7 series through BMW Contract Hire...amazing price

misterS3 · 10-06-2011, 10:50 AM

Quote:

Originally Posted by TikoV

Car will be put through business....so VAT will be reclaimable.

Need to set me up a business which can reclaim VAT!!

Nice one...look forward to seeing it up close

TikoV · 10-06-2011, 11:16 AM

Well 50% you can anyway....and don't forget I know of certain business where payment of rates is exempt <cough>

So another saving...

pjs · 10-06-2011, 11:54 AM

Similar great deals just been launched for 5Gt. I've got an appointment with my local dealer tomorrow!

TMP · 10-06-2011, 04:41 PM

Quote:

Originally Posted by TikoV

Well 50% you can anyway....and don't forget I know of certain business where payment of rates is exempt <cough>

So another saving...

But through the business you will need to pay company car tax ontop of PAYE?
(great deal still)

Quote:

Originally Posted by pjs

Similar great deals just been launched for 5Gt. I've got an appointment with my local dealer tomorrow!

Don't be picking me up in a 5Gt!

Oli · 10-06-2011, 05:11 PM

They ran this deal on the last 7 as well, in fact at one point it was as low as £399+, it is a stonking bit of kit for the money.

Well done that man

rogerxp · 10-06-2011, 05:14 PM

Quote:

Originally Posted by misterS3

Need to set me up a business which can reclaim VAT!!

Me too - soooooo damn annoying

.

rich1068 · 10-06-2011, 05:19 PM

Reclaiming VAT on motors is

SteveC · 10-07-2011, 01:43 AM

Where's the deposit? Usually these deals include a deposit to offset some of the risk. You can finance a 911 or R8 for a few hundred a month, assuming you put down £20K.
When the payments appear to be less than depreciation, I would normally look at the size of deposit required.

jimmylimmy · 10-07-2011, 02:14 AM

Quote:

Originally Posted by TikoV

Hi folks my exact payment works out at £466+VAT, 6 months deposit and it's a 24month term.

The car ordered is 730d m sport...

Quote:

Originally Posted by SteveC

Where's the deposit? Usually these deals include a deposit to offset some of the risk. You can finance a 911 or R8 for a few hundred a month, assuming you put down £20K.
When the payments appear to be less than depreciation, I would normally look at the size of deposit required.

£2796+vat deposit

pjs · 10-07-2011, 02:22 AM

Putting a contract hire deal through a business is not that simple. Assuming you run your business on the right lines and have the 'directors' flexibility, this is the rub.

If you take a £50k car with a 20% BIK, your P11D will have to reflect an £10k benefit. Even if you then contribute in full, paying say £600 month back to the company for the cost of the lease (12 x £600 = £7.2k) you will still pay tax on the difference, i.e. 40% of £2.8k.

Next problem is the mileage rate. Currently I get mine paid well above most (60p + 45p). Your lease car would still treated as a company car, so you have to refer to HMRC's advisory rates, which is 18p/mile ( or therebouts) for cars over 2000cc. You'll then be taxed on anything over this at the full rate.

I think the above only option works out if you a) bend the rules or b) get a very low emission car + modest list price + already have a low mileage remuneration.

The 5GT deal I'm looking at later today would therefore make sense to me to be personal. Its £3k down, £540/month, 20k per year for 2 years. All inc Vat. New car, delivered Dec, for a £50k motor.

creepy coupe · 10-07-2011, 02:22 AM

Quote:

Originally Posted by SteveC

Where's the deposit? Usually these deals include a deposit to offset some of the risk. You can finance a 911 or R8 for a few hundred a month, assuming you put down £20K.
When the payments appear to be less than depreciation, I would normally look at the size of deposit required.

Quote:

Hi folks my exact payment works out at £466+VAT, 6 months deposit and it's a 24month term.

prt71 · 10-07-2011, 02:26 AM

Quote:

Originally Posted by pjs

Putting a contract hire deal through a business is not that simple. Assuming you run your business on the right lines and have the 'directors' flexibility, this is the rub.

If you take a £50k car with a 20% BIK, your P11D will have to reflect an £10k benefit. Even if you then contribute in full, paying say £600 month back to the company for the cost of the lease (12 x £600 = £7.2k) you will still pay tax on the difference, i.e. 40% of £2.8k.

Next problem is the mileage rate. Currently I get mine paid well above most (60p + 45p). Your lease car would still treated as a company car, so you have to refer to HMRC's advisory rates, which is 18p/mile ( or therebouts) for cars over 2000cc. You'll then be taxed on anything over this at the full rate.

I think the above only option works out if you a) bend the rules or b) get a very low emission car + modest list price + already have a low mileage remuneration.

The 5GT deal I'm looking at later today would therefore make sense to me to be personal. Its £3k down, £540/month, 20k per year for 2 years. All inc Vat. New car, delivered Dec, for a £50k motor.

Who's the GT deal with if you don't mind me asking?

pjs · 10-07-2011, 02:27 AM

Quote:

Originally Posted by prt71

Who's the GT deal with if you don't mind me asking?

No problem. BMW dealer. Most of the lease companies I've spoke to over the last few weeks are full of shit.!

prt71 · 10-07-2011, 03:17 AM

Quote:

Originally Posted by pjs

No problem. BMW dealer. Most of the lease companies I've spoke to over the last few weeks are full of shit.!

Amen to that, absolutely sick of too good to be true £300 ish E class deals that don't exist.

creepy coupe · 10-07-2011, 03:33 AM

Quote:

Originally Posted by pjs

No problem. BMW dealer. Most of the lease companies I've spoke to over the last few weeks are full of shit.!

Yep. I wasted too much of my life trawling the so called offers from wanker lease site. Ended up at a BM dealer.

M3-FAST · 10-07-2011, 04:43 AM

I think a lot of caution is needed on the lease comparison web sites.

If the deal is offered by a franchised main dealer, then they are normally legit but the multi-deal offers punted out by bored brokers trying to get their phone to ring are pretty crap and usually non existant.

I have in the past had some great offer on leasing - new shape C5 2.0 HDi VTR was £179+vat 3+23 - the current Passat CC GT 2.0HDI we have is 239+vat 3+23

However, the M3 was leased directly with BMW and that was by far the best deal.

My mate is a business manager at BMW and he has mentioned lately the stonking deals on 7 series and 5 GT's - they are both poor sellers in the UK for BMW but the units still have to be shifted. BMW UK still have target number of vehicles to sell so most 7's will be sold at a loss by dealers who HAVE to have one on their stock list x times per year.

I bet they thought all their dream had come true when Tikov ordered one and they shifted one to his mate at the same time

They are very nice cars to drive though - tried a 730D M-sport earlier this year - had just about everything you need as standard kit but felt too big for me.

Sir_Pigley · 10-07-2011, 05:29 AM

Quote:

Originally Posted by pjs

Even if you then contribute in full, paying say £600 month back to the company for the cost of the lease (12 x £600 = £7.2k) you will still pay tax on the difference, i.e. 40% of £2.8k.

Next problem is the mileage rate. Currently I get mine paid well above most (60p + 45p). Your lease car would still treated as a company car, so you have to refer to HMRC's advisory rates, which is 18p/mile ( or therebouts) for cars over 2000cc. You'll then be taxed on anything over this at the full rate.

Now that's what I did not realise. Even if the employee paid the FULL cost of the contract hire they could still face a tax liability if the total annual cost of the contract hire is less than the BIK figure for the car chosen. That is MAD MAD MAD

pjs · 10-07-2011, 11:30 AM

Test drive in 5GT next week. Looking at ordering an M Sport which looks the dogs.

MickyD'bo · 10-07-2011, 02:29 PM

Quote:

Originally Posted by M3-FAST

However, the M3 was leased directly with BMW and that was by far the best deal.

Do share the details of your M3 deal my friend...please!

M3-FAST · 10-07-2011, 02:57 PM

Quote:

Originally Posted by dobbo9

Do share the details of your M3 deal my friend...please!

I meant a better deal than what the brokers were offering at the time.

The M3 is on a 3+35 deal - £700 per month inc VAT - price also includes 3 years road tax.

That was on a factory ordered car with quite a lot of extras! 19" alloys, carbon leather dash trim, Logic 7 sound, sun prot glass, DCT gearbox, USB, Bluetooth inc telematics, high gloss shadowline, heated front seats.

The brokers were offering a similar deal but for a bog standard car with just the alloy upgrade and EDC.

peterg1965 · 10-07-2011, 04:42 PM

Not sure if this is one of the bullshit broker deals but it does sounds too good to be true. Audi A7 3.0TDI S Line multitronic for £369+VAT 6+23 8000 miles pa

http://www.stablevehiclecontracts.co...FcMOfAodahLmRA

Are all these deals available as personal deals, with VAT added of course?

M3-FAST · 10-08-2011, 04:46 AM

Quote:

Originally Posted by peterg1965

Not sure if this is one of the bullshit broker deals but it does sounds too good to be true. Audi A7 3.0TDI S Line multitronic for £369+VAT 6+23 8000 miles pa

http://www.stablevehiclecontracts.co...FcMOfAodahLmRA

Are all these deals available as personal deals, with VAT added of course?

seems cheap but if they are physical stock cars then highly likely to be available.

Some will specify business only, but lots can be put through as personal deals with vat added on. Failing that, do you know anyone with a business who can put the application in for you? Once the first direct debit has been taken, call them up and get the bank debit details swapped to your account.

10-06-2011, 11:16 AM	#24
TikoV Captain 30 Rep 664 Posts Drives: BMW 335d/X5 40d Join Date: Aug 2009 Location: Glasgow iTrader: (0)	Well 50% you can anyway....and don't forget I know of certain business where payment of rates is exempt <cough> So another saving... __________________
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10-06-2011, 11:54 AM	#25
pjs Colonel 274 Rep 2,774 Posts Drives: i8 Join Date: Oct 2008 Location: NORTH iTrader: (1)	Similar great deals just been launched for 5Gt. I've got an appointment with my local dealer tomorrow!
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10-06-2011, 05:11 PM	#27
Oli Campervan man 94 Rep 2,667 Posts Drives: RS3 and VW Kombi Join Date: Mar 2007 Location: here, there, everywhere...... iTrader: (1)	They ran this deal on the last 7 as well, in fact at one point it was as low as £399+, it is a stonking bit of kit for the money. Well done that man __________________ www.bmvs-camperhire.co.uk Genuine VW T5 California Rental
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10-06-2011, 05:19 PM	#29
rich1068 has left the building 90 Rep 3,359 Posts Drives: F30 330d M Sport Join Date: Oct 2010 Location: UK iTrader: (0)	Reclaiming VAT on motors is
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10-07-2011, 01:43 AM	#30
SteveC Major 220 Rep 1,231 Posts Drives: M5 Join Date: Jan 2009 Location: North East iTrader: (1)	Errrr Where's the deposit? Usually these deals include a deposit to offset some of the risk. You can finance a 911 or R8 for a few hundred a month, assuming you put down £20K. When the payments appear to be less than depreciation, I would normally look at the size of deposit required.
	Appreciate 0 Quote

10-07-2011, 02:22 AM	#32
pjs Colonel 274 Rep 2,774 Posts Drives: i8 Join Date: Oct 2008 Location: NORTH iTrader: (1)	Putting a contract hire deal through a business is not that simple. Assuming you run your business on the right lines and have the 'directors' flexibility, this is the rub. If you take a £50k car with a 20% BIK, your P11D will have to reflect an £10k benefit. Even if you then contribute in full, paying say £600 month back to the company for the cost of the lease (12 x £600 = £7.2k) you will still pay tax on the difference, i.e. 40% of £2.8k. Next problem is the mileage rate. Currently I get mine paid well above most (60p + 45p). Your lease car would still treated as a company car, so you have to refer to HMRC's advisory rates, which is 18p/mile ( or therebouts) for cars over 2000cc. You'll then be taxed on anything over this at the full rate. I think the above only option works out if you a) bend the rules or b) get a very low emission car + modest list price + already have a low mileage remuneration. The 5GT deal I'm looking at later today would therefore make sense to me to be personal. Its £3k down, £540/month, 20k per year for 2 years. All inc Vat. New car, delivered Dec, for a £50k motor.
	Appreciate 0 Quote

10-07-2011, 04:43 AM	#38
M3-FAST Defected to the dark side..... 210 Rep 5,795 Posts Drives: BMW M5 LCi Join Date: May 2007 Location: Stafford, UK iTrader: (11) Garage List 2009 E90 M3 [10.00] 2007 325i M-sport C ... [9.00]	I think a lot of caution is needed on the lease comparison web sites. If the deal is offered by a franchised main dealer, then they are normally legit but the multi-deal offers punted out by bored brokers trying to get their phone to ring are pretty crap and usually non existant. I have in the past had some great offer on leasing - new shape C5 2.0 HDi VTR was £179+vat 3+23 - the current Passat CC GT 2.0HDI we have is 239+vat 3+23 However, the M3 was leased directly with BMW and that was by far the best deal. My mate is a business manager at BMW and he has mentioned lately the stonking deals on 7 series and 5 GT's - they are both poor sellers in the UK for BMW but the units still have to be shifted. BMW UK still have target number of vehicles to sell so most 7's will be sold at a loss by dealers who HAVE to have one on their stock list x times per year. I bet they thought all their dream had come true when Tikov ordered one and they shifted one to his mate at the same time They are very nice cars to drive though - tried a 730D M-sport earlier this year - had just about everything you need as standard kit but felt too big for me.
	Appreciate 0 Quote

10-07-2011, 11:30 AM	#40
pjs Colonel 274 Rep 2,774 Posts Drives: i8 Join Date: Oct 2008 Location: NORTH iTrader: (1)	Test drive in 5GT next week. Looking at ordering an M Sport which looks the dogs.
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10-07-2011, 04:42 PM	#43
peterg1965 Brigadier General 164 Rep 4,190 Posts Drives: F30 335d M Sport, F15 X5 40d Join Date: May 2007 Location: The place of dark satanic mills, UK iTrader: (0)	Not sure if this is one of the bullshit broker deals but it does sounds too good to be true. Audi A7 3.0TDI S Line multitronic for £369+VAT 6+23 8000 miles pa http://www.stablevehiclecontracts.co...FcMOfAodahLmRA Are all these deals available as personal deals, with VAT added of course?
	Appreciate 0 Quote