Right... If I need finance. I'm calling you. Simple as that! 2022 P440e AB

Dealer....Guy Salmon Coventry...part of the Sytner Group....one comical thing whilst there was the answer to my question why the button did not open the tailgate....reply without even looking at us was 'oh the battery is probably flat....do you really want to open it?'......

BMW dealer called this afternoon......X5 3.0d Sport for 2 full days weekend after xmas insured for me and the wife...and a full tank...now that's what I expect from a dealer looking for me to spend the thick end of 50K...

Still want a RRS though

The crappy dealer near my office (not my home city) is the main reason I am still driving a BMW not a LR

Truly truly shocking customer service

And as for a test drive - LOL, how naive of me to even suggest more than 20mins may be handy for a 55k car

But I guess they must be selling so many they dont need my trade............

NOT!

Hi Slider... GS Cov... oh we have had some run-ins' with them over the years.. there was a point in time when we were nicking customer after customer, and 'placing' their business at another local dealer (which led to their DP calling the other dealer saying what are you playing at..!) ha.. The forum sponsors should beable to sort you out, but if its too far afield, let me know and we'll see what we can get you more locally to Solihull/cov demo wise..

Bmw dealers in the area around here are very good to be fair. Sytner have pretty much taken monopoly of Birmingham, taking on Rydale and Sytner solihull, but i believe Damon Hill and some other's round the warwickshire area are still seperate before the big sytner monster swallows them up too..

Paulo Amore, nice one mate, if you ever need any more details/questions answering, email me direct: kam@mhasnain.co.uk and i'll give you examples and show you how other things work on the 'shop floor' nowadays.. i know everyone has experience of car buying etc on these forums, as the clientel visiting these forums are generally the 'more clued up' variety.. but still the moves in the finance, and the changing rules and regs on an annual basis and the speed at which the industry and rates move, is astonishing, we have never had a consecutive quarter where we've been dealing with the same people at the bank/same team/same products etc.. soon as something settles down, it moves again or someone changes something, so we're continually improving our product offering, and are always talking via dealers seeing what they offer and how we can keep our finance products working to keep long term custom, not just the gimmicky one off sales, which may/may not work.. you can be the guineapig, and some poor bank somewhere will underwrite the deal and take the hit / wiggle their way out on the small print.. You ALWAYS pay for the car, up front, in the middle, or at the end..(obviously with interest the longer you leave it.) some people enjoy not paying anything and keeping the cash, and finance nowadays is NOT for people who can't afford the car, just people who would rather not take a load of cash and leave it out on the driveway where it will depreciate guaranteed..

We have plenty of customers who source cars via us and pay cash 100%, but they have so much of it.. (not mentioning any names.. ) that it makes no odds to them, but most people are more aware of cash being available readily/invested elsewhere in business/properties etc.. especially right now with all the relative bargains coming about on the property market! i know where my money is going.. and its not on the chauffeur fleet!

Theo_Pental wrote:

The crappy dealer near my office (not my home city) is the main reason I am still driving a BMW not a LR

Truly truly shocking customer service

And as for a test drive - LOL, how naive of me to even suggest more than 20mins may be handy for a 55k car

But I guess they must be selling so many they dont need my trade............

NOT!

See Jay.. guys.. i have still got the ability to rant on and write essays on the ol'forum!

Sorry just read back, and i've let off a lot of steam now.. so.. and RELAXXXX..

PauloAmore wrote:

Makes sense, so flat is without charges. I appreciate the reply BTW.
- Can't help but be reminded of the good old days when everyone was nice to each other on here.

Yes, you are spot-on. To work out the amount payable take the advance (say £5000) then multiply by the flat rate multiplied by the number of years then add the initial advance and divide by the months..........

eg.

Loan X (flat rate x years (as a %)) = Interest

Interest + Advance / months = monthly payment (plus any fees).

So.......

£5000 over 48 months at 5% flat is:

£5000 x 20% = £1000 interest

£1000 + £5000 = £6000 repayable

£6000 / 48 months = £125 per month (plus any arrangement fees)

Don't ask me the APR though!

James

Kam,

If only ST had set a category for the most detailed and passionate response in the forum awards then you'd definitely get my vote!!

Your comments regarding long term PCP's with big GMFV's is quite interesting.... You get a lot of people going for the smallest monthly payment, but who knows what is going to happen in 24 months. Quite often people just want a change, however as you say, if your only part-way through the agreement and your have a big GMFV then the chances are you'll be upside-down and in negative equity.

So, the moral of the story is to judge how long you'll have the vehicle and not to be tempted to drag the agreement out to lower the payment.

Interesting stuff Kam!

James

James/Kam

Hi - great thread

One things bugging me though....

If the BOE interest rate is currently 2% why cant I get anywhere near that with dealer/LR finance?

And yes I appreciate its complex with GFV's eorders of magnitude above this kind of stick in the throat

What interest rate can you offer me?
Naturally Im thinking of an ex demo TDV8 or even a new one at around the 40k mark which recent posts dignify as being reasonable

Cheers

Theo... well basically.. in April 08, the lenders we use, came off tracking BOE base rate, and went onto LIBOR internal rates, and have continued doing so ever since. Tracking packages like balanced payments became unfeasible for lenders such as RBS as they simply can't afford to sustain the losses it created, so they all across the board, either exited the vehicle finance market like Alpheera (bmw only once again) and various other lenders who are no longer quoting anyone happy!

Some of our lenders are european based banks, who pool funds at fixed rates, and this moves month on month, granted its been moving downwards, but they are refusing to pass on that much of the saving, as tere are cars being repo'd left right and centre, and they are taking massive losses on the bottom lines at auction where the top metal as we all know is worth nothing relatively right now.

Theo, i am sure i provide you with a quote, but send me an email with what you are looking to borrow if anything, and we'll tailor you a package to suit.. we have had downward shifts of the rates in the past week, and due another im hoping in the first week of Jan!

As with Kam, lenders are having to make money out of new business to fund the losses created by early terminations, repossessions and unachievable GMFV's.

As with the rate we offer.... it all depends on what you're buying, over how long, GMFV or no GMFV etc etc etc therefore difficult to give a figure but if you search hard enough you'll possibly get an HP deal at 5% ish (flat not APR!) from someone.

James

Last edited by Lookers Park Royal on Tue Dec 23 2008 8:00am. Edited 1 time in total

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Charles Hurst Park Royal wrote:

As with Kam, lenders are having to make money out of new business to fund the losses created by early terminations, repossessions and unachievable GMFV's.

As with the rate we offer.... it all depends on what you're buying, over how long, GMFV or no GMFV etc etc etc therefore difficult to give a figure but if you search hard enough you'll possibly get an HP deal at 5% ish (flat not APR!) from someone.

James

Yes we are always picking up new clients and building our book, but we are no way affiliated or partners with one bank more then the other, we will gladly pick up and move to whoever is offering the best deals for our clients and place their business with the best lender in the market at that time. As time goes on, and our book builds up we have the opportunity to get on board with any lender we choose, but fortunately due to our family set up with the businesses, we have no £3m showroom and countless staff members to fund, so we will work for £50 on a deal to get the client and business for future benefit.. we offer a truely personal service and listen to what each person's circumstance and situation is and try and sort them out with either just the funds or with both the metal and the funds if needs require. For example a very good client of ours, who changes every 12 months and buys completely random cars, i was at his house last night at 10.30pm getting bank stats from him so he can get his car on xmas eve!

In regards to the rates you mentioned James.. it is dangerous mentioning rates on open forum as they do change all the time.. but at this moment in time... we would be very happy to provide a HP deal at 5% flat! in fact we'd bite the person's arm and most of his/her torso off at that rate!

kam100 wrote:

In regards to the rates you mentioned James.. it is dangerous mentioning rates on open forum as they do change all the time.. but at this moment in time... we would be very happy to provide a HP deal at 5% flat! in fact we'd bite the person's arm and most of his/her torso off at that rate!

Nice Ad Kam, and thanks for the advice, there's far more dangerous statements made on this forum than that I can assure you.

Sytner guys loose out in the end, because they will all be out of a job!

it happened to me last night, i was in Louis Vuitton, and no one was there to serve me when buying xmas presents, im not a window shopper, i like to get in, buy, and get out,

but i was standing at a counter looking at a bag for my mother, and i asked a lady for help, she told me to wait and she carried on talking in french to her co worker, fair enough, i was uber casual, maybe she thought i was a window shopper, but it was her loss, as i just walked out and went elsewhere to buy it!

in this market, in any form of business, ppl should be bending over backwards to accomodate you, as its not always about making proffits at the moment, its about staying above board,

i personally have started taking on the more difficult cases of tennants wanting to rent flats, but not always having the full amount of money to pay the rent, i am happy to lower the price and cover costs, but not make money, as it helps me sleep better at night, knowing that my bills are paid!

i feel the car industry is gona take a worse hit in the comming 18 months! RR Sport supercharged 06
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