BMW M140

[nikaiyo2]

So I think I want to get an M140, I test drove one the other day and I was mighty impressed. I enjoyed how comfortable it was when poodling about, even speed humps were dealt with well.

So I have looked at some leases, the best I found was I think £257 PCM with about £2.5k up front.

Or PCP with about £6k in and £299 a month, with £14k GFV. I have not haggled this or anything just off the BMW website.

Is it worth looking at 2nd hand? There seem to be a few year old cars at £25k with a few (3-7k)miles on them, however the APR is getting on for 11% so the monthly repayments are high. Some dealers (very few) seem to have more reasonable APR 5%, so then I would be looking at £3K deposit and £280 monthly.
Again none of this is negotiated just from a bit of browsing websites, are the APRs negotiable for the used cars? I can get a zopa loan for 3.3% to cover the whole lot but tbh for 2% I would go with a car loan/ PCP for felxability.

I think the used option seems to make the most sense right now, am i missing something?

Is there a place to go to for deals on these?

Edited by nikaiyo2 on Wednesday 14th February 21:48

[tickedon]

nikaiyo2 said:

Is there a place to go to for deals on these?

Edited by nikaiyo2 on Wednesday 14th February 21:48

Speak to TRL on baby bmw. Normally does the best deals and on the m140 PCP normally works out cheaper than leasing.

[nikaiyo2]

tickedon said:

Speak to TRL on baby bmw. Normally does the best deals and on the m140 PCP normally works out cheaper than leasing.

Thanks fella, will check him out.

[markstev0]

nikaiyo2 said:

So I think I want to get an M140, I test drove one the other day and I was mighty impressed. I enjoyed how comfortable it was when poodling about, even speed humps were dealt with well.

So I have looked at some leases, the best I found was I think £257 PCM with about £2.5k up front.

Or PCP with about £6k in and £299 a month, with £14k GFV. I have not haggled this or anything just off the BMW website.

Is it worth looking at 2nd hand? There seem to be a few year old cars at £25k with a few (3-7k)miles on them, however the APR is getting on for 11% so the monthly repayments are high. Some dealers (very few) seem to have more reasonable APR 5%, so then I would be looking at £3K deposit and £280 monthly.
Again none of this is negotiated just from a bit of browsing websites, are the APRs negotiable for the used cars? I can get a zopa loan for 3.3% to cover the whole lot but tbh for 2% I would go with a car loan/ PCP for felxability.

I think the used option seems to make the most sense right now, am i missing something?

Is there a place to go to for deals on these?

Edited by nikaiyo2 on Wednesday 14th February 21:48

I had the same problem a few years ago, where used m135’s were more expensive to PCP than buying new as the interest rates on used are so high, the only Bmw dealer that would budge on this rate was Cooper durham, Stratstone etc wouldn’t move. As has been mentioned, trl on babybmw does the best deals on new and comes highly recommended.

[ScoobyChris]

If you want a guide on prices, you can use the coast2coast web site and Tony (TRL) is usually a smidge cheaper.

Was in a similar position this time last year (albeit as a cash buyer) and the discounts available on brand new meant it didn’t make much sense to buy second hand. Also meant I got all the options I wanted on it! List came to 38.5k and I paid 29.8k.

Chris

[MDCB]

nikaiyo2 said:

So I think I want to get an M140, I test drove one the other day and I was mighty impressed. I enjoyed how comfortable it was when poodling about, even speed humps were dealt with well.

So I have looked at some leases, the best I found was I think £257 PCM with about £2.5k up front.

Or PCP with about £6k in and £299 a month, with £14k GFV. I have not haggled this or anything just off the BMW website.

Is it worth looking at 2nd hand? There seem to be a few year old cars at £25k with a few (3-7k)miles on them, however the APR is getting on for 11% so the monthly repayments are high. Some dealers (very few) seem to have more reasonable APR 5%, so then I would be looking at £3K deposit and £280 monthly.
Again none of this is negotiated just from a bit of browsing websites, are the APRs negotiable for the used cars? I can get a zopa loan for 3.3% to cover the whole lot but tbh for 2% I would go with a car loan/ PCP for felxability.

I think the used option seems to make the most sense right now, am i missing something?

Is there a place to go to for deals on these?

Edited by nikaiyo2 on Wednesday 14th February 21:48

I ordered the shadow edition last month and collect next month.

Are you entitled to a company car (which you don’t take)? If so, the deal I’m getting is £1k down and £320 a month. Pretty reasonable.

That’s with 7k miles and metallic paint too

[culpz]

Another option would be to look at a used M135i. I know it's not exactly the same car but there's not much in it between the 2 and they've really come down in price on the used market now. Some real bargains can be had out there.

[nikaiyo2]

MDCB said:

I ordered the shadow edition last month and collect next month.

Are you entitled to a company car (which you don’t take)? If so, the deal I’m getting is £1k down and £320 a month. Pretty reasonable.

That’s with 7k miles and metallic paint too

I am sure that I can be entitled to a company car that I don't take, what proof is required? I had a company car until November ish last year but did not like it...

7k would be ideal for me.


Where is that from?

[MDCB]

nikaiyo2 said:

I am sure that I can be entitled to a company car that I don't take, what proof is required? I had a company car until November ish last year but did not like it...

7k would be ideal for me.


Where is that from?

That’s straight from BMW. Got it all sorted last month.

You simply just have to evidence your entitlement to the car allowance. I just showed them my contract, but they had also suggested an email from my boss would suffice (which I thought could easily be exploited by those who didn’t actually have an allowance but were on good terms with their boss.....).

Edited by MDCB on Thursday 15th February 22:49

Edited by MDCB on Thursday 15th February 22:50

[nikaiyo2]

Hate unfinished threads.

So I got a 2nd hand one in the end. It has all the spec I would have had on a new car, HK, cruise etc. It is an ex “management” car so about 9 months old with 6k on the clock and at 5% apr and £13k discount from new, so happy

[Stu-nph26]

Very nice did BMW give you 5% on a PCP?

[ScoobyChris]

Best colour Enjoy!

Chris

[Welshbeef]

ScoobyChris said:

Best colour Enjoy!

Chris

Recession white 👍

[nikaiyo2]

Stu-nph26 said:

Very nice did BMW give you 5% on a PCP?

Yeah, but it was the only used one in the country with that APR. Something to do with it being a demo they could offer almost the same rate as new.

[Welshbeef]

nikaiyo2 said:

Stu-nph26 said:

Very nice did BMW give you 5% on a PCP?

Yeah, but it was the only used one in the country with that APR. Something to do with it being a demo they could offer almost the same rate as new.

Personal loans come in at 3.4%
Does the GFV make that extra 1.6% interest worth it?

[nikaiyo2]

Welshbeef said:

Personal loans come in at 3.4%
Does the GFV make that extra 1.6% interest worth it?

Would rather have the halves and thirds protection of a secured loan.

I also would imagine after 3 years I will fancy a change, so why pay x2 the monthly payments for 3 years to save what £1200? Or put another way a personal loan will cost me £25k + interest over 3 years the PCP will cost me 1/2 that. If I intended to keep the car for 10 years your point would be more valid.

[nikaiyo2]

ScoobyChris said:

Best colour Enjoy!

Chris

Thanks man, I have always liked white cars. It has red leather, on the adds it looked a bit OTT, but in the flesh I love it

[Welshbeef]

nikaiyo2 said:

Would rather have the halves and thirds protection of a secured loan.

I also would imagine after 3 years I will fancy a change, so why pay x2 the monthly payments for 3 years to save what £1200? Or put another way a personal loan will cost me £25k + interest over 3 years the PCP will cost me 1/2 that. If I intended to keep the car for 10 years your point would be more valid.

You’d only go loan / buy if keeping a car 10years or more?

[nikaiyo2]

Welshbeef said:

You’d only go loan / buy if keeping a car 10years or more?

Yeah, I would rather have the lower monthly payments, and only effectively pay for the use of the cars as opposed to the "equity," that i am likely to not want to purchase in any case. I know a lease or PCP will be more expensive over purchase, but the cost difference is small so it wins for convenience. To be honest i could have put it on a credit card and transferred to 0% for 3 years but CBA.

We are also not really talking about huge sums of money, the penalty for PCP over a loan is nothing, it equates to 1.5 nights out per year of the agreement, its not life changing sums. If this was on 11% like almost all the used BMW's are then yeah i would have done a personal loan. i just see more value in the PCP than a few £ per year.

Edited by nikaiyo2 on Sunday 18th February 10:58