[adam.b]

Was told this by salesman when buying my first bmw.

https://www.dailymail.co.uk/money/ca...ercharged.html

[doncarlyon]

I would have thought this was fairly obvious to anyone who can do basic maths?

[aquazi]

Not to mention most dealers will list options which affect the GFV.

Admittedly most of the options have no impact on the GFV - but thats the price to pay if you want some nice bits - they are optional after all!

[AyrshireColin]

I kinda struggle with the notion of it being 'hidden' - no it's not.

[AyrshireColin]

ps. I smell the ground works being laid for 'miss selling' campaign.

Welcome to 2019 - where your shit decisions are always someone else's fault!

[g9icy]

I don't understand how anyone can consider these as "hidden" costs...

You pay £2k for some expensive option, guess what, your payment goes up ~£40 a month...

[JustChris]

'Investigation reveals'

The Daily Fail is ridiculous.

[Lincoln61]

Its not hidden, its an extra cost!

If people are too stupid to understand that they will pay extra it makes you wonder if they should be even driving without supervision!

[Malone]

The whole optional extras not increasing GFV is such a con! They make little to no extra when handing the car back, but when it goes up for AUC, it's advertised as high spec and is more expensive than a like for like model with less spec!
But yes, people who are stupid enough to not realise it's going to cost them more shouldn't be allowed to sign the finance!

[isleaiw1]

Originally Posted by Malone

The whole optional extras not increasing GFV is such a con! They make little to no extra when handing the car back, but when it goes up for AUC, it's advertised as high spec and is more expensive than a like for like model with less spec!
But yes, people who are stupid enough to not realise it's going to cost them more shouldn't be allowed to sign the finance!

Sell it privately then - or to a dealer group. Handing back is only one option....

[RobUK]

I've always taken the view that extras are just money down the drain. Back in the day it used to be only leather and satnav that you'd get a very small percentage back on but not sure if even that is true today.

[Malone]

Originally Posted by isleaiw1

Sell it privately then - or to a dealer group. Handing back is only one option....

It is - but I wonder how many people take the other routes at the end of their finance agreement - do you not think that it's a bit of a con?!

[Malone]

On another note - If the mail find a story out of this, wait until these people realise they've paid interest on the GFV portion of the car cost, whether they keep it or hand it back....

[isleaiw1]

Originally Posted by Malone

It is - but I wonder how many people take the other routes at the end of their finance agreement - do you not think that it's a bit of a con?!

No, but I am a numbers man. Its all a balance, how much do I want something versus how much it adds to the cost (total or monthly). I like to pick stock cars for that reason as it focuses my mind on how much I really want something versus how much it adds to the cost.

I havent yet kept a car to the end of a finance agreement so the "nothing in the GFV" bit doesnt apply to me. I generally take the view most of the extras will add zero at sale time but help me sell it quicker...

Just sold my SQ5 - they were definitely interested in extras (the bigger wheels and pan roof were plus points) and full service history. Black inside seemed to be a positive too...

Lets see how the new one goes and whether any of the extras on that are desirable come sale time - maybe the MPE...?

[HighlandPete]

Originally Posted by aquazi

Not to mention most dealers will list options which affect the GFV.

Admittedly most of the options have no impact on the GFV - but thats the price to pay if you want some nice bits - they are optional after all!

Doesn't take much working out, does it?

To me, it's the real cost of motoring, if you want the options and trade in before getting the full benefit from them.

Another reason to buy 'nearly new', if you want a well optioned car. Can be great savings if you do it right.

[JustChris]

Originally Posted by Malone

The whole optional extras not increasing GFV is such a con! They make little to no extra when handing the car back, but when it goes up for AUC, it's advertised as high spec and is more expensive than a like for like model with less spec!
But yes, people who are stupid enough to not realise it's going to cost them more shouldn't be allowed to sign the finance!

I do agree with this. Dealers want it all their own way!

New - extras cost
Finance - extras cost
AUC - extras cost

Trading in - Whatever!.....

[AlanQS]

If you take your highly optioned, paid for car into a dealer as a trade-in against a new car, they always quote you the guide price for the standard model. So, is it any wonder that the GFV payment is also based on the 2nd hand value of the standard car.

Mind you, as some posters have said, if the car has lots of desirable options the dealer will make full play of that when selling it on. Remember their line when you say the options cost fortunes "sir, options are very much a personal choice and we can't impose their cost onto someone else in the hope that they like them as well. It won't do our business any good."

Mainly bullshit, but it does have a smidgin of truth. Every make of car does it that way, as far as I can see, they always have. But, I suppose a lot of people haven't spotted it.

What can you say...

[225]

A business makes money from people who dont do their research. Shocker.

Quite frankly long may it continue if it means the dealers are will to do decent deals for those of that can be bothered!

[Broncho]

I suppose one of the issues is that CAP and Glass’ don’t or never did take into account any options at all so cars when used were priced as a basic spec car, I’ve no idea if this has changed or not but last time I had access a couple of years back it hadn’t.

On 2, 3 and 4 year deals on finance why would you stick on loads of options on, surely for what they cost you could move up to a better car?

Always makes me laugh when people say such an option is a must have, or I wouldn’t have that without these options, sure fire way to flush even more cash down the bog.

ETA I’m assuming this is why packages are now offered which makes sense.

[HighlandPete]

Originally Posted by Broncho

On 2, 3 and 4 year deals on finance why would you stick on loads of options on, surely for what they cost you could move up to a better car?

Always makes me laugh when people say such an option is a must have, or I wouldn’t have that without these options, sure fire way to flush even more cash down the bog.

ETA I’m assuming this iswhy packages are now offered which makes sense.

I suppose it is all about choices and priorities, how much money we are prepared to throw away. BMW have always been expensive to option, so we are not into unknown costs.

I agree on loading with options and only running a short period. Doesn't make financial sense, when we know we write off most of the value in a short period. My car has about £15k's worth of options, added about 33% more to the basic car's cost. It is why I wouldn't buy it new. At a year old, 40% off list, makes much more sense, paying less than £5k for the same hardly used, (only 6k miles) options.

[robbiep]

Originally Posted by Broncho

I suppose one of the issues is that CAP and Glass’ don’t or never did take into account any options at all so cars when used were priced as a basic spec car, I’ve no idea if this has changed or not but last time I had access a couple of years back it hadn’t.

On 2, 3 and 4 year deals on finance why would you stick on loads of options on, surely for what they cost you could move up to a better car?

Always makes me laugh when people say such an option is a must have, or I wouldn’t have that without these options, sure fire way to flush even more cash down the bog.

ETA I’m assuming this is why packages are now offered which makes sense.

I know that in the old 'books', Glass's had sections where various options were listed, and their effect on price at various ages listed too.

[aquazi]

Its all about choice - I optioned a fair few bits to my car - even though up front I knew at a 4 year PCP i would VT at year 3 - and they would be worthless.

Could i live without HUD, adaptive suspension etc in 3 years 45K miles - sure! but with the time I spend in my car daily i want some enjoyment - otherwise may as well have got an Hyundai/ Kia etc!