Financing used BMW - help please!!

ultracheapskate

Shimrod wrote: »

Are you sure you are comparing like with like? You mentioned you were looking at diesels because they had the right spec. While options tend not to add much to the resale value, on BMW they are expensive for new cars. It is not uncommon for some of the used cars to have £8-10K of options on them (e.g. Leather is circa £1500 as is Auto box £1500).

Also be aware the standard spec is better on the 6 cylinder than the 4 cylinder models, so double check you have the expected options before purchase.

Yes you are right...the spec was slightly better on the used car, than the new car I configured. However, correct me if i'm wrong (which is quite possible!), but that wouldn't matter when it comes to financing as it is based on the final value of the car - the BMW used car is priced at £24k, while the new car (although less extras) is £32-33k. Based on the list price, surely you would your monthly payment to be less on the cheaper car?

motorguy

ultracheapskate wrote: »

Yes you are right...the spec was slightly better on the used car, than the new car I configured. However, correct me if i'm wrong (which is quite possible!), but that wouldn't matter when it comes to financing as it is based on the final value of the car - the BMW used car is priced at £24k, while the new car (although less extras) is £32-33k. Based on the list price, surely you would your monthly payment to be less on the cheaper car?

To correct a post above, there is minimal if any difference between the standard spec of a 320d and a 330d.

Not necessarily.

I bought a brand new 535d M Sport for less than the monthly payments for a year old one. The residual value will be based on what the cars age is come handback time

also a car that is priced at the top end of the pricing for that model will, according to BMW's system be worth pretty much the same as a car with few options.

Oh, on new BMW's expect 8-10% discount.

motorguy

cyclonebri1 wrote: »

And just because this is a money saving site you will allways get the rightfull suggestions of why don't you forget the brand and go cheaper. Not a critisism of your choice, just giving credence to why you will get "conservative" posts.

Surely its up to us to advise on what the O/P wants, not on our perceptions of what he needs / can afford?

LandyAndy

ultracheapskate wrote: »

You're right, it would probably be better to get a petrol in an ideal world. However looking at the BMW used vehicles, the cars I seem to like (based on price/spec/colour etc) just happen to be diesel by chance.

But, modern diesels really don't like low usage and short journeys. If you regularly do an open road juorney of say 50 miles then all you are doing is paying a premium for improved economy that doesn't recoup the added purchase cost but, if you do only short journeys, then you could also be creating serious repair costs that would niot arise in a petrol vehicle.

LandyAndy

pgilc1 wrote: »

Surely its up to us to advise on what the O/P wants, not on our perceptions of what he needs / can afford?

I think we should be free to say what we want. You never know, someone might make a point the OP hasn't considered.

If the OP had asked if he would be better off sticking his head in a gas oven or his fingers in an electric socket I wouldn't feel I was out of place advising on the availability of counselling.

alexlyne

Sorry for this post, but wanted to put it in anyway.
if you spend £15-20 per day (irrespective of tax/service/insurance) to own a car to do on average 16 miles per day, couldn't you just have a taxi drive you everywhere? Then you get a chauffeur thrown in too!

I agree with landyandy that modern diesels and constant short journeys do not mix - though I guess if you want to spend 25k on a car, you can afford the servicing costs too - but will your courtesy car be as nice?

motorguy

LandyAndy wrote: »

But, modern diesels really don't like low usage and short journeys. If you regularly do an open road juorney of say 50 miles then all you are doing is paying a premium for improved economy that doesn't recoup the added purchase cost but, if you do only short journeys, then you could also be creating serious repair costs that would niot arise in a petrol vehicle.

Fair and valid points, however such is the way with BMW's that its probably harder to get a petrol car at a decent price, than the diesel variant, to the extent that BMW have stopped making the 330i.

Plus the diesel 4 cyl is a very nice drive compared to the 4 cyl 2.0 petrol.

motorguy

LandyAndy wrote: »

I think we should be free to say what we want. You never know, someone might make a point the OP hasn't considered.

If the OP had asked if he would be better off sticking his head in a gas oven or his fingers in an electric socket I wouldn't feel I was out of place advising on the availability of counselling.

Fair point and well made.

pelirocco

harveybobbles wrote: »

Well it sounds like you cant afford your any of these cars, so maybe look at older cars for say 15k...?

How on earth did you come to the conclusion he can cant afford it?

Hintza

pelirocco wrote: »

How on earth did you come to the conclusion he can cant afford it?

I imagine quite easily............who can nowadays!