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FK8 General FK8 (10th Gen) CTR Release chat

BMW list prices are silly. and the price of extras that are standard on the Civic.

We had a look in the BMW garage in Glasgow last week and walked out in disgust. 74k for the M4 ..... they must be having a laugh.

My mate got a 435d last year, list including extras 48k but he got 10 grand off by taking a PCP deal. Even then it's overpriced.
 
Detic1961 said:
BMW list prices are silly. and the price of extras that are standard on the Civic.

We had a look in the BMW garage in Glasgow last week and walked out in disgust. 74k for the M4 ..... they must be having a laugh.

My mate got a 435d last year, list including extras 48k but he got 10 grand off by taking a PCP deal. Even then it's overpriced.
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Almost nobody pays list price for any German luxury brand, unless the car is a limited run like the M4 GTS, The numerous Porkers or black edition AMGs etc..

And btw if your mate got that 435d for 38k with a bunch of extras, that's a great deal. Not really overpriced when you consider the quality and options you get. Also it's a BMW, so of course it's not going to cost as much as the equivalent Ford or Honda.
 
Here's an example of a real Q3 PCP for a 435d xDrive

List OTR including £3160 of options £52,145

BMW finance contribution £5000

Dealer contribution £7095

Customer deposit £2700

47 * £456

GFV £16,375

No idea how that compares to an FK8 on a 4 year PCP though..
 
I did

- £10K deposit
- Dealer contribution - Cup of Coffee
- 36 payments of £330
- GFV Less than what is outstanding
- Give the car back
-Get penalised on miles
-Can only afford a second hand Astra
-Wonder where it all went wrong
 
Mark_FK8 said:
Here's an example of a real Q3 PCP for a 435d xDrive

List OTR including £3160 of options £52,145

BMW finance contribution £5000

Dealer contribution £7095

Customer deposit £2700

47 * £456

GFV £16,375

No idea how that compares to an FK8 on a 4 year PCP though..
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21k to drive a diesel for 4 years, better off buying a car for 21k no?

Yes I'm old, (43) but seriously that is insane.
 
They always penalise on those pesky miles, drives me crazy that they think 6000 miles pa is acceptable on a 3 year term.

Up the miles like any sane buyer should and get massively stung on the monthlies.

I balanced my options and capped mine at 12k. I actually do about 18k.
When my terms up i'll be going into the dealership with Vaseline, cos it's going to hurt when they penalise me.
 
I forget, something like 7 pence....

I said 7K miles and its on 9, so not too bad with a month to go, but I have been working at home a sh1t load so god forbid if I actually have to go into my office next year :D

Only applies to giving the car back though as they clearly want you to use it as a deposit for a new one. With such a limited product range and not much hope of an NSX, it would have to be another Type R - no bad thing as long as they get the exhaust, power, gear box, AC button and Volume knob sorted..!
 
VTECMattC said:
21k to drive a diesel for 4 years, better off buying a car for 21k no?

Yes I'm old, (43) but seriously that is insane.
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From a financial point of view you are 100% correct, but lots of people want fancy cars that they can't really afford to buy, so they just look at the monthly payments and ignore that they never have any equity or own it unless they pay the GFV which is usually more than the car is worth. On one of the BMW forums there are plenty who take out a 4 year PCP to keep the monthly payments low, get bored after 18 months and realise how much negative equity there is in the car if they want to get out of it.

Even if you do have the cash to buy that car outright, you would still lose a similar amount in depreciation if you sold after 4 years, and the APR on the PCP is 1.9% from memory, so the interest isn't that bad.

I guess you could say buying any new volume produced car (PCP or cash) and selling whilst still depreciating heavily is insane.
 
Detic1961 said:
PCP isn't that good a deal any more.
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It depends on how you play it.
If you want the car but can’t really afford it. You put little deposit down, small monthly payments and get shafted at the end.
If you’re smart, buy a car that will have good resale, good size deposit, decent amount for monthly payments and you’ll end up in credit at the end of the term, or in some cases in credit mid term and upgrade early.
My other half bought a diesel VW which after ‘dieselgate’ isn’t worth a penny. But even so, because we set realistic monthly payments, she can upgrade early as she’s currently £2k up.
 
Mark_FK8 said:
From a financial point of view you are 100% correct, but lots of people want fancy cars that they can't really afford to buy, so they just look at the monthly payments and ignore that they never have any equity or own it unless they pay the GFV which is usually more than the car is worth. On one of the BMW forums there are plenty who take out a 4 year PCP to keep the monthly payments low, get bored after 18 months and realise how much negative equity there is in the car if they want to get out of it.

Even if you do have the cash to buy that car outright, you would still lose a similar amount in depreciation if you sold after 4 years, and the APR on the PCP is 1.9% from memory, so the interest isn't that bad.

I guess you could say buying any new volume produced car (PCP or cash) and selling whilst still depreciating heavily is insane.
Click to expand...

If you bought pretty much any car at 21k you would end up with 8-10k equity at the end. You can buy a 420d xdrive msport 25k mileage, decent spec for 21k, 3 years old.

I do understand but for such a vanilla car why bother.
 
For a similar deposit and 10k per annum (the BMW example was 8k PA), you have to pay ~ £510 PCM over 36 months on a metallic GT FK8 with a GFV of £16648. They both cost a lot to end up with nothing, assuming you walk away at the end of the contract. To my mind the BMW represents better value (if you can call it that!), but they are very different cars and appeal to different customers. The torque and mid range pace on the 435d is unbelievable, but they are a bit boat like through the corners!

Obviously you will pay a lot less to buy a used car and at 3 years old the depreciation curve levels off significantly. However, people being what they are, want bright shiny brand new status symbols on the drive and aren't prepared to save, so low deposits and manageable monthly payments appeal.

PCP doesn't appeal to me, but I can see why it's attractive to others.
 
Mark_FK8 said:
For a similar deposit and 10k per annum (the BMW example was 8k PA), you have to pay ~ £510 PCM over 36 months on a metallic GT FK8 with a GFV of £16648. They both cost a lot to end up with nothing, assuming you walk away at the end of the contract. To my mind the BMW represents better value (if you can call it that!), but they are very different cars and appeal to different customers. The torque and mid range pace on the 435d is unbelievable, but they are a bit boat like through the corners!

Obviously you will pay a lot less to buy a used car and at 3 years old the depreciation curve levels off significantly. However, people being what they are, want bright shiny brand new status symbols on the drive and aren't prepared to save, so low deposits and manageable monthly payments appeal.

PCP doesn't appeal to me, but I can see why it's attractive to others.
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Exactly my opinion on the matter too. I could have got an FK8 with a good deposit with the amount my EP3 is eating up at the moment, but in my eyes if I don't have the money to buy it outright, I just don't buy it lol. Had my finance headaches with my 370Z GT a while back, no more! :)
 
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