bmw finance

paddy96

Am I being unreasonable thinking that I should be able to get the same (if not very close ) deal as a private buyer as to what a business finance deal would pay?

Iceweasel

BMW's current finance rates for hire purchase are between 4.2% and 5.8% for a private customer.

What % does a business get?

paddy96

Not sure on the business % but I am going to a garage on Saturday and want to have my facts and figures ready before we sit down. From what I can see I am able to pay around about £325 per month for a £38000 car if I were a business customer with a £2000 upfront cost. However they are showing offers for personal finance at around the £425 mark.
Is this just numbers for the web or are these prices I can expect to remove a considerable amount from!

loskie

You are forgetting to add 20% VAT to the business price to compare with personal

k3lvc

paddy96 wrote: »

Not sure on the business % but I am going to a garage on Saturday and want to have my facts and figures ready before we sit down. From what I can see I am able to pay around about £325 per month for a £38000 car if I were a business customer with a £2000 upfront cost. However they are showing offers for personal finance at around the £425 mark.
Is this just numbers for the web or are these prices I can expect to remove a considerable amount from!

Have you factored VAT into your calculations ?

OK - beaten to it but it just reinforces the point

paddy96

Thanks loskie and k3lvc . That still seems a fair chunk to negotiate of the price considering I will be putting £7000 deposit down compared to £2000 for the business finance.

k3lvc

So your £425 is based on £7k deposit vs £325/£2k deposit on the same vehicle with same mileage/term/balloon payment etc

paddy96

I am 99% sure the figures are comparable the only thing is I presume that there would be no balloon payment for the business term as it would just be returned . i just feel I am missing something or I should be aiming to try and get the cost close to the business terms.

k3lvc

I think you're missing something TBH but interested how you get on

paddy96

Yes I agree it does feel like the cost difference is an awful lot. And like you say I feel like I'm missing something but can't see what. hence me putting this post up. I'll keep you updated

zappahey

Are you talking about a private lease or a PCP deal?

Don't forget that, with the PCP deal, you are paying interest on the whole value of the deal including the balloon payment. I don't know enough about leasing but the same might not be true there.