[MileCruncher]

This seems to be the Balloon Payment system wherein you are paying 4.6 L on the last EMI. I also read somewhere that BMW is planning to introduce leasing options wherein you keep the cars for 3/5Years for an EMI and at the end of term, you either have an option to buy it by paying the calculated value or the car goes back to the manufacturer for selling in refurbished category.

[GTO]

Originally Posted by ajmat

So one is talking about 10L over the list price over 5 years. Pre worshipped Highline cash down makes sense

You can say that again, Ajit. The best part about the luxury segment expanding, is a wider choice for us deal-lovers in the next 2 - 3 years. Forget the 3, you could get a 530d for less than 20 lakhs in 2 years. And with German cars aging as slow as they do, "pre-worshipped" is clearly the choice for informed enthusiasts.

Originally Posted by MileCruncher

I also read somewhere that BMW is planning to introduce leasing options wherein you keep the cars for 3/5Years for an EMI and at the end of term

I love leased. Reasons:L

- Zero down payment
- Fixed monthly payment with tax benefits (for entrepreneurs & businessmen. Deduct from profit as cost and save 30%).
- During the lease tenure, everything related to the car's maintenance is the leasers headache (read = BMW)
- Buy at slightly below market price rate at the end of tenure

Full Lease Article here

[ashthedivx]

Originally Posted by GTO

You can say that again, Ajit. The best part about the luxury segment expanding, is a wider choice for us deal-lovers in the next 2 - 3 years. Forget the 3, you could get a 530d for less than 20 lakhs in 2 years. And with German cars aging as slow as they do, "pre-worshipped" is clearly the choice for informed enthusiasts.

With such pricing and offerings I am for-sure targeting a german car in my car shopping i.e. 5 years down the line.

[esteem_lover]

Yes, these ad terms are absolutely misleading. For e.g, in home appliances stores, they say 0% finance, what does that mean ? You can only pay full cash ?

Originally Posted by ajmat

Pre worshipped Highline cash down makes sense

'Pre-Worshipped". I like that.

[rowhun]

Originally Posted by AlokSriva

As I mentioned earlier, Now time for quick back-of-the envelope calculations -

59 EMIs = 25,333*59 ~= 14,95,000
60th EMI ~= 4,60,000
Down Payment ~= 12,50,000

Total ~= 32,00,000

Ex-showroom price ~= 24,00,000
Loan amount = 24,00,000 - 12,50,000 = 11,50,000
Difference (Interest Paid) for 5 years ~= 8,00,000

How on earth would this to be a zero % scheme? I am sure the sales person would have given your friend the usual marketing mumbo jumbo

But if you actually compare it with a regular EMI scheme, it isnt that much more that you are paying.

Consider this:
Downpayment : 12.5 lacs
Interest rate: 10%
EMI:31,067 over a tenure of 60months.

So total payout is 12.5lacs+(31067*60=18.9lacs)= 31.4lacs. which is pretty much the same. And if you think its a better idea for you to go with lower EMIs now and can pay a lumpsum of 4lacs after 5 years, i thinks its a great option. It brings the dream closer to that many more people, those who can buy on lower EMIs now and are sure they can afford to pay after 5 yrs. a 50k premium is hardly much.

[sriramv.iyer]

Kun Hyundai Chennai has a better scheme!

You can opt for 13L Downpayment and a monthly EMI of 19,999. Every 12th EMI is 99,999. (for 7 yrs)

Not bad at all.

There is another scheme where you do 5L Downpayment and pay 24K pm and 1,46,000 every 12th EMI (for 7 yrs) [Assuming reg is done in Pondy, shaving 3-4 L off OTR]

[rowhun]

Originally Posted by sriramv.iyer

Kun Hyundai Chennai has a better scheme!

You can opt for 13L Downpayment and a monthly EMI of 19,999. Every 12th EMI is 99,999. (for 7 yrs)

There is another scheme where you do 5L Downpayment and pay 24K pm and 1,46,000 every 12th EMI (for 7 yrs) [Assuming reg is done in Pondy, shaving 3-4 L off OTR]

KUN BMW you mean?
Any idea if this offer is applicable over all the BMW showrooms across India? I am keen on buying one, and this scheme makes it perfect.
Is it available in Delhi?

[sriramv.iyer]

Originally Posted by rowhun

KUN BMW you mean?
Any idea if this offer is applicable over all the BMW showrooms across India? I am keen on buying one, and this scheme makes it perfect.
Is it available in Delhi?

My bad! It is Kun BMW! Heard that the scheme is from BMW. So, it might be available in Delhi too. If you want, I can PM you the number of the contact in Chennai that I have - Pretty good guy!

[rowhun]

Originally Posted by sriramv.iyer

My bad! It is Kun BMW! Heard that the scheme is from BMW. So, it might be available in Delhi too. If you want, I can PM you the number of the contact in Chennai that I have - Pretty good guy!

Sure, thanks. That would be great.

With both these schemes though, we would end up paying close to 34-35lacs over a 7-yr period.
I will check with my friends in Delhi and then post as to what the scene in Delhi is for such schemes.

[issigonis]

Originally Posted by GTO

You can say that again, Ajit. The best part about the luxury segment expanding, is a wider choice for us deal-lovers in the next 2 - 3 years. Forget the 3, you could get a 530d for less than 20 lakhs in 2 years. And with German cars aging as slow as they do, "pre-worshipped" is clearly the choice for informed enthusiasts.

>>>
GTO,
I am salivating.
A certified by BMW low odo second hand (pardon for being old fashioned) 5 with an inline six would be perfect. If BMW's finance arm is game for financing such steeds then nothing like it.

Of course such drivers' cars are to be used only during weekends and holidays and not for the everyday crawl through our rubble and traffic choked streets.

Jaguar will likely be left behind in the Teutonic slipstream; but their benchmark is not the Teutons anymore it seems, but the venerable Bentley.

Regards

[GTO]

Originally Posted by issigonis

A certified by BMW low odo second hand (pardon for being old fashioned) 5 with an inline six would be perfect.

Most 530d's are already exchanging hands at 25 lakhs. I don't suppose its too long before they hit the sub-20 levels.

If BMW's finance arm is game for financing such steeds then nothing like it.

Interest rates will still be high. Best to either buy the car outright, or make the largest downpayment possible.

Of course such drivers' cars are to be used only during weekends and holidays and not for the everyday crawl through our rubble and traffic choked streets.

I would completely disagree with this statement. German diesels are, in fact, supposed to be used as much as you can. I never even think twice before taking the 220 out. The higher the miles, the better.

[issigonis]

Originally Posted by GTO

Most 530d's are already exchanging hands at 25 lakhs. I don't suppose its too long before they hit the sub-20 levels.

>>>

Are they being certified by BMW as they are by Mercedes?

Originally Posted by GTO

I would completely disagree with this statement. German diesels are, in fact, supposed to be used as much as you can. I never even think twice before taking the 220 out. The higher the miles, the better.

>>>
I spoke from the context of usage as a second car; an inline six (with say 350Nm + torque) and heavy steering at slow speeds won't be very delightful to drive on Bombay's suburban roads.

Regards

[keen.to.know]

[quote=sriramv.iyer;2093825]Kun Hyundai Chennai has a better scheme!

You can opt for 13L Downpayment and a monthly EMI of 19,999. Every 12th EMI is 99,999. (for 7 yrs)

Not bad at all.


The Times of India, Pune edition has an ad for this 20k EMI today, so seems as if the scheme is available across the country. This is definitely making me evaluate the option of looking at a BMW now, instead of pushing it out by a couple of years.

Had an option of a "pre-worshipped" 2007 model 325i, but had not pursued it assuming that the TCO (Total cost of ownership) might be too high.

[GTO]

Idiot's guide to "SCHEMES": Now, this may seem fairly obvious, nevertheless : Whatever the scheme on a 30 lakh rupee car, you will end up paying 30 lakh rupees + interest at the end of it. There's no cheap way. 3 year schemes (however low the advertised EMI) will result in a net outflow of 34 - 35 lakhs (on a 30 lakh car). And a 5 year scheme (again, however tempting the 25K monthly offer may seem) will have you shelling out close to 40 lakhs by the end.

Then, there's the cost of insurance (80 - 90K per year), maintenance (35 - 50K a year) and so on. If you think you can barely afford the monthly EMI, you canNOT afford the car. Let's not get misled by these tactics, guys.

[sriramv.iyer]

Originally Posted by GTO

If you think you can barely afford the monthly EMI, you canNOT afford the car. Let's not get misled by these tactics, guys.

These words are worth their weight in GOLD!