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      02-14-2019, 05:25 AM   #1
pensioned off
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PCP Interest rates

Thinking of doing pcp for the first time on an ex demonstrator - always bought cars with bank loan - so bmw site quotes 12.4% apr - so question - is this rate negotiable ?
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      02-14-2019, 05:33 AM   #2
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Quote:
Originally Posted by pensioned off View Post
Thinking of doing pcp for the first time on an ex demonstrator - always bought cars with bank loan - so bmw site quotes 12.4% apr - so question - is this rate negotiable ?
Yes it is. The dealer will tell you they have a minimum they have to charge on used cars though.It used to be 5.9% I think.
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      02-14-2019, 06:04 AM   #3
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I got 5.9% on a used BMW in December
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      02-14-2019, 06:06 AM   #4
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When looking at Ex demo cars, it is worth also considering looking at new as they often have better margins on new cars and able to offer much better discounts / apr rates.

New can sometimes work out about the same as used when factoring in the extra cost of interest on used.
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      02-14-2019, 07:05 AM   #5
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On a related note....how much can you haggle on the price of a used car?
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      02-14-2019, 07:16 AM   #6
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I got 6.9% on a demo with 40 miles on the clock back in August.
Along with a £3k deposit contribution.
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      02-14-2019, 07:38 AM   #7
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Quote:
Originally Posted by stevei View Post
I got 6.9% on a demo with 40 miles on the clock back in August.
Along with a £3k deposit contribution.
That sounds piss poor unless the car was on very cheap.
Typical discounts on new 3/4 series is 20-23% with contributions from dealer and BMW finance, often at new car APR of max 3.9% ish, if not lower watch for the quarter by quarter changes...
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      02-14-2019, 07:55 AM   #8
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I got 0% on the 4 series offer in December
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      02-14-2019, 08:01 AM   #9
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I got 0% on the 4 series offer in December
Ahhhh yes, the Impulse Buy offer! I need one of those to come around again next quarter!
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      02-14-2019, 09:28 AM   #10
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I had a 0% one last May.. £70/month saving equivalent....
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      02-14-2019, 09:44 AM   #11
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Quote:
Originally Posted by 335d Rocco View Post
I got 5.9% on a used BMW in December
Thanks, thatís interesting, how old was the car you purchased?

I was told that they canít go below 7.8% if the car is over 6 months old and that itís possible to get as low as 3.9 if the qualifies as being new enough (I seem to recall this meaning less than 6 months and 1k miles). Anyone know about this detail?
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      02-14-2019, 10:30 AM   #12
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Quote:
Originally Posted by C320 View Post
Thanks, thatís interesting, how old was the car you purchased?

I was told that they canít go below 7.8% if the car is over 6 months old and that itís possible to get as low as 3.9 if the qualifies as being new enough (I seem to recall this meaning less than 6 months and 1k miles). Anyone know about this detail?
The car I bought is March 2017
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      02-14-2019, 02:14 PM   #13
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Quote:
Originally Posted by goodbyalfa View Post
That sounds piss poor unless the car was on very cheap.
Typical discounts on new 3/4 series is 20-23% with contributions from dealer and BMW finance, often at new car APR of max 3.9% ish, if not lower watch for the quarter by quarter changes...
Car was very cheap mate
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