BMW 330e

sligo_dave

I'm just been told by my dealer that the pcp rate on the 330e is now 7.9%! Anyone else come across this? Seems like giving the €4000 to take it back in interest.

mickdw

Yes was told that but also told no contribution at all!
Shop around!

bazz26

No such thing as a free lunch, especially from car manufacturers. Sounds like they are just playing around with numbers.

sligo_dave

bazz26 wrote: »

No such thing as a free lunch, especially from car manufacturers. Sounds like they are just playing around with numbers.

Ah it's a joke. I have a deal done since September and was told today (only because I called in) that my original deal no longer stands and the new deal increases the monthly by €135. The additional interest is €3460 to get €4000 "contribution", which isn't a choice. Considering cancelling and getting my deposit returned.

carsfan2

What happened to 4.9 per cent that is advertised?
Basically are the recouping the 4 k contributions by hiking the rates?

sligo_dave

carsfan2 wrote: »

What happened to 4.9 per cent that is advertised?
Basically are the recouping the 4 k contributions by hiking the rates?

Yeah, today I was told the 330e is now only available at 7.9%, so basically recouping all but €500 of the contribution. Making it look like a deal when they are just ripping the piss on the finance.

bazz26

I'd cancel out of principal if they pulled that with me.

Maybe go to a different dealer first as there seems to be inconsistent information depending on which dealer you talk to.

Oafley Jones

sligo_dave wrote: »

Ah it's a joke. I have a deal done since September and was told today (only because I called in) that my original deal no longer stands and the new deal increases the monthly by €135. The additional interest is €3460 to get €4000 "contribution", which isn't a choice. Considering cancelling and getting my deposit returned.

Can they cancel the deal since they've taken a deposit at agreed terms?

carsfan2

I have a feeling Bmw ireland don't really have a coherent plan here.
They had introduced spec improvements for 2017 i.e. M sport for 995 etc but these were then scrapped a couple of weeks later in favour of these contributions I guess in a response to Mercedes.
Now they see that the 330e has turned into a complete bargain on pcp they are moving the goalposts again.
I don't know what I would do as you're still 500 euro up on your original deal and a free service pack worth 500.
Also If they aren't giving the car away it will probably preserve the residual better and you will benefit at the other end.
I still would create a stink and see what happens.
Your car is already ordered so they won't want you to cancel.

Very amateurish behaviour on their part however.

mickdw

How could this deal increase your monthly by 135 if they are giving 4000 contribution and taking back less in additional interest assuming all else is equal.

The contribution is going in as deposit. You must be saving money up front on deposit if your monthly is increasing 135.

I've a feeling that this is the same dealer who quoted me 830 per month with 5k cash deposit.

bmwguy

It seems to be all smoke and mirrors, reduce deposit but increase payments to balance.

They are offering 4000 contribution on new 5 series in early 2017 which I assume was going to fly out the door anyway

Pity really, it did have my interest

sligo_dave

Oafley Jones wrote: »

Can they cancel the deal since they've taken a deposit at agreed terms?

They claim they can't do the previously agreed terms anymore, the finance deal i agreed to has expired. However, when i done the deal i was told in no uncertain terms that my finance would not change even if a new deal came out unless i opted for the new deal. Legally, if they refuse to stand by their terms, they have to return deposit as they have breached the terms of agreement.

carsfan2 wrote: »

I have a feeling Bmw ireland don't really have a coherent plan here.
They had introduced spec improvements for 2017 i.e. M sport for 995 etc but these were then scrapped a couple of weeks later in favour of these contributions I guess in a response to Mercedes.
Now they see that the 330e has turned into a complete bargain on pcp they are moving the goalposts again.
I don't know what I would do as you're still 500 euro up on your original deal and a free service pack worth 500.
Also If they aren't giving the car away it will probably preserve the residual better and you will benefit at the other end.
I still would create a stink and see what happens.
Your car is already ordered so they won't want you to cancel.

Very amateurish behaviour on their part however.

No free service deal,only €4000 contribution as I had received discount already which had supposedly included the service pack. This is the first time i was made aware of this, previously it was a discount on the overall. So if they want to push it and i decide not to cancel, i will be going the route of % discount that was applied was overall, not specific extras and servicing is now to e deducted from original price.

mickdw wrote: »

How could this deal increase your monthly by 135 if they are giving 4000 contribution and taking back less in additional interest assuming all else is equal.

The contribution is going in as deposit. You must be saving money up front on deposit if your monthly is increasing 135.

I've a feeling that this is the same dealer who quoted me 830 per month with 5k cash deposit.

Its not the dealer you went to first, no. Its the second dealer you spoke to. Yes, the €4000 is deducted from the deposit but its only leaving money in my pocket now to take it back over the pcp term, which changes its level of affordability on a monthly basis. yes, i could put that money aside and use to top up the monthlys but thats no benefit in real terms. Its the principle i have issue with, the arrogance and level of customer service i have received is abysmal.

bmwguy

If this is all true Sligodave, and I'm not doubting you, it's amazing they think they could pull the wool over people's eyes.

They advertised the contribution heavily as a big unique selling point. But to recoup that through financing costs is an abysmal practice.

However it's a valuable consumer lesson, look at the entire cost only and not how it's dressed up

sligo_dave

bmwguy wrote: »

If this is all true Sligodave, and I'm not doubting you, it's amazing they think they could pull the wool over people's eyes.

They advertised the contribution heavily as a big unique selling point. But to recoup that through financing costs is an abysmal practice.

However it's a valuable consumer lesson, look at the entire cost only and not how it's dressed up

I have all in print, both my original deal and what they now want to go with. I always thought buying new would be a nice experience, I bought my house with less hassle and importing cars from Japan with less hassle.I hope other dealers do a better job, and I hate to say it but I regret deciding to buy a new car.

digiman

Do you think it's just the 330e that they are doing this carry on with as it's already got large discounts via the grants? It clearly gives the APR on their website along with the dealer contribution.

It's farcical really and very underhanded.

Mooooo

sligo_dave wrote: »

I have all in print, both my original deal and what they now want to go with. I always thought buying new would be a nice experience, I bought my house with less hassle and importing cars from Japan with less hassle.I hope other dealers do a better job, and I hate to say it but I regret deciding to buy a new car.

If you have you deal done they can hardly change? I'd stand firm

sligo_dave

I'm not sure about other models, the 330e is the only thing I was discussing.

Mooooo wrote: »

If you have you deal done they can hardly change? I'd stand firm

They reckon BMW financial services are only offering the current offer. They reckon the previous pcp deal expired after 90 days (from sept 10th) but I was previously told they only had to renew the application to keep it valid. They clearly failed to do that. I'm going to consider all options and try figure out what to do.

carsfan2

You have been badly treated here Sligo Dave.the attitude of your dealer stinks.
Did another poster Moe not say his dealer was giving him the 4K no prob?
Have you spoken to the owner/ management re your order?
If you get no joy,I would contact Bmw Ireland directly to clarify what you are entitled to. I had issues with a previous BMW I ordered where the garage were unhelpful before it was delivered and when I got on to BMW ireland their attitude changed as a result of my escalating it up the line.

bmwguy

I would be interested to hear any other experiences or if this was just a poor salesman. If deposit contributions and low interest rates remain, it's great news for car buyers all over the country, no matter what they are buying.

It will push 5 series closer to 3 series prices, the 3 series price will also drop down towards mondeo/passat prices forcing them to be more competitive to retain market share, meaning closing the gap to golf/focus class, prompting a drop there too...

Moe1013

carsfan2 wrote: »

You have been badly treated here Sligo Dave.the attitude of your dealer stinks.
Did another poster Moe not say his dealer was giving him the 4K no prob?
Have you spoken to the owner/ management re your order?
If you get no joy,I would contact Bmw Ireland directly to clarify what you are entitled to. I had issues with a previous BMW I ordered where the garage were unhelpful before it was delivered and when I got on to BMW ireland their attitude changed as a result of my escalating it up the line.

Carsfan is correct. My dealer simply lopped another 4k off my original (good) deal. He checked it out with BMW to make sure and sent me a new contract. Its due in a month. Thing is I'm not taking any BMW finance though, but at the rates quoted now anyone choosing to do this is getting screwed. I appreciate some people have no choice in this.
Agree this is awful messing on the part of the dealers. Most dissapointing.

carsfan2

Just looked at Bmw website and it does say in the small print 4.9 per cent on selected models only so suppose they have decided not to allow this on 330e as well as the 4K contributions.

What they give with one hand they take away with another.
I bet they are applying the higher interest rate on the new 5 too.

mickdw

yes it's fair enough if they have a model that is selling well however the way the dealers are presenting this is a disgrace and them all having a bmw genius in situ!
In the current market, zero percent interest is now expected whether it's by discount, contribution or straight forward 0 percent interest.
Trying to profit on the government grants which make the model well priced by charging 8k interest and discounting 4k leaves a bad taste.

carsfan2

It's poor alright but I'm not surprised.
Very sharp practice,but also I think lack of dealer knowledge on product.
Did you get quoted 7.9 per cent too mick?

mickdw

7.9 and no contribution at first dealer.
Only phoned second guy who confirmed contribution was available and didn't get any further on the phone as I was due to call in to them to go through it in detail.

mickdw

Main Dealer staff annoy me. If I'm interested in a car, I will have gobbled up all info available on it from official info to YouTube videos etc.
If my job was selling a particular car brand, by God out of interest alone, I would know them inside out.
I realise that sometimes that apparent lack of knowledge might be to hide something like a facelift coming to help a sale but in general the product knowledge is terrible.

carsfan2

I agree with you mick, dealer knowledge is pretty lacking but I guess a lot of that is because car sales people are not necessarily interested in the product or are car enthusiasts. However if you were selling anything you would do your homework on what you are selling.

On a different note, I passed 10k km today in my car. Still very happy with it.
Long term mpg is now 51 mpg which is a big drop in the last couple of months due to dropping temperatures and a few 250 mile round trips with no chance of charging. However I still think that's great considering the performance and smooth drivetrain.
Have had no problems at all and car feels well put together much better than the 2013 330d I had previously.

bmwguy

I used to work in a bmw dealership, not in sales, but I got interested in the cars while I was there. The level of knowledge of the sales staff back then was terrible too

sligo_dave

Well after a little bit of further "discussion" with my dealer, I'm still going ahead with the car. As they changed their terms, so did I and got a better deal from it. I was close to walking away from the deal after last week but I suppose they didn't want to get stuck with a car already delivered to them! Looking forward to collection again now!

mickdw

sligo_dave wrote: »

Well after a little bit of further "discussion" with my dealer, I'm still going ahead with the car. As they changed their terms, so did I and got a better deal from it. I was close to walking away from the deal after last week but I suppose they didn't want to get stuck with a car already delivered to them! Looking forward to collection again now!

Any further info on that deal?

sligo_dave

mickdw wrote: »

Any further info on that deal?

Pm me what you want to know.

carsfan2

Good to hear you got sorted but it still sours things when dealers pull crap like that and does nothing for the reputation of the industry.
The fact they physically had your car put you in a good position to negotiate.
Hope you enjoy it when you take delivery.

sligo_dave

Finally took delivery of the 330e yesterday. 24 hours in and all I can say is wow! Very happy with it so far. A lot yet to learn but so far, so good!

Pic attached after collection yesterday:

bazz26

Looks the business, good luck with it. The black grill really goes well with Estoril Blue.

XsApollo

Sweet

carsfan2

Looking good.
Hope you enjoy it and got treated ok by the dealer in the end. I think the black grilles on the m sport make a big difference.

mickdw

lovely looking car.
I'd say you are loving the performance.

vintagevrs

Lovely motor, enjoy

Voodoomelon

Looks brill, best of luck with it.
I've always disliked back grills, but that genuinely looks great.

sligo_dave

Thanks, yes performance is fantastic, very smooth and loads of power in it. The immediate torque is a nice feel. Done work and home today on fully electric so happy with that! Harmon kardon system is fantastic after a few minor tweaks,

Moe1013

Looks fab. Well wear. Will keep an eye out for it! Mine due in 3 weeks. Same spec apart from colour White. Think you might be right about the grille too.

MarkN

I've always found that BMW dealers have some discretion in terms of rates. Obviously depends on how much you're borrowing but I'd hazard a guess some dealers will be more flexible than others.

This car has sparked my interest over the last few months based on this thread but not at 7.9% it wouldn't. I could get a better rate with Bank Of Ireland ffs!

carsfan2

I thought the finance rates were dictated by BMW themselves and the dealers could only offer what they were told to do.
The 7.9 rate is crazy high alright but seems to be policy to give with one hand and take back with the other.
Unless you have me trade in and are paying cash they screw you regardless of the supposed great offers
That's BMW economics...

digiman

carsfan2 wrote: »

I thought the finance rates were dictated by BMW themselves and the dealers could only offer what they were told to do.
The 7.9 rate is crazy high alright but seems to be policy to give with one hand and take back with the other.
Unless you have me trade in and are paying cash they screw you regardless of the supposed great offers
That's BMW economics...

But their website clearly says 4.9% APR along with the contribution. Where is the 7.9% coming from?

bazz26

digiman wrote: »

But their website clearly says 4.9% APR along with the contribution. Where is the 7.9% coming from?

This is the problem and it was mentioned in this thread a number of pages back. There seems to be conflicting information between what the webpage says and what dealers are saying. Dealers are even inconsistent with their information depending on which dealer you talk to.

carsfan2

It appears that BMW have decided to apply 7.9 per cent to the 330e. I presume this is because between them putting the SEAI grant into the deposit and their 4K that is effectively 9grand of deposit before the buyer commits any of their own money making it very cheap to add a small deposit or effectively the buyer can put nothing down up front.
I suppose they want to make the money back on higher repayments.
I wonder if they are selling many really?
I have only seen one other besides my own.

digiman

carsfan2 wrote: »

It appears that BMW have decided to apply 7.9 per cent to the 330e. I presume this is because between them putting the SEAI grant into the deposit and their 4K that is effectively 9grand of deposit before the buyer commits any of their own money making it very cheap to add a small deposit or effectively the buyer can put nothing down up front.
I suppose they want to make the money back on higher repayments.
I wonder if they are selling many really?
I have only seen one other besides my own.

I've seen 2 of them around, according to this website

http://www.beepbeep.ie/stats/?sYear%5B%5D=2016&sYear%5B%5D=&sRegType=1&sMonth%5B%5D=&sMonth%5B%5D=&sMake%5B%5D=BMW&sRange%5B%5D=3%2BSERIES&sEcc%5B%5D=1901-2000&sEcc%5B%5D=2001-2100&x=45&y=12

They have sold 88 out of 1095 total 3 series which is 8%. I would think this year it will have a good bit more marketshare.

bazz26

Surely the SEAI grant and partial VRT rebate should have nothing to do with what BMW make on a 330e though, they are paid for by the Government? It might have something to do with preserving their market share of diesel sales where let's face it their volume is.

carsfan2

I agree the grants don't affect profit on the car but if they can get more profit by charging more interest they will to recoup the 4 k contributions.

sligo_dave

For the 7.9% rate, I spoke to BMW head office and they confirmed that is now the rate for the 330e and the 3.9 will no longer apply. I presume this is due to the order backlogs with them, moreso in the U.K. and Europe than here in Ireland, but I reckon they think there will be a big demand so that's why the rate is higher!

carsfan2

I reckon the 7.9 rate is to claw back some of the 4K contribution. I think they probably don't have a huge allocation here of them so reckon they can sell them all anyway.