Driven - Tuned BMW 1M
Joined: Mar 2001
Posts: 31,181
Likes: 58
From: Hertford
I just picked up a new style E Class saloon for delivery next month (hopefully).
£412 inc VAT a month over two years on 3+23 and 25k miles p/a with a couple of options to boot.
Thats £5,500 a year all in, to have it on the drive. The company pays me a lot more than that to leave the CC scheme.
I expect that's a lot cheaper than buying it. The residuals will be interesting at the end.
Bad luck if you just bought the runout E Class. Same deal above was only £290 pcm for that.
Take one over three years and average mileage and its yours for about £250pcm.
You cant buy it for that
Astonishing.
There were M3s about last month for under £450pcm on a two year personal lease.
There is little sense buying modern cars now unless you have a lot of cash, and then its often more expensive.
When I look had at what I have borrowed/financed over the years, almost everything would have been cheaper to rent.
The only exception being this Megane,just no great deals on them, this one was cheap used. Very cheap.
Borrowing money at great expense just to buy a new deprecating asset is a bit daft in the cold light of day.
You can lease a new car cheaper than borrowing money for a used car quite often.
£412 inc VAT a month over two years on 3+23 and 25k miles p/a with a couple of options to boot.
Thats £5,500 a year all in, to have it on the drive. The company pays me a lot more than that to leave the CC scheme.
I expect that's a lot cheaper than buying it. The residuals will be interesting at the end.
Bad luck if you just bought the runout E Class. Same deal above was only £290 pcm for that.
Take one over three years and average mileage and its yours for about £250pcm.
You cant buy it for that
Astonishing.
There were M3s about last month for under £450pcm on a two year personal lease.
There is little sense buying modern cars now unless you have a lot of cash, and then its often more expensive.
When I look had at what I have borrowed/financed over the years, almost everything would have been cheaper to rent.
The only exception being this Megane,just no great deals on them, this one was cheap used. Very cheap.
Borrowing money at great expense just to buy a new deprecating asset is a bit daft in the cold light of day.
You can lease a new car cheaper than borrowing money for a used car quite often.
I really don't understand how they make money (f)rigging the market like that. Law of averages, I guess.
Joined: Mar 2004
Posts: 23,298
Likes: 831
From: Nottingham
The £10K estimate will be interesting. I'd say it's optimistic if previous M residuals are anything to go by. Then add the fuel, tax, insurance, some tyres, servicing and a few ad hoc non-warranty fixes and you can see well over £20K for the three year ownership experience. Not saying that's a good or a bad thing as it's all down to personal circumstances and priorities. The weird thing is that I find the more I can afford it the less I can stomach it. Another symptom of old age I suppose.
The fuel is significant even at my low mileage but it's only 4mpg worse than the S really. Tyres are going to be c£500/yr i think, i only do about 5k miles and i might get 7k out of rears, a chunk more on fronts. Tax is about the same and service i reckon £1k but none of these things are included in a lease like that are they? (i genuinely dont know as i've never leased and it's not something i'd do as a contractor).
i ponder that a bit but i really do enjoy driving it and i'm getting 911 performance for a lot less outlay probably. i'm sure i could have run a CSL for less money with an Indy and seen little depreciation, the values have really hardened off on them since i bought, but i couldnt find a car i liked at the time and also hankered after the v8. M5s like your old one are mostly on stellar miles now and most costs would be similar in all likelihood.
its not a car i'd want to run if i decided to take an extended break but the talk of stellar running costs is all relative
Registered User
Joined: Jul 2005
Posts: 952
Likes: 0
Originally Posted by m1bjr' timestamp='1364691798' post='22439969
I just picked up a new style E Class saloon for delivery next month (hopefully).
£412 inc VAT a month over two years on 3+23 and 25k miles p/a with a couple of options to boot.
Thats £5,500 a year all in, to have it on the drive. The company pays me a lot more than that to leave the CC scheme.
I expect that's a lot cheaper than buying it. The residuals will be interesting at the end.
Bad luck if you just bought the runout E Class. Same deal above was only £290 pcm for that.
Take one over three years and average mileage and its yours for about £250pcm.
You cant buy it for that
Astonishing.
There were M3s about last month for under £450pcm on a two year personal lease.
There is little sense buying modern cars now unless you have a lot of cash, and then its often more expensive.
When I look had at what I have borrowed/financed over the years, almost everything would have been cheaper to rent.
The only exception being this Megane,just no great deals on them, this one was cheap used. Very cheap.
Borrowing money at great expense just to buy a new deprecating asset is a bit daft in the cold light of day.
You can lease a new car cheaper than borrowing money for a used car quite often.
£412 inc VAT a month over two years on 3+23 and 25k miles p/a with a couple of options to boot.
Thats £5,500 a year all in, to have it on the drive. The company pays me a lot more than that to leave the CC scheme.
I expect that's a lot cheaper than buying it. The residuals will be interesting at the end.
Bad luck if you just bought the runout E Class. Same deal above was only £290 pcm for that.
Take one over three years and average mileage and its yours for about £250pcm.
You cant buy it for that
Astonishing.
There were M3s about last month for under £450pcm on a two year personal lease.
There is little sense buying modern cars now unless you have a lot of cash, and then its often more expensive.
When I look had at what I have borrowed/financed over the years, almost everything would have been cheaper to rent.
The only exception being this Megane,just no great deals on them, this one was cheap used. Very cheap.
Borrowing money at great expense just to buy a new deprecating asset is a bit daft in the cold light of day.
You can lease a new car cheaper than borrowing money for a used car quite often.
I really don't understand how they make money (f)rigging the market like that. Law of averages, I guess.
Still part of me thinks I should have gone for a new lease deal on a c63 it wouldn't have been massively different to a 10 year old lotus with all the costs I'm splashing out for maintenance. How ridiculous is that.
Joined: Mar 2001
Posts: 31,181
Likes: 58
From: Hertford
IKWYM - but there's still the rebel without a clue in me, which would rather have the Louts. At least you can do with it waht you will.
Also, remember these leases are OK so long as the warranty covers the bits that go wrong. It ain't necessarily so.
However I would say; grab these leases whilst you can; the banksters are blowing up another huge bubble for their own gain (why else are US & UK car sales soaring, in a collapse?) and it will end in tears.
Also, remember these leases are OK so long as the warranty covers the bits that go wrong. It ain't necessarily so.
However I would say; grab these leases whilst you can; the banksters are blowing up another huge bubble for their own gain (why else are US & UK car sales soaring, in a collapse?) and it will end in tears.
Registered User
Joined: May 2006
Posts: 12,330
Likes: 0
From: Frustration
I was looking at GTRs on PH because I could afford to run one with the mileage I do easily. Especially with them breaking into the sub £30k mark now.
Same goes for the 135M hatch that I actually priced up and was very pleased with the numbers.
However, it just seems like a colossal waste of money for what will only ever be a practobarge with a couple of bells and whistles.
Again, different people have different needs so I can see how the no hassle one car does all thing works.
Joined: Mar 2001
Posts: 31,181
Likes: 58
From: Hertford
Originally Posted by gaddafi' timestamp='1364729184' post='22440522
The weird thing is that I find the more I can afford it the less I can stomach it. Another symptom of old age I suppose.
I was looking at GTRs on PH because I could afford to run one with the mileage I do easily. Especially with them breaking into the sub £30k mark now.
Same goes for the 135M hatch that I actually priced up and was very pleased with the numbers.
However, it just seems like a colossal waste of money for what will only ever be a practobarge with a couple of bells and whistles.
Again, different people have different needs so I can see how the no hassle one car does all thing works.
I quite like the idea of the 135M or whatever it's called, but for the benefit of being a modern that's not totally crap for the wage-slave Lisas of this world and not for me personally. Presuming they've worked out how to draw a f ucking timing chain tensioner by now, that is...even Jag got the problem licked on the MK11s' XK in the 1960s.
Having said that, if I had the use for a monster, they don't come more monstrous than Godzilla! I really quite like the idea of those too.
