needforspeed

Bit of advice please from all of the UK owners.

I've only had my 530d since Jan, but I've begun to realise the way in which I am financing it may not be the best given that for slightly more I could have a new / nearly new car with an almost intact warranty.

I have a 2 yr old car on a 4 yr HP deal (total borrowed ?23K) with no balloon payment

Can anyone give me some ideas about the sort of leasing / php / finance deals they have managed to negotiate?

My main thoughts are to upgrade to a new / nearly new 530d / 535d msport with auto, nav and comms pack.

Based on a milage of 25000 what would you think I'd need to find each month ?

07530d

I just picked up an 06 reg new 530D SE (list + extras ?38K - with neotiated discount ?34K with ?3k deposit)

4 years lease with monthly payments of ?509 - final GFV / to buy is ?14K

I got the best information on cheapest finance on www.drivethedeal.co.uk. That site has a useful calculator to use and it also had good interest rate. I used the site to bash down the cost of my E60 and BMW matched the finance. General rule - If you introduce a PCP with a balloon (final lease payment to buy) at the end, it will substantially reduce the monthly payment.

Also of note, as the residual value of the sport model is higher (than the SE), the extra cost on list price is not reflected in the monthly payment - ie- it is worth more at the end.

Wish I could have stretched to a 535

Mambo

I got my 535d sport 6 months ago when it was 10 months old for ?36k.

?9k down, ?400 a month for 30 months and a balloon of ?18k. (approx numbers)

My mate organises finance and can give you a quote. If you want his details PM me

gIzzE

Best to buy an almost new 535d in sport guise, with as many toys as you can get to make it stand out when it comes to sale time, but for the right price.

As an example I was going to buy a new 535d M-sport touring with Panoramic roof, heads up, leather and media for ?49k.
I would have done it like this...


?49,000
less ?4000 deposit

?45K to finance over 48 months (5.5% apr) at ?630 a month

With a balloon of 45% at the end leaving ?22,050.00 to pay.


However!!!

I ended up buying one that was the same spec but 6 months old for ?36000 (plus the DMS remap) so the figures look like this.....

?36,000
less ?2000 deposit

?34k to finance over 36 months (will still be newer than the new one over 48 months) at ?470 a month

With a balloon of ?21200 at the end to pay.

Now I have taken a gamble on the car being worth ?21k at the end of the term, but a ?50k 535d M-Sport Touring should be worth that or close enough. I have also done it on a variable rate loan, so no early repayment penalties and I can put some money in as and when I want, or if I think the car is going to be worth less than than the ?21k.

gIzzE

Excellent finance calulator!


http://www.dynamic-webs.co.uk/information/...calculator.html

gIzzE

Just found the quote from Lind BMW for the same car and these were their figures.....


?48,780.00

36 payments of ?867 and a final payment of ?24400 on the 37th month.

This is with an apr of 8.5% and finance insurance included.


Cheeky Bastards!!

needforspeed

Thanks 07530d / mambo / gizze really useful stuff.

I didn't realise that I could have an HP option with a balloon payment and no one offered me anything like this.

I bought a ?24K car with ?1k deposit and ?23k hp over 4 years. So I am actually paying ?50 a month MORE than 07530d for a 2 year old car.

I feel a trip to the dealers coming on.

pedrollo

BMW can be very competitive when they want to be, the dealer reps will offer you nothing special unit they realise that you know the game and then they get serious.

Contact Lombard as well, sometimes one wins, sometimes the other.

Once you have an account with BMW finance you can also use them for other things.

pedrollo

P.S. I don't like baloons, the equity is my next deposit!

gIzzE

I personally would prefer to pay the ?60 a month interest on a balloon than tie money up in a car, I can earn more than that by putting the ?15k or whatever it is into something else, but we are all different.

I use Lombard, aim for 1% above base on a variable and even up to 2% is OK at the moment.

And make sure it is variable, so you may end up paying an extra month at the end, but at least you can swap over in 12 months and not get shafted!