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      02-21-2012, 03:16 PM   #1
Viva87
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IN PROCESS OF BUYING F20 1series

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Hello all new here

I am in the process of buying a 1series on a hire purchase BMW scheme I am after some advice of what prices people pay per month for there new cars as I have no clue on weather I am getting a good price or not I am putting down around 3000 deposit

the spec I have asked for is

118i sport line auto
So Obv sports package
Then extra wise

Sun protection package
Comfort package
Anthracite roof lining
Rain sensor with auto lights

What should be my payments per month over 3 or 4 years . The apr at BMW uk is a 4.9% until march then goes back up to 9%

Any help and input would be very great full as I want a good deal !!

Thanks
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      02-22-2012, 04:42 AM   #2
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Well i've bought 4 brand new cars in my time, here is my advice.

Dont worry too much about the monthly amount to begin with. See what it comes out at after you have negotiated a discount.

They dont actually make that much money on selling new cars, you're not going to walk away with a huge discount, so be realistic. That makes you look like a serious buyer too rather than a chancer.

They make money selling add ons like GAP insurance, tyre and alloy insurance etc. They'll try bundle that in to the price of the car. Tell them to strip out any extra products like that as you'll only consider them if you can agree a price for the car, but also make it sound like you might buy some of them.

Profit on the car its self is a mixture of front end profit (what they get for selling you your car) and back end profit (what they get in terms of a bonus if they meet targets for the month) and any profit they can make from selling on a trade in.

Before you go in, remember, you are in control as you can walk out at any point. If the salesman is a ****, just get up and leave, and find another BMW dealer.

When you go in, make sure they know you want the car and are serious about buying it there and then IF they can make you a deal that you're happy with. That's when they will start giving you the best price. Also make sure they know you are prepared to walk away if you dont get a good deal.

At first, dodge the question about how much you want to pay a month, say you want to look at a discount on the list price. Try get 10% off the list price including options. Then when they come back with an offer at 5%, they will tell you how much that would be a month. Say that's more than you wanted to pay per month you can only afford 30 a month less than what they have offerd (Roughly another 1000 off the list price over 3 years).

Say if that's the best price, you might go see what the dealer in the next town can do. They'll come back again, this time with the best price. if you're not happy, follow through with your threat and go see another dealer. They might even ring you the next day and offer you what you wanted.

If you're happy with the deal, dont accept it without getting them to throw something extra in as you're in the pound seats now. I usually say throw in paint protection and its a deal. At that point, they will throw that it as it doesnt cost much to them even though they charge the earth for it. They wont let you walk away over that.

If you have a car to trade in, get the price for that first before you start negotiating on the car you want to buy. Find out the book price and dont accept any less. Tell them you're only prepared to look at the new car if they offer you the book price for yours. Again you have to be realisitic here, your car is worth what it is worth, which is the book price.

After you agree your price for the car and your trade in, say you dont want any of the extra insurance products and source gap insurance online for a fraction of what they want, if you want it at all.

I'd also buy it now, before the end of feb, as they may be flexible to meet there monthly targets.

If you can do all of that and not fall for any sales tricks, you'll have done ok. Try to come across with confidence, if you're nervous, they'll think you're weak and you'll cave in and accept an offer that's not that good.

Good luck
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      02-22-2012, 07:58 AM   #3
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Thanks for your reply

So far the car comes at around 250000

I said 3500 deposit and got them down from 310 a month to 290 a month over 3 years

Recently after speaking with a guy from another BMW dealership he has asked me why am I not taking this out over 4 yrs as the payments will be alot lower ! as I can give the car back after 50% of the car payment shave been made ! Am I missing out on a catch here or should I go for 4 years

Cheers
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      02-22-2012, 09:32 AM   #4
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Ok some quick maths;

The list price in the example below - the depost is 20,986. Your list price - deposit is 21,500.

If we took a guess that your 118i+options would be worth about 1,500 more than the example base 116i after 4 years, that would make your final payment 10,200.

That would mean your montly payment on your 4 year deal should be somewhere around the 240 mark?

I think you've got a very good deal for 280, but you need to make sure they aren't luring you in with a large optional final payment/low contract milage that makes the montly payment very low but you get stung at the other end. I.e it could put you negative equity, meaning you have to hand the car back after 3 years with nothing to show for the 13,650 you have paid into it and potentially with excess milage charges/allow refurbishment charges to pay on top of that.
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      02-22-2012, 10:12 AM   #5
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Cheers mate your really helping here!! so made a phone call to my sales man in BMW if I keep the 3500 dep over 4 years he said it only brings it to £272 a month which doesn't really excite me I thought at least 250 he said this is the 272 would be the lowest !! And the only catch would be the interest which would be more !!
What would you go for ?

Thanks
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      02-22-2012, 12:09 PM   #6
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Ok so 47 * 272 = 12,784

35 * 290 = 10,150

Based on the two deals on the table the 3 year deal is considerably better, all things being equal.

An extra 18 a month saves you 2634 and means you change your car for another new BMW in 3 years rather than 4 years time.

If you go in ready to buy, you may even be able to get them down a little more.
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      02-22-2012, 03:28 PM   #7
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Quote:
Originally Posted by Sol01 View Post
Hi there. also looked at the BMW UK web site. is that 4.9% APR also available for 118i ? cause I only see the offer for 116i ?
Based on the numbers that they quoted him for a 3 and 4 year deal, it sounds like you can get 4.9% over 3 years on the 118i but over 4 its higher.
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      02-22-2012, 03:42 PM   #8
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I remembered, when i bought mine i made a little calculator in excel to work out APR. (Sorry, i'm a computer programmer, we do these things).

So I fed in the numbers from these deals to get an idea. Its not perfect as i dont know the exact numbers but i did a bit of trial and error. Here's what i got. Have to say, that looks like a great discount you have got! That said i'd be a little worried about that final payment, it looks on the high side, can't see you coming out of it with any equity.

Although i am assuming 0 trade in, which might be where my numbers are out and would make the final payment lower.

Ps if anyone wants my little finance calculator let me know and i'll email it to you!
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      02-22-2012, 04:36 PM   #9
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Quote:
Originally Posted by Sol01
Quote:
Originally Posted by Viva87 View Post
Hello all new here

I am in the process of buying a 1series on a hire purchase BMW scheme I am after some advice of what prices people pay per month for there new cars as I have no clue on weather I am getting a good price or not I am putting down around £3000 deposit

the spec I have asked for is

118i sport line auto
So Obv sports package
Then extra wise

Sun protection package
Comfort package
Anthracite roof lining
Rain sensor with auto lights

What should be my payments per month over 3 or 4 years . The apr at BMW uk is a 4.9% until march then goes back up to 9%

Any help and input would be very great full as I want a good deal !!

Thanks
Hi there. also looked at the BMW UK web site. is that 4.9% APR also available for 118i ? cause I only see the offer for 116i ?
Yes its 4.9% on all the 1series range over 3 years an some of the new 3series until the end of march
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      02-22-2012, 04:41 PM   #10
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Quote:
Originally Posted by JonF1982
I remembered, when i bought mine i made a little calculator in excel to work out APR. (Sorry, i'm a computer programmer, we do these things).

So I fed in the numbers from these deals to get an idea. Its not perfect as i dont know the exact numbers but i did a bit of trial and error. Here's what i got. Have to say, that looks like a great discount you have got! That said i'd be a little worried about that final payment, it looks on the high side, can't see you coming out of it with any equity.

Although i am assuming 0 trade in, which might be where my numbers are out and would make the final payment lower.

Ps if anyone wants my little finance calculator let me know and i'll email it to you!
Cheers mate uve been a real help on this I think I am going in with a cash deposit on Friday am going to have to up the annual mileage up to 10000 from 8000 as I have worked out in going to be more I'm hoping when he see the cash he will just leave it at the same prices as I was quoted on 8000 annual mileage !!
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      02-22-2012, 04:55 PM   #11
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Quote:
Originally Posted by Viva87 View Post
Cheers mate uve been a real help on this I think I am going in with a cash deposit on Friday am going to have to up the annual mileage up to 10000 from 8000 as I have worked out in going to be more I'm hoping when he see the cash he will just leave it at the same prices as I was quoted on 8000 annual mileage !!
Yep that makes sense now, the reason the final payment is high is because its based on the car having only done 24,000 miles when you take it back in 3 years.

Good luck, its a good negotiating tactic anyway.
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Last edited by JonF1982; 02-22-2012 at 05:20 PM.
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      02-23-2012, 06:57 AM   #12
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London central mate
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      02-23-2012, 09:32 AM   #13
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Lucky you EU members who can shop around without crazy import taxes
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      02-24-2012, 04:59 PM   #14
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Quote:
Originally Posted by Sol01 View Post
went to BMW dealer in London today. this is the offer I got from him but have to make the decision by Tuesday next week latest.

118D Sport Mineral Grey metalic.

Driver comfort Package
Interior comfort package
sun protection package
Automatic Gearbox
Brushed aluminium trim
High Gloss Black Interior trim
BMW live
Bluetooth hands-free with USB

total cam to 28350. if I commit myself on Moday he would do it for 25k.
4.9% APR over 3 years . 3500 deposit and monthly payment of 290

and I would have it in April

any feedbacks ?
Nearly 3 1/2 k off! I'd take it, but just check for any nasties like low contract mileage or over optimistic final payment.
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      02-24-2012, 05:17 PM   #15
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Quote:
Originally Posted by Sol01 View Post
yes . my spec was 118d jet black , but he said I have missed the built slot for March registeration to benefit from 4.9% APR. so he looked to see what he has in Stock. came up with this one. told him I won't go over 25k. he said come back on Monday and if you are serious and put a deposit down I would match the 25k . I won't do too much mileages on it anyway . is more for a weekend sort of use.
Nice one, you're getting a better deal as its from stock rather than a factory build, but that will mean a shorter lead time. I think do it. You can't argue with a 28k car for 290 quid a month mate.
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      02-24-2012, 06:01 PM   #16
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Quote:
Originally Posted by Sol01 View Post
yes . my spec was 118d jet black , but he said I have missed the built slot for March registeration to benefit from 4.9% APR. so he looked to see what he has in Stock. came up with this one. told him I won't go over 25k. he said come back on Monday and if you are serious and put a deposit down I would match the 25k . I won't do too much mileages on it anyway . is more for a weekend sort of use.
Sounds like a great deal, moving from 28 350 to 25 000.
I guess you can't pick options yourself, as this is a car in stock. In my opinion you should even consider a car with xenon, as this is a useful safety item that also looks extremely good
I would also have checked out Navi pro and H.K.

Have fun with your decision anyway
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      02-25-2012, 04:13 PM   #17
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Quote:
Originally Posted by Sol01
went to BMW dealer in London today. this is the offer I got from him but have to make the decision by Tuesday next week latest.

118D Sport Mineral Grey metalic.

Driver comfort Package
Interior comfort package
sun protection package
Automatic Gearbox
Brushed aluminium trim
High Gloss Black Interior trim
BMW live
Bluetooth hands-free with USB

total came to £ 28350. if I commit myself on Moday he would do it for £ 25k.
4.9% APR over 3 years . 3500 deposit and monthly payment of 290

and I would have it in April

any feedbacks ?
This is a great deal So similar to mine but ur getting more Lol
118i sport
Sun pro
Driver comfort
Auto box

Worth 26000
Deposit 3500
Monthly 290

!!!
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      02-27-2012, 05:17 PM   #18
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Aah Sol you let me down!!

Fair play though if you have the budget for an F30
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      02-27-2012, 06:00 PM   #19
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well. went to BMW dealer today but decided not to go ahead with the deal. nothing wrong with the car or the offer but I saw this black F30 sport line there and just couldn't stop looking at it is one stunning car in Black. so when I return to Spain at the end of April, would go ahead with original plan and order the F30 320 sport line in Black as that is what my company budget allows. there was also a black sapphire F20 Sportline waiting to be picked up by its lucky owner, it looked pretty mean. slightly saddened that I didn't get the F20
It's an understandable decision, and it certainly makes sense!
However within a certain budget you have to compromise on options if you go for a more expensive base car.... For me, loosing all those goodies would be loosing half the fun! So I ended up with a pretty much full specked F20!
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      02-28-2012, 01:15 AM   #20
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Originally Posted by Sol01 View Post
Thanks Super. as you know my original plan was F20 120d Msport or F30 320d Sportline. without the question I would get more goodies if I go with F20 M sport but as you find out yourself you can spec up 120d to the price of 520d. so I just need to strike the right balance with 320d .
F30 is the best car in its class according to most reviews (including my own test drive), so you can't go much wrong either!
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      02-28-2012, 04:09 AM   #21
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Quote:
Originally Posted by Sol01 View Post
Thanks Super. as you know my original plan was F20 120d Msport or F30 320d Sportline. without the question I would get more goodies if I go with F20 M sport but as you find out yourself you can spec up 120d to the price of 520d. so I just need to strike the right balance with 320d .
I think the 320 sport comes reasonably well specified as standard, very nice car which will sell bucket loads! I'd only need to add a few options if i was buying one.

However i couldn't justify the price difference between an F20 and an F30 at the moment and all my needs a served in an F20.

In 4 or 5 years when we've finally managed to upsize our home and pay off other debts, my car budget will make it time for a 328i or X3

Or maybe a F20 2016 facelift + a Z4?
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