[M3 Personal Lease]

BoBBoB · 07-04-2012, 12:31 PM

I thought i'd post here as the UK M3 Forum is pretty quiet, there are some cracking deals available for the M3 Coupe.

I've been quoted £507 per month including VAT for 6+29 at 8k per year, its a DCT M3 Coupe, 19" wheels, factory order with heated seats and the Media Pack, it can be available for Sept the 1st, excess mileage is 18.9p/mile.

I understand the risk with taking a lease in the fact that to get out of it, I would have to pay all the rentals, plus insurance is slightly more expensive as its not my car.

The deal seems almost too good to be true, have I missed something obvious ?

Thanks

BoBBoB

225_AB · 07-04-2012, 02:53 PM

Sounds like a good deal? Not sure the insurance really changes as my 640 is on contract hire and insurance seems reasonable.

225_AB · 07-04-2012, 02:54 PM

Was it from a dealer or broker?

BoBBoB · 07-04-2012, 03:19 PM

Quote:

Originally Posted by doc_ab

Sounds like a good deal? Not sure the insurance really changes as my 640 is on contract hire and insurance seems reasonable.

In my experience insurance for contract hire seems a little higher (not loads though to be fair)

Quote:

Originally Posted by doc_ab

Was it from a dealer or broker?

Deal is from a broker, once accepted you then deal with the dealer direct.

I really can't think of a good reason not to do this :-) apart from <20mpg, the M3 has been on my list of dream cars for a long time, sometimes life is simply too short ....

RCUK · 07-04-2012, 06:01 PM

Actualy think your wrong... after 18 months you can hand the car back and cancel the lease

BoBBoB · 07-04-2012, 06:21 PM

Quote:

Originally Posted by RCUK

Actualy think your wrong... after 18 months you can hand the car back and cancel the lease

Tell me more, I thought that was for PCP deals, not contract hire / personal lease ? Would be good to know though ..

creepy coupe · 07-05-2012, 02:02 AM

Find out if that price includes three years worth of road tax and the running in service, which is circa £400 on a DCT model. Although I doubt the latter will be included as it comes from a broker.

I threw a quote from a broker at my local dealer and they matched it.

Are you sure it includes vat?

BoBBoB · 07-05-2012, 02:36 AM

Quote:

Originally Posted by creepy coupe

Find out if that price includes three years worth of road tax and the running in service, which is circa £400 on a DCT model. Although I doubt the latter will be included as it comes from a broker.

I threw a quote from a broker at my local dealer and they matched it.

Are you sure it includes vat?

I'll ask about the road tax, I assumed it was included, should be about £400 a year ? The running in service might be a point of negotiation.

It definitely includes VAT as the Business quote is even lower £420ish per month ..

rich1068 · 07-05-2012, 02:41 AM

Don't assume about road tax with brokers and those firms on eg contracthireandleasing.com

Also, in my experience of finishing business contract hire early it's always been half the outstanding payments to get out of it.

M3-FAST · 07-05-2012, 07:00 AM

Thats a mega deal - mine cost me £700 inc vat on a 6+35 deal albeit a few years ago now.

Road tax was included for the duration (which amounts to over £1200 over 3 years) and also the first (1200 mile) service was also paid for too.

I managed to hand mine back to BMW 4 months early with only a small penalty for the car being 1000 miles over mileage pro rata - 11p +vat per mile was charged and that was it!

If you can live with the mpg go for it! Real world economy if you dont do many long runs is about 15/16 mpg. Mine would do 180-200 miles per tank but I have a heavy right foot.

I don't want to open a 'spec debate' but wouldnt consider one without 19" wheels, hifi upgrade and DCT box at the very minmum. All have the full pro nav and heated nappa. They seem to look a lot nicer with sun prot glass as well but if you start adding options it will no longer be a cheap car.

Sounds like BMW are trying to compete with the C63AMG deals that Merc have been throwing around.

Go for it!!!

BoBBoB · 07-05-2012, 07:29 AM

Quote:

Originally Posted by M3-FAST

Thats a mega deal - mine cost me £700 inc vat on a 6+35 deal albeit a few years ago now.

Road tax was included for the duration (which amounts to over £1200 over 3 years) and also the first (1200 mile) service was also paid for too.

I managed to hand mine back to BMW 4 months early with only a small penalty for the car being 1000 miles over mileage pro rata - 11p +vat per mile was charged and that was it!

If you can live with the mpg go for it! Real world economy if you dont do many long runs is about 15/16 mpg. Mine would do 180-200 miles per tank but I have a heavy right foot.

I don't want to open a 'spec debate' but wouldnt consider one without 19" wheels, hifi upgrade and DCT box at the very minmum. All have the full pro nav and heated nappa. They seem to look a lot nicer with sun prot glass as well but if you start adding options it will no longer be a cheap car.

Sounds like BMW are trying to compete with the C63AMG deals that Merc have been throwing around.

Go for it!!!

Thanks, this is my dilemma, it sounds almost too good to be true ... the specification comes with 19"wheels and DCT, never really been too bothered about music in the car, it does have a v8 after-all ...

I'll let you know, also the deal is only on the Coupe, I wish it was on the Saloon :-(

BoBBoB

xenon · 07-05-2012, 07:32 AM

Quote:

Originally Posted by RCUK

Actualy think your wrong... after 18 months you can hand the car back and cancel the lease

Definitely not - it's a contract, end of.

BoBBoB · 07-05-2012, 07:40 AM

Quote:

Originally Posted by xenon

Definitely not - it's a contract, end of.

However, it does look like there is usually some negotiation, worst case its often written in the contract that you can terminate if you pay 50% of the rentals ...

creepy coupe · 07-05-2012, 07:56 AM

If you end early, the amount you own will depend on mileage and how long you have left. I asked for a settlement on mine last month and was told £4k. If I were to see the deal to the end I'd pay another £9k

xenon · 07-05-2012, 08:01 AM

Quote:

Originally Posted by BoBBoB

However, it does look like there is usually some negotiation, worst case its often written in the contract that you can terminate if you pay 50% of the rentals ...

Yes, what I meant was (as it's a fixed-term contract) you can get out early but usually the penalties are so punitive it's not worthwhile.

It's completely unlike HP where you can legally VT the agreement after 50% has been paid back.

M3-FAST · 07-05-2012, 08:15 AM

Not 100% correct Xenon

As i said before, I handed back my M3 to BMW over four months early and all I paid was just a little over £100 to cover over mileage.

Another four payments would have cost me £2800 - so 50% of that means they should have demanded £1400.

M3-FAST · 07-05-2012, 08:17 AM

Another cracking lease deal here on Audi S5 S-tronic (DSG) Quattro Black edition.....

http://carleasingmadesimple.com/busi...m_source=email

Just had it emailed over at £355+vat per month (£426 all in) inc 7 factory fit options

BoBBoB · 07-05-2012, 08:31 AM

Quote:

Originally Posted by M3-FAST

Another cracking lease deal here on Audi S5 S-tronic (DSG) Quattro Black edition.....

http://carleasingmadesimple.com/busi...m_source=email

Just had it emailed over at £355+vat per month (£426 all in) inc 7 factory fit options

Factory fit options are :

Mobile telephone preparation - bluetooth interface
Rear acoustic parking system
Audi music interface
Concert radio/single CD player with MP3 facility
3 spoke flat bottom multi-function leather steering wheel including paddle shift
Front/rear floor mats
19" 5 arm rotor alloy wheels with titanium look finish

creepy coupe · 07-05-2012, 08:32 AM

^^ Cracking deal Gromit, but it's for business leasing.

BoBBoB · 07-05-2012, 08:42 AM

Quote:

Originally Posted by creepy coupe

^^ Cracking deal Gromit, but it's for business leasing.

To get a personal price don't you just add VAT ?

M3-FAST · 07-05-2012, 08:44 AM

a lot say business only but can be obtained on a personal lease as bobbob says, adding the vat on.

My sis had a Honda Civic Type S last year that said 'stricly business only' but she still managed to get in on the deal.

BoBBoB · 07-05-2012, 08:49 AM

Looks a great deal, only thing missing is Sat-Nav, which it looks like it adds another £50 per month. Doing quick maths I now have the choice of similar spec'd cars, Audi S5 or £50 more a month for an M3 ...

M3 has to win ? Or do I go with the lower spec S5 and save some money each month ?

aaarrgghh ...

07-04-2012, 12:31 PM	#1
BoBBoB Second Lieutenant 17 Rep 282 Posts Drives: Clio 200 Full Fat Join Date: Jul 2007 Location: Oxfordshire iTrader: (0)	[M3 Personal Lease] I thought i'd post here as the UK M3 Forum is pretty quiet, there are some cracking deals available for the M3 Coupe. I've been quoted £507 per month including VAT for 6+29 at 8k per year, its a DCT M3 Coupe, 19" wheels, factory order with heated seats and the Media Pack, it can be available for Sept the 1st, excess mileage is 18.9p/mile. I understand the risk with taking a lease in the fact that to get out of it, I would have to pay all the rentals, plus insurance is slightly more expensive as its not my car. The deal seems almost too good to be true, have I missed something obvious ? Thanks BoBBoB
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07-04-2012, 02:53 PM	#2
225_AB Major 65 Rep 1,377 Posts Drives: M235i Join Date: May 2010 Location: buckinghamshire iTrader: (1) Garage List 2014 M235i [0.00] 2009 BMW 330D [0.00]	Sounds like a good deal? Not sure the insurance really changes as my 640 is on contract hire and insurance seems reasonable.
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07-04-2012, 02:54 PM	#3
225_AB Major 65 Rep 1,377 Posts Drives: M235i Join Date: May 2010 Location: buckinghamshire iTrader: (1) Garage List 2014 M235i [0.00] 2009 BMW 330D [0.00]	Was it from a dealer or broker?
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07-04-2012, 06:01 PM	#5
RCUK Lieutenant Colonel 100 Rep 1,672 Posts Drives: 911 Turbo Join Date: Dec 2008 Location: Orpington, Kent iTrader: (4)	Actualy think your wrong... after 18 months you can hand the car back and cancel the lease __________________ Been there, done that, driven the 'Ring
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07-05-2012, 02:02 AM	#7
creepy coupe Lieutenant General 1867 Rep 13,043 Posts Drives: BMW M340I G20 Join Date: Aug 2007 Location: UK iTrader: (2) Garage List 2015 BMW 435d [0.00] 2009 335i [0.00]	Find out if that price includes three years worth of road tax and the running in service, which is circa £400 on a DCT model. Although I doubt the latter will be included as it comes from a broker. I threw a quote from a broker at my local dealer and they matched it. Are you sure it includes vat?
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07-05-2012, 02:41 AM	#9
rich1068 has left the building 90 Rep 3,359 Posts Drives: F30 330d M Sport Join Date: Oct 2010 Location: UK iTrader: (0)	Don't assume about road tax with brokers and those firms on eg contracthireandleasing.com Also, in my experience of finishing business contract hire early it's always been half the outstanding payments to get out of it.
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07-05-2012, 07:00 AM	#10
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]	Thats a mega deal - mine cost me £700 inc vat on a 6+35 deal albeit a few years ago now. Road tax was included for the duration (which amounts to over £1200 over 3 years) and also the first (1200 mile) service was also paid for too. I managed to hand mine back to BMW 4 months early with only a small penalty for the car being 1000 miles over mileage pro rata - 11p +vat per mile was charged and that was it! If you can live with the mpg go for it! Real world economy if you dont do many long runs is about 15/16 mpg. Mine would do 180-200 miles per tank but I have a heavy right foot. I don't want to open a 'spec debate' but wouldnt consider one without 19" wheels, hifi upgrade and DCT box at the very minmum. All have the full pro nav and heated nappa. They seem to look a lot nicer with sun prot glass as well but if you start adding options it will no longer be a cheap car. Sounds like BMW are trying to compete with the C63AMG deals that Merc have been throwing around. Go for it!!!
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07-05-2012, 07:56 AM	#14
creepy coupe Lieutenant General 1867 Rep 13,043 Posts Drives: BMW M340I G20 Join Date: Aug 2007 Location: UK iTrader: (2) Garage List 2015 BMW 435d [0.00] 2009 335i [0.00]	If you end early, the amount you own will depend on mileage and how long you have left. I asked for a settlement on mine last month and was told £4k. If I were to see the deal to the end I'd pay another £9k
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07-05-2012, 08:15 AM	#16
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]	Not 100% correct Xenon As i said before, I handed back my M3 to BMW over four months early and all I paid was just a little over £100 to cover over mileage. Another four payments would have cost me £2800 - so 50% of that means they should have demanded £1400.
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07-05-2012, 08:17 AM	#17
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]	Another cracking lease deal here on Audi S5 S-tronic (DSG) Quattro Black edition..... http://carleasingmadesimple.com/busi...m_source=email Just had it emailed over at £355+vat per month (£426 all in) inc 7 factory fit options Attached Images
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07-05-2012, 08:32 AM	#19
creepy coupe Lieutenant General 1867 Rep 13,043 Posts Drives: BMW M340I G20 Join Date: Aug 2007 Location: UK iTrader: (2) Garage List 2015 BMW 435d [0.00] 2009 335i [0.00]	^^ Cracking deal Gromit, but it's for business leasing.
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07-05-2012, 08:44 AM	#21
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]	a lot say business only but can be obtained on a personal lease as bobbob says, adding the vat on. My sis had a Honda Civic Type S last year that said 'stricly business only' but she still managed to get in on the deal.
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07-05-2012, 08:49 AM	#22
BoBBoB Second Lieutenant 17 Rep 282 Posts Drives: Clio 200 Full Fat Join Date: Jul 2007 Location: Oxfordshire iTrader: (0)	Looks a great deal, only thing missing is Sat-Nav, which it looks like it adds another £50 per month. Doing quick maths I now have the choice of similar spec'd cars, Audi S5 or £50 more a month for an M3 ... M3 has to win ? Or do I go with the lower spec S5 and save some money each month ? aaarrgghh ...
	Appreciate 0 Quote