New M2 great deal
Discussion
pvogue said:
awesome deal.........! Where??!
TRL Deals Instagram https://www.instagram.com/p/Bec8_C2juMI/?hl=en
Edited by cc3 on Sunday 28th January 20:50
woogie said:
Hi - forgive my ignorance but how to these PCP's work ? it says 5 grand down then 47 times 446 quid a month but after 4 years what happens ?
Do you give the car back and that's it?
Apologies I have never done a PCP
PCP is a form of lease, personal contract hire.Do you give the car back and that's it?
Apologies I have never done a PCP
Buyer pays a Deposit, plus X number of payments, plus calculated Balloon (Final payment often referred to as GFD or cars value after estimated mileage/years usage) then say after say 3/4 years (36/48 months) you either hand car back, or pay the final Balloon payment keep the car.
You have an option once you have paid 50% of the 'financed' amount back, to return the car fee free before the end of the 48 month agreement.
Watch out for any excess mileage charges often on M cars can be as high as 10-15ppm, and keep it in good nick if you dont plan to buy or pay balloon.
Thats more or less it.
Andy
woogie said:
Hi - forgive my ignorance but how to these PCP's work ? it says 5 grand down then 47 times 446 quid a month but after 4 years what happens ?
Do you give the car back and that's it?
Apologies I have never done a PCP
I'm on my first PCP so no expert but after 4 years you have the option to simply hand it back and walk away, take on a new deal on a another car or get your own finance to pay off the balloon payment if you want to keep it. Some PCP deals come with no or little deposit as you've effectively spent your original deposit hence why some people save up over the term of the PCP to put towards a deposit on the next one. It keeps the monthlies down. Do you give the car back and that's it?
Apologies I have never done a PCP
My ex has been using PCP for years and she simply hands her car over after a couple of years, picks something new and drives off. She always keeps similar payments and £0 deposit. Handy way to change cars if you get bored easily.
I think the issue with the M2 (having driven 2) is that the outside is stunning, the inside is a 2 series.
I still want one (have an E92 M3), but going to wait until the M2 CS comes out and hope its got the M4 seats in it, plus a few other special touches rather than just M2 embossed in seat and blue stitching.
I still want one (have an E92 M3), but going to wait until the M2 CS comes out and hope its got the M4 seats in it, plus a few other special touches rather than just M2 embossed in seat and blue stitching.
I sat in my E46 M3 then whilst waiting at dealership sat in a M4, M3, M2, M140i Series.
The M2 was the only M car that didn't feel special the moment I sat in it. It felt closest to the M140i although the seats were a little more supportive.
But they felt very different from the M3 and M4 seats , and sitting in these cars felt special.
Before I got my 5year old 335i with N54 engine in 2014, I drove several with the N55 and a M135i and although I'm not clever enough to describe it in technical terms, something felt better with the N54, sharper in response, angrier.
I then read it was preferred by BMW for tuning which was why it went in the 1M and the US only 335is and the Z4.
I can understand the attraction to a M2 CS version.
The M2 was the only M car that didn't feel special the moment I sat in it. It felt closest to the M140i although the seats were a little more supportive.
But they felt very different from the M3 and M4 seats , and sitting in these cars felt special.
Before I got my 5year old 335i with N54 engine in 2014, I drove several with the N55 and a M135i and although I'm not clever enough to describe it in technical terms, something felt better with the N54, sharper in response, angrier.
I then read it was preferred by BMW for tuning which was why it went in the 1M and the US only 335is and the Z4.
I can understand the attraction to a M2 CS version.
Completed tne paperwork on my new M2 today. The recent deals and contributions from BMW GB were enough to persuade me not to wait for the Competition.
When I first drove the M2 in 2016 I was initially disappointed. Had the chance to drive it again more recently and it impressed me more.
I'll leave my deposit on the Competition/CS for now, will see what happens. LCI sorted out the main visual issues I had, i.e. rear lights and interior (except seats). M2 is still a great car and enough for me (for now).
When I first drove the M2 in 2016 I was initially disappointed. Had the chance to drive it again more recently and it impressed me more.
I'll leave my deposit on the Competition/CS for now, will see what happens. LCI sorted out the main visual issues I had, i.e. rear lights and interior (except seats). M2 is still a great car and enough for me (for now).
Edited by as7920 on Tuesday 30th January 20:39
woogie said:
cheers so basically you are renting it for 4 years for 26 grand. A lot of money as you give it back and don't own a car.
pros and cons I suppose
Strictly speaking PCP is personal contract purchase as opposed to PCH which is personal contract hire.pros and cons I suppose
With PCP you have a deposit that can vary but with BMW cannot be greater than 30% of the purchase price. Then you have monthly repayments for whatever term you have agreed. The car has a GFV or guaranteed future value that is set at the beginning of the agreement. At the end of the agreement you can hand the car back or purchase it for the GFV. If the GFV is less than the car is worth then as well as buying it, you can roll that positive equity into another PCP.
With PCH you essentially hire the car with payments as above but are not allowed to buy the car at the end of the agreement. There is no agreed GFV at the beginning of the agreement. When I had a BMW PCH I was offered the opportunity for a family member to buy the vehicle at a price that BMW set just before then end of the agreement.
Currently have a December 2016 (66) M240i with 4000 miles. Amazing car in A1 condition
I've tried to Px (PCP) deal with 3 or 4 dealers all offering very poor Px's
Must have queues of people buying BMW's at the moment to offer such shocking deals.
Not used to this as I've owned load's of Lotus, Porsche etc
Boggy
Currently have a December 2016 (66) M240i with 4000 miles. Amazing car in A1 condition
I've tried to Px (PCP) deal with 3 or 4 dealers all offering very poor Px's
Must have queues of people buying BMW's at the moment to offer such shocking deals.
Not used to this as I've owned load's of Lotus, Porsche etc
Boggy
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