[ASAP]

Did you - POLL?

[visualexstasy]

Lease. Got original MSRP from 70k down to $61k through leasing.

[ASAP]

Originally Posted by visualexstasy

Lease. Got original MSRP from 70k down to $61k through leasing.

Just added a poll - not sure how the polls let you post BEFORE you insert a poll .

[IAmSpeed]

This is an interesting poll! Curious on the end result

[ASAP]

Interesting... cash purchasers leading the way!

[TommyK154]

I can’t believe this many people are paying cash on ~$70k cars. I can only imagine the trade in amount is substantial (or they’re just loaded)

[ASAP]

Originally Posted by TommyK154

I can’t believe this many people are paying cash on ~$70k cars. I can only imagine the trade in amount is substantial (or they’re just loaded)

it doesn't align w all of the interest rate discussions

[Oldgixxer]

I previously purchased all my AMG Benzes and after losing tens of thousands of dollars since I only kept them a few years before getting into something new,I just lease now. AMG's depreciate at a horrendous rate,at least they did when I owned em. Never again.

[Houranimd49]

Originally Posted by TommyK154

I can’t believe this many people are paying cash on ~$70k cars. I can only imagine the trade in amount is substantial (or they’re just loaded)

Me too. I try to see it as inspiration. I have a dream to buy cash brand new, as long as it’s my dream car and I know it’ll outlive me.

[seyre1972]

I recently ordered / modified an existing allocation with a dealer - Final spec/Order placed 23/06/23:

Build Stages:

111 - 04.05.2023 # Original order placed/future build slot reservation
112 - 23.06.2023 # My final Spec/Order confirmed
150 - 03.07.2023 # Build started
153 - 17.07.2023 # Build completed/hadned over to sales/shipping
154, 155 and 160 on the 18.07.2023.
165 - 20.07.23 # Awaiting movement to docks for shipping/forwarding to UK.

So currently sat awaiting transport to Durban Docks for shipping to Southhampton - expected early September (which is fine as we get new registration places (so will be a 73 plate) from 1st September))

In the UK - we have something called Carwow - where you put what you're after - and the dealers make offers:

As mine was a new build - off list/spec ordered I saved approx 5.2k (9.2%)

What was in my favour was:

1. They had allocation/build slot - but maybe not many orders being placed.
2. Order/build slot falls maybe within quarter end - so sales targets to be hit.
3 Given % interest rate rise, number of orders they are taking for say maybe 1/2 series on PCP (pay interest/depreciation only on finance/don't own car etc) So allocating extra discounts to those orders being placed - again maybe in my favour.

In short I got 5.2K Dealer contribution towards my order.

I'm a cash buyer this time (self financing) as I can do this cheaper than what BMW UK were offering/will own the car outright from day 1.

[avi66]

There are many variables to consider as to what method of purchase is best based on individual criteria.

Personally, I looked at

1. Best use of my capital
2. Discount
3. Residual value risk
4. Option to own v UK lease (affects insurance product)

In my case, UK PCP, a form of Hire Purchase finance with an ownership option, offered the best solution.

Capital - 2.99% BMW finance and the capital not used to purchase the car outright is now earning > 6% interest tax free. Win for me.

Discount - At the time of order, I had no trade-in and negotiated £9k off MRSP on new car order. Win for me.

In four years' time, I have no idea of the residual of a diesel car in the UK, hence I would prefer BMW to shoulder this risk. If the residual value in four years is higher than the PCP GTV; I can choose to sell/trade the car and have equity, or pay the balloon payment and just keep the car, or if the residual is poor, and less than the GTV, just walk away. Win for me on flexibility/risk.

YMMV.

[seyre1972]

Originally Posted by avi66

There are many variables to consider as to what method of purchase is best based on individual criteria.

Personally, I looked at

1. Best use of my capital
2. Discount
3. Residual value risk
4. Option to own v UK lease (affects insurance product)

In my case, UK PCP, a form of Hire Purchase finance with an ownership option, offered the best solution.

Capital - 2.99% BMW finance and the capital not used to purchase the car outright is now earning > 6% interest tax free. Win for me.

Discount - At the time of order, I had no trade-in and negotiated £9k off MRSP on new car order. Win for me.

In four years' time, I have no idea of the residual of a diesel car in the UK, hence I would prefer BMW to shoulder this risk. If the residual value in four years is higher than the PCP GTV; I can choose to sell/trade the car and have equity, or pay the balloon payment and just keep the car, or if the residual is poor, and less than the GTV, just walk away. Win for me on flexibility/risk.

YMMV.

Similar position - as in I’ve come from PCP, to a cash purchase. Maxed out ISA/Premium bonds etc so using excess cash - That and the 7k of equity/trade in for my existing car which they wanted for stock/already listed for sale etc.

Finance on X3 was offered at 5.9% end og]f June, chance was it was only going to go up in July/August.

[EWL5]

I'm surprised at how few leasers there are from folks submitting to the poll.

I thought leasing was BMW's bread and butter...

[ASAP]

Originally Posted by EWL5

I'm surprised at how few leasers there are from folks submitting to the poll.

I thought leasing was BMW's bread and butter...

very little about the results so far is making any sense... at least based on other convos here ... maybe the usual, people SAY different things than they actually do...

there are almost no leasers and a ton of cash buyers

short term loans being low I did expect however

[bocabimmer]

I kind of get it… either you have great credit and got a low rate and are holding onto the cash for other investments with a high yield or you’ve got really great cash reserves and don’t want to even bother paying the bank the interest.

I was surprised by the lack of leases too. But then again the rate of M40s on the forum seems disproportionately high so maybe most leases are not the custom order/M40 type enthusiasts.

[alex2364]

COVID killed lease deals. I was a consistent leaser for 3 BMWs until I financed in 2023.

[Jen4BMW]

Leased my 2022 M40i. 5% off MSRP and $1,400 equity applied from 2019 X3 30i I traded in 1 year early. Decent MF and RV. Next summer I’ll either keep the M40i because it’s an amazing vehicle that does so many things perfectly or I might consider a 2025 X5 which is looking interesting although the loss of buttons with iDrive 8 makes me shudder.

[Bob in IL]

On both cars I financed for 2 months for the incentive and paid off both after that.

[clivem2]

I paid cash though with the cooperation of the sales person I signed up for a PCP then paid it off. This got me the additional BMW Finance contribution, the discount overall was around 20%. I paid the loan off once the sales person got his commission, the dealership returned the month of interest I had to pay.

I would have kept the PCP but at the time the interest rate was too high vs savings rates for it to work for me. I plan to keep the car for 7 years or more.

[The Libertine]

Will usually finance, but never lease.

[G-M5]

Leased. 71k msrp , 15k miles

[COM40]

Between this and the "what do you do for a living" post, some interesting demographic threads going on. Now we just need some polls for age, income, and net worth


I'm in the minority of used cash buyers. I didn't see the value in spending nearly $25k more to get something that's functionally very similar. ID7 and a warranty would be nice, but I'm confident out of pocket repairs will not come anywhere near that difference.