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Post by johnc on Nov 29, 2017 9:45:00 GMT
I have been looking around a bit and some searches produced some interesting residuals. All are for 4 years and 8000 miles p.a. and rounded for ease.
E43 £19,500 C63 Coupe £23,000 C63 Saloon £22,500 M4 Comp £26,500 440i GC £17,250
The E43 is around £62K with extras and the two C63's are nearer £66K. The M4 is just over £70K and the 440i is about £52K as I would spec it (better than the others so perhaps slightly unfair). Apart from the 440i, which is about £8,500 a year in depn, the others are over £10K a year. That is obviously before any discounts which are approx.:
E43 £6,500 C63 £9,000 M4 £7,500 440i £10,500
When you factor in the discount, the depreciation per annum is approx.:
E43 £9,000 C63 £8,500 M4 £9,000 440i £7,000
I have concluded that I don't want to spend as much as that so I am now looking at something lightly used but with the proviso that the manufacturer's subsidise the interest rates on new cars (BMW 3.9%, Merc 4.9% and 5.9%) and it might cost a bit more to fund a used car. |
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Post by Martin on Nov 29, 2017 9:56:32 GMT
Interesting. Presumably that’s the PCP final payment, assuming there isn’t any equity in the car at the end? You should look at the figures when you put in 30,000 miles a year, it will make you feel a lot better!
If I was buying used I’d be really tempted to put a decent deposit down and take advantage of the lower interest rates you can get on sub £25k loans.
I had a text from my local dealer last week offering 0% finance on the 1 & 3 Series, which included the M3.
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Post by johnc on Nov 29, 2017 10:27:25 GMT
I explored the 0% on an M4 but it was only on stock cars (which all had "interesting" colour/spec combinations) and they wouldn't discount much at all if you took the zero percent.
I agree with you on the personal loan rates and that's the way I would normally do it. However on a high £60K car, that's a lot of money to find on top of the loan. Well specced M4's with delivery mileage are available in the low to mid £50K's so that's a £15K - £20K head start over a new one. My wife's X4 was over £18K off list and it has a residual about the same as a C63, so the PCP made a lot of sense after I got the interest rate down. |
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Post by PetrolEd on Nov 29, 2017 11:41:25 GMT
You can get used car PCP rates/residuals easily on the Lombard website and is the tool I generally use if looking at used rather then new. No the rates aren't at 2.9apr but not bad at around 5-6%
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Post by racingteatray on Nov 29, 2017 23:54:27 GMT
I went for the PCP because it was 2.9%APR and as you say the discounts on 440is are and were whopping. It was a complete no-brainer over the Merc/Jag/Audi alternatives.
I looked at nearly new but BMW was asking silly money for used 440is at the time (basically more than the discounted price on mine, plus at best double the APR) and I didn't want a 435i.
But it can work. A London-based friend who recently sprogged got in touch because he had decided they now needed a car and wanted to get a 500X. He initially wanted to get a new one and was keen on the fat discounts Fiat was offering (thick end of 20%, with 0% APR), but I suggested that he also try nearly new since depreciation on Fiats is fairly vertical and they weren't sure how long they wanted to keep the car (ie they might sell it again if they found that in fact they didn't use it much).
In the end he found a 66-plate 1.4 petrol Pop-Star (silly name) with 2.5k miles on the clock from a Fiat dealer for £11.5k (vs £19k new), which seemed a pretty handy saving, all-told.
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Post by alf on Dec 13, 2017 9:41:46 GMT
Why not just get one from the first column (i.e. 4 years old)? At retail prices they will cost more than that, quite a lot more (old shape C63's are still over £20k for a good one!!), but the main cost of running a car is depreciation and buying older gets you round that.
According to web sources like AT, the XFR is still work £15k ish as a trade-in, well over £16k retail. So that's not much over £3k p.a. depreciation, and while you need to factor in a grand a year for warranty or take pot luck, its still well less than half the depreciation referred to above!
I'm still struggling to see the downsides. I have an old-school dash (not that the new Jag dash and nav is especially good). And that's it really. Nothing about it looks, feels, or drives like an "old" car and its a 2011 on 82k miles now. Definitely the route I'll continue to take, snapping up cars like the XFR, M6, Guilia QF, and so on at 3-5 years old, partly depending on which ones have dropped value the fastest. i love the idea of a new car but the maths never, ever work out - especially if you do 20k a year and want something seriously rapid.
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