03-12-2013, 05:18 AM | #1 |
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BMW Select vs Lease
I've decided to finance my f31, make sense in my circumstances and I was pretty happy with the Select deal I've been offered
However I've now noticed some incredible lease deals. For instance 330d xdrive MSport touring with Pro Nav £420 per month inc vat on a 6 + 36 basis over 10k mile pa. That equates to a £2500 deposit. 24 month deals can be had for even less but I'll stick with 36 for comparisons My select monthly payment is way way higher with a 10% deposit but still very affordable. Allowing for a 10% discount off list price according to the BMW calculator I'd need to chip in a £7500 deposit to make the same £420 monthly payment, so like for like it looks like it'll cost me £5000 less to lease over 3 years Obviously I don't get to purchase the car at the end of the contract but to recoup the £5k saving the car would have to be worth £5k more than the gmfv right? So £24k for a 3 year old 330dx? Maybe, but I guess that's what this comes down to right, a gamble on future value? Anything else I'm missing? Leasing seems to be the better option for me here I think |
03-12-2013, 05:24 AM | #2 |
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I also went down the lease route for similar reasons to you. 330d M Sport with Professional Nav. Not sure if I'm allowed to mention the leasing company but very good so far. Car should be here end of April.
The one thing you have to be careful about though, is extras. I've found that over the course of the lease I'm paying full price for just about every extra - so the residual value of extras isn't taken into account. By the time I added on the Visibility pack, adaptive suspension, heated seats, privacy, electric lumbar I was paying almost £100 per month more (over 24 month period). Ian |
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03-12-2013, 06:18 AM | #3 |
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Yes I noticed that costs do ratchet up a bit with some options but for adding Pro Nav it only costs me an additional £1000 over the term rather than the full £2000.
When did you put in your order? My biggest fear is that I'll be made to wait a few months for delivery at which point they'll give me some BS and I'll discover that the deal really was too good to be true |
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03-12-2013, 06:37 AM | #4 |
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When I spoke to the leasing company about extras the main exception does tend to be sat nav which does have some residual value. That's why I think many companies specifically list models with Business Media or Professional Media rather than list it as an extra. Was also told some manufacturers include residual on metallic paint, sunroof etc but generally you'll pay full price.
Order was placed a fortnight ago. No reason to assume there will be a problem - the agreement was based on the quote so shouldn't change. Ian |
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03-12-2013, 08:16 AM | #7 |
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Hmm road tax is included too so that's another £350 saving over 3 years. Still feel that I'm missing a sting in the tail
Are lease co's more likely to penalise for damage at the end of the contract? |
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03-12-2013, 08:19 AM | #8 |
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Yes I've been keeping an eye on lease deals and you can get a 330d M Sport F30 with bus nav for around £360 for 24 months. But as you say, the options wack the price up.
It seems to me the way to go if you dont want to be shelling out 1000's on dealer prices with this cheap lease prices on 330d's. The only disadvantage I can see is that at the end of the lease you need a source your next car. Now if you like the F30 that much and want another one on lease, you need to hope there are good deals out there. Also, you need to keep the car in good condition else the lease company could sting you at the end for damage etc.. so look after them alloys! |
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03-12-2013, 08:35 AM | #9 |
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Looking after your lease car and keeping mileage within limits is crucial to avoid extra charges. Other than that there are no mysteries that I can see, you pay monthly and hand back.
The point about what happens with your next car is one that I have thought of in the past. So you get say an M3 now on a cracking deal because they are run-out models and heavily subsidised, then 2 or 3 years later you want another M3, the new model is out and deals are much less attractive. At that point you need to either pay a load more to get back to the same type of car or go for something else that may be on offer or downgrade but pay the similar amount for this. Guess you just take your chances and see but given the very fixed term of agreements there could be problems if great offers aren't available just exactly when you need them. |
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03-12-2013, 08:58 AM | #10 |
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I believe there can be an opportunity to buy your lease car from the lease company at the end of its term but I believe they stitch you up well for the privilege. Which seems strange as they'll get bottom dollar for it at an auction.
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03-12-2013, 09:06 AM | #11 |
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Wow, just looking on the 'net..... heres the cheapest F30 330d M Sport lease I've seen:
http://www.freedomcontracts.com/bmw-3-series-4dr-lease/ Click on the Personal Deals tab: £355 a month inc VAT Hardly any more than a 320d, but only ok if you are just happy with business media. |
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03-12-2013, 09:06 AM | #12 |
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davyk31 is right with regards to mileage. The excess on my deal is 18p per mile which is probably about double what a PCP deal would be.
I've leased in the past and had a couple of scuffed alloys and usual stone chips on bonnet - was just put down to fair wear and tear. Just checked the expected delivery date on mine - "at dealers April 23 with expected delivery to me 3 days after". Other downside of leasing is that I need to sell my current car privately. Although fairly sure I can get more than dealers were offering P/X when I was considering buying. I've also just done an insurance quote as wasn't sure if leasing would affect that but it made no difference - and only £40pa more than I'm paying for my 2009 E90. What's interesting is that with the company I'm using the 330d M Sport Professional Nav is only £7 per month more than the 320d (based on 24 months at 12.5k miles per year). And you would need to add on the cost of metallic paint to the 320. Ian |
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03-12-2013, 10:53 AM | #13 | |
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03-12-2013, 11:10 AM | #14 |
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Steve
I had already included the auto on the 320d. But adding the metallic and the additional for the sports auto (£135) - the monthly payment is now £25 more than the 330d. There must be some serious bulk buying of 330d models out there! Incidentally, if anyone has the January 2013 price list - metallic paint is showing as a £610 OPTION even on the 330D models. Fairly sure this is wrong - in face it doesn't list ANY paint as standard on the 300D! Ian |
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03-12-2013, 03:24 PM | #16 | |
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03-12-2013, 03:46 PM | #17 |
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I've leased many cars in the past without any problems. Seeing these deals I wish I had waited rather than ordering the F31 as soon as it was available.
Looking at that link above I could be driving a brand new facelifted Mercedes E63 AMG Estate for less than I'm paying now, and it comes with all the extras as standard. |
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03-12-2013, 05:05 PM | #18 |
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Yes - the configurator does show metallic correctly; it's the printed price list that's wrong.
Richard M - yep some crazy deals on both the E63 and C63 at the moment and if I could afford to run one I'd be very tempted. |
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03-12-2013, 05:37 PM | #19 | |
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I did test drive a C63 before ordering the 330D but I wasn't that impressed. Yes it's fast and sounds great but it feels like an old car now and is pretty poor quality inside. The E63 I would have got without hesitation! Sod the fuel and tyre costs |
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03-20-2013, 05:09 PM | #21 |
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Not sure - it would depend on the duration, and the final payment too right?
I went for a lease on an F31 330d M Sport. £431 inc VAT a month on a 3+23 - That's with business media, adaptive suspension, front seat heating and dimming side mirrors... Proof is in the pudding - waiting patiently...
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