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      01-20-2014, 06:40 AM   #67
pi22adough
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Originally Posted by rjn21 View Post
So let's say your car is 65k. As its 0% finance there is the same cost of borrowing 30k, or 65k - ie nothing. So borrow the full 65k. Payments per month are of course higher.

At the same time you pay some holding deposit to the dealer (not a finance deposit) and you give your old car as trade in. So the dealer gets 65k from BMW Finance UK + your deposit + your trade in car, when all they want is 65k for the new car. ie they end up owing you your deposit and trade in value.

You have 0 equity in the car from day 1, but who cares, why have equity in a depreciating asset. As long as you understand that come trade in time next time your M5 is unlikely to have significant equity in it.

If you want to be really funky (some dealers get this others think you are money laundering), increase the purchase price of the new car to list BUT also increase your trade in value by same amount. Say your trade in is 15 and list is 78.

Your deal is 65 for new and 15 for trade, but you finance full 65. ie they owe you 15k.
If increase purchase to list of 78 and increase your trade in 28, but you finance the full 78, ie they owe you 28k.

It's a cheap way of borrowing money at 0%. The dealer takes a loss on the trade in but books the new car at list.

Some dealers get it, others think you are trying to screw them, others think you are money laundering. Neither I'm sure would be the case, but it all depends whose P&L new car sales and trade ins end up on.
Wow.u do have some great tips going on there.
BT I saw your car in Bowness/cumbria/lake district.You parked just by the lake
Ur car got me looking into getting an m5.currently own an m3.
Looking to get a ss2 colour m5.
Maybe you could help me with some tips if u don't mind.
How would u get into an m5 if u have 30k deposit (trade in)?
On the topic of your car......its bloody nice.i actually took some pictures when u was approaching your car.....felt like a right numtty
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      01-20-2014, 07:31 AM   #68
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Quote:
Originally Posted by pi22adough View Post
Wow.u do have some great tips going on there.
BT I saw your car in Bowness/cumbria/lake district.You parked just by the lake
Ur car got me looking into getting an m5.currently own an m3.
Looking to get a ss2 colour m5.
Maybe you could help me with some tips if u don't mind.
How would u get into an m5 if u have 30k deposit (trade in)?
On the topic of your car......its bloody nice.i actually took some pictures when u was approaching your car.....felt like a right numtty
Just FYI you could only get Zero% interest when a 40% deposit was paid, if your PX was worth more than that, a cheque for the difference would be issued to you.
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      01-20-2014, 07:52 AM   #69
pi22adough
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Originally Posted by johnbmw6 View Post
Just FYI you could only get Zero% interest when a 40% deposit was paid, if your PX was worth more than that, a cheque for the difference would be issued to you.
Cool
I just dont know witch way to go.new vs used.
Ther is a M5 coming up soon near me.and its bang on with the spec.
The price is right to:52k its september 12, with 12k on clock.
I just have a problem with BMW's 14%apr on used cars.
Not to keen on brand new as u get hit with depritiation.
Could just pay fir it with savings but thats not to clever i supose?!
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      01-20-2014, 08:06 AM   #70
rjn21
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Finance deals may have changed this 1/4, but I had £0 finance deposit, 0% APR, and a cheque back for the dealer deposit and trade in.

14% is somewhat high. From Alphera I got 2% for a different vehicle.
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      01-20-2014, 08:07 AM   #71
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Quote:
Originally Posted by johnbmw6
Quote:
Originally Posted by pi22adough View Post
Wow.u do have some great tips going on there.
BT I saw your car in Bowness/cumbria/lake district.You parked just by the lake
Ur car got me looking into getting an m5.currently own an m3.
Looking to get a ss2 colour m5.
Maybe you could help me with some tips if u don't mind.
How would u get into an m5 if u have 30k deposit (trade in)?
On the topic of your car......its bloody nice.i actually took some pictures when u was approaching your car.....felt like a right numtty
Just FYI you could only get Zero% interest when a 40% deposit was paid, if your PX was worth more than that, a cheque for the difference would be issued to you.
I got zero percent with a 10% deposit.
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      01-20-2014, 08:11 AM   #72
Stash21
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Quote:
Originally Posted by pi22adough
Quote:
Originally Posted by johnbmw6 View Post
Just FYI you could only get Zero% interest when a 40% deposit was paid, if your PX was worth more than that, a cheque for the difference would be issued to you.
Cool
I just dont know witch way to go.new vs used.
Ther is a M5 coming up soon near me.and its bang on with the spec.
The price is right to:52k its september 12, with 12k on clock.
I just have a problem with BMW's 14%apr on used cars.
Not to keen on brand new as u get hit with depritiation.
Could just pay fir it with savings but thats not to clever i supose?!
14% is a massive apr. whilst tying up cash you would be much better off using savings.

A car is less liquid, but the difference is cost would be worth it at this level if finance.
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      01-20-2014, 08:22 AM   #73
pi22adough
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Quote:
Originally Posted by Stash21 View Post
14% is a massive apr. whilst tying up cash you would be much better off using savings.

A car is less liquid, but the difference is cost would be worth it at this level if finance.
The best I got so far was from Oracle it is around 10%
My M3 was paid for to and lost about 10k in two years but I love the fact that I'm just putting petrol in it.
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      01-20-2014, 08:26 AM   #74
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Quote:
Originally Posted by pi22adough View Post
Cool
I just dont know witch way to go.new vs used.
Ther is a M5 coming up soon near me.and its bang on with the spec.
The price is right to:52k its september 12, with 12k on clock.
I just have a problem with BMW's 14%apr on used cars.
Not to keen on brand new as u get hit with depritiation.
Could just pay fir it with savings but thats not to clever i supose?!
I must add that this ONLY applied to NEW Cars.
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      01-20-2014, 08:32 AM   #75
pi22adough
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Originally Posted by johnbmw6 View Post
I must add that this ONLY applied to NEW Cars.
I was sure.this I when u see how much money they make by selling ONE car several times for different costumers with different financing
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      01-20-2014, 08:33 AM   #76
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Quote:
Originally Posted by pi22adough
Quote:
Originally Posted by Stash21 View Post
14% is a massive apr. whilst tying up cash you would be much better off using savings.

A car is less liquid, but the difference is cost would be worth it at this level if finance.
The best I got so far was from Oracle it is around 10%
My M3 was paid for to and lost about 10k in two years but I love the fact that I'm just putting petrol in it.
10% is still large. Over 3 years you would be looking at around 12k in finance costs. For me I would use savings. The interest rate would need to be 5% to be worth considering given the large sum involved.
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      01-20-2014, 09:06 AM   #77
pi22adough
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Originally Posted by Stash21 View Post
10% is still large. Over 3 years you would be looking at around 12k in finance costs. For me I would use savings. The interest rate would need to be 5% to be worth considering given the large sum involved.
Im more likely to get a used one so i maybe only finance 25k over 4years at 10%
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      02-06-2014, 10:37 PM   #78
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I was looking at an SL63 & M6 and both would have been cheaper to buy new due to better residual & 0% finance. The numbers were pretty close, but still the deals on new are generous - 0% finance is killer on cars of this value. £125k was my SL63 spec, £0 deposit I was shooting for... however I'm young, run a business startup and rent my house so 0% was never going to happen haha. I look forward to getting cheap credit one day....


Anyway, back to the first post... I love the upgrades you did and I have really been wishing I had the B&O speakers in my M6 lately (I guess its the same deal to install as the m5?). £5k-ish would be justifiable I think... but who do I need to contact to do this? Can I go through my local dealer to retro-fit? I am in Poole UK.

Thanks a lot for any help.
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      02-07-2014, 04:37 AM   #79
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I don't know the parts list for the 6, it will be similar, probably the speakers are the same but all the trims will be different and I think the centre speaker unit us different. To get the parts list use either realoem or subscribe to bmw tech info to get full EPC access, then you need to work through the relevant 6 (I don't know if coupe, cab and grand coupe are the same) and check all the parts and trims for a car with B&O. In terms of install, your dealer can do it, if they are up for it, but it's not an Appeoved bmw retrofit, so they can't code the NBT for B&O. You will need to do that yourself with esys. You will also need a wiring loom which has to be made to the car. PM for details of where to buy that from. It's not a BMW part as such but the vendor makes them up with all the bmw connectors. Bank on 2 full days at hourly rate as a minimum. If you don't already have 11 speakers with front door tweeters, forget it. Sell the car and buy a new one. To fit all the kit needed to go to B&O I'd guess 10 to 15k. My BMW dealer did do it but not sure that they want to do another one. I knew all the coding required so they were happy I wouldn't complain when it didn't work on handover.
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      02-07-2014, 07:32 PM   #80
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Quote:
Originally Posted by rjn21 View Post
I don't know the parts list for the 6, it will be similar, probably the speakers are the same but all the trims will be different and I think the centre speaker unit us different. To get the parts list use either realoem or subscribe to bmw tech info to get full EPC access, then you need to work through the relevant 6 (I don't know if coupe, cab and grand coupe are the same) and check all the parts and trims for a car with B&O. In terms of install, your dealer can do it, if they are up for it, but it's not an Appeoved bmw retrofit, so they can't code the NBT for B&O. You will need to do that yourself with esys. You will also need a wiring loom which has to be made to the car. PM for details of where to buy that from. It's not a BMW part as such but the vendor makes them up with all the bmw connectors. Bank on 2 full days at hourly rate as a minimum. If you don't already have 11 speakers with front door tweeters, forget it. Sell the car and buy a new one. To fit all the kit needed to go to B&O I'd guess 10 to 15k. My BMW dealer did do it but not sure that they want to do another one. I knew all the coding required so they were happy I wouldn't complain when it didn't work on handover.

Thanks a lot for the really great info. It sounds like a tonne of work, I will wait til work calms down a bit so I can spend some quality time learning about it properly. Might just leave it and get a new exhaust as my treat instead!
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      02-07-2014, 07:56 PM   #81
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Edit: I didn't read sorry guys..
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