M2 deal good/or bad?

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FJCarter92
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Re: M2 deal good/or bad?

Post by FJCarter92 » Thu Mar 01, 2018 3:52 pm

wenklaw wrote:
Thu Mar 01, 2018 3:46 pm
FJCarter92 wrote:
Thu Mar 01, 2018 3:39 pm
wenklaw wrote:
Thu Mar 01, 2018 3:34 pm

unless you have a very low GFV of circa £19k which is good and bad dependant on how you look at things.

My advice to anyone is this, first question, interrupt the salesman if need be, how much is the total cost of the car, without finance and without his magic calculator working out man maths If in this case its what I suspect to be £50k, then laugh and walk away
It's up for £46,200
GFV of approx. £21500 which is low for that spec car. The reduction in what would normally be a approx. £26k GFV means you aren't really paying any less per month than someone who purchased for £49500 and has a higher GFV of £26k if you get my drift. Factor in if you intend to keep long term adds to the complications.

Basically I have seen better deals on here done, lower total cost of car although you do have a sunroof which is costly (and great!!I have one) but more importantly higher GFV for similar spec M2's
I wouldn't keep the car for 48 months anyway tbh. Yeah I had a sunroof in my M235i and loved it!

Looks like i'll be shopping around even more then *sigh*
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CaptFish
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Re: M2 deal good/or bad?

Post by CaptFish » Thu Mar 01, 2018 4:21 pm

Not a good deal, particularly if interested in the PCP only. Mine was about £5k less and not pre register. You will need gap insurance for a pre register car from the beginning as well - insurance does not apply new car cover for pre registered cars.

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Re: M2 deal good/or bad?

Post by FJCarter92 » Thu Mar 01, 2018 4:37 pm

CaptFish wrote:
Thu Mar 01, 2018 4:21 pm
Not a good deal, particularly if interested in the PCP only. Mine was about £5k less and not pre register. You will need gap insurance for a pre register car from the beginning as well - insurance does not apply new car cover for pre registered cars.
Where did you get yours, may be worth an ask?
M235i | Mineral Grey | Coral Red | Carbon Spoiler | Carbon Mirrors | Carbon Diffuser | MP Splitter | Matt Black 624 Alloys | Black Gloss Kidney Grills | MPE | Sunroof | F&R PDC | Heated Electric Memory Seats | Powerfold Mirrors

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sootyvrs
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Re: M2 deal good/or bad?

Post by sootyvrs » Thu Mar 01, 2018 4:59 pm

I think there can be other factors which determine if you have a good deal or not (compared to others that is)..

If you have a p/x its the cost to change figure that is important..

One dealer could be offering an M2 for £46k and another £43k for the same spec but if the higher prices dealer offers £3k more for your car then the net result is the same... One could argue you got the car the £46k car for £43k but invoice says £46k which may only equate to 5% discount but in reality can be much more

Finance APR is the other factor but this can be seen as separate deal to be negotiated as APR vary from 3.9 to 10.8 APR on used (inc pre reg delivery mileage cars) BMW

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Re: M2 deal good/or bad?

Post by CaptFish » Thu Mar 01, 2018 5:37 pm

FJCarter92 wrote:
Thu Mar 01, 2018 4:37 pm
CaptFish wrote:
Thu Mar 01, 2018 4:21 pm
Not a good deal, particularly if interested in the PCP only. Mine was about £5k less and not pre register. You will need gap insurance for a pre register car from the beginning as well - insurance does not apply new car cover for pre registered cars.
Where did you get yours, may be worth an ask?
TLR, excellent delivery. No problems whatsoever, probably the easiest car purchase experience.

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Re: M2 deal good/or bad?

Post by andyeds1234 » Thu Mar 01, 2018 6:13 pm

CaptFish wrote:
Thu Mar 01, 2018 4:21 pm
Not a good deal, particularly if interested in the PCP only. Mine was about £5k less and not pre register. You will need gap insurance for a pre register car from the beginning as well - insurance does not apply new car cover for pre registered cars.
You paid £41200 for a new DCT car, with those options?
That's the best deal I have heard of by some way.
I haven't heard of anyone getting a new car for less than £43k with that spec :thumbs:

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Re: M2 deal good/or bad?

Post by CaptFish » Thu Mar 01, 2018 6:27 pm

No, I paid £100 less per months with comparable spec and same deposit. Over the run time of the PCP that's £4800 less than the OP offer - and it was a brand new car.

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Re: M2 deal good/or bad?

Post by NISFAN » Thu Mar 01, 2018 6:33 pm

wenklaw wrote:
FJCarter92 wrote:
Thu Mar 01, 2018 3:39 pm
wenklaw wrote:
Thu Mar 01, 2018 3:34 pm
unless you have a very low GFV of circa £19k which is good and bad dependant on how you look at things.

My advice to anyone is this, first question, interrupt the salesman if need be, how much is the total cost of the car, without finance and without his magic calculator working out man maths If in this case its what I suspect to be £50k, then laugh and walk away
It's up for £46,200
GFV of approx. £21500 which is low for that spec car. The reduction in what would normally be a approx. £25-£26k GFV means you aren't really paying any less per month than someone who purchased for £49kish and has a higher GFV of £26k if you get my drift. Factor in if you intend to keep long term adds to the complications.

Basically I have seen better deals on here done, lower total cost of car although you do have a sunroof which is costly (and great!!I have one) but more importantly higher GFV for similar spec M2's
The GFV is related to mileage per year. At 12,000 it’s probably much higher than most folks....hence lower GFV.
Monthlies are also reflected in the annual mileage, so pointless for people say they pay less as a single reference point.


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andyeds1234
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Re: M2 deal good/or bad?

Post by andyeds1234 » Thu Mar 01, 2018 6:56 pm

Ah ok, that makes sense.
You would be paying £5k less over the agreement, rather than £5k less upfront. 👍
Given variations in mileage, deposits etc, invoice price of the car and Finance APR is probably easiest for comparisons. As someone else said, PX over/under valuation is the only variable then.
CaptFish wrote:
Thu Mar 01, 2018 6:27 pm
No, I paid £100 less per months with comparable spec and same deposit. Over the run time of the PCP that's £4800 less than the OP offer - and it was a brand new car.

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Re: M2 deal good/or bad?

Post by CaptFish » Thu Mar 01, 2018 7:14 pm

Sorry, maybe I should have made that clearer. Obviously can't compare if you want to keep car, then overall cost should be taken into consideration.

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Re: M2 deal good/or bad?

Post by wenklaw » Fri Mar 02, 2018 9:30 am

NISFAN wrote:
Thu Mar 01, 2018 6:33 pm
wenklaw wrote:
FJCarter92 wrote:
Thu Mar 01, 2018 3:39 pm


It's up for £46,200
GFV of approx. £21500 which is low for that spec car. The reduction in what would normally be a approx. £25-£26k GFV means you aren't really paying any less per month than someone who purchased for £49kish and has a higher GFV of £26k if you get my drift. Factor in if you intend to keep long term adds to the complications.

Basically I have seen better deals on here done, lower total cost of car although you do have a sunroof which is costly (and great!!I have one) but more importantly higher GFV for similar spec M2's
The GFV is related to mileage per year. At 12,000 it’s probably much higher than most folks....hence lower GFV.
Monthlies are also reflected in the annual mileage, so pointless for people say they pay less as a single reference point.


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Exactly mate. For me total cost of the car is number one, then go from there if taking finance, GFV etc.

For me this is where PCP's need to be better regulated, maybe they are and dealers aren't doing their job properly? Dealers shouldn't be able to sell cars or quote figures without clearly laying down the cost of the car in writing, email and also the cost of the car inc interest and APR, GFV (if a PCP not a hire purchase) This though looking at so many posts oh here isn't being done or people just don't seem to care as people continually just post monthlies which IMO is nowhere near a big enough picture if spending £5k let alone £45k.

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Dad

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sootyvrs
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Re: M2 deal good/or bad?

Post by sootyvrs » Fri Mar 02, 2018 9:50 am

Financing is regulated in the UK which is why we have APR which includes all costs (Admin fees etc..) There are no finance documents in the UK you sign which doesn't include the APR

You only have to ask the dealer for a written quote with APR and they will send you it.. Only if you don't ask for the written quote they are happy to send you numbers without it but it's up to you to ask.. I suspect not having to ask for it is what you are refering to about regulating?

Remember that dealers can have lots of enquiring about cars which may lead to nothing and the amount of additional work to send everyone out a written quote can take a lot of their time and effort! I suspect the people who are really interested should take it upon themselves to get something in writing before commiting to anything :)
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2018 F87 BMW M2 DCT
2017 F21 BMW M140i Auto
2015 F56 Mini Cooper S Man
2013 F20 BMW M135i Auto
2010 R56 Mini Cooper D Man
2007 E87 BMW 130i Man

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