06-09-2013, 09:24 AM | #1 |
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Sales advice for a BMW virgin
I've been on the forum a while now but I'm getting to the final hurdle in terms of coming to buy my car. I've had a nightmare with my new house which has caused setback after setback with other things.
First of all im still unsure whether to buy new or used. I've noticed a number of approved used cars with the exact spec i've been looking at, with minimal mileage and obviously the avoidance of that 12 week wait. Being new to this whole car buying from a dealership business I was just wondering if anyone has any advice for when I go in to actually talk business? Things like whether I'm entitled to any form of discount for cash buying etc? |
06-09-2013, 09:28 AM | #2 |
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Don't go for GAP insurance, I know from personal experience that it takes a hell of a lot to write off a car these days.
If you're buying new have you considered pre-registered? Ask the dealer for a list of pre-reg vehicles to see if one meets your spec - you could get a brand new one instantly for a couple of grand less than list price in exchange for not being the first owner.
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06-09-2013, 09:46 AM | #3 |
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Are pre reg specific to that dealership? Meaning its worth scouring the area and different dealers first. My dad advised me to have a number of cars from other dealerships first if you want any chance of decent discount, he said it should be pretty standard they offer you 5% off the list price, but I was hoping for closer to 10%. However other articles I have read say, if your cash buying don't make it apparent that you are until you discuss figures, because salesman get better comission on finance sales than cash.
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06-09-2013, 11:08 AM | #4 |
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Specific to dealership or dealer group.
Also re part exes - any HPI checks log the dealer name so don't go saying "audi offered me a thousand more for my part ex" because they will know if you're fibbing and youve never set foot in an audi garage lol
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06-09-2013, 12:44 PM | #5 |
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Any part exchange will have a value to THAT dealer, they don't care what you may have been offered elsewhere just negotiate hard if you believe in what a car is worth. With cash you have read correctly that the finance deals are easier to haggle a discount due to the comission.
If you are looking at BMW dealerships most of the 10 month to 14 month old cars with under 10k on will be BMW ex fleet hire, probably been on a PCP to a BMW employee. Worth a look if you're spending anything near £20k but the sticker price will be hard to get a discount on as they price them depending on what stock is coming and how long they have been on the forecourt. Try to go shopping at the end of the month or even better the end of the quarter when they may need to hit a target. |
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06-09-2013, 12:57 PM | #6 |
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May also be worth checking out the new deals especially if you are looking at pcp type finance plan.
On the new cars you get lower finance rates, higher gfv and push for 10% discount. The difference maybe closer than you think and you will have a new car with 3 year warranty, 3 years BMW assistance and a car to the exact spec you want. Cheers Lee |
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06-09-2013, 02:18 PM | #7 |
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Cheers guys. Just to make my intentions a little clearer. I am going to be cash buying, more than likely at the end of the month. Finance isn't what i'm after. But thats not to say I wont mislead the salesman if I figure it may land me a few extra percent off the list price.
I'd love think I could get around 10-12% off, but given the demmand for M135i's in the UK I'm not holding my breath. I've monitored the A.Used page on BMW UK for a month or so now and the flow of sales on the M135i is very constant. I'll see one with the spec I am after one day then a few days later I'll check back and it will be removed. Given my impatience I think there is a strong chance I'll buy used rather than brand new, unless one of my local dealers has a pre reg car in their showroom. |
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06-11-2013, 06:30 AM | #8 |
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i think the days of discount for cash are a thing of the past tbh... (not that i'll ever likely know as i don't have that sort of liquid asset)
dealers make money on finance, it is in their interest to sell it to you. if you have the means, i would make out that are a finance buyer... perhaps pick a nice high APR and negotiate a chunk of change off the car. then when you pick the car up just say, oh i've changed my mind i'd like to pay cash please that should suitably piss them off. hah!
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06-11-2013, 06:33 AM | #9 |
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Or take out a finance deal and then pay it off after 1 month, the interest will be minimal just check what any early payment penalty may be and see if the numbers work out.
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06-11-2013, 06:37 AM | #10 |
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yeah was going to say that, might be an early repayment penalty.
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06-11-2013, 07:20 AM | #12 |
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I disagree. You could have the car stolen and never recovered. I got three years GAP. Back to invoice for £125. It's a no brainer on a £20k + car
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06-11-2013, 07:31 AM | #13 |
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+1 re GAP. Less own issue if you're a cash buyer as you don't have the possible negative equity situation. However you'd be royally pished off if you shelled it all the cash, it got nicked and you got back far less.
Keep in mind most insurance policies have a new for old clause for new cars (ie you are the first owner so that rules up pre reg cars) and you have 6 months normally to buy GAP from date of purchase. But for the sake of £125-200 I'd rather have the piece of mind. Used ala.co.uk and got a good price and also was able to swap the car on the policy when I swapped out after 12 months. Good service so I'd recommend them. |
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06-11-2013, 07:33 AM | #14 |
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06-11-2013, 04:07 PM | #15 |
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So I could sign up to a finance agreement for the car, then as long as its within 14 days I can turn round and say actually i'm going to pay off the whole amount, without incurring early payment charges. So I could get the possible discount that you can get through finance, with the ease of cash buying?
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06-11-2013, 04:33 PM | #16 |
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potentially, but read the agreement properly is the best advice i can give!
for me though, if it were any other time other than now... i'd be stuffing that cash into an FTD and leaving it for the car term, but rates are shocking now
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06-11-2013, 04:41 PM | #17 |
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Based on your location on your profile can I assume you used Baron's? If so what did you make of them. My dad lives in Yateley and he said to me to sack off Northern Dealers and try Baron's
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06-11-2013, 04:49 PM | #18 | |
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Wood of Hampshire as they are called, and Barons of Farnborough seem to have a local rivalry going currently and inadvertently i managed to get them to play off against each other but luck more than judgement. You pays your money you take your choice, go take a look at both and see what they say and then take your best offer to the other one i reckon. You might get lucky too As for Barons specifically, i don't really like the cut of their jib, but it really is based on my own personal anecdotal experiences. They have a nice big (huge) showroom/car park, with tons of cars, so very good for browsing/test driving if nothing else... defo go take a look when you visit this way.
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06-11-2013, 05:46 PM | #19 |
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06-12-2013, 02:17 AM | #20 |
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06-12-2013, 07:42 AM | #21 | |
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Do read the small print or even ask the dealer. If it's new use someone else's money. If it's used use your own money.
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