Hey all,
I own my current 535 outright. 2015 plate 535 toyed up. Nice car on 54000. I pay £90 a month extended warranty. Remember that figure....
I am getting bored of 5 series, been in them now for 15 years and on my fourth one. Had a few niggles and I'm out of love with this car now. Seen a nice August 2019 640i Xdrive loaded with toys AUC at BMW with delivery 100 miles on it. Rather than splash my own cash on it, I looked at PCP.
Say I got roughly £14000 for mine - a realistic figure I think - and I use that as a deposit. The monthly payments come in, assuming 11000 a year mileage (more than I do currently) and that deposit for 48 months at only £230 a month. More deposit makes a huge difference to that monthly figure. Considering I am paying £90 a month currently on my 535 for extended warranty, for only an extra £140 a month outlay cost to me, quite easily affordable (no conceit intended) - I can get a practically brand new car with two and half years warranty on it still.
I know you could say, well, the car has to go back in 48 months whereas with your car you own it outright. True. But in 48 months my own car will be worth only a couple of grand. So that is hardly big money is it?
Questions.
Why would an August 2019 only have 123 miles on it?
Is my thinking sound?
I won't have to pay the whacking £885 tax will I because car already registered?
Cons. Road tax is much higher at £455 a year and insurance will be more.
I own my current 535 outright. 2015 plate 535 toyed up. Nice car on 54000. I pay £90 a month extended warranty. Remember that figure....
I am getting bored of 5 series, been in them now for 15 years and on my fourth one. Had a few niggles and I'm out of love with this car now. Seen a nice August 2019 640i Xdrive loaded with toys AUC at BMW with delivery 100 miles on it. Rather than splash my own cash on it, I looked at PCP.
Say I got roughly £14000 for mine - a realistic figure I think - and I use that as a deposit. The monthly payments come in, assuming 11000 a year mileage (more than I do currently) and that deposit for 48 months at only £230 a month. More deposit makes a huge difference to that monthly figure. Considering I am paying £90 a month currently on my 535 for extended warranty, for only an extra £140 a month outlay cost to me, quite easily affordable (no conceit intended) - I can get a practically brand new car with two and half years warranty on it still.
I know you could say, well, the car has to go back in 48 months whereas with your car you own it outright. True. But in 48 months my own car will be worth only a couple of grand. So that is hardly big money is it?
Questions.
Why would an August 2019 only have 123 miles on it?
Is my thinking sound?
I won't have to pay the whacking £885 tax will I because car already registered?
Cons. Road tax is much higher at £455 a year and insurance will be more.