BMW long-term rentals now offered in South Africa

[bromster]

What an absolute debt trap. They should be ashamed of themselves.

Nothing more than a car allowance cash grab.

Disgusting

 

[Brawler]

WBC?

We Buy Cars.

 

[PhreakBoy]

What an absolute debt trap. They should be ashamed of themselves.

Nothing more than a car allowance cash grab.

Disgusting

Could you walk us through your logic?

 

[Lupus]

Aren't residuals long term rentals??

 

[quovadis]

Aren't residuals long term rentals??

Nope

 

[quovadis]

Besides this being pretty much a finance deal in the dealer's favour herein lies the rub "Provided that there is no damage beyond fair wear and tear or excess mileage, there will be nothing more to pay, but if something must be repaired it will come out of the driver’s pocket."

That tiny ding is gonna cost you a new door and paint job. Good luck in arguing that repair quote.

 

[Nerfherder]

On the 320i you're looking at R18,894 per month for a 1yr/20,000km lease or a total annual cost of ownership of R226,727.

Let's assume insurance is R1,000 per month or R12,000 per annum, reducing the cost of ownership to R214,000.

New price on that vehicle is R829,000. Would the depreciation in 1 year be more or less than R214,000?

Looking on cars.co.za - you can find 2021 models for around R700,000 (meaning the person that traded it is possibly got around R650,000) which implies a cost of ownership of R179,000 per annum.

So, I think there is some merit in going the long term rental route.

Does anyone know what the VAT implication is? Can you claim back 15% on that R18,894?

Insurance is probably 6k

 

[Dan C]

I think Merc's Agile offers are better.

 

[ProfA]

So this is the new scam since even residuals don't make cars affordable enough for the live above their means type.

 

[rietrot]

Insurance is probably 6k

Are all you guys under 25 and only had a license for a year or something?

 

[AfricanTech]

hulle is mos lekker jus

Damn, lease a car and have nothing to show for it at the end - I'd have to be living in the damned thing to justify paying that.

 

[Nerfherder]

Are all you guys under 25 and only had a license for a year or something?

No... but Its a R800k vehicle....

 

[Crowley]

No... but Its a R800k (some might call them high performance) vehicle....

FTFY

 

[quovadis]

No... but Its a R800k vehicle....

An OK car insurance premium would be around 0.20-0.25% per month of the value of the vehicle with a 5% excess for age 30+ with a decent 5 yr or so No-Claim history. Less if your policy is linked to a low risk or shared risk portfolio of people.

 

[Pho3nix]

Insurance is probably 6k

For the year or the month?

No... but Its a R800k vehicle....

No, insurance is around R1.4k for a 800k car. Unless you drive into everything.

 

[quovadis]

For the year or the month?

No, insurance is around R1.4k for a 800k car. Unless you drive into everything.

By the looks of things people must be paying a fortune for insurance. Guess it pays to have a decent broker

 

[quovadis]

I think Merc's Agile offers are better.

They're essentially the same thing with slight variation.

 

[Harmonic]

Meh, my M6 gran coupe CS cost me around 15k a month ex insurance. Nothing there worth even considering really.

 

[azbob]

Who only drives 20k km a month?

Rent me a car I can drive, not a car that must be parked most of the year.

I guess this is how they catch you. After you've driven more that the allowed kilos, they change it to a traditional finance deal or they have a huge pay in penalty to get out of the rental deal.

Yes, I mean 20k km per year.

I drive about 4k to 6k km per month. Wife less that 1k km per month.

Your own wife drives less than 20k so why did you even ask that?

 

[Pak Fa Fui]

How does it compare to other rental companies