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      07-11-2013, 02:47 AM   #23
davyk31
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Getting that deal from a main dealer makes it even better!

Is M3 FST's a pre facelift or the updated model, I assume its pre facelift hence the lower price.
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      07-11-2013, 07:39 AM   #24
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Very tempting to go for the M3 deal.

What's the best way to do it, privately or put it through my wife's company?

I tried the HMRC website but that comes back as 8K p.a. in tax if it's a company car. There must be another way of using money in the company to pay for the deal, any ideas?
Thanks
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      07-12-2013, 04:49 AM   #25
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Quote:
Originally Posted by Boz335i View Post
Very tempting to go for the M3 deal.

What's the best way to do it, privately or put it through my wife's company?

I tried the HMRC website but that comes back as 8K p.a. in tax if it's a company car. There must be another way of using money in the company to pay for the deal, any ideas?
Thanks
There is no point in sticking a car like an M3 on the company books as you will get hit massively on car tax as you've found out. The only benefit would be that you could claim some of the VAT back but the money you get back from that is nowhere near enough to justify paying the huge car tax figure you'll end up with. So if you want to put a car on the company books either by something else which doesn't get you crucified by the taxman e.g. a Prius or just lease it personally.

You can often get the exact same lease deals on a personal lease as a business lease. The difference in figures that you see between the two is usually due to the lease companies being cheaky and removing the vat figure from the business lease deals when in reality they will both end up being the same.
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      07-12-2013, 05:05 AM   #26
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Quote:
Originally Posted by davyk31 View Post
Getting that deal from a main dealer makes it even better!

Is M3 FST's a pre facelift or the updated model, I assume its pre facelift hence the lower price.
Makes no difference who the lease is with, the car will always be supplied via a franchised dealer or direct from BMW UK.

Facelift? The deals are on new build cars, so they will be the latest model of course.

Last month (june) was awash with fantastic run out M3 deals, I was tempted by some for 349+VAT per month, but only convertibles were left and we needed more room.

So we got an E63 AMG Estate instead...... 471+VAT/m


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Originally Posted by Boz335i View Post
Very tempting to go for the M3 deal.

What's the best way to do it, privately or put it through my wife's company?
There is no way to go company on a high BIK car like this, you just have to pay it yourself. Take more dividends from the company to cover it or whatever.

We just upped our dividends to pay for the new E63.

If your wife already draws up to the tax free limit then she'll have to pay an effective rate of 22.5% income tax on the extra dividend, but that's still better than most pays on their wages anyway, and no National Insurance to pay either on dividends.

If the company pays for it, then it's a company car and you'll be shafted big time.
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Last edited by doughboy; 07-12-2013 at 05:14 AM.
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      07-12-2013, 05:24 AM   #27
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Originally Posted by Vaheed1 View Post
I'm not sure how the extra allowance of miles works. If BMW want the car back with 8k in the clock, then doesn't that mean they have a set value of the car to offer back to the AUC market? Doing an extra 2,000 miles might make a bigger impact to the depreciation than just 400? There might be more severe penalties for breaking the contract?
Excess mileage is not 'breaking the contract' its a flexible feature of the contract.

Check the stated excess mileage rates, its often cheaper to get a lower mileage lease and pay excess mileage.

Our E63 is on 10Kpa, but the XS mileage is only 9p/m, so even if we did 15kpa (10k extra over the 2 years) it would only cost 900+vat extra.

Thats 45 / month, but if you put 15kpa in the lease-deal calculator it goes up over 100 / month!!


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Originally Posted by jimmylimmy View Post
8000 is way too low - if you use it Mon - Fri, you better work less than 15 miles from home!

I imagine the penalties for going 6-7k over would be huge
Agree, it needs to suit your situation, Paul M3 FST does live about 2 miles from work (round trip), I have a van for work, so that keeps my car miles down.

Not so the 'penalties', as above only 1k if we busted the mileage by 50% and did an exta 10,000miles on our new E63, which lists at 75K basic

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Originally Posted by davyk31 View Post
Not being an expert on an M5 are there any extras that need added or is it already well specced.

Still about 17500 for 2 years motoring but strangely tempting.
The M5 is poorly specced TBH. I figured a lease deal on one and it doesn't even come with heated seats or comfort access FFS! Any options are charged for 100% on the lease, so its very pricey to add them.

The E63 has everything standard, full nappa leather, stitched leather dash, 14-speaker logic 7 harmon kardon, keyless go, full auto parking, power boot, full LED headlamps, variable dampers blah blah.

I just added black wheels with diamond cut rim and privacy glass.
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Last edited by doughboy; 07-12-2013 at 05:32 AM.
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      07-12-2013, 05:40 AM   #28
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Quote:
Originally Posted by doughboy View Post
Last month (june) was awash with fantastic run out M3 deals, I was tempted by some for 349+VAT per month, but only convertibles were left and we needed more room.

So we got an E63 AMG Estate instead...... 471+VAT/m
Hi,

Which company do you use? I would be interested to see what they have on offer.
I've not done this before, so have no idea where to begin. I've googled it but can't find anything decent. Also, is it worth contacting the dealer direct?

Thanks.
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      07-12-2013, 06:12 AM   #29
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Quote:
Originally Posted by davyk31 View Post
Is M3 FST's a pre facelift or the updated model, I assume its pre facelift hence the lower price.
It's the facelift model. There were a few old stock knocking around a touch cheaper; not sure they still are.

As Mike says above, the cars come from main dealers anyway, so doesn't make a huge amount of difference. Paul just happened to have a contact he preferred to use if possible.

There are quirks, as I've mentioned, regarding the options (which I didn't know until recently). Usually a normal lease you essentially fund any extras yourself (the cost of the extra usually with discount divided by the no. of months of the lease) but the main dealer finance does work slightly different but only on certain options. For example, the 20" alloys Paul has specced, ended up cheaper via the main dealer as BMW Finance appreciate these are appealing spec to help a future sale so increase the future guaranteed fund value so ends up a bit cheaper.

Must admit, I just presumed an M5 was specced up the eyeballs, will have a check now.
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      07-12-2013, 08:38 AM   #30
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These deals are so tempting, think I'm going to have to lease my next car!

I like the look of the E63 deal, looking forward to seeing some pictures when people do finally get them!
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