Getting an M5 at 21 while a student?

[Slow]

V8RX7 said:

Jesus...

Bear in mind I'm now 39... again...

At 21 I was a student and my car history included:

Golf GTi MkI and II
MkI Escort V6 with triple carbs
MKII Escort
Opel Manta
Mitsubishi Starion

Currently I have an RX7 Turbo, Supercharged MX5, Modified Forester...

Go try an MX5 2.0 Sport and report back.

Oooh that reminded me, had a mk3 golf gti for a while too, was decent even though it was quite slow.

Driven a mx5 and I dont get on with it. Im 6 foot 4 and I just dont fit in any comfortable way.

[Slow]

daemon said:

Slow said:

daemon said:

Slow said:

GTIAlex said:

V8RX7 said:

You're 21 - not 51 why keep buying old men's cars ?

Sports cars, hot hatches, coupes...

Exactly.


Lets face it, hes not going to buy an M5.

Boring pointless thread with no conclusion.
Discussion will dry up soon and it will die a death, leaving space for the next "oooo pistonheads shall I do this?" thread.

Sorry but have you seen my current cars? I drive a l322 Range Rover and an e38 730i, I enjoy my larger barges. My finances make buying an M5 a possibility. I came here to ask about the actual running costs of one and peoples opinions.

Post bills etc I have £600 a month spare as a bork fund etc is in my mind.

Surely thats your student grant money?

And that runs out in 3 months?

Might not have made sense in my first post.

Car is say £15k
I have 10-11k
Will finance 4-5k for like £200 a month
Get £600 a month for 9 months of the year for 3/4 years
Will also be working a evening and weekend job which covers all my bills (phone, insurance, broadband, sky, car tax etc)

This leaves me with the £600 purely to have as money for financing the M5, could make the payments over 4 years and only spend £100 a month, thus leaving me with £500 a month to run the car - assuming I dont do anything else of course.

Edit: Would point out said part time job is full time during the summer to make up for the lack of student loan money.

And that £600 a month is from a student loan right?

Which you will have to pay back? Long after the car is gone?

Yes of course, but if I didnt spend it on an M5 (i would be taking the loan either way) I would probably spend it on drugs+drinking. As others said, its virtually interest free.

I will get 15/20k as a student loan depending if I do 3 or 4 years. Only £4k of which would be spent on the finance for the M5 (if that makes sences). I will also be working all summer long so the loan needed for the car might only be circa 1k which I would just wait another month or 2.

[Slow]

GTIAlex said:

Must have been really hard earning that money...working part time with your mom at her offroad experience business. Although you did work there full time for a bit as a "offroad instructor/quad instructor/website creation/mechanic/dumper driver" (doing bits and bobs for you mom.

As you "had no real future ahead of you" you started uni and now want to use the student loan available to you, to buy an M5.

"Age 21, barely worked a job and no qualifications"
http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Maybe you could put some of the spare cash it to restoring your current bmw? Looks like it needs a fair amount of work.



The best bit...
http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Slow said:

Pretty much hypothetical as I am in no position to spend 10k on a car.

What is the fastest car you can get for 10k? Thinking along the lines of e55 amg.

Fastest as in bhp/0-60 including rear doors. The new performance saloons seem to boast so much power over the models just a few years before. Browsing autotrader as you do of course.

So are you in position or not to spend 10k on a car....

Worked full time for over a year but ok "part time". Its true, I have barely worked and have no qualifications, doesnt mean I havent earn money and im off to Uni to get the qualifications.

Have all the parts ready for my E30, just need my friend who can weld to have a free weekend now.

The thread about the 10k car was purely hypothetical, it had just crossed my mind one evening.

Only reason my M5 lust has come back is I saw a stunning one come rumbling past and after a look at the prices I can just about afford one. Hence wanting to know the running costs/expectations...

[Slow]

GTIAlex said:

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Slow said:

Looking at picking up a bmw e30 for a bit of a fun car. Would be a early 316/318/320 in manual I imagine. The 323/325 are fetching 2k+ all day long.

Plans would be to aim for a track car while learning to do work myself. So basic coilovers, stripped interior, bucket seats and wider wheels.

So really asking, what are people opinions on them? Bad/good idea?

Edit: Only 21 and starting uni next year so would be done on a budget.

Edited by Slow on Sunday 22 November 15:56

Stop being a fking dreamer and wasting everyones time.

In case you noticed, I did go out and buy a fking E30 if you read the thread.

Whats with the hunt for me? Are you just an angry little man who doesnt like the fact a 21 year old could buy an M5?

[Slow]

Can we bring this more back to the running costs of an M5, by someone who has/had one.

Im young, il make mistakes in my life with money + cars but its an experience il have for ever even if I go back to a cheaper car after a year or two.

[Slow]

Digby said:

I will have to check, but I'm sure my friend was paying over £100pm for his BMW warranty based on what you have said and the cost went up when the mileage did.

Do you know how long ago/old the car was?

That seems a very reasonable way to do it if the bills are as bad as people say.

[Slow]

hotchy said:

EazyDuz said:

Not everyone is into ladyboys

Again showing your lack of life experience. I actually want you to go buy an m5, just to teach you a lesson. I went to uni, i managed to own a half decent car. I travelled asia, america and europe during my 4 years there and the long summers off. guess what? Never needed a student loan. I have no debt now to repay.

yet here you are, getting yourself in 20k of debt. for what? Because its virtually interest free? Interest or no interest, it still needs paid back.

That wasnt even me (OP) who replied, probably owe that guy an apology there.

In regards to the debt, only 4k would be for the car? Could be as low as 1-2k really as im working full time during the summer too. The student loan is money to use while im in Uni. Yes I understand it will need to be paid back, I have no doubts of that though.

Why does it matter to you what I spend my money on either way? I was just asking about the running costs of an M5 really.

[Slow]

Op here.

Would just like to point out I've done the whole going out getting smashed every night - did it for almost a year straight when I had my flat, I'm sick of it. Could easily get my own place but I don't want to flat share and Inverness has no real student accommodation so I'm happy to stay at home, my mums house is large and doesn't charge rent so I would be stupid to move out really - especially as my mum needs my help.

For some reason everyone thinks an M5 is to impress people, it's not. Since I've been about 12/13 I've wanted an M5 and in my head the man maths finally worked.

In regards to picking up girls and nights out. Inverness is a st hole, you wouldn't want most of the girls here (ignoring the fact I have a girlfriend if you all must know), the bars and nightlife are just dire as well.


Thank you to the people who have given me useful responses on the running costs and not just slagged me off for how I want to spend MY own student loan. It's going to put me in debt - I know this, but I'm young with no real commitments so if it does break I can just sell it for a loss, which would still be enough to pay off the finance so I can just buy a small car again.

[Slow]

itcaptainslow said:

Go and do it then. Why do you need the approval of a load of Internet strangers for something you've already justified?

I just wanted to know the running costs etc that are assosiated with an M5. I don't need to be told that I'm getting into loads of debt, I understand that, I also don't want to know what else I could do with the money. I just want to know if it's affordable on my budget or not.

[Slow]

V8 TEJ said:

gregs656 said:

I am not seeing 10k out of your current metal. Your projected budget and costing seems like a bit of a fiction to me.

+1

Range Rover and a second set of wheels with 10 tyres is about £5-6k really as it's had gearbox,airbags,turbo,injectors,compressor done

E38 is probably about a grand once I've painted it, not painting to make money - just to learn

E30 once finished is about 4K for a 55k mile 3 door early chrome one, yes mine isn't nice yet but it's getting there

Cherry is a easy £1-2k I reckon as it has brand new wings/bonnet which il spray up so it will look fairly decent, had the turbo and head gasket done recently too

Got a pug 307 worth about £750 too

That's about 10-11k + whatever else I save on top working 40-50 hour weeks till September. Might be able to just buy an M5 outright.


But in regards to them costing super car levels on maintenance what else would PH suggest with a budget up to £15k or so? I need 4/5 seats and would much rather have rear doors as I'm 6 foot 4 so people struggle for space behind me.

[Slow]

Already said I have a girlfriend, not sure my cars have ever played a role in getting her. Will people stop making the getting girls line, I'm not worried about that.

[Slow]

white_goodman said:

There's no need to blow as much as 15k. Spend 5-10k and keep a fund for repairs. Don't take out a loan and pay it off with another loan! A lesser non-M 5, Audi B5 RS4, D2 Audi S8, Merc C/E-Class (C43/55 AMG possibly?), Jaguar S-Type R or XJR. All significantly cheaper to run than an E60 M5.

I could afford this without a loan

http://www.autotrader.co.uk/classified/advert/2016...

Or is this going to be eye watering to fix as well?

[Slow]

hotchy said:

please listen to this. Then apply to stay in student halls. it'll be the difference between uni changing your life and hating uni

There are no student halls in Inverness, its either stay at home or flat share, which I would rather not do again.

[Slow]

Efbe said:

why the M5 though?

why not a monaro, or GTR?
The m5 has always seemed a little dull for what it is. makes going fast seem quite boring.

I dont know, I have just always wanted an M5 since I was a young teen.

Part of me says fk it just buy one and if it breaks sell it for a loss and learn a life lesson. Mostly because my Mum got convinced out of buying a corvette when she was in her early 20s, ended up buying a flat and said it was her biggest regret. She only just got the corvette now, over 30 years later.

The other side of me says its ridiculous and I shouldnt entertain the idea, PH seems to agree but for other reasons.

[Slow]

white_goodman said:

No. Isn't that the Lamborghini engine? Probably almost as bad but a D3 A8 that isn't a W12 or an S8 would probably be OK. Get the V8 (D2) one, like the one in Ronin or if it must be an M5, a cheaper E34 or E39 without a loan would be simpler to work on yourself. I would also avoid the C5 Audi RS6, as I hear they are very expensive to run.

Think its related to the Lamborghini engine but not the exact same.

Due to my height and often traveling with 3+ people im looking at saloons and the M5 has always been the one for me. Due to my mileage really cutting down to only 6k per year from the 20kish im doing at the moment in the Range Rover im not too worried about the fuel.

By september these are maybe sub 15k? I should be able to get very close to that by september without the loan - but without a bork fund waiting.

http://www.autotrader.co.uk/classified/advert/2016...

But again im asking for a world of hurt from any of these large monsters?

[Slow]

HustleRussell said:

Don't you realise that this is almost certainly all your fault?

I didnt exist for another 7 years or something

MarshPhantom said:

Agreed. Surely the best thing is getting away from the parents.

Been away for over a year, had a flat with friends and do not want to go back to flat sharing, there is no student halls. Get on well with my Mum anyway and she needs help with things at the moment so it works for both of us.

[Slow]

jamieduff1981 said:

When do you think you're going to find time to restore, prep and respray these old BMWs whilst mowing your mums grass and working 40-50 hrs a week from now until September?

No kids, no commitments, girlfriend works days, I work evenings so I have every morning free as well as my 2 days off per week. Plently of time, im not doing the welding myself so that saves alot of time.

[Slow]

jamieduff1981 said:

Vaud said:

jamieduff1981 said:

When do you think you're going to find time to restore, prep and respray these old BMWs whilst mowing your mums grass and working 40-50 hrs a week from now until September?

Or is some of this maternal pressure about reducing the number of cars on her drive?

I wouldn't blame her. Running a bedsit and having a driveway that looks like a scrap yard can't be a happy combination.

Live on a farm with a holiday house which sleeps 19 (so not a little "bedsit") which cant even see my cars. Got a yard + double garage etc. She herself has 3 cars, a JCB and a Dumper truck.

So maybe fk off making assumptions?

Edit: Heres the top 1/5th of my driveway thats so full https://www.youtube.com/watch?v=UB9rHNiHRxw

Edited by Slow on Wednesday 23 March 18:31

[Slow]

gregs656 said:

5k of that is speculation based on finished cars which you don't have . . . .

Half your estimate for what you have at the moment and I think you would be much closer to the mark.

You have a great opportunity with the e30. Invest in it and do it properly.

Inbefore Mummies money comments but she already called dibs on mine for 5k and leaving me with the spare wheels/tyres to sell off.

Had plenty of offers over £1k for the cherry already without it being on sale yet.

Pug is a easy £750 as it sits

E38 once it has an mot (booked for wednesday next week) should be like £700 before its painted

Thats say £5500+£1500+£750+£700 just now. Over 8k without touching the E30

I have all the repair panels bought ready for it, just waiting on my friend to start the welding as I cant do it. Hoping to get it looking perfect really, they are fetching really good money and its a low milage one

Edit: Meant she called dibs on the Range Rover btw

[Slow]

Idonthavencb said:

Good god flicking through your
YouTube you're more like a 14 year old than a 21 year old?!
"fgt" seriously???
Runescape- isnt that a game for 5 year olds?

Sorry for my videos uploaded 5+ years ago, sorry I still play video games like alot of people my age...

Are you genuinely now trying to bash my choice of video game? Prefer if it was fifa or call of duty?