Quote:
Originally Posted by FastLaneJB
Are you doing a PCP and taking that into account?
5 Series Tourer
APR = 2.9%
Deposit Contribution = £4,465.70
Interest paid over 4 years and base spec car is around £2.5k
Getting £2k off the list price vs paying cash
7 Series
APR = 0%
Deposit Contribution = £15,936.00
No interest obviously
Getting £15,936 off the list price.
Even if you've got the cash for it, finance it and just pay it straight off if you want but finance so you get the deposit contribution.
If you don't plan on keeping the car then you also have a higher balloon on the 7 series which helps with the monthly payments. Obviously a base 5 series still works out cheaper as your comparing a £42k car vs £70k one but the discounts they do help narrow the gap quite a bit so it's not as wide as you'd think.
Have you clicked buy on the BMW site after picking your spec? You can then pick a dealer, click buy online and it'll tell you what the finance cost is. This is before you haggle with a dealer mind but gives you a good idea of 5 series vs 7 series cost.
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I've spent the last 10 days almost solidly doing figures. It's not so much the cost that's the issue between them, it's just deciding which way to go.
I can easily get 24% off list with my options on a 7, and have managed to get 21% off with one dealer on the 5 touring. However even with that, the monthlies on the 5 are more expensive due to no 0% and lower residuals.
Mind you that is with a 5 series almost fully loaded, to match the way I would spec a 7, so that doesn't help with the cost. I've booked drives in both this weekend so hopefully that will help me make my mind up. I really want to try comfort seats in the 5 though to see how good they are compared to the 7.