Getting an M5 at 21 while a student?

[aspirated]

In 20 years you won't want to talk about that time you almost bought an M5 whilst at uni

[Alex_225]

I looked into the V10 M5/6s prior to buying my CLS.

I factored in that when something goes wrong, which it undoubtedly will, you have to have cash aside for that. On a car that cost £60k+ (ten years ago) that amount is going to be substantial. I figured to be comfortable driving it I'd either need a warranty or £10k aside in case. Even if I was handy with a spanner, parts are costly. Chap I know needed a new headlight for his M6, was a grand per side!

I opted for the CLS instead but there's still that risk so not necessarily a safer car (although no SMG!) but I'm aware I may have a hefty bill at some point in the cars ownership.

[V8RX7]

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

[Vaud]

Keep one car. The 730, whatever...

... take the money and use it for fun life events - a big road trip (maybe even one of the wreck trips to Mongolia?), skiing, hiking, throw yourself from a plane (with a parachute), travel in the summer holidays, etc.

Don't tie yourself to an M5 now, it might be fun but you'll have more life time memories from the above.

[Motorrad]

Slow said:

Im not even a Scot.

Im English but been living here for 11 years now which after 5 years entitles me to the free Uni.

Aye still a Jock privilege though and if you've been there for 11 yrs I bet you've been polluted by those cunning buggers north of the border.

TBH a V10 M5 while being a fantastic car, which I'd love to own, is just a sporting saloon/estate. There are much more interesting and potentially more rewarding in every sense of the word cars to own.

I wish you the best in your search but if I was you I'd be looking for something potentially more fun, cheaper to own and less 'old fart'.

[037]

This is the most boring topic in the history of Pistonheads!

[GTIAlex]

Grow up.

[GTIAlex]

V8RX7 said:

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

Exactly.


Lets face it, hes not going to buy an M5.

Boring pointless thread with no conclusion.
Discussion will dry up soon and it will die a death, leaving space for the next "oooo pistonheads shall I do this?" thread.

[Willy Nilly]

Would you rather be lying on your back in the pissing rain under a shagged out BMW or lying on your back pissed next to some nubile student?

Buy a cheap car that will do the job and enjoy your freedom as a student, oh, move out of home too.

[hora]

Slow said:

Didnt explain it well, in Scotland everyone except with parents earning over something like £60k a year can get the student loan of around £5k, which is paid in monthly amounts while your in the Uni.

You only start to pay it back when you earn something like £20k+ a year and its in very small amounts, like £40 a month or so at only £20k a year income.

That's crackers thinking. Most students would love to be in your situation. Why buy an old car on 'tick/never ever credit?

Post uni you might want to put a deposit down on a place. Owing money for a car that went pop (potentially) two years earlier would be daft

[Slow]

GTIAlex said:

V8RX7 said:

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

Exactly.


Lets face it, hes not going to buy an M5.

Boring pointless thread with no conclusion.
Discussion will dry up soon and it will die a death, leaving space for the next "oooo pistonheads shall I do this?" thread.

Sorry but have you seen my current cars? I drive a l322 Range Rover and an e38 730i, I enjoy my larger barges. My finances make buying an M5 a possibility. I came here to ask about the actual running costs of one and peoples opinions.

Post bills etc I have £600 a month spare as a bork fund etc is in my mind.

[daemon]

Slow said:

GTIAlex said:

V8RX7 said:

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

Exactly.


Lets face it, hes not going to buy an M5.

Boring pointless thread with no conclusion.
Discussion will dry up soon and it will die a death, leaving space for the next "oooo pistonheads shall I do this?" thread.

Sorry but have you seen my current cars? I drive a l322 Range Rover and an e38 730i, I enjoy my larger barges. My finances make buying an M5 a possibility. I came here to ask about the actual running costs of one and peoples opinions.

Post bills etc I have £600 a month spare as a bork fund etc is in my mind.

Surely thats your student grant money?

And that runs out in 3 months?

[AC123]

Had a Noble M12 when I was 21 and a student - go for it

[GreatGranny]

Were you and CC separated at birth?

[Calza]

I love the M5. It's very fast and that engine is pure theatre.

I've also tried to make the numbers work.

I admire your admiration, but don't do it. You know fine well it's a daft idea that will ruin you!

[Slow]

daemon said:

Slow said:

GTIAlex said:

V8RX7 said:

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

Exactly.


Lets face it, hes not going to buy an M5.

Boring pointless thread with no conclusion.
Discussion will dry up soon and it will die a death, leaving space for the next "oooo pistonheads shall I do this?" thread.

Sorry but have you seen my current cars? I drive a l322 Range Rover and an e38 730i, I enjoy my larger barges. My finances make buying an M5 a possibility. I came here to ask about the actual running costs of one and peoples opinions.

Post bills etc I have £600 a month spare as a bork fund etc is in my mind.

Surely thats your student grant money?

And that runs out in 3 months?

Might not have made sense in my first post.

Car is say £15k
I have 10-11k
Will finance 4-5k for like £200 a month
Get £600 a month for 9 months of the year for 3/4 years
Will also be working a evening and weekend job which covers all my bills (phone, insurance, broadband, sky, car tax etc)

This leaves me with the £600 purely to have as money for financing the M5, could make the payments over 4 years and only spend £100 a month, thus leaving me with £500 a month to run the car - assuming I dont do anything else of course.

Edit: Would point out said part time job is full time during the summer to make up for the lack of student loan money.

[HustleRussell]

I don't think Slow will do it. I hope Slow doesn't do it. There are far better ways for a student to piss money up the wall while accumulating significant long term debt.

[Vaud]

Slow said:

This leaves me with the £600 purely to have as money for financing the M5, could make the payments over 4 years and only spend £100 a month, thus leaving me with £500 a month to run the car - assuming I dont do anything else of course.

When do you get to have fun as a student outside of your car?

Uni is 50% study, 50% becoming an adult (fun and responsibilities - normally shared house, bills, experimental cooking, pub, etc).

I see the costs of multiple cars. I see the fun of an M5. Where is the rest of the fun?

[Slow]

HustleRussell said:

I don't think Slow will do it. I hope Slow doesn't do it. There are far better ways for a student to piss money up the wall while accumulating significant long term debt.

Im getting the student loan either way, almost every single student in Scotland does. With uni being free a student loan will pay rent/bills so a student never needs to work while in uni. Got a few friends who have done/do this currently.

Im trying to find out what sort of running costs are to be expected.

I would only be borrowing £4-5k for the car, so even if it went bang I could recoup that by breaking it if the parts are so expensive?

[Leptons]

GreatGranny said:

Were you and CC separated at birth?

I read the title and before I'd scrolled across to view the replys I automatically knew who had started the thread.