Any Scottish buyers.few questions etc

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Subevo

Member
Joined
Aug 4, 2014
Messages
7
Hi folks just placed £1000 deposit in Glasgow for Rex.
Problem is dealer is saying nov delivery for new car or I can buy their i3 in nov that they have owned for a year.but how much it's worth will be determined by head office.

Would you buy outright with savings.pcp with bmw or lease.
I usually get a personal loan so I've no experience of a pcp.

Also how much do you think the 1 year old car will be worth come nov and at what price would make you consider it against buying the new one.

Plus is anyone managing to charge for free in and around glasgow.
 
I cant advise on the buying side of it for you but I can comment on charging in Glasgow. You need to obtain a CYC card firstly(think its £10 a year which will give you access to the chargers in the city council car parks as well as some of the on street bays(wilson st etc). Its free to park whilst charging and works well. I think this is going to be like this until the end of the year but hopefully the council extend this :)
 
Hi Subevo.

Are you still buying the Rex? With regards to costing, you could use the mileage and assumed PCP costs to get an idea of what a 1 year old one may cost. Example £30k car new with £3k deposit at 12k miles a year... PCP monthly payment around £470 on a 3 year plan. After one year, the owner would have spent £3k + £5.17k (initial deposit + 11 instalments of £470). That could mean that BMW expects a maximum depreciation of about £8k in the first year at 12k miles. That's 27% :eek: I think this is a cautious estimation on BMW's part if these calculations are a true reflection.

Depending on the mileage on the car, you will need to estimate the potential discount. I have seen some dealers sell at full price if the car has not been pre-registered even if it has been driven for 1k miles. When pre-registered, you could be lucky to get 10% off if a car is on the most wanted list in Glasgow!

I tried getting my dealer to sell me a show car but he was really reluctant..
 
Hi thanks for the reply.

I've been looking at predicted depreciation .what car have a depreciation calculator.put i3 in and it said 40% in first year approx £15000.loss on a £33000 car.

Also put reg no. Of a 1 year old i3 into webuyanycar. And it says £16000.cant see dealer selling for less than £20000.greedy buggers will probably want £25000.

Now I'm thinking of just leasing £3000 deposit plus £370 for 36 months=£16000.

Other thing that bugs me is other bmw models have a bmw contribution of £5400 and a lower interest rate.effectively bmw are paying the pcp deposit.

On my i3 pcp quote.its £5000 interest over the term.which is a lot.
 
Subevo said:
Hi thanks for the reply.

I've been looking at predicted depreciation .what car have a depreciation calculator.put i3 in and it said 40% in first year approx £15000.loss on a £33000 car.

Also put reg no. Of a 1 year old i3 into webuyanycar. And it says £16000.cant see dealer selling for less than £20000.greedy buggers will probably want £25000.

Now I'm thinking of just leasing £3000 deposit plus £370 for 36 months=£16000.

Other thing that bugs me is other bmw models have a bmw contribution of £5400 and a lower interest rate.effectively bmw are paying the pcp deposit.

On my i3 pcp quote.its £5000 interest over the term.which is a lot.

All of the numbers you relay make no sense compared to what other people have shared and actual information from BMW finance. Couple of people shared their numbers in this thread.
 
Subevo said:
.

I've been looking at predicted depreciation .what car have a depreciation calculator.put i3 in and it said 40% in first year approx £15000.loss on a £33000 car.

Hi Subevo,
I'd take Whatcar's depreciation opinion with a pinch of salt. There is really nothing like the i3 out there to compare its depreciation to. My guess is that they have used values from the Leaf or Ampera as an analogue. Of course the Leaf is a whole different story...

Also note that the 40% depreciation after one year is based on list price excluding the £5k govt grant. So, £33k new car (£38k without grant) will depreciate to around £23k after one year according to Whatcar. They probably assume the grant continues.

Leasing isn't a bad idea with the numbers you've shown. It's likely that the £16k you lease for will be at least slightly more than the car's expected depreciation over three years. Remember that the lease company is making money off this car and would not let you lease it and return it to them at negative equity for them.

Given the lack of dealer contribution and high interest rate, PCPs are highly in BMWs favour at the moment. Perhaps, it will change in the future :?:

There have been a few i3s for sale by dealers at practically zero discount even with 1k miles on them. My guess is that it will be hard to come across a used i3 for sale next year and one would be lucky to get 25% off.
 
The demo models will come probably on the market when they are 12 months old, say in about 3 months time and may distort the market a little adversely because they were all pre-production cars. So it may be a while before we see a realistic 12 month depreciation rate. Even then, it will be a very thin market.
 
Incidentally, I've just driven to Orkney and back, 1150 miles Mon-Fri and not added to my tally of i3s seen in the wild since my test drive in the first week of Jan - it is still a grand total of none.
 
Roger ..

We drove to fountains abbey near ripon last week and on the way back down the A1 we saw a Solar Orange I3 ..My girlfriend liked the colour so much we have changed our colour from ionic silver to Solar orange...and this Thursday driving to meadowhall shopping centre(Sheffield) we saw a white I3! ..


Rob
 
RJSATLBA said:
The demo models will come probably on the market when they are 12 months old, say in about 3 months time and may distort the market a little adversely because they were all pre-production cars. So it may be a while before we see a realistic 12 month depreciation rate. Even then, it will be a very thin market.

Are the dealers allowed to sell the cars? My dealer says that the cars normally go back to BMW and he has no idea how much they would go for....
 
Thanks for the replys.
Here is my actual quotation

£30145. Cash price
£5643. Deposit
£24501.52. Amount of credit
£5028.96. Interest charges
£29540.48 balance payable
£35183.96 total amount payable
7.3 % Apr

47 months @£400

Optional final rental £10,740

As I said £5000 interest .which seems a lot.

Wife's says if I really want the car and keep it for years then depreciation doesn't matter.

Also dealer says demo car will be for sale in nov when it's I year old but says head office will dictate it's selling price.

The dealer also has an i3 for immediate delivery due to a customer buy back.but they want £31000 .it will be interesting to see if this sells before nov.
 
Subevo said:
Here is my actual quotation
...
47 months @£400

Optional final rental £10,740

4 years of depreciation, that value is in line with other quotes. Confusion previously as you said that much after 1 year ;-)

We are reducing our overall interest paid by paying a higher initial payment.
 
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