RE: BMW M4 CS | Spotted
Discussion
I had an M3 on finance. By the time it was nicked I'd paid less than it'd lost in depreciation and the gap insurance made me another £15k cash on top.
Or current Volvo lease will have been £8k for a £40k+ car, again, less than we'd have lost in cash.
Finance rules!
I liked the idea of an M3CS, but the differences didn't make it worth the change from the comp pack I had, and I guess many owners felt the same way.
Current nearly new cars are a bargain.
Or current Volvo lease will have been £8k for a £40k+ car, again, less than we'd have lost in cash.
Finance rules!
I liked the idea of an M3CS, but the differences didn't make it worth the change from the comp pack I had, and I guess many owners felt the same way.
Current nearly new cars are a bargain.
SidewaysSi said:
I buy everything on finance. It means I can live and do things I want to.
Something get to the dealer and sign that paperwork...it looks lovely.
Each to their own and I respect that but.. you've still got to pay for it all and that Inc all the interest. Something get to the dealer and sign that paperwork...it looks lovely.
I'm totally the other way, I won't have anything if I can't afford it outright.
Probably missed out on things I could have had in life but finance would keep me awake at night..
Glenn63 said:
Flip side, if you buy it cash and sell it you’ve still lost the same amount of money in depreciation, but the person who financed has had the cash in the bank to do with what they wish maybe invest in something else.
Most people who finance cars on PCP DONT have the cash in the bank. The payments come straight out their income. IIRC only about 5% of people could afford to pay the balloon figure llcoolmac said:
nickfrog said:
rbozza said:
No one pays cash for these cars, always done on finance and based on what seems affordable out of disposable income. Mega depreciation is irrelevant to the first owner as it’s already been accepted by the monthly contribution.
No one at all? 
t with money most people are. The vast majority of people who finance cars like this are actually crippling themselves financially without even realising it. £700 a month out of perhaps £3000 monthly income plus deposit and at the end you have nothing...is one of the most incredible stupid decisions one can make. But alas, I won't go on about it. I just don't understand the mentality. If that is your income then you should be buying your dream car that you will keep for 7-10 years. These cars are all amazing enough that you should want to do that. (I have no idea if those figures are anywhere near correct for one of these but I know people pay that % of their income on cars they won't own)But the average person isn't buying for their own pleasure of course...just to impress the neighbours.
Court_S said:
llcoolmac said:
I love that the logic of people arguing with me on this is "well people want to do it" or "lots of people do it" as if that somehow diminishes the fact that what the vast majority of people on PCP deals do is idiotic.
Yes, believe it or not buying car and paying all of the depreciation for three years while putting very little mileage on it is a totally financially idiotic decision. You may have decided you are fine with that but there is plenty of research out there to suggest that most people on PCP deals can't actually afford them when you take into account all of the other things that you will be paying for in your life.
If you are cool with that then fine, but it doesn't lessen the stupidity of your financial imprudence. It's their money and there is a very good reason most people have way less money than they should have by the time they hit retirement or even middle age.
Good article on it here for anyone who has an interest in it.
https://www.petrolprices.com/news/millions-motoris...
Are you the financial police? You seem to be very bothered by other people’s choices. Yes, believe it or not buying car and paying all of the depreciation for three years while putting very little mileage on it is a totally financially idiotic decision. You may have decided you are fine with that but there is plenty of research out there to suggest that most people on PCP deals can't actually afford them when you take into account all of the other things that you will be paying for in your life.
If you are cool with that then fine, but it doesn't lessen the stupidity of your financial imprudence. It's their money and there is a very good reason most people have way less money than they should have by the time they hit retirement or even middle age.
Good article on it here for anyone who has an interest in it.
https://www.petrolprices.com/news/millions-motoris...
Plenty of people fully understand what they’re getting into. If you can afford the payments, the insurance, the fuel etc the you can afford the car.
Edited by Porsche911R on Tuesday 28th January 08:58
TyrannosauRoss Lex said:
Roma101 said:
TyrannosauRoss Lex said:
bilo999 said:
Amazing - almost £35k off for a two year old M4, that is almost unused !
Where as, a few weeks ago a three year old Giulia QF with 45k miles on the clock was for sale, for about £32k, having lost about £30k from new and it was implied that Alfa's depreciate !!!! and are still unreliable ....... surprised that the article didn't say they rust as well!
This BMW is great value motoring, just the heavy depreciation to contend with, and possible unreliability ......but when you get overtaken by the Giulia, will you be so happy?
But it isn't depreciating worse than any of the others. You're just asssuming the original owner paid £89k for this, which they almost certainly didn't.Where as, a few weeks ago a three year old Giulia QF with 45k miles on the clock was for sale, for about £32k, having lost about £30k from new and it was implied that Alfa's depreciate !!!! and are still unreliable ....... surprised that the article didn't say they rust as well!
This BMW is great value motoring, just the heavy depreciation to contend with, and possible unreliability ......but when you get overtaken by the Giulia, will you be so happy?
Edited by bilo999 on Monday 27th January 12:14
Porsche911R said:
you missed his point, the point is they CANNOT AFFORD the car, they can afford to rent a car and that's their choice of course, but most CANNOT afford to own the car and sadly will be pretty fu***ed later when they have zero deposit for the next one so cannot keep in the same sort of cars going forward unless they pay even more !
That's me. I can't afford the car outright because all of my income surplus goes into pension, triggering an instant 40% uplift in tax relief from HMRC. And I couldn't justify the depreciation, even off discounted new compared to the total amount I am paying for the car. So, why would I pay more? To satisfy the few embittered PH weirdos who have zero critical thinking? The big question is : why are they obsessed with OTHER PEOPLE's choices?
nickfrog said:
That's me. I can't afford the car outright because all of my income surplus goes into pension, triggering an instant 40% uplift in tax relief from HMRC. And I couldn't justify the depreciation, even off discounted new compared to the total amount I am paying for the car.
So, why would I pay more? To satisfy the few embittered PH weirdos who have zero critical thinking? The big question is : why are they obsessed with OTHER PEOPLE's choices?
Outside of car forums, no one in the really world gives a sSo, why would I pay more? To satisfy the few embittered PH weirdos who have zero critical thinking? The big question is : why are they obsessed with OTHER PEOPLE's choices?
t about how people pay for their cars. But for some reason, amongst car nerds it makes some people forty at the mouth with rage and indignation. Given the way car price increases outstrip wage rises etc most people outside of the world of powerfully built PH directors don’t have £50k plus kicking about so use some form of finance to buy their cars. They can afford to pay X per month and are happy with that. Others aren’t so don’t take finance. Simple.
Last summer I got the email from my local dealership offering them for £60something so they found their market price towards the end of production. I wasn't in a position to buy then otherwise I'd have preferred one over my now new M4 Competition Pack which I bought at a similarly massive discount.
And yes, San Marino Blue is the best colour.
And yes, San Marino Blue is the best colour.
A1VDY said:
GTEYE said:
BMW are running the very real risk of ruining the brand if they keep dumping cars on the market.
BMW are a main stream manufacturer, apart from the few top of the range models they're no different to any other volume maker. And anyone thinking they are 'impressing the neighbours' by having any ubiquitous BMW, including an M3 M4 whatever on their drive is totally deluded.
Good package that they undoubtedly are at the money (discounted), these cars have certainly lost their desirable exclusivity compared to the M cars of yesteryear since virtually every man and his dog has one due to the incessent rise and popularity of pcp.
nickfrog said:
Porsche911R said:
you missed his point, the point is they CANNOT AFFORD the car, they can afford to rent a car and that's their choice of course, but most CANNOT afford to own the car and sadly will be pretty fu***ed later when they have zero deposit for the next one so cannot keep in the same sort of cars going forward unless they pay even more !
That's me. I can't afford the car outright because all of my income surplus goes into pension, triggering an instant 40% uplift in tax relief from HMRC. And I couldn't justify the depreciation, even off discounted new compared to the total amount I am paying for the car. So, why would I pay more? To satisfy the few embittered PH weirdos who have zero critical thinking? The big question is : why are they obsessed with OTHER PEOPLE's choices?
has nothing to do with pensions ! has to do with renting vs owning.
when you say you couldn't justify the depreciation, even off discounted new , the cars ended up at £59k del miles so really zero or very low depreciation on these cars, as most are above £50k now and seem a far better buy than the M2CS at RRP.
if you are saving 40% on massive amounts of money in a sipp I don't think you re the same as most people paying 1/3 of their income to rent a mid value car while living with their parents ;-), or the people caught in that magic £299 a month pcp chain. but the sipp point is a moot point imo.
what is the total you are renting the car for and for what period ? that's the figure we need to see, inc the 2 fee's top buy and sell at both ends ;-)
do you even have one is my bigger question ? custard pic please.
av185 said:
A1VDY said:
GTEYE said:
BMW are running the very real risk of ruining the brand if they keep dumping cars on the market.
BMW are a main stream manufacturer, apart from the few top of the range models they're no different to any other volume maker. And anyone thinking they are 'impressing the neighbours' by having any ubiquitous BMW, including an M3 M4 whatever on their drive is totally deluded.
Good package that they undoubtedly are at the money (discounted), these cars have certainly lost their desirable exclusivity compared to the M cars of yesteryear since virtually every man and his dog has one due to the incessent rise and popularity of pcp.
k what their neighbors think and they certainly aren't spunking £70k or £700 a month or whatever to impress them. Some people just like M cars capiche!TX.
Porsche911R said:
I don't care how you pay as I stated, I was correcting some one else , people think they own their cars, but they don't they rent them and they loose their deposits !!! , if people are happy to pay £££ to rent (because they DO pay for the depreciation up front inc interest on the depreciation that's a double hit) that's their choice.
has nothing to do with pensions ! has to do with renting vs owning.
when you say you couldn't justify the depreciation, even off discounted new , the cars ended up at £59k del miles so really zero or very low depreciation on these cars, as most are above £50k now and seem a far better buy than the M2CS at RRP.
if you are saving 40% on massive amounts of money in a sipp I don't think you re the same as most people paying 1/3 of their income to rent a mid value car while living with their parents ;-), or the people caught in that magic £299 a month pcp chain. but the sipp point is a moot point imo.
what is the total you are renting the car for and for what period ? that's the figure we need to see, inc the 2 fee's top buy and sell at both ends ;-)
do you even have one is my bigger question ? custard pic please.
I have a car I don't own. It lists at £32k. I could buy it for £27. 5k new. It costs me £5,472 over 2 years including road tax instead while it will be depreciating more than that even if I ignore the opportunity cost I have described, so I will ask again, why would I want to own it? has nothing to do with pensions ! has to do with renting vs owning.
when you say you couldn't justify the depreciation, even off discounted new , the cars ended up at £59k del miles so really zero or very low depreciation on these cars, as most are above £50k now and seem a far better buy than the M2CS at RRP.
if you are saving 40% on massive amounts of money in a sipp I don't think you re the same as most people paying 1/3 of their income to rent a mid value car while living with their parents ;-), or the people caught in that magic £299 a month pcp chain. but the sipp point is a moot point imo.
what is the total you are renting the car for and for what period ? that's the figure we need to see, inc the 2 fee's top buy and sell at both ends ;-)
do you even have one is my bigger question ? custard pic please.
And I'll ask again, why do you care?
I am not expecting any response to those 2 questions.
Edited by nickfrog on Tuesday 28th January 12:00
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