07-15-2014, 10:12 AM | #1 |
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PCP - is this a good deal on a new 330d M Sport ??
Hi All,
Close to signing the deal but now having second thoughts about PCP vs Lease, confused as to my total cost of motoring and what happens at the end of the pcp. 330D M Sport Pro Nav Service inclusive Active cruise control reversing camera electric mirrors heated front seats M Sport Plus pack Visibility pack £43,005 list price (minus discount £4117,50) £38,827 price £13,116.79 deposit (minus bmw deposit contribution £3,750) £9366,79 Deposit £385 per month (36 months, 20,0000 miles per year) GFV £15,188.63 My head feels like its going to explode trying to compare to leasing, buying 2nd hand etc etc. Surely at 4.9% APR and a discount of circa 8k its a good deal considering my high mileage and extras??? Any help appreciated. |
07-15-2014, 10:39 AM | #2 |
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Have you finalised the deal with your dealer?
As in any deposit put down? Any reason why a 3 year pcp and not 4 year? Do you plan to buy the car at end of the 3 year period? Either way with a pcp, that final sum needs paid if you want to buy it, or you can use towards new pcp - FV. Have you thought about adding HUD, as you have pro nav and acc, it's supposed to be really good with both options. Chow does this compare with drive the deal figure? |
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07-15-2014, 10:50 AM | #3 | |
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I'd want to change at 3 years and also its a shorter term for financing therefore less interest? Ideally I'd want to swap for a new one again. But I'm concerned that everyone says the lower the deposit the better when doing PCP. Also I don't know how it works at the end, will i have any equity in the car? Trust me I would love the HUD, but am at the very max of my budget- and wouldn't want to sacrifice any of my other options. Could save another £500 -£1,000 on drive the deal but prefer face to face. |
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07-15-2014, 10:52 AM | #4 |
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You're paying 10 grand in cash now for a car that you walk away from in 3 years time. Is PCP really the right way to go here? You're paying 23 grand over 3 years for the privilege of using the car, and should expect to walk away with nothing.
That's £650 a month including the deposit. It really depends on how long you're intending to keep it, and what else you could be doing with cash... I ended up doing a straight cash deal, but I intend to keep the car between 6 and 10 years (seriously). I would not be putting a 10k deposit down on a PCP deal, but that's just me. Others would argue that what I've done is crazy, but it depends on your circumstances and plans. |
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07-15-2014, 10:56 AM | #5 |
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personally I would put in as small a deposit as possible and keep the cash for other things!!!!!!!!!!!
unless of course you aim to keep the car forever after the agreement
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07-15-2014, 10:58 AM | #6 |
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I've got a very similar spec. 330dsdrive Msport plus, visibility pack, folding mirrors, heated front seats, pro nav, reversing camera, folding rear seats and headrest, 5years service inclusive list was about 43k got it for 35k plus they covered £1300 of £3300 negative equity of my previous car 8000 miles/year no deposit other then £500 loyalty discount £500/month. I think I had a pretty reasonable deal but it was a special sale event weekend when I ordered my car I think you should be able to squeeze out a little more.
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07-15-2014, 11:01 AM | #7 |
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Do you know that if you do it for 48 months you can cancel after 36 months with no penalty?
TRL told me that. Have you spoken to him for a quote? P.S. £9k deposit seems like a massive amount! TRL gave me this quote a few months ago: F30 330d M Sport Pro nav m sport plus pack Vis pack Heated fron seats Folding rear headrests 13k miles, 48 months, £1k deposit, £475pm |
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07-15-2014, 11:03 AM | #8 |
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I agree go for a small deposit and maybe go to the 4 years.. yes slightly more interest but in grand scheme of things not a great deal more... and u can still get in a new car after 3 years... lots of options with pcp.. where in a lease ur stuck with it for the full term.
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07-15-2014, 11:10 AM | #9 |
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What is the difference, or should i say benefit, between high deposit - low payments vs low deposit high payments?
As this is what the general consensus seems to be but I don't get why.. Lower monthly payments seem less of a burden to me. And I feel that when I sell my existing car that will cover the deposit and be done. Who is TRL? Overall, to buy a new F30 and keep it for 3 years is going to be a lot of money whichever way I choose to look at it, around 7k per year. But given my circumstance (high mileage) and discount of 8k, with finance at 4.9% APR I don't think I'm making a huge mistake vs nearly new or leasing ? |
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07-15-2014, 11:16 AM | #10 | |
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Make it plain to current one, that there is more to be had. Over 4 years would lower you monthly amount Personally, your deposit is rather bizarrely high. Even try the add in the HUD and you have a deal tact. Try a PM to TRL on here. I believe you can improve on what is on offer. |
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07-15-2014, 11:56 AM | #11 |
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You can get more discounts than are being offered to you right now as a pure cash buyer. It sounds like you're thinking this is a once in a lifetime deal that you can't walk away from: it isn't, there's better out there.
You can probably lease for similar figures per month, if not less... |
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07-15-2014, 12:01 PM | #12 | |
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Definitely worth asking him before you make any decisions. PM him, or email him tony.lewis@inchcape.co.uk |
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07-15-2014, 12:10 PM | #13 | |
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Even if the deal he offers is not for you. He will at least explain better than on here what deal likely suits you. Although I imagine with that you are after and numbers so far, similar monthly for much less deposit. |
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07-15-2014, 01:39 PM | #14 |
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Thanks for the help all. Messaged Tony and he will get someone to call me tomorrow. Have also approached another dealer.
It seems the discount i am getting currently is £7,869 And with drive the deal I can save £9,138 INCLUDING the head up display. So with that in mind (really want the head up display) I may have to go with drive the deal. Has anyone used them before to vouch? The only thing I'd miss out on is the BMW handover which I would have liked .. |
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07-15-2014, 01:46 PM | #15 |
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As already alluded to if you want the car for 3 years then you should sign up to a 4 year PCP and do a VT (voluntary termination). This is a contractual right which says you can hand back a car without penalty after half the total amount is paid. This works out on a 4 year PCP as 36months. Unless u want to change in less than 3 years this is the way to go as the monthlies will be lower on a 4 year deal.
At the end of the day you're buying a depreciating asset. Throwing a larger deposit in is just throwing money into a deal that could be making you a profit invested elsewhere. This is rarely a smart move. And you should be looking to get £10k off. It's a decent deal but not a great one. But better deals are always available. You have to decide on a price you're happy with and then go for it. Someone will always come back saying they got more discount. Good luck |
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07-15-2014, 01:47 PM | #16 | |
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Edited to add: All dealer finance options such as PCP/HP/lease are normally available when you order with DtD |
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07-15-2014, 02:01 PM | #17 | |
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Will you be doing pcp through DTD as well? |
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07-15-2014, 02:02 PM | #18 | |
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I'll see how tomorrow goes |
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07-15-2014, 02:09 PM | #20 |
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Not sure if I'm understanding you right but bear in mind that dtd will only get a commission. The deal is done with the dealer. They just act as a middle man to put u in touch.
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07-15-2014, 02:10 PM | #21 |
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Not a must have but I'm getting it... had test drive with hud in it and loved it.. especially if ur getting ACC aswell definitely worth it. And guy said ur pay half ur finance after 36 months of a 4 year pcp no I would be able to volountry termination just after 2 years is that correct guys?
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07-15-2014, 02:12 PM | #22 |
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Just short of 9k off on a 330d touring. I phoned up Dtd who were able to give me a PCP quote via a dealer on the discounted price. When I was happy they put me in touch with the BMW dealer in Surrey and I have been dealing with them since. There is nothing extra to pay on top of this price i.e a referral fee (autoebid charge a fee on top of their price). From there you can discuss finance options and illustrations with the dealer and play around with the figures.
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