Supercar or super car? The decision to buy the F10 M5!
Discussion
This all began a few years ago with a dream of owning a Murcielago. To me this car represented a work of art...stunningly gorgeous and earlier this year I almost bought one...almost!
The problem is that for the age of car I was looking at it meant that a warranty (a trust-worthy warranty) didn't exist and certainly not a manufacturer's warranty. So do I push myself financially and spend £80k - £90k on a car that could go bang at any moment? a car that I can only use when time permits? a car that I'd have to keep in storage when I wasn't using it? It sounds like a no-brainer but when you want something so badly you try and justify it from every angle but in the end I came to my sense. The saying that it's not enough to afford to buy a supercar, you also need to be able to afford to run one is so true!
Then I go to Goodwood FOS and happen upon the BMW stand displaying the F10 M5.
Fresh from my reality check with the Lambo I drooled but didn't pay too much attention until I saw the MPG. The company I work for has 1 rule regarding the issuing of their fuel cards. The card can only be used on a vehicle that does a combined MPG of 28 or more (M5 F10 - 28.5 MPG).
On my return from Goodwood I did some checking with my employer and they had no objections so next was to find a car: -
BMW Wakefield had a Monte Carlo Blue, with Silverstone interior.
BMW Lincoln had a Monte Carlo Blue, with black interior.
Went to see both cars but the Wakefield car was such a far better car so next was "doing the deal".
2/5 years warranty remaining + service pack included (so no service costs for years) + tracker installed + fair price for my car + I can use this car every day + valid on company fuel card!
So I'm now the very proud owner of a stunning BMW M5 F10!
The only problem is it's a tight squeeze in my garage.
The problem is that for the age of car I was looking at it meant that a warranty (a trust-worthy warranty) didn't exist and certainly not a manufacturer's warranty. So do I push myself financially and spend £80k - £90k on a car that could go bang at any moment? a car that I can only use when time permits? a car that I'd have to keep in storage when I wasn't using it? It sounds like a no-brainer but when you want something so badly you try and justify it from every angle but in the end I came to my sense. The saying that it's not enough to afford to buy a supercar, you also need to be able to afford to run one is so true!
Then I go to Goodwood FOS and happen upon the BMW stand displaying the F10 M5.
Fresh from my reality check with the Lambo I drooled but didn't pay too much attention until I saw the MPG. The company I work for has 1 rule regarding the issuing of their fuel cards. The card can only be used on a vehicle that does a combined MPG of 28 or more (M5 F10 - 28.5 MPG).
On my return from Goodwood I did some checking with my employer and they had no objections so next was to find a car: -
BMW Wakefield had a Monte Carlo Blue, with Silverstone interior.
BMW Lincoln had a Monte Carlo Blue, with black interior.
Went to see both cars but the Wakefield car was such a far better car so next was "doing the deal".
2/5 years warranty remaining + service pack included (so no service costs for years) + tracker installed + fair price for my car + I can use this car every day + valid on company fuel card!
So I'm now the very proud owner of a stunning BMW M5 F10!
The only problem is it's a tight squeeze in my garage.
Edited by JCHill on Friday 27th July 18:15
Your fuel card policy sucks, I bet you won't get 28mpg! I just a get sigh when people see my V10 fuel card bill at less than 17mpg....
Haven't stopped smiling since! I know there's the ongoing discussions about E60 v F10 and never having driven the V10 version I can't really comment other than to say, as an all rounder, I can imagine a car being any better than the F10 M5. Supercar performance, with saloon practicality, fantastic build quality and that gear change has to be experienced to be believed! Incredible!
That is awesome. Company car where you don't have to worry about putting your right foot down and someone else can foot the runnings costs! I get a car allowance and run the V10 with it so I'm more than happy but I'd love the company to foot the expense.
Mind you I bet you are paying a nice amount in tax based on list and the CO2! Ouch!
Mind you I bet you are paying a nice amount in tax based on list and the CO2! Ouch!
Contigo said:
Mind you I bet you are paying a nice amount in tax based on list and the CO2! Ouch!
It doesn't look like it's a company car - it looks like he's 'opted out' but can only use the fuel card on a car that gets more than 28mpg on the official cycle....which this does. Just.No company car tax based on CO2 b
ks, he'll be taxed on the car allowance at his prevailing tax rate.Funk said:
It doesn't look like it's a company car - it looks like he's 'opted out' but can only use the fuel card on a car that gets more than 28mpg on the official cycle....which this does. Just.
No company car tax based on CO2 bks, he'll be taxed on the car allowance at his prevailing tax rate.
Exactly right mate! I opted out years ago when it became crazy to pay 'new prices' for a nice car when you could buy a great car (albeit 12 months old) for thousands less.No company car tax based on CO2 b
ks, he'll be taxed on the car allowance at his prevailing tax rate.The 'gotcha' is the fuel card. Sure you can fuel anything yourself but the fact that the F10 M5 qualified for the company fuel card meant the decision was a no-brainer! ;-)
Contigo said:
That is awesome. Company car where you don't have to worry about putting your right foot down and someone else can foot the runnings costs! I get a car allowance and run the V10 with it so I'm more than happy but I'd love the company to foot the expense.
Mind you I bet you are paying a nice amount in tax based on list and the CO2! Ouch!
I'm doing the same as you Phil. Just on an F10 with BMW picking up the servicing and any repair bills! The dilemma will be once the manufacturers warranty stops...but for now I'm just enjoying every mile.Mind you I bet you are paying a nice amount in tax based on list and the CO2! Ouch!
JCHill said:
I'm doing the same as you Phil. Just on an F10 with BMW picking up the servicing and any repair bills! The dilemma will be once the manufacturers warranty stops...but for now I'm just enjoying every mile.
Quality mate, enjoy!I wish I had the fuel car but then again I do get business miles up to 40p which just about gets me the journey free. I tend to use the snotter to do most of the business miles as it means money in the back pocked.
I drove the F10 a few weeks back and was mighty impressed with the feel and performance. Not sure I'd replace the E61 with one just yet but it is a nicer place to be if you are spending many hours in the cockpit.
Contigo said:
Quality mate, enjoy!
I wish I had the fuel car but then again I do get business miles up to 40p which just about gets me the journey free. I tend to use the snotter to do most of the business miles as it means money in the back pocked.
I drove the F10 a few weeks back and was mighty impressed with the feel and performance. Not sure I'd replace the E61 with one just yet but it is a nicer place to be if you are spending many hours in the cockpit.
The downside with the fuel card is that it's a taxable perk. But a P87 claim submitted each year just about balances everything out.I wish I had the fuel car but then again I do get business miles up to 40p which just about gets me the journey free. I tend to use the snotter to do most of the business miles as it means money in the back pocked.
I drove the F10 a few weeks back and was mighty impressed with the feel and performance. Not sure I'd replace the E61 with one just yet but it is a nicer place to be if you are spending many hours in the cockpit.
mondie said:
I too get a fuel card to keep my M5 on the road. As a newcomer to the UK whats a P87? I have some business use but probably <20%
Cheers
Simon
Hi SimonCheers
Simon
The P87 is an expenses claim form from the Inland Revenue. It's not a 'meaty' as the self assessment form (although that can be used instead). There are limits on the amounts you can claim with it (unlike the self assessment form) but it can be download here...
http://www.hmrc.gov.uk/forms/p87.pdf
...it's only valid if you use your own car for business and don't already claim fuel back through your employer's current expenses system (if your employer already pays your 45p per mile) and it's only valid for business miles. As I do a lot of business miles it makes sense but, to be honest, I'd claim even if I only did a couple of hundred miles as my fuel card is taxed regardless.
Edited by JCHill on Thursday 9th August 19:24
Edited by JCHill on Thursday 9th August 19:32
Edited by JCHill on Thursday 9th August 19:40
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