Newbie Help Needed Pls

[unstoppable6t2]

Hi everyone,

I'm am totally new to this forum. I have been a driver of a 2003 BMW 320ci convertible (e46) for the last 6 years and have recently sold it in order to upgrade. The 2.2 didn't have a lot of power so I want something more punchy this time and am considering the 640d GC from new on lease.

I have a few questions:

1. I'll be getting this on a business lease, what sort of pricing should I expect (UK) for 10k miles a year? I'm totally new to dealing with the dealerships and these kind of pricing structures and find this whole process quite daunting. Any tips on how to get a best deal?
2. How's is the sound quality of the factory fitted sound compared with the Harman Kardan upgrade? I have used the Harman Kardan in my brother's 530d so if it's there abouts then I'll be happy with it and don't have to fork out on the Harman Kardan upgrade.
3. Am I correct that there's a face lift model of the GC and the vert due next year? Is this a bad time to buy? Worth waiting for the new one? I know this is a bit subjective so I'm looking for opinions

I really love the 6 series GC due to it's amazing looks and the added practicality of 4 doors - the other option I have in mind in the Mercedes E350 convertible, but I've never owned a merc before so that's uncharted territory for me. Eventually the decision might come down to price if there's a massive different.

Sorry for the somewhat polarised questions.

Thanks in advance for help.

[Downfourit]

Originally Posted by unstoppable6t2

Hi everyone,

I'm am totally new to this forum. I have been a driver of a 2003 BMW 320ci convertible (e46) for the last 6 years and have recently sold it in order to upgrade. The 2.2 didn't have a lot of power so I want something more punchy this time and am considering the 640d GC from new on lease.

I have a few questions:

1. I'll be getting this on a business lease, what sort of pricing should I expect (UK) for 10k miles a year? I'm totally new to dealing with the dealerships and these kind of pricing structures and find this whole process quite daunting. Any tips on how to get a best deal?
2. How's is the sound quality of the factory fitted sound compared with the Harman Kardan upgrade? I have used the Harman Kardan in my brother's 530d so if it's there abouts then I'll be happy with it and don't have to fork out on the Harman Kardan upgrade.
3. Am I correct that there's a face lift model of the GC and the vert due next year? Is this a bad time to buy? Worth waiting for the new one? I know this is a bit subjective so I'm looking for opinions

I really love the 6 series GC due to it's amazing looks and the added practicality of 4 doors - the other option I have in mind in the Mercedes E350 convertible, but I've never owned a merc before so that's uncharted territory for me. Eventually the decision might come down to price if there's a massive different.

Sorry for the somewhat polarised questions.

Thanks in advance for help.

It's never a bad time to lease, you're not stuck with the car so in 36 months or less it's gone and you're in a new one. Welcome to the beauty of leasing!

Get the upgraded sound, you will regret not doing it if you don't.

Pricing all depends on the dealer and your negotiating skills.

[RPB1]

You will love the GC fantastic car I am on my second 6 series lease moving from convertible to GC loved both!! Some great lease deals out there I got my fully loaded GC for the lease price of a 4

[boyhamdzui]

Shouldn't you consider cls400 instead of E350? I own both mercedes E350 and BMW 535i. I would say mercedes is more luxury; I feel like I'm in a lounge every time I drive it. However, in a BMW I feel more sporty and advance in technology. E350 would be slower but cls400 is tight against 640i. I like pre-LCI look better, it look more aggressive but it's up to you. They could give you a huge discount for pre-LCI.

[Onthatb0mbshell]

Can I be a noob and ask what LCI means ?

[boyhamdzui]

Originally Posted by Onthatb0mbshell

Can I be a noob and ask what LCI means ?

It means Life Cycle Impulse, which means facelift or mid-life. I learn it the funny way when someone said it and the forum though he lied .

[Onthatb0mbshell]

Originally Posted by boyhamdzui

It means Life Cycle Impulse, which means facelift or mid-life. I learn it the funny way when someone said it and the forum though he lied .

Lol, how bizarre

[unstoppable6t2]

Hi All,

Thanks for your responses. I've made my mind up and will be going for the 640d GC as I don't see any point hanging around for the LCI upgrade. I did a test drive and loved it. Unfortunately the rival mercs are out of the question as their prices are too high for me when compared to the BMW offers (lovely cars though). Also decided to go with the harman kardan sound upgrade (I was wrong in assuming it comes as standard).

This is what I've been offered on a business lease through my LTD company for a 640d GC Auto M Sport:
* Mileage per annum: 10k
* Term: 3yrs
* Optional extra included: Electric sunroof, Sun protection glass, 20inch alloy upgrade, reverse assist camera, Harman Kardon sound system
* Full maintenance and tyres included

Price is £600 inc VAT per month and £3600 initial payment. Is this a good offer?

Also, I have a couple of further questions regarding business lease:
* Will the car be in my name, my business's name or neither?
* Will I have to get business car insurance? The business insurance prices seem sky high.
* Will I be able to add my Mrs as a named driver on the insurance?
* Is there any way to reduce / write off the benefit in kind tax (wishful thinking perhaps!)? I will be using the car for more personal use than business.

Thanks again.

[Mud]

The LCi model has been out for a few months. Why would you need to wait.

Get the dealer to go out and find a ready made car which hasn't been registered yet.

My dealer found me an LCi with all the spec I wanted and had it delivered to them. Gave me a £12k discount on the list price and 2.9% on the finance.

On the LCi, with the M Sport Plus pack the HK speakers come as standard as does stuff like heads up etc.

Oh and the sunroof is a waste of time IMO as it doesn't open fully. Just lifts up slightly. Pointless.

[unstoppable6t2]

Hi Mud - the car I'm going for will need to be ordered anyway because of the spec I am going for. They don't have a matching one in stock. So I'm guessing the one I get will be an LCI model anyway as moving forward won't all the new cars be LCI models? Will of course check with the dealer but always good to know.

[Niklas]

Originally Posted by Mud

The LCi model has been out for a few months. Why would you need to wait.

Get the dealer to go out and find a ready made car which hasn't been registered yet.

My dealer found me an LCi with all the spec I wanted and had it delivered to them. Gave me a £12k discount on the list price and 2.9% on the finance.

Hey, i was just wondering how you managed to get that discount from your dealer and such a good rate of finance? I am going to be buying an m6 in a couple weeks and was just wondering how i should approach the whole "how much can you take off list price" or "whats the best offer you can do" part of the deal etc

Thanks

[unstoppable6t2]

Good morning - anyone able to help me with my leasing questions please? I'm totally new to this and want to make sure I'm doing things right and getting the best value of it. Thanks.

[Mud]

Originally Posted by unstoppable6t2

Hi Mud - the car I'm going for will need to be ordered anyway because of the spec I am going for. They don't have a matching one in stock. So I'm guessing the one I get will be an LCI model anyway as moving forward won't all the new cars be LCI models? Will of course check with the dealer but always good to know.

Yes the new car will be LCi

[Mud]

Originally Posted by Niklas

Hey, i was just wondering how you managed to get that discount from your dealer and such a good rate of finance? I am going to be buying an m6 in a couple weeks and was just wondering how i should approach the whole "how much can you take off list price" or "whats the best offer you can do" part of the deal etc

Thanks

I spoke with three dealers and told them about my buying profile (I change a lot) and told them to get the best deal available.

The 2.9% should be very easy to get as its a BMW Finance offer and dealers are throwing discounts at the 6 as its important to them to sell high end models.

Buying at the end of August would have really helped you drive a great deal as all dealerships were under pressure from BMW to hit their new higher targets.

I would wait until the end of Sept and approach a dealer with a specific spec and price and PCP monthly in mind and make them get to that deal

ETA: I would be looking at 12-13% discount on a new car, they have about 14% to play with plus the kick back from the finance. Dealers will always do a deal for high end metal...

[Mud]

Originally Posted by unstoppable6t2

Good morning - anyone able to help me with my leasing questions please? I'm totally new to this and want to make sure I'm doing things right and getting the best value of it. Thanks.

Get the car under personal PCP, there is no advantage to getting a business lease and you will need to keep the car parked at the office address which can't be your home address.

Get a personal PCP and claim back mileage instead.

[Nickwp]

Hi,

I've just signed up to the forum, but have some thoughts which you might find useful.

I currently have a 640D gran coupe on contract hire which ends in a couple of weeks, and have ordered another one as a replacement as the offer was too good to turn down.

Your deal doesn't look too bad but I think you'll be able to knock them down a bit. My new order is for another 640D GC M Sport, with the optional extras of the M Sport plus pack, Rear reversing camera, Surround view, Sun protection glass and individual interior trim, so quite similar to yours. With full maintenance and tyres on 10kpa the deal works out at less than £530 per month inc vat (6 up front 2 years). I would suggest that you defintely look at the plus pack as it will include the 20" alloys you want and the HK and you'll get the very worthwhile extras of the HUD and the speed limit display. Because the pack has a very good residual value the extra for the pack works out at only £30 per month (not bad given it's nearly a £3k option), and I would think it would probably work out cheaper than speccing the individual options you have.

My current gran coupe doesn't have the camera's and it's something that I insisted on having on the new one, it really is a big car when parking and I would recommend that it's almost a must have option having driven one for a couple of years.

As for the business lease, the car would be registered in Alphabet's name (BMW's contract hire company) and this will need to be disclosed to your insurers. You don't have to have a business policy, but you would need to disclose to any potential insurer that the contract hire is a business one not a personal one, which will limit your potential insurers as not all will cover this, you won't have a problem adding you wife onto the policy though. One thing on the insurance, prepare for a bit of a shock as it is an expensive car to insure and some won't touch it. I still don't know the full reason behinnd it but the car does fall in to pretty much the highest insurance group there is, for example quotes for M3's and C63 AMGs were working out cheaper!

As for the company car tax question.... well strangely enough I'm an accountant. My standard reply is always you need to talk it through with your own accountant to discuss the pros/cons of running the car through the business depending on your specific circumstances.

Generally speaking though, the way recent budget changes have gone and the closing of various tax planning opportunties with company cars means that your choices will be fairly limited I'm afraid. Obviously your benefit in kind will be quite significant on this car given it's high retail price as discounts are ignored for tax purposes, so I suspect that the company car route will be significantly more expensive to you than running the car personally, but each director/owner has their own priorites on how they extract their hard earned money from their company and personal liabilities. So I guess i'm back to where I started... have a chat to your accountant and he'll be able to run the numbers quite easily for you.

Oh and I was truly shocked when I saw the invoice for the car, the total level of discount that is being knocked off the car.... over £22k

[Niklas]

Originally Posted by Mud

I spoke with three dealers and told them about my buying profile (I change a lot) and told them to get the best deal available.

The 2.9% should be very easy to get as its a BMW Finance offer and dealers are throwing discounts at the 6 as its important to them to sell high end models.

Buying at the end of August would have really helped you drive a great deal as all dealerships were under pressure from BMW to hit their new higher targets.

I would wait until the end of Sept and approach a dealer with a specific spec and price and PCP monthly in mind and make them get to that deal

ETA: I would be looking at 12-13% discount on a new car, they have about 14% to play with plus the kick back from the finance. Dealers will always do a deal for high end metal...

Thanks a bunch for the hel, really appreciate it!
Yeah i wish i could have done it in august but it wasn't possible unfortunately, will do as you advised and go there at the end of sept as im back from london and hopefully get a good deal! (Fingers crossed)

[unstoppable6t2]

Originally Posted by Nickwp

Hi,

I've just signed up to the forum, but have some thoughts which you might find useful.

I currently have a 640D gran coupe on contract hire which ends in a couple of weeks, and have ordered another one as a replacement as the offer was too good to turn down.

Your deal doesn't look too bad but I think you'll be able to knock them down a bit. My new order is for another 640D GC M Sport, with the optional extras of the M Sport plus pack, Rear reversing camera, Surround view, Sun protection glass and individual interior trim, so quite similar to yours. With full maintenance and tyres on 10kpa the deal works out at less than £530 per month inc vat (6 up front 2 years). I would suggest that you defintely look at the plus pack as it will include the 20" alloys you want and the HK and you'll get the very worthwhile extras of the HUD and the speed limit display. Because the pack has a very good residual value the extra for the pack works out at only £30 per month (not bad given it's nearly a £3k option), and I would think it would probably work out cheaper than speccing the individual options you have.

My current gran coupe doesn't have the camera's and it's something that I insisted on having on the new one, it really is a big car when parking and I would recommend that it's almost a must have option having driven one for a couple of years.

As for the business lease, the car would be registered in Alphabet's name (BMW's contract hire company) and this will need to be disclosed to your insurers. You don't have to have a business policy, but you would need to disclose to any potential insurer that the contract hire is a business one not a personal one, which will limit your potential insurers as not all will cover this, you won't have a problem adding you wife onto the policy though. One thing on the insurance, prepare for a bit of a shock as it is an expensive car to insure and some won't touch it. I still don't know the full reason behinnd it but the car does fall in to pretty much the highest insurance group there is, for example quotes for M3's and C63 AMGs were working out cheaper!

As for the company car tax question.... well strangely enough I'm an accountant. My standard reply is always you need to talk it through with your own accountant to discuss the pros/cons of running the car through the business depending on your specific circumstances.

Generally speaking though, the way recent budget changes have gone and the closing of various tax planning opportunties with company cars means that your choices will be fairly limited I'm afraid. Obviously your benefit in kind will be quite significant on this car given it's high retail price as discounts are ignored for tax purposes, so I suspect that the company car route will be significantly more expensive to you than running the car personally, but each director/owner has their own priorites on how they extract their hard earned money from their company and personal liabilities. So I guess i'm back to where I started... have a chat to your accountant and he'll be able to run the numbers quite easily for you.

Oh and I was truly shocked when I saw the invoice for the car, the total level of discount that is being knocked off the car.... over £22k

Brilliant advice! Thanks for taking time out for your reply, it's really appreciated. I've decided to go for the m sport plus package as you said - it does make sense as it works out cheaper and I get a few extra things free. Unfortunately I couldn't push them on the price any further, but I think I still have a good deal in the grand scheme of things. So I won't lose too much sleep over that. Regarding the chat with the account - you are absolutely right, with the rules being so convoluted I wouldn't think about going forward without it.. Thanks again!