09 Mar 2015

A question about : Bmw 135

Approved dealership is offering the following arrangement on this car:

PCP: Ј26,995. Deposit Ј3,995 (trade in + cash from me). Financing Ј22,997 @ 5.8% APR. bubble of Ј13,107. Cost of finance over 4 years Ј4,131. Total cost of Ј31,126. Repayments of Ј299. 8,000 miles (won't be a problem - I'm pretty central)

Car is 14 regi with

So my thoughts are this is a lot of car for this money. My question is, removing the fact it's still a lot of money for what is essentially negative equity, is this a reasonable deal all things considered?

More importantly and hypothetically ,as I'm unlikely going to buy this as my head is winning over My heart, what would the cheapest way to finance Ј26k or any large sum for that matter?

Best answers:

  • The new cost is not Ј39k, That is the list price that can be heavily discounted.
    This is a huge cost to obtain this car. Worth looking at a 2yr personal lease.
    Oh and you do know that the 1 series is about to get a facelift so you are talking about an obsolete model.
  • Several for sale from Franchised dealers for under Ј26k. 2014 upto 10,000 miles.
    Are they depreciating that much?
  • With a list price of 39k it would probably cost about 33k if bought new. To go from 33k to 26k in the first year doesn't seem too bad, especially give a small impact from the LCI. Of course that's a 26k including some profit for the dealer, so it might really have gone 33k to 24k, which sounds more painful.
    I'd be tempted if all the toys actually had value to me. Otherwise I'd be wondering what deal could be had on a basic new one, and how difficult it would be to get a First Direct 3.6% APR loan (needing a current account).
    Then I'd decide to pay off a chunk of my mortgage instead, which is why I don't own a M235i.
  • If you think you need to finance Ј26k for a car may I suggest you buy what you can afford.
    This is not meant to sound as rude as it may do but you would get a good used car for Ј8k.
  • No you "rent" it for Ј11k which is why leasing may be better.
  • Keep an eye on this thread:
    https://www.pistonheads.com/gassing/t...nmt=#seperator
  • Ј7000 depreciation in under a year is OK?
    Dont forget when the new one hits the showrooms it will depreciate even more. Unless the new one turns out to be a total dog that nobody will touch.
    Whats special about the one your buying compare to the ones on the autotrader for under Ј26,000 ?
  • Thanks for the link.
    Must all be due to spec that's separating them on price. The basic entry level model is quite stripped down by comparison.
    I've got a feeling I'll be getting a phone call close to the end of March when the 2 series hits and the new reg is out which will be quite bizarre as the sales person guaranteed this would sell
    I'll keep you all posted. I think my mind is made up anyway. 5 years ago however!
  • Last month on our staff car scheme we were offered an M135 for Ј300 pm with no deposit. 24 or 18 month contract at 8k PA. Great deal but the way I see it is Ј5k+ to rent a car and have nothing to show for it at the end.
  • The sales person guaranteed it would sell, Yes of course it will sell, But anyone that pays that much is paying way too much for it.
    What spec does the one your looking at have that the cheaper ones do not?
    I think the cars seriously overpriced and the salesman has you under his wing, Your his best mate for the week, Or until he can get you to sign on the dotted line.
    He is there to sell cars for as much as they can get for them. Of course he will say this ones rare and its only been on show 10 minutes before you came in and its not to be missed because you wont find another.
    Have you compared the cheaper ones on ebay?
  • Not a great deal, you could do better. Compare the deal with one of the online car brokers. I would be cautious of buying an ex-demonstrator.
  • I've never taken to the 1 Series at all.
    and as for the 2 Series, its bleeding awful to look at.
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