Swapping an M135i for a 997 Turbo. Am I mad?

Swapping an M135i for a 997 Turbo. Am I mad?

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matt21

Original Poster:

4,288 posts

205 months

Monday 25th May 2015
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My lease on my M135i will soon come to an end and contemplating alternatives. It's is fully loaded and I got it during the great deals of 2013. Including tyres, lease and insurance the M135i cost me £11000 in two years

I could get a Golf R to replace but happy to buy if total cost makes sense.

Starting thinking left field. Now looking at a Porsche 997.1 Turbo manual for about £55000

I am hoping residuals will be very strong indeed and in two years hope it will still be worth £50000 as think it is at the bottom of the depreciation curve. If I get from Porsche it will come with a two year warranty. Mileage will be about 8k pa so set of boots and service as well.

Is this pie in the sky or could I run a 997 Turbo (excluding fuel and insurance) for the same price as a M135i? Depreciation is the key one!

Thoughts?

Matt

matt21

Original Poster:

4,288 posts

205 months

Monday 25th May 2015
quotequote all
I have a 2004 Passat as work car and airport car. Also have a Citroen C1.

Car will be used regularly but not for the really boring stuff like the M135i

matt21

Original Poster:

4,288 posts

205 months

Monday 25th May 2015
quotequote all
poing said:
As long as you have an emergency fund for any scary bills I can't see why you wouldn't do this.
What scary bills could I expect?

matt21

Original Poster:

4,288 posts

205 months

Monday 25th May 2015
quotequote all
veevee said:
I'm not anti-leasing, but 11k for two years to do 8k miles per year?!

Can't help thinking you could have spent 11k on a 130i which still would have been worth 9 now!
I actually had 10k pa on lease but will do slightly less in porker.

You are right. I could have also not bothered and driven in Passat for virtually free. But I get a car allowance which covers the cost, and I work hard, so why not

matt21

Original Poster:

4,288 posts

205 months

Tuesday 26th May 2015
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Disco You said:
Do you honestly think a car bought from porsche for £55k will be worth £50k as a private sale / trade in in 2 years? Really?
Values seem to be on the up so it's possible

Bought a car from a main dealer for £36k in 2013, now worth £50k. Granted got lucky !

matt21

Original Poster:

4,288 posts

205 months

Tuesday 26th May 2015
quotequote all
Just to clear a few things up.

The car bought from a main BMW dealer in 2013 which has appreciated substantially is a low mileage M3 CSL. Yes you could argue I won't get £50000 but that's what it is insured for and that's same price as others for sale with more miles

Secondly generally speaking people take a company car where I work. They pay about £200 per month in BIK for a low spec 320d Sport in budget. That did not interest me, hence taking the cash and buying using the money after tax to take a lease. The £200 extra per month more than pays for the other running costs.

The lease was as cheap as it gets. £300 per month on a 3+23 lease. Hundreds got one. I went a little mad with options because I wanted to and in my budget. It may be more than an older A4 but I'm happy and it's good value to me, and less than 2 years of deprecation if bought outright. Again I could have kept longer but I like to change.

I acknowledge £11000 all in was a fair amount of cash but affordable. Hence why I ask If I could get a 997 Turbo for a similar total cost of ownership

£55000 would be a privately funded so no worries of high interest rates. I think the 997 Turbo is near the bottom of it's depreciation curve so hoping this won't bite too much, but i could be wrong

Happy to pay a little more from dealer for peace of mind including 2 year warranty.

Thanks for advice on radiators. Those things worry me if not covered by warranty. Food for thought!



matt21

Original Poster:

4,288 posts

205 months

Tuesday 26th May 2015
quotequote all
I think the key is depreciation. If it is close to r at bottom of curve it makes senE, if it has £20k drop to go it doesn't!