640d GC 4days in (possibly still the best car in real world)
Discussion
TacoExcellence said:
I'm suddenly rethinking my aversion to leasing. That's steep!
Finally....another sees past the cloud of PH bigotry and sees sense ;-)Add in that if you paid cash for it, it would have cost c£5-8000 more too.
Smart money leases/rents. Very little, new higher value equipment defies that. Even houses if you want to get really tech
leglessAlex said:
rb5er said:
Wow, £700 a month just in depreciation.
I doubt its much/any worse than other similarly priced cars but damn thats quite a hit. Nothing if you have deep enough pockets though I'm sure.
I think that's pretty good considering the class of car. I doubt its much/any worse than other similarly priced cars but damn thats quite a hit. Nothing if you have deep enough pockets though I'm sure.
I mean it's a big, heavy, fast, luxury car and they generally go down at a staggering rate, £700 is very very reasonable.
Better than a Ferrari FF at any rate, that seems to go down to the tune of £4000 a month
.....and it's not really in the league of a Ferrari FF
ORD said:
Ares said:
Finally....another sees past the cloud of PH bigotry and sees sense ;-)
Add in that if you paid cash for it, it would have cost c£5-8000 more too.
Smart money leases/rents. Very little, new higher value equipment defies that. Even houses if you want to get really tech
Oh dear. That almost wasn't stupid until you mentioned housing. My house earns more in a year than most people. I get paid serious money just to own it (on a vast mortgage with bugger all interest). No analogy with new cars whatsoever. Renting a house is usually a bad idea if you can afford to buy. Add in that if you paid cash for it, it would have cost c£5-8000 more too.
Smart money leases/rents. Very little, new higher value equipment defies that. Even houses if you want to get really tech
Leasing cars makes sense because of disguised discounts and misleading list prices. It's a market failure and is unlikely to last.
My best man works in Private Equity. He almost bought a £2.5m house, then he realised that he could rent the same house for £6500 per month if he paid upfront 12 months at a time on a agreed 3 yr rental agreement. £252,000 over the three years. 10%.
If he invested his £2.5m, he could easily get an 11-12% return on a zero risk crowd platform. Per year. Thats nigh on a million quid over the three years...in exchange for laying out £252k. Will the house appreciate by the £6-700,000 in that time. Extremely unlikely.
OK....he has the £2.5m in cash/liquid funds to use.....BUT....he is also in Private Equity. His business seeks a minimum 3 yr/50% return, and for the last 10 years has averaged over 130% return over 3 yrs. If he stuck his £2.5m into his PE fund (i.e. personally invested), he would would that double his money for the cost of 10%.
Even for mere mortals that don't have £2.5m in cash (which is me). I can sit smug that my house has increased in value by around £200k in the last 6 yrs. We are fortunate that the mortgage is only c50% and costs us £1500 per month. So over that 5 yrs we've spend £110,000. It also cost us c£30,000 stamp duty. In that 6 yrs we've put a new kitchen in and 2 new bathrooms, another £40,000.
So all of a sudden our £200k profit is actually £20k.....and thats before other expenses, and other surprise bills etc.
If our house had only increased by the national average over that time (Nationwide say real house prices have gone up about 11% from Q1 2010, although this area is closer to 15%), then the value appreciation might have only been somewhere between £80-120k)....in which case, the increase would have struggled to match our mortgage outlay.
Now factor in that we only have a 50% mortgage, if we were 75%, the mortgage costs would have been close to double, so even getting towards breaking even, we've still got over £300k capital tied up. Stick an 11% return on that and the economic case weakens further.
The UKs obsession with owing a house on economic grounds is often misplaced.
Trexthedinosaur said:
Ares said:
The UKs obsession with owing a house on economic grounds is often misplaced.
Which is a nice place to be; but the costs you factor in such as stamp become less of a factor the longer you own the house and upgrades whilst cost in outlay I would suspect also increase the value.My perspective on owning a house is simple, do I want to worry about being able to pay my rent when I am old, worry about my landlord needing to release funds, concerned over my 'funds' performance in order for me to meet my bills, will my pension rise inline with rent prices.
I have done quite well out of my property purchases, if you buy on location and leave emotion out of the price then in the long run property, should, provide a steady income.
Whilst an economic case may be argued against house ownership, for sure the phonological effects need to be considered!
As an investment vehicle, in the current market, residential property is not the optimum.
Not sure about the phonological effect of house ownership(?) but emotional and and psychological considerations are always going to be a major factor.....thats why we are looking to buy again, not rent. But I've taken the economic argument out of the equation. Tipping in a few quid into a higher-risk investment vehicle will probably and significantly cover the economic argument!
ORD said:
You're off your rocker! Renting makes almost no sense for anyone in this country. Buying a house may not be the smartest thing to do with £2m quid sitting in the bank (and even that depends on where you live - it would generate big risk-free returns in London), but that is an almost non-existent set of facts. Almost everyone buys on a mortgage, in which case home-buying is a brilliant investment relative to renting and sticking a tiny bit more money (as renting is nearly as expensive as buying on a mortgage) into shares or other investment vehicles.
So the comparison is buying a car on car-finance Vs bank finance.....but for cash purchase Vs finance, the smart money would rent if looking solely on economic grounds. The return you'd get whether £500k, £1m or £5m is a no brainer! The issue isn't the cost of the rent, it's the opportunity cost of the capital employed.
Stormb
h said:
h said: This vid 640d sums up perfectly.
https://www.youtube.com/watch?v=rrtgeUkSQys
My only concerns are
1. Seats seem slightly small
2. Leather not that luxurious unless you have nappa.
Weirdly - people do look at you as though its a super-car
For the price.. I'd trade my 535d for one I think, even feels quicker - no idea why? You know??
1. Depends how big you are. They are more than big enough for mehttps://www.youtube.com/watch?v=rrtgeUkSQys
My only concerns are
1. Seats seem slightly small
2. Leather not that luxurious unless you have nappa.
Weirdly - people do look at you as though its a super-car
For the price.. I'd trade my 535d for one I think, even feels quicker - no idea why? You know??
2. On a par if not better than any £50-80k car I've driven. Nappa is a league ahead, but the standard is a league ahead of the leather you get in Ford/VW etc, and I would say likewise better than the always too firm you get in Mercs.
640d wouldn't be materially quicker than 535d. Probably a bit slipperier aero wise, and if a later spec, could well have a better version of the ZF 8sp gearbox.
Simond S said:
Like the OP I am blown away with the GC.
Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
(I do wish i had the heated steering wheel though, rooky mistake forgetting that).
Try the Schnitzer suspension. Costs buttons and make the car feel half the size on the road.Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
(I do wish i had the heated steering wheel though, rooky mistake forgetting that).
If you have deeper pockets, the £3000 engine kit is also a huge winner
Simond S said:
Ares said:
Simond S said:
Like the OP I am blown away with the GC.
Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
(I do wish i had the heated steering wheel though, rooky mistake forgetting that).
Try the Schnitzer suspension. Costs buttons and make the car feel half the size on the road.Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
(I do wish i had the heated steering wheel though, rooky mistake forgetting that).
If you have deeper pockets, the £3000 engine kit is also a huge winner
monthefish said:
Simond S said:
Like the OP I am blown away with the GC.
Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
Do you or anyone else know if the M6GC's are equally comfy? Picked mine up a month ago and just gone past 1000 miles in it.
The size is a consideration, it does feel quite large on the road but that aside what an absolutely amazing car. Having had all manner of vehicles this rates in my top two.
If I considered all the cars I have owned, with the exception of the Defender 110, I would pick this again.
Amazing car that is obviously unloved by press and public, but defies logic in terms of handling and comfort.
CSK423 said:
Thats brilliant. But he loves the engine note...ergo, he'll be discredited by 75% of PH immediately Gassing Station | Readers' Cars | Top of Page | What's New | My Stuff