[MRPoisson]

Interestingly I've been looking at a 118i M Sport and an A3 1.4 S Line for the better half. The monthlies are working out much less on the Audi despite a slightly higher RRP.

The GFV after 4 years is £11,200 compared to a poor £8500 for the Bimmer!

[Ian335xd]

Originally Posted by MRPoisson

Interestingly I've been looking at a 118i M Sport and an A3 1.4 S Line for the better half. The monthlies are working out much less on the Audi despite a slightly higher RRP.

The GFV after 4 years is £11,200 compared to a poor £8500 for the Bimmer!

I have justed looked into the values of 2010 cars the BMW is worth £8200 and the the Audi £8500 so I think the BMW valuation is more realistic.

[Ian335xd]

Originally Posted by Chris Peacock

Agree 100%, your £6k can buy you a lot of fun without any further monthly payments.

Absolutely no way I could pay £300pm for an entry level BMW with a low powered engine.

If your unhappy with the power of the 116i just remap it over 200 BHP is easily attained! as is actually 2litre and turbo charged.

[Chompers]

Originally Posted by Ian335xd

If your unhappy with the power of the 116i just remap it over 200 BHP is easily attained! as is actually 2litre and turbo charged.

I think you'll find it's a 1.6 turbo (from the Mini), which I'm sure can be remapped

[Andy30D]

I don't think power is an issue here? Correct me if I am wrong!

I've always just brought a more powerful car than re map one etc, don't see the point when it's already done in the next model up.

If you like BMW's go for it, but an m sport would give you better trim and if you look at other models you'll be surprised you'll get similar monthlies

Don't forget you're paying the different between sale value and gmfv, so if the sale value increases but so does the gmfv, your monthlies don't differ by hat much

[MarkG_M5Comp]

I've been looking to replace my wife's 116i pre-lci with a 118i auto. Not sure if it helps but here's the deal. I've walked for now - not impressed with it.







The £24,300 includes service pack (£500 ish) so a reasonable discount for a new model. Still £367 for a 118i though. A 135i with same options came out at £467.

[Andy30D]

For what the car is, it's not worth it in my opinion. Other makes have far better for that price.

I had a 125d m sport and was paying £303 with £2k down. Had fair few option on it too

[Chompers]

I think people are missing the point by some margin. The OP wants/needs sell the 435i to save for/buy a house. This change is more centred around money than the car. Yes you can probably get a better car elsewhere for £300 pm but with the 1er deal he walks away with £7k cash and a new 1er with out any cash outlay. If he buys away from BMW he will get £6k cash and will then have to put some of that down as deposit for what ever he goes for. That's bound to be around the £1.5/2k mark. So he could be up to £3k down. Sometimes needs must. A few years down the line when the dust has settled he can revisit something akin to what he has had in the past.

[Lewis Mc]

Originally Posted by Chompers

I think people are missing the point by some margin. The OP wants/needs sell the 435i to save for/buy a house. This change is more centred around money than the car. Yes you can probably get a better car elsewhere for £300 pm but with the 1er deal he walks away with £7k cash and a new 1er with out any cash outlay. If he buys away from BMW he will get £6k cash and will then have to put some of that down as deposit for what ever he goes for. That's bound to be around the £1.5/2k mark. So he could be up to £3k down. Sometimes needs must. A few years down the line when the dust has settled he can revisit something akin to what he has had in the past.

That is bang on point. It's all about what I'm going to be getting back and the outlay, I see what people are saying and it's great advice but it requires me putting more money in to something else, I mean for 300 a month I have a more powerful car in the 435i but I won't see anything back from it ever

[ciscopete822]

You are now messing up with your credit score. First of all you are walking away from current deal. What ever reasoning behind that might have negative effect on your credit file. You are trying to get new deal which means multiple searches against your name.

When you are terminating deal after short period some lenders will flag it as there might be money-laundering or fraud possibility. That will have negative impact on credit score. Especially now when you are trying to get first house.

If you have to terminate deal then buy 2nd hand car. When financially stable again go crazy and get GTR.

[Chompers]

Originally Posted by ciscopete822

You are now messing up with your credit score. First of all you are walking away from current deal. What ever reasoning behind that might have negative effect on your credit file. You are trying to get new deal which means multiple searches against your name.

When you are terminating deal after short period some lenders will flag it as there might be money-laundering or fraud possibility. That will have negative impact on credit score. Especially now when you are trying to get first house.

If you have to terminate deal then buy 2nd hand car. When financially stable again go crazy and get GTR.

Utter $hite. OP is not terminating his agreement, he is settling it to purchase another vehicle. Completely different situation. "multiple searches against your name" wrong. The search, of which there is only 1 is done at the point of agreeing the deal, OP hasn't done this yet, and this is likely to be with a finance company he has a track record with. "there might be money-laundering or fraud possibility" more rubbish, he is p/x'ing his current car at a main dealer.

[Lewis Mc]

Just been to another bmw in Liverpool and they can't get anywhere near the deal being offered by the first bmw dealers, there 2.5k lower in cashback

[Chompers]

Originally Posted by Lewis Mc

Just been to another bmw in Liverpool and they can't get anywhere near the deal being offered by the first bmw dealers, there 2.5k lower in cashback

As Riaz stated some posts back, the deal you have is good, clearly helped by the fact the dealer has the car in stock and can have it register by Tuesday to count it in the months figures.

[ciscopete822]

There will be searches , loan , new insurance etc - people keep forgetting that. Credit scoring agency doesn't give a crap if you exchanging even with Pope or Clarkson himself. You have stopped and then you have started again. Each agency have a different scoring criteria so its up to them. I was trying to say that exchanging cars might be risky exercise just before purchasing first property. Plus 4 years PCP.. hmmm.. lender will do stress test to see if he can pay up if interest rate goes up.

[Chompers]

Originally Posted by ciscopete822

There will be searches , loan , new insurance etc - people keep forgetting that. Credit scoring agency doesn't give a crap if you exchanging even with Pope or Clarkson himself. You have stopped and then you have started again. Each agency have a different scoring criteria so its up to them. I was trying to say that exchanging cars might be risky exercise just before purchasing first property. Plus 4 years PCP.. hmmm.. lender will do stress test to see if he can pay up if interest rate goes up.

You are right about the stress test element. And yes interest rates will only go one way ^ The Op will have an opportunity to fix interest rates at a possible all time low and for a good few years. Insurance wise, the 1er will be less than the 435i so saving money and it is probably worth the OP paying for it out right to save on a search.

[ciscopete822]

Originally Posted by Chompers

You are right about the stress test element. And yes interest rates will only go one way ^ The Op will have an opportunity to fix interest rates at a possible all time low and for a good few years. Insurance wise, the 1er will be less than the 435i so saving money and it is probably worth the OP paying for it out right to save on a search.

Fair enough.

[m88jey]

Originally Posted by ciscopete822

There will be searches , loan , new insurance etc - people keep forgetting that. Credit scoring agency doesn't give a crap if you exchanging even with Pope or Clarkson himself. You have stopped and then you have started again. Each agency have a different scoring criteria so its up to them. I was trying to say that exchanging cars might be risky exercise just before purchasing first property. Plus 4 years PCP.. hmmm.. lender will do stress test to see if he can pay up if interest rate goes up.

+1

Comparison websites run searches on you even when retrieving quotes. Recommend the OP to have a clean sheet when applying for a mortgage.

[Ian335xd]

Originally Posted by Lewis Mc

Having said that am possibly going to be selling my car to downsize to a 1 series, I went after seeing the advert for a no deposit finance on one, so with 7k cash back from my 435i I'm then getting the deal in the attachment below, what you guys think? Seems alright deal to myself especially since I won't be putting a penny deposit down

I think this a cracking deal for you.Just go back and see if you can squeeze then for something else(eg service pack) to find out if that's the best they can do.

[Lewis Mc]

People people.... am not getting a house straight away am just getting a chunk back out of my car to continue with a deposit, I won't be buying a house for another year or so, so soft searches won't hinder me at all, otherwise I'd have 1000s of them from car insurance quotes

[Chompers]

Originally Posted by GUZLERGEFF

+1

Comparison websites run searches on you even when retrieving quotes. Recommend the OP to have a clean sheet when applying for a mortgage.

Look, this is all getting silly and the OP is going to be a wreck if this carries on.

Comparison sites run 'soft' checks that do not impact credit scores, they can only be seen by the individual on there own credit file and will show as id checks or admin checks. Lenders won't see these on a credit search. The only time something is recorded on a credit file is when you actually apply to borrow money.

[Chompers]

Originally Posted by Ian335xd

I think this a cracking deal for you.Just go back and see if you can squeeze then for something else(eg service pack) to find out if that's the best they can do.

What he said

[m88jey]

Originally Posted by Lewis Mc

People people.... am not getting a house straight away am just getting a chunk back out of my car to continue with a deposit, I won't be buying a house for another year or so, so soft searches won't hinder me at all, otherwise I'd have 1000s of them from car insurance quotes

Didn't realise you were not going to by a house for a year or so! In that case crack on!