BMW M3 (F80): PH Carpool
Leasing, manual M cars and new versus used in one Carpool!
Car: BMW M3 F80
Owned since: May 2016
Previously owned: Toyota Auris, Rover 416i x 2, MG ZS, VW Golf GTI Mk4 and BMW 325i E92
One week in and this PHer is loving it
"My first 'proper' car, after a lot of graft, was my E92 325i. I absolutely loved it and had some great adventures in it, but it always left me wanting more power. Also, with a wedding imminent and plans for kids just round the corner, I felt like a two-door would soon become tedious. I also - very luckily - have a fiancee that understands why I think practicality and an M3 go hand in hand.
"I have been a BMW and M3 fanboy since I was about 10 years old. Seeing the first pictures of the new M3 two years ago only intensified by yearning for one. Ever since then, I was religiously checking the BMW approved used site tracking the prices of secondhand versions. Once the decision was made to sell the 325 a budget was set and the search began.
"After making a few enquires and chickening out of some deals (an M3 is a big step from a 325!), one particular dealer suggested leasing and ordering a brand new one. Initially this seemed completely insane but I found by happy accident that by dragging my heels the price just kept tumbling down. Initially the first dealer I spoke to was £350 over my monthly budget, but after some haggling I got the monthly cost down to only £30 over my original target.
"Leasing among my friends is a controversial issue, but I have always believed if you are well within your means and it's something you are passionate about then do it. I would say to anyone out there considering this kind of thing that you will be surprised at what deals you can do. Yes, it is still an extravagant purchase, but it is not as expensive as you might think.
"It is also worth noting I went for the manual. I know the DCT is probably a better match for the engine given that it can be a little tricky to shift smoothly and fast enough. I decided I will always try to go for a manual for as long as I possibly can. I am petrified that in the next 15 years we will all end up being driven around by Google and motoring journalism will be more like consumer advice for fridges."
Silverstone a late swap from Yas Marina blue
"This will be obvious to more seasoned readers, but almost all of the insurance companies I spoke to expected me to have been driving for five years, to be over 30 years old and have a tracker fitted to the car. I was just about OK on the first two points, but that could've turned out to be very expensive otherwise! I had not budgeted for the tracker, the cost of which made a mockery of my original man maths budget."
Things I love:
"I haven't driven a huge array of cars, but I have driven a Nissan GT-R and Ferrari 360 Modena at Silverstone for a couple of laps. The acceleration is intense, really intense. As a true greenhorn performance car owner idiot I nearly drove it straight across a T-junction two miles from the dealership! It definitely feels quicker than a 360 by a long way; it's not quite as rapid as a GT-R but it's not far off! I can't even take it past 5,500rpm yet and it picks up speed in such a relentless manner. I can't wait to get the rev counter flashing.
"I love the sound. There. I said it. Yes it is slightly odd at times, but overall I think it sounds awesome and only adds to the intensity of the experience. I love how anti-social and angry it sounds at a cold start. I will accept that it sounds a little better on the outside than the inside, but for me leaving the throttle in Sport mode is more than enough. Tunnels and underground car parks have become very fun indeed! I also like the faint hissing of the turbos and blow off valve under heavy acceleration.
"I went for the M3 over the M4 partly because of practicality, but also because I think it doesn't have to try as hard to look special. The swollen wheelarches with the rear wheels just tucked under snugly look perfect to me. I initially had my heart set on the Yas Marina blue, then at the last minute I went with Silverstone which, to my eyes, is sublime."
Things I hate:
"The default driving modes when the car starts are a bit odd. It starts with efficient throttle and the suspension and steering in sport. Then the M1 button on the steering wheel inverts that so the throttle is sport but the suspension and steering are in comfort. God knows what kind of meeting decided on that. I personally would rather it started all in comfort and then leave the M1 button for spirited drives rather than being my go-to button when the car starts. First world problems though I suppose.
"The tyre roar is intense, especially at motorway speeds on the awful southern stretches of the M25. It was a bit unexpected if I am honest and detracts from the refined nature of the car. But, again, first world problems."
Costs:
"There are no real costs other than petrol and tyres to worry about for the next couple of years. It has a warranty which includes breakdown and I included a service pack which covers the first five years or 50,000 miles of servicing. The service pack and a 4.5 per cent APR (less than half offered on approved used) swayed me over from considering secondhand versions."
One of Adam's favourite angles!
"I've only had it a week or so and it's nearly ready for its first 1,200-mile service. Mostly it's been from London to the coast and back again. I took it straight from the dealership to a weekend away for a wedding in Suffolk, which was a nice opportunity to wake up early and enjoy some amazing country roads! I've also been to the south coast through Surrey and Sussex for no good reason other than the pursuit of fun. And the completely unnecessary road trip to Whitstable for fish and chips... I'm finding it hard to stay away at the moment!"
What next?
"I'm vaguely considering the titanium Akrapovic system but I just don't think that the sound is anywhere near as bad as some people make out to justify the £2-£3K cost of fitting.
"I really want to take a road trip around Europe, including a pilgrimage out to the Nurburgring - although I think I will be booking a 'ring taxi rather than driving round myself.
"I'm considering quite seriously the BMW driver training reviewed on PistonHeads recently. I am very much aware my driving talent will run out quite quickly if I am not very careful!"
Want to share your car with PHers on Carpool? Email us atcarpool@pistonheads.com!
Ignore the people who frown at leasing.
1 - buying approved used for £30k, £5k down and £25k loan over 4 years:
Monthly repayment
£592.90
Representative
6.7% APR
Total amount payable
£28,459.41
2 - lease - you tell me :-)
Main argument I guess is option 1 is still £15k back after 4 years. Option 2 will be nothing back and a bigger dent to the wallet?
I've always "nearly" gone to lease a car but always backed out at the last minute. It's a very scary thought and I read so many horror stories about when the car gets returned and the hefty fines about miniscule damage and things like that.
Don't know why though to be honest, it's more popular in other countries than the UK I believe? Be interesting to see how the story of the M3 spans out after 12 months of ownership
Nice car though! Chris Harris has been running a green one that looked lovely and he raved about it
I suppose it depends what Carpool wants to achieve. Good information on the merits of different ways of getting a nice car, but less about using it.
It would be good to hear about it after the European trip, driver training, and with a link to the in-car Ring footage - I know the owner intends to take a Ring Taxi, but the temptation will be too much
Having an F8* with a manual gearbox makes the car a lot more manageable than a DCT in my experience; it's far less hairy when trying to make progress and because you can hold a higher gear when stabbing the throttle and the gearchanges are within your control (..and so slower/less ferocious) there are less instances when you break traction as the next gear engages... so far easier to live with and useable in my opinion.
Also makes it more involving and fun when 'on it' too.
Cheers,
Grant
Ignore the people who frown at leasing.
Ignore the people who frown at leasing.
No details on number of months etc.
If it is 3 months down and 48 months payments, you have then paid more than the retail price and have to hand the car back after the terms...
Ignore the people who frown at leasing.
Ignore the people who frown at leasing.
No details on number of months etc.
If it is 3 months down and 48 months payments, you have then paid more than the retail price and have to hand the car back after the terms...
I suppose it depends what Carpool wants to achieve. Good information on the merits of different ways of getting a nice car, but less about using it.
It would be good to hear about it after the European trip, driver training, and with a link to the in-car Ring footage - I know the owner intends to take a Ring Taxi, but the temptation will be too much
If it's leased, I reckon you can't track it, even on a Ring TF...
Confused about why there is an APR if it's leased.
I would say if APR is mentioned then it isn't leased, in the contract hire sense.
It will be a PCP deal instead - deposit (instead of 'Advance Rentals'), monthly payment, end of term residual value to pay to own or just hand the car back, mileage limited. 4.5% APR is a good rate nonetheless.
Ignore the people who frown at leasing.
No details on number of months etc.
If it is 3 months down and 48 months payments, you have then paid more than the retail price and have to hand the car back after the terms...
Your Lease Offer - £2k + 3yrs/36mths @ £856 = £32,816. Then you give the car back and have to walk home?
I would make a guess (looking at original RS3 values) that you would still get £30k used after 3 years. Therefore if you bought new and sold after 3 yrs, you would only lose £12k.
Agree with other posters; sounds like pcp over a lease.
If anyone is interested I lease a £42k 335d touring for £397 a month over 2 years with £2,400 down and mileage limit of 10k pa. That includes servicing & tyres too.
Makes the RS3 prices quoted look a bit steep.....
Your Lease Offer - £2k + 3yrs/36mths @ £856 = £32,816. Then you give the car back and have to walk home?
I would make a guess (looking at original RS3 values) that you would still get £30k used after 3 years. Therefore if you bought new and sold after 3 yrs, you would only lose £12k.
If it is a PCP, at the end of the term he has the option of buying a car worth £30k for significantly less than £30k i.e. whatever the GFV figure is.
And why pay for a 5 year service pack if you've only got it for 3yrs?
Note: the M1 button is programmable! That's the idea, you set the settings your want then hold the M1 button till it beeps, then he presto settings memorised..
Enjoy it...
Gassing Station | General Gassing | Top of Page | What's New | My Stuff