BMW Finance

[Muzzer79]

Hi all

I am looking at opting out of my company car scheme and getting a 1 year old 5 series touring.

Contrary to common PH-wisdom, I will be buying the car on a PCP finance deal.

When one looks at the BMW website, the finance calculator shows a frankly ridiculous APR of some 12%. Surely this is negotiable in this current market.

They do low APR rates on new cars - some 3%, which I don't expect to be matched but what is a realistic expectation to go for here?

TIA

[Muzzer79]

Thanks for the replies all.

I'm fairly open to any kind of financial deal but I've always taken the view that my car allowance pays for the car (and interest on payments) as a direct offset of each other.

I'm not one of these types who sees it as extra salary and, besides, I have restrictions as to what I can drive (must be less than 3 years old, etc)

A few years back I had a Golf brand new on a PCP, which worked well, but looking for something more upmarket now.

Wills2 said:

Peter Vardy are offering a 520d M sport touring for £408 in and £408 per month 0% APR over 48 months

Do you have a link for this please?

[Muzzer79]

Ziplobb said:

why dont you get a bank loan - 3.9%APR is what i apid on the last one I had and you own it .

Up to £25k and a bank loan can be had for a low rate.

Over £25k then it's more like 6.5-7% from a bank

[Muzzer79]

Thanks for the info all

The 0% finance deal has now ended and they had limited stock, so I’ve not pursued

However, a 1 year old touring with all the toys can be had for under £30k so this takes me into personal loan at low APR rates territory. I’ll also own the car at the end, rather than paying a balloon

A £50k car with someone else taking a 40% hit in depreciation over the first year appeals quite highly and I intend to keep it for a good few years. 🙂