BMX X5 on PCP...
Discussion
Hi all, looking to see if this is a good deal...
X5 M Sport 2019
Alpine White
Privacy Glass
Cash price £53779
My trade in £8100
My cash deposit £2000
Dealer cash deposit £2000
Balance of cash price / amount of credit £41679
Interest £3872
Total charge for credit £45552
Balance payable £57652
Apr 2.9% from BMW Finance
10,000 miles per year
47 payments of £421
Recently came back saying £410
Balloon payment £25740
Is that a good deal?
I’ll be back to square one with no deposit in 4 years though.
X5 M Sport 2019
Alpine White
Privacy Glass
Cash price £53779
My trade in £8100
My cash deposit £2000
Dealer cash deposit £2000
Balance of cash price / amount of credit £41679
Interest £3872
Total charge for credit £45552
Balance payable £57652
Apr 2.9% from BMW Finance
10,000 miles per year
47 payments of £421
Recently came back saying £410
Balloon payment £25740
Is that a good deal?
I’ll be back to square one with no deposit in 4 years though.
The dealer contribution on offer here is £8940;
https://www.stratstone.com/new-cars/bmw/x5-xdrive3...
Perhaps you can use this as a bargaining chip
https://www.stratstone.com/new-cars/bmw/x5-xdrive3...
Perhaps you can use this as a bargaining chip
Is that a new car?
New shape X5 or used last of the old shape?
Are you happy to spend £30,000 to drive round in an X5 for 4 years?
That is the true cost.
Only you can decide that.
One thing that is becoming clear, the petrol models are becoming the more desirable models as far as residuals are concerned.
You can contract hire a new 40i M-Sport for £26k over 4 years....
https://leasing.com/independent-brokers/leasecar/b...
Where as the 30d will cost you roughly £5k more.....
https://leasing.com/independent-brokers/car-leasin...
Please note, that is 5000 miles a year, jumps up to £528 for the 40i and £590 for the 30d.
Seriously, when you are spending £26k on hiring, £2000 on insurance, £1000 on tyres, £1500 on servicing, does it really matter if you're spending £40 on diesel or £46 on petrol each week?
The difference in residuals, and therfore lease/pcp costs make the petrol a cheaper car.
I think people are at last starting to realise this.
I'm not bashing the diesels, but I that 40i is glorious.
New shape X5 or used last of the old shape?
Are you happy to spend £30,000 to drive round in an X5 for 4 years?
That is the true cost.
Only you can decide that.
One thing that is becoming clear, the petrol models are becoming the more desirable models as far as residuals are concerned.
You can contract hire a new 40i M-Sport for £26k over 4 years....
https://leasing.com/independent-brokers/leasecar/b...
Where as the 30d will cost you roughly £5k more.....
https://leasing.com/independent-brokers/car-leasin...
Please note, that is 5000 miles a year, jumps up to £528 for the 40i and £590 for the 30d.
Seriously, when you are spending £26k on hiring, £2000 on insurance, £1000 on tyres, £1500 on servicing, does it really matter if you're spending £40 on diesel or £46 on petrol each week?
The difference in residuals, and therfore lease/pcp costs make the petrol a cheaper car.
I think people are at last starting to realise this.
I'm not bashing the diesels, but I that 40i is glorious.
APR is good. Payments are low. Yes you wont get a single penny at the end, but that how this works. Go in eyes open and you know where you stand.
BUT, I wouldn't be giving them 2k and a Px. I wouldn't even be giving them the 2k. They should be around the 5.5 - 6k dealer contribution at a minimum. Unless this is povvo spec, they have no problem shifting them. You will get much more discount from a GLE in a big dealer group.
Ignore those who moan about spending X over 4 years for nothing to show in return.
BUT, I wouldn't be giving them 2k and a Px. I wouldn't even be giving them the 2k. They should be around the 5.5 - 6k dealer contribution at a minimum. Unless this is povvo spec, they have no problem shifting them. You will get much more discount from a GLE in a big dealer group.
Ignore those who moan about spending X over 4 years for nothing to show in return.
They should be offering you the £8k dealer contribution too.
That would keep your monthlies the same, as you could then have the trade in value back as cash, so just sticking in £2k.
Leave you're £8k in a bank and at the end of the 4 years it will have gained some interest too. You will have roughly £8150.
But at least you still have your £8k to start again with.
Don't let them talk you into put that £8k in, you won't see it back at the end, big large diesels are already struggling. The new BIK taxes coming in next year will kill them off even more, in 4 years time I reckon you will be glad of that £28k buy back, you will be throwing the keys at them.
That would keep your monthlies the same, as you could then have the trade in value back as cash, so just sticking in £2k.
Leave you're £8k in a bank and at the end of the 4 years it will have gained some interest too. You will have roughly £8150.
But at least you still have your £8k to start again with.
Don't let them talk you into put that £8k in, you won't see it back at the end, big large diesels are already struggling. The new BIK taxes coming in next year will kill them off even more, in 4 years time I reckon you will be glad of that £28k buy back, you will be throwing the keys at them.
Apr is ok, but contribution sounds low on such a high value car. Get on carwow and make a few comparisons between dealers - also look at pre-reg stock and push hard. Deals to be done...
As for the PCP, you always get the usual crowd complaining “do you want to pay X and not own it”...
But I think they forget about the depreciation if you are to buy it new with cash? It might cost £30k in monthly payments, but buying cash will leave you with a similar hole in 3/4yrs time... plus do you have >£50k cash and if so is it wise to stick it on your drive? If you don’t have the cash you aren’t going to borrow it any cheaper than 2.9% either....
I’d sack off that deposit too? You want to put in as little as poss if you have a decent APR. Can you sell the px quickly for more than the px price??
I’d be going on carwow, getting a comparison of deals between dealers and then propose the best offer to your local dealer. Then buy via PCP and you have no worries for 3/4yrs - as another poster has said we have no idea where the car market will be in that time what with our countries ongoing trade issues and electrification.
I purchased a new X5 in 2018 for the Mrs and kids. One of our locals said best discount was 5% with 0% APR. A carwow later and dealers elsewhere went as far as 12% without negotiation. I sent the quote to our local and told them they’d have an order within a couple hours of beating that deal on a good spec pre-reg car. The chap found a new car in group stock and 4 days later we picked it up.
As for the PCP, you always get the usual crowd complaining “do you want to pay X and not own it”...
But I think they forget about the depreciation if you are to buy it new with cash? It might cost £30k in monthly payments, but buying cash will leave you with a similar hole in 3/4yrs time... plus do you have >£50k cash and if so is it wise to stick it on your drive? If you don’t have the cash you aren’t going to borrow it any cheaper than 2.9% either....
I’d sack off that deposit too? You want to put in as little as poss if you have a decent APR. Can you sell the px quickly for more than the px price??
I’d be going on carwow, getting a comparison of deals between dealers and then propose the best offer to your local dealer. Then buy via PCP and you have no worries for 3/4yrs - as another poster has said we have no idea where the car market will be in that time what with our countries ongoing trade issues and electrification.
I purchased a new X5 in 2018 for the Mrs and kids. One of our locals said best discount was 5% with 0% APR. A carwow later and dealers elsewhere went as far as 12% without negotiation. I sent the quote to our local and told them they’d have an order within a couple hours of beating that deal on a good spec pre-reg car. The chap found a new car in group stock and 4 days later we picked it up.
I've been looking for a new SUV for our family and looked at the X5, its a very nice car to drive. Rybrook appear to have a good deal https://www.rybrook.co.uk/bmw/offers/bmw-x5-xdrive...
We ended up ordering an Audi Q7 in the end as for me it was cheaper on PCP as residuals tend to be a little better. If you're tempted by a Q7 have a loot at Drive the Deal, they have some great discounts.
Happy car hunting!
We ended up ordering an Audi Q7 in the end as for me it was cheaper on PCP as residuals tend to be a little better. If you're tempted by a Q7 have a loot at Drive the Deal, they have some great discounts.
Happy car hunting!
I was offered one last month for £550 down and £550 a month from Sytner.
X5 M Sport 30d
Tech Pack
M Sport Plus Pack
Pan roof
22" wheels
Metallic Paint.
When I said no they came back and offered me a car with the visibility pack thrown in for free! I still said no as the wife wanted a Range Rover.
There are mega deals to be had. Look hard.
X5 M Sport 30d
Tech Pack
M Sport Plus Pack
Pan roof
22" wheels
Metallic Paint.
When I said no they came back and offered me a car with the visibility pack thrown in for free! I still said no as the wife wanted a Range Rover.
There are mega deals to be had. Look hard.
russy01 said:
Apr is ok, but contribution sounds low on such a high value car. Get on carwow and make a few comparisons between dealers - also look at pre-reg stock and push hard. Deals to be done...
As for the PCP, you always get the usual crowd complaining “do you want to pay X and not own it”... But I think they forget about the depreciation if you are to buy it new with cash? It might cost £30k in monthly payments, but buying cash will leave you with a similar hole in 3/4yrs time... plus do you have >£50k cash and if so is it wise to stick it on your drive? If you don’t have the cash you aren’t going to borrow it any cheaper than 2.9% either...
I’d sack off that deposit too? You want to put in as little as poss if you have a decent APR. Can you sell the px quickly for more than the px price??
I’d be going on carwow, getting a comparison of deals between dealers and then propose the best offer to your local dealer. Then buy via PCP and you have no worries for 3/4yrs - as another poster has said we have no idea where the car market will be in that time what with our countries ongoing trade issues and electrification.
I purchased a new X5 in 2018 for the Mrs and kids. One of our locals said best discount was 5% with 0% APR. A carwow later and dealers elsewhere went as far as 12% without negotiation. I sent the quote to our local and told them they’d have an order within a couple hours of beating that deal on a good spec pre-reg car. The chap found a new car in group stock and 4 days later we picked it up.
while that is true, the fact is after a 3-4 year PCP term you still have nothing to show for it at the end.As for the PCP, you always get the usual crowd complaining “do you want to pay X and not own it”... But I think they forget about the depreciation if you are to buy it new with cash? It might cost £30k in monthly payments, but buying cash will leave you with a similar hole in 3/4yrs time... plus do you have >£50k cash and if so is it wise to stick it on your drive? If you don’t have the cash you aren’t going to borrow it any cheaper than 2.9% either...
I’d sack off that deposit too? You want to put in as little as poss if you have a decent APR. Can you sell the px quickly for more than the px price??
I’d be going on carwow, getting a comparison of deals between dealers and then propose the best offer to your local dealer. Then buy via PCP and you have no worries for 3/4yrs - as another poster has said we have no idea where the car market will be in that time what with our countries ongoing trade issues and electrification.
I purchased a new X5 in 2018 for the Mrs and kids. One of our locals said best discount was 5% with 0% APR. A carwow later and dealers elsewhere went as far as 12% without negotiation. I sent the quote to our local and told them they’d have an order within a couple hours of beating that deal on a good spec pre-reg car. The chap found a new car in group stock and 4 days later we picked it up.
A good family friend of mine sold his IT company for over £20 million last year and bought his first ever brand new car with cash speccing himself - an Audi R8 V10 Plus. Prior to that, despite taking a salary of £180k per year he would always buy cars with a low-interest bank loan that were 2 years old and approved used with warranty, run for 2-3 years and repeat. Things like Merc SL63 AMG, Audi RS6, X5M.
PCP monthlies or leasing at c£800 per month would've been like water-off-a-duck's back to him, but he never found it the most cost-effective solution.
Edited by A44RON on Wednesday 30th October 03:30
jon-yprpe said:
Looking on BMW approved there are some pre-ref X5s with a few option packs for the £50k ish mark. Be interesting to see if the 2.9% APR applies...
I think even pre-reg cars start off with the 12.4% APR! There was a link to an M340i at Sytner in Sheffield and despite being classed as pre-reg, all of the finance examples given were based around 12.4%. Which was a lot on a £50k car.A44RON said:
while that is true, the fact is after a 3-4 year PCP term you still have nothing to show for it at the end.
A good family friend of mine sold his IT company for over £20 million last year and bought his first ever brand new car with cash speccing himself - an Audi R8 V10 Plus. Prior to that, despite taking a salary of £180k per year he would always buy cars with a low-interest bank loan that were 2 years old and approved used with warranty, run for 2-3 years and repeat. Things like Merc SL63 AMG, Audi RS6, X5M.
PCP monthlies or leasing at c£800 per month would've been like water-off-a-duck's back to him, but he never found it the most cost-effective solution.
A44RON out of interest how many miles a year does your friend do.A good family friend of mine sold his IT company for over £20 million last year and bought his first ever brand new car with cash speccing himself - an Audi R8 V10 Plus. Prior to that, despite taking a salary of £180k per year he would always buy cars with a low-interest bank loan that were 2 years old and approved used with warranty, run for 2-3 years and repeat. Things like Merc SL63 AMG, Audi RS6, X5M.
PCP monthlies or leasing at c£800 per month would've been like water-off-a-duck's back to him, but he never found it the most cost-effective solution.
Edited by A44RON on Wednesday 30th October 03:30
Court_S said:
jon-yprpe said:
Looking on BMW approved there are some pre-ref X5s with a few option packs for the £50k ish mark. Be interesting to see if the 2.9% APR applies...
I think even pre-reg cars start off with the 12.4% APR! There was a link to an M340i at Sytner in Sheffield and despite being classed as pre-reg, all of the finance examples given were based around 12.4%. Which was a lot on a £50k car.jon-yprpe said:
Court_S said:
jon-yprpe said:
Looking on BMW approved there are some pre-ref X5s with a few option packs for the £50k ish mark. Be interesting to see if the 2.9% APR applies...
I think even pre-reg cars start off with the 12.4% APR! There was a link to an M340i at Sytner in Sheffield and despite being classed as pre-reg, all of the finance examples given were based around 12.4%. Which was a lot on a £50k car.
king graft that, proper. smashy said:
A44RON said:
while that is true, the fact is after a 3-4 year PCP term you still have nothing to show for it at the end.
A good family friend of mine sold his IT company for over £20 million last year and bought his first ever brand new car with cash speccing himself - an Audi R8 V10 Plus. Prior to that, despite taking a salary of £180k per year he would always buy cars with a low-interest bank loan that were 2 years old and approved used with warranty, run for 2-3 years and repeat. Things like Merc SL63 AMG, Audi RS6, X5M.
PCP monthlies or leasing at c£800 per month would've been like water-off-a-duck's back to him, but he never found it the most cost-effective solution.
A44RON out of interest how many miles a year does your friend do.A good family friend of mine sold his IT company for over £20 million last year and bought his first ever brand new car with cash speccing himself - an Audi R8 V10 Plus. Prior to that, despite taking a salary of £180k per year he would always buy cars with a low-interest bank loan that were 2 years old and approved used with warranty, run for 2-3 years and repeat. Things like Merc SL63 AMG, Audi RS6, X5M.
PCP monthlies or leasing at c£800 per month would've been like water-off-a-duck's back to him, but he never found it the most cost-effective solution.
Edited by A44RON on Wednesday 30th October 03:30
PrancingHorses said:
jon-yprpe said:
Court_S said:
jon-yprpe said:
Looking on BMW approved there are some pre-ref X5s with a few option packs for the £50k ish mark. Be interesting to see if the 2.9% APR applies...
I think even pre-reg cars start off with the 12.4% APR! There was a link to an M340i at Sytner in Sheffield and despite being classed as pre-reg, all of the finance examples given were based around 12.4%. Which was a lot on a £50k car.jon-yprpe said:
Court_S said:
jon-yprpe said:
Looking on BMW approved there are some pre-ref X5s with a few option packs for the £50k ish mark. Be interesting to see if the 2.9% APR applies...
I think even pre-reg cars start off with the 12.4% APR! There was a link to an M340i at Sytner in Sheffield and despite being classed as pre-reg, all of the finance examples given were based around 12.4%. Which was a lot on a £50k car.22.5% - but it was pre-reg and on 19 plate.
But in the event I canned it as quite rightly pointed out on here paying 8.9% APR when base rates are 75bps is mad.
Also the dealer had back-ended it quite heavily so I can’t imagine there would have been any equity. Not that it matters too much as I tend to change cars regularly.
I’ll investigate one of the 2.9% deals on a new one.
But in the event I canned it as quite rightly pointed out on here paying 8.9% APR when base rates are 75bps is mad.
Also the dealer had back-ended it quite heavily so I can’t imagine there would have been any equity. Not that it matters too much as I tend to change cars regularly.
I’ll investigate one of the 2.9% deals on a new one.
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