Leasing a BMW?

lucadobe

I was hoping some comments would come from people that have or had the same options and what they did do, obviously not, all I have had is about selling it on, taking out loans,why buy a BMW anyway, better off with a Focus..really they are run of the mill cars believe me,i had one.. I was quoted £2,000 less for a Titanium in 2011 than this BMW when the guy from Ford rang me to ask if I had made a decision I told him I could get a BMW same year etc..his answer go for it as the Fords will not go on forever like the BMW's etc.. All I have had thrown at me are figures about what I am spending, what it's going to cost me, would be cheaper to take taxi's! Life is not just about counting every penny, nobody on here it seems has had a good car on PCP so their opinions are not of any use....basically I don't want a second hand car, had those before, and BMW, Audi Mercs, all ask the earth for a second hand car with very high mileage...and they sell them,that in a nutshell is a no brainer to me to give up this car just to buy another second hand:eek:

lucadobe

albionrovers wrote: »

With hindsight, sounds like a personal lease 3+35 would have worked better. Only 1K up-front and £360/month would have covered it at 3 year's ago prices.

whats the difference? I paid 2,000 deposit and £362 x 36 months =£13,608 with the £10,000 option at the end &interest of £3,500 cost £27,108..if I had bought the car outright would have cost me £23,600 anyway

BlueC

lucadobe wrote: »

I was hoping some comments would come from people that have or had the same options and what they did do, obviously not, all I have had is about selling it on, taking out loans,why buy a BMW anyway, better off with a Focus..really they are run of the mill cars believe me,i had one.. I was quoted £2,000 less for a Titanium in 2011 than this BMW when the guy from Ford rang me to ask if I had made a decision I told him I could get a BMW same year etc..his answer go for it as the Fords will not go on forever like the BMW's etc.. All I have had thrown at me are figures about what I am spending, what it's going to cost me, would be cheaper to take taxi's! Life is not just about counting every penny, nobody on here it seems has had a good car on PCP so their opinions are not of any use....basically I don't want a second hand car, had those before, and BMW, Audi Mercs, all ask the earth for a second hand car with very high mileage...and they sell them,that in a nutshell is a no brainer to me to give up this car just to buy another second hand:eek:

So, what exactly is your question? What do you want to know?

FWIW I also drive a BMW and fully appreciate their benefits over a Ford/Vauxhall etc.

OddballJamie

lucadobe wrote: »

My BMW 's lease is up next year have been paying £360 a month and paid £5000 upfront and I am toying with what to do for the best, it will only have done 11,000 miles by that time so is it worth paying the remainder of £10,000 by then it will be 3 years old, I don't want to just hand back the car and walk away with nothing, other option is to get another ? my partner doesn't want to pay the remaining £10,000 but I feel the car has got to pay for itself and BMW's go on for a long time..anyone had this dilemma?

(36x£360) + £5000 + £10000 = £27960

lucadobe wrote: »

why buy a BMW anyway, better off with a Focus..really they are run of the mill cars believe me,i had one.. I was quoted £2,000 less for a Titanium in 2011

A Ford dealer quoted you £26,000 for a petrol Focus Titanium?
Is this a wind up?

laidbackgjr

I would think you can get your self a brand new 3 series on PCP by handing in your car as a deposit and continue to pay about £360 a month to have a new car, or alternatively pay £10k and keep the car, or pay £10k to buy the car and sell privately for around £14k and use the £4k as a deposit on something new.

albionrovers

lucadobe wrote: »

whats the difference? I paid 2,000 deposit and £362 x 36 months =£13,608 with the £10,000 option at the end &interest of £3,500 cost £27,108..if I had bought the car outright would have cost me £23,600 anyway

The difference between a 2K and a 5K deposit is 3k? In my book anyway.

Strider590

lucadobe wrote: »

My BMW 's lease is up next year have been paying £360 a month and paid £5000 upfront and I am toying with what to do for the best, it will only have done 11,000 miles by that time so is it worth paying the remainder of £10,000 by then it will be 3 years old, I don't want to just hand back the car and walk away with nothing, other option is to get another ? my partner doesn't want to pay the remaining £10,000 but I feel the car has got to pay for itself and BMW's go on for a long time..anyone had this dilemma?

And that's the catch with these "deals", once your in it's very costly when you decide to stop having a new car every few years. Everyone who gets onto these schemes ends up thinking that exact same thing and then just goes back to playing the good little cash cow.

I would get out as soon as you can, "middle class" is just an illusion created to keep you debt. Live to your means, get out of debt and spend your £350 a month on more important things.

eschaton

lucadobe wrote: »

whats the difference? I paid 2,000 deposit and £362 x 36 months =£13,608 with the £10,000 option at the end &interest of £3,500 cost £27,108..if I had bought the car outright would have cost me £23,600 anyway

Did you pay list price or was there a discount factored into these costs?

If no discount, then you are paying far more than you could have negotiated on a standard deal.

I looked at a BMW Z4 M Sport about 6 weeks ago and got £5k discount before even thinking about haggling. Didn't go any further than that as I wasn't 100% on whether I wanted the car or not but would have been looking for another £2k off at least. List price of car was around £32.5k.

Ultrasonic

lucadobe wrote: »

however because its a BMW I just feel I need to keep it at just 11,000 miles on clock as they are good cars for going on and on....if we were talking Focus or similar I would be getting shot...

If you don't mind me saying, you seem a little obsessed about mileage. The longevity of a car really is of little concern for someone who drives as little as you. 'Getting shot' of a Focus after 11,000 miles for fear that this mileage was about to cause it to fail is a daft idea. Drive and enjoy a BMW (or similar) because it is a better car, but totally forget the going on and on part.

Strider590

Ultrasonic wrote: »

If you don't mind me saying, you seem a little obsessed about mileage. The longevity of a car really is of little concern for someone who drives as little as you. 'Getting shot' of a Focus after 11,000 miles for fear that this mileage was about to cause it to fail is a daft idea. Drive and enjoy a BMW (or similar) because it is a better car, but totally forget the going on and on part.

Bonkers isn't it.....

It's shocking how many people think they have to get rid of cars after a year or two.

I've got approximately 110'000 on the clock now, if I listened to gossip this car should have been scrap metal 50'000 miles ago.