[roshambo]

Oh btw, if you want flappy paddles for the auto, its £165 for the sports auto option. Make sure you add that to your list so you don't regret it afterwards

[Palexr]

Just a question about the excess mileage. Is it staggered? ie for the first 10% excess it is x ppm, then it goes up to xx ppm between 111% and 125% and up again for anything over? Something to look out for.

[roshambo]

Originally Posted by Palexr

Just a question about the excess mileage. Is it staggered? ie for the first 10% excess it is x ppm, then it goes up to xx ppm between 111% and 125% and up again for anything over? Something to look out for.

Mine is not staggered but definitely something to look out for in the contract.

"On termination of this Agreement, an excess mileage charge of 9.840 pence for each mile travelled by the Vehicle in excess of the Contract Mileage of 20000 (or if applicable the Pro Rata Contract Mileage) during the Contract Term is payable by the Hirer (see Clause 2.1.7)."

[davyk31]

Originally Posted by roshambo

Not necessarily. There are get-out clauses with leases, commonly paying half of the monthlies up til end of term.

That isn't a get out clause, that's a buy out. Not sure too many people would want to give up the car but still have to pay half the money! With PCP there is a get out right from early on with no financial penalty. Over the term of 2 or 3 years things can change and thus the flexibility may be welcome.

[teaston]

Originally Posted by roshambo

Oh btw, if you want flappy paddles for the auto, its £165 for the sports auto option. Make sure you add that to your list so you don't regret it afterwards

30d's come with sports auto as standard.

[roshambo]

Originally Posted by davyk31

With PCP there is a get out right from early on with no financial penalty. Over the term of 2 or 3 years things can change and thus the flexibility may be welcome.

I stand corrected. But do not agree "no financial penalty". Negative equity is a position you'd likely to find yourself in but I suppose it depends entirely on how you plan to get rid of the car i.e private sale could nullify that. It's all if's and but's to some degree and no scenario is the same.

[creepy coupe]

PCP looks expensive.

[roshambo]

Originally Posted by teaston

30d's come with sports auto as standard.

Jammy. Why did 435i's not get it standard? Discrimination!

[nordberg]

Originally Posted by davyk31

With PCP there is a get out right from early on with no financial penalty. Over the term of 2 or 3 years things can change and thus the flexibility may be welcome.

I'm not sure what you're referring to here? What is the get out?

[davyk31]

The get out is that you can sell your PCP car at any time and settle the finance outstanding. That will depend a lot on your initial deposit and hence why I always advocate a decent deposit so that neg equity isn't a problem early on. Even with some neg equity if your deposit was low the cost to get out of a PCP early ought to be less than having to pay 50% of remaining rentals for your lease car. you also have the stigma of having broken the leasing financial agreement whereas ending a PCP is simply that, you have just settled and ended the agreement.

[nordberg]

Originally Posted by davyk31

The get out is that you can sell your PCP car at any time and settle the finance outstanding. That will depend a lot on your initial deposit and hence why I always advocate a decent deposit so that neg equity isn't a problem early on. Even with some neg equity if your deposit was low the cost to get out of a PCP early ought to be less than having to pay 50% of remaining rentals for your lease car. you also have the stigma of having broken the leasing financial agreement whereas ending a PCP is simply that, you have just settled and ended the agreement.

OK, yeh selling is an obvious "get out" if you want to look at it that way. I thought you'd discovered some loophole the rest of us had missed!

[davyk31]

Nope there is no magic answer but the option is there to sell and settle up. With a decent deposit and a private sale you can pretty much get out whenever you wish. Problem comes when people bring in neg equity and put down no deposit for the next car, they then have to wait a while but even in this scenario they are freer than with a lease as the option is always there to sell up and pay the balance.

The solution for one person will rarely be the solution for all.

[davyk31]

The other "get out" option of course is a gallon of petrol, a match and GAP insurance lol.

[leon1984]

Originally Posted by teaston

30d's come with sports auto as standard.

literally just had a heart attack thinking my 430d was coming as auto only and no paddles.... and breath!!!

[nordberg]

Originally Posted by leon1984

literally just had a heart attack thinking my 430d was coming as auto only and no paddles.... and breath!!!

Paddles standard, breath is an extra I believe.

[StraightSix-d]

Originally Posted by nordberg

Most lease deals will allow you to purchase at the end and sometimes at very competetive prices....

Does this happen at the end or can you discuss it beforehand? I'm just thinking that if the car's specified exactly as I want it, it may be something I'm reluctant to get rid of.. Do you know of any instances when people were offered the option to purchase?

[nordberg]

Originally Posted by StraightSix-d

Does this happen at the end or can you discuss it beforehand? I'm just thinking that if the car's specified exactly as I want it, it may be something I'm reluctant to get rid of.. Do you know of any instances when people were offered the option to purchase?

I've had 3 cars on lease and I enquired about purchasing all if them at the end of my lease. Mercedes were very keen to sell and offered a really keen deal. The other two financers were less spectacular but neither were out and out expensive.

Pretty sure you'd need to wait until the end if your contract though...

[StraightSix-d]

Originally Posted by roshambo

My lease is with Arval and excess is 9.84ppm (just checked this) so cheaper than PCP

The difference there between 10k mpa and 12k mpa is only effectively £196.80/12=£16.40 more per month.

Are you going to try leasing through BMW contract hire? Worth going to them with the numbers you want and haggle them down on excess mileage fee and monthly fee. Its month end, they want your business just like the retail sales chaps! If you could get an agreement for 12k mpa, 6+35, your chosen spec on a new build, excess 12ppm, £460/month (inc VAT), would you snap their hands off?

I noticed you went luxury instead of M Sport? Was there a reason for that? Just wondering as most choose M Sport for the more aggressive look

I hadn't contacted BMW contract hire, assuming that they'd be more expensive than large lease companies. But I'll do so with your idea.

I went for the Luxury purely on the basis of our crappy roads. From what I've read on here and on reviews, the Luxury version seems to handle well enough....? [I hope!]

[StraightSix-d]

Originally Posted by nordberg

I've had 3 cars on lease and I enquired about purchasing all if them at the end of my lease. Mercedes were very keen to sell and offered a really keen deal. The other two financers were less spectacular but neither were out and out expensive.

Pretty sure you'd need to wait until the end if your contract though...

Thanks!

[lethbridge]

Always purchased using BMW PCP but got a really good BMW PCH lease deal on my last car so went with it. Never again... I had a very poor experience at the end of the lease with BMWFS - you really notice that you are not really dealing with one BMW. It's a long story but it may help to put a good lease deal in context...

They won't quote for you to purchase/extend lease until it is too late is one of many issues - 60 days in advance of the end of contract when the kind of cars I buy take 90 days to build. So in my case I had to order my new car before I knew what my options really were. When the PCH guys did quote the purchase price was poor (fine, didn't want to purchase anyway) but they quoted to rent for another 12 months and price was stupidly cheap - £200 instead of the £924 I was paying (535d GT M Sport with all the toys on 30k/annum). I went back to the dealer and threatened to cancel and go with the rental unless they could lop another big chunk off my new car - which they did. So that was good news but it was a crazy way to do business.

The issues really came when it came to the delivery of my new car being around a month after my lease expired (all outside of my control and down to BMW) - no co-ordination between dealer and BMWFS - you have to sort it all yourself. You can imagine I didn't feel like paying £924 for the extra month beyond the end of my contract when they'd just quoted me £200/month AND my car was going back to them with 20k less miles than contracted (no option to do anything about a change in circumstances on a BMW lease) - so a lengthy battle ensued where they simply would not communicate with me - I thought they'd done the decent thing and just let me have the car for the last month and then they then hit me with a large bill after I returned the car. I had returned my old car to the dealer who gave me little notice that my new car was ready and to cap it all BMWFS charged me for the time my old car was sat at the dealer as they couldn't get around to collecting it (despite the dealer submitting the paperwork on the day I return it). In the end BMW FS halved my final payment so financially I actually did quite well out of this sorry tale as I stuck to my guns but it certainly wasn't a process I'd recommend to anyone.

Sorry for the lengthy post - but hopefully it will help your decision !!

[zooberoo]

Originally Posted by StraightSix-d

It seems that if you reduce the initial payment, you pay more on the monthly amount. There's no escape

True, but the interest is calculated and applied before the initial payment. So, you are just paying a proportion of your monthly payment in advance. It has no effect on the interest charge at all.

It's your call of course but if that was my cash I'd rather it was earning interest for me rather than BMW - £3k at 3% over 3 years is about £280.

[StraightSix-d]

Originally Posted by zooberoo

True, but the interest is calculated and applied before the initial payment. So, you are just paying a proportion of your monthly payment in advance. It has no effect on the interest charge at all.

It's your call of course but if that was my cash I'd rather it was earning interest for me rather than BMW - £3k at 3% over 3 years is about £280.

You're correct, of course. Whether you pay it up front or during the course of the lease, the total outlay is the same. I guess it's a psychological thing of lower monthly payments vs the risk of losing the entire downpayment amount in the event of a vehicle loss.