Financing A BMW M2 Competition HOW MUCH?! 

The final value at the end of the deal is guaranteed.

Thanks man. It’s a subject that isn’t talked about as often and it’s great to see people feeding in extra info in the comments. Will hopefully help everyone looking to finance cars :) I am enjoying making this series

Thanks man. Appreciate it 🙌

Thank you mate

Excellent video, thank you. You have a new subscriber!

you're names on the v5 logbook so you do own it

@@user-it5dc2lr3e you don't own it , your just the registered keeper

​@@grahamgardner2508 what cant i do that i could do if i bought it outright?

@@user-it5dc2lr3e probably not much difference , however you have a mileage contract , if you don't pay the payment they will come pick up the car .... If you owned the car outright them none of the above would happen. I agree with PCP , I have one myself but a high deposit is never advised , let's say you want to change the car in 2 years due to circumstances , you would never get your 10k back , you are basically paying the depreciation every month rather than paying off the car ... Again 'during a PCP you don't own the car , the finance company retain rights until you make the balloon payment'

@@grahamgardner2508 ive sold plenty of cars on pcp after a year and most of the time i get most my deposit back, you keep on making this argument about 'owning' like i said i can do anything that one could do if i bought it outright, if you dont make your mortgage payment your house will get repossessed, so you 'own' your home i take it

Thanks Kyle 🙌

I had 2 e46 m3’s and I still love that car.

It’s not the value of the car, it’s how it makes you feel. Epic cars E46s! Enjoy it.

Iv got an m235i obviously not the same as the m2 but I love the e46 on of the best

Stay humble brother. You’ll prosper one day :)

Thanks man. I’m sure the weather will improve over the next few months. For now enjoy sliding it 😂😂

Haha got the same deal !

dlite1972 you don’t need a deposit, every £1000 in deposit is worth £24 added to a monthly PCP premium. So £740 PCP per month. It would be the most ridiculous waste of liquid cash money to put it into a car to be instantly into negative equity.

That’s why I’ve decided to make the series. Trying to give some perspective of the costs involved.

@@StefABtv much appreciated

@@Patr1ck2332 good luck getting a finance company to believe you can afford 740 a month without showing any form of deposit.

Benjamin Bird I have on my M3 and M6 GC . I never put a deposit down.

If it was mine it would be lol 😂

CK ROY this! Finance things that go up not things that go down buy those cash or at least pay em off in a few years so its yours...... why has car mortgaging just become the norm, its mental? Unless its for your business like for instance car youtubers, that I can understand.

I'll just buy a used one cash in a few years for half the money...

Because some people jusy want a new car, and can afford it, so why not? Maybe some people would rather the enjoyment of a new car, than looking back at their life on their death bed and reminiscing on their spectacular mortgage overpayments ;) Also consider that if no one bought new cars you'd never have the chance to pick up your second hand bargains. So maybe you should be thanking those people rather than slating them..... Mr Fun Police?

Joseph Stankaitis this is absolutely fine and yes it does help the rest of us. Its the investment argument that I disagree with..... last year I had a deposit on a carrera T which was going to be financed I could have pulled the money from a property but wasnt comfortable with that (I simply didnt have 90k lying around i.e. I couldnt afford to buy the car outright). I then test drove the M2 and fell in love. My deposit was pulled and I have no payments. Its the investment argument I have a problem with, its just dishonest.

I don't have a hum drum german tin can, I've got a 30 year old Honda :D I'm just saying i can understand why someone would do this. We're all different and have different priorities. I just dont like smug twats telling people they should be paying their mortgage instead :)

Wise words here

Tell me how you invest 600 into properties

@@jacktaylor7319 read my post.. I said save 600 quid per month, not buy 600 properties. Just start with one property or buy some shares

Looks like magnitude

Thanks mate!

Megamounts 🙌

It's because the residual value is relatively low. You're paying the interest on the total amount, but borrowing the difference between the list price and the guaranteed price, minus the deposit. I.e, you buy the car with a 10k deposit, so the finance company gives BMW 44k, which you have to pay interest on, which over 4 years is 6.5k at 6.8 APR. The contract states that you back at 4 years and they say it'l be worth 22k, which you don't have to pay (or can use the equity if it's worth more) which means you're effectively borrowing from the finance company - 22k. With the interest on the full loan you're paying 26.5k over 4 years which is £550 a month give or take. If the car had a better residual value, you'd be paying the same interest but a smaller "loan" from the fiance company. That make sense?

Yeah I get you but that example just seemed way off maybe the GFV is low then like you say making it seem bad. I have the m2 before this and my GFV is 4k more than this so didn't make sense

Yeah the M2 is such a great car. Got an A45 vs M2C vid coming soon 🙌

Stef ABtv I'm looking forward to it :)

Yep, absolutely agree that there will be cracking deals out there. Using the calculator is just an example and try to back it up with a dealer quote. These are purely to give an example and I would expect anyone looking at finance to shop around as it’s clear you have to get a great deal on an M4C. Clearly 6.8% is high and some deals can be found much lower.

Stef ABtv I feel bad for commenting now 😞

Agreed, 2018 Audi s5 with high spec 470 per month with 10k deposit over 4 years. And gap insurance...... on the road price just over 50k

Same - much nicer. I don't rate these beamers. They're definitely a proper drivers car and its a good car but I don't rate beamers over Merc.

Haha, merc is only pleasing to the eye but quality is poor. BMW is made proper for driving thrills

I would be interested to find out where this deal is available and whether this is buying brand new or used ?

Whos giving 1.9% on an M4?

sad iq Google’s your friend! Stacks of 0% offers over the last 12 months

TJ Talks it’s from a finance company named magnitude finance, Paul Wallace advertised them as well

i was thinking the same, 6.8% IS HUGEEEEEEEEEEEEEEEEEE, its not even huge, its more than huge, its a big bang. i never saw this kind of pourcentage. LOL, basically, 3% is the average.

Don’t think they will drop that low? 30’s maybe

And what? Get a car that someone else already run into the ground before you?

'Just wait 4 years' - lol

Steve BHP DEVON finance companies low ball the balloon so that you might accrue equity sooner to get you into another deal in a newer car sooner, to keep a customer on the roundabout of swap and change.

It's not a rare car (well it won't be in 4 years) so it will drop to that level IMO. I may be wrong let's wait and see!

nurburgringuk love your video with Moran! Making my potential move from my e92 M3 to an M2 easier!

@@Patr1ck2332 Thanks Patrick! Do it you won't regret it! I'm going to do my best to post more content this year, make sure you subscribe! Let me know when you get your M2 ;-)

nurburgringuk my comment was meant to say e92 M3 to M2! yes definitely upload more content, maybe I’ll see you the Ring this year.

Prob because I didn’t go to your local dealer in Wolverhampton 🤷🏻‍♂️ As stated in the video, everyone will get different deals dependant on where you go. These are a few examples only, I’m not going to go to every dealer in the country for a RU-vid video lol!

Awesome deal 👏

@@Patr1ck2332 why not? I could have put nothing down but monthly payments were far higher. I prefer to keep my monthly payments down.

Matthew ball sorry that came across as very short, apologies for that! My logic behind the comment is that every £1000 of deposit equates to £24 per month extra on a premium per month usually. So with your deposit being £6k, meaning an extra £144 per month. Meaning £515 per month no deposit. 24 months paying the extra £144 is only £3456 over 24 months meaning that near as makes no difference your deposit has cost you liquidity of £2.5k. There is another case for what that money could be doing elsewhere to earn money as well. Nothing against your choice. Great car and hope you love it!

Thanks Patrick. It was 612 a month with no deposit, Im not sure how you've worked out ive lost 2.5k. It worked out something random like a £5929 deposit but i round it to 6k because its alot easier. Either way, i have to give the bugger back at the end of lease 😭😭

Matthew ball you know what I read it as lease purchase! So yes my figures are bound to be baffling, sorry for that haha. Cars aren’t rational purchases for us petrol heads though are they, the best thing about giving it back is getting another car specced and ordered! Enjoy it, what a brilliant car 👍🏼

Mark Stone nearly 😂

Lol it’s an extra 40k extra though? May want to use that money elsewhere?

@@StefABtv anyone with £40k just sitting there isn't exactly going to be the person to save their money

Some people can afford it then it's ok to get on finance because you change car regularly, don't need to worry about it breaking down etc

Thank you for this comment that is just misleading. It you can invest your money at a higher rate than the loan’s one, you should ho for the loan

@@Goshi89 it would require brains to think like that. Most people do not have them

I wonder why 92% of new cars are sold on finance? So either you're right or 92% of the new car buying population are wrong... mmmm

Goshi89 90% of people buying on finance aren’t professional investors..... And this is a nonsense.... if you pay the pcp over 4 years and then give it back your money was for nothing. If you pay the “GFV” which is finance speak for balloon, you will have paid far more than the car was worth in the fist place..... over your lifetime the cost of running a newish car in monthlies will equate to why you don’t have the financial freedom you thought possible just so you have a new-ish car every 4 years. Is it worth it? Pcp is a con, and unless you use the car to make money you stand to lose.

MSH R in there lad 👏👏

Conner Cox who says he is wealthy? He has 14k subs lol

rjd592 i didn’t say he was wealthy from RU-vid lmao obviously that’s not the reason why he has money for these cars.

Bruv you clearly know nothing the m2 Compition is an absolute weapon has same engine as the m3 ANd m4

I'm sorry you have no money.

@@Anthfigueroa 100% thinking the same. Guy is clearly jealous of people with good careers

Your car will smoke this m2 with full bolt ons and hybrid turbos for well under the 10K deposit. Smoke it badly too.

rusolinio121 yeah true I made a video on my car