Residual

Whoa! That car is WAAAY overpriced to start with.

http://johannesburg.gumtree.co.za/c...i-E46-Steptronic-Champagne-W0QQAdIdZ435159397
http://johannesburg.gumtree.co.za/c...00-BMW-318i-E46-Manual-Red-W0QQAdIdZ435160427

Both less mileage, both over 20k cheaper! I'm not saying it's a bad car, BMW's can generally get up to 500,000km without any hiccups, BUT this is the 318i, a very small engine compared to the average BMW. So you might not expect such good mileage out of it.

With regards to residual, don't be ridiculous. You're better off financing a car like that through a personal loan or from a friend. Keep in mind, if you and your partner are not mechanically minded, you will pay through your ass for services/maintenance.
 
Out of stupidity & experience, I can tell you DONT DO IT!

My Second car was a Velocity 1.4i brand new 2005 and i had a 30% baloon on it with 21% interest over 5 years, When i got it the first few months was really nice to have and the 30% didnt bother me at all, after about 3 years, I got gatvol of it and wanted to trade, but because of the 30% i still owed too much on it,and would have lost, after a while it bothered me so much that i
ended up buying a cheap 20K opel kadet just to get out of the deal, once i paid off the kadet and the residual loan in a couple of months i sold it for the same price and then bought another vehicle.

7 years with residual, is total madness! If i had the city on 7 years plus residual I would have still had to pay for it till now and then still owe 30% on it!

Since 2005 i had a Nissan hardbody 3.3V6, Jeep Wrangler TJ 4L, and currently a Jeep wrangler JK Rubicon 3.8V6
and i'm fine.

BUT
If only i kept the first citi 1995 1.6 i would have been able to pay of the Jeep Wrangler 3.8v6 off by now.
The Jeep is my ultimate 4x4 i have ever wanted.

and i could have now focused on buying a house, instead of spending money on an installment + extra payments to get it paid off.

Its amazing how many years a car can put you back.

Please dont do it!, 5 years at most 12% interest and no other scams like residuals ect ect.
 
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zizo911 you say the car comes with a 2 year warranty so my question is what exactly does the warranty cover? Has the dealer given you written confirmation as to what it will cover? What happens after 2 years when the warranty expires and due to age and wear and tear a major component or part needs replacing? Spares on BMW's are NOT cheap.

What about services? With no service plan you'll be paying cash for services and I'm sure many forum members will tell you just how much a standard service (not even talking major service here) on a beemer is going to cost you.

Also why does it have to be a German car i.e. BMW, Audi or VW? Why not look at other better value for money options? Hyundai? Kia? Honda?

I think you should take everyone's advice and do a bit more shopping and consider alternative options.
 
HiToKiRi said:
zizo911 you say the car comes with a 2 year warranty so my question is what exactly does the warranty cover? Has the dealer given you written confirmation as to what it will cover? What happens after 2 years when the warranty expires and due to age and wear and tear a major component or part needs replacing? Spares on BMW's are NOT cheap..
Click to expand...


BMW spares are only expensive if you buy them at a BMW stealership. ;) This two year cover is probably something along the lines of Motorite/Motocare.
 
zizo911 said:
Nope :p Heart set on a BMW :love:
Click to expand...

I'm going to smile when you have to replace the hoses on your first service. R8k right off the bat. :)

There's a definite reason why they sell BMW's cheap as chips as soon as they're out of motor plan. But ok, do what you enjoy - you'll join your SO being blacklisted before you know it.
 
Just go ahead and buy it, then in a year or so from now you can warn others not to make the same mistake.

How do you even contemplate financing a twelve year old car over seven years with residual? Doesn't it just seem crazy?
 
Voicy said:
I'm going to smile when you have to replace the hoses on your first service. R8k right off the bat. :)

There's a definite reason why they sell BMW's cheap as chips as soon as they're out of motor plan. But ok, do what you enjoy - you'll join your SO being blacklisted before you know it.
Click to expand...

Why is everyone always quoting the BMW dealership prices? :rolleyes: He who takes his car (ANY brand) that is out of warranty to the dealership for service/repairs deserve to be assraped by them. ;) I thought this was common knowledge. But the 7 years with residual...no thanks!
 
Ok guys, we will be giving a deposit towards and then take it off a shorter period, without residual. Called Velocity, but they don't want to accept a deposit :wtf:
My SO uncle has a BMW workshop so yea, parts aren't a problem.
 
zizo911 said:
Ok guys, we will be giving a deposit towards and then take it off a shorter period, without residual. Called Velocity, but they don't want to accept a deposit :wtf:
My SO uncle has a BMW workshop so yea, parts aren't a problem.
Click to expand...

So just put the money you were going to pay as a deposit into the finance account. And about the workshop...hook a brother up man! :D
 
Slootvreter said:
So just put the money you were going to pay as a deposit into the finance account. And about the workshop...hook a brother up man! :D
Click to expand...

HaHa! We need to get the car first :erm:

Last Q, How long will the E90 engine last? :)

Thanks For all the advice and help guys, MYBB is really the place to get info about anything.
 
that bolded, italicised and underlined bit there... it's not a word. you just brought a lot of attention to a spelling error!
 
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