Re buying my old M5 - Decision justified
Discussion
So hope this may be the one place where I will get some support rather than cries of utter madness.
Bought a new F10 M5 early in 2012 before the 0% finance deals came out. Was paying 8.9% APR on a 3 year finance deal with balloon at end. Had it for approx. 18 m and put 30000 miles on it. Decided I wanted an out and out sports car for weekends and a more practical daily drive car that would cope with taking dog to park or popping down the garden centre so sold it back to dealer for an approved used X5 3.0D and used the cash balance as deposit on a 5 year old Ferrari 599 (had just turned 40, overweight and going bald so just indulge my vanity on that decision).
Anyway 6 m later and not a day had gone by where I didn't miss the M5 and all its toys, my finances eased further and I was watching my own car sitting on the approved used car network clearly not selling due to the high number of cars around and its high mileage. Price was dropping and dropping until was now several thousand less than price I got for it in the trade back deal 6m earlier. I knew its history and that it had been well looked after and did some of the man maths again and a nasty thought started to take hold in my mind; OK I might struggle to take the dog out a couple of times a year but I have to put up with the emotionally dead X5 as my daily drive everyday. A few days later and a couple of phone calls to my bank and the dealer about trading back my current car and here I am having bought my old M5 again!
No doubt ive taken a battering somewhere along the line financially but I'm now back in the M car family and it feels great. Now if I can only get in touch with the guy who I sold my winter alloys/tyres to!
Bought a new F10 M5 early in 2012 before the 0% finance deals came out. Was paying 8.9% APR on a 3 year finance deal with balloon at end. Had it for approx. 18 m and put 30000 miles on it. Decided I wanted an out and out sports car for weekends and a more practical daily drive car that would cope with taking dog to park or popping down the garden centre so sold it back to dealer for an approved used X5 3.0D and used the cash balance as deposit on a 5 year old Ferrari 599 (had just turned 40, overweight and going bald so just indulge my vanity on that decision).
Anyway 6 m later and not a day had gone by where I didn't miss the M5 and all its toys, my finances eased further and I was watching my own car sitting on the approved used car network clearly not selling due to the high number of cars around and its high mileage. Price was dropping and dropping until was now several thousand less than price I got for it in the trade back deal 6m earlier. I knew its history and that it had been well looked after and did some of the man maths again and a nasty thought started to take hold in my mind; OK I might struggle to take the dog out a couple of times a year but I have to put up with the emotionally dead X5 as my daily drive everyday. A few days later and a couple of phone calls to my bank and the dealer about trading back my current car and here I am having bought my old M5 again!
No doubt ive taken a battering somewhere along the line financially but I'm now back in the M car family and it feels great. Now if I can only get in touch with the guy who I sold my winter alloys/tyres to!
Definitely the right decision. Years ago my Dad sold his Sapphire Cosworth back to the Ford dealer as he needed to get two vehicles from just one for his business. Almost 2 years (!) later and the Cossie was still sat in the showroom, having done nothing. A deal was struck and he bought it back. Fantastic feeling!
MattOz said:
Definitely the right decision. Years ago my Dad sold his Sapphire Cosworth back to the Ford dealer as he needed to get two vehicles from just one for his business. Almost 2 years (!) later and the Cossie was still sat in the showroom, having done nothing. A deal was struck and he bought it back. Fantastic feeling!
Has he still got it?
msdes123 said:
Thanks for all the supporting comments, the prodigal son has finally returned home
Great photo and collection of cars.As much as I like the Fezza, I look at the back of my M5 when I get the opportunity and think wow......
Yours looks exactly the same, a work of art.
Well done, must be a great feeling to have your car home
Yeh getting rid of my winter tyres and alloys was a real bad decision in hindsight although I don't think any of my car decisions have ever been exactly sensible. Just hoping I get away without any snow this year as I'm really not in any fit financial state to shell out another £3K for another set of official BMW winter wheels at the moment.
For the record bought the car back for approx. £3.5K less than I sold it to the dealer approx. 5 m ago and got 2 of the diamond cut alloys refurbished and a couple of other small interior blemishes fixed in the process as well. Car had done a few hundred miles in test drives only whilst sitting unsold at dealers all that time, fortunately for me the only interested parties that went for it got turned down for finance I was told. I still lost out big time on the trade back prices I was offered on the X5 and 3 series touring I went through in the interim before finally coming back to the M5. Thank god for that 0% finance deal on new cars, I think it really hit the approved used car sales big time.
Photo is interesting as it really shows how wide the 599 is next to the M5. Despite being a 2 seater its a really big car.
For the record bought the car back for approx. £3.5K less than I sold it to the dealer approx. 5 m ago and got 2 of the diamond cut alloys refurbished and a couple of other small interior blemishes fixed in the process as well. Car had done a few hundred miles in test drives only whilst sitting unsold at dealers all that time, fortunately for me the only interested parties that went for it got turned down for finance I was told. I still lost out big time on the trade back prices I was offered on the X5 and 3 series touring I went through in the interim before finally coming back to the M5. Thank god for that 0% finance deal on new cars, I think it really hit the approved used car sales big time.
Photo is interesting as it really shows how wide the 599 is next to the M5. Despite being a 2 seater its a really big car.
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