subevo

Hi folks
I'm thinking of buying a bmw i3 .cost approx £30000.
I've always got a personal loan previously when buying a car.

I'm not sure to do a PCP or a lease as I don't want to use all my savings to buy outright.
Bmw are offering finance at 7.2% and non negotiable. I can get a personal loan for 4%.

Any advice appreciated.

jasey

It's all down to your personal circumsatances and how long you intend keeping the car (and what you think will happen to the i3 in terms of depreciation).

This lays out the options quite well;

https://www.moneyadviceservice.org.u...e-buying-a-car

Personally I wouldn't buy a car outright - but that's because I usually get bored after 2 years (max ).

billythekid

Speak to Oracle Finance or Mann Island Finance. Both use Braclays and will be able to beat that BMW rate easily.

PCP will always have a higher APR as it gives you quite a lot of flexibility so you have to pay for that.

IME in the last 2 years dealers are no longer bothered about offering good rates - they are quite happy to let you use an outside company. In years past they would do anything to keep you in one of their products.

My only concern is we have yet to see what re-sale is like on EVs. That would worry me. I am considering a Tesla Model S - but again resale is my worry. Will there be demand? Whats the depreciation going to be like...

"Normal" cars are fairly easy to predict - but EVs are so far untested...

jasey

Saw somewhere that the batteries need replacing every 5 years or so and it would be £7-10k (and that was for some Prius type ****e).

I'd be getting someone else to take the gamble on depreciation if I were you .