Getting an M5 at 21 while a student?
Discussion
Vaud said:
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?
Ive done the whole living like a student thing with 3 friends while in college, I really dont fancy a shared place again. There is no actual student accomodation built yet so im happy to stay at home for the meantime which is giving me the spare cash.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 said:
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.Sports cars, hot hatches, coupes...
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.
Post bills etc I have £600 a month spare as a bork fund etc is in my mind.
And that runs out in 3 months?
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.
Your 21, have 10-11k spare while at Uni, and you are considering buying an M5, financing 4k of it and you already run two large cars.
f
king exactly. "Im sorry but" as you quite rightly said, you came here to ask peoples opinions, and "Im sorry but" that's exactly what your getting.Let me get this right again....you have a "spare" 10-11k and you want to buy a depreciating asset for no real reason other than to most likely try and impress people.
Go for it I say.
Slow said:
Ive done the whole living like a student thing with 3 friends while in college, I really dont fancy a shared place again. There is no actual student accomodation built yet so im happy to stay at home for the meantime which is giving me the spare cash.
It's not spare cash, it's a loan (although a good value one)You might have missed my previous post:
Vaud said:
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.
... 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.
GTIAlex said:
Hilarious
Your 21, have 10-11k spare while at Uni, and you are considering buying an M5, financing 4k of it and you already run two large cars.
fking exactly. "Im sorry but" as you quite rightly said, you came here to ask peoples opinions, and "Im sorry but" that's exactly what your getting.
Let me get this right again....you have a "spare" 10-11k and you want to buy a depreciating asset for no real reason other than to most likely try and impress people.
Go for it I say.
Ive worked for my money, it didnt magicially appear in my hands and as for the running 2 large cars, they (as well as my others) are being sold to fund the M5, wouldnt be keeping them too. I will be 22 in October, my friends from school are about to graduate/have done already.Your 21, have 10-11k spare while at Uni, and you are considering buying an M5, financing 4k of it and you already run two large cars.
f
king exactly. "Im sorry but" as you quite rightly said, you came here to ask peoples opinions, and "Im sorry but" that's exactly what your getting.Let me get this right again....you have a "spare" 10-11k and you want to buy a depreciating asset for no real reason other than to most likely try and impress people.
Go for it I say.
Buy an M5 to impress people? If i wanted to do that I would go lease a brand new 116d, most people have no clue what an M5 is.
Slow said:
Im getting the student loan either way, almost every single student in Scotland does.
Only if they apply for it. And as mentioned previously it does add up, I've got one. I spunked mine on pointless stuff and wish I hadn't. Do more shagging and less spending. Sex is (/should be!) free.Slow said:
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?
No offence but if banks are stupid enough to lend students thousands of pounds to buy old cars to be paid off with other debt it's no wonder we're fked.Slow said:
Ive worked for my money, it didnt magicially appear in my hands and as for the running 2 large cars, they (as well as my others) are being sold to fund the M5, wouldnt be keeping them too. I will be 22 in October, my friends from school are about to graduate/have done already.
Buy an M5 to impress people? If i wanted to do that I would go lease a brand new 116d, most people have no clue what an M5 is.
Where did I say you hadn't worked for your money? How defensive of you.Buy an M5 to impress people? If i wanted to do that I would go lease a brand new 116d, most people have no clue what an M5 is.
Slow said:
£500 a month to run the car - assuming I dont do anything else of course.
It will cripple you. OK, rough figures...
Insurance : £150/month
Fuel : (assuming 10K miles @ 20mpg) £200/month
Tax: £25/month
Tyres : £60/month
Brakes : £40/month
-- Leaving 25 quid a month for all servicing, repairs, welding, pot noodles, etc.
Please, just don't.
Last two or three posts sum it up perfectly. Uni is about being in lectures or being over the drink/drive limit, not using all your available capital to buy a fast car. You are already choosing to live at home thus excluding yourself from one of the major features of being at Uni, now you want an expensive car to drive so you will either stay off the socialising in order to drive it or drive it whilst all your coursemates are in the pubs having a laugh. Save the money, keep one of your current cars, enjoy your time at uni and buy something fast when you graduate.
Vaud said:
Slow said:
Ive done the whole living like a student thing with 3 friends while in college, I really dont fancy a shared place again. There is no actual student accomodation built yet so im happy to stay at home for the meantime which is giving me the spare cash.
It's not spare cash, it's a loan (although a good value one)You might have missed my previous post:
Vaud said:
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.
... 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.
Its odd though, your suggesting I spend the money yet people here are telling me I have to save/get a place of my own. If we were all the same it would be boring.
My 2p, although arguably it's worth slightly less than that. 
I'm 40, and have been toying with the idea of buying a 4-5 year old M5. I probably won't, because with no kids I don't need one and I could have a more impractical car instead. I can save the practical cars for when I really need one! Personally, despite your love of barges, I think you'd be daft to buy an M5 rather than something with fewer doors and nicer looks. Still, whatever floats your boat.
What I will say is that having been to uni, a huge part of that is going out socialising and (mainly) drinking - at least it was 20 years ago! Driving a car will get in the way of the social drinking, as will living at home. Particularly if you've got to work much of the free time you have outside of lectures to be able to afford the car... To me, a car at uni is a nice to have, but a shed that owes you nothing is a better option. You run a risk of resenting the car and what you have to do to pay for it, given that there's drinking to be done and women to be taking to...
I'm 40, and have been toying with the idea of buying a 4-5 year old M5. I probably won't, because with no kids I don't need one and I could have a more impractical car instead. I can save the practical cars for when I really need one! Personally, despite your love of barges, I think you'd be daft to buy an M5 rather than something with fewer doors and nicer looks. Still, whatever floats your boat.
What I will say is that having been to uni, a huge part of that is going out socialising and (mainly) drinking - at least it was 20 years ago! Driving a car will get in the way of the social drinking, as will living at home. Particularly if you've got to work much of the free time you have outside of lectures to be able to afford the car... To me, a car at uni is a nice to have, but a shed that owes you nothing is a better option. You run a risk of resenting the car and what you have to do to pay for it, given that there's drinking to be done and women to be taking to...
Slow said:
I do appreciate that but I am in the very fortunate position that my Dad lives in the states and travels so much for business he lets me use his air miles for free flights, as well as my Mum being ex BA so I get to use her staff travel too.
Its odd though, your suggesting I spend the money yet people here are telling me I have to save/get a place of my own. If we were all the same it would be boring.
Lets face it, your parents will pay for whatever you need anyway and you'l get to use daddies air miles to do the fun stuff.Its odd though, your suggesting I spend the money yet people here are telling me I have to save/get a place of my own. If we were all the same it would be boring.
Go for it.
silentbrown said:
Slow said:
£500 a month to run the car - assuming I dont do anything else of course.
It will cripple you. OK, rough figures...
Insurance : £150/month
Fuel : (assuming 10K miles @ 20mpg) £200/month
Tax: £25/month
Tyres : £60/month
Brakes : £40/month
-- Leaving 25 quid a month for all servicing, repairs, welding, pot noodles, etc.
Please, just don't.
Even my Range Rover isnt that bad on them, assuming im not blasting round a race track in the M5 of course.Slow said:
I do appreciate that but I am in the very fortunate position that my Dad lives in the states and travels so much for business he lets me use his air miles for free flights, as well as my Mum being ex BA so I get to use her staff travel too.
Its odd though, your suggesting I spend the money yet people here are telling me I have to save/get a place of my own. If we were all the same it would be boring.
Well, quite. I'm in the liberal camp. I went to uni at 21 and spent money I didn't have... having fun and doing things I had never done before (whilst living in halls). Its odd though, your suggesting I spend the money yet people here are telling me I have to save/get a place of my own. If we were all the same it would be boring.
I loved cars then but I put up with a 1 litre Vauxhall Nova. The rest went on many other activities, as I gained more confidence, fun and true life long friends from those groups. I wouldn't have had those chances if I was trying to run an M5, even from home - the priority was passing my degree, meeting people and doing new things.
All an M5 will get you now is the same ability to go from point to point, much faster, with more bills and probably fewer friends (vs not having it).
With all due respect, unless i was mega rich i wouldent dream of plowing 15k into a gas guzzling depreciating car, let alone do it at uni whilst living at home.
What a massive massive waste of money, more money than sense my son.
Spend it on hookers and a flat for yourself so you can wk yourself silly.
What a massive massive waste of money, more money than sense my son.
Spend it on hookers and a flat for yourself so you can w
k yourself silly.
Slow said:
GTIAlex said:
V8RX7 said:
You're 21 - not 51 why keep buying old men's cars ?
Sports cars, hot hatches, coupes...
Exactly.Sports cars, hot hatches, coupes...
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.
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... peoples opinions.
An M5 is not a barge.
But equally is still an old man's car.
What fun cars have you owned ?
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