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Have just been disapointed and let down buying a new Zoe, so looking at BMW i3 94 REX, I know there is no direct comparison between the two cars, and want to go down the road of PCP, with a trade in Circ £7.5K and large deposit, what is the rough PCP to expect, am a noob on these things, as I have always bought my car outright before!
Also do BMW give you the home charger or do you have to pay?
Have read the thread on what extras to get, but keeping the car below the 40K seems to be important or Gov come and take the family silver again! My milage will be 65 miles per day (10 miles on M5 rest on back roads and once every 3 weeks a 109 mile trip to south wales and 109 mile back (104 on Motorway!)
Is it best to prepay\register with pcharge points etc
Sorry there are a lot of questions, but pre warned is something or other really important!
Thank you
Baz
 

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If it's any help, I have just signed a 3 year PCP agreement with the maximum 40% deposit (£14715) against a maxed out (under 40K) i3. After car grant the cash price is £36788. Net amount borrowed £22072. Interest £688 Monthly payment £271.

PCP goes a bit against the grain for me as I usually buy for cash but I have gone for it due to the incentive payment and also the unknown residual value of the car which is more or less guaranteed if I trade on in 3 years

I reckon a large chunk of the PCP monthly payments will be offset against lower running costs

Hope I'm right!!
 

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If it's any help, I have just signed a 3 year PCP agreement with the maximum 40% deposit (£14715) against a maxed out (under 40K) i3. After car grant the cash price is £36788. Net amount borrowed £22072. Interest £688 Monthly payment £271.

PCP goes a bit against the grain for me as I usually buy for cash but I have gone for it due to the incentive payment and also the unknown residual value of the car which is more or less guaranteed if I trade on in 3 years

I reckon a large chunk of the PCP monthly payments will be offset against lower running costs

Hope I'm right!!
Did BMW not contribute £3.5k? And why put 40% down? Would it have not been better to put down £2.5k like me and keep £12k in the bank? My i3 Rex 94ah was just under £40k and my PCP was on £30k over 4 years with interest. Deposit was £10.5k total, from me £2.5k, BMW £3.5k and UK Gov £4.5k.

My monthly's are only £473 for 25k miles p/a. £12k/48 = £250 pcm, £473 - £250 = £223 pcm, less than your £271 and also you can earn interest of at least 1.5% on the £12k just putting it in a bank account. ??

Unless you are on insane 40k p/a miles maybe? If not does not look like a good deal to me? My excess miles is only 4.7ppm too.

Also the way PCP works out I can cancel the credit agreement anytime after 50% is paid which is 29 months for me, so less than your 36 month PCP too.

Maybe my BMW sales guy was a clever bloke but I was very happy he found me a way into my I3.
 

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Did BMW not contribute £3.5k? And why put 40% down? Would it have not been better to put down £2.5k like me and keep £12k in the bank? My i3 Rex 94ah was just under £40k and my PCP was on £30k over 4 years with interest. Deposit was £10.5k total, from me £2.5k, BMW £3.5k and UK Gov £4.5k.

My monthly's are only £473 for 25k miles p/a. £12k/48 = £250 pcm, £473 - £250 = £223 pcm, less than your £271 and also you can earn interest of at least 1.5% on the £12k just putting it in a bank account. ??

Unless you are on insane 40k p/a miles maybe? If not does not look like a good deal to me? My excess miles is only 4.7ppm too.

Also the way PCP works out I can cancel the credit agreement anytime after 50% is paid which is 29 months for me, so less than your 36 month PCP too.

Maybe my BMW sales guy was a clever bloke but I was very happy he found me a way into my I3.
I chose to put the maximum in because I am cautious about the borrowing. I also put in what I am expecting to get for selling my current car which I own.

I am interested in your figures. Where did the £3500 from BMW come from?

The figures aren't exactly comparable because yours is 4 years where mine is 3
 

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There is very little incentive at the minute the 3500 @volt69 alludes to is no longer available.

I would recommend putting only the amount required to get you to a monthly value of your choose on a PCP, any additional money is wasted as you are never really going to get that back. PCP are structured to leave you just in negative equity or break even at the end of the agreement.
 

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Jack is right. Ordered mine in November 2016 for March 17 plate delivery. At that time Bmw finance were giving £3.5k deposit contribution and 2.9% Apr finance on 3 or 4 year pcp and 0% on 2 year pcp. So not apples with apples. But jack is correct. You are risking paying your own depreciation putting such a huge sum down, as the 60ah tanked in price second hand when the 94ah came out on 66 plate and the same will happen to the 94ah when the 120ah arrives next year. You will most likely end up handing the car back at the gmv with no profit to move to the next one.
 

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But how does not putting a deposit give me a balance to pass on?
Extremely unlikely, I have it work like that once in six cars - the rest are breakeven or negative at the end of the agreement.

Work backwards from a monthly amount not forwards from a deposit. Working on you are really renting the car and there will be no value left at the end compared to the GFV.
 

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Thanks for the above, very interesting reading, think i'm being done like a kipper again!, my quote before arguing is as follows
Cash Price £33,279 (metalic paint and parking assist) (this includes Govt and £1800 from BMW)
Deposit £7237 - based on my current car as a trade in, but can add about 4K to this
hence 48 Months at £370
Where am I going wrong? could be a beer in this for someone :)
 

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BMW are running no deals on the i3 that's why deal looks poor compared to others. It might be worth speaking to Fleet Drive or other I dependants but BMW control the market so there are fewer and fewer deals ATM.
 

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Extremely unlikely, I have it work like that once in six cars - the rest are breakeven or negative at the end of the agreement.

Work backwards from a monthly amount not forwards from a deposit. Working on you are really renting the car and there will be no value left at the end compared to the GFV.
Thanks,

I'll have another chat with them. I still don't understand because if I put in a smaller deposit I will surely have to pay it back at the end?
 

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Thanks,

I'll have another chat with them. I still don't understand because if I put in a smaller deposit I will surely have to pay it back at the end?
Only if you keep the car, if you hand it back job done. If you want to keep the car don't use a PCP use a HP.

BMW consider anything more than about £7k a high deposit - usually a dealer will recommend against high deposits on PCP's or they should be...
 

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I recently ordered a new one on pcp (before then finding the car I wanted second hand), this was when they were offering 2.2k deposit contribution (down to I think 1.5 or 1.2 now?) but was recommended against putting in a lot of my own money. I think the deal I was looking at was with 6k of my money on a reasonable specced bev (coming in around 37.5k before any deductions) and that was about £325 a month.

The key thing is that the pcp rate at the moment is so low you'll be paying (relatively for a finance agreement) very little interest so you're better off putting in a lower deposit, keeping the money yourself and maybe use some of it to top up what you had originally budgeted monthly to whatever the new monthly figure is. Ultimately, no matter how much deposit you put in, the GFV of your car will not change so you're still gonna have the same marginal equity (or likely no equity at all) when you hand the car back.
 

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Jack is right. Ordered mine in November 2016 for March 17 plate delivery. At that time Bmw finance were giving £3.5k deposit contribution and 2.9% Apr finance on 3 or 4 year pcp and 0% on 2 year pcp. So not apples with apples. But jack is correct. You are risking paying your own depreciation putting such a huge sum down, as the 60ah tanked in price second hand when the 94ah came out on 66 plate and the same will happen to the 94ah when the 120ah arrives next year. You will most likely end up handing the car back at the gmv with no profit to move to the next one.
In Munich a couple of weeks ago, BMW told me that there won't be a battery capacity increase with the facelift model that will go into production shortly (Nov).
 

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Have just been disapointed and let down buying a new Zoe, so looking at BMW i3 94 REX, I know there is no direct comparison between the two cars, and want to go down the road of PCP, with a trade in Circ £7.5K and large deposit, what is the rough PCP to expect, am a noob on these things, as I have always bought my car outright before!
Also do BMW give you the home charger or do you have to pay?
Have read the thread on what extras to get, but keeping the car below the 40K seems to be important or Gov come and take the family silver again! My milage will be 65 miles per day (10 miles on M5 rest on back roads and once every 3 weeks a 109 mile trip to south wales and 109 mile back (104 on Motorway!)
Is it best to prepay\register with pcharge points etc
Sorry there are a lot of questions, but pre warned is something or other really important!
Thank you
Baz
Hi

Waiting for my REX to be delivered in September and was worried by the numbers floating around so checked that BMW are still doing the PCP deal I got which was £329 for 4 years at 8000 a year, £3999 deposit and 1.3 %. The deal is still there but the figures are slightly different.

So get the deal printed off from the BMW site and take it to the dealer.

With a three month waiting list for an i3 it's worth selling your car yourself as they will give a low value as it appears i models come direct from BMW and no wriggle room on a deal.
 

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Its norm always better to sell you car private.
It usually is for other makes, with an i3 it is more difficult (not impossible of course) to sell it privately...quite a few people may want to buy a "approved" car because of the complexity and new technology. People who already own a i3, might be more relaxed about it, but they are not usually the target market.
 

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These new prices all seem so high that isn't it worth another look at used-approved. I was quoted a PCP with about a 7K deposit which was a little under what my current car was worth. Unless you just have to have the longer range of the 2017 car, are you sure you wouldn't be better off buying a £18-20K car, paying the same deposit as the PCP and then trying to finance the rest (unless you have savings which would probably be far cheaper). Then just rebuild your savings with the £350 you're not spending every month.
 
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