[walker1971]

Hi

I guess I already know the obvious answer I should have gone to other places and got prices but this is my forth bmw from this dealer so I just hoped this seems like a ok deal, but I can always pull out if I need to.

M340i saloon every available option has been included apart from sunroof and toward, on pcp £449 per month at 6k miles per year with me putting in 3k cash and giving in my g20 330d saloon on a 69 plate with 66k miles on which has the full m performance kit and wheels on so they are giving me £19k they say the kit has no value (which I do believe is total nonsense) but of course I can sell private if I think I can get more so total is 22k deposit

Has anyone else done deals for m340i with similar costs ?

Also they seem to have got rid of the carbon roof option on the m340i ? Which I wanted and only seem to do this on the m440i now sales guy assures me this is the case.

Just want any thoughts on the price ect and the deal, happy to hear negative thoughts on it, I did try another dealer waited 2 days before they even replied and another two days later and still no price so hence went ahead and paid the £1k deposit.

Looking forward to your reply’s and thoughts

Cheers

[Pug2791]

You don’t say how many years the deal is over or if there is a final payment at the end?

[walker1971]

Yes sorry this is 48 months on pcp so yes a final payment at the end if I want to buy think it is around 26k at the end

[xenon]

Not really sure of the market nowadays but £44k for three year’s use sounds a lot.

[walker1971]

48 months 4 years

[Nham68]

Originally Posted by walker1971

48 months 4 years

What is the interest rate you’re paying ?
You can only tell if it’s a good deal by the initial purchase cost (what discount / dealer contribution). Total cost is £69K which includes the interest .. w/o knowing the rate , hard to gauge what the car costs before financing ,

Bearing in mind some on here reporting 18% discounts from new ..

[Charlie (Wessex)]

So it seems that you are

48 x £449 + £3000 + £19000 + £26000 = £69552 to own.

Personally try not to be a new car buyer. I picked up my G21 M340i (at the height of the chip shortage) with 7.5k on it, pan roof and quite a few options for 40% less with of course none of the rather restrictive mileage. Over £25k in my pocket is over £25k in my pocket!! What I didn't realise when buying it, was that it came with a 4 year service package which I am booked in for the last time in a fortnight.

[walker1971]

So the interest rate is 5.9% that’s standard on this car with all dealers so no negotiations on it, if I spec the car on bmw site on pcp it’s £489 per month with the same deposit so it’s £40 per month cheaper, as I said I have approached another dealer but still no price so I pretty much gave up and the dealer told me they had one build slot left for this quarter so I think I jumped in.

Maybe I should have just gone to some other dealers and got prices before putting my £1000 deposit down.

I was just thinking that by posting on here someone else may have bought one on pcp recently and had a monthly price and I could work out what deposit they put down and see if mine is a ok deal.

[Nham68]

Originally Posted by walker1971

So the interest rate is 5.9% that’s standard on this car with all dealers so no negotiations on it, if I spec the car on bmw site on pcp it’s £489 per month with the same deposit so it’s £40 per month cheaper, as I said I have approached another dealer but still no price so I pretty much gave up and the dealer told me they had one build slot left for this quarter so I think I jumped in.

Maybe I should have just gone to some other dealers and got prices before putting my £1000 deposit down.

I was just thinking that by posting on here someone else may have bought one on pcp recently and had a monthly price and I could work out what deposit they put down and see if mine is a ok deal.

Did you try any of the online tools like carwow and drive he deal ? Most places will match / get close . The build slot is a classic FOMO tactic .

[walker1971]

No unfortunately I did not try any online sites, having slight buyer regret now, I think I may contact some other dealers to see if I can get a better orice.

[goodbyalfa]

22k in, up front is a hell of a commitment in a pcp, have you thought about taking a 4 year car loan instead and picking up a 1 year old? For a 50k purchase at around £600/m you would own it at the end of 4 years?
I recall previously seeing a rough estimate that 1k is worth around £20 a month, with the £22k in you are effectively taking £440 ish a month off the monthlies.
At the end of the day, a pcp is modelled on the cost new minus cost at the end of the cycle, so if it's £65k list, £25k after 4 years, somewhere you will have to pay the 40k, whether up front or along the way.

[AlanRB26]

Placed an order for a G21 M340i last week, all options ticked apart from sunroof and towbar. Works out about 16.5% off list.

[walker1971]

I think looking at loans may be a better idea I have signed no paper work for pcp yet so will be worth a look.

[walker1971]

What are you paying per month for the car as this would be the same spec as me no sunroof or towbar but everything else.

[AlanRB26]

£15k deposit and £495 per month, can always pay off early to save on the interests if it’s a car to keep long term.

[alFR]

Try drivethedeal etc. and worth dropping Tony Lewis at Berry BMW an email (trldeals@outlook.com), he generally does good prices.

[walker1971]

Is that £494 per month on 48 months ?

[AlanRB26]

Originally Posted by walker1971

Is that £494 per month on 48 months ?

Yes @ 5.9% apr with a balloon payment of £27,800

Just worked it out, it’ll cost me £5.60 a day on interest charged on my borrowing over 48months.

[AlanRB26]

Originally Posted by alFR

Try drivethedeal etc. and worth dropping Tony Lewis at Berry BMW an email (trldeals@outlook.com), he generally does good prices.

Both Tony Lewis and DTD’s supplying dealer have no build slots left last time I spoke to them last week.

[walker1971]

So I think with my crap maths based on your £15k deposit over 4 years £495 per month and mine at £22k deposit over 4 years at £449 per month mine is actually poor 🫣, as I think it’s around £23 per month off the the price for each £1000 you put as a deposit.
I am putting in £7k more deposit so £23 x 7 = £161 so really should be £288 ?? That seems too cheap but for my extra £7k deposit mine is £449 ? I just have this worked out wrong 🙄 any help with this or am I just getting it all wrong

[Jonnyr7]

need more information really, in a clear format

cash price of the new car
amount of deposit (cash + value of your old car minus finance owing on old car)
monthly payments
term
guaranteed future value

if you've got all of these then its easy to work out what the deal looks like really

[walker1971]

Hopefully the attached image is all you need plus the below info.

Car is owned outright by me.

Trade in value is £19k

Cash I am adding in is £3k

22k in total

6k miles per year

Quote shows £459 but it is now £449 per month 48 months

On the bmw sales online it works out £480 per month but that’s 8k miles per year and if I change it by 1k miles it makes a £10 per month difference so 6k miles should be around £20 per month less so that should be £460 even with bmw online sales and the dealer is doing £449 so only £10 cheaper which seems poor ? And for a repeat customer of nearly 15 years and my fourth car from them.

Let me know what you think.