you'll experience. High GFV means low monthlies but high end payment, so less chance of any equity and more chance of handing it back being a viable option (because the car is worth less than the GFV) whereas low GFV means higher monthlies but more chance of equity in the car at the end of the term, so more likely that buying it outright / trading it in / selling it privately would be the more profitable option.

[mackie1]

You can drive away in an M3 for less than those monthlies if you want. I couldn't ignore the Merc deal, it's a steal for a damn near £60k car.

[Wolands Advocate]

tjk123 said:

Could be posting in the wrong section but here goes...

Anyone with experience of getting deals on the M135i care to cast a critical eye over the following deal? The quote is for a PCP, just want to gauge how competitive it is compared to what others on here might be getting or have secured. So if anyone is shopping for one of these things please chime in.

[…]

Car lists at £33,660 with those options. Dealer is offering a 'special allowance' of £1,960 (6.5%-ish discount), bringing price down to £31,700. Add delivery/fuel + seal protect paint thing and the total comes to £33,112

3yr deal with £4k deposit, 12k p.a. mileage and a GFV of £14,840 and APR 4.9%.
Monthly payments of £498

Good? Bad? Indifferent?
Sod off to another forum?

The issue is not so much the PCP offer (which is a standard one – 4.9% is the current BMW rate) but the discount you are able to haggle and the GFV they offer (which is spec-dependent). I got just over 8% out of my dealer last July (which equated to around £3k) and there are people kicking around who claim to have got 10% off. GFV on my heavily-optioned 5dr manual is circa £15,800.

The C63 deals are tempting and I looked at them very closely (even went for a testdrive), but only if you have no intention of keeping the car after three years or any illusions that it might be worth more than the GFV. And in the meantime, you've still got to cope with C63 running costs which are on another planet compared to an M135i.

[Nigel H]

Wolands Advocate said:

The issue is not so much the PCP offer (which is a standard one – 4.9% is the current BMW rate) but the discount you are able to haggle and the GFV they offer (which is spec-dependent). I got just over 8% out of my dealer last July (which equated to around £3k) and there are people kicking around who claim to have got 10% off. GFV on my heavily-optioned 5dr manual is circa £15,800.

Correct. Adding the professional media back leaves 33% of its value in the GFV, others e.g. HK speakers don't.

[R5YUP]

I am paying £33.4k for a £37.6k spec car OTR. So, £4.2k discount. This is what you need to push for, although some dealers aren't interested!

Mine gets built next week!

[RossP]

I got an M3 (with 7k of extras) with 15k miles on for only slightly higher monthly payments so it's a 'No' from me...

[Nigel H]

They must be selling well......

APR now gone up to 8.9% and the dealer contribution has gone as well.

[KenC]

Nigel H said:

They must be selling well......

APR now gone up to 8.9% and the dealer contribution has gone as well.

Contribution maybe gone from the website but you'll get it as discount if you ask.

[Wolands Advocate]

RossP said:

I got an M3 (with 7k of extras) with 15k miles on for only slightly higher monthly payments so it's a 'No' from me...

But you've got to want to have an M3 instead. This may come as a surprise, but not everyone prefers an M3 or has an M135i because they couldn't afford an M3.

[RossP]

Wolands Advocate said:

RossP said:

I got an M3 (with 7k of extras) with 15k miles on for only slightly higher monthly payments so it's a 'No' from me...

But you've got to want to have an M3 instead. This may come as a surprise, but not everyone prefers an M3 or has an M135i because they couldn't afford an M3.

OP asked for opinions. I gave mine!

[LocoBlade]

KenC said:

Nigel H said:

They must be selling well......

APR now gone up to 8.9% and the dealer contribution has gone as well.

Contribution maybe gone from the website but you'll get it as discount if you ask.

It's all back again now, 4.9% and dealer contribution showing again on the configurator.