[robbiep]

No idea if it's any good or not, but HJ are currently offering £15.7k deposit contribution on the X3 M Competition.

Customer deposit £999. £699 per month. 48 month deal, 8k per annum.

The mileage penalties are brutal though - 23p per mile

https://www.halliwelljones.co.uk/bmw...3m-competition

[JustChris]

Pretty decent offer that.

That John Clark dealer I posted the Z4 deal for was £699 £699 I think but once you're that close, might as well go local.

Nice to see a few thread again

[330XDave]

No comparison to the X3M offers earlier in the year though is it?

[JustChris]

Originally Posted by 330XDave

No comparison to the X3M offers earlier in the year though is it?

Yeah but I doubt we will see that again. Was it £549 £549 or something? Good deal. Not entirely sure everyone that jumped on it loves the new car though.

Maybe the era of the M SUVs might be short lived. Maybe not!!

[mikeoz]

Still can take sell them then?

[JD6]

Originally Posted by robbiep

No idea if it's any good or not, but HJ are currently offering £15.7k deposit contribution on the X3 M Competition.

Customer deposit £999. £699 per month. 48 month deal, 8k per annum.

The mileage penalties are brutal though - 23p per mile

https://www.halliwelljones.co.uk/bmw...3m-competition

I wish my mileage penalty was 23p per mile - it's 41p per mile on mine, which is a real shame as I love it and would happily go 10-20k miles over

[mikeoz]

Originally Posted by JD6

I wish my mileage penalty was 23p per mile - it's 41p per mile on mine, which is a real shame as I love it and would happily go 10-20k miles over

ooooccchhhhhh..

[RustyBitz]

Decent offer of the latest spec with the new iDrive vs the iDrive 6. Still loving my car no regrets at all.

[davyk31]

Originally Posted by mikeoz

Still can take sell them then?

That’s not going to look very pretty with only £549 deposit in. A lot of negative equity for a long time.

[Goneinsixtyseconds]

Originally Posted by davyk31

That’s not going to look very pretty with only £549 deposit in. A lot of negative equity for a long time.

Putting a deposit in doesn’t make your negative equity any better. You’ve just chosen to pay it in advance.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

Putting a deposit in doesn’t make your negative equity any better. You’ve just chosen to pay it in advance.

so you dont have negative equity....

it doesnt mean you lose less money (although you pay less interest) but you can get out without negative equity....

ETA definition of negative equity...(potential) indebtedness arising when the market value of a property falls below the outstanding amount of a mortgage secured on it. This is in relation to houses but same principle applies to cars...

[Goneinsixtyseconds]

Originally Posted by isleaiw1

so you dont have negative equity....

it doesnt mean you lose less money (although you pay less interest) but you can get out without negative equity....

ETA definition of negative equity...(potential) indebtedness arising when the market value of a property falls below the outstanding amount of a mortgage secured on it. This is in relation to houses but same principle applies to cars...

Maybe I worded it incorrectly for you. Putting a deposit down is a placebo that makes you think you’ve avoided the cost of negative equity in your car.

On the zero interest, or very low interest deals, BMW often roll out, your deposit works just as well in the bank waiting to cover negative equity if you want to get out of the car, as it does if it’s sunk into the deal you did.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

Maybe I worded it incorrectly for you. Putting a deposit down is a placebo that makes you think you’ve avoided the cost of negative equity in your car.

On the zero interest, or very low interest deals, BMW often roll out, your deposit works just as well in the bank waiting to cover negative equity if you want to get out of the car, as it does if it’s sunk into the deal you did.

Yep, you worded it wrongly, you put a deposit down to avoid negative equity, and it works.

Cost wasnt mentioned - just the ability to be able to get out and do something different when you want to....

[davyk31]

Generally putting in a low deposit often means the person does not have the money for a larger deposit or to fund negative equity should they want out early. So if you have £10k negative equity not many will have the cash ready to bail them out of a car if they want to and with such low deposits negative equity is a real factor for a long time.

[Goneinsixtyseconds]

Originally Posted by davyk31

Generally putting in a low deposit often means the person does not have the money for a larger deposit or to fund negative equity should they want out early. So if you have £10k negative equity not many will have the cash ready to bail them out of a car if they want to and with such low deposits negative equity is a real factor for a long time.

But the cost is pretty much the same, whether it’s paid as a deposit up front, or as a negative equity hit when you exit.

Paying it up front just gives you the illusion that you’ve got out of without too much pain because you’ve forgotten the deposit you previously paid.

Not true of everyone that low deposits mean you don’t have the cash to do it. It’s been discussed many many many times on here, some people don’t see the point in putting cash into a heavily depreciating asset.

I don’t do it (usually) because I know I’m likely to VT at some point, and by putting a large deposit down I’ve thrown away around 20-25% of the that deposit. The exception is our Q7, which I knew we were keeping for 4 years and had a 7% interest rate, I put £20k into that as I knew we wouldn’t VT and I wanted to avoid interest.

On my 440i and my X3 I put zero in, because interest rates are low and I’ll probably VT. I know to most the words “negative equity” sound much worse than deposit. I don’t form an opinion on the words, I just see them in pound notes, and the difference is often minimal.

[Goneinsixtyseconds]

Originally Posted by isleaiw1

Yep, you worded it wrongly, you put a deposit down to avoid negative equity, and it works.

Cost wasnt mentioned - just the ability to be able to get out and do something different when you want to....

Cost was not in the sentence accepted, thanks for splitting those hairs for me. It was clearly implied though, by saying your deposit upfront is the equivalent of your negative equity payment to get out.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

But the cost is pretty much the same, whether it’s paid as a deposit up front, or as a negative equity hit when you exit.

Paying it up front just gives you the illusion that you’ve got out of without too much pain because you’ve forgotten the deposit you previously paid.

Not true of everyone that low deposits mean you don’t have the cash to do it. It’s been discussed many many many times on here, some people don’t see the point in putting cash into a heavily depreciating asset.

I don’t do it (usually) because I know I’m likely to VT at some point, and by putting a large deposit down I’ve thrown away around 20-25% of the that deposit. The exception is our Q7, which I knew we were keeping for 4 years and had a 7% interest rate, I put £20k into that as I knew we wouldn’t VT and I wanted to avoid interest.

On my 440i and my X3 I put zero in, because interest rates are low and I’ll probably VT. I know to most the words “negative equity” sound much worse than deposit. I don’t form an opinion on the words, I just see them in pound notes, and the difference is often minimal.

Whereas I put a deposit in because
- when I want to swap I want to swap and dont want negative equity getting in the way - especially as it may be that for want read need...
- once its spent its spent - and if I am comfortable chucking it in up front then its gone, forget it...

I am reasonably competent with numbers so I am absolutely aware of how much running a nice car costs... the comments was that a deposit doesnt affect your negative equity. It does.

Have a good eve...

[Goneinsixtyseconds]

Originally Posted by isleaiw1

Whereas I put a deposit in because
- when I want to swap I want to swap and dont want negative equity getting in the way - especially as it may be that for want read need...
- once its spent its spent - and if I am comfortable chucking it in up front then its gone, forget it...

I am reasonably competent with numbers so I am absolutely aware of how much running a nice car costs... the comments was that a deposit doesnt affect your negative equity. It does.

Have a good eve...

And my comments were the costs are pretty much the same, unless interest rates are high, so your choices are psychological, not financial. Enjoy your evening too.

[isleaiw1]

Originally Posted by Goneinsixtyseconds

And my comments were the costs are pretty much the same, unless interest rates are high, so your choices are psychological, not financial. Enjoy your evening too.

And the last word goes to...

even though he was wrong!

[Goneinsixtyseconds]

Originally Posted by isleaiw1

And the last word goes to...

even though he was wrong!

I wasn’t wrong. You were splitting hairs on a comment I posted. It was obvious I was talking about the cost, and if it wasn’t obvious, I clarified it for you pretty quickly.

And my post wasn’t even in reply to anything you wrote, it was someone else’s. And you say I’m argumentative. Pedant.

[Lyndon_X3M]

Originally Posted by JustChris

Yeah but I doubt we will see that again. Was it £549 £549 or something? Good deal. Not entirely sure everyone that jumped on it loves the new car though.

Maybe the era of the M SUVs might be short lived. Maybe not!!

No regrets here. Great family car and incredibly fun to drive when dialled up.

[kzg1969]

from what i remember, the figures look the same except BMWFS are putting a £5k contribution in.

2nd hand market seems to have strengthened a bit in the last 2-3months