Financing used BMW - help please!!

harveybobbles

pelirocco wrote: »

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

Well the OP said:

I was put off by the seemingly high deposit and monthly payments.

and:

At the end of the 4 years, they included a balloon payment too. This seemed excessively high

motorguy

harveybobbles wrote: »

Well the OP said:




and:

Doesnt mean that he cant afford it though, just means hes aiming to negotiate for a better deal.

I know i do.

ultracheapskate

harveybobbles wrote: »

Well the OP said:




and:

IF you read the rest of the post, I said that it was especially high relative to the monthly payments for a new vehicle (which had a higher list price). Anyways we are arguing over a trivial point - whether or not you believe I can afford it makes no difference to me.

Alias_Omega

From Autotrader,

You could pick up a 2008 320d coupe for just over £15,000 from a trader (evans harshaw) with a little over £18,000 for a BMW dealer.

I guess you need to decide what fits your budget, both in spec / colour / mileage of car & the after-sales warranty / service of the thing.

cyclonebri1

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?

Nope, it's up to us to advise of all alternatives.

Do you not agree???

And the bottom line; to do it in a MSE way :T:T

Shimrod

pgilc1 wrote: »

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

Not necessarily.

The OP can download a brochure from the BMW website to see the differences. There aren't as many on the coupe as there are on the saloon, and the coupe overall has a better standard spec than the saloon.

Just checking the BMW website, and there is a new model coupe out, so if the OP can afford to buy new then that may be a more desirable option, although it does mean a wait time for the car.

Also, if buying new, the OP might want to reconsider a petrol model based on their low mileage - the 320i for example is £3,000 less than the 320d. If buying on a PCP though, that may not translate to a great difference in monthly payments.

motorguy

Shimrod wrote: »

The OP can download a brochure from the BMW website to see the differences. There aren't as many on the coupe as there are on the saloon, and the coupe overall has a better standard spec than the saloon.

Just checking the BMW website, and there is a new model coupe out, so if the OP can afford to buy new then that may be a more desirable option, although it does mean a wait time for the car.

Also, if buying new, the OP might want to reconsider a petrol model based on their low mileage - the 320i for example is £3,000 less than the 320d. If buying on a PCP though, that may not translate to a great difference in monthly payments.

Differences are minor - Neither have leather or nav for example.

ultracheapskate

Shimrod wrote: »

The OP can download a brochure from the BMW website to see the differences. There aren't as many on the coupe as there are on the saloon, and the coupe overall has a better standard spec than the saloon.

Just checking the BMW website, and there is a new model coupe out, so if the OP can afford to buy new then that may be a more desirable option, although it does mean a wait time for the car.

Also, if buying new, the OP might want to reconsider a petrol model based on their low mileage - the 320i for example is £3,000 less than the 320d. If buying on a PCP though, that may not translate to a great difference in monthly payments.

Thanks - I had a look at the BMW website and they seem to have a special offer, where you can get "free" navigation when purchasing a new coupe. I got a quotation from https://www.broadspeed.com for a new 320i m sport coupe (with a few of my desired extras), and they are offering it for £30k (saving of approximately £3k from list price). Presumably I can go to my local dealership and ask them to match or better this offer?

Am I right in thinking that if I went down the route of contract hire, as opposed to PCP, I should be able to get lower monthly payments?

Shimrod

pgilc1 wrote: »

Differences are minor - Neither have leather or nav for example.

Dakota leather is standard on both 4 & 6 cylinder models. And as I mentioned earlier, the differences are less pronounced on the coupe than the saloon - but while you might consider the differences to be minor, if an option is missing that you want then it becomes significant. The OP hasn't indicated which options he prefers, which is why I suggested checking the spec list.

Shimrod

ultracheapskate wrote: »

Thanks - I had a look at the BMW website and they seem to have a special offer, where you can get "free" navigation when purchasing a new coupe. I got a quotation from www.broadspeed.com for a new 320i m sport coupe (with a few of my desired extras), and they are offering it for £30k (saving of approximately £3k from list price). Presumably I can go to my local dealership and ask them to match or better this offer?

Am I right in thinking that if I went down the route of contract hire, as opposed to PCP, I should be able to get lower monthly payments?

There's certainly nothing stopping you going down to a dealer and seeing if they will match price - at worst they will say no!

I've never bought on contract hire or PCP as my annual mileage is in the region of 25,000 and these deals work best when, like yourself you only do a normal or lower annual mileage.
Be aware that if you are borrowing over £25K to fund the car purchase on a PCP deal, you are not covered by the standard hire purchase terms, so if you get into financial difficulty you will not be able to return the car with no further payments even if you have paid over half the loan payments.