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Post by racingteatray on Feb 24, 2021 17:15:50 GMT
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Post by Tim on Feb 24, 2021 17:32:19 GMT
It's a pity the car says it's done 1700 miles, their advert is wrong.
Also that 2 tone leather looks awful and the bank of radio switches looks as if it was stolen from another car plus it looks cheap.
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Post by racingteatray on Feb 24, 2021 18:07:59 GMT
I'm not an enormous fan of them. All reviews say they have a nice interior but I don't much care for it from the photographs.
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Post by Martin on Feb 24, 2021 18:24:39 GMT
That's a good spec and discount, but there's still a big price drop ahead, I think you'd get low £20s for it in 3 years. I don't like the two tone interior and having spent a week in both a current X5 and 3 series, I don't particulate like the new interiors anyway, specifically the controls and instruments. To be fair, it's not too bad (still hate the digital dials) in a 3 series but it's nowhere near good enough for a £60-70k+ car.
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Post by Big Blue on Feb 24, 2021 19:37:30 GMT
That’s very smart. I’m not a big fan but that’s not bad.
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Post by racingteatray on Feb 24, 2021 20:25:11 GMT
If you were in the market for a new car and would keep it 5+ years, that's got to be better than a new 440i GC for a similar price.
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Post by johnc on Feb 25, 2021 10:55:41 GMT
That is a hell of a lot of car, tech and FG for the money.
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Post by PetrolEd on Feb 25, 2021 13:06:24 GMT
Whats that going to be in the real world of finance though. Over a £1000 a month on a PCP?
There's a lot of choice at that money and an 8 Series would be so far down the list even in its sector, not that I know what sector it sits in.
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Post by johnc on Feb 25, 2021 13:28:31 GMT
Whats that going to be in the real world of finance though. Over a £1000 a month on a PCP? There's a lot of choice at that money and an 8 Series would be so far down the list even in its sector, not that I know what sector it sits in. Harry Fairbairn in Giffnock have one at just under £50K (March 2020 with 1800 miles) and it is £491/mth on PCP £579.69/mth on the one Racing highlighted |
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Post by Martin on Feb 25, 2021 14:03:14 GMT
Whats that going to be in the real world of finance though. Over a £1000 a month on a PCP? There's a lot of choice at that money and an 8 Series would be so far down the list even in its sector, not that I know what sector it sits in. Harry Fairbairn in Giffnock have one at just under £50K (March 2020 with 1800 miles) and it is £491/mth on PCP £579.69/mth on the one Racing highlighted What's the deposit? Because as think that's going to lose at least £30k over the next 3 years, which will be £950+ a month on PCP including the deposit. Will be less over 4 years of course. |
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Post by PetrolEd on Feb 25, 2021 14:14:30 GMT
Whats that going to be in the real world of finance though. Over a £1000 a month on a PCP? There's a lot of choice at that money and an 8 Series would be so far down the list even in its sector, not that I know what sector it sits in. £579.69/mth on the one Racing highlighted Without looking at a BMW calculator, how does that work? in 3 years time thats going to be worth in my estimation 25K, so thats 31K of depreciation, theres a 10k hole somewhere and that before you start adding the interest Edited, sorry Martin just seen your post |
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Post by Martin on Feb 25, 2021 14:21:52 GMT
£579.69/mth on the one Racing highlighted Without looking at a BMW calculator, how does that work? in 3 years time thats going to be worth in my estimation 25K, so thats 31K of depreciation, theres a 10k hole somewhere and that before you start adding the interest Edited, sorry Martin just seen your post We've got exactly the same numbers I've just done the maths properly. Including the deposit, assuming no further discount, no propping up of the GMFV and a residual value of £25k, it is £1,033 a month at 5% APR. (6% = £1,068 / 10% = £1,207 and probably impossible from BMW....3% = £964). |
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Post by PetrolEd on Feb 25, 2021 14:56:17 GMT
Without looking at a BMW calculator, how does that work? in 3 years time thats going to be worth in my estimation 25K, so thats 31K of depreciation, theres a 10k hole somewhere and that before you start adding the interest Edited, sorry Martin just seen your post We've got exactly the same numbers I've just done the maths properly. Including the deposit, assuming no further discount, no propping up of the GMFV and a residual value of £25k, it is £1,033 a month at 5% APR. (6% = £1,068 / 10% = £1,207 and probably impossible from BMW....3% = £964). I know Johns well up to speed on finance so not aimed in his direction. The monthly payment examples that make no mention of deposit. Like those great articles in Autocar every year that shows you how you can drive a Ferrari for the same monthlies as a mondeo. The fact you have to put 50K down on the Ferrari is always lost in the magazine and is why so many people get in a load of trouble where PCP is concerned. I offer HP with Balloon to a lot of customers but spell out quite clearly when I get heavy Balloons back from the funder that they are tacking the risk on the Balloon and not the bank. Any shortfall they are liable for and we might want to lower the back end to be safe but 9/10 people just want the lowest monthly payment. |
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Post by Martin on Feb 25, 2021 15:05:59 GMT
Back to the OP, £100k for a 40i 8 series is crazy, even with a decent discount which would take it down to just under £80k. Mind you, my 7 was in the OMFG depreciation category as it had a list price of c£115k and was down to £55k after 1,300 miles.
Unfortunately, but broadly as expected, the OMFG depreciation continued for the 2 years I owned it!
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Post by johnc on Feb 25, 2021 15:44:23 GMT
For Racing's car, the deposit is £8,534.85 over 4 years, £25,360 GFV and 10,000 miles a year. 2.9% apr.
It's all on the BMW website if you go in to the car and then drill down into the finance calculations.
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Post by Martin on Feb 25, 2021 15:55:42 GMT
For Racing's car, the deposit is £8,534.85 over 4 years, £25,360 GFV and 10,000 miles a year. 2.9% apr. It's all on the BMW website if you go in to the car and then drill down into the finance calculations. That's a very generous GFV and a fair APR, a used BMW that is likely to be cheaper to get on a PCP than cash. So only £760 a month, that's better. Looking at it again, surely that has the Ultimate Pack? It looks to have everything other than full leather. If that's the case, then list is £95k and it would cost £80k to order one new. Shows what the true value is and I agree, no way I'd pay £80k for one but at £55k with voodoo suspension, B&W etc etc it makes a lot of sense if you like the looks. |
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Post by PetrolEd on Feb 25, 2021 17:46:49 GMT
For Racing's car, the deposit is £8,534.85 over 4 years, £25,360 GFV and 10,000 miles a year. 2.9% apr. It's all on the BMW website if you go in to the car and then drill down into the finance calculations. That's a very generous GFV and a fair APR. Very generous, I know it’s a bit apple and oranges but what’s a 4/5year old 40,000 mile 640i gran coupe worth? No way near that. Someone’s being very brave setting those residuals (or desperate) |
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Post by Martin on Feb 25, 2021 18:03:30 GMT
That's a very generous GFV and a fair APR. Very generous, I know it’s a bit apple and oranges but what’s a 4/5year old 40,000 mile 640i gran coupe worth? No way near that. Someone’s being very brave setting those residuals (or desperate) They're all 640d, but £18-19k seems about right. Not quite that spec, but £18-19k is the retail price which would more than balance it out. |
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Post by racingteatray on Feb 25, 2021 18:25:45 GMT
For Racing's car, the deposit is £8,534.85 over 4 years, £25,360 GFV and 10,000 miles a year. 2.9% apr. It's all on the BMW website if you go in to the car and then drill down into the finance calculations. That's a very generous GFV and a fair APR, a used BMW that is likely to be cheaper to get on a PCP than cash. So only £760 a month, that's better. Looking at it again, surely that has the Ultimate Pack? It looks to have everything other than full leather. If that's the case, then list is £95k and it would cost £80k to order one new. Shows what the true value is and I agree, no way I'd pay £80k for one but at £55k with voodoo suspension, B&W etc etc it makes a lot of sense if you like the looks. The advert doesn't suggest it has the Ultimate Pack (some £22k), but the options listed include all the ones (including the more esoteric ones) from the Ultimate Pack. Yes, I'm sure it will be worth £20k-ish in four years time. But I expect that goes for most remotely similar ways you can spend £55k on a large 70-plate car, short of buying an SUV. I was more staggered by the "it's nearly halved in value in under six months" part. |
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Post by Martin on Feb 25, 2021 18:31:06 GMT
That's a very generous GFV and a fair APR, a used BMW that is likely to be cheaper to get on a PCP than cash. So only £760 a month, that's better. Looking at it again, surely that has the Ultimate Pack? It looks to have everything other than full leather. If that's the case, then list is £95k and it would cost £80k to order one new. Shows what the true value is and I agree, no way I'd pay £80k for one but at £55k with voodoo suspension, B&W etc etc it makes a lot of sense if you like the looks. The advert doesn't suggest it has the Ultimate Pack (some £22k), but the options listed include all the ones (including the more esoteric ones) from the Ultimate Pack. Yes, I'm sure it will be worth £20k-ish in four years time. But I expect that goes for most remotely similar ways you can spend £55k on a large 70-plate car, short of buying an SUV. I was more staggered by the "it's nearly halved in value in under six months" part. Yes, that's a big car / non-SUV problem, which is why buying nearly new makes sense. As I said, the 750 was less than half the list price when I bought it at 9 months old / 1,300 miles. I do think it's a good buy on the PCP deal. |
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Post by Roadrunner on Feb 25, 2021 18:35:30 GMT
Nothing has changed. When my dad bought his Jaguar Sovereign it was just over 12 months old and significantly less than half the price of a new one. It had clocked up some motorway miles, though.
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