Rybrook bmw offer

Mrjuls33

Just wondering what peoples thoughts are on this pcp deal

Brand new bmw 1 series m sport shadow eddition has £7000 dealer contribution towards deposit on a 4 year PCP deal looking on auto trader nothing gets near the cost of the new bmw essentialy £21k for the car so £290 P/M over 4 years.

jonesMUFCforever

What is the balloon at the end?

System

Mrjuls33 wrote: »

essentialy £21k for the car so £290 P/M over 4 years.

No, essentially your deposit contribution plus the £13920 in payments to hire the car for 4 years with no car at the end unless you find the balloon payment which you've not stated.

Mrjuls33

Baloon is £10520

jimbo26

So to own the car it will cost £13920 plus £10520, plus whatever deposit you need.

Or to rent the car for 4 years £13920 plus the deposit.

In my opinion not a great deal. But if you think it is go ahead, after all it is entirely your choice.

MEM62

Mrjuls33 wrote: »

Just wondering what peoples thoughts are on this pcp deal

Brand new bmw 1 series m sport shadow eddition has £7000 dealer contribution towards deposit on a 4 year PCP deal looking on auto trader nothing gets near the cost of the new bmw essentialy £21k for the car so £290 P/M over 4 years.

The value of the car, either new or residual, is irrelevant as you are effectively renting it. The question you need to answer is, am I happy to pay £290 per month to lease this car.

Mr.Generous

MEM62 wrote: »

The value of the car, either new or residual, is irrelevant as you are effectively renting it. The question you need to answer is, am I happy to pay £290 per month to lease this car.

If you paid cash for one what would the depreciation be approx?

I used to think lease deals were poor value, but if you want to change your vehicle every 3 years or so it might be better than buying one.

I have a inkling to lease an Infiniti, I don't know why, I wouldn't pay a huge sum for a new one, but at say £300 a month - yeah I could see that as being a fixed sum I could pay. I haven't looked yet, so don't shoot me down with service costs and whatever loading it up - anything over £400 a month and I think I'd leave it.

shortcrust

On behalf of those of us who always buy used cars, I say go for it!;)

parking_question_chap

Mrjuls33 wrote: »

Just wondering what peoples thoughts are on this pcp deal

Brand new bmw 1 series m sport shadow eddition has £7000 dealer contribution towards deposit on a 4 year PCP deal looking on auto trader nothing gets near the cost of the new bmw essentialy £21k for the car so £290 P/M over 4 years.

Thoughts on the deal aside for one minute.

After a bit of research it seems you had about £25,000 debt in 2015 and you have done really well do get this down to something over £5,000.

I dont understand why you are now intending to create yourself new problems buy getting an expensive car on pcp. I think the most important question to ask yourself is, do I really need a brand new BMW?

MEM62

Mr.Generous wrote: »

If you paid cash for one what would the depreciation be approx?

I used to think lease deals were poor value, but if you want to change your vehicle every 3 years or so it might be better than buying one.

I have a inkling to lease an Infiniti, I don't know why, I wouldn't pay a huge sum for a new one, but at say £300 a month - yeah I could see that as being a fixed sum I could pay. I haven't looked yet, so don't shoot me down with service costs and whatever loading it up - anything over £400 a month and I think I'd leave it.

PCP works for many people. My sister loves the arrangement but she is financially secure and would not get caught out should her circumstances change. For many it puts them into the driving seat of a car that is better than they could otherwise afford so I can see why the deals look attractive.

The reason that I am not in favour is that you are always paying but you never have an asset. The car is never yours. Also, how many posts have we had from people that have taken PCP arrangements and then bemoan the fact that their 'circumstances have changed' and they are trapped in the deal - often with significant negative equity.

To lay all my cards on the table I am actually not a fan of any kind of finance on a car - particularly one that is new or nearly new. The loss due to depreciation on these vehicles is significant. Then add the fact that you are paying interest to buy this asset with a value that drops like a stone and the whole plot just make no sense to me.

I have recently given up a company car after having one for the past two decades. I did not buy a new car on finance. Instead I paid cash for a 7 year old car with 50,000 miles on it. The depreciation over the next three years or so will not be huge and at that point I will probably move it on and upgrade to a younger vehicle again. This is going to cost me far less than £290 per month.

Mobeer

It's a reasonable discount if this is the car you actually want and you can afford it....

You worked out £290 per month; I tend to think more like:
299+47*299+1+10578.18 = £519 per month over 48 months

[Customer deposit is £299 with a £1 fee on purchase.]

Aside from the monthly cost, I also note:
- leather in the video advert is an optional extra
- example is for "specially selected 1 Series models in stock"
- terms and conditions say "registered by 30th December 2018"; I guess this is just out of date small print
- for all the fancy upgraded brakes, it remains a 118i with a 1.5 three cylinder engine
- the current 1-series production is expected to end around June to be replaced by a new model around September; this will hurt values