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Old 08-21-2013, 03:32 AM   #1
mmoore89 OP
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BMW Finance UK

Hello all,

I have been a bit of a lurker for most of my time here, but finally I have managed to get some money and organise my brain to decide what bike Im getting.
So I want to get a F800GS, (KTM nearly took it!) and Im looking to get a bike from the BMW approved used range.
The bike I want is going to be 6500 give or take, and Im going to need finance to buy it.
I was wondering if anyone has any experience with BMW finance and can tell me what kind of terms I will get for this? What is the general amount for deposit and monthly payments etc? What is the interest rate? Good experiences bad experiences etc.
Hope that someone can help. (Preferably someone from the UK as Im assuming that it varies a lot from country to country).
And before someone tells me to call the dealership and ask I have tried but currently the finance companies phone system is offline and they are uncontactable and the dealership itself say they cant give me any information.

Hope someone knows something about this!

Thanks for any help.
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Old 08-21-2013, 09:44 AM   #2
Wildman
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I dealt with BMW Finance back in 2004 for a car and thought it was pretty good but no recent experience.

There's an example of the "Select" option on their website although it's for an R1200GS:

36 months 149.00
On the road cash price** 12,665.00
Customer deposit 1,668.00
Dealer deposit contribution 1,000.00
Amount of credit 9,997.00
Fees 150.00
Optional final payment 6,927.47
Representative 9.4% APR
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Old 08-25-2013, 09:36 PM   #3
Emperor Norton
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Quote:
Originally Posted by mmoore89 View Post
Hello all,

I have been a bit of a lurker for most of my time here, but finally I have managed to get some money and organise my brain to decide what bike Im getting.
So I want to get a F800GS, (KTM nearly took it!) and Im looking to get a bike from the BMW approved used range.
The bike I want is going to be 6500 give or take, and Im going to need finance to buy it.
I was wondering if anyone has any experience with BMW finance and can tell me what kind of terms I will get for this? What is the general amount for deposit and monthly payments etc? What is the interest rate? Good experiences bad experiences etc.
Hope that someone can help. (Preferably someone from the UK as Im assuming that it varies a lot from country to country).
And before someone tells me to call the dealership and ask I have tried but currently the finance companies phone system is offline and they are uncontactable and the dealership itself say they cant give me any information.

Hope someone knows something about this!

Thanks for any help.
They were easy as pie for a new bike (And lower rates than other lenders). However I've heard that if the bike is used their rates will go up a few points.
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Old 08-25-2013, 10:14 PM   #4
ssray
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You can get a lot lower finance through one of the supermarkets or even the old bank way
Ray
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Old 08-28-2013, 06:55 AM   #5
skysailor
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Albeit, I'm in Canada, but the rate I got was very low. Total finance charge over 48 months is, like $303! That's almost free money.
Lyle
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Old 08-28-2013, 06:57 AM   #6
Loutre
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Originally Posted by skysailor View Post
Albeit, I'm in Canada, but the rate I got was very low. Total finance charge over 48 months is, like $303! That's almost free money.
Lyle
wow that is low
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Old 09-06-2013, 08:04 AM   #7
Pampera
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Watch out for any finance agreement that only gives you an 'option to buy' at the end.

If you decide not to buy then you may find you end up paying them extra after they take your bike away because it has done more than 1000 miles a year, or the tank is scuffed or whatever.

Personally, I wouldn't enter into any of these lease/hire/buy agreements unless I were a business, in which case their cost can be offset against tax.

First option: Only buy with what you can afford to pay...don't borrow to fund the purchase at all.

Second option: Straight repayment loan or hire purchase. Get quotes from at least three finance providers. Read and understand the small print.

Buying new on finance you get stung twice. Once by massive depreciation as soon as you do the deal and again by the extra money that you borrow to buy a new bike.

Buy second-hand and smile...you can travel miles on the money you save, or buy your nearest & dearest something nice.
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Old 09-12-2013, 06:44 AM   #8
wheatwhacker
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Quote:
Originally Posted by Pampera View Post
Watch out for any finance agreement that only gives you an 'option to buy' at the end.

If you decide not to buy then you may find you end up paying them extra after they take your bike away because it has done more than 1000 miles a year, or the tank is scuffed or whatever.

Personally, I wouldn't enter into any of these lease/hire/buy agreements unless I were a business, in which case their cost can be offset against tax.

First option: Only buy with what you can afford to pay...don't borrow to fund the purchase at all.

Second option: Straight repayment loan or hire purchase. Get quotes from at least three finance providers. Read and understand the small print.

Buying new on finance you get stung twice. Once by massive depreciation as soon as you do the deal and again by the extra money that you borrow to buy a new bike.

Buy second-hand and smile...you can travel miles on the money you save, or buy your nearest & dearest something nice.
I second the motion.
I bought new in the past, mainly because the used ones were not available. The pain of paying lingers a lot longer then the joy of buying.
A BMW is not the only bike on the planet. There are plenty of better alternatives from the Japan stable and a lot more reliable. I understand that you are trying to portray a picture of being well off by riding "the ultimate riding machine" but, racing home on a Sunday night to get back to work on Monday to make the payment on a bike you owe more than it's worth is not a fun or practical.
When I lived in the USA, any of the big meets I went to, the BMW guys were the first to leave to get home to the mansion so they could rise early and get to work fresh. It was usually the newer bikes first. The last guys to leave were the KLR guys, some of whom did not care if they ever got home...
If you only have 1,500 pounds, buy a 1,500 pound bike.
I have had guys leave here with 1,500 euro Transalps and touring Europe for months without any issues.
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Old 10-03-2013, 08:26 AM   #9
Eyore
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Quote:
Originally Posted by wheatwhacker View Post
I second the motion.
I bought new in the past, mainly because the used ones were not available. The pain of paying lingers a lot longer then the joy of buying.
A BMW is not the only bike on the planet. There are plenty of better alternatives from the Japan stable and a lot more reliable. I understand that you are trying to portray a picture of being well off by riding "the ultimate riding machine" but, racing home on a Sunday night to get back to work on Monday to make the payment on a bike you owe more than it's worth is not a fun or practical.
When I lived in the USA, any of the big meets I went to, the BMW guys were the first to leave to get home to the mansion so they could rise early and get to work fresh. It was usually the newer bikes first. The last guys to leave were the KLR guys, some of whom did not care if they ever got home...
If you only have 1,500 pounds, buy a 1,500 pound bike.
I have had guys leave here with 1,500 euro Transalps and touring Europe for months without any issues.
I have no axes to grind ,but if the guy has given the matter some thought and decided its between a BMW and a KTM , finally deciding on the BMW what makes you think he would be even remotely interested in an old Transalp. There is always someone who knows better than you what bike you should have The way you are talking bike design has turned regressive. I know I prefer to cross Europe on any 5 year old bike than on a 15 year old Transalp, why stop there lets all buy BSA singles.
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Old 10-04-2013, 01:59 PM   #10
wheatwhacker
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Quote:
Originally Posted by Eyore View Post
I have no axes to grind ,but if the guy has given the matter some thought and decided its between a BMW and a KTM , finally deciding on the BMW what makes you think he would be even remotely interested in an old Transalp. There is always someone who knows better than you what bike you should have The way you are talking bike design has turned regressive. I know I prefer to cross Europe on any 5 year old bike than on a 15 year old Transalp, why stop there lets all buy BSA singles.
I was just stating that borrowing money for a motorcycle is not a wise move.
Anyway, I'm a Varadero fan myself. The travelers like the transalps because they are cheap and disposable.
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Old 10-11-2013, 06:35 AM   #11
lipsee
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I,m with mr wacker on this,,spend what you have got now,,,and then save for your next sickle...Try not to be in hock to the banking bastards... they onkly grow rich on your back,,,all the best
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