[MRPoisson]

Anyone know if the pcp interest rate is negotiable on BMW AUC's? The current rate seems to be 10.9%.

[JonD]

Doubt it, you can always source your own finance from someone else.

[Nick the Greek]

Everything is negotiable

[ukbeemerboy]

Originally Posted by MRPoisson

Anyone know if the pcp interest rate is negotiable on BMW AUC's? The current rate seems to be 10.9%.

It's normally why it's as cheap to buy new

[MRPoisson]

Originally Posted by ukbeemerboy

It's normally why it's as cheap to buy new

Exactly but these cars must get sold. Are they potentially just ripping the innocent buyer who's not aware of the price differential to a new one?

[....,,,,..,,..]

Originally Posted by ukbeemerboy

It's normally why it's as cheap to buy new

+1

It's also one of reason majority of general public are buying BMW.

They offer competitive (if not the best) pcp deals on new.

Obviously in 2-3 yrs time, it will be like 1929 for BMW resale prices.

[MRPoisson]

Originally Posted by JonD

Doubt it, you can always source your own finance from someone else.

Most lenders cap at £25k for unsecured.

[ukbeemerboy]

Originally Posted by MRPoisson

Exactly but these cars must get sold. Are they potentially just ripping the innocent buyer who's not aware of the price differential to a new one?

Your on a BMW forum so you've obviously come on here to seek advice from BMW enthusiasts. The rest of the public don't bother and so they buy the cars blind with higher interest rates. Also if they have a trade in worth say 50% of the value of the car they are looking at, the finance required is a lot lower if required at all.

[MRPoisson]

Basically I've seen a AUC 420d GC with the right spec but it is listed at £34.5k with 10.9% apr on PCP. With current discounts on new nearly 15% and low PCP rates it would be cheaper to buy new unless they would be willing to seriously discount......

[....,,,,..,,..]

Originally Posted by ukbeemerboy

Your on a BMW forum so you've obviously come on here to seek advice from BMW enthusiasts. The rest of the public don't bother and so they buy the cars blind with higher interest rates. Also if they have a trade in worth say 50% of the value of the car they are looking at, the finance required is a lot lower if required at all.

Also, they always assume 2nd hand cars are cheaper by a wide margin, than buying a new car.

However, as most of us have seen, there is not actually a great deal in it and you get the car you want for a few pounds more per month.

[RalphyBMW]

It's not just the apr that's lower, but the MGFV will always be stronger on new.

[Geo's comps]

Originally Posted by MRPoisson

Anyone know if the pcp interest rate is negotiable on BMW AUC's? The current rate seems to be 10.9%.

Originally Posted by Nick the Greek

Everything is negotiable

Originally Posted by RalphyBMW

It's not just the apr that's lower, but the MGFV will always be stronger on new.

I was told on Auc, the finance rate is negotiable, I didn't get to see how much by.

[RalphyBMW]

With new the finance is heavily subsidised, with used, unless BMW FS is doing a promo then the subsidy is from the dealer. I.e you are paying for it through the price of the car.

The APR calculation for a PCP is different to a straight loan, due to the significant balance that doesn't get repaid. I would guess that it would be very tough to get a non-subsidised PCP below around 7% APR.

[Nick the Greek]

Originally Posted by MRPoisson

Basically I've seen a AUC 420d GC with the right spec but it is listed at £34.5k with 10.9% apr on PCP. With current discounts on new nearly 15% and low PCP rates it would be cheaper to buy new unless they would be willing to seriously discount......

Laughable.

Base rate is 50 basis points.

BMW finance will be able to source funds in the market for say 100 basis points more than base.

So they pay 1.5% for the money.

How much are you prepared to pay.

[MRPoisson]

Originally Posted by Nick the Greek

Laughable.

Base rate is 50 basis points.

BMW finance will be able to source funds in the market for say 100 basis points more than base.

So they pay 1.5% for the money.

How much are you prepared to pay.

My sentiments exactly. I would be looking at circa 450pm

[Nick the Greek]

Originally Posted by MRPoisson

My sentiments exactly. I would be looking at circa 450pm

Decide how much you are prepared to pay (per month).

Tell the dealer.

Be prepared to walk away.

[Ss66]

My dealer wanted £450 a month for a fully loaded new 335d without any deposit .

[Chompers]

The 10.9% quoted rate on the AUC website is a nationwide agreed rate by the dealers. Every business manager has the option to negotiate on this rate new or used. Negotiating the rate should should always be done after the deal for the car is done, clearly having an idea of monthly payments before hand. The dealer will not want you to walk when they are so close to getting the deal.

Used AUC vehicles can be great buys, but you have to put in a little more effort and be prepared to travel. While the current levels of new car discount seem very inviting it only leads on to issues down the line due to ever poorer residual values. You can't have your cake and eat it.

[Chompers]

Originally Posted by Ss66

My dealer wanted £450 a month for a fully loaded new 335d without any deposit .

Look forward to seeing the pics when you get it

[Chompers]

Originally Posted by MRPoisson

Basically I've seen a AUC 420d GC with the right spec but it is listed at £34.5k with 10.9% apr on PCP. With current discounts on new nearly 15% and low PCP rates it would be cheaper to buy new unless they would be willing to seriously discount......

Seem to plenty around the £29,995 mark, what extra does this car have?

[MRPoisson]

Originally Posted by Ss66

My dealer wanted £450 a month for a fully loaded new 335d without any deposit .

F36 discounts are no where near F30's unfortunately!

[MRPoisson]

Originally Posted by Chompers

Seem to plenty around the £29,995 mark, what extra does this car have?

It's only a month old and has the M Sport + pack.