[androdev]

Saw an ad in TOI today that BMW 320d is at Rs 25,333 EMI. No other information is available. Rs.25K per month seems to be a pretty reasonable amount. Interestingly same TOI carried an ad today mentioning Rs 36,666 EMI for Merc C class. That is a huge difference. Anyone can explain the fine print? Thanks.

[arun1100]

I guess the down payment is 10 or 15 lakh rupees.

[S350L-E240]

Saw this ad, but usually this might mean something like a big down payment and then your EMI's increase after every 12 months, a good scheme if you want to foreclose early and you would like to have a smaller amount of outflow for some time.

But can anyone give better details on it?

Regards,

[sandeepmdas]

Could be for 25% finance...?

[anjan_c2007]

Yes the hidden costs need to be carefully probed and so the fine print.When we pay some Rs 15 to 20 K as EMI for the higher C segment (plus 10 L priced) cars this offer sounds a bit off the mark.

[androdev]

Here is the ad. There is no mention of down payment, etc.

[Vid6639]

25,333 per month comes to 13% on 15L loan amount for 5 years. Remaining you pay from your pocket. It's as simple as that.

So 25,333per month for 5 years which is 15L. Car costs say 35L which means down payment is 20L.

[sandeepmdas]

That's one ad designed to mislead. They should have advertised for Rs 5000 only !

[AlokSriva]

Had checked with dealer in Delhi and here are the finer prints which for obvious reasons found no mention in the print ad -

Obviously, the scheme is for 320d CE
Down Payment towards ex-showroom price - INR 12.5 L
Tenure 60 months - 59 EMIs of INR 25,333 each and 60th of approx INR 4.6L
In addition, one needs to pay registration and tax (INR 66,000 - Gurgaon)
Insurance, BSI and BMW Secure extra.

And BTW, I was aghast at the knowledge of salesperson whom I spoke to over phone. After listening to a lot of marketing cr*p, I finally had to tell him to shut up and get his basics right before he thinks of taking up another call. And that without having necessary info with him, I had clearly wasted my time and BMW had wasted its money without letting sales folks know the details of the offer

(Some examples - intially I was communicated down payment to be INR 16.5L which was later corrected to 12.5 L. Also, he communicated 5 year/100,000 kms BSI to be close to 2 L and when I asked him if he was sure, he checked up at his end to confirm that it was 2.98 L. Cheek of this guy was that he said "I had said approx 2L" to which I had to firmly tell him that fortunately Indian rupee has not lost its value so much that 2L and 3L can be approx equal!!)

Seems my hunt for a 320d (whether a sparingly used highline or the new CE) will have to continue for some more time.. Still hell confused between Endy/Captiva/320d

[ajmat]

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

[A.R]

A friend of mine enquired about this offer in Bangalore and its on 0% interest for 5 years. Rest is down payment.

[AlokSriva]

Originally Posted by A.R

A friend of mine enquired about this offer in Bangalore and its on 0% interest for 5 years. Rest is down payment.

As I mentioned earlier, the numbers on ad are only for ex-showroom price. Registration + Tax + Insurance + BSI + BMW Secure extra. 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

[anubhavarya]

Interesting, can anyone share more info on this. I cant seem to make sense out of this.

[S350L-E240]

Hi AlokSriva,

BMW & Mercedes does have 0% options, they are not step up schemes but basically regular EMI based schemes where the dealer has manufacturer subvention. You might get a little less discount but they are 0% in terms of finance rates. Those are not applicable on step up's.

Regards,

[AlokSriva]

Originally Posted by S350L-E240

BMW & Mercedes does have 0% options

Sure, they definitely would have zero% finance offers, but this one ain't as communicated to A.R's friend in Bangalore

Originally Posted by anubhavarya

Interesting, can anyone share more info on this. I cant seem to make sense out of this.

All you need to do is see the amount being financed (Ex-showroom price - Down Payment) and compare that with the interest you are paying over a period of 5 years.