[_Ascension_]

Hi,

I’m looking to purchase an X3 M40i- it’s going to be the first time I’m purchasing a car new and using PCP. Was wondering what kind of discounts/figures I should be looking at, to avoid getting brushed off with a bad deal.

Any experiences of what people have achieved on theirs most welcome!

Thanks in advance

[dylan1357]

Good starting point is carwow, then try and get your local dealer to beat the price or throw in some extras

Tony Lewis based at Heathrow Berry BMW is also a good option if travelling to the dealership isn't an issue for collection. Tony offers great advice focusing on online orders through himself.

tony.lewis@berrybmw.co.uk

[teaston]

Here are TRL's Q2 deals, not sure how they've changed for Q3

https://www.babybmw.net/forum/viewto...0&t=119518

Carwow discounts are poor in my experience, drive the deal or coast2coast are better.

[_Ascension_]

Originally Posted by dylan1357

Good starting point is carwow, then try and get your local dealer to beat the price or throw in some extras

Tony Lewis based at Heathrow Berry BMW is also a good option if travelling to the dealership isn't an issue for collection. Tony offers great advice focusing on online orders through himself.

tony.lewis@berrybmw.co.uk

Thanks, I work in West London, so definitely not an issue for collection.

Originally Posted by teaston

Here are TRL's Q2 deals, not sure how they've changed for Q3

https://www.babybmw.net/forum/viewto...?f=80&t=119518

Carwow discounts are poor in my experience, drive the deal or coast2coast are better.

Brilliant, thanks- exactly the kind of thing I was looking for!

Just need to work out now whether I want to put a bigger deposit in or suffer higher monthlies- I *plan* to keep the car for at least 2-3 years, but I've told myself that in the past and it hasn't happened

[verysideways]

Yup - i tend to use coast2coastcars.co.uk as my starting point and then contact TRL (Tony Lewis) at Berry BMW Heathrow to see what deal he can offer (which inevitably is always slightly better than coast2coast anyway).

[lochview]

Second everything that the members here have said. I purchased my MY20 X3 M40i from Tony Lewis with a fantastic discount and he's even putting me up in a local hotel when I fly down the previous night.

No dealers here in Scotland could even get close to what Tony was offering and driving it back home will be fantastic to get to know the car!

[dylan1357]

Originally Posted by teaston

Here are TRL's Q2 deals, not sure how they've changed for Q3

https://www.babybmw.net/forum/viewto...0&t=119518

Carwow discounts are poor in my experience, drive the deal or coast2coast are better.

Q2 deals worked out slightly better than Q3 deals based purely on my purchase experience. I waited and it's cost a little bit more...

[Rbrown]

Another vote for Tony Lewis.

Great guy to deal with.

[ClaretFozzy]

And yet another vote for TRL (Tony Lewis) here.

Great guy.

[teaston]

Originally Posted by _Ascension_

Thanks, I work in West London, so definitely not an issue for collection.

Brilliant, thanks- exactly the kind of thing I was looking for!

Just need to work out now whether I want to put a bigger deposit in or suffer higher monthlies- I *plan* to keep the car for at least 2-3 years, but I've told myself that in the past and it hasn't happened

Pay as little deposit as possible (although I pay £1k just to not look like a complete tight arse), if you're going to VT 3 years into a 4 year PCP, as you're effectively throwing away a quarter of the deposit.

[london_v]

Originally Posted by _Ascension_

Thanks, I work in West London, so definitely not an issue for collection.

Brilliant, thanks- exactly the kind of thing I was looking for!

Just need to work out now whether I want to put a bigger deposit in or suffer higher monthlies- I *plan* to keep the car for at least 2-3 years, but I've told myself that in the past and it hasn't happened

I'm west London too and bought mine from berry Heathrow. If you'd like to check the car out before you press the button let me know and we'll go for a spin

[Driving for Charity UK]

As the above. I then used Coopers Cobham after speaking with TRL. At Coopers we agreed an 8k discount on a £60k OTR price which equates to 14% discount rounded up slightly.

[dylan1357]

Paying a bigger deposit will bring forward the point when you'll have equity in the car, it will also slightly reduce the total amount paid over the period if you decided to keep it for the full term.

However, paying too much deposit results in a higher total amount over the period, so play around with the figures and ask Tony to work up a few finance scenarios...and check out the finance section on bmw.co.uk

[verysideways]

Originally Posted by dylan1357

However, paying too much deposit results in a higher total amount over the period

Sorry, can you explain that?

Surely if the GFV is the same at the end (which it should be) and the finance has some element of interest (which they usually do!) then the higher the deposit the lower the financed element, and therefore the lower the total interest paid, and therefore the lower the total amount paid?

[SO8]

Originally Posted by verysideways

Sorry, can you explain that?

Surely if the GFV is the same at the end (which it should be) and the finance has some element of interest (which they usually do!) then the higher the deposit the lower the financed element, and therefore the lower the total interest paid, and therefore the lower the total amount paid?

That was exactly my thinking too ! You pay less interest the more the deposit and GFV is still the same.

[dylan1357]

Originally Posted by verysideways

Sorry, can you explain that?

Surely if the GFV is the same at the end (which it should be) and the finance has some element of interest (which they usually do!) then the higher the deposit the lower the financed element, and therefore the lower the total interest paid, and therefore the lower the total amount paid?

Sorry, my mistake.

When purchasing my current car, when I exceeded £7000 deposit the overall cost during the 36 month term went up, the dealer advised me it was the sweet spot. I assume above this they were protecting the interest made on the deal.

Just shows, don't believe everything a salesman tells you...

[dylan1357]

BTW - I calculated different deposits across a 48 month deal on the bmw site and by varying between £1000 deposit up to £14584 (max bmw would allow on the X3 example) there was a saving of £1659.54 over the full term or £34.57 per month

[_Ascension_]

Thanks for all the replies!

Originally Posted by london_v

I'm west London too and bought mine from berry Heathrow. If you'd like to check the car out before you press the button let me know and we'll go for a spin

Thanks- I actually live in SE and work near Berry’s Chiswick (Brenford!). What colour/spec is your car? Any pics/threads? PM if you prefer!

Originally Posted by verysideways

Sorry, can you explain that?

Surely if the GFV is the same at the end (which it should be) and the finance has some element of interest (which they usually do!) then the higher the deposit the lower the financed element, and therefore the lower the total interest paid, and therefore the lower the total amount paid?

This was my thought as well, surely you can’t be penalised for putting in more money upfront?!

[SO8]

Originally Posted by dylan1357

BTW - I calculated different deposits across a 48 month deal on the bmw site and by varying between £1000 deposit up to £14584 (max bmw would allow on the X3 example) there was a saving of £1659.54 over the full term or £34.57 per month

I put £20K into my PCP as my 'old' car was mine ... they had to give me money back as BMW wouldn't allow a larger deposit

The PCP for me was £189 a month for 2 years ... but I intend to pay it off next year as my pension comes through with thankfully a large lump sum.

[dylan1357]

Originally Posted by _Ascension_

Thanks for all the replies!

Thanks- I actually live in SE and work near Berry’s Chiswick (Brenford!). What colour/spec is your car? Any pics/threads? PM if you prefer!

This was my thought as well, surely you can’t be penalised for putting in more money upfront?!

https://x3.xbimmers.com/forums/showthread.php?t=1632594