Discussion
I normally cash out my cars, recently had an S5 on lease for two years. I've seen a well specced M5 for sale at Sytner Coventry, up for £58k.
I have no idea what a good deal on PCP would be for this...say I was to put £5k down, what kind of monthlies would be a good deal over 4 years?
Apologies if I haven't supplied enough info.
I have no idea what a good deal on PCP would be for this...say I was to put £5k down, what kind of monthlies would be a good deal over 4 years?
Apologies if I haven't supplied enough info.
msdes123 said:
Given BMW finance has been my super best friend for the last 10 years here’s my thoughts:
If you’re going into a BMW dealer looking for an approved used M5 at around £58K and you’re going to be relying on their approved used 10.9% APR rate prepare to defend your stance against the onslaught of a hard sell to make you commit to a new car order because the monthly repayments will I suspect work out at very similar with the “dealer discounts” and new car APR rate. The whole point of the 10.9% APR on 1-2 yr old cars is to make the payments on a new car seem the better deal for you. It’s a stacked corrupt system in my view whose sole purpose is to push new car sales, unless you are buying outright or come with your own 3rd party finance arranged elsewhere be careful you don’t walk away with a new order build sheet! Even though I know this they still get me every time! Just before lockdown I was making some early enquiries on a possible M5 purchase but having previously bought an M6GCP from the dealer in the past they were very keen to simply push the fact that with current deals as they are the monthlies on an M8 GCP would be very similar and wouldn’t I rather etc. etc.
Having said that I did notice an official 2.9% BMW finance offer on approved used 7 & 8 series between 6-18m old expiring end of June. It’s not very prominent on their website but it is there. That equates to some very tempting figures on a few 18m old M850i’s that are sitting in the approved used network that have no doubt already taken a 40k or so hit on their original list price, granted I’m sure they were heavily discounted. In the end the rear space in the coupe is too compromised for me but I was tempted, with 5-6k down the monthly’s weren’t too far from what I was paying out on an M140i a while back.
Whatever you decide, new or approved, I hope it all works out buddy and you get a great car with a deal you were happy with but a word of advice; don’t post deal specifics on hear unless you’re happy to have your new car purchase buzz taken down by someone who will always come on and say something about how they never have to use finance and only buy the car outright in full or how that was a bad deal or how you could have got a much better deal and didn’t push them hard enough like I did, or that the deals last year or in 12m were or will be so much better etc... I never understand why people come on and post such things when a guy is just obviously happy to share the elation of his new M car purchase. If you can’t be positive in a post for him just keep quiet surely.
Sound advice! Thanks dude! May check out M850i offers!If you’re going into a BMW dealer looking for an approved used M5 at around £58K and you’re going to be relying on their approved used 10.9% APR rate prepare to defend your stance against the onslaught of a hard sell to make you commit to a new car order because the monthly repayments will I suspect work out at very similar with the “dealer discounts” and new car APR rate. The whole point of the 10.9% APR on 1-2 yr old cars is to make the payments on a new car seem the better deal for you. It’s a stacked corrupt system in my view whose sole purpose is to push new car sales, unless you are buying outright or come with your own 3rd party finance arranged elsewhere be careful you don’t walk away with a new order build sheet! Even though I know this they still get me every time! Just before lockdown I was making some early enquiries on a possible M5 purchase but having previously bought an M6GCP from the dealer in the past they were very keen to simply push the fact that with current deals as they are the monthlies on an M8 GCP would be very similar and wouldn’t I rather etc. etc.
Having said that I did notice an official 2.9% BMW finance offer on approved used 7 & 8 series between 6-18m old expiring end of June. It’s not very prominent on their website but it is there. That equates to some very tempting figures on a few 18m old M850i’s that are sitting in the approved used network that have no doubt already taken a 40k or so hit on their original list price, granted I’m sure they were heavily discounted. In the end the rear space in the coupe is too compromised for me but I was tempted, with 5-6k down the monthly’s weren’t too far from what I was paying out on an M140i a while back.
Whatever you decide, new or approved, I hope it all works out buddy and you get a great car with a deal you were happy with but a word of advice; don’t post deal specifics on hear unless you’re happy to have your new car purchase buzz taken down by someone who will always come on and say something about how they never have to use finance and only buy the car outright in full or how that was a bad deal or how you could have got a much better deal and didn’t push them hard enough like I did, or that the deals last year or in 12m were or will be so much better etc... I never understand why people come on and post such things when a guy is just obviously happy to share the elation of his new M car purchase. If you can’t be positive in a post for him just keep quiet surely.
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