Advice sought on buying a new car

I was in the market for a sub three year old BMW, when the dealer tempted me to look at a brand new one , something I would never normally do for obvious reasons. However they have a number in stock that they want to get rid of before the update version is released in 18-24 months. So 18 k off the list price, fully loaded, and 2.9% finance over 30, 36, or 48 months. Im considering a 30 month plan, a deal like this kinda takes the sting out of buying new right?

You can look up the depreciation rates of the car - that will tell you exactly how/much little buying new will cost you over the next few years compared to a 3/4 year old car - only you can decide if having a brand new car is worth whatever that figure is.

Oh wow, how fortunate that they have so many in stock and so little confidence they can sell them over the next 2 years.

Either they are just full of sh1t and you are getting offered the normal discount to list with a bit of a story or the new model is 6 months away.

Go on carwow and see what price you can get there.  I got 23% off list price for my new car there and I was able to get exactly the options I wanted.  It wasn't a model that was about to be updated.  Had to go up to Lincoln to get it.

I imagine these sort of discounts are normal for anyone shopping around, but I've only bought a new car once.

Donny, the new model is at least 18 months away, and I have an email from the group General manager confirming the same upon which I rely should the updated version come out earlier.Its a 4 series fyi.Its not a discount on list price per see, but an 18 k contribution towards a deposit.

Guy I have done what you said and a new one on its face does make sense.I only propose to keep it for24-30 months max

Donny, the new model is at least 18 months away, and I have an email from the group General manager confirming the same upon which I rely should the updated version come out earlier.Its a 4 series fyi.Its not a discount on list price per see, but an 18 k contribution towards a deposit.

Guy I have done what you said and a new one on its face does make sense.I only propose to keep it for24-30 months max

Diesel stock they’re desperate to dump as the bottom is falling out of the market?

I may be over-nervous but I’d be wary about buying any car at the moment.  Capricious law changes (and local authorities moving in different ways) are a definitive disincentive.

Why would anyone take the depreciation hit on a car?

Just give the extra money to a charity if you are that keen to be rid of it.

Can you provide the details of the car? is this lease hire, PCP, are you actually buying the car outright over that period (I assume not)?

But the long and the short of it is that the value in this deal is not about anything tangible, it is always going to be about the value you put in the feeling of driving around in a new BMW. Because the maths is never likely to add up compared to other options. For starters you can get 30 month 0% deals on credit cards?

 

In fact that is another point - one tactic is to go ahead with all of this, let them finalise the price and the details, and then say "thanks very much but I am going to finance it myself" 

 

Normally some contribution comes from the finance company not the dealer though. That does sound like a big discount for a 4 series

Check broadspeed too for a comparison, they're usually good

Autotrader also have new car deals - I have seen some amazing deals on there before

Check auto trader I bet u can get the same with '1k' on the clock for the same or cheaper anywhere

Actually autotrader have a top spec 435d with £19k off...

 

The car will be worth fuck all in 30, 36, or 48 months unless its fully electric.

And at that point you will either have to buy it at their massively inflated ballon payment price or give it back for nothing  (plus any charges for damage, excess mileage etc.)

And is 2.9% really the best rate you can get? Cant you get a bank loan at a better rate?

Archi, I don't have or want a credit card, and haven't had one for ten years, so any application now would mean me starting over again with a small credit limit. It is a PCP , with a small balloon/guranteed miniumn future price for any PX. I propose to PX it as against the new version.

It is an M4 Coupe competition pack ( awaits howls of abuse!)

As to your last para, I had the very same thought, but the 17k dealer contribution deposit is only available if the car is financed through BMW. To lessen the sting further it is a VAT qualifying car, so I can register the car in a business name/LTD company and reclaim most of the VAT back

Agree with electric, that's why am waiting for a couple of years before getting next proper one

I think the decent engines like the new M340i would still be saleable, people like the noise. They're going for around £10-11k discount too

I was going to type this previously, but didnt for the same reason, but an M4 Competition was pretty much the only answer I would have accepted as valid - which makes things very different. Mainly in that I wholeheartedly approve!

 

The other tactic is to check for any ERP....many finance deals from dealers dont seem to have any, so you can take the deal out, maybe pay the first installment and then pay it off if you can find better finance elsewhere. There are lots of threads on PH about people doing this very successfully. 

 

On another note you could just compromise on the miles (number plate...if you care about these things, I dont) and buy a used one for sub £35k - that way you would be way ahead on the depreciation? 

South London lad wants pimped Beemer for A3/31 cruising. Sat nav with quiet laybys programmed in preferred... 

pcp is normally always the most expensive way to finance, even if the rate is low

Also that discount looks pretty standard for an M4 - sure you could get £3-4k more off

I've got a five year old BMW with only 33,000 miles that's all yours for a very reasonable price.

Archi very helpful thanks.The only quandry I am now faced with is as you say get a new one , which means spending much more than I initially anticipated, but given the 17k contribution and the fact it is new, would in all probability mean on any PX, I would obviously get more for it, as opposed to buying a two year old one for 40k, which is what I initially intended. The two year old one in 2-3 years will be worth 15k max I reckon.

 

I emailed the dealership to ask them to confirm the ones in stock are the latest iteration, as opposed to ones that have been made in 2014 and been sat outside in their secure storage facility for 5 years, does this make a difference?

Mate mine only cost £40k brand new so if you're paying that for a two year old one they've seen you coming.

You won't buy it and you'll be on here within a fortnight asking about buying another aspirational toy, which again, you won't buy. 

Surely one of your friends or acquaintances with whom you're usually over-concerned can help. 

The ones in stock are all the latest model and I've bought stock cars from Audi and BMW.  They ship them in on the basis that many people won't want to wait three months if they order one so they have a selection of the most popular versions sitting on a dockside ready to go.  You can generally find pretty much what you want in stock although most dealers will try and persuade you to order as I think they get a better commission for that.

Bentines I may not buy it quite right mate. I did buy a new M3 in 2009 on a 59 plate, kept it for three years FYI

"and I've bought stock cars from Audi and BMW"

And literally no-one is doing a *shocked face*

No but I did look at the 4 series coupe when I was looking and it wasn't vastly more expensive than the 3 series I bought.  Was very tempted but a coupe and elderly parents don't mix.

Yes Wang I love my Bavarian engineering although to be fair Audi was disappointing and I moved back to BMW.

"The car will be worth fuck all in 30, 36, or 48 months unless its fully electric."

 

I love how roffers churn out utter made up bollocks and pretend its fact. 

Honestly in 4 years time m4 a 2019 plate diesel will be harder to sell than ur mum.

I've got a five year old diesel and suspect I'll end up scrapping it in a few years as it won't have any resale value as you won't be able to drive into any town centre for a start.

What is on your list of criteria that is making a used one £40k? you seem to be able to get a competition pack car with sub 20k miles on it for £30-35k and thats before any negotiation

 

A lot of the time people aim for low mileage cars but are actually buying at the wrong point. So for example a lot of people may pay a premium for a 50k miles car over and above a 70k miles car but depending on the engine and known issues, service costs etc the 70k mile car may have had a lot of money pumped into it that the 50k mile care will need pumping into it pretty quickly, so the 70k mile car makes a lot more sense.

 

 

 

 

 

17-19 plates are variously going for between 38-43k(asking price) on the Cooper group site, mmm, so unsure. Archi the small difficulty I have is one with 20-30k miles will be a great price as you say, but would have been invariably wragged to death and out of BMW warranty?

(the 50 vs 70k miles point was a general one and not specific to the M4 as I know they are still newish) 

 

I think 20-30k is nothing on a car!?  Its all about whether its been looked after so would be looking at service history and parts. I don't know if that engine has a weak point but I would be scouring the forums to find out if so. It really depends - an e90 M3 has a few weakspots but they arent going to hit you with much more than a 1-2k bill in worst case scenario if something goes wrong. Whereas the v10 they made in the M5 and M6 have some pretty catastrophic wallet shattering issues to worry about. 

 

I can't imagine there is too much stress on the engine at 444hp  seeing as people are regulalry tuning them to 600/700hp. Might need to do a turbo at somepoint but I guess its working out what the cost of that is. 

 

If you buy a lovely looking well serviced car at £30k then you need a £10k issue to crop up to make it a worse buy than a similar £40k car. Which is very unlikely although I havent researched this particular engine. 

In addition if you did have to plough £10k into a £30k M4 you would end up with a very tidy motor that would actually still be a safter bet than the £40k car, as all the same issues could be yet to go wrong. 

 

I get the concern about buying a car that could have been thrashed and being concnerned about big bills but if you do the research you can find out what the risk of those big bills really is and very often its not anywhere near as risky as you think.

 

Also you can just buy a warranty for 2k 

Or just buy a Skoda and do something else with your research time...

18K of the list price and "fully loaded".
 

They take a 40k car, and add £20k "worth" of options that you'd probably not spec if you had the choice (and that £20k worth of options only costs them about £4.5k) and they then give you a discount of £18k so you pay £42K for a car that is standing them £40k (full price) and an additional £4.5k of gubbins.

And you know you really should just get a base carrera in yellow, no options

Or if you don't need back seats then the new 718 GTS 4.0 

Bizarrely buying new is often cheaper than buying at 1 year old. There's plenty of forums where M car deals get discussed so try there for a view. This must be a run out special which means the new one coming out a lot sooner than 18-24 months, I think I read they have even stopped production now.

and LOL at Sails comparing some 3 series diesel wheezmobile to an M4 comp.

Awu I'm not comparing but looked at both five years ago.  At that point there was no 4 series saloon so I got the 3 series on the basis it has rear doors so that arthritic parents can get out of the back seat.  If my parents were ten years younger I'd be driving around in a 4 series coupe.

I I was going to buy the current model 4 series I'd definitely be trying to find an Alpina B4S rather than an M variant.

 

The B4 is a better car and will hold so much more of its value.

an M4?? heh 

the £60K car that looks like a £20k car with Halfords accessories added. 

BUT its reeeely fast.... which you will never ever get to use. 

 

Wash they have stopped the production on the M3 with the new one due to launch sometime in Q1 next year. They are still building M4s I saw it on their computer but these might be cancelled pre orders . The general manager assured me in an email the new 4 series is launched Q1Q2 and the new M4 at Least 18 months later . He said typicality m series launches are always delayed longer than anticipated anyway I have an email upon which I propose to rely if it goes tits up 

Wot ??? said

good luck relying on an email for misrep when a new model comes out next month 

the precise words will be 'jog on'

negligent misrep case Obv... heh

but the car salesman said... 

Just buy an electric car.  
 

Any diesel car will be worthless in five years as you won’t be able to take it into any city centre.  

I reckon he needs a G-Whiz with all the bells and whistles and a big spoiler and fake phat exhaust noise.

Wibble, it averages at about 32MPG, that is a a lot when taken in the round, the one I had on a 59 plate was averaging 17, and when driven quickly was bout 13/14 which is insane and of course bloody expensive. I never achieved more than 20 MPG

Honestly if you're fixed on the 4 series and can find a B4S you really won't regret taking it over the m4 comp pack.

A got ya, not for me , I need something you can drive everyday and potter down to the shops in with no drama!

That's the beaity of the alpina. In comfort mode on the way to the shops no one knows it's a beast and the ride is luxurious. The torque (which there is a lot more of than on the Msport) is most powerful at 3K rpm compared to 2k so the drama requires more concerted deployment and sport mode...

And the list price, waiting time > When is it due to be replaced?

Ok what about an RS3, new model coming out in roughly same timeframe and large discounts too. 

B4S is a great shout 

 

Will hold value better

 

Will be more civilised

 

More refined

 

Rarer and arguably more desirable in some ways

 

 

 

Hotnow there is no M4 coming out next month . I propose to rely on the email as there not being a new release of the M4 from 18 months from the beginning of the year and that is the basis why I’m buying now . FYI it is not an email from , the salesman but the group general manager, and even if it was from the salesman I could still rely on it 

I've not seen reviews for the b4s but recent Alpinas have been meh at best.

Group general manager aka fancy title for Gaz who manages Wimbledon, Raynes Park and Malden BMW which whilst being owned by a vast dealer are separately branded so they can make Gaz feel he's more than a sub-area manager.

If you're paying monthly, list prices and discounts are all nonsense - especially if you're looking at a PCP.

 

Just look at the deposit and the monthly.  And thats it.