Personal Contract Purchase APR Rate

[AmitV]

I recently purchased a new X5 3D M Sport from a BMW dealer in the UK.

The order was placed in Sept. and will be picking up the car this weekend.

I got a very good deal on the car, received £3500k financial support from BMW finance and another £3k dealer discount.

I've signed up to a 48 month PCP contract but not sure if the interest rate charged by BMW finance is competitive. I will be charged 11.9% over 4yr term.

Anyone if this is a good rate taking into account I did get very good discount on the overall purchase price of the car ?

[jaaX3]

11.9%

BMWFS (USA) is offering 5.9% on the X5d, and a few banks/credit unions are offering 3.9%. What is going on in the UK?!

[motordavid]

No idea of current loan rates in the UK, but that rate is right up there with
the "pay as you go, weekly loan", at the shyster used car lots here in the
Colonies. Maybe it's all that tea.
GL,mD

[AmitV]

Originally Posted by jaaX3

11.9%

BMWFS (USA) is offering 5.9% on the X5d, and a few banks/credit unions are offering 3.9%. What is going on in the UK?!

Yeh - I've noticed the low rates in the US.

I like to think discount I got on car has compensated for the higher rate of interest.

But it would be interesting to learn from other buyers in the UK what sort of rates they managed to get from their BMW dealer.