[Goneinsixtyseconds]

Originally Posted by Blacktemplar

BMW guy got back to me today.....

My challenge was "any equity in my car plus a nominal £500" and don't want to go too much above £500 monthlies on a 4-year deal"

His response: "let's wait till you hit your VT point and we'll see what we can do"

I was £4K in originally, with £12.9K GFV total cost incl interest is £35.9K, 37 months into 48m PCP - so when's VT? I reckon it should be around Jan/Feb....

Not many manual F31 330i's about so hard to judge current private sale value...

As Ian said, you should be well past VT point by now. Especially as after you've divided total cost by two and subtracted your own deposit, you also subtract anything that was listed as deposit contribution from the dealer. Then you divide by monthly payments to get the amount of months.

If you know in advance that you're going to VT, it isn't really sensible to put your own deposit in as that is spread over the whole length of the deal. Eg, if you VT 2/3 of the way through, you've poured 1/3 of your deposit down the drain.

A deposit only saves you interest on the £4K anyway, nothing else, which with low interest rates, is minimal. I guess it does give a placebo effect, making the monthly payment look about a hundred pounds less.

Back on topic, the touring M340i looks fantastic, but I doubt the deals will ever be as good as the old F31 340i now that they've made them M light cars and pushed up the list price before you get started.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

As Ian said, you should be well past VT point by now. Especially as after you've divided total cost by two and subtracted your own deposit, you also subtract anything that was listed as deposit contribution from the dealer. Then you divide by monthly payments to get the amount of months.

If you know in advance that you're going to VT, it isn't really sensible to put your own deposit in as that is spread over the whole length of the deal. Eg, if you VT 2/3 of the way through, you've poured 1/3 of your deposit down the drain.

A deposit only saves you interest on the £4K anyway, nothing else, which with low interest rates, is minimal. I guess it does give a placebo effect, making the monthly payment look about a hundred pounds less.

Back on topic, the touring M340i looks fantastic, but I doubt the deals will ever be as good as the old F31 340i now that they've made them M light cars and pushed up the list price before you get started.

Putting a bigger deposit in does help you get to VT point quicker, or if you are old fashioned like me and just want to trade early it means you aren’t chucking too much / any negative equity into next deal... I did manage to sell my SQ5 at 2 years old and not be in negative equity - but as you say it did mean writing off a sizeable deposit quickly....

[JD6]

Originally Posted by Goneinsixtyseconds

Back on topic, the touring M340i looks fantastic, but I doubt the deals will ever be as good as the old F31 340i now that they've made them M light cars and pushed up the list price before you get started.

I agree that G21 M340i deals won't reach F31 340i levels, but looking beyond the M lite badge, it is a far superior machine with a much higher standard specification.

Given the high teens percentage discounting available from day one, I imagine a year from now they'll be falling over themselves to try and shift them.

[Blacktemplar]

Originally Posted by Goneinsixtyseconds

As Ian said, you should be well past VT point by now. Especially as after you've divided total cost by two and subtracted your own deposit, you also subtract anything that was listed as deposit contribution from the dealer. Then you divide by monthly payments to get the amount of months.

If you know in advance that you're going to VT, it isn't really sensible to put your own deposit in as that is spread over the whole length of the deal. Eg, if you VT 2/3 of the way through, you've poured 1/3 of your deposit down the drain.

A deposit only saves you interest on the £4K anyway, nothing else, which with low interest rates, is minimal. I guess it does give a placebo effect, making the monthly payment look about a hundred pounds less.

Back on topic, the touring M340i looks fantastic, but I doubt the deals will ever be as good as the old F31 340i now that they've made them M light cars and pushed up the list price before you get started.

This is my first PCP rodeo, so until quite recently I thought VT was ‘video tape’

[JNW1]

Originally Posted by JD6

I agree that G21 M340i deals won't reach F31 340i levels, but looking beyond the M lite badge, it is a far superior machine with a much higher standard specification.

Given the high teens percentage discounting available from day one, I imagine a year from now they'll be falling over themselves to try and shift them.

Well, a bloke over on Pistonheads has ordered an M340i and claims to have got a discount of just over 20% (think it might be a saloon rather than a Touring though). He won't divulge on open forum which dealer gave him the discount - which makes me ever so slightly sceptical - but given some published offers are already in the high teens it doesn't seem an entirely unrealistic claim.

Therefore, while time might prove me wrong, if discounts of 20% are available now I think it's quite possible closer to 25% will be achievable 12 months hence (and that's pretty much what I got on my F31 about a year after the 335d derivative was launched). Obviously given the higher list price the G21 M340i will still be more expensive than the F31 340i for a given level of discount; however, once the higher spec is taken into account the difference may be justifiable/palatable?

[Blacktemplar]

Originally Posted by isleaiw1

According to my *** packet calculation you should be there..... total amount payable divided by 2, take off deposit and see how many months at your monthly payment... I assume you pay £400 a month based on those numbers?

Soooo.... per other thread on X3M, limbering up for a chat with the stealer.

I have a question on how Dealer Contribution is factored in to the VT calculation; they put in £3K on top of my £4K, so is the VT point 50% of the total to pay minus £4K or £7K? Makes a material difference to the VT point by about 6 months...

According to the figure on the Termination rights of the agreement, the 50% figure excludes the Dealer Contribution but I’ve read elsewhere that it should only be the Manufacturer contribution that’s discounted from the calculation.

On the agreement it states “advance payment” is £7K...

[Goneinsixtyseconds]

Originally Posted by Blacktemplar

Soooo.... per other thread on X3M, limbering up for a chat with the stealer.

I have a question on how Dealer Contribution is factored in to the VT calculation; they put in £3K on top of my £4K, so is the VT point 50% of the total to pay minus £4K or £7K? Makes a material difference to the VT point by about 6 months...

Dealer discount is not factored in. Anything that says finance contribution is. This is usually the fixed amount set by BMW for taking the pcp. On my recent X3 deal, only £2.5k of the £11.5k total discount was finance contribution. On my 440i with similar discount it was £4K.

[Blacktemplar]

Originally Posted by Goneinsixtyseconds

Dealer discount is not factored in. Anything that says finance contribution is. This is usually the fixed amount set by BMW for taking the pcp. On my recent X3 deal, only £2.5k of the £11.5k total discount was finance contribution. On my 440i with similar discount it was £4K.

Thanks - was reading elsewhere before you replied (might even have been a thread you contributed to) so suspected that would be the case.

In that case I hit VT in mid December so as long as I’m not changing before then should be ok

[Goneinsixtyseconds]

Originally Posted by Blacktemplar

Thanks - was reading elsewhere before you replied (might even have been a thread you contributed to) so suspected that would be the case.

In that case I hit VT in mid December so as long as I’m not changing before then should be ok

Is that on your current car?

BMW let me delay my first payment by a month on my new one so I didn't have to wait as long. All I was bothered about was not having 2 payments in the same month.

If you are serious about VTing phone them up and double check your date, they'll tell you over the phone

[JustChris]

Touring has made it into the visualiser also. M Perf kit etc all available in there.

Mexico Blue on M Perf Black Wheels

https://visualizer.bmw-individual.co...ang=en&dc=1-4#

[Goneinsixtyseconds]

Originally Posted by isleaiw1

Putting a bigger deposit in does help you get to VT point quicker, or if you are old fashioned like me and just want to trade early it means you aren’t chucking too much / any negative equity into next deal... I did manage to sell my SQ5 at 2 years old and not be in negative equity - but as you say it did mean writing off a sizeable deposit quickly....

Didn't notice this one. This is just man maths kidding you you're not in negative equity. Or if you VT it's even worse, you're literally throwing money down the drain.

And that's ok, plenty do, (Chris), but tricking yourself by putting in a deposit doesn't make it any cheaper.

[Goneinsixtyseconds]

Originally Posted by JustChris

Touring has made it into the visualiser also. M Perf kit etc all available in there.

Mexico Blue on M Perf Black Wheels

https://visualizer.bmw-individual.co...ang=en&dc=1-4#

Not for me, reminds me too much of this colour.

[gIzzE]

I think I would like to go for something different.

Maybe a dark green or red with extended cognac leather.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

Didn't notice this one. This is just man maths kidding you you're not in negative equity. Or if you VT it's even worse, you're literally throwing money down the drain.

And that's ok, plenty do, (Chris), but tricking yourself by putting in a deposit doesn't make it any cheaper.

With all due respect Alex, you miss the point... I am not in negative equity. I could in a crisis sell and get out of the debt. I have the cash to put the deposit down up front. As far as I am concerned whenthe deposit is paid it’s gone.

So whilst it doesn’t make the car any cheaper, apart from a couple of hundred quid in interest, it does add to flexibility and work for me. That is what I am saying....

[doncarlyon]

That brown interior is absolutely minging!

[mikeoz]

Originally Posted by Goneinsixtyseconds

Not for me, reminds me too much of this colour.

Is there an MPPK version?

[TodmordenLad]

I do quite fancy one of these in spite of the ugly front end and crappy cerium stuff - although I also fancy a 5 again, for luxury and comfort.
Will hold out until more details of the 5 LCI are available. I suspect that discounts on the 5 will be a more generous than on the 3 next year

[Goneinsixtyseconds]

Originally Posted by isleaiw1

With all due respect Alex, you miss the point... I am not in negative equity. I could in a crisis sell and get out of the debt. I have the cash to put the deposit down up front. As far as I am concerned whenthe deposit is paid it’s gone.

So whilst it doesn’t make the car any cheaper, apart from a couple of hundred quid in interest, it does add to flexibility and work for me. That is what I am saying....

That's ok if you sell, but if you VT you've wasted money. You don't though, so it doesn't matter.

For those that do though, it does matter.

I'm not talking emotion, or writing something off on your head, I'm talking logic and facts and figures.

If someone puts in a typical deposit it might save say £1000 in interest charges over the full term, probably less though, depending on rate.

Say that deposit for ease is £4800 over 48 months. That deposit is spread evenly over all 48 months reducing your payment, so costing you a £100 per month.

If you VT at 30 months, you've used £3,000 of that benefit, but wasted the remaining £1800 that you didn't get the benefit of. That is more than the interest you have saved by putting it in in the first place.

If you think you might VT it is logically better to not put a deposit in unless the interest rates are stupidly high.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

That's ok if you sell, but if you VT you've wasted money. You don't though, so it doesn't matter.

I dont.

And unless I run into financial difficulties I wont.

If I put a deposit in I am reducing the amount I owe and saving interest. If you set out with the intention to VT at earliest available point then you wouldnt put a deposit in, agreed. I dont. In fact, I am currently planning on buying this one out at some stage... but then I think I said that with the last one.

The bit I find amusing of course is that we are talking about saving a few quid and best financial sense - in the same breath as talking about buying £50k to £60k cars. I think that might be the definition of irony!

[Goneinsixtyseconds]

Originally Posted by isleaiw1

I dont.

And unless I run into financial difficulties I wont.

If I put a deposit in I am reducing the amount I owe and saving interest. If you set out with the intention to VT at earliest available point then you wouldnt put a deposit in, agreed. I dont. In fact, I am currently planning on buying this one out at some stage... but then I think I said that with the last one.

The bit I find amusing of course is that we are talking about saving a few quid and best financial sense - in the same breath as talking about buying £50k to £60k cars. I think that might be the definition of irony!

I don't think it is. Whilst I've heard that various things don't matter to you, such as extra insurance, fuel costs, road tax, servicing, wasted deposit here and there, etc etc, they really do to me.

I cant afford a £50-60k car, I can afford the £44k car I've just bought, but only if I manage those smaller amounts on other things well. It might not be a lot to you here and there, but to keep dismissing it as trivial to others is viewing their financial situations as being similar to yours. Mine certainly isn't.

We've spoken face to face, and yes I earn a good salary, and yes I get good bonuses. But they are taken care of by family life in lots of different ways. If I manage the many small costs well, that makes me financially comfortable. If I ignore all of them and just shrug, it will all catch up with me eventually.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

I don't think it is. Whilst I've heard that various things don't matter to you, such as extra insurance, fuel costs, road tax, servicing, wasted deposit here and there, etc etc, they really do to me.

I cant afford a £50-60k car, I can afford the £44k car I've just bought, but only if I manage those smaller amounts on other things well. It might not be a lot to you here and there, but to keep dismissing it as trivial to others is viewing their financial situations as being similar to yours. Mine certainly isn't.

We've spoken face to face, and yes I earn a good salary, and yes I get good bonuses. But they are taken care of by family life in lots of different ways. If I manage the many small costs well, that makes me financially comfortable. If I ignore all of them and just shrug, it will all catch up with me eventually.

I wasnt commenting on financial situations, I was commenting on the fact that cars are a waste of money full stop....

But yes, being older, having grown up kids and no one else to spend my money on helps. I'd swap it all in an instant of course.

But if you really want to look after your money, buy something cheaper. It is only a car after all....

[Goneinsixtyseconds]

Originally Posted by isleaiw1

I wasnt commenting on financial situations, I was commenting on the fact that cars are a waste of money full stop....

But yes, being older, having grown up kids and no one else to spend my money on helps. I'd swap it all in an instant of course.

But if you really want to look after your money, buy something cheaper. It is only a car after all....

I don't need to buy anything cheaper as long as I keep a control of my bills. That was my point. Quite a few times over the last few weeks you've commented on £30 here, £50 there, service costs etc etc and not worrying. I control the bills I can control so I can have a nice car, a nice house and good holidays. Not controlling all those other bills means we'd have to miss out on something.

Plus, in my life and in my job it just seems to make sense to control costs if you can. It's not hardship to do it. In fact if I'm negotiating something down I enjoy the process. I understand that others don't.