Money for nothing

Money for nothing

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Staterunner

Original Poster:

18 posts

66 months

Wednesday 19th June
quotequote all
My 2019 f30 340i, owned from new, cost me £35,000 (interest free finance, £1000 deposit, now paid off and owned.) After 60,000 miles of country bumpkin thrashing, I've put Birds suspension and Quaiff diff on (£3,500ish all in). JB+ chip (£200). Otherwise stock, 18 inch wheels, no badges at all, and sleeper heaven.

Was this just a blip in time? Looks like today the same updated thing would be £60,000 pounds minimum, 200kg heavier, 9% finance, and would be laden with divisive things (hybrid power, touch screens, fake noise, etc).

Can anybody in a similar nostalgic situation make a case for buying a new petrol car, rather than keeping the last gen going longer than you expected to? BMW keep emailing me, sounding disappointed that I never come to their sales events. Why would I?

I've never kept a car for more than five years, but feel like they'll have to drag this old thing from my cold dead hands.

Thanks all

WY86

1,411 posts

30 months

Wednesday 19th June
quotequote all
Similar position, i have 21 plate X3M it has only done 15k miles so far. Its currently on a pcp deal and i pay £550 p/m. The deal is up next march. I have started looking around at M3 tourings and the new x3 M50 but for £1000+ p/m they just don’t excite me enough to justify the costs.

I am very tempted to buy the x3m at the end of the term, put spacers and springs and maybe an aftermarket exhaust and enjoy the car some more.

Staterunner

Original Poster:

18 posts

66 months

Wednesday 19th June
quotequote all
Yes, that's the dilemma. Is the whole model predicated on assuming people with good credit scores probably do not have £20,000 to pay off a balloon, but can be seduced towards a 'better' (often worse) car for higher monthly payments? Don't know. Seems that as the retail model moved from buy to rent, real term costs have doubled. Probably covered a million times on PH, so apologies for pointing out the obvious.

Wills2

23,518 posts

178 months

Wednesday 19th June
quotequote all

New cars are very expensive now, I've always leased or taken a PCP for the work car but when the current lease is up I will look to buy something used I don't do the miles any more, our second car we've owned from new and its 17 years old now and just as good as the day we took delivery.


WY86

1,411 posts

30 months

Wednesday 19th June
quotequote all
Also my car is highly specced, has wireless charging, heated/cooled seats, pan roof etc so i am not really missing any must haves.

Just can’t get my head around paying 4 figures a month on a car. Especially when the drive train is essentially the same.

Staterunner

Original Poster:

18 posts

66 months

Wednesday 19th June
quotequote all
Totally agree.

JulianHJ

8,767 posts

265 months

Wednesday 19th June
quotequote all
I'm in a similar position.I bought a Focus ST estate brand new in 2017. It had all available options bar 'driver aids' and cost me £25k on 0% finance. I've only covered 17k miles in it as I changed roles at work shortly after ordering it, meaning it's effectively a weekend car. It's nowhere near as flashy as many PH-ers' cars, but I'll hopefully keep it until it becomes uneconomical to maintain.

I went for the ST as a cheaper alternative to a Golf R, S4 or 340i. It's the only car I've ever bought new, as I didn't want one which could have been abused by a previous owner. For similar reasons I'm put off changing to a newer and more prestige car (the 340i touring would be ideal) as I could never justify the new prices, and wouldn't want a second hand one. I took it in to my local main dealer on Monday for it's annual service and didn't even bother looking round the showroom; there's nothing that interests me there.

At my current annual mileage it could last me for the rest of my driving career, and I'd be happy with that.

Geffg

1,194 posts

108 months

Wednesday 19th June
quotequote all
I’ve had my current car, 2017 bmw 520d just under 4yrs on pcp. I still think the car looks current and still like it. As the pcp is due up I’ve been looking around but to get a newer version my payments are going to go up around £150 month plus back into the premium road tax so another £40 a month. Never kept a car this long but I can’t justify the big increase in payments. Paying £300 month now and will end up around £500 for the same car basically but 3/4 yrs younger. The interest rates now are high and with the higher priced cars anyway I’m finding it hard to afford a similar car so will probably end up getting a loan and paying the balloon payment when it’s up.

tighnamara

2,226 posts

156 months

Wednesday 19th June
quotequote all
Staterunner said:
My 2019 f30 340i, owned from new, cost me £35,000 (interest free finance, £1000 deposit, now paid off and owned.) After 60,000 miles of country bumpkin thrashing, I've put Birds suspension and Quaiff diff on (£3,500ish all in). JB+ chip (£200). Otherwise stock, 18 inch wheels, no badges at all, and sleeper heaven.

Was this just a blip in time? Looks like today the same updated thing would be £60,000 pounds minimum, 200kg heavier, 9% finance, and would be laden with divisive things (hybrid power, touch screens, fake noise, etc).

Can anybody in a similar nostalgic situation make a case for buying a new petrol car, rather than keeping the last gen going longer than you expected to? BMW keep emailing me, sounding disappointed that I never come to their sales events. Why would I?

I've never kept a car for more than five years, but feel like they'll have to drag this old thing from my cold dead hands.

Thanks all
That was a great deal in 2019 - brand new 340 for £35k and 0% finance
Where was that purchased ?

DJMC

3,466 posts

106 months

Wednesday 19th June
quotequote all
Thing is... in 5 years or less you won't be able to buy an ICE car and the ones today are crazy expensive and all touch screen crap.

Buy or keep an older one in good fettle or be forced to pay ever increasing used ICE prices as they become more sought after.

Our '71 X1 and 981 Cayman will have to see us out, unless EVs are superseded by a more sensible net zero ICE fuel and ICE returns with a vengeance in 5-10 years time.

I think PCP is the worst thing that ever happened to car prices as it's not the screen price that matters any more, it's whether you can afford payments twice those of your mortgage to have a new car every 2/3 years. Bonkers.

WY86

1,411 posts

30 months

Wednesday 19th June
quotequote all
DJMC said:
Thing is... in 5 years or less you won't be able to buy an ICE car and the ones today are crazy expensive and all touch screen crap.

Buy or keep an older one in good fettle or be forced to pay ever increasing used ICE prices as they become more sought after.

Our '71 X1 and 981 Cayman will have to see us out, unless EVs are superseded by a more sensible net zero ICE fuel and ICE returns with a vengeance in 5-10 years time.

I think PCP is the worst thing that ever happened to car prices as it's not the screen price that matters any more, it's whether you can afford payments twice those of your mortgage to have a new car every 2/3 years. Bonkers.
PCP was fine back when a monthly payment wasn’t the same as a mortgage payment. The other factor with these crazy new prices is it will restrict the flow of used cars coming onto the second hand market. So all these people screaming never buy a new car will suddenly find a real limited supply of stock to choose from.

Staterunner

Original Poster:

18 posts

66 months

Wednesday 19th June
quotequote all
@tighnamara From main dealer, Inchape (ex Coopers) in Chelmsford. Was one of the last few F30s knocking around in the network that they were obviously keen to get rid of as the new M-lite models were coming in. From memory, the same big dealer groups were clearing M140s at £28/29K. Looks crazy now, as Civic Type Rs are £50k, 420s are £60k, etc.

tighnamara

2,226 posts

156 months

Thursday 20th June
quotequote all
Staterunner said:
@tighnamara From main dealer, Inchape (ex Coopers) in Chelmsford. Was one of the last few F30s knocking around in the network that they were obviously keen to get rid of as the new M-lite models were coming in. From memory, the same big dealer groups were clearing M140s at £28/29K. Looks crazy now, as Civic Type Rs are £50k, 420s are £60k, etc.
Did well to get that deal, good car to keep long term and as you say with price of new cars now it does seem crazy beer

Staterunner

Original Poster:

18 posts

66 months

Thursday 20th June
quotequote all
tighnamara said:
Did well to get that deal, good car to keep long term and as you say with price of new cars now it does seem crazy beer
Yes, just lucky timing I guess - while the dealer cleared its old models and interest was low.

[NB I live in a bit of Essex that is totally middle of the road, not rich, not poor. Nice place, love it. But it does amaze me when I see gleaming new £60k+ cars parked outside houses with broken fridges and old sofas in the front garden, and no curtains. Don't really get it. And it's pretty normal here. Each to their own, but does seem like priorities have got skewed. I've always loved cars, but not THAT much. Always curtains before cars.]

smashy

3,059 posts

161 months

Thursday 20th June
quotequote all
I have a 2018 335d F30 ,I love it. I love the ease of driving it. I had a curtesy 2023 3 series 20i.
I really did not like it,the steering was not good.The suspension felt really hard and crashy the smartphone I drive was so fussy and complicated( and they reckon mobile phones are dangerous). I thought to myself BMW want over £40k for this and it really was not my cup of tea whatsoever. It was such a relief to get back in my own. I have a sunroof and cream interior and it is so light and airy in there,realising you could option those 2 things in a new car.

I look at the new M3 prices for example and to me are £20k over what they "should " be

Edited by smashy on Thursday 20th June 18:05

Staterunner

Original Poster:

18 posts

66 months

Thursday 20th June
quotequote all
smashy said:
I have a 2018 335d F30 ,I love it. I love the ease of driving it. I had a curtesy 2023 3 series 20i.
I really did not like it,the steering was not good.The suspension felt really hard and crashy the smartphone I drive was so fussy and complicated( and they reckon mobile phones are dangerous). I thought to myself BMW want over £40k for this and it really was not my cup of tea whatsoever. It was such a relief to get back in my own. I have a sunroof and cream interior and it is so light and airy in there,realising you could option those 2 things in a new car.

I look at the new M3 prices for example and to me are £20k over what they "should " be

Edited by smashy on Thursday 20th June 18:05
Agree. Only regret about my cheapo end of line 340 was it's black rather than cream leather (and BMW base leather is like plastic anyway), and no sunroof! Should be a law to have sunroofs. Oh well. 335d awesome. Keep.

Huff

3,184 posts

194 months

Thursday 20th June
quotequote all
.. and colleagues wonder why I run a 22 yr old E39, when nobody makes anything that small and light and simple with a V8 in any more... wink

More seriously - OP if it pleases you & is sufficient: simply look after it, maintain it, enjoy it - and don't look back. You could enjoy it another 20yrs without trying very hard.

Pizzaeatingking

514 posts

74 months

Friday 21st June
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I've found myself in a near identical position. Bought my 340i new in 2018 (2 months before the GPF got added!). My first new car so I spent more than I planned, added a few options, ended up paying £34,500 I think.

I planned to keep it a few years but it's just ticked 6 years old and unless I want to spend massive money nothing comes close. I remember looking at values about a year ago and it had still only lost £2k a year over the first 5 years!

I've tweaked mine a bit too, coilovers, map and exhaust, but it's quick, fun and a bit ASBO when I want it to be yet economical and sensible when I want to just do a commute. I'm also very thankful I took the risk and went for Orange without seeing it in the metal first. I honestly think I might just keep it now, I do minimal miles across 3 of my 4 vehicles anyway so it'll just get used for longer trips/driving pleasure tbh. Of the 4k I done last year 3k was on European road trips.

Funk

26,406 posts

212 months

Friday 21st June
quotequote all
I've been thinking this recently too; the sweet spot for cars will be 2017-2020ish. They're modern enough to have all the toys (a must-have for me now is Android Auto for example), wear their mileages well yet not new enough to be ruined with touch-screens that control everything such as HVAC. The very newest ones would do my nut having to turn off all the (often dangerous in the case of LKA) 'driver aids' along with myriad bings and bongs for speed limits etc. Cars built in the Covid years often have options missing as it was impossible to source various modules/control units so buying a 2021-22 car will mean close attention needs to be paid when viewing as the car on the forecourt might not actually have the features the websites/reviews etc say it should have. Even my Roksan K3 hifi amp suffered the same fate; the earlier ones have bluetooth connectivity but this was deleted from 2021 onward as the bluetooth modules were unavailable during the pandemic.

I'm currently in a 2018 Audi S5 with 45k on the clock; it still feels tight as a drum, it's now in the 'cheap' VED bracket, has pretty much all the kit I want on it and goes well enough whilst making a nice-yet-restrained noise. I need to scratch a V8 itch at some stage but I'll probably be looking at cars at least 4-5 years old when I do.

butch_

82 posts

195 months

Friday 21st June
quotequote all
How is the Birds suspension? Would you recommend it?

I'm in a similar situation, 340i with the analog dashboard smile