Brand new Z4?

[Calculator]

Right, I posted a while back on Z4 vs Cayman. Anyway, the better half has decided she wants the Z4 and we have found a nicely spec'd 23i M Sport at a dealer. List is £37.5k inc delivery and they'll do it for £30k (its registered to the dealer but delivery miles.

This got me thinking, is it financial suicide to buy one of these brand new? I realise there are more interesting cars out there for the money but it meets her needs perfectly and comes with warranty, 5yr servicing etc so it'll be minimum hassle. Its only do c. 5k pa and she'll probably keep it for 2yrs.

Anyone care to offer thoughts on this as a purchase? Likely to drop like a stone given ongoing economic uncertainty etc?

The other option is to PCP it with a guaranteed future value (£15k in 3yrs). The only issue with this is that BMWs APR is 10.6%, though I would speak to a broker. Surely 8-9% is achievable?

Thanks in advance

[War Pig]

All new cars are a terrible waste of money. Buy a ten year old Focus for a grand

If you can afford the finance and live with losing £££ over a couple of years. Why not? I'd like a brand new Z4.

[kambites]

Well it's a 30k new car, it will lose a lot of money.

[homerjay]

It's a 37k car new

30k Is a good deal but it's still gonna lose another 6k in 1st year, 4k the 2nd and 2k in every year after that I reckon.

I've just been through this with a 4 year
old z4 and no matter how much I pushed I couldn't get less than 11% after fees. That was 4.25% flat which I think is fairly reasonable on a used car.

Edited by homerjay on Saturday 6th November 17:50

[theboss]

What would a comparably specced 35i or 30i cost if you decided you could live with a 'nearly' new one instead of being the first owners? I expect the more powerful models won't cost much more to run and would be much more sought after come disposal time.

[Wills2]

Calculator said:

Anyone care to offer thoughts on this as a purchase? Likely to drop like a stone given ongoing economic uncertainty etc?

The other option is to PCP it with a guaranteed future value (£15k in 3yrs). The only issue with this is that BMWs APR is 10.6%, though I would speak to a broker. Surely 8-9% is achievable?

Thanks in advance

The GFV on your PCP quote gives you the answer to your question its worth 15k after 3 years. So you will lose 15k from the 30k asking price over the 3 year period whether you pay cash or finance.

Lovely car....just buy it.

[bazking69]

30k is a good deal on the car, but from a financial investment point depreciation is always going to be something with the potential to keep you awake at night

[Wills2]

bazking69 said:

30k is a good deal on the car, but from a financial investment point depreciation is always going to be something with the potential to keep you awake at night

You know you are going to lose money before you buy it so shouldn't you factor that into the decision making process?

That way you won't have trouble sleeping.

[amirzed]

Calculator said:

This got me thinking, is it financial suicide to buy one of these brand new?

Buddy, it's not financial suicide - it might not be the best financial decision you ever make but all cars depreciate. If you can afford it and you want it, then enjoy it!

[carl_w]

Z4 2.3i is always going to be worth more than an equivalent 3-series or 5-series IMHO.

Edit: best I managed on BMW finance was 9.9% when they were trying to give the things away in the latter half of 2008.

Edited by carl_w on Sunday 7th November 01:11

[H_Kan]

As has been said, if you are happy with the depreciation, which will likely be another £10k on purchase price over 10 years then go for it.

I'd personally look at something like this, http://www.pistonheads.com/sales/2235871.htm

Try and get a few hundred quid off and even after 2 years it'll only have 25,000 miles. Probably still be worth in the high teens so bit less in terms of depn.

[kambites]

H_Kan said:

As has been said, if you are happy with the depreciation, which will likely be another £10k on purchase price over 10 years then go for it.

I'd personally look at something like this, http://www.pistonheads.com/sales/2235871.htm

Try and get a few hundred quid off and even after 2 years it'll only have 25,000 miles. Probably still be worth in the high teens so bit less in terms of depn.

I think "high teens" is optimistic for a 3 year old, small(ish) engined, Z4. Judging by current 3 year old Z4s (which admittedly are now a superceded model) I'd say that'd be worth around 15k in two years.

As someone said above, cars always depreciate (except in a few very special cases). If the OP is happy with losing 10k over two years in depreciation, then he should go for it. if he's not, he should buy a cheaper car. Personally, I favour buying cars at 3-4 years old, but only because that seems to be a happy compromise for me.

Edited by kambites on Sunday 7th November 11:16