Pre-registered - new car finance?

[Nano2nd]

Hi all, do BMW still do new car finance rates on pre-reg cars? my wifes x3 was pre-reg back in 2017 but was applicable for new car rates as it was less that 3 months old and had done <100 miles, it will soon be due for replacement and i was wondering if that was still a thing? it seems the BMW website that listed the pre-reg cars has gone (or i can't find it), all the dealer sites seem to list used car finance on their pre-reg cars

my local dealer is Sytner and back in 2017 these were one of the only dealers i spoke to that didn't offer new car rates on pre-regs - hence they didn't get my business!

I've looked at new via carwow etc but the costs are eye watering in some cases and its not just BMWs, car prices have gone up considerably in the last few years! i didn't appreciate just how good those X3M deals were a £599!

[Court_S]

Not sure they do.

On the 340 thread, someone posted a link to a pre-reg car which attracted the used APR rate of 12.9%

[GTEYE]

Pre-reg cars are technically used so they fall under the used car finance rates.

As long as you finance the cost elsewhere, they can still be a good buy.

[Nano2nd]

GTEYE said:

Pre-reg cars are technically used so they fall under the used car finance rates.

not being funny, but do you know that for a fact or is that just your opinion? as it certainly didn't used to be case.

[Aluminati]

Nano2nd said:

GTEYE said:

Pre-reg cars are technically used so they fall under the used car finance rates.

not being funny, but do you know that for a fact or is that just your opinion? as it certainly didn't used to be case.

Correct back a couple of years. I got one at 3.9%.

[pjv997]

Two years ago I was looking for a pre-reg or v. Low mileage used. Shopped around a lot and couldn’t get interest free finance from any dealership.

Ended up buying an unregistered car which came with interest free.

Not sure if the interest free is (or was) specific to the model.

[numtumfutunch]

Off and on BMW tart here having had a number of new and ex demo cars
Oh, and just FTK on a PCP tonight

As suggested I have found finance rates a bit of a lottery

When I last looked in 2016 you could indeed get new car rates on low mileage SH cars but it was not applied at all dealer groups
This winter though is a different story with minimal finance deals around on used cars

Ive just settled on a new build 5 which is due a facelift so I expected a bit of discounting and the APR on new cars is currently 3.9%

Unfortunately all but one dealer groups apply 11-13% APR on used which just makes them too expensive, even with some of the huge discounts listed on bmw.co.uk. Interestingly all dealer groups except one who drop to 6% APR for a small number of cars all of which seem to be highly spec'd and in very unusual and hard to swallow colours. But new is still cheaper and Im not complaining, go figure. And even at 3.9% and even if your a powerfully built director I reckon PCP is the way to go as you can just walk away from somebody elses problem if a 4y old 6 pot diesel is in fact worth 10p

Cheers

[PorkInsider]

Aluminati said:

Nano2nd said:

GTEYE said:

Pre-reg cars are technically used so they fall under the used car finance rates.

not being funny, but do you know that for a fact or is that just your opinion? as it certainly didn't used to be case.

Correct back a couple of years. I got one at 3.9%.

Yep. Was widely known that delivery miles and < 3 months since 1st reg was classed as new for BMW finance. That was what made the pre-reg' cars such a great deal for many people.

[GTEYE]

PorkInsider said:

Aluminati said:

Nano2nd said:

GTEYE said:

Pre-reg cars are technically used so they fall under the used car finance rates.

not being funny, but do you know that for a fact or is that just your opinion? as it certainly didn't used to be case.

Correct back a couple of years. I got one at 3.9%.

Yep. Was widely known that delivery miles and < 3 months since 1st reg was classed as new for BMW finance. That was what made the pre-reg' cars such a great deal for many people.

From my experience of looking recently, they will only do new cars at the low rates. The used cars seem to be charged at uncompetitive rates as high as 12.4%. And also why the pre-reg cars are nearly always just over 3 months from registration.

However, the saving on new prices are huge as long as you finance it elsewhere.

I've just bagged a high spec delivery mileage 430d M Sport Coupe at 48% discount on list, so the numbers worked for me.

Edited by GTEYE on Monday 17th February 16:31

Edited by GTEYE on Monday 17th February 16:32

[MadDad]

Nano2nd said:

Hi all, do BMW still do new car finance rates on pre-reg cars? my wifes x3 was pre-reg back in 2017 but was applicable for new car rates as it was less that 3 months old and had done <100 miles, it will soon be due for replacement and i was wondering if that was still a thing? it seems the BMW website that listed the pre-reg cars has gone (or i can't find it), all the dealer sites seem to list used car finance on their pre-reg cars

my local dealer is Sytner and back in 2017 these were one of the only dealers i spoke to that didn't offer new car rates on pre-regs - hence they didn't get my business!

I've looked at new via carwow etc but the costs are eye watering in some cases and its not just BMWs, car prices have gone up considerably in the last few years! i didn't appreciate just how good those X3M deals were a £599!

Bought my pre-reg'd X1 from Sandals of Wakefield on the same arrangement, pre-registered with 8 miles on it and they gave me the new car finance deal.

[handbraketurn]

I bought an ex-demo car, they tried to charge me 12.9%, I literally got up from the desk, put my hand out to shake the salesman hand and said thanks for your time, he wouldn't let me go and asked for me to wait while he went upstairs. Within about 10 mins his manager was offering me 7.9%. That is normally as low as you'll get on used.

At my local dealers more recently, when I was having a strange sensible moment and considering getting rid of my 340i for a diesel 4x4, they offered me a pre-registered car on the latest new car finance, this it was about 3.9% because it was still considered a new car.

Think it depends how desperate they are and what's going on with that particular model. I.e. if they have a surplus and something isn't selling, they get more support from BMW finance even on pre-reg'd cars. But otherwise, they generally keep the finance high to keep people buying new cars, otherwise it would be a no brainer to buy a used car every time.

There are some external finance places you can check, I think Lombard used to offer PCP.

Also try buyacar.co.uk sometimes have better finance options.

Edited by handbraketurn on Sunday 23 February 22:40

Edited by handbraketurn on Sunday 23 February 22:42