Will you keep yours at the end of your PCP Deal?

[Maniac]

So, that Orange 18i thread made me wonder how many people will keep their e89's after the PCP deal ends?

I wonder because there's a lot of opinion about these 18i/20i/20i models whether that is fleeting due to emotion or whether its because they're considering the cars for keepers?

So who's keeping theirs after the give-back/trade point?

 

[Sketchley]

The only reason for me to go PCP is the high dealer deposit. If I go this route I'll probably settle the PCP very early. Depends on the small print. I'm planning on the car being a keeper. However, who knows how I'll feel in 3 years times when the warranty runs out....

 

[TitanTim]

Mines over 4 years but the dealer said they would contact me at 3 years to see if I wanted to change so I may do that depending on what deal they can do me on a 135iM.

Tim.

 

[ewwimbledon]

Will depend on personal circumstances at the time

 

[Dave-2912]

I will definitely trade-in for something new at the end of my 3 year PCP scheme.

I have one car to cover all of my motoring needs, so personally I like to have a new, warrantied, reliable car which will be fixed if anything ever goes wrong.

I would only keep my 20i beyond the initial warranty period if I have another car as my daily driver by then. Even then, if my Z was only going to be a fair-weather car I would probably trade-in for something slightly older and more focused.

 

[Maniac]

I always find it interesting that so many people are willing to continue to pay out on a car they never own. I prefer to pay my cars off, and have as much use from them for as many years as possible, as opposed to continually paying out as you may on PCP. If you ever lost your income, you would be without a car for instance, unless you had cash reserves to pay the car off.

 

[lux]

The final payment was £13k on my first E89, I had the money in the bank to pay in full, but with the deals on finance at the moment I would have to be stupid to use my cash to buy a 3 year old car.
I got a new car, better spec (ok,ok so it's the 2.0i oke: ) for £75 a month less than i was paying on my old one and NO DEPOSIT!!
Mine is a bit different to private purchase as I buy it through my company.....so new car every 3 years.

 

[ewwimbledon]

PCP is a luxury it's true. We pay £400 a month and really only use the car at the weekends so £50 a day!!!!
You have to waste your money on something.

 

[Taz]

mine is an E86 but i intend to keep it after, mine was on a 4 year pcp

 

[Nezzy33]

It will all depend on what mine's worth in 4 years TBH. I do very little mileage (about 4k a year) so in 4 years, it's going to be well under 20k miles. Depending on how reliable it is, I may consider re-financing to pay off the balance and keep up the warranty. This will all depend on whether it's worth more than the £10500 or so which BMW think it'll be worth by then.

It's a 28i (which there don't appear to be many of) and I would expect residuals, given my mileage, to be quite good.

Also depends on whether "recession" white is still on trend then though as well!! :rofl:

 

[buzyg]

Silly question, what's PCP? :?

 

[TitanTim]

Balloon payment on mine is 12K at the end of the PCP, just makes sense to swap it for a new motor and taking out a new PCP than paying 12K for a 4 year old car.

Tim.

 

[mr wilks]

Silly question, what's PCP? :?

Abbreviated way of saying you agree to borrow a car that you couldn't afford to buy until such time you can afford it which usually means 6/7 or 8 years by which time the car is worth some 25% of its original value if you're lucky & you no longer want it cause its old :| so you start a new plan , & on & on
They should be called FGCP :?
























Fools Gold Car Plan

 

[TitanTim]

Silly question, what's PCP? :?

Abbreviated way of saying you agree to borrow a car that you couldn't afford to buy until such time you can afford it which usually means 6/7 or 8 years by which time the car is worth some 25% of its original value if you're lucky & you no longer want it cause its old :| so you start a new plan , & on & on
They should be called FGCP :?
























Fools Gold Car Plan

Or another way to look at is, you get a brand new motor every 3 years or so for fairly low monthly payments and APR, which if you buy shrewdly you bag a large chunk on money contributed by your friendly dealer, i.e. 8K which brings the payments down even further. This allows you to waste your money on other things beer, holidays etc or like I did used the 15K I could have put towards the Zed and stuck it in Cash ISA accounts. PCPs or BMWs Select gives you more freedom as to what you want to do at the end of the term, i.e. trade in, buy it or give the car back and walking away.

Tim.

 

[Zed Five]

So you're getting more interest on an isa than you're paying on your car?!?

Wow!

 

[mr wilks]

I know how it works Tim but in reality after the PCP finishes you are faced with the prospect of buying a car you have already owned 8)
or for a similar monthly payment taking another brand new one . . . . . which is why i don't know anyone who has actually "bought" the car at the end of the deal
Call them what you like but in reality you are borrowing a car with a downpayment + a monthly charge for the priveledge :wink:
Wouldnn't work for me because when i wash & wax my car i want it to be mine , not Bmw's :roll:

 

[TitanTim]

I know how it works Tim but in reality after the PCP finishes you are faced with the prospect of buying a car you have already owned 8)
or for a similar monthly payment taking another brand new one . . . . . which is why i don't know anyone who has actually "bought" the car at the end of the deal
Call them what you like but in reality you are borrowing a car with a downpayment + a monthly charge for the priveledge :wink:
Wouldnn't work for me because when i wash & wax my car i want it to be mine , not Bmw's :roll:

But if you look at it like that you will never own a new vehicle unless you pay the full amount upfront for which why would you do that? I always thought the same as yourself, used to get the expensive bankloans to pay for the car so it was actually mine, but its an old fashioned way to do it now especially when dealers offer decent ways of paying for a new car. Unless I go into financial woes I prefer to swap my motors every three to four years than hang onto them. With the exception of the Z3 which owes me nothing and I can polish to my hearts content

Tim.

 

[mr wilks]

That's exactly it Tim , the Z3 is owned & whatever you do to it is for yourself , if i had a car on PCP i would barely have the interest to wash it let alone wax it . maybe that's why i see so many Audi's,Merc's & BM's at the weekend going through the roller washes :evil:

 

[TitanTim]

That's exactly it Tim , the Z3 is owned & whatever you do to it is for yourself , if i had a car on PCP i would barely have the interest to wash it let alone wax it . maybe that's why i see so many Audi's,Merc's & BM's at the weekend going through the roller washes :evil:

Oh I still wash the Z4 weekly and wax and caress it I'm just a helpless washer

Tim.

 

[Taz]

i would never do a pcp again