BMW Interest Rates

Bob

Bob

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Looking at getting a new bike, but BMW finance as suggesting interest and finance charges of just short of £2000 against less than £6000 borrowed (£3000 deposit) over 3 years. They are quoting 14.5% APR
Any one know of a better deal ? This seems a little excessive...........
Bob
 
BMW will do 9.1% if you push them hard enough. 14% is well rich.

At least they did a few weeks ago for me.
 
Robbery....you should with a good credit rating get a personal loan between 8&9%

Total charge on 6k should be less the £800 over 3 years.

If your credit rating is poor.....the rates can go up....

BMW finance are chancing it......
 
The APR% is very much dependent on how much is being spent.

Here are 3 quotes I had from BMW based upon the cash price (incl VAT) on the left and over 3yrs:-

1) £8,161 = 13.9% - Interest charges = £1,913.04
2) £8,334 = 13.8% - " " = £1,987.44
3) £12,485 = 9.6%-" " = £2,420.62
 
For a relatively low sum like £6k you can get lower rates by using credit cards - first year or more at 0% then switch the debt to another card.

Of course, you need a decent credit record and the discipline to pay off the debt.

Useful info here http://www.moneysavingexpert.com/loans/plastic-loans

I did this when I bought my R-GS in 2001. Paid cash for the S10 though :)
 
Try your bank first, see what rates they will give you.
Loan from Santander in Oct 7.4 % , shop around bud agree with Twizel on rates.
Good luck, Stu
 
I financed my triple black with a 6.1% loan from sainsburys on a pre reg bike 0 miles with £3000 deposit.
 
Thanks for all the replies, managed to get 0% for 22 months for £174 on Barclaycard ! That should hit the mark!
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
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