Discussion
Friend was looking at replacing his current car and looked at an M3 at a main dealer. Registered 31 Dec 2008, with 5 miles on the clock. (Don't know any other spec)
He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000!
Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.
He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000!
Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.Battenburg Bob said:
Friend was looking at replacing his current car and looked at an M3 at a main dealer. Registered 31 Dec 2008, with 5 miles on the clock. (Don't know any other spec)
He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000! Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.
I would be surprised if a 3 year old A5 will make more than £15K and is likely to cost mid £30's new anyway?He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000!
Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.I would have thought the m3 was a bargan at £36K. Also, BMW have had their fingers burnt with residual deals, so are valuing them low accordingly - this can be a good thing as it will give your friend equity come trade in time.
He was buying at £36K and at very worst, selling at £15K after three years. £7K per year is quite reasonable for a car of this calibre.
I think your friend has missed out on a cracking deal, to buy an inferior car.
Edited by pgilc1 on Wednesday 13th May 23:24
Battenburg Bob said:
Needless to say he didn't get it and now has an A5 on order.
So you're saying your mate was offered an M3 with 5 miles on the clock for £36k, in 3 years time he could probably get £22-23k for that car no problem and he bought an S5 instead??You're right, what a t
t!! In fact forget the money side of things, you have to be a tt to buy an Audi as a fun car full stop imho.
S5 has to be the worst Audi on the road at the minute, like the B6/7 S4 was before it, it just doesn't work in any way what so ever, maybe in auto guise as an autobahn cruiser, but even then why bother with that engine?
In 3 years time no one, and I mean no one, will want the old S5, as soon as the supercharged version arrives it will seriously dive bomb in value.
t to buy an Audi as a fun car full stop imho. S5 has to be the worst Audi on the road at the minute, like the B6/7 S4 was before it, it just doesn't work in any way what so ever, maybe in auto guise as an autobahn cruiser, but even then why bother with that engine?
In 3 years time no one, and I mean no one, will want the old S5, as soon as the supercharged version arrives it will seriously dive bomb in value.
Battenburg Bob said:
Sorry I spoke!!
For a mere mortal like me, losing £40000 over three years from the new price is eye watering.
The A5 deal worked out much cheaper for him.
Whats the relevance of what it cost new? Your friend was getting a seriously good deal.For a mere mortal like me, losing £40000 over three years from the new price is eye watering.
The A5 deal worked out much cheaper for him.
What model of A5 did he buy?
Battenburg Bob said:
Friend was looking at replacing his current car and looked at an M3 at a main dealer. Registered 31 Dec 2008, with 5 miles on the clock. (Don't know any other spec)
He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000! Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.
That's a good price for a basically a new M3. The depreciation isn't that bad when you think of it as £7,000 a year or less than £600 per month and it's a guaranteed value. He wants a PCP deal and was offered the car for £36000, with a GFV after 3 tears of .........£15000!
Considering the car was fifty odd grand new, a forty grand loss over three years is frightening. Needless to say he didn't get it and now has an A5 on order.The £40k loss is a worst case scenario based on the car only being worth the GFV in 3 years time. The likelihood is the loss wouldn't be £40k - more like up to £35k, £20k of which BMW have already taken the hit on by selling at £36k.
The M3 sounds like a bargain to me.
A5 or M3...I wonder...
The M3 sounds like a bargain to me.
A5 or M3...I wonder...
richterswil said:
The £40k loss is a worst case scenario based on the car only being worth the GFV in 3 years time. The likelihood is the loss wouldn't be £40k - more like up to £35k, £20k of which BMW have already taken the hit on by selling at £36k.
The M3 sounds like a bargain to me.
A5 or M3...I wonder...
Also, by then it will technically be a four year old car, not a three year old car.The M3 sounds like a bargain to me.
A5 or M3...I wonder...
)Battenburg Bob said:
Sorry I spoke!!
For a mere mortal like me, losing £40000 over three years from the new price is eye watering.
The A5 deal worked out much cheaper for him.
No need to apologise or feel offended, it is just that your figures are way wrong and so is therefore also the advice you gave "to your friend".....For a mere mortal like me, losing £40000 over three years from the new price is eye watering.
The A5 deal worked out much cheaper for him.
We only have your (I mean your friend's) best interest at heart - if I was offered an M3 for £36K at 5 months old, I would have torn someone's arm off (and eaten it).
Point 1/ I didn't give HIM any advice, it was something he mentioned to me yesterday. He's old enough to make his own decisions.
Point 2/ The 'driving experience' wouldn't really matter that much to him.
Point 3/ The Audi purchase was considerably cheaper than the BMW offer (Don't know what the spec of the Audi is, other than a petrol)
Point 4/ If I could afford an A5, I'd be happy to say I've bought one. I'm not in the business of hiding behind a 'friend'.
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
Point 2/ The 'driving experience' wouldn't really matter that much to him.
Point 3/ The Audi purchase was considerably cheaper than the BMW offer (Don't know what the spec of the Audi is, other than a petrol)
Point 4/ If I could afford an A5, I'd be happy to say I've bought one. I'm not in the business of hiding behind a 'friend'.
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
Battenburg Bob said:
Point 1/ I didn't give HIM any advice, it was something he mentioned to me yesterday. He's old enough to make his own decisions.
Point 2/ The 'driving experience' wouldn't really matter that much to him.
Point 3/ The Audi purchase was considerably cheaper than the BMW offer (Don't know what the spec of the Audi is, other than a petrol)
Point 4/ If I could afford an A5, I'd be happy to say I've bought one. I'm not in the business of hiding behind a 'friend'.
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
1. OK - apologiesPoint 2/ The 'driving experience' wouldn't really matter that much to him.
Point 3/ The Audi purchase was considerably cheaper than the BMW offer (Don't know what the spec of the Audi is, other than a petrol)
Point 4/ If I could afford an A5, I'd be happy to say I've bought one. I'm not in the business of hiding behind a 'friend'.
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
2. OK - thats objective - so - whatever
3. Given the figures I am not sure how that could be - but whatever
4. OK - apologies
Look, the GFV should always be on the safe side to protect the punter - but that would be the same for the A5 and the BMW. I think maybe in this case he has got himself a little 2 litre A5 in which case OF COURSE IT WOULD BE CHEAPER. I mean, you get what you pay for.......^^ To give you an idea on GFV, I have a £13K baloon left on my 911 GT3 Mk1.......and that car will be worth more than a 2007 M3 for as long as you like......it doesn't mean it is worth that just because the balloon says so.
Having said all that, I don't really like M3's that much. You sir, would seem to have given us very bad figures with no facts, taken offence at our replies and now changed the goalposts to prove yourself right. Despite the fact it has been a monumentous waste of me I still like you. '
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Edited by christer on Thursday 14th May 13:53
Edited by christer on Thursday 14th May 13:55
Battenburg Bob said:
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
Plus dont forget BMW have revised their residual deals heavily downwards as they've got very badly burnt with cars being worth a lot less than they had quoted for.
I'd say the car will probably be worth £20K+ in three years time, so a £15K bath in three years probably isnt too bad. A £20K mondeo is going to struggle to be worth much than five at three years old...
pgilc1 said:
Battenburg Bob said:
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
Plus dont forget BMW have revised their residual deals heavily downwards as they've got very badly burnt with cars being worth a lot less than they had quoted for.
I'd say the car will probably be worth £20K+ in three years time, so a £15K bath in three years probably isnt too bad. A £20K mondeo is going to struggle to be worth much than five at three years old...
He considered an M3 because it a premium make and looks nice, as opposed to the driving experience. Takes all sorts!
Battenburg Bob said:
pgilc1 said:
Battenburg Bob said:
The point of the post was that I thought a GFV of a three year old M3 being £15000 was a surprise.
Plus dont forget BMW have revised their residual deals heavily downwards as they've got very badly burnt with cars being worth a lot less than they had quoted for.
I'd say the car will probably be worth £20K+ in three years time, so a £15K bath in three years probably isnt too bad. A £20K mondeo is going to struggle to be worth much than five at three years old...
He considered an M3 because it a premium make and looks nice, as opposed to the driving experience. Takes all sorts!
I think you would have to really want an m3, and be prepared for the running costs, relative extremeness of it, etc. That either floats your boat or not - some people will pay a premium for that some wont i guess.
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