Thank you to our leading BMW supplier, BMW Park Lane, for organising our new company car – the BMW X3 SUV.
As a credit broker, not a lender or supplier, we do not physically supply vehicles to our customers (as is often thought to be the case). In practice, we elect to utilise a specific dealership to supply our vehicles to the end user, whether a personal or business customer.
In some cases, the supplier is pre-determined, as they have been allocated the stock under a specific deal.
So why is the supplier/dealership so important? When a customer orders a vehicle with us, we allocate this to a dealer in order for them to arrange the corresponding order with the manufacturer (ensuring the specification is correct), keep us updated on the logistic process and then organise the delivery of the vehicle to the customer.
In the leasing industry, much of the issues and complaint arise around the delivery process. In an age where customers expect things here and now, there is immense pressure both in time and cost on our dealer partners to organise delivery.
Many dealerships will organise hundreds of deliveries, all around the country, every week. While our customer is incredibly important to us, what they need to understand is that they form part of a bigger process and no one person or business can be provided with special treatment.
To keep a process cost-effective and efficient, you have to operate to a set system – it is very rare we can offer “click and collect”! Because this is the stage where most problems arise, we try to use dealerships which adhere to the service standards that we operate to.
BMW Park Lane offer free transported delivery, which many dealers can no longer offer – most cars will be driven directly to the customer.
If your car arrives and there is an issue, Park Lane have a team to assist you in getting to know the car, managing any issues (scratches or dents) and, if anything goes wrong, they will organise a hire car UNTIL your new one arrives. What we stress to customers, is that this service is no longer standard (or affordable) everywhere. We are proud to have them as our partners and we believe that our customers benefit greatly from working with them too.
On another subject, another set of queries we now get asked by customers is the notion of “part-exchange” – can I use my existing car as a deposit? Do lease companies take your car in swap? As more and more customers transfer from ownership routes (like Hire Purchase and Personal Contract Purchase), into usership products like contract hire, there are a few subtle differences which arise. Traditionally, many customers will have taken out long-term hire purchase and personal contract purchase agreement with their local dealership. Sometime into this contract, the dealership (or customer) will discuss changing or upgrading the vehicle.
In practice, what actually happens is that the customer will get a settlement figure on their vehicle from the finance company and compare this to the value of their vehicle.
If the car is worth more than the finance settlement, you can use this equity towards your next car.
With contract hire, many of the deals advertised will ask for an initial rental – this could be anywhere from a 3 spread to a 9 spread.
For example, if a car is £300 per month and it is based on a 3 spread, you would have to pay £900 and if it was a 9-spread, you would need to pay £2700.
This is not a refundable deposit, nor does this make the overall cost any cheaper (as contract hire is not an interest-led product). This is just about personal preference, in that you can pay more initially and less per month or less initially and more per month. If you have a vehicle which you own outright, or which is in a position of equity, you can effectively use this value towards your next car.
Some brokers, like us, can offer part-exchange facilities with our used car partners and traders.
What this allows us to do is to have your new car delivered to our premises, you collect it from us, you leave your part-exchange vehicle with us and we forward any equity or value directly to your bank account. As an initial rental must be paid by you (as the customer), we cannot organise this on your behalf. However, as the initial rental is only taken 7 – 10 days after delivery, you have more than enough time to organise this. What we do stress, is that part-exchange is often better for local customers if the Manchester and Liverpool areas.
In terms of the car shown here, the BMW X3 Diesel Estate Xdrive20d M Sport 5Dr Step Auto, this is based on the following configuration:
· Phytonic Blue Metallic Paint
· Vernasca leather – Black with contrast stitching
· High gloss dark oak wood interior trim with pearl chrome finish
· 19″ M double spoke light alloy wheels – style 698M in bicolour ferric grey
· Sun protection glass
· Exterior mirrors – electrically folding with anti-dazzle
As standard, this luxury SUV offers – front sport seats, adaptive LED headlights, cruise control, 19” alloys, reversing assist camera, Bluetooth, rain sensor including auto headlight activation, ADB, brake assist, brake energy regeneration, hill descent control, hill start assist, attentiveness assist, front/rear parking distance control, start/stop button with keyless engine start, BMW inline services, 6.5” colour display screen, navigation system with 10.25” touch screen, real time traffic information, DAB digital radio, body coloured externals, LED front fog lights, air conditioning, M sport multifunction steering wheel, leather upholstery, ambient lighting, welcome lighting, Thatcham category 1 alarm, warning triangle, crash sensor and immobiliser. In terms of additional factory options consider adding sun protection glass, digital cockpit or, if the budget allows, the M Sport Plus pack.
On the technical-side, company car and business users can note the P11d at £43,480.00 and CO2 at 144g/km. The 1995CC 8 speed auto engine delivers 51.4 combined MPG (EC) BUT 40.4 WLTP comb Max, 190ps and 0-62 times of 8 seconds. Service intervals on the diesel BMW X3 are every 24 months or 25,000 miles, whichever comes sooner.
So would you select the X3 as your next leasing option? Or would the Mercedes GLC, Audi Q5 or Jag F-Pace or Volvo XC60 get your vote?
Find the webs best lease deals on the BMW X3 @CarLease UK – or – check out more SUV options below…
