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BMW 3-Series (E90 E92) Forum
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Cracking M5 Lease Deal Available!!
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01-06-2013, 12:16 PM | #45 | |
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Quote:
A number of things to consider; if you contract hire a car and the finance company is Mercedes Corporate, it's likely the car will be hired under what's known as an operating lease, which will include RFL only for year one. Most other finance companies include RFL for the duration of stewardship - this is something you need to check out. Factoring this in (if it isn't already included) will obviously make a difference to your monthlies. GAP is also essential. Again, as per my circumstances (with Merc Corporate supplying the car) in the event of a total loss the lease contract demands that Mercedes are paid MV for the car (which my fleet insurance will cover) and 100% (yes, 100%) of the remaining monthly payments. So, under these conditions, had I been unlucky enough to have 'my' car written off on day one of 'ownership' my insurance company would have had to pay £50-odd grand and I would have needed to have found 35 * £750+VAT (£31,500) - as such, GAP is utterly essential and I have this sum fully covered (on a diminishing basis). I have mine through ALA and most people on here with GAP will be the same; utterly affordable and an excellent policy. Final thing - damage on returning cars; Mercedes are notorious hard-asses about inspection of damage to a car being returned. Make sure the car is factory-condition (or better, if possible) to guarantee avoiding charges. Everyone else adheres to BVRLA standards for damage on return, which is a lot more fair in its approach.
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325i M Sport (E92), Black Sapphire, Coral Red Dakota, 19" 225's, Seat Heating, 6FL and de-badge Replaced by 6.2 litres of AMG powered C class. |
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01-06-2013, 12:32 PM | #46 |
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I have Gap on both our cars and the are on pcp, its just not worth the risk!! Both policies were bought through the dealer, at first their price is silly but if you are up front and just tell them that you will buy it but at such a price they normally do it. Porsche wanted £700 and I got it for £399, I am sure I could have got it cheaper but I like having it done through the dealer.
The m5 deal is a lease so to hand it back early you will have to pay the remaining monthly left on the agreement. So if you were 12 months in you would have to give them 24 months payments. |
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01-06-2013, 12:35 PM | #47 |
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I recall paying between £200-300 for mine via ALA
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Gone but not forgotten:
325i M Sport (E92), Black Sapphire, Coral Red Dakota, 19" 225's, Seat Heating, 6FL and de-badge Replaced by 6.2 litres of AMG powered C class. |
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01-06-2013, 12:50 PM | #48 |
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Just found my policy, £249 incl. IPT
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325i M Sport (E92), Black Sapphire, Coral Red Dakota, 19" 225's, Seat Heating, 6FL and de-badge Replaced by 6.2 litres of AMG powered C class. |
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01-06-2013, 01:23 PM | #49 |
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I paid £6 a month for Return To Invoice through Lombard on £35000 with a shortfall of up to £20,000 over 36 months.
Monthly works out great if you are leasing and may terminate early, on a contract hire though just go with the cheapest you can find online that covers you properly. I would guess on an M5 you could be up to £25,000 short during the early stages. |
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