About to sell my M5 F10 and lease an M2 - why shouldn’t I?
Discussion
I’ve had an F10 M5 for 18 months and 18,000 miles and absolutely loved it.
It’s an incredible car, sophisticated but animal, involving (but as long as the electronics are on) not too scary!!
But given I bought it on BMW finance, the running costs are a little sore!
So I can lease a brand new M2 Competition DCT with maintenance for about £50 a month more than the monthly repayment on the M5.
Add in the tax, “free” tyres etc surely it’s a winner!?
Anyone give me a good reason why I shouldn’t ?
It’s an incredible car, sophisticated but animal, involving (but as long as the electronics are on) not too scary!!
But given I bought it on BMW finance, the running costs are a little sore!
So I can lease a brand new M2 Competition DCT with maintenance for about £50 a month more than the monthly repayment on the M5.
Add in the tax, “free” tyres etc surely it’s a winner!?
Anyone give me a good reason why I shouldn’t ?
TAZ 215 said:
I’ve had an F10 M5 for 18 months and 18,000 miles and absolutely loved it.
It’s an incredible car, sophisticated but animal, involving (but as long as the electronics are on) not too scary!!
But given I bought it on BMW finance, the running costs are a little sore!
So I can lease a brand new M2 Competition DCT with maintenance for about £50 a month more than the monthly repayment on the M5.
Add in the tax, “free” tyres etc surely it’s a winner!?
Anyone give me a good reason why I shouldn’t ?
Presumably there's a chunk of negative equity? Putting 1k miles per month on a new M5 for 18 months, which i'm guessing isn't even half way through your finance deal will surely mean the outstanding balance is (lots) more than the value of the car?It’s an incredible car, sophisticated but animal, involving (but as long as the electronics are on) not too scary!!
But given I bought it on BMW finance, the running costs are a little sore!
So I can lease a brand new M2 Competition DCT with maintenance for about £50 a month more than the monthly repayment on the M5.
Add in the tax, “free” tyres etc surely it’s a winner!?
Anyone give me a good reason why I shouldn’t ?
Sensible approach would be to stick with the finance deal to the end on the M5 so that you're in a better position with some equity your way. And by then the M2 Comp will have taken an initial depreciation hit, then look at financing one possibly with a bank loan to keep interest down.
Thanks for the comments, The M5 is a 13 plate and I should be able to walk away without any negative equity.
My key reason for the swap is certainty, the running costs of the M5 have been biblical!
The lease costs should cover everything except insurance and fuel making life more predictable.
My key reason for the swap is certainty, the running costs of the M5 have been biblical!
The lease costs should cover everything except insurance and fuel making life more predictable.
bmwmike said:
That's why I'm asking. I keep going back and forth onwhether I'd get an m5 or not and out of e60, e39,f10 I had the f10 pegged as the cheapest to run excl depreciation. Maybe thats wrong but they seem pretty robust.
I'd not get one without a warranty. Drive train issues and rod bearing issues are starting to appear a bit more.TAZ 215 said:
My key reason for the swap is certainty, the running costs of the M5 have been biblical!
I am into my 2nd year of f10 M5 ownership and this is the cheapest to run M5 I have ever owned. Re the comment about high apr on bmw finance, nobody pays anything like their advertised rate - I know I am not.
My car has the 5 year service pack so I haven’t even had to pay for any servicing work.
S
skeeterm5 said:
TAZ 215 said:
My key reason for the swap is certainty, the running costs of the M5 have been biblical!
I am into my 2nd year of f10 M5 ownership and this is the cheapest to run M5 I have ever owned. Re the comment about high apr on bmw finance, nobody pays anything like their advertised rate - I know I am not.
My car has the 5 year service pack so I haven’t even had to pay for any servicing work.
S
Ran an F10 M5 CP for 5/6 months and covered well over 5k miles in that time with the only costs being tax, fuel and insurance.
Wouldn't have cost much even if I had kept it longer as it still had 18 months AUC warranty and 13 months of the service plan still to run when I sold it.
zainster said:
skeeterm5 said:
TAZ 215 said:
My key reason for the swap is certainty, the running costs of the M5 have been biblical!
I am into my 2nd year of f10 M5 ownership and this is the cheapest to run M5 I have ever owned. Re the comment about high apr on bmw finance, nobody pays anything like their advertised rate - I know I am not.
My car has the 5 year service pack so I haven’t even had to pay for any servicing work.
S
Ran an F10 M5 CP for 5/6 months and covered well over 5k miles in that time with the only costs being tax, fuel and insurance.
Wouldn't have cost much even if I had kept it longer as it still had 18 months AUC warranty and 13 months of the service plan still to run when I sold it.
TheAngryDog said:
I'd not get one without a warranty. Drive train issues and rod bearing issues are starting to appear a bit more.
Ditto.The biggest running costs on mine have been fuel (obviously), tyres, tax and insurance. Only had one reliability issue and that was the air conditioning condenser, which was replaced under warranty.
I think I'll sell up though, I'm not using it anywhere near enough to justify the cost.
theboss said:
hertfordshire1 said:
I ran an a M5 from 2015 til this year when I swapped into a new X5M.
X5M makes the M5 look like a Prius, with regards to running costs..
In what respect? I’d imagine fuel and tyres are dearer but apart from that?X5M makes the M5 look like a Prius, with regards to running costs..
Fuel is the main thing - I know its bigger and heavier, thus will do worse MPG but I wan't expecting 17...
As with M5, got the service pack, so that part won't cost much, brakes are the same and so should cost roughly the same to replace too...
Cheers
I reflected on my cost statement whilst talking to my independent garage.
Key issue was coming from a Golf R on a fully maintained lease and 40mpg an M5 was always going to be more. More in every sense; costs, power, refinement, driving pleasure.
My finance was in hindsight perhaps foolish, no money down and BMW finance, should have just paid cash.
Biggest cost is fuel, driving everywhere noisily is great fun but pricey.
Reliability wise, like others - no issues.
As my indie said, for the performance the M5 is an absolute monster but servicing can be quite reasonable - oil and filter change this week at 40,000 miles cost £280. Brakes checked and reset for another 10,000 miles. 4 new tyres £1,030
So I really shouldn’t complain, I have absolutely loved everything about the M5.
The attraction of the M2 is the lower and fixed monthly cost.
I considered another R, a way cheaper option but can’t shake the M bug!
Apologies to anyone now worried by my initial statement on huge costs! They are what they are, you’re running a 550bhp monster, it isn’t cheap motoring but still If you get the chance you must do it!
Key issue was coming from a Golf R on a fully maintained lease and 40mpg an M5 was always going to be more. More in every sense; costs, power, refinement, driving pleasure.
My finance was in hindsight perhaps foolish, no money down and BMW finance, should have just paid cash.
Biggest cost is fuel, driving everywhere noisily is great fun but pricey.
Reliability wise, like others - no issues.
As my indie said, for the performance the M5 is an absolute monster but servicing can be quite reasonable - oil and filter change this week at 40,000 miles cost £280. Brakes checked and reset for another 10,000 miles. 4 new tyres £1,030
So I really shouldn’t complain, I have absolutely loved everything about the M5.
The attraction of the M2 is the lower and fixed monthly cost.
I considered another R, a way cheaper option but can’t shake the M bug!
Apologies to anyone now worried by my initial statement on huge costs! They are what they are, you’re running a 550bhp monster, it isn’t cheap motoring but still If you get the chance you must do it!
TAZ 215 said:
I reflected on my cost statement whilst talking to my independent garage.
Key issue was coming from a Golf R on a fully maintained lease and 40mpg an M5 was always going to be more. More in every sense; costs, power, refinement, driving pleasure.
My finance was in hindsight perhaps foolish, no money down and BMW finance, should have just paid cash.
Biggest cost is fuel, driving everywhere noisily is great fun but pricey.
Reliability wise, like others - no issues.
As my indie said, for the performance the M5 is an absolute monster but servicing can be quite reasonable - oil and filter change this week at 40,000 miles cost £280. Brakes checked and reset for another 10,000 miles. 4 new tyres £1,030
So I really shouldn’t complain, I have absolutely loved everything about the M5.
The attraction of the M2 is the lower and fixed monthly cost.
I considered another R, a way cheaper option but can’t shake the M bug!
Apologies to anyone now worried by my initial statement on huge costs! They are what they are, you’re running a 550bhp monster, it isn’t cheap motoring but still If you get the chance you must do it!
Keep the M5 you'll probably lose less depreciation than it costs you to maintain. That's how I look at things with my man maths head onKey issue was coming from a Golf R on a fully maintained lease and 40mpg an M5 was always going to be more. More in every sense; costs, power, refinement, driving pleasure.
My finance was in hindsight perhaps foolish, no money down and BMW finance, should have just paid cash.
Biggest cost is fuel, driving everywhere noisily is great fun but pricey.
Reliability wise, like others - no issues.
As my indie said, for the performance the M5 is an absolute monster but servicing can be quite reasonable - oil and filter change this week at 40,000 miles cost £280. Brakes checked and reset for another 10,000 miles. 4 new tyres £1,030
So I really shouldn’t complain, I have absolutely loved everything about the M5.
The attraction of the M2 is the lower and fixed monthly cost.
I considered another R, a way cheaper option but can’t shake the M bug!
Apologies to anyone now worried by my initial statement on huge costs! They are what they are, you’re running a 550bhp monster, it isn’t cheap motoring but still If you get the chance you must do it!
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