130, AUC or Dealer?

[S3_Graham]

chaps,

Due to mine and the GF's house purchase falling through and being postponed until next year (they upped the price of the house by £20k... cheers!).

as such i am now allowed to start looking into a 130 with some actual potential to pull it off.

what are thoughts on an AUC car vs. normal dealer?

closest match i can find are these 2, only difference being the AUC car doesnt have leather, not a huge deal for me.

BMW - £11,000
http://www.bmw.co.uk/bmwuk/bmwauc/details/0,,1156_...


Dealer - £9,490
http://www.autotrader.co.uk/classified/advert/2011...




What sort of finance deals do BMW do? Best i can find online is 6.7%

[ucb]

The APR on my finance quote from BMW was 10.6%. It was also blatantly missold to me by tge business manager who continued to insist that it was 4.9%. cock

[CarbonBlackM5]

I've been looking at these and TBH I would probably prefer a AUC warranty

[martin mrt]

Id go with BMW AUC the warranty is worth its weight in gold

Ive just bouht a 335d Tourer from a dealer and got 4% flat rate over 4 years but i am a staff member within thee group that owns the dealer, im unsure if this makes a difference

[S3_Graham]

kin 'ell 4% is an awesome rate!

i can certainly see this working, but for some reason my local dealer (the AUC car above) is closed on sundays.... didnt think many places closed on sundays these days!!

will try to find time in the week or next weekend.

[S3_Graham]

hmm... just need to sell my E36 328 sport now!!

[kentmotorcompany]

AUC warranty is miles better than you would get from an independent dealer.

But the car is £1,500 more so you pay your money and all that. Also the cheaper car has the leather, so I'd say the difference is closer to £2k if you take that into account.

My advise would is to be open to either and go and look at both cars. Main dealers get through their fair share of not quite so previously well kept cars, just like any other dealer.



P.S. I hate those photos with shopped on backgrounds. AT offered it to me, the idea being all your photos look more consistent on your website. Glad I didn't take it.

[kentmotorcompany]

APR is normally roughly double the flat rate.

Dealers selling finance like to quote flat rates, as they sound more attractive, but in fairness to them APR's are very hard to calculate, and no one normally knows the exact number until the agreement is accepted by the finance house. Flat rates are pish easy, and most times more relivent if you know how its worked out.

5% flat over four years is:

5x4=20 (5x3 if the loan is three years, and so on)

20% is the total amount of interest to add to the loan

I.E £10,000 + 20% = £12,000



However if you borrowed a small amount over just one year at the same flat rate the APR will show much higher.

One of the reasons these short term loan companies that advertise on TV lately all have APR's in the thousands

[S3_Graham]

I'd be looking over 3 years - the £2k for my car so around the 9000 mark on finance. Best loan available on the net is 6.7% which as it happens is who I'm looking to get a mortgage with next year. (which helps).

Flat 4% doesn't look as great as it previously did. 4x3 would give 12% which if I'm correct works out more than the 6.7 bank loan.

[kentmotorcompany]

4% flat probably isn't as good a 6.7% APR, but to be sure you need to to look at it the total amount repayable including any arrangement fees.

[E30M3SE]

People always get all hung up on APR's, you need to look at the monthly payment and the TAP.

[S3_Graham]

going to see it on friday so will report back.