Negotiating with BMW on an AUC
Discussion
Hi all
I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
aussieal said:
Hi all
I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
It may be worth just asking the salesman the question about withdrawing from the finance early or alternatively check with the T and C from BMW / Alphera FinanceI'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
“Usually “ within 14 days is allowed but just check for the charges or wait until a bit longer and see what the interest to date will be.
The rate is not competitive.
Negotiation on anything should be prior to any agreement.
If you can’t secure additional money off the car itself then service , tyres , or as you say a second ( or even third year ) of warranty.
Going back a few (8!) years but the last time I bought an approved used from BMW it was a 530d touring listed at £24500. It was newly listed but exactly the spec I was after - I offered them cash at £1000 under the asking price and for them to chuck in 2 years AU warranty, which they accepted after a bit of to and fro.
Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
Vyncenze said:
Going back a few (8!) years but the last time I bought an approved used from BMW it was a 530d touring listed at £24500. It was newly listed but exactly the spec I was after - I offered them cash at £1000 under the asking price and for them to chuck in 2 years AU warranty, which they accepted after a bit of to and fro.
Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
A negotiation 8 years ago is not really relevant to today’s market. Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
In addition they are less likely to negotiate on a cash purchase because they get additional bonuses for customers using their finance.
Jamescrs said:
Vyncenze said:
Going back a few (8!) years but the last time I bought an approved used from BMW it was a 530d touring listed at £24500. It was newly listed but exactly the spec I was after - I offered them cash at £1000 under the asking price and for them to chuck in 2 years AU warranty, which they accepted after a bit of to and fro.
Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
A negotiation 8 years ago is not really relevant to today s market. Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
In addition they are less likely to negotiate on a cash purchase because they get additional bonuses for customers using their finance.
The OP asked for opinions and experiences. My experience is that they would negotiate. I know they want to sell finance but that's because the finance deals are rubbish. My point was that it may still be possible to negotiate regardless.
If you take BMW finance you have to keep it for 6 months or they claw the bonus back.
When I was shopping for an AUC I found there was no movement at all on price, not even £100, but as this car has been in stock for an age they might.
I managed to get a discount on 2nd year warranty, I think 30% ish
When I was shopping for an AUC I found there was no movement at all on price, not even £100, but as this car has been in stock for an age they might.
I managed to get a discount on 2nd year warranty, I think 30% ish
aussieal said:
Hi all
I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
Check the T&C but when I boughtI'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
My m135i I took the bmw finance but paid it off days later with bank transfer.
Also if you’re going to pay off the bmw finance with a personal loan, arrange the personal loan first. If you do the BMW finance first it might effect the %apr you get offered on a personal loan. If you get the personal loan first and BMW offer you a higher %apr due to having recently taken out a personal loan then who gives a s**t as your paying it off with the lower %apr personal loan anyway.
aussieal said:
Hi all
I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
I always take the finance incentive if offered up (actively negotiate on that) as its usually the only wriggle room they offer other than throwing in a service etc, then I immediately pay the finance off within 14 days. I've done it for our last 5 BMW / Mini purchases, did it last year.I'm currently looking at an X5 40i which has been listed by a BMW dealer since July, with fairly modest reductions in price during that period.
They have offered a decent part ex price against my existing car, and would boost that by £500 if I financed it through a PCP with them, as well as a £700 dealer contribution.
So financing with them knocks £1200 off the car, BUT their finance is 11.9% and far from competitive. Has anyone had experience in taking BMW and then immediately settling it once the car is purchased?
Also, any tips generallt on negotiating with them? I had thought once a deal was agreed that it could be good to push for a second year of BMW warranty cover.
I bought a 530d M Sport six years ago taking the finance incentive (PCP Package) and paying it off in full 2 months later. With the last BWW that I bought for myself three years ago there was no finance incentives, just a good price on the 530 as a part exchange.
I bought Mrs 131 Sport a 3 year old 1 Series last week from BMW where a few of the dealers were offering finance incentives. Whilst we didn t ultimately buy one from a dealer that was offering finance incentives, it appeared that talking with a few dealers that did, the situation of paying the finance off in full without a penalty and / or time implications was less clear so I would check the T&C s.
As always dealing with BMW sales personnel is a pleasure and they are keen to sell cars. To the OP, I m sure you ll get a great car and an overall package at the right price.
I bought Mrs 131 Sport a 3 year old 1 Series last week from BMW where a few of the dealers were offering finance incentives. Whilst we didn t ultimately buy one from a dealer that was offering finance incentives, it appeared that talking with a few dealers that did, the situation of paying the finance off in full without a penalty and / or time implications was less clear so I would check the T&C s.
As always dealing with BMW sales personnel is a pleasure and they are keen to sell cars. To the OP, I m sure you ll get a great car and an overall package at the right price.
MB140 said:
Also if you re going to pay off the bmw finance with a personal loan, arrange the personal loan first. If you do the BMW finance first it might effect the %apr you get offered on a personal loan. If you get the personal loan first and BMW offer you a higher %apr due to having recently taken out a personal loan then who gives a s**t as your paying it off with the lower %apr personal loan anyway.
That's good advice.Vyncenze said:
Jamescrs said:
Vyncenze said:
Going back a few (8!) years but the last time I bought an approved used from BMW it was a 530d touring listed at £24500. It was newly listed but exactly the spec I was after - I offered them cash at £1000 under the asking price and for them to chuck in 2 years AU warranty, which they accepted after a bit of to and fro.
Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
A negotiation 8 years ago is not really relevant to today s market. Don't know if that's standard, but I'm looking at a AU i4 at the moment and will be planning to do similar - I think there's still room for haggling with most car sales, just not the car supermarket types.
In addition they are less likely to negotiate on a cash purchase because they get additional bonuses for customers using their finance.
The OP asked for opinions and experiences. My experience is that they would negotiate. I know they want to sell finance but that's because the finance deals are rubbish. My point was that it may still be possible to negotiate regardless.
I wouldnt be wanting to set an expectation with someone, based on an experience from 8 years ago.
The dealership has to claw back its contribution somehow, hence the higher finance rate.
You can try to negotiate a lower finance rate but they will probably withdraw their contribution.
Can’t really have it both ways! Shop around to see if you can get a personal loan instead at a much better rate?
You can try to negotiate a lower finance rate but they will probably withdraw their contribution.
Can’t really have it both ways! Shop around to see if you can get a personal loan instead at a much better rate?
Slightly OT but be sure to check the final invoice for all the additional huge comission earning s
te they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.
te they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.Edited by ninepoint2 on Saturday 15th November 23:45
ninepoint2 said:
Slightly OT but be sure to check the final invoice for all the additional huge comission earning ste they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.
Even on a brand new car that would be an “impressive “ quantum of try on - Gap , Tyres and wheel protection , Paint protection but £2,400 ?!te they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.Edited by ninepoint2 on Saturday 15th November 23:45
alscar said:
ninepoint2 said:
Slightly OT but be sure to check the final invoice for all the additional huge comission earning ste they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.
Even on a brand new car that would be an impressive quantum of try on - Gap , Tyres and wheel protection , Paint protection but £2,400 ?!te they all add on, and get them taken off, nobody ever needs all that nonsense. Added around £2400 to my invoice on a 2nd hand car for stuff I neither wanted or needed.Edited by ninepoint2 on Saturday 15th November 23:45
Gassing Station | Car Buying | Top of Page | What's New | My Stuff