Quote:
Originally Posted by Shost
Kmpowell, I don't get your finance figures. Are you saying the bigger your deposit the lower the GMFV?
I've posted re this elsewhere as I nearly was finance priced out of the 1M and into a Cayman S. What kept me in was a assurance from the sales and finance guys of two separate BMW dealers that BMW GMFV are very low compared to others. Thus equalling high monthlies. Where as Porsche and Merc both advised me that the there will be negligible equity to get back.
I've taken a gamble that BMW won't on the price of used that I will get a reasonable equity with BMW finance. But I'm not counting on it.
Therefore if your worried about depreciation keep it longer.
At the end of the day it's a small relatively economical and very fast turbo car made in somewhat limited numbers (how many 1Ms would they sell if it was unlimited??) Compare it to competitors, TTRS et al They've decent residuals. Do it!
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Apparently BMW FS have been burned before on settings residual values too high so yes, I believe they are much lower now. I was quoted £14,700 after 4 years, there's definitely equity there. However I financed through Yorkshire/Clydesdale Bank asset finance and their residual value for 1M after 4 years is £12,700.