M135i to C63 AMG (hopefully) - PCP FINANCE QUESTION

[DeltaTango]

giblet said:

SuperVM said:

Plus running costs are so much cheaper with the ISF than they are with the E90 M3 and W204 C63.

Yup but ultimately if the numbers don't add up despite a healthy dose of man maths then I strongly suggest against it. I've been in a situation like that before and it just isn't sensible whatsoever. The C63 still has a way to go in terms of depreciation in my view so it might be sensible to wait it out for a while. When I was looking at them a month or two ago a clean pre facelift with less than 60k on the clock was around 24k. No point buying at the bottom end of the market and getting a ragged car with a load of previous owners and sketchy service history.

DeltaTango said:

Yes I would also love one of those. Only thing that irks me is the fake exhausts. Spotted one at £18k in the classifieds just last week. Haven't done any research into them yet though so thank you for the nudge

The tips are actually diffusers and seemingly help aero at higher speeds. They can be removed and replaced with a proper quad exhaust from the likes of Hayward & Scott though.

Interesting re: the diffuser. Yes I take on board what you say above about waiting. You are probably right. I am however enjoying considering my options, and thanks again for all the sound advice.

I've bought my last 2 cars purely based on PH forum opinion, this one will be no different!

[giblet]

DeltaTango said:

Interesting re: the diffuser. Yes I take on board what you say above about waiting. You are probably right. I am however enjoying considering my options, and thanks again for all the sound advice.

I've bought my last 2 cars purely based on PH forum opinion, this one will be no different!

I waited before buying the ISF. Spent around 6 months tracking the market for the M3 and the C63 and it was only halfway through that research that I realised the ISF was the sensible option. A test drive sealed the deal in the end. If you want to do some more research on the ISF then have a look at my thread which has replies from current and previous owners.

[giblet]

Oh and in regards to the X308 XJR I have owned one a few years back. Whilst the running and repair costs weren't cheap the car itself was superb. You would struggle to get above 16mpg if commuting locally mind. An X350 would be a more modern place to be but lacks the classic lines of the 308 for me.

[Jim AK]

Just over 50% of your proposed spend would put you into a very good XJR & looking at their values I don't think you will take too much of a hit.

If looking 'modern' is an issue then you may need to go to an X350 & values of those are similar at present although there does seem to be more borkage potential with things like suspension on these.

Doesn't the cliche of an Estate Agent in a Jaaaag worry 'Mr Looking Modern' in your office?

[SuperVM]

abarber said:

SuperVM said:

Plus running costs are so much cheaper with the ISF than they are with the E90 M3 and W204 C63.

Is there much in it? You can get disks / pads quite cheap for the standard M3s and C63s. Tyres are pretty cheap on the C63 as they are pretty narrow (255 on the back).

Yearly servicing on the Merc will always add to the cost.

The ISF has the reputation of being bullet-proof. I haven't heard bad things about the C63 other than head bolts stretching on early examples, but I have heard of the dreaded bearing failure on the S65. Whether or not that has been exaggerated by the internet, I don't know. I've never heard of M friction material being cheap before and their servicing is usually expensive, whereas I've heard of people getting extremely cheap servicing on the ISF. There were some people on here posting about deals they negotiated with Lexus in which they got x number of services and warranty for something like £1200, I can't imagine you'd get much more than a year's worth of warranty for that on an E90 M3.

[GreatGranny]

Surely you are more than a few months away from paying 50% of the TOTAL cost including interest.

have you contacted the Finance Company to ask when this will be?

[DeltaTango]

Jim AK said:

Just over 50% of your proposed spend would put you into a very good XJR & looking at their values I don't think you will take too much of a hit.

If looking 'modern' is an issue then you may need to go to an X350 & values of those are similar at present although there does seem to be more borkage potential with things like suspension on these.

Doesn't the cliche of an Estate Agent in a Jaaaag worry 'Mr Looking Modern' in your office?

Haha! I'm allowed a jaaaaag. As I said above, it's very subjective, on the whim of the boss. I worry little about my reputation, I've already done enough damage via my chosen 'profession'.

I don't want an X350, agree about the lines. It's a big blob, albeit a fast one.

And yes I agree with your first paragraph. £7,500 gets a good 'un.

[Cooper7]

DeltaTango said:

I'm probably going to have to wait until summer until my pcp 'halfway' point when I can hand the M-lite back, plus some excess mileage charges, being semi sensible.

If you are going to voluntarily terminate your PCP deal there will be no excess mileage charges, the only additional charge they may be able to tag you with is if there's any cosmetic damage they deem to be more than 'wear and tear'

I looked at terminating a PCP deal a couple of years ago and this is the only thing you have to be aware of in terms of possible charges

[DeltaTango]

GreatGranny said:

Surely you are more than a few months away from paying 50% of the TOTAL cost including interest.

have you contacted the Finance Company to ask when this will be?

I'm going to find out exactly yes. Probably around 6-9 months.

[abarber]

SuperVM said:

abarber said:

SuperVM said:

Plus running costs are so much cheaper with the ISF than they are with the E90 M3 and W204 C63.

Is there much in it? You can get disks / pads quite cheap for the standard M3s and C63s. Tyres are pretty cheap on the C63 as they are pretty narrow (255 on the back).

Yearly servicing on the Merc will always add to the cost.

The ISF has the reputation of being bullet-proof. I haven't heard bad things about the C63 other than head bolts stretching on early examples, but I have heard of the dreaded bearing failure on the S65. Whether or not that has been exaggerated by the internet, I don't know. I've never heard of M friction material being cheap before and their servicing is usually expensive, whereas I've heard of people getting extremely cheap servicing on the ISF. There were some people on here posting about deals they negotiated with Lexus in which they got x number of services and warranty for something like £1200, I can't imagine you'd get much more than a year's worth of warranty for that on an E90 M3.

You can get OE spec ATE front disks for both the Germans for @£350 ish. Not too bad. How much are rotors for the IS-F? I've known a few people with E90 M3s, none had any issues. We're probably splitting hairs here regarding running costs. For most people, depreciation will be more important.

That M156 engine in the C63 is completely on another level though. Get them while you can!

[Jim AK]

DeltaTango said:

Haha! I'm allowed a jaaaaag. As I said above, it's very subjective, on the whim of the boss. I worry little about my reputation, I've already done enough damage via my chosen 'profession'.

I don't want an X350, agree about the lines. It's a big blob, albeit a fast one.

And yes I agree with your first paragraph. £7,500 gets a good 'un.

Then you know what to do!!

[DeltaTango]

abarber said:

SuperVM said:

abarber said:

SuperVM said:

Plus running costs are so much cheaper with the ISF than they are with the E90 M3 and W204 C63.

Is there much in it? You can get disks / pads quite cheap for the standard M3s and C63s. Tyres are pretty cheap on the C63 as they are pretty narrow (255 on the back).

Yearly servicing on the Merc will always add to the cost.

The ISF has the reputation of being bullet-proof. I haven't heard bad things about the C63 other than head bolts stretching on early examples, but I have heard of the dreaded bearing failure on the S65. Whether or not that has been exaggerated by the internet, I don't know. I've never heard of M friction material being cheap before and their servicing is usually expensive, whereas I've heard of people getting extremely cheap servicing on the ISF. There were some people on here posting about deals they negotiated with Lexus in which they got x number of services and warranty for something like £1200, I can't imagine you'd get much more than a year's worth of warranty for that on an E90 M3.

You can get OE spec ATE front disks for both the Germans for @£350 ish. Not too bad. How much are rotors for the IS-F? I've known a few people with E90 M3s, none had any issues. We're probably splitting hairs here regarding running costs. For most people, depreciation will be more important.

Yes, all three of those don't seem to suffer from major borkage. Not overly concerned about running costs therefore and I'm aware of their thirst for consumables. I could buy these cars outright @ £20k or so but don't wish to empty my coffers as I'm saving for a property, so getting on the never never without feeling screwed over is the priority.

[DeltaTango]

Cooper7 said:

If you are going to voluntarily terminate your PCP deal there will be no excess mileage charges, the only additional charge they may be able to tag you with is if there's any cosmetic damage they deem to be more than 'wear and tear'

I looked at terminating a PCP deal a couple of years ago and this is the only thing you have to be aware of in terms of possible charges

Useful insight, thanks.

[abarber]

How about a CLK63? They are getting cheap these days.

[Yiliterate]

If you're feeling brave, there's a choice of Maserati Quattroportes on the affordable side of £20k. Also, the V8 Audi S5 is a very competent piece of kit...

[gizlaroc]

DeltaTango said:

I'm going to find out exactly yes. Probably around 6-9 months.

Surely you must know what you paid for the M135i?

You must also know what interest rate you are paying? If it was new then I guess it was 4.9% apr.

Post the figures up and we can work it out for you exactly.


Also, why limit your budget to £20k? Are you buying this next one cash?


The reason I ask is I enquired about the 13 plate C63 estate at Blackpool Mercedes a couple of weeks back, it had 28k miles on it.
It was £31k, but with 2 years servicing and said I would like £1000 off and an extra years warranty to go for it, which they said yeah to.

Lombard were offering £18k on that car after 36 months, so it would have been £368 a month with £2000 down and the £1000 dealer discount, plus all servicing and warranty covered for two years, which is when I would have got shot, at 6 years old with 75k miles on it.

If I went for one that was already 6 years old with 80k miles on it, I would have to do it on a straight repayment, and 4 years would be the max allowed. Sure I would have a car I owned, but we know a 10 year old AMG C Class with 130k miles on it is going to be worth buttons, maybe £7k? Plus I would have to consider if I wanted to take a Merc service plan out, £70 a month, and warranty, which would be £3600 over the two year I would actually keep it. So it would cost me around £640 a month on the older car over 2 years.


So do some proper maths, these lose loads in the first 3 years and then hardly anything, so going for a 3 year old one may be a lot cheaper.

[Easternlight]

DeltaTango said:

Yes, all three of those don't seem to suffer from major borkage. Not overly concerned about running costs therefore and I'm aware of their thirst for consumables. I could buy these cars outright @ £20k or so but don't wish to empty my coffers as I'm saving for a property, so getting on the never never without feeling screwed over is the priority.

Your man maths is really on another level if you can make what you are trying to do add up to being good idea!

[gizlaroc]

Easternlight said:

DeltaTango said:

Yes, all three of those don't seem to suffer from major borkage. Not overly concerned about running costs therefore and I'm aware of their thirst for consumables. I could buy these cars outright @ £20k or so but don't wish to empty my coffers as I'm saving for a property, so getting on the never never without feeling screwed over is the priority.

Your man maths is really on another level if you can make what you are trying to do add up to being good idea!

Haha.


Having a £500 a month loan for a car is more stupid than having £20k less deposit.

I am looking at different mortgages currently and if I take off the £500 a month for the car they will lend me an additional £97,000.

[DeltaTango]

gizlaroc said:

Easternlight said:

DeltaTango said:

Yes, all three of those don't seem to suffer from major borkage. Not overly concerned about running costs therefore and I'm aware of their thirst for consumables. I could buy these cars outright @ £20k or so but don't wish to empty my coffers as I'm saving for a property, so getting on the never never without feeling screwed over is the priority.

Your man maths is really on another level if you can make what you are trying to do add up to being good idea!

Haha.


Having a £500 a month loan for a car is more stupid than having £20k less deposit.

I am looking at different mortgages currently and if I take off the £500 a month for the car they will lend me an additional £97,000.

Also laughing at these responses to my admitted optimism

I have £3,800 (ish) left until the 'halfway' point, so 10 months (based on 4.9% interest on a £31,500 purchase price - got a smashing discount of course). I might be doing that wrong and therefore delusional.

The sensible man would wait until that point, give back M135i, get mortgage, buy something interesting but older (X308 XJR, CLK 63 as one chap suggested above etc), outright and then start the hunt for the ideal C63 at my leisure.

It would appear as though a certain amount of sense has been talked into me, which I'm grateful for, but still can't be accountable for my actions.

[Jim AK]

anonymous said:

[redacted]

This is a bloody good call & I would have thought your prospective buyers in that area would absolutely love your 'Green credentials Dahhhling'

Also just remembered we rent a parking space in Islington to an agent with an i3, we had to organise somewhere for him to plug it in!

(Still think the XJR is where it's at tho )