M5 related man maths

[quavey]

So with all this talk of F10 M5's being "cheap" to lease, all relative here I have been doing some man maths.

At the moment I have a 2002 E39 M5 in Titanium Silver few nice options and good looking car. I would value it around 7k ish for a private sale (thoughts?)

I have been looking at E60 M5's after being taken for a drive in one when they first came out and that V10 screaming at 8k+ rpm is a memory that has stuck with me ever since. I promised my self that day I would own one. I have seen you can buy a fairly nice one for 17k or so, I know there are cheaper ones but never a fan of buying the very cheapest car for sale as its normally on the cheap side for a reason so lets say the purchase price is 17k.

Firstly, over two years what would the value of the car be expected to be, perhaps 12k? Or am I to pessimistic?
I'm going to assume it will need tyres and brakes at some point which I suspect would be around £2000
Warranty, £1000 pa? (£2000 total)
Tax £500 pa (£1000 total)
Service perhaps once in the two years £600 maybe? All depends on where the car is at with CBS I know.

£5600 in total of the two years

If its going to average 18mpg (as bmw say, probably less) then 8k miles pa is £2750 ish (£5500 over 2 years)

---

If I compare this to an F10 M5 based on £7000 down my quick quote from BMW came in at £478 a month for 24 months = £18472
Second year tax - £500
That's all the costs I can think of?

Assuming it manages what BMW say @28mpg then 8k miles pa = £1800 (£3600 in total)

2k saving in the fuel alone.

So if I work this out, the cost of E60 ownership to me is £5k depreciation, £5600 running and £2000 in fuel (over the F10) = £12600


Total cost of the F10 £18972

£7372 premium to have a brand new M5 over the E60.

So what I want to ask after the rambling and endless numbers, am I mad to consider the F10 as I am literally throwing away £19k over the two years, should I have an E60 for two years or so and by that time the F10's will be at a price where they can be picked up over finance to actually own it rather than just pay the depreciation.

The biggest problem I have at this stage is that I am lucky enough to be able to afford to spend £478 a month on a car but its whether I can actually justify it!

[rassi]

Sold my E60 after 8 months, while I had my E39 for 5 years: in your position I would test drive the E60 and F10 properly to see which one appeals most. The E60 is a screamer, while the F10 is extremely torquey. Whether the price difference is worth getting the F10 is purely man maths but a 17K E60 is likely to have some expensive issues, of course negated by warranty but still it will be a 7-8 year old car compared to a brand new one.

[Cambell]

While yes, the E60 M5 can be / is an expensive car to own, you must factor this into your purchase. My E60 has cost me £2800 in 18 months but if I'm honest, only £520 of it was essential, the rest of it was purely through choice. Fuel is a factor, I recon I average 18mpg across the board. Do I regret my purchase ? Absolutely not !!!!

[Froomee]

Buy a E60 used from BMW and negotiate two years warranty and the first years tax into the price.... there are quite a few on there at the moment for around £18k.

If you ensure the brakes and tyres are decent beforehand the only cost you will have over two years will be an extra years tax (£500), a service (£300 if oil) and maybe a set of rear tyres (£500)

Edited by Froomee on Wednesday 25th September 08:48

[sumo69]

Perhaps its me but isnt there a big problem with your analysis above??

Lets get to 2 years time - you buy the E60 and you still have it as its yours, you lease the F10 and it goes back to BMW and you have no car!!!

David

[Rick101]

Yes, I think you have to account for the residual value of the E60 and knock that off the £12K

[quavey]

sumo69 said:

Perhaps its me but isnt there a big problem with your analysis above??

Lets get to 2 years time - you buy the E60 and you still have it as its yours, you lease the F10 and it goes back to BMW and you have no car!!!

David

Yes, that is where the 12k estimated value of the E60 comes in, if its worth 12k at the end but I would have had to spend so much on it that its only worth something like 7k by the end.

But yes that is the problem that at the end I would need to then buy another car, or lease something else. Its probably a slippery slope that I don't want to head down!

Maybe I should just stick with the E39...! Its a fab car I just wish it hadn't done so many miles, I almost feel bad using it! As much as I love the looks of the E39 they do look a tad dated these days.

[Schermerhorn]

quavey said:

sumo69 said:

Perhaps its me but isnt there a big problem with your analysis above??

Lets get to 2 years time - you buy the E60 and you still have it as its yours, you lease the F10 and it goes back to BMW and you have no car!!!

David

Yes, that is where the 12k estimated value of the E60 comes in, if its worth 12k at the end but I would have had to spend so much on it that its only worth something like 7k by the end.

But yes that is the problem that at the end I would need to then buy another car, or lease something else. Its probably a slippery slope that I don't want to head down!

Maybe I should just stick with the E39...! Its a fab car I just wish it hadn't done so many miles, I almost feel bad using it! As much as I love the looks of the E39 they do look a tad dated these days.

This is the problem with the E39. It still looks very '1990s' whereas the E60 - even if it was launched today - would look bang up to date. Bangle's design has aged very very well in my opinion. Get it in the right colour and you have an ageless machine.

[JapFreak786]

18mpg in an E60 M5 won't happen IMO, I averaged 13mpg...

Two different types of cars, I miss my M5 the most out of all the car's I have owned!

[quavey]

JapFreak786 said:

18mpg in an E60 M5 won't happen IMO, I averaged 13mpg...

Two different types of cars, I miss my M5 the most out of all the car's I have owned!

This is what I was afraid of! My biggest sticking point is just the catastrophic fuel consumption. I bloody hate putting fuel in cars, I don't actually mind paying for it its just putting it in that drives me mad! I find my E39 does 20mpg which I think is brilliant!

[scoobyc]

quavey said:

I don't actually mind paying for it its just putting it in that drives me mad!

Wrong car for you then mate! I had an E63 M6 and I didn't mind the consumption but having to fill up every 200 miles was a pita Other than that car was great though.

[Cheburator mk2]

JapFreak786 said:

18mpg in an E60 M5 won't happen IMO, I averaged 13mpg...

Two different types of cars, I miss my M5 the most out of all the car's I have owned!

My E61 M5 averaged 19mpg... Mostly motorways and A-roads... Let's just say that the rev needle was rarely below 3000rpm in 7th...

[Zod]

quavey said:

E60 M5..........

.............If its going to average 18mpg (as bmw say, probably less) then 8k miles pa is £2750 ish (£5500 over 2 years)

[King Eric]

Whatever happens you will lose that money and as Sumo says end up with nothing. If I were you I'd get an E60 if you can afford to (just got one myself) and then in a couple of years time trade it in for a used F10 on a much reduced price and deal enabling you to own it at the end. If you get them to give you a second years warranty (cost to them only £500!) then when you punt it in on exchange they can sell it as AUC car if the tyres are good and the brakes are good too. Then that way you can get a good deal chopping it in.

I'm in two minds in a similar man math situation with a £30k deposit option on a new one. Seems you can't put more than 30% deposit into one with BMW.

[Cambell]

JapFreak786 said:

18mpg in an E60 M5 won't happen IMO, I averaged 13mpg...

Two different types of cars, I miss my M5 the most out of all the car's I have owned!

I average a combined 18 in mine, I'm no Miss Daisy but I dont drive it like a tool either (all of the time). 18mpg average is easily doable in an E60 M5

Edited by Cambell on Wednesday 25th September 16:01

[JapFreak786]

Hmm fair points made, my M5 was used as my daily for local town/city driving with hardly any motorway use. Depends on your driving style but the reading on the iDrive can be different to what the real MPG you are getting..

I didn't drive mine to the redline or anything, but I enjoyed the noise from the muffler delete, espically when giving it the right foot fro 2500 rpm up tp 4000rpm, that induction roar and exhaust, ah man how I miss mine

Edit - My friend can do North London to Birmingham using £20 of fuel, sitting at 60mph on cruise control the entire journey I think he said

Edited by JapFreak786 on Wednesday 25th September 16:42

[scoobyc]

18mpg still equals 200 miles between fill ups if I remember correctly

[Jaroon]

I'd suggest taking your time over this difficult decision, till about Janurary then PM me the details of your car. I don't mind leggy as long as it's been looked after and as I do about 3k/year it'll be back to average mileage in a few years

Man maths aside, I'd go with the E60, tick the box and then go used F10 in a couple of years with the E60 for deposit and monthly payments to actually own the car imo.

[quavey]

Jaroon said:

I'd suggest taking your time over this difficult decision, till about Janurary then PM me the details of your car. I don't mind leggy as long as it's been looked after and as I do about 3k/year it'll be back to average mileage in a few years

Man maths aside, I'd go with the E60, tick the box and then go used F10 in a couple of years with the E60 for deposit and monthly payments to actually own the car imo.

Message received! I wouldn't be doing anything until next spring at the earliest. To much to pay of from doing my house up but that should all be done by February! I'm afraid my old girl is a big leggy @ 123k as she stands now but does drive so well. New front brakes on order and a pair of pilot sport 3's to fit next week to sharpen the front end a bit. Also got a few owners on her which does annoy me a bit, I think she suffered from a year or two of being passed between people that expected 35mpg etc.

As for the F10 I had a usual sarcastic comment from the other half who declared she would be mad at me if I leased one, promptly followed up by declaring she would look fit in it! I did agree, but then after showing her an E60 she claimed it looked the same as the E39 (women eh) and stated that as I had an M5 already what was the difference!

[Cambell]

quavey said:

Also got a few owners on her which does annoy me a bit, I think she suffered from a year or two of being passed between people that expected 35mpg etc.

Agreed, I'm actually the 10th owner of a 2005 car in exceptional condition which now has 68,000 miles on it, 10,000 of which I've put on in 18 months. I can only put this down to previous owners expecting more economy.