Help - BMW SELECT OFFER

[Badboy4life]

Hi guys.

Need some advice.

I am seriously considering a new vehicle through BMW select offer (Leasing option)
I know about all the "risk and interest" associated with this type of deal, however the pros out-weigh the cons as I will never exceed the stipulated mileage and I always keep my cars in pristine condition.

My goal with this deal is to hand in the keys to the dealer and walk away after the agreed contract period.(The month before the residual kicks in-which I am told by BMW that I have an option of doing) Has anyone done this or were you somewhat "forced" to settle the residiual at the end of the term?

Thanks

 

[sash]

Hi guys.

Need some advice.

I am seriously considering a new vehicle through BMW select offer (Leasing option)
I know about all the "risk and interest" associated with this type of deal, however the pros out-weigh the cons as I will never exceed the stipulated mileage and I always keep my cars in pristine condition.

My goal with this deal is to hand in the keys to the dealer and walk away after the agreed contract period.(The month before the residual kicks in-which I am told by BMW that I have an option of doing) Has anyone done this or were you somewhat "forced" to settle the residiual at the end of the term?

Thanks

Hand in and buy another car though?

 

[Badboy4life]

Hi guys.

Need some advice.

I am seriously considering a new vehicle through BMW select offer (Leasing option)
I know about all the "risk and interest" associated with this type of deal, however the pros out-weigh the cons as I will never exceed the stipulated mileage and I always keep my cars in pristine condition.

My goal with this deal is to hand in the keys to the dealer and walk away after the agreed contract period.(The month before the residual kicks in-which I am told by BMW that I have an option of doing) Has anyone done this or were you somewhat "forced" to settle the residiual at the end of the term?

Thanks

Hand in and buy another car though?

Yes, obligation free (as stated by the BMW sales person)
Does not have to buy another BMW though

 

[MR_Y]

This is basically a long term rental of the car.

I posted before on this forum on the Volvo rental scheme that is much better value (that is, if you just want to pay to use a car and hand it back, obligation free at the end of the term, and not own it or buy it outright).

Volvo is the only car maker in S.A. that offer you a proper rental scheme with tracker, insurance and tyres included in the deal, at a competitive monthly rate. They get bulk discounts on the tracker, tyres and insurance.

With BMW, you still need to fork out extra for tyres, tracker and insurance, so it is not a proper rental scheme. So, you have this uncomfortable variable cost over and above your lease payment.

If BMW can offer a deal like Volvo, go for it.

 

[cOlDFuSiOn]

Just don't get sucked into a F series deal now.. Not sure what car you looking at, but the new G 3er is here by early next year Latest... You'd rather want the brand new one than the outgoing one on a Lease IMO...

 

[yush1]

Personally I feel the LCI versions are always the best of the bunch. All the little niggles are sorted that normally come with a new version and theres great specials around to clear stock.

 

[Eust]

Just don't get sucked into a F series deal now.. Not sure what car you looking at, but the new G 3er is here by early next year Latest... You'd rather want the brand new one than the outgoing one on a Lease IMO...

It's actually better to lease the current due to the deep discounts on the current and the fact that at the end of the period you just giving the car back, residual value already set up front when the deal is taken.

If you wait, the G will be more expensive and very likely be a higher monthly cost, even though residual value would obviously be more for the G than the F in 3 years time.

The key is to get a car that has the lowest purchase price but highest residual value at the end of the term as the difference between the two is technically what you financing.
Example, try get a year old M240i that is initially a R700k car, purchase it for the already depreciated price of R540k and the residual value after the 3 years could be 320k.

The same structure on a 3 series would be more expensive as you could try buy a 340i for similar price but the residual value would only be 270k for example, which means that the 50k difference between the two residual values of the M240i and the 340i would be paid within your monthly installment.

 

[Badboy4life]

Thanks for your help guys. Got a really good deal and you guys just helped me to make a decision that I was loosing sleep on.

 

[VinceM]

Good news, what did you get ?

 

[AshG108]

Thanks for your help guys. Got a really good deal and you guys just helped me to make a decision that I was loosing sleep on.

Ekse!

Don't be that guy now, come tell us what you got. It seems like a good deal, share with us and we can also join in then fun!

330d or 340i...choon chooN!!!! :bravo:

 

[Badboy4life]

HAHAHAHA

Will Choon...Choon....a bit later

Let me first get it

:cartel::cartel::cartel:

 

[lebofa]

I see you have a 2014 320d, depending on how much you still owe on the car, you can get them to settle it for you when you take a new car and not trade it in.