*Video 3 of the Finance series. Bit of fun, what other cars should we do on this finance series? Follow me on Instagram @stef_abtv*
@UTubeSL
5 жыл бұрын
Excellent video, thank you. You have a new subscriber!
@babarr2671
5 жыл бұрын
Brilliant video to explain finance I’ve had 3 cars on finance from bmw. Learning points I personally had were - do a lot of research - ring around - and play them off against each other . ( they are always making money off you) - no one is doing you a favour . Also if you are retention customer - the deals are a lot better!
@StefABtv
5 жыл бұрын
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
@adamg3938
5 жыл бұрын
This car can get you into financial difficulty and negative equity if you sell the car early and the final value at the end of the deal is not guaranteed especially when conventional cars are losing so much value, you can have as much fun with a E46 M3 for £10,000.
@dr.benjaminbird7631
5 жыл бұрын
The final value at the end of the deal is guaranteed.
@grahamgardner2508
5 жыл бұрын
Giving a finance company 10k deposit is mind boggling , why give them 10k when you'll never own the car using a PCP . Lower monthly payments but handing out such big cash is crazy .
@user-it5dc2lr3e
5 жыл бұрын
you're names on the v5 logbook so you do own it
@grahamgardner2508
5 жыл бұрын
@@user-it5dc2lr3e you don't own it , your just the registered keeper
@user-it5dc2lr3e
5 жыл бұрын
@@grahamgardner2508 what cant i do that i could do if i bought it outright?
@grahamgardner2508
5 жыл бұрын
@@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'
@user-it5dc2lr3e
5 жыл бұрын
@@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
@comeonman7423
3 жыл бұрын
Lovely video Stef, would of loved to see a finance video on your beautiful A45! Absolutely loved seeing that on your Channel
@StefABtv
3 жыл бұрын
Thank you mate
@ChipZilla69
5 жыл бұрын
By a nearly new M240I for around 25 - 30k. Spend about £500 on an ECU remap and wolla, you have an almost M2 for half the price and you own the car with no balloon payment. Also the car is yours so you have some resale value on the end.
@robertolombardi3698
5 жыл бұрын
Why would you want to get rid of a BRILLIANT car like the M2 Competition? This car should be a keeper
@StefABtv
5 жыл бұрын
If it was mine it would be lol 😂
@Eddie-gb3bn
5 жыл бұрын
I did something similar when getting my M2 Comp. 10K down-payment, owed around 44K @ 3.15%apr, 1K payments. Ended up paying right around 3K interest throughout the life of the loan. Why pay for the car full price in cash when the money is more useful for me today in my investments. My investments alone could end up yielding more that 3K throughout the life of my loan and I got it financed for free in the end. Hope that made sense.
@dlite1972
5 жыл бұрын
I really enjoy these kind of videos. A reality check when it comes to purchasing and running a sports car. £10000 deposit and £500+ p/m.... I'll pass 😮
@Patr1ck2332
5 жыл бұрын
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.
@StefABtv
5 жыл бұрын
That’s why I’ve decided to make the series. Trying to give some perspective of the costs involved.
@HK.Builds
5 жыл бұрын
@@StefABtv much appreciated
@dr.benjaminbird7631
5 жыл бұрын
@@Patr1ck2332 good luck getting a finance company to believe you can afford 740 a month without showing any form of deposit.
@Patr1ck2332
5 жыл бұрын
Benjamin Bird I have on my M3 and M6 GC . I never put a deposit down.
@sadiq5911
5 жыл бұрын
That intro was sick and this is only really an info video. Subscribed for more 👍🏼
@darrenlomax1283
5 жыл бұрын
The best deals are found when buying a month before the new car is launched. By then all the build issues are solved which proves for a better experience. I think.
@MrRoyck10
5 жыл бұрын
No thanks to buying a new car, I am waiting by the slow lane driving my NA BMW M. I hope those who are prepared to pay such outrageous amount are financially secured.Thats the amount I pay for my mortgage overpayment, how someone can splurge such cash on a liability is amazing. Nice content and thanks for educating me of how expensive it is to drive a new car.
@maxfrederick7703
5 жыл бұрын
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.
@kunamutas8941
5 жыл бұрын
I'll just buy a used one cash in a few years for half the money...
@k20ee96
5 жыл бұрын
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?
@maxfrederick7703
5 жыл бұрын
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.
@k20ee96
5 жыл бұрын
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 :)
@spicytortilla2239
5 жыл бұрын
It’s not buying the car that’s the issue, the issue is insurance. I’m 19 and so far I’ve traveled around 65,000 in the 2 years I’ve been driving, yet I am still considered a high risk inexperienced driver. So it’s not finance deals I need, it’s an insurance company that recognises me as an individual and basis my quote off of me and not the average.
@adr0110
5 жыл бұрын
Great Vid. I’ve always pcp’d but chose a lease, got the m2 with m plus pack for £444 with 4k down from V4B, as another option for people... Amazing car, just wish the weather improved!
@StefABtv
5 жыл бұрын
Thanks man. I’m sure the weather will improve over the next few months. For now enjoy sliding it 😂😂
@bobbobby4898
4 жыл бұрын
Haha got the same deal !
@omegaman.1595
5 жыл бұрын
I still prefer your red Merc. 😎
@Gattsu1986
5 жыл бұрын
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.
@celestialbeing290
5 жыл бұрын
Haha, merc is only pleasing to the eye but quality is poor. BMW is made proper for driving thrills
@Rami-pq1yj
5 жыл бұрын
I love your vids bro and specially on BMWs and great video with awesome cinematic shots even though I can’t buy a car at the moment lol.
@StefABtv
5 жыл бұрын
Thanks man. Appreciate it 🙌
@UgurcanSecgin
5 жыл бұрын
Magnitudefinance aren’t that great imo, got quoted £561.57 for a brand new A35 Premium Plus at 42,300. 5k depo 48months and 8,000 miles. However I purchased an A35 from Main dealer and I am going to be paying 440.20 a month on the same terms
@out_on_bail
5 жыл бұрын
6.8 is a horrible rate. If you look hard u can get 5 easy
@SiRasputin
5 жыл бұрын
Unfortunately, many young blokes will be getting into this vehicle spending most of their monthly pay. This vehicle is only for rich guys with around 1000 pounds to throw away a month. Imagine the wealth you could create if you invested that 600 to 1000 pounds every month into some assets like shares or property rather than in a depreciating motor vehicle.
@StefABtv
5 жыл бұрын
Wise words here
@jacktaylor7319
5 жыл бұрын
Tell me how you invest 600 into properties
@SiRasputin
5 жыл бұрын
@@jacktaylor7319 read my post.. I said save 600 quid per month, not buy 600 properties. Just start with one property or buy some shares
@101TheKMan
5 жыл бұрын
Very interesting. Great breakdown
@StefABtv
5 жыл бұрын
Thanks Kyle 🙌
@amarillorica
5 жыл бұрын
Get that insurance clause where if you total your car they reimburse your down payment.
@kevinb.3656
5 жыл бұрын
Would you guys trade a really nice 08 mustang GT for a new M2?
@marekplesingr5744
5 жыл бұрын
I'm not wrong if I write, that this is one of the M which will have still good value.
@swb7161
5 жыл бұрын
I’m sorry but these indicative figures are so far out. This is clearly magnitude finance and I’m sorry the calculator they have is terrible. Go to a main dealer groups, have a chat and explore the deals they have, some are so bloody good you’ll choke. I drive a brand new M4 Comp for less than then quoted figures above. DO YOUR HOMEWORK LADDY. Ps. Top content 😘
@StefABtv
5 жыл бұрын
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.
@swb7161
5 жыл бұрын
Stef ABtv I feel bad for commenting now 😞
@danielgurney501
5 жыл бұрын
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
@Bryan-fg3ey
5 жыл бұрын
Please help me understand a " balloon payment?" Is this,assuming the miles are at or under the allowance and the car with acceptable wear and tear, the minimum amount the car would be worth ? So meet the above criteria and you hand the car back and walk away.
@liamfurlong2513
5 жыл бұрын
Wouldn't a new one be cheaper? You will be getting used car apr which will be higher 650 a month with 10k deposit seems loads..didn't realise these were so much more than the previous M2
@dr.benjaminbird7631
5 жыл бұрын
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?
@liamfurlong2513
5 жыл бұрын
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
@andywmoffat
5 жыл бұрын
6.8% APR LOL you would have to be mad. You can get an M4 CP on 1.9% APR and in some cases 0% APR. Small deposit + low APR = win.
@tjtalks5240
5 жыл бұрын
I would be interested to find out where this deal is available and whether this is buying brand new or used ?
@sadiq5911
5 жыл бұрын
Whos giving 1.9% on an M4?
@andywmoffat
5 жыл бұрын
sad iq Google’s your friend! Stacks of 0% offers over the last 12 months
@UgurcanSecgin
5 жыл бұрын
TJ Talks it’s from a finance company named magnitude finance, Paul Wallace advertised them as well
@suricateenerve165
5 жыл бұрын
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.
@Luuuugn
4 жыл бұрын
not much car for the money if you ask me, my friend got on and sure its fun... like a bigger gokart but otherwise nothing
@jacksavvides2339
5 жыл бұрын
get the best quote from carwow and then use that for a vid. Much better idea.
@Antoine_Collignon
5 жыл бұрын
Sick intro bro
@StefABtv
5 жыл бұрын
Thanks mate!
@celestialbeing290
5 жыл бұрын
Should sell the amg45 and move on to s BMW for drivers car and tell you this the BMW is well padded for quality compared to merc
@StefABtv
5 жыл бұрын
Yeah the M2 is such a great car. Got an A45 vs M2C vid coming soon 🙌
@celestialbeing290
5 жыл бұрын
Stef ABtv I'm looking forward to it :)
@theforeignatics9798
5 жыл бұрын
I wish I could do that and upgrade my 335i to make fire videos 🔥
@rusolinio121
5 жыл бұрын
Your car will smoke this m2 with full bolt ons and hybrid turbos for well under the 10K deposit. Smoke it badly too.
@theforeignatics9798
5 жыл бұрын
rusolinio121 yeah true I made a video on my car
@jacko9739
5 жыл бұрын
If you don’t give the car back to the finance company you can do as many miles as you want 👍
@darrenlomax1283
5 жыл бұрын
People in debt work harder for less money. We've been encouraged to feel if we aren't as good as the next guy then we're shit.
@dalton2181
5 жыл бұрын
Correct terminology here is leasing the car not financing
@i5h4ne83
5 жыл бұрын
Or wait 4 years and buy one for 20k
@StefABtv
5 жыл бұрын
Don’t think they will drop that low? 30’s maybe
@marked_one
5 жыл бұрын
And what? Get a car that someone else already run into the ground before you?
@steerj07
5 жыл бұрын
'Just wait 4 years' - lol
@gassx7778
5 жыл бұрын
M2C > M3/M4
@xMaSHZzZ
5 жыл бұрын
What website do you use to check on these finance deals?
@Andymcnnab
5 жыл бұрын
Looks like magnitude
@Jamie-kf2vf
5 жыл бұрын
£3k deposit and £393 a month for a 2 year leaae with some options.
@ChipZilla69
5 жыл бұрын
I find the seats are too narrow in the AMG for my fat ass. Also the air vents look amazing in video's but when you touch them it's cheep plastic. BMW interiors look more dated but feel better to the touch.
@AF-nf4yf
5 жыл бұрын
6.8%🤤
@alxforth1
5 жыл бұрын
What brand phone mount do you use?
@StefABtv
5 жыл бұрын
Megamounts 🙌
@44_Mark
5 жыл бұрын
Not first
@StefABtv
5 жыл бұрын
Mark Stone nearly 😂
@STEVEBHPDEVON
5 жыл бұрын
The m2 comp is very nice 👍 the thing about pcp I don't get is the future price, the m2 comp will never get as low as 25k, brilliant vid stef 👍
@Patr1ck2332
5 жыл бұрын
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.
@nurburgringuk
5 жыл бұрын
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!
@Patr1ck2332
5 жыл бұрын
nurburgringuk love your video with Moran! Making my potential move from my e92 M3 to an M2 easier!
@nurburgringuk
5 жыл бұрын
@@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 ;-)
@Patr1ck2332
5 жыл бұрын
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.
@t1000eg
2 жыл бұрын
I need a new job
@SassyOnline
5 жыл бұрын
Think anyone who could afford £10K deposit could probably just afford to buy the fucking car.
@StefABtv
5 жыл бұрын
Lol it’s an extra 40k extra though? May want to use that money elsewhere?
@SassyOnline
5 жыл бұрын
@@StefABtv anyone with £40k just sitting there isn't exactly going to be the person to save their money
@matthewball7357
5 жыл бұрын
Ive got mine on a 24 month lease. 6k Deposit and £371 a month. Bargain :P
@StefABtv
5 жыл бұрын
Awesome deal 👏
@matthewball7357
5 жыл бұрын
@@Patr1ck2332 why not? I could have put nothing down but monthly payments were far higher. I prefer to keep my monthly payments down.
@Patr1ck2332
5 жыл бұрын
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!
@matthewball7357
5 жыл бұрын
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 😭😭
@Patr1ck2332
5 жыл бұрын
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 👍🏼
@fireblade8905
5 жыл бұрын
Not a family car
@dunnaredside8460
5 жыл бұрын
Dude. Name the songs you use. 😓
@ZingerTower
5 жыл бұрын
I went to my local BMW dealer in Wolverhampton and got much better monthly/deposit figures. Why aren’t they shown on this video?
@StefABtv
5 жыл бұрын
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 KZitem video lol!
@boxingfan4420
5 жыл бұрын
if you cant afford to buy full price CASH ,then you are not to buy it. dont bury yourself in payments!!!
@sadiqdani9705
5 жыл бұрын
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
@Goshi89
5 жыл бұрын
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
@s44yyr
5 жыл бұрын
@@Goshi89 it would require brains to think like that. Most people do not have them
@andywmoffat
5 жыл бұрын
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
@maxfrederick7703
5 жыл бұрын
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.
@ElephantWhisperer222
5 жыл бұрын
You’re wealthy and choose an M2.. bruh smh
@rjd592
5 жыл бұрын
Conner Cox who says he is wealthy? He has 14k subs lol
@ElephantWhisperer222
5 жыл бұрын
rjd592 i didn’t say he was wealthy from KZitem lmao obviously that’s not the reason why he has money for these cars.
@kinetickhaos9993
5 жыл бұрын
Bruv you clearly know nothing the m2 Compition is an absolute weapon has same engine as the m3 ANd m4
@Rami-pq1yj
5 жыл бұрын
First
@StefABtv
5 жыл бұрын
MSH R in there lad 👏👏
@chrisantinoro2641
5 жыл бұрын
Basically pull your trousers down or Unless bank of mum and dad are available. BMW=Over priced Wank.
@Anthfigueroa
5 жыл бұрын
I'm sorry you have no money.
@TheJPHarvey
5 жыл бұрын
@@Anthfigueroa 100% thinking the same. Guy is clearly jealous of people with good careers
@theforeignatics9798
5 жыл бұрын
I wish I could do that and upgrade my 335i to make fire videos 🔥
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