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Here it is the new BMW M2

Discussion in 'Motors' started by The_One, 13 Oct 2015.

  1. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    So popped into BMW last week to discuss my order, apparently standard for the M2 on PCP is 10.8% APR but they offered me a "discounted" rate of 8.9%. Seems other dealers are offering 6.9% looking through the BMW forum. I would walk away at anything over 6.9% and even then i'm not exactly keen. It wouldn't actually be much more expensive to buy an M3/4, seems with a bit of work 18% discount is achievable and the finance is 4.9%.

    I could go down the route of Oracle PCP which is 6.9% and Halifax offer 3.6% but you have to be a customer (minimum 3 months) does anyone else know of a PCP provider that offer a better rate than 6.9% APR?

    Sam
     
  2. Havana_UK

    Mobster

    Joined: 14 Oct 2004

    Posts: 4,880

    Location: location, location

    BMW offered me 6.4% on PCP with £10K down.

    Doubt you'll manage to get any discount on an M2, but you probably would on an M3, which means the prices for the two aren't that far apart (and I think they offer better interest rates on M3/M4 too - I'm sure I've seen 4.9%)
     
  3. Housey

    Man of Honour

    Joined: 21 Feb 2006

    Posts: 26,651

    You should be able to get an M3 cheaper than an M2 at the moment, big discounts on M3's if you push I believe (up to and maybe over 14%) and better finance packages if that's how you fund.
     
  4. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    What you were offered 6.4% on an m2? Which dealer was that?

    No chance of a discount on the m2, as stated above 18% is possible with 4.9% APR on the m3/4. It makes both cars around the same cost over 3 years.
     
  5. Housey

    Man of Honour

    Joined: 21 Feb 2006

    Posts: 26,651

    M3 is where I would put my money.....well actually it's not or I would have, but you know what I mean :D
     
  6. Havana_UK

    Mobster

    Joined: 14 Oct 2004

    Posts: 4,880

    Location: location, location

    Lancaster Milton Keynes. I assume it was 6.4%, that's what was discussed in the dealership but when I was sent the figures (the M2 wasn't on the finance system until 6/11) it didn't state the rate, just the deposit / monthly cost / GMFV.

    /edit: just did some calculations, seems it's closer to 6.8% actually.
     
  7. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    It's very tempting in YM Blue ... I actually prefer the m3 over the m4!

    Sam
     
  8. mrk

    Man of Honour

    Joined: 18 Oct 2002

    Posts: 87,155

    Location: South Coast

    A car launch video with 95% shaky camera. Great.

    Also an M car video with 100% music spoiling the sounds? The video says it's in-line 6, so is it not turbo charged? I want to hear it. I bet it sounds a bit meh, hence why they audio dubbed over the entire thing.

    Edit*
    Having seen the other videos, it does indeed sound meh. Why can't they make cars sound properly organic any more? It just sounds artificial. Seems AMG are the only ones that have consistently pulled through in this department.

    I will say this though, if I ever have a few grand kicking around for no reason, then i would take my car to main dealers for a respray in that colour :o
     
    Last edited: 16 Nov 2015
  9. Housey

    Man of Honour

    Joined: 21 Feb 2006

    Posts: 26,651

    M3 is the one
     
  10. Gibbo

    Commissario

    Joined: 17 Oct 2002

    Posts: 33,747

    Location: OcUK HQ



    Maybe it is just me or the photos but it looks out of proportion, almost like it got squashed in length and then over-sized wheels put on it. Has gotta be the photos, if it really looks like that the M3/M4 is a vastly better looking car. :confused:
     
  11. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    I have to say i really like that, the flared arches look great up close. The M3 is a faster more capable car for the money but if the M2 run stays fairly limited the residuals will be so much better which would bring the overall cost of ownership down.

    I have done some rough sums and the M2 @ £48,150 OTR on a PCP @ 6.9% APR would end up costing me roughly £19K over the 3 years based on a resale value of £35,000 which i think is about right providing the car is on a limited run of 500 cars per year (unconfirmed at the moment)

    The M3 specced at £60,755 on a PCP @ 4.9% APR would end up costing me roughly £22k over the 3 years based on a resale value of £32,000

    Sam
     
    Last edited: 17 Nov 2015
  12. Kingy

    Mobster

    Joined: 18 Oct 2002

    Posts: 3,403

    Location: Leicester

    Have those residual values been underwritten by BMW by way of a GFV?

    I don't follow your numbers on 3 year costs?
     
  13. Gibbo

    Commissario

    Joined: 17 Oct 2002

    Posts: 33,747

    Location: OcUK HQ



    So 6k more to own an M3 over 3 years, so 2k per year? Based on what I can see right now I'd be paying the extra, but of course have not seen an M2 in the flesh and would not personally make a decision until I'd seen both next to each other and driven both. :)
     
  14. Sam

    Capodecina

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    The M3 would cost around 3k more over the 3 years but truth be told i am guestimating the resale values so it could be closer than that.

    The M2 have pretty much already fully sold out for the 2016 allocation so unfortunately driving the car is a luxury, i'm bloody lucky i spotted a test car as i've not seen many other pictures of the car in the UK.
     
  15. Havana_UK

    Mobster

    Joined: 14 Oct 2004

    Posts: 4,880

    Location: location, location

    I think your expectation of the residual value is too high. For reference, an M2 with DCT plus a couple of other bits works out at £49k (!) and with £10k down and 10k miles per year the GMFV is only just under £24k.
     
  16. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    The GMFV is generally an under valuation, my M135i is set at 14.5k but actually nearer 19-20k if i was to sell privately.

    If the car is a limited run then i see no reason why after 3 years and lets say 24k it wont be worth 32-35k. Look at 1M prices, sure this model was limited to what 450 in the UK but you need a good 45K for a good example.

    Sam
     
    Last edited: 17 Nov 2015
  17. Aeleys

    Soldato

    Joined: 25 Aug 2010

    Posts: 5,216

    inb4itsoundsnothinglikethat
     
  18. SDK^

    Capodecina

    Joined: 18 Oct 2002

    Posts: 19,154

    The upper price for a 1M is £45k, they start from £30k.
    I think the only relevance is your man maths is looking shakey. For sure the GFV on the M2 is unknown but you need to be realistic.
     
    Last edited: 17 Nov 2015
  19. DAIR

    Sgarrista

    Joined: 23 Jul 2009

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    Location: Cayman Islands

    Thats only because the 1M was a proper limited edition car. The M2 won't be limited.
     
  20. Sam

    Capodecina

    Joined: 12 Jan 2003

    Posts: 14,490

    Location: Surrey

    Of course a little man math comes into play ;), perhaps 30K is a better more reliable estimation.

    About 38-40K is about right for a decent 1M, cheapest one on PH is £34k with 65k miles.

    Im pretty sure it will, although not confirmed 2000 units seems to be the most reliable number. Now this isn't 450 like the 1M however it is still a limited run.