PCP coming to an end - what next?
Discussion
Hi,
I've got a BMW PCP deal coming to an end in a few months. Car is a 135i on an '09 plate which will have about 61/62k on the clock, with about 7k as the final payment.
Not sure how much BMW would offer me (in terms of equity in the car - if any) to jump to another PCP deal - any guys in the business care to hazard a guess? I'd not mind looking at newer 1 series deals - probably the 116/118i versions.
Part of me thinks it might be worth paying off the final 7k and then selling on as the car might be worth around 10 or 11k on the market - then having the 3 or 4k cash to either put toward a new deal or just buy something for around that value (I don't drive too much now and don't seem to be able to use much of the power of the BMW in and around London anyway!).
I've got a BMW PCP deal coming to an end in a few months. Car is a 135i on an '09 plate which will have about 61/62k on the clock, with about 7k as the final payment.
Not sure how much BMW would offer me (in terms of equity in the car - if any) to jump to another PCP deal - any guys in the business care to hazard a guess? I'd not mind looking at newer 1 series deals - probably the 116/118i versions.
Part of me thinks it might be worth paying off the final 7k and then selling on as the car might be worth around 10 or 11k on the market - then having the 3 or 4k cash to either put toward a new deal or just buy something for around that value (I don't drive too much now and don't seem to be able to use much of the power of the BMW in and around London anyway!).
tallstevef said:
kmpowell said:
Not a chance, assuming it's a DCT then trade/p/x price will be c£10-£12k.
It's a manual - are the DCT's more desirable?TBH though, it'll all depends what car you plan to get into next. If you buy another car from the same dealer then it's 'cost to change' that counts (although getting the best deal on both ends is important to get your target cost to change).
Dave Hedgehog said:
if they have set it up properly you should have the deposit for the next one in it without having to do anything
Do you mean to say that BMW would use the car he's just finished paying for as a contribution to the next car? If so, it doesn't work that way as the 7k is still owed on the finance. So if he either walks away or pays them 7k that's it paid off fully not BMW have an extra 7k. Apologies if that's not what you meant.Swanny87 said:
Dave Hedgehog said:
if they have set it up properly you should have the deposit for the next one in it without having to do anything
Do you mean to say that BMW would use the car he's just finished paying for as a contribution to the next car? If so, it doesn't work that way as the 7k is still owed on the finance. So if he either walks away or pays them 7k that's it paid off fully not BMW have an extra 7k. Apologies if that's not what you meant.OH has done this a few times
Edited by Dave Hedgehog on Thursday 24th July 13:37
[quote=tallstevef]
Not sure how much BMW would offer me (in terms of equity in the car - if any) to jump to another PCP deal - any guys in the business care to hazard a guess? I'd not mind looking at newer 1 series deals - probably the 116/118i versions.
quote]
Why don't you go and ask them?
Not sure how much BMW would offer me (in terms of equity in the car - if any) to jump to another PCP deal - any guys in the business care to hazard a guess? I'd not mind looking at newer 1 series deals - probably the 116/118i versions.
quote]
Why don't you go and ask them?
Dave Hedgehog said:
If they set it at 7 it should be worth say 10, they take the car pay off the outstanding and put the the 3 down as your deposit, hassle free, gives you your deposit and it keeps you in the network, you just swap cars and make the new payments
OH has done this a few times
If you say your OH has done it then fair play, I stand corrected. I was under the impression that the dealer wasn't inclined to give you the difference if the balloon payment was less than its real value as it was something that's agreed before the finance term. Is this the same for all companies/dealers?OH has done this a few times
Edited by Dave Hedgehog on Thursday 24th July 13:37
Swanny87 said:
If you say your OH has done it then fair play, I stand corrected. I was under the impression that the dealer wasn't inclined to give you the difference if the balloon payment was less than its real value as it was something that's agreed before the finance term. Is this the same for all companies/dealers?
It is the whole point/ idea of PCP. Keep you in the network.thread resurrection - kind of!
Ok, as predicted - dealer where I bought from has got in touch and asked what I might do at the end of the PCP. I got the following offer:
10750 trade value
less 7800 owed (final payment to own car)
plus additional allowance of 3514
"All" I would need would be an additional 2.5K and 170pm for a 4 year PCP on a new 116i sport...
Figures didn't really add up (to me) - I've gone back to them. It doesn't seem brilliant to me, and I'm more inclined at the moment to buy the 135i or buy then px for a used 330i (E9x) which are knocking around for around 12k.
Ok, as predicted - dealer where I bought from has got in touch and asked what I might do at the end of the PCP. I got the following offer:
10750 trade value
less 7800 owed (final payment to own car)
plus additional allowance of 3514
"All" I would need would be an additional 2.5K and 170pm for a 4 year PCP on a new 116i sport...
Figures didn't really add up (to me) - I've gone back to them. It doesn't seem brilliant to me, and I'm more inclined at the moment to buy the 135i or buy then px for a used 330i (E9x) which are knocking around for around 12k.
tallstevef said:
plus additional allowance of 3514
"All" I would need would be an additional 2.5K...
I think there's about £1K from BMW on these at the moment so sounds they're offering you another £2.5K then taking it off you again."All" I would need would be an additional 2.5K...
It's one of the things that puts me off PCPs - it can be very hard to see the wood for the trees. I imagine that's a big part of why dealers like them.
Hi, I'm an ex car salesman, just a tip for you. Take your 135 to a few dealers either looking at new or a used replacement, but don't mention that it's on a PCP until you've done a deal that your happy with.
Certainly any BMW main dealers will have a good idea what you balloon is and offer a PX price which may be less than it's true trade value.
You may well get the best deal in December because it is generally a very quiet month for the trade.
Certainly any BMW main dealers will have a good idea what you balloon is and offer a PX price which may be less than it's true trade value.
You may well get the best deal in December because it is generally a very quiet month for the trade.
Here's a new 116iM sport for £299pm with only £299 deposit.
Deal offered sounds terrible.
http://www.douglasparkglasgowbmw.co.uk/current-off...
Deal offered sounds terrible.
http://www.douglasparkglasgowbmw.co.uk/current-off...
Here's a new 116iM sport for £299pm with only £299 deposit.
Deal offered sounds terrible.
http://www.douglasparkglasgowbmw.co.uk/current-off...
Deal offered sounds terrible.
http://www.douglasparkglasgowbmw.co.uk/current-off...
oldnbold said:
Hi, I'm an ex car salesman, just a tip for you. Take your 135 to a few dealers either looking at new or a used replacement, but don't mention that it's on a PCP until you've done a deal that your happy with.
Certainly any BMW main dealers will have a good idea what you balloon is and offer a PX price which may be less than it's true trade value.
Do they not run a check on the car and see there's outstanding finance before giving you a price? Always assumed they would know that sort of thing.Certainly any BMW main dealers will have a good idea what you balloon is and offer a PX price which may be less than it's true trade value.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff