M4 - Newbie Question on Deals

[roger1101]

Hi All

Ive been trawling these forums for a while after deciding to take the plunge and purchase an M4. Im looking for M4 competition pack and considering options. I had a number of questions id be very greatful for any help on.

1: I appreciate no one pays list but BMW approved have a number of 6 month old cars with options ie 7 speed DCT etc for circa 46-48 k. Given list was circa 70k has someone really taken this deprecation or am I missing something.

2: Appreciate how long is a piece of string but what would we guess New sept 2017 would be worth Sept 2019 or Sept 2020? Will the new shape kill values on old shape?

3: BMW finance seems to range form 7- 11%. Why would I take that if I could finance either myself or thought a standard loan. Am I missing a further deal if I don't take BMW finance?

Again, thanks for the advice in advance.

My best

Roger

[Smuler]

roger1101 said:

Hi All

Ive been trawling these forums for a while after deciding to take the plunge and purchase an M4. Im looking for M4 competition pack and considering options. I had a number of questions id be very greatful for any help on.

1: I appreciate no one pays list but BMW approved have a number of 6 month old cars with options ie 7 speed DCT etc for circa 46-48 k. Given list was circa 70k has someone really taken this deprecation or am I missing something.

2: Appreciate how long is a piece of string but what would we guess New sept 2017 would be worth Sept 2019 or Sept 2020? Will the new shape kill values on old shape?

3: BMW finance seems to range form 7- 11%. Why would I take that if I could finance either myself or thought a standard loan. Am I missing a further deal if I don't take BMW finance?

Again, thanks for the advice in advance.

My best

Roger

Maybe these cars were owned by BMW or dealership, ex demos for example. Why is that relevant? If interested in a specific car, ask to see V5 to check if ownership was private if that matters.

No idea

My father considered the deal on BMW finance, but found it much better to take a loan. You should go on BMW site, see below, to research the different finance options PCP or Hire purchase or contract and see if any of these work for you.


https://www.bmw.co.uk/finance

But surely the key is to evaluate the individual deals on the table, from the dealers you consider financing with, versus your best loan option for buying outright. They might offer a more attractive discount if financing, for example.

Check out brokers too for prices, Broadspeed, Coast to Coast and Tony Lewis (TRL) who I believe is now at BMW Berry Heathrow are good places to start.

[Cosworth4388]

Very few if any people have paid list price .
I just bought a new m3 on Saturday inc options it was about £66500 ( comp pack )
I've got 9.6% off and 0% finance .
This worked out cheaper than buying a new registered m4 they had in the show room at £58000 I think the Apr on that would of been 7.9%.

I have to money to buy outright but as there is 0% finance ATM seemed pointless to buy outright ATM

[RM88]

The BMW used finance standard rate is quite frankly a joke at 10.9% but it is negotiable. It's the first thing that I would be looking to get lower.

5.9 is the highest that I would go from them and can be done easily on an approved car, obviously makes a massive difference to total interest payable. New cars are obviously a different story.

[Andy OH]

RM88 said:

The BMW used finance standard rate is quite frankly a joke at 10.9% but it is negotiable. It's the first thing that I would be looking to get lower.

5.9 is the highest that I would go from them and can be done easily on an approved car, obviously makes a massive difference to total interest payable. New cars are obviously a different story.

Can you really get them to 5.9% on a used car? I know I have seen some of the Scottish dealers offering this rate on a used car.

I bought a new M2 from Cooper Colchester and was interested in a year old M240i cabriolet for Mrs OH and they wouldn’t budge from 8.9%. I walked away from that one as the rate was still too high. I tried my hardest and they flattly said no, 8.9% was as low as they could go.

[roger1101]

Hi All.

Thanks for the valued advice and a brief update. Was in yesterday evening and they dropped APR from 10.9 to 8.9. They flagged this could come lower. Looking at Oct 2017 M4 DCT with 2k clock on for 51k which compared to others seemed a little on high side. They were prepared to drop the price but wouldnt say what to, wanting me to state what id pay. etc etc.

Walked away to look at others and will go back Friday to see what a final price is.

Would anyone have any exp haggling off Approved prices?

Best

[Smuler]

roger1101 said:

Hi All.

Thanks for the valued advice and a brief update. Was in yesterday evening and they dropped APR from 10.9 to 8.9. They flagged this could come lower. Looking at Oct 2017 M4 DCT with 2k clock on for 51k which compared to others seemed a little on high side. They were prepared to drop the price but wouldnt say what to, wanting me to state what id pay. etc etc.

Walked away to look at others and will go back Friday to see what a final price is.

Would anyone have any exp haggling off Approved prices?

Best

I've found a willingness to decrease price occurs in proportion to how long they've had a car and how little other interest there is. You can usually find out the former, if they say other interest you've got to rely on your gut instinct if this bullst to get you to bite.

It's not a rare car, so push them on price compared to similar cars that are cheaper. They may have targets to meet and will be keen to get sold or really be in no rush. If a sales person wanted me to say the price I'd pay, I'd bid lower than my lowest figure.

Never give the impression you're too keen, that was the advice I got from someone 45 years in the trade.

[Pioneer]

I just bought the wife a late 2017 M4 Comp Pack Convertible, Silverstone II DCT at £46,500. Screen price was £48,500 I think which was one of the cheaper ones considering it had the comfort pack, icon adapt. leds, apple, hud, speed limit dis, carbon, HK etc. Paid cash and did the deal just before the end of March. Had been on BMWs website for a couple of weeks I think. I think you need to time the offer right and if they think it's an easy sale, no finance or finance pre-approved they may bite

[nw942]

My understanding is that BMW would usually start off with a margin of around £4-5k when a car such as this is first listed. Others can correct me on that.

So if you are buying cash I would assume that you could easily get £2k off. Maybe some servicing thrown-in if it doesn't have a service pack.

If you are buying on finance then maybe you can get a further contribution. Your biggest problem here is getting the APR down as the interest will push the total cost to purchase over the term up significantly. Maybe even up into new car at 0% teritory as another poster has already said, but you would have to do the maths.

In an ideal world you could take the finance (with extra discount) and then pay it off quickly.

[pjv997]

I recently bought an M6 GC and although I was initially looking at 6-9 months old cars with a few thousand miles on the clock, ended up buying an un-registered car.

I had fairly advanced discussions with 3 dealers and the focus was typically on the monthly payment, although I was clear I would only use BMW finance if there was a real incentive to do so.

At the end of the day, I simply added up the deposit offered for my part-ex, the total monthly payments and the balloon payment to compare offers. Appreciate that this is a simplistic approach and that I could have built an Excel model to do a proper comparison, but it met the Man Maths requirement which showed the unregistered car overall was (in the scheme of things) not that much more than the 9 month old car that was previously top of my list. The main driver to the 'value' of the new car was that it was offered with zero percent finance.

For those that are not strong with numbers, I think my simple approach is a decent place to start when comparing one dealer offer against another.

[nbetts]

Just to give some information to the OP so that he can understand what a good deal may or may not be.

I bought a M3 Competition Pack DCT with a huge specification. It was a 2018 LCI Car (so revised LED Headlamps and some tweaks here and there). The car retailed at £74995 when new (RRP)

I Paid £50k with 5k miles on the clock at 8 months old. Full individual specification, Service Pack, Full leather interior.

Shop hard for your deal & good luck.

[RM88]

Andy OH said:

Can you really get them to 5.9% on a used car? I know I have seen some of the Scottish dealers offering this rate on a used car.

I bought a new M2 from Cooper Colchester and was interested in a year old M240i cabriolet for Mrs OH and they wouldn’t budge from 8.9%. I walked away from that one as the rate was still too high. I tried my hardest and they flattly said no, 8.9% was as low as they could go.

It's entirely up to them. I believe they are given a minimum rate from the finance house then use their discretion as to what they set it at anything over the minimum they earn a commission or 'kick back' on. Hence why even on the same models some are 6.9 some 7.9 and I've even seen 11.9. If they don't want to go as low as possible that's their discretion.

I had experience on this on a M135i where one dealer just flatly refused to move from 11.9 and tried to tell me that was the rate and got a bit miffed when I told them another dealer had offered 8.9 stating it was impossible found a dealer in the end that started at 7.9 and eventually agreed on 5.9.