[PF64]

£50 a month on 3+23 contract hire - I think not.

[rich1068]

As the 330d M Sport is quite heavily supported by BMW on contract hire via BMW Finance/Alphabet I really didn't mind. The low(ish) starting cost allowed me to add the bells and whistles. In fact the F30 330d with my chosen extras is working out about a fiver a month less than my E91 320d Sport Plus with much the same options.

[TMP]

Originally Posted by rich1068

As the 330d M Sport is quite heavily supported by BMW on contract hire via BMW Finance/Alphabet I really didn't mind. The low(ish) starting cost allowed me to add the bells and whistles. In fact the F30 330d with my chosen extras is working out about a fiver a month less than my E91 320d Sport Plus with much the same options.

Are these great Ch deals still in place then mate? Can you recall the base monthly payment for the 330d on your deal? Cheers

[MarkW83]

Originally Posted by TMP

Are these great Ch deals still in place then mate? Can you recall the base monthly payment for the 330d on your deal? Cheers

The quote I got on 1+47 was £479+vat I think, with a good spec (pro nav, adaptive suspension, electric seats, comfort access, visibility, comfort, HK, folding mirrors, sun protections glass, sliding armrest).

[TMP]

Originally Posted by MarkW83

The quote I got on 1+47 was £479+vat I think, with a good spec (pro nav, adaptive suspension, electric seats, comfort access, visibility, comfort, HK, folding mirrors, sun protections glass, sliding armrest).

Pretty good...how many miles p.a. is that?

Cheers

[MarkW83]

Originally Posted by TMP

Pretty good...how many miles p.a. is that?

Cheers

It was for 10k miles/year. I'd have done CH again this time, but I needed my finance settling on the 135i, which was about £4k short after the part-ex price (best px from the 3 dealers I was in touch with), so they discounted the car by that amount (actually more) to cover the shortfall, which CH couldn't do as they didn't have any flexibility to do a "deal"...

[johnbmw6]

Originally Posted by MarkW83

It was for 10k miles/year. I'd have done CH again this time, but I needed my finance settling on the 135i, which was about £4k short after the part-ex price (best px from the 3 dealers I was in touch with), so they discounted the car by that amount (actually more) to cover the shortfall, which CH couldn't do as they didn't have any flexibility to do a "deal"...

Quick short change of subject: Mark are there any advantages in PCP over a short peroid say 18 months?.
I usually buy cash and get good PX prices, but change cars within 12/18 months.

[MarkW83]

Originally Posted by johnbmw6

Mark are there any advantages in PCP over a short peroid say 18 months?.
I usually buy cash and get good PX prices, but change cars within 12/18 months.

John, I have PCP on my current 135i which I've had for 16 months, original cost was just short of £40k as it was optioned-up, and the required settlement last month was approx. £4k over the best part-ex price I was offered. So, I've "lost" £4k+the monthly repayments I've been paying on it (£575x16 = £9200), so a total of £13,200, in those 16 months. The part-ex price, however (best part-ex price I've got from 3 dealers), was £22,500 after the 16 months. So if it was a cash deal, I would have lost £17,500.

On the new PCP for the 330D, my deposit was £1k, with the same monthly repayments as the last PCP on the 135i, so total "lost" (not all lost as I've obviously used the car for 16 months, and obviously the £4k finance settlement shortfall was covered by the dealer, though that would have been money in my pocket/discounted off the car/reducing the monthly repayments, otherwise) was £14,200 (vs £17,500 if paying cash), so a difference of £3,300 (assuming your cash would otherwise have been just sitting in the bank, rather than gaining interest or being invested elsewhere, which is obviously even more of an advantage to using the PCP!).

That's even with the interest rates of both PCPs obviously taken into consideration with the settlements and monthly repayments (and the APR was considerably higher on the 135i PCP than the 3.9% offered on the 330d), so if it was 3.9% on both the old and new cars, the difference would be even more.

So, if you're looking to change cars in short periods, particularly with the low APR offered on the PCP by BMW at present - and the extra flexibility and movement meaning they're perhaps more likely to do you a "deal" on the PCP, as they obviously get commission on the actual PCP finance as well - you may be better keeping your money in the bank and going for a PCP in the future (assuming the rates are good at that point, usually the last quarter of the year I think)?

If you were intending keeping your car for closer to the full term, I'm not sure if PCP would be better then, given the balloon payment (about £15k I think on my 330d); but for your case, I think it would be better financially, and you also get to hold onto your capital...

[johnbmw6]

Originally Posted by MarkW83

John, I have PCP on my current 135i which I've had for 16 months, original cost was just short of £40k as it was optioned-up, and the required settlement last month was approx. £4k over the best part-ex price I was offered. So, I've "lost" £4k+the monthly repayments I've been paying on it (£575x16 = £9200), so a total of £13,200, in those 16 months. The part-ex price, however (best part-ex price I've got from 3 dealers), was £22,500 after the 16 months. So if it was a cash deal, I would have lost £17,500.

On the new PCP for the 330D, my deposit was £1k, with the same monthly repayments as the last PCP on the 135i, so total "lost" (not all lost as I've obviously used the car for 16 months, and obviously the £4k finance settlement shortfall was covered by the dealer, though that would have been money in my pocket/discounted off the car/reducing the monthly repayments, otherwise) was £14,200 (vs £17,500 if paying cash), so a difference of £3,300 (assuming your cash would otherwise have been just sitting in the bank, rather than gaining interest or being invested elsewhere, which is obviously even more of an advantage to using the PCP!).

That's even with the interest rates of both PCPs obviously taken into consideration with the settlements and monthly repayments (and the APR was considerably higher on the 135i PCP than the 3.9% offered on the 330d), so if it was 3.9% on both the old and new cars, the difference would be even more.

So, if you're looking to change cars in short periods, particularly with the low APR offered on the PCP by BMW at present - and the extra flexibility and movement meaning they're perhaps more likely to do you a "deal" on the PCP, as they obviously get commission on the actual PCP finance as well - you may be better keeping your money in the bank and going for a PCP in the future (assuming the rates are good at that point, usually the last quarter of the year I think)?

If you were intending keeping your car for closer to the full term, I'm not sure if PCP would be better then, given the balloon payment (about £15k I think on my 330d); but for your case, I think it would be better financially, and you also get to hold onto your capital...

Very good information Mark thanks I will be looking into this.

[MaestroAl]

Well said Mark, that's a really good mini-write-up there matey

[MarkW83]

Took a bit of getting down but hope it's clear enough!! The dealer usually pushes the PCP in the first instance (as you've all probably found) as they'll be targeted (and commissioned) for that as well as the cars, which could steer you away from it as finance never usually tends to be the better deal, but it looks like it is in this case, depending on how long you'll keep the car.

If you actually work it out as I have done above, with these low interest rates - depending on how often you usually change your car, and what you'd be doing with the "cash" otherwise - it's actually a really good deal for many of us Of course, buying any new car is daft - the monthly repayments, and/or the value it will lose in such a short period, are ridiculous. But if we insist on wanting the latest and greatest every couple of years, to make - as someone else on here said recently - our lives a bit more enjoyable until the "grim reaper" comes calling, then the PCP is seemingly the best option (out of the choice available) in a lot of cases

[rich1068]

Originally Posted by TMP

Are these great Ch deals still in place then mate? Can you recall the base monthly payment for the 330d on your deal? Cheers

I wouldn't say they're great like some of the ridiculously low Merc deals (which I'm sure will come back to bite them) but for BMW they are keen.

Base price on the F30 330d M Sport with metallic was £340.21 plus VAT on 3+47 through BMW Finance/Alphabet. But it's starting to creep up. In fact it went up a couple of quid in the few days it took me to make up my mind.

:edit:

Meant to say, 10k per year.

[TMP]

Originally Posted by rich1068

I wouldn't say they're great like some of the ridiculously low Merc deals (which I'm sure will come back to bite them) but for BMW they are keen.

Base price on the F30 330d M Sport with metallic was £340.21 plus VAT on 3+47 through BMW Finance/Alphabet. But it's starting to creep up. In fact it went up a couple of quid in the few days it took me to make up my mind.

:edit:

Meant to say, 10k per year.

Cheers mate. The deal I got back in August was £275+vat, for 10k a year on a 330d M sport with free xenons but that was a 6+23. Not sure how that compares to a 3+47.

[MaestroAl]

Wasn't that the deal that evaporated though? There was one company offering ridiculously low deals then reneged on them or something as I remember?

[TMP]

Originally Posted by MaestroAl

Wasn't that the deal that evaporated though? There was one company offering ridiculously low deals then reneged on them or something as I remember?

No a different broker and cars are now being delivered! Miine would have arrived in 2 weeks after yours

But as you know I am impatient (well selling mine too early and the hire car Astra didn't help)

[MarkW83]

TMP: any regrets for not waiting for the 330d?

[MaestroAl]

Not that he's gonna admit to

[rich1068]

Originally Posted by TMP

Cheers mate. The deal I got back in August was £275+vat, for 10k a year on a 330d M sport with free xenons but that was a 6+23. Not sure how that compares to a 3+47.

That is very cheap. To be honest I would have viewed that with extreme suspicion. But that's just me.

I know you're experienced at these things TMP but sometimes I see prices on eg contracthireandleasing.com and think 'Yeah, right'. Often looking at the detailed quote shows it's not as good as it looks.

[TMP]

Originally Posted by MaestroAl

Not that he's gonna admit to

Actually, if you read my m135i thread yes I do have regrets

But I am loving the M135i, just very attached to the 330d! Unlike you, I can accept there are other good options apart from a 330d

[F30AM]

Originally Posted by TMP

Actually, if you read my m135i thread yes I do have regrets

But I am looing the M135i, just very attached to the 330d! Unlike you, I can accept there are other good options apart from a 330d

Tell me when you flush it down the toilet.

Originally Posted by TMP

Cheers mate. The deal I got back in August was £275+vat, for 10k a year on a 330d M sport with free xenons but that was a 6+23. Not sure how that compares to a 3+47.

Originally Posted by MaestroAl

Wasn't that the deal that evaporated though? There was one company offering ridiculously low deals then reneged on them or something as I remember?

Friend of mine went for that and they DID renege on it many weeks later and he 'lost' the car.

[TMP]

Originally Posted by F30AM

Tell me when you flush it down the toilet.

Uh how, very funny!

Originally Posted by F30AM

Friend of mine went for that and they DID renege on it many weeks later and he 'lost' the car.

Who was the broker, as we should all make sure avoid!?

My deal was with Solent leasing, and a friend got his car 2 weeks . So I guess it was safe with a reputable broker and dealer. I got in on the deal on the last day, hence my order was delayed so much.

[F30AM]

Originally Posted by TMP

Who was the broker, as we should all make sure avoid!?

I think it was Central.