[jav_ski]

So after 3 years with the 335d - I was called into the dealership for that "financial review before your warranty ends" chat.
Now I was looking to VT anyway as I have been driving the car less and less in the last couple of years. The salesperson actually looked shocked when she asked how many miles were on the clock and I said 13k (she thought I said 30k and I had to repeat myself three times).
Well after the "financial review" oh hell look I was in negative equity what a bloody surprise ... but my nice dealership would just look beyond that if I purchased another car. Well after a bit of this and that .. I specced up a 540 with 16k worth of options and an X5 with the same ... got 19% knocked off both and then sat back and looked at the figures. You could have knocked me down with a feather 900quid a month for both ... a friend doesn't pay that for his Range Rover SVR and even the sales person said well for that price I could put you in an M5. So why so high because the finance company are hiking up the monthlies due to the residuals not being so good now (brexit and all that).
Anyway after a long chat with friends/family etc I was convinced that the maybe 2000 miles I was now doing a year didn't need a 60k all singing dancing car. So I went back to the nice salesperson and gave a checklist
New car
Some options
24 month agreement no more ( so if I did want to jump into the 60k all singing and dancing one I didn't have to wait long)
And no more than 500 quid a month
So I now own a
F36 LCI yet to be registered
420i
Mineral Grey
Technology package
Premium package
M sport plus package
Exterior folding mirrors

Gonna miss that 335d xdrive but alas have to move on (end of long story)

[aquazi]

On your 335d what was the annual mileage set as?

If you where say meant to be on 45k miles but only had 15k miles i would say you wouldnt be negative... might have been better just buying it.

[330XDave]

So how much are you actually paying? If you are paying near on £500 a month for a soon to be outgoing model with a vanilla engine and 2k miles a year it sounds like they've had your pants down!

[Abrek]

Originally Posted by 330XDave

So how much are you actually paying? If you are paying near on £500 a month for a soon to be outgoing model with a vanilla engine and 2k miles a year it sounds like they've had your pants down!

Have to agree, I would have just kept F30 for another year. Sounds like it would have been cheaper

[JustChris]

Sounds like a sensible approach.

Those £900 a month figures are crazy!!

[jav_ski]

Originally Posted by Abrek

Have to agree, I would have just kept F30 for another year. Sounds like it would have been cheaper

I am paying just shy of the 500 a month - the reason being that I won't tie myself into a 36 or 48 month contract - even though the monthlies would be lower, I would be paying as much back in interest but tying myself in for longer before I can VT.

I also know the new 4 is coming out in 2021 along with maybe the i4. However by that time I will be close to coming out of the contract and can look at that too. Yes the only downside is the engine on the 420i - however the worse case scenario is I can remap it (278bhp). Which is still cheaper over all taking into account the price hike and interest to be paid over the long term for the equivalent upgrade to maybe a 425i.

I really didn't want to buy the F30 and go through the hassle of either selling it myself or keeping it - I bought it as stock and was quite naive when I initially ordered it, missed out some options (even heated seats) so I may have resented having it in the end.

[330XDave]

Ok so this is a 24 month lease deal?

[aquazi]

£500 pm on a 420i lease does sound expensive.. what mileage limit is that on?

Also on a lease i would be weary of remapping it - better off with a box you can remove and then claim ignorance if detected!!

[jav_ski]

Originally Posted by 330XDave

Ok so this is a 24 month lease deal?

Yes mate PCH
I was offered a 520d on a 36 month PCP with the option to VT at 30months - list price minus a 17% discount with deposit of 5k still put the monthlies at £589 a month. It's the residuals that are killing deals right now.

As an experiment I asked the sales person to put in an equivalent new 3 as mine with the same list price minus discount, term and % rate over a 48 month period as I had before - the monthlies were 150 quid higher 😳

[dopper99]

Originally Posted by 330XDave

Ok so this is a 24 month lease deal?

You are right about a lease. What he wants fits exactly the profile of a lease car. Low mileage and 2 years ownership.

I can’t help thinking he could get a much better deal than nearly £500 a month ......

https://www.selectcarleasing.co.uk/c...delyear=201925

However thinking about it, I guess that isn’t a like for like comparison as the £500 that the op is paying will no doubt have the negative equity built into it from his current car.

[norman1979]

Mate you have had your pants down.

You could have got into a 5 series for £400 per month over 12 months (including deposit)

[aquazi]

Originally Posted by dopper99

You are right about a lease. What he wants fits exactly the profile of a lease car. Low mileage and 2 years ownership.

I can’t help thinking he could get a much better deal than nearly £500 a month ......

https://www.selectcarleasing.co.uk/c...delyear=201925

However thinking about it, I guess that isn’t a like for like comparison as the £500 that the op is paying will no doubt have the negative equity built into it from his current car.

I read that as he is VT'ing his current car.

A 24 month lease (admittedly with no options - which will really hit the monthlies) @5kpa for an F36 can be had for as little as £1K down £320pm.

[Busted]

Wow...this is a terrible deal!

You could lease a 420i for 440pm over 24 months with 12k pa when they very first came out

I hate to say it but your sales guy is probably laughing his head off

[doncarlyon]

I'd be cancelling that order immediately, absolutely crazy money!

[Watsey]

OP, what was the deposit and monthlies on the 335 ?

[aquazi]

Upon reflection.. the pricing for a lease isnt too ridiculous...

That car has over £5000 worth of extras... which over 24 months will probably add £210pm to the usual lease price.... (based on select car leasing its £2K down and £320pm)

[330XDave]

Originally Posted by aquazi

Upon reflection.. the pricing for a lease isnt too ridiculous...

That car has over £5000 worth of extras... which over 24 months will probably add £210pm to the usual lease price.... (based on select car leasing its £2K down and £320pm)

I suppose that leads on nicely to the next question... why spec so many options on a 2 year lease? Seems like throwing money away somewhat.

[aquazi]

Originally Posted by 330XDave

I suppose that leads on nicely to the next question... why spec so many options on a 2 year lease? Seems like throwing money away somewhat.

Same could be said (to a lesser degree) on the 4 year PCP I guess... if you can afford to then why not!

Have a bit of comfort/ gadgets in those 2 years of motoring.

Also I guess with a lease you still have the option to buy at the end - not sure many would though.

[330XDave]

Originally Posted by aquazi

Same could be said (to a lesser degree) on the 4 year PCP I guess... if you can afford to then why not!

Have a bit of comfort/ gadgets in those 2 years of motoring.

Also I guess with a lease you still have the option to buy at the end - not sure many would though.

I assume you mean with a pcp you can buy at the end?

I'd say it's different myself. Options specced on a 2 year lease means you are guaranteed to pay full price for them for only 2 years use. Options specced on a 4 year pcp means that firstly you are going to enjoy them for longer and secondly even if the GFV remains the same with the options specced, the actual part ex value or resale would probably be a bit higher.

[DB118D]

Were the £900 a month numbers inclusive of them swallowing your negative equity in PX?

Or was that the cost even when you were VT'ing your 335d?

Either way, £500 a month for a 420i seems a very, very expensive exercise. Granted, it's a 24 month deal and not the usual 48 month PCP deal, but still...........

[KCH1984]

Originally Posted by DB118D

Were the £900 a month numbers inclusive of them swallowing your negative equity in PX?

Or was that the cost even when you were VT'ing your 335d?

Either way, £500 a month for a 420i seems a very, very expensive exercise. Granted, it's a 24 month deal and not the usual 48 month PCP deal, but still...........

Agreed - give the dealer a list of requirements and a budget and you're going to get minimal car for maximum monthlies! Sounds like the negotiation was a bit back to front...

[Watsey]

Originally Posted by KCH1984

Agreed - give the dealer a list of requirements and a budget and you're going to get minimal car for maximum monthlies! Sounds like the negotiation was a bit back to front...

Absolutely. First rule of negotiating price - never, ever, disclose your budget.