Discussion
Hi all,
I am currently negotiating a PCP deal on a M3. I have been looking at Lease deals and I think this will be the route I'm taking, unless BMW can get close enough to do a deal on PCP (I understand I will have to pay more for PCP).
PCP Deal:
3 Years - Deposit £4000 - £790pcm - GFV £29,305.60
Spec - DCT, Competition pack, H&K Sound, Dab radio, Sun protection glass, Heated seats, shadowline, phone USB, Front/Rear PDC, Sliding arm rest's & folding mirrors.
What do you guy's think? Personally I believe this is a little expensive, especially when you can get a lease at £1574 deposit & £525pcm, all be it not at the same spec. I like the idea of the potential ownership and the possibility of equity at the end of the agreement, but is it really worth the extra cost over a lease deal.
Thanks all.
I am currently negotiating a PCP deal on a M3. I have been looking at Lease deals and I think this will be the route I'm taking, unless BMW can get close enough to do a deal on PCP (I understand I will have to pay more for PCP).
PCP Deal:
3 Years - Deposit £4000 - £790pcm - GFV £29,305.60
Spec - DCT, Competition pack, H&K Sound, Dab radio, Sun protection glass, Heated seats, shadowline, phone USB, Front/Rear PDC, Sliding arm rest's & folding mirrors.
What do you guy's think? Personally I believe this is a little expensive, especially when you can get a lease at £1574 deposit & £525pcm, all be it not at the same spec. I like the idea of the potential ownership and the possibility of equity at the end of the agreement, but is it really worth the extra cost over a lease deal.
Thanks all.
Edited by rjm8282 on Friday 7th September 19:37
I'd get rid of the sun protection glass and opt for heated seats. It's different to the deal I had with BMW but like I said in the other thread I paid about 1K over list for my ideal car. That is excluding the two year road fund licence that BMW so all in all I broke even.
Oh a quick tip. When it comes to buying the car or giving it back, get the price from BMW direct and not your dealer. Mine wanted an extra 3k whereas I purchased the cheapest M3 for my spec and milage in the country by at least 5K.
Go ahead and do it. As a one stop car that does it all, there is no better IMO.
Just don't look at the fuel comsumption. It was bad enough when I took delivery of mine in 09
Oh a quick tip. When it comes to buying the car or giving it back, get the price from BMW direct and not your dealer. Mine wanted an extra 3k whereas I purchased the cheapest M3 for my spec and milage in the country by at least 5K.
Go ahead and do it. As a one stop car that does it all, there is no better IMO.
Just don't look at the fuel comsumption. It was bad enough when I took delivery of mine in 09
Hi there!
If you're going to do this, do the personal contract hire deal.....forget PCP.
Eastern BMW offer some excellent deals, better than anywhere in my experience.
Contact Greg there and I'm sure he'd put together the very best deal available.
I really admire the fact that you know what you want and will have it whatever it takes.
Looking forward to seeing the pics!!
Jazzer
If you're going to do this, do the personal contract hire deal.....forget PCP.
Eastern BMW offer some excellent deals, better than anywhere in my experience.
Contact Greg there and I'm sure he'd put together the very best deal available.
I really admire the fact that you know what you want and will have it whatever it takes.
Looking forward to seeing the pics!!
Jazzer
The lease deal on a standard M3 DCT with 19's, pro media, and heated seats, isn't going to get any better. Circa £399+VAT with 6 months up front is as good as it, or 3 up front and the payment increases, but all adds up to the same.
There is word that the LE 500 models may come onto a PCH deal, and also we have just pre registered a few cars various spec's from LE500 to Frozen silver, and i will be working on an offer on them on Monday.
So paying on a lease circa £17,000 for 30 months is probably less than the car would depreciate, however for example a frozen silver edition with £13500 off list price is also a deal and will help limit depreciation. either way you are really funding the depreciation element.
Whatever way you cut the cake the realism of the situation is that the cars will depreciate, you can pay 60k for a new car and in 2 years it could be worth £35k, you could PCP a car over 3 or 4 years have 25-30k residual on it, put in 5 grand and have no equity at the end.
The real thing is that an M3 is an aspirational car, not a necessity, and if you have a spare £480 per month you can run an M3 which is for sweeties, and a lot of folk just now that get allowances instead of company cars and can now run an m3 instead of a company mondeo or insignia.....what would you rather???
Greg
There is word that the LE 500 models may come onto a PCH deal, and also we have just pre registered a few cars various spec's from LE500 to Frozen silver, and i will be working on an offer on them on Monday.
So paying on a lease circa £17,000 for 30 months is probably less than the car would depreciate, however for example a frozen silver edition with £13500 off list price is also a deal and will help limit depreciation. either way you are really funding the depreciation element.
Whatever way you cut the cake the realism of the situation is that the cars will depreciate, you can pay 60k for a new car and in 2 years it could be worth £35k, you could PCP a car over 3 or 4 years have 25-30k residual on it, put in 5 grand and have no equity at the end.
The real thing is that an M3 is an aspirational car, not a necessity, and if you have a spare £480 per month you can run an M3 which is for sweeties, and a lot of folk just now that get allowances instead of company cars and can now run an m3 instead of a company mondeo or insignia.....what would you rather???
Greg
Eastern boy said:
The lease deal on a standard M3 DCT with 19's, pro media, and heated seats, isn't going to get any better. Circa £399+VAT with 6 months up front is as good as it, or 3 up front and the payment increases, but all adds up to the same.
There is word that the LE 500 models may come onto a PCH deal, and also we have just pre registered a few cars various spec's from LE500 to Frozen silver, and i will be working on an offer on them on Monday.
So paying on a lease circa £17,000 for 30 months is probably less than the car would depreciate, however for example a frozen silver edition with £13500 off list price is also a deal and will help limit depreciation. either way you are really funding the depreciation element.
Whatever way you cut the cake the realism of the situation is that the cars will depreciate, you can pay 60k for a new car and in 2 years it could be worth £35k, you could PCP a car over 3 or 4 years have 25-30k residual on it, put in 5 grand and have no equity at the end.
The real thing is that an M3 is an aspirational car, not a necessity, and if you have a spare £480 per month you can run an M3 which is for sweeties, and a lot of folk just now that get allowances instead of company cars and can now run an m3 instead of a company mondeo or insignia.....what would you rather???
Greg
Is that on 10k per annum There is word that the LE 500 models may come onto a PCH deal, and also we have just pre registered a few cars various spec's from LE500 to Frozen silver, and i will be working on an offer on them on Monday.
So paying on a lease circa £17,000 for 30 months is probably less than the car would depreciate, however for example a frozen silver edition with £13500 off list price is also a deal and will help limit depreciation. either way you are really funding the depreciation element.
Whatever way you cut the cake the realism of the situation is that the cars will depreciate, you can pay 60k for a new car and in 2 years it could be worth £35k, you could PCP a car over 3 or 4 years have 25-30k residual on it, put in 5 grand and have no equity at the end.
The real thing is that an M3 is an aspirational car, not a necessity, and if you have a spare £480 per month you can run an M3 which is for sweeties, and a lot of folk just now that get allowances instead of company cars and can now run an m3 instead of a company mondeo or insignia.....what would you rather???
Greg
Hi Jazzer and Greg
Could you give us some numbers and the dfference between the a PCP and a personal Hire scheme?
I'm really interested in starting a hire/lease company and would like to get the best deal possible.
The 10,000 miles per annum would kill the business unless an alternative could be worked out.
Edited by Schermerhorn on Monday 10th September 22:25
Schermerhorn said:
Hi Jazzer and Greg
Could you give us some numbers and the dfference between the a PCP and a personal Hire scheme?
I'm really interested in starting a hire/lease company and would like to get the best deal possible.
The 10,000 miles per annum would kill the business unless an alternative could be worked out.
Hi!Could you give us some numbers and the dfference between the a PCP and a personal Hire scheme?
I'm really interested in starting a hire/lease company and would like to get the best deal possible.
The 10,000 miles per annum would kill the business unless an alternative could be worked out.
Edited by Schermerhorn on Monday 10th September 22:25
I'm not in that business!!
You will find though that very good deals tend to be tight on mileage.
10-12k pa ups the price, as do some desirable options.
Dealers like you to spec the car well to make ultimate retail easier for them.
yeah 10,000 miles per year will up it £15 per month or so, 12,000 miles about £30 per month.
The spec is quite sensitive, some options help the residual such as 19's so they don't add much to the rental, other stuff doesn't effect the residual so your just adding on more ££££'s per month.
The PCH is generally much less because you are just basically having a long term rental, where as pcp you have the option to own at the end. it splits opinion between own/rent, but s a cost effective way PCH is the way to go IMHO.
As per spec ordered it's up to the individual the car don't come back to the dealer, we will probably get the option to buy at auction at the end of term, but that is optional, the risk is with the finance company all the time
Greg
The spec is quite sensitive, some options help the residual such as 19's so they don't add much to the rental, other stuff doesn't effect the residual so your just adding on more ££££'s per month.
The PCH is generally much less because you are just basically having a long term rental, where as pcp you have the option to own at the end. it splits opinion between own/rent, but s a cost effective way PCH is the way to go IMHO.
As per spec ordered it's up to the individual the car don't come back to the dealer, we will probably get the option to buy at auction at the end of term, but that is optional, the risk is with the finance company all the time
Greg
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