BMW Finance, better than my bank?

Gurj247

Joeler wrote: »

M3/M5, erm nope!

Looking at 3series diesel m-sport coupes, probably a 325d or 330d. But needs to have a top spec, low milage and be within 3years old

Although I'm planning to spend this amount on a car, I'm not going to buy one which will cost me a fortune to run, I see these as best of both worlds, sporty enough but pretty fuel efficient!

I see, yes they certainly are nice cars.
I would also still look at Private cars on Autotrader etc and see what else is out there within the budget that you have and work out whats cheaper overall.

Just because the APR may be less with BMW does not mean that you will definately be better off going this route.

You may find that taking the finance from the bank and buying a car privately (abiet with Full BBMW Service History - Hence still within the warrenty period) may work out cheaper and better for you. Just something to consider.

Also i assume that the car will have stop start technology, enquire about how long this will last typically etc and if it goes how much would it cost to repair/maintain as i have heard that typical life expectancy is about 3 years before you need a new battery and you cannot use the bog standard one to replace the old because of how the whole system works.

Also get yourself on some forums, for more info, i'm a member of bmwowner.com forum (there are plenty of others) that may be able to offer advise etc.

Hope that helps.

pheonixrising21

Joeler, not sure how you get an idea of APR before you ask at a BMW dealership (or other dealership selling a BMW). However, as someone said previously, the credit is usually secured on the car so you are more likely to be accepted.

On the loan front with your bank, the 10.5k credit card/OD limit may be affecting your APR. You have this credit available to you right now, so the extra 15k you need is an additional risk. Do you need all of your current credit facility? Can you reduce the card to say £2k and the OD to say £1k? This would mean a total credit facility of

Joeler

Great info again thank you all.

Gurj247 - Yes I'm aware that there will be cheaper options through other dealers and on Autotrader. I know buying a second hand car from a dealership is prob the most expensive way to do it, but I just thought if I'm spending this much on a vehicle and making sure it has a FBMWSH I would have more peace of mind knowing that they approve it and there is nothing wrong with it. But I have had a look on autotrader and privatley and through other non BMW dealers you do get more bang for your buck so to speak.

Beastface - You can't pay for information like that so thanks very much. I was aware of the consumable costs and I had an idea that a bog standard BMW service is likely to cost around £500.00, but the MPG is interesting so thanks for that. I haven't actually test driven one yet, but basically in an idea world I want something faster than the 2litre diesel if possible, although this is a seriously eonomical option so maybe I'll weigh this up.

Phoenix - Thanks, I'll look at reducing these limits as I dont use them, I also have a couple of other credit cards I don't use much, maybe I'll close these. I know the APR question was dumb, but I havent done this before, sorry! Glad to hear that the fact that it is secured on the car gives me a better chance of getting a good deal.

Probably going to go to my local dealer on Saturday and see what they can offer me. So glad I posted this everyone has been really helpful thanks

BugsyBrowne

Go for the twin turbo 335d and remap it then you've got a hell of a car.

chanz4

If a garage can make money, they will stick approved on it without checks

Gurj247

BugsyBrowne wrote: »

Go for the twin turbo 335d and remap it then you've got a hell of a car.

Any re-map will generally (if done properly) give the car slightly better economy and more power (on a diesel this could add i think upto 40 bhp extra). However to be clear this is not something i would reccomend while the car is in warrenty as doing this (should the dealer find out) would invalidate your warrenty.

If the warrenty has expried then fair enough.

Oh and also look into what the costs are relating to extended warrenty (should you wish to continue with the bmw one)

Gra76

BugsyBrowne wrote: »

Go for the twin turbo 335d and remap it then you've got a hell of a car.

That's what I ended up buying....but I'm waiting till it's out of warranty before remapping it. It's quick enough as it is for now anyway.

BugsyBrowne

Gra76 wrote: »

That's what I ended up buying....but I'm waiting till it's out of warranty before remapping it. It's quick enough as it is for now anyway.

It wouldn't effect your warranty as the remap is not detected.

gingeralan

BugsyBrowne wrote: »

It wouldn't effect your warranty as the remap is not detected.

I'll be honest, I think this is slightly naive. If you took your car to them to claim under warranty for a defect with the drive train, I would be amazed if they didn't discover it had been changed. I know what the advertisers of the remaps say, but it just doesn't sounds realistic. I am sure it may remain unknown while the car functions ok, hut if you tried to claim they would need to investigate further and surely this would involve interrogating the ecu and this would reveal all.

BugsyBrowne

gingeralan wrote: »

I'll be honest, I think this is slightly naive. If you took your car to them to claim under warranty for a defect with the drive train, I would be amazed if they didn't discover it had been changed. I know what the advertisers of the remaps say, but it just doesn't sounds realistic. I am sure it may remain unknown while the car functions ok, hut if you tried to claim they would need to investigate further and surely this would involve interrogating the ecu and this riotous reveal all.

Being naive maybe but me being right yes I am, I have always had my Motors remapped by Emaps and also have had the AUC warranty and have had no problems whatsoever when claiming.