BMW PCP - cannot resist the temptation - what should i do?
Discussion
With that deposit of £7500 you could get a decent bank deal for half that interest rate.
Banks also do HP/ PCP deals at interest rates of 4%
Don't forget lightly used - On autotrader a 2017 M4 comp pack with 491 miles on the clock, from franchised dealer is £48k all in,
Consider it!
I hope it works out!!
Banks also do HP/ PCP deals at interest rates of 4%
Don't forget lightly used - On autotrader a 2017 M4 comp pack with 491 miles on the clock, from franchised dealer is £48k all in,
Consider it!
I hope it works out!!
there doing 0% on new ones and you can still get approx 10% off... search out Terry (TRL) on babybmw.net for the best deal
my new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
my new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
Nano2nd said:
there doing 0% on new ones and you can still get approx 10% off... search out Terry (TRL) on babybmw.net for the best deal
my new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
Tony Lewis at Berry BMWmy new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
Nano2nd said:
there doing 0% on new ones and you can still get approx 10% off... search out Terry (TRL) on babybmw.net for the best deal
my new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
The deal offered up here (without any negotiation) ismy new m4 comp pack was £67K list, i paid £55.2k - £5k in and £695pm thats was at 4.9% as i recall, obviously that was the deal i got at the time so your mileage might vary.... but it gives you some guidance, i couldn't get the maths to stack up on a secondhand one at 7.9%
I’m told there is huge amounts to be added with negotiation
The old fashioned way of looking at it is that you’re buying a car that’s near enough 100% of your annual gross salary.
Are you honestly going to to be happy paying nearly £600 a month for 4 years for the same car and then have to pay out another £25k to own it?
I earn £10k more, also have no kids and I wouldn’t even dream of blowing all that cash on something like that
Are you honestly going to to be happy paying nearly £600 a month for 4 years for the same car and then have to pay out another £25k to own it?
I earn £10k more, also have no kids and I wouldn’t even dream of blowing all that cash on something like that
As said you'll be into the tune of a grand a month for 48 months by which time you'll have to think about how you plan to refinance the further 25k.
I'm not saying it's a terrible idea or you shouldn't, but it's not going to allow you to do much else. Priorities can change. A good friend has just paid bmw £5k to take his M4 away because he was tired of ownership and wanted to step away from those sort of monthly commitments.
50k is a fairly good salary but this cars nearly 1.5x net. It's a hell of a lot of money. I couldn't justify the expense, if you can then crack on, enjoy it.
Would a used on be a better bet, no cheap finance but m4 on AT from early 30k's.
I'm not saying it's a terrible idea or you shouldn't, but it's not going to allow you to do much else. Priorities can change. A good friend has just paid bmw £5k to take his M4 away because he was tired of ownership and wanted to step away from those sort of monthly commitments.
50k is a fairly good salary but this cars nearly 1.5x net. It's a hell of a lot of money. I couldn't justify the expense, if you can then crack on, enjoy it.
Would a used on be a better bet, no cheap finance but m4 on AT from early 30k's.
Edited by coljoh148 on Monday 7th May 20:29
Gargamel said:
To pay of the final balloon at the end of the 48 months you need to save £500 a month every month for 4 years.
It’s basically going to cost you more than a grand a month. Is it wise ?
1k per month? Come again? It's £555 for 4 years, then the OP can pay the balloon off with a loan if need be.It’s basically going to cost you more than a grand a month. Is it wise ?
Yes it's a lot of money, but it'll be a hell of a fun car.
Olivera said:
Gargamel said:
To pay of the final balloon at the end of the 48 months you need to save £500 a month every month for 4 years.
It’s basically going to cost you more than a grand a month. Is it wise ?
1k per month? Come again? It's £555 for 4 years, then the OP can pay the balloon off with a loan if need be.It’s basically going to cost you more than a grand a month. Is it wise ?
Yes it's a lot of money, but it'll be a hell of a fun car.
wioifoiee said:
coljoh148 said:
People are factoring in total cost of ownership, insurance fuel servicing tax etc are all huge on these cars.
it costs £6k a year to run an M4??how did you work that one out?
if it really does, then fair enough!
Insurance, fuel, servicing, maintenance could easily be 350-400 per month and cannot be ignored.
Olivera said:
Gargamel said:
To pay of the final balloon at the end of the 48 months you need to save £500 a month every month for 4 years.
It’s basically going to cost you more than a grand a month. Is it wise ?
1k per month? Come again? It's £555 for 4 years, then the OP can pay the balloon off with a loan if need be.It’s basically going to cost you more than a grand a month. Is it wise ?
Yes it's a lot of money, but it'll be a hell of a fun car.
The OP is thinking of buy a lovely car, I have drive one a couple of times, they are mint.
However I don’t think this is sensible, it’s a big financial commitment, for four years, and potential eight years if he finances the balloon.
What’s an eight year old M4 going to be worth... £6-8k ?
I wish I had a pound for every time someone predicts their incoming car is a long term keeper and still get fed up a couple of years down the line.
If you've not managed to save a significant amount of money driving a C4, what makes you think you'll run a M4, pay the finance and save up the balloon payment?
To manage that will be your full £1300 per month gone with nothing left for anything else.
How old are you? Why don't you go outside?
I would really urge you to find hobbies and interests to get out and about. Don't have all your money tied in a car.
If you've not managed to save a significant amount of money driving a C4, what makes you think you'll run a M4, pay the finance and save up the balloon payment?
To manage that will be your full £1300 per month gone with nothing left for anything else.
How old are you? Why don't you go outside?
I would really urge you to find hobbies and interests to get out and about. Don't have all your money tied in a car.
Gargamel said:
What’s an eight year old M4 going to be worth... £6-8k ?
An 8 year old M4 will only be worth 6-8k? What? Go look up 2010 (8 year old) M3 Coupes and tell us how much they are worth - at least 20k for a one owner low miles car, possibly more.You'd struggle to get a good 25 year old example of an E36 M3 for 6 to 8k!
Oh second hand ~38k M4 vs new M4 competition pack - I'd go for the latter. More power, extensive chassis revisions to fix the criticised original car, 3 years warranty instead of 1etc.
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