New car ideas

[damiank250]

I’ve had my 2nd m140 for 3 years , it’s now 6 years old and 50k miles - I have a personal loan left for 28 months I’m paying £430 per month . It is only 2.9% but I estimate £8-£10k of equity once the car is sold and the loan paid off .

I’m considering putting the full equity into a new car and happy for 4 years pcp upto £500 based on 8k mileage.

My fear is if I keep the m140 it will start to demand expensive repairs and consumables and in 28 months it will be worth a lot less with nearly 75k miles.



I’ve looked at deals on the x3 m40i and the m340i touring as I do need a decent boot these days .

Is there anything else new or very new that might be worth a go ? I’ve owned BMWs for the last 8 years so probably want to stay premium with some power .

[covmutley]

Not sure why you would worry about potential repair costs on a car with a fairly robust drivetrain and guarantee a big loss on depreciation on a new or nearly new car?

Keep the £70 extra you were willing to pay extra each month for repairs. If you do change far,that low interest loan helps,so keep it on I guess?

[anyoldcardave]

covmutley said:

Not sure why you would worry about potential repair costs on a car with a fairly robust drivetrain and guarantee a big loss on depreciation on a new or nearly new car?

Keep the £70 extra you were willing to pay extra each month for repairs. If you do change far,that low interest loan helps,so keep it on I guess?

On a Pcp the OP is renting a car for 4 years, depreciation not really an issue. Excess miles costs maybe if life changes.


With you on the rest though, 50k is not a lot of miles, it is being paid for with low interest, and unless the OP knows it has issues,putting the 70 quid aside should cover repairs.

New cars can have issues too, and warranty battles,probably bigger service bills to cover the warranty.

Op, if you like the car, 75k is not going to kill it, not high for an 8 year old car, at least you own it.

[damiank250]

Thanks both , ’my bigger fear is depreciation over the next 2 years a . I paid off the original used finance pcp shortly after purchasing with a low interest loan to reduce the term .

I also need a decent boot for 2 dogs now I’m separated the “dog car “ isn’t meant to be an m140.