BMW Price increase on 1st Jan 2021

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zabba1
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Re: BMW Price increase on 1st Jan 2021

Post by zabba1 »

This is classic tax creep, put a threshold in of 40k and gradually over time more and more cars will fall into it, just like stamp duty. The 40k should have increased in line with inflation, but the government would get less tax then.

Will be interestimg to see what happens in a no deal brexit, when tariffs get slapped on all cars coming in, and we see associated price rises. It may see an end to cheap leasing and good pcp deals, used prices should pick up even more as well.
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Re: BMW Price increase on 1st Jan 2021

Post by markm240i »

If used prices rise, then you would expect the GFV deal on a PCP to rise accordingly, so the level of depreciation may not change that much, although obviously if an increased price means more £ being financed it boils down to the APR being charged.
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Re: BMW Price increase on 1st Jan 2021

Post by Gazza55 »

Plantjuk wrote: Mon Oct 12, 2020 3:48 pm People saying price rises will be added to be knocked off. Maybe but it’s still going to push new prices over 40k so no matter how good a discount you get you’ll still have to pay the £500 a year road tax for 5 years.
Yes I think BMW are pricing the M135i out the market. 128ti now looks more competitive on price keeping it under £40k. BMW are just being greedy in the current climate. They will pay the price for 2 price increases in 12monts there was one in July.
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Re: BMW Price increase on 1st Jan 2021

Post by Plantjuk »

Gazza55 wrote: Tue Oct 27, 2020 10:14 pm
Plantjuk wrote: Mon Oct 12, 2020 3:48 pm People saying price rises will be added to be knocked off. Maybe but it’s still going to push new prices over 40k so no matter how good a discount you get you’ll still have to pay the £500 a year road tax for 5 years.
Yes I think BMW are pricing the M135i out the market. 128ti now looks more competitive on price keeping it under £40k. BMW are just being greedy in the current climate. They will pay the price for 2 price increases in 12monts there was one in July.
I dunno. Don’t forget that most will be PCP purchases so if the GFV goes up the monthlies won’t really go up. I looked at the A35 and found the M135i to be far better value especially in terms of staying under 40k coupled with the higher interest rate of Mercedes.
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Re: BMW Price increase on 1st Jan 2021

Post by Simon Site Manager »

I will be keeping my 140, PCP up in May next year but leaving BMW, I'm fed up and feel I'm being ripped off for the extras in connected drive. The only car that tempts me is the 340i, but for the spec I would want, you're talking 60k.
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Re: BMW Price increase on 1st Jan 2021

Post by rjwojcik »

Close to RS4 money, but don't forget you "might" be able to get circa £10k off. Still a lot of money for a lot of people.
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Re: BMW Price increase on 1st Jan 2021

Post by Justice »

A large number of premium car manufacturers have had a reasonably good year considering the circumstances with Covid19, as such, incentives and discounts are short in supply.

I priced a M340i touring at the beginning of the year and was offered cars with 18% discount, most recently I did the same and the best I could obtain was 10%, although the finance rates are a little bit lower now than at the beginning of the year.

Im guessing Qtr 1 2021 will bring about some incentives as it appears the market is slowing again.
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Re: BMW Price increase on 1st Jan 2021

Post by TRL »

Justice wrote: Fri Oct 30, 2020 1:52 pm A large number of premium car manufacturers have had a reasonably good year considering the circumstances with Covid19, as such, incentives and discounts are short in supply.

I priced a M340i touring at the beginning of the year and was offered cars with 18% discount, most recently I did the same and the best I could obtain was 10%, although the finance rates are a little bit lower now than at the beginning of the year.

Im guessing Qtr 1 2021 will bring about some incentives as it appears the market is slowing again.

Hey Buddy. Just to explain how that works... there was a large chassis support contribution from BMW UK in Q1,2 and 3. But at 4.9% APR>
IN Q4 BMW UK moved to a standard interest charge of 2.9% APR on all new car product (as the law is about to change on charging customers different interest rates)... To fund that move to 2.9% BMW removed all of the chassis support (on nearly every model). Thats why you have seen the discount
shrink to what you are seeing now. The dealers margin has always been around 10-12% and thats the best anyone can hope for now.
Hey Buddy. Just to explain how that works... there was a large chassis support contribution from BMW UK in Q1,2 and 3. But at 4.9% APR>
IN Q4 BMW UK moved to a standard interest charge of 2.9% APR on all new car product (as the law is about to change on charging customers different interest rates)... To fund that move to 2.9% BMW removed all of the chassis support (on nearly every model). Thats why you have seen the discount
shrink to what you are seeing now. The dealers margin has always been around 10-12% and thats the best anyone can hope for now.
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Re: BMW Price increase on 1st Jan 2021

Post by dainesefreak »

So I've started looking at 6 month old cars now with less than 1000 miles on the clock. As Halifax customer I can then use their PCP at 4.9% on a car that has lost the best part of £10k in a few months..

Works out as a decent discount.
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Re: BMW Price increase on 1st Jan 2021

Post by Ady555 »

Is the interest rate going to change anytime soon on second hand cars? At 10.9% is daylight robbery. Do people actually buy cars on tick at this rate? 😳
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Re: BMW Price increase on 1st Jan 2021

Post by JustChris »

Ady555 wrote: Sat Oct 31, 2020 3:44 pm Is the interest rate going to change anytime soon on second hand cars? At 10.9% is daylight robbery. Do people actually buy cars on tick at this rate? 😳
I always wonder this. You can see why it’s like that all second hand cars on dealer PCP look the same cost or WORSE than the new car. ‘Ok then let’s get a new one’ seems to be the answer but I agree surely no one is buying them at crazy double digit interest rates in this day and age?
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Re: BMW Price increase on 1st Jan 2021

Post by Chopper77 »

I've recently been looking at used mini's for my teenage daughter and I'm told by several mini/bmw dealers the lowest Apr for used is 5.9% if you are asked to pay a higher rate walk away.

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Re: BMW Price increase on 1st Jan 2021

Post by Ady555 »

Chopper77 wrote: Sat Oct 31, 2020 6:16 pm I've recently been looking at used mini's for my teenage daughter and I'm told by several mini/bmw dealers the lowest Apr for used is 5.9% if you are asked to pay a higher rate walk away.

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I'd be more concerned about the cost of her insurance being a teenager. 😳 A Mini isn't the cheapest first car to insure.
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Re: BMW Price increase on 1st Jan 2021

Post by Chopper77 »

Not her 1st car , second she's 19

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Re: BMW Price increase on 1st Jan 2021

Post by Gazza55 »

TRL wrote: Sat Oct 31, 2020 2:43 pm
Justice wrote: Fri Oct 30, 2020 1:52 pm A large number of premium car manufacturers have had a reasonably good year considering the circumstances with Covid19, as such, incentives and discounts are short in supply.

I priced a M340i touring at the beginning of the year and was offered cars with 18% discount, most recently I did the same and the best I could obtain was 10%, although the finance rates are a little bit lower now than at the beginning of the year.

Im guessing Qtr 1 2021 will bring about some incentives as it appears the market is slowing again.

Hey Buddy. Just to explain how that works... there was a large chassis support contribution from BMW UK in Q1,2 and 3. But at 4.9% APR>
IN Q4 BMW UK moved to a standard interest charge of 2.9% APR on all new car product (as the law is about to change on charging customers different interest rates)... To fund that move to 2.9% BMW removed all of the chassis support (on nearly every model). Thats why you have seen the discount
shrink to what you are seeing now. The dealers margin has always been around 10-12% and thats the best anyone can hope for now.
Hey Buddy. Just to explain how that works... there was a large chassis support contribution from BMW UK in Q1,2 and 3. But at 4.9% APR>
IN Q4 BMW UK moved to a standard interest charge of 2.9% APR on all new car product (as the law is about to change on charging customers different interest rates)... To fund that move to 2.9% BMW removed all of the chassis support (on nearly every model). Thats why you have seen the discount
shrink to what you are seeing now. The dealers margin has always been around 10-12% and thats the best anyone can hope for now.
That's not entirely true, discounts have been as high as 15% in Q1 and early into Q2 this year e.g from Stratstone and Knights. The only way to currently secure a higher discount of 17% is from BMW ISSD but you need to be either with the forces, police, a diplomat or with a company that has a corporate account whereby you can secure a vehicle through an employee based work scheme usually through larger employer though. ISSD are currently still offering 17% but no PCP deposit contribution anymore.
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