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Martin

Lease Bargains

Following the comment about the great deals available in the M5, I had a look at what other great deals there are.

M135i Manual for £1700 and £250 a month?  That's amazing value if you can live with 10,000 miles a year.  

http://www.contracthireandleasing...le-leasing/bmw/1-series/22468700/

Not such a stunning deal, but you can get a 335d M Sport saloon for £3,200 down and £540 a month for with 30,000 miles a year.  Drop that to 10,000 miles a year and it drops to £2,500 deposit, £417 a month.
Bob Sacamano

Actually, that's pretty good. 'Er indoors might be interested in that.
Racing Teatray

That's for boggo basement spec. What do they offer for a decently specced example?

Suggests they have faith in the long-term residuals if they can offer them that cheap.
gonnabuildabuggy

Racing Teatray wrote:
That's for boggo basement spec. What do they offer for a decently specced example?

Suggests they have faith in the long-term residuals if they can offer them that cheap.


BMW subsidy/discount I'm sure.
Tim

gonnabuildabuggy wrote:
Racing Teatray wrote:
That's for boggo basement spec. What do they offer for a decently specced example?

Suggests they have faith in the long-term residuals if they can offer them that cheap.


BMW subsidy/discount I'm sure.


Yes.
Our MD here has 2 Mercs on lease - a C250CDI estate and a GL diesel that he's had for about 2 months.
Apparently the dealer doesn't care what the price is as they're underwritten by the factory.
His GL is something like £650/month with no deposit.
While it sounds quite a lot it only adds up to £15,600 over the 2 years. There's no way that even begins to cover the depreciation on a £70k 4x4.
Martin

Racing Teatray wrote:
That's for boggo basement spec. What do they offer for a decently specced example?

Suggests they have faith in the long-term residuals if they can offer them that cheap.


I don't know, as you have to email them for a quote.

Even I wouldn't call the standard model 'boggo basement' as it's got leather and xenons, but based on BMW finance I'd expect it to be around £300 a month by the time you've added Sat Nav and a few other things.
Martin

Racing Teatray wrote:
That's for boggo basement spec. What do they offer for a decently specced example?

Suggests they have faith in the long-term residuals if they can offer them that cheap.


I don't know, as you have to email them for a quote.

Even I wouldn't call the standard model 'boggo basement' as it's got leather and xenons, but based on BMW finance I'd expect it to be around £300 a month by the time you've added Sat Nav and a few other things.
Alf McQueef

It does seem too cheap - usually any finance deal will easily total the 50-60%+ of the initial cost that will be lost to depreciation in 3 years. The joker in the pack is that premium manufacturers hate to discount RRP for cash buyers as it "devalues the brand" but they will offer silly deals on finance to shift stock from time to time - so it may be a wise move to wait until they are desperate (quarter and year ends presumably) then sign...

For the right money I'd take a lease on a new X1 on 12k miles or so. I factor at least £2500 a year for depreciation into my cars (for the first 3 years, less if I keep it longer) though Mrs ALF's cars normally work on a lot less - we bought the Plus at a good time and it seems to have lost less than a grand a year!
gonnabuildabuggy

Alf McQueef wrote:
The joker in the pack is that premium manufacturers hate to discount RRP for cash buyers as it "devalues the brand" but they will offer silly deals on finance to shift stock from time to time - so it may be a wise move to wait until they are desperate (quarter and year ends presumably) then sign...


This.
JohnC

Neva-Consultants.com have a 335DXDrive Touring with Business Media on a 6 +23 deal for £359 + VAT. The saloon is £349.

The problem with lease deals is that if you add any extras, you pay for them in full over the lease term with increased payments.

The XDrive cars don't come with lowered sports suspension, even in MSport trim so it is necessary to spec the Adaptive Suspension and if you upgrade to Professional Nav, you would be adding about £60 per payment.

Leasing cars which are well specced to begin with is normally the cheapest option if you can't live with poverty spec.
JohnC

Alf McQueef wrote:
For the right money I'd take a lease on a new X1 on 12k miles or so. I factor at least £2500 a year for depreciation into my cars (for the first 3 years, less if I keep it longer) though Mrs ALF's cars normally work on a lot less - we bought the Plus at a good time and it seems to have lost less than a grand a year!


You'll get a good deal on the 2wd SDrive models with lease deals in the mid £200's but the XDrive's are about £100 a month more at the moment (maybe a winter thing)
Alf McQueef

JohnC wrote:

You'll get a good deal on the 2wd SDrive models with lease deals in the mid £200's but the XDrive's are about £100 a month more at the moment (maybe a winter thing)



I can't find anything like that, where are you looking? I don't have my own business so would need to be looking at retail offers including VAT. My wife has her own company but is only turns over less than £5k a year so I can't imagine it is much use for this.

I was doing some man maths on this last night and reckon a loan to just cover the depreciation would be around £400 a month, and that's putting in £10k or so up front so tying up capital (for example buying at 24k, selling for 10k, so getting a 14k loan over 3 years).

So anything that can beat that for 12k miles a year looks good to me!

Of course buying one 3-4 years old will lose much much less money, as usual, whatever you lot think these appear not to depreciate much. The appeal with a new one is getting the recently-launched petrol.

At an equivalent age and higher mileage they all seem to be about the same or more than the £16k I paid for my car, which originally cost £10k more! I'm sure they were less a few months back, has the SH market picked up?
JohnC

It's not petrol but:

http://www.thebestcardeals.co.uk/BusinessCars.xlcr?CarType=Mpv4x4

or one for the ladies

http://www.thebestcardeals.co.uk/BusinessCars.xlcr?CarType=Mpv4x4

or

http://www.leasingoptions.co.uk/b...sport-5dr/1100222595/vehicle.aspx

or the more expensive petrol

http://www.leasingoptions.co.uk/b...sport-5dr/1100236839/vehicle.aspx

or

http://www.synergyautomotive.co.uk/BMW/X1/SUV-2WD/search/

That should keep you busy for a while.
There were some at around £209 + VAT when I looked originally but they were diesel SE's. I can't find anything quite as cheap today
Martin

The other benefit of buying a new X1 is you get the facelift model.  However, I'd have thought buying lightly used would be far more sensible if you want the 2.0i.

If brand new, then you could get a 2.0i SE for £320 a month based on a £3k deposit and a final payment of £10k.  

The £80 a month saved over the period of the loan would get you the same £3k deposit again (assuming there isn't any equity in the car in 3 years) and you'll be able to keep £7k of your savings tucked away.
Alf McQueef

Thanks JohnC, that leasingoptions site is way more useable than some I had found through Googling.

It's £411 not £320 from what I can see (with VAT, SE 2.0i auto 4WD with no options on 10k miles) but that still appeals, though I reckon we'd need at least 12k miles. A standard SE on 17's is perfect for us, there is nothing on the options list she'd actually want.

How some can appear for £229 (+VAT and "business only" but still cheap) for the 16D 2WD model on a 2 year lease is beyond me!
JohnC

BMW themselves are doing the X1 4wd 2.0i SE at £291.65/mth over 3 years with £4,045.50 down and an option to buy figure of £11,407.50

If someone has one in stock you might get another £1K off that deal without too much trouble. The above deal already has £3,930 dealer deposit.
JohnC

Vardy BMW in Edinburgh have 0% interest over 5 years on some X1's.

e.g X1 18D SE is £331.56/mth on lease purchase/HP (with £6,500 down)

I can't see a 2.0i but I am sure they would quote you.

Have a look at their special offers.

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