Want an E46 M3
Discussion
Hi all 
sorry if posting in the incorrect forum though im sure ill get moved on mods 
Right the long and short of it is this currently have no car earn 25k a year and want an M3 E46.
Dream car was an M6
but have had to resign myself to the fact that this is out of the question 
I have no savings though have circa £300 month spare if not a bit more.
I have never financed anything before and do not own my own property.
Would you just save and buy outright or finance...Would I even be able to get finance? 27years old.
Thats it really. Reply away!
sorry if posting in the incorrect forum though im sure ill get moved on mods Right the long and short of it is this currently have no car earn 25k a year and want an M3 E46.
Dream car was an M6
but have had to resign myself to the fact that this is out of the question I have no savings though have circa £300 month spare if not a bit more.
I have never financed anything before and do not own my own property.
Would you just save and buy outright or finance...Would I even be able to get finance? 27years old.
Thats it really. Reply away!
Its a personal decision about your finances.
You can get a very decent M3 for £10k
You do need to allow for some maintenance over and above say a 330ci.
Insurance will be expensive to depending on your `credentials`
And it probably wont do much more than 25mpg average.
But that said, I have a 330ci M Sport and love it, it hasnt cost me much so far and costs £700 pa to insure in my own name @ 23 with protected NCB, not driven an M3 but I imagine it would be much better than my 330ci.
When my finances allow I would love an M3
You can get a very decent M3 for £10k
You do need to allow for some maintenance over and above say a 330ci.
Insurance will be expensive to depending on your `credentials`
And it probably wont do much more than 25mpg average.
But that said, I have a 330ci M Sport and love it, it hasnt cost me much so far and costs £700 pa to insure in my own name @ 23 with protected NCB, not driven an M3 but I imagine it would be much better than my 330ci.
When my finances allow I would love an M3
T16OLE said:
Its a personal decision about your finances.
You can get a very decent M3 for £10k
Exactly what I was thinking, there are some very nice examples in classifieds!You can get a very decent M3 for £10k
T16OLE said:
But that said, I have a 330ci M Sport and love it, it hasnt cost me much so far and costs £700 pa to insure in my own name @ 23 with protected NCB, not driven an M3 but I imagine it would be much better than my 330ci.
When my finances allow I would love an M3
May I ask if thats fully comp?When my finances allow I would love an M3
Is this some kind of wind up?
Without wanting to be excessively negative / pessimistic I don't think you have any concept of what kind of financial reaming you're letting yourself in for in the event something goes wrong on that car. With no savings and that kind of salary (and slack cash per month) you simply cannot afford to run that kind of car and will be broke in a matter of months. What will you do when it needs a major service or a full set of rubber all round?
Without wanting to be excessively negative / pessimistic I don't think you have any concept of what kind of financial reaming you're letting yourself in for in the event something goes wrong on that car. With no savings and that kind of salary (and slack cash per month) you simply cannot afford to run that kind of car and will be broke in a matter of months. What will you do when it needs a major service or a full set of rubber all round?
TheForceV4 said:
T16OLE said:
Its a personal decision about your finances.
You can get a very decent M3 for £10k
Exactly what I was thinking, there are some very nice examples in classifieds!You can get a very decent M3 for £10k
T16OLE said:
But that said, I have a 330ci M Sport and love it, it hasnt cost me much so far and costs £700 pa to insure in my own name @ 23 with protected NCB, not driven an M3 but I imagine it would be much better than my 330ci.
When my finances allow I would love an M3
May I ask if thats fully comp?When my finances allow I would love an M3
I'm 24 and it's £520 (6 Years NCB)
ETA - What chicane said
Edited by Teddye4687 on Thursday 12th January 15:01
StanLeeKnife said:
May i ask how you've only got around £300 to spend a month, with no property and savings and you're 27?
Well I do have savings but nothing I want to touch for a while yet.£300 after rent bills the usual nonsense you spend money on in a month. Is that bad?! Im not a well built company director.
If your £300 budget has got to cover cost of the car finance/loan, Insurance, Tax, Maintenance, (and fuel??) I don't think this is going to be do-able. 
Very rough fag packet maths:
300 x 12 = £3600 a year.
Insurance - optimistically, £800?
Maintenance - yearly, presume a cheapish serice at £400, and two tyres at say £120 a pop. MOT at about £40. £680
Tax - Err, i should really know how much this is given I've got to tax mine soon... Umm, £425?
Finance - You will need about £10K to get a good one, but might get lucky at say 9k. Remember it's false economy if it costs more in service bills. Nine grand at 10% over 5 years is about £180 a month?
800+680+425+(180x12)= £4065
And that's blown the budget already without looking at fuel. Your solution is to save and have at least a deposit, preferably the balance for the car in cash. Sorry if that's not the answer you're looking for and best of luck making it happen. They are fantastic cars and well worth the effort and investment to find and run a good one.
Very rough fag packet maths:
300 x 12 = £3600 a year.
Insurance - optimistically, £800?
Maintenance - yearly, presume a cheapish serice at £400, and two tyres at say £120 a pop. MOT at about £40. £680
Tax - Err, i should really know how much this is given I've got to tax mine soon... Umm, £425?
Finance - You will need about £10K to get a good one, but might get lucky at say 9k. Remember it's false economy if it costs more in service bills. Nine grand at 10% over 5 years is about £180 a month?
800+680+425+(180x12)= £4065
And that's blown the budget already without looking at fuel.
Your solution is to save and have at least a deposit, preferably the balance for the car in cash. Sorry if that's not the answer you're looking for and best of luck making it happen. They are fantastic cars and well worth the effort and investment to find and run a good one. Ryvita said:
If your £300 budget has got to cover cost of the car finance/loan, Insurance, Tax, Maintenance, (and fuel??) I don't think this is going to be do-able.
Very rough fag packet maths:
300 x 12 = £3600 a year.
Insurance - optimistically, £800?
Maintenance - yearly, presume a cheapish serice at £400, and two tyres at say £120 a pop. MOT at about £40. £680
Tax - Err, i should really know how much this is given I've got to tax mine soon... Umm, £425?
Finance - You will need about £10K to get a good one, but might get lucky at say 9k. Remember it's false economy if it costs more in service bills. Nine grand at 10% over 5 years is about £180 a month?
800+680+425+(180x12)= £4065
And that's blown the budget already without looking at fuel. Your solution is to save and have at least a deposit, preferably the balance for the car in cash. Sorry if that's not the answer you're looking for and best of luck making it happen. They are fantastic cars and well worth the effort and investment to find and run a good one.
No, its exactly what I was looking for. Very rough fag packet maths:
300 x 12 = £3600 a year.
Insurance - optimistically, £800?
Maintenance - yearly, presume a cheapish serice at £400, and two tyres at say £120 a pop. MOT at about £40. £680
Tax - Err, i should really know how much this is given I've got to tax mine soon... Umm, £425?
Finance - You will need about £10K to get a good one, but might get lucky at say 9k. Remember it's false economy if it costs more in service bills. Nine grand at 10% over 5 years is about £180 a month?
800+680+425+(180x12)= £4065
And that's blown the budget already without looking at fuel.
Your solution is to save and have at least a deposit, preferably the balance for the car in cash. Sorry if that's not the answer you're looking for and best of luck making it happen. They are fantastic cars and well worth the effort and investment to find and run a good one. Not quite what I wanted to hear though, but sometimes its best to hear hear what folk with their heads screwed on think.
Time for a rethink methinks!
For me personally, I don't really frown upon someone getting finance, but you have to appreciate that on the details you've given us, running it would be a bloody struggle. You'd always be watching the fuel gauge, not enjoying the car because you have to watch your pennies on fuel etc. I mean if you can't enjoy the car to its full without a million nagging doubts about how much money it is costing you, then its pointless.
Get a car that you can afford to run comfortably and I guarantee you will enjoy it a hell of a lot more. Certainly beats waking up in a cold sweat in the middle of the night.
For the record I've been where you are and got out on the other side. I should point out I was on a fair bit more than 25k though, spent 10k on an Impreza and whilst it was awesome to drive and go out in it. Keeping it running tickety boo and servicing and fuelling and insurance just ruined the fun.
Ended up getting a 182 which was sooo much cheaper to run and subsequently more enjoyable, as I was free from the stresses of ownership of a high maintenance car.
Get a car that you can afford to run comfortably and I guarantee you will enjoy it a hell of a lot more. Certainly beats waking up in a cold sweat in the middle of the night.
For the record I've been where you are and got out on the other side. I should point out I was on a fair bit more than 25k though, spent 10k on an Impreza and whilst it was awesome to drive and go out in it. Keeping it running tickety boo and servicing and fuelling and insurance just ruined the fun.
Ended up getting a 182 which was sooo much cheaper to run and subsequently more enjoyable, as I was free from the stresses of ownership of a high maintenance car.
@Remy, Its nice to hear from someone whos been there albeit on more dosh lol. Your quite right too the whole idea would be for the enjoyment not the worry.
Its not having the actually burden thats given me this pie in the sky idea I feel.
Saving I feel has got to be the only way looking at it logically.
Its not having the actually burden thats given me this pie in the sky idea I feel.
Saving I feel has got to be the only way looking at it logically.
It's no M3, but my 182 is magic and, as Remy said, the feeling of knowing that I can definitely afford my car is better than the feeling of having a straight six.
I've actually owned the same car twice - once when I couldn't afford it (in laws took it off my hands for a year of two) and now when I can. I enjoy it much more now than then.
I've actually owned the same car twice - once when I couldn't afford it (in laws took it off my hands for a year of two) and now when I can. I enjoy it much more now than then.
It's the best way.
At least then, if running costs are too much, you can sell it and not have the overheads of finance etc to consider.
Even if you keep it for 6 months just to get it out of your system; I'm thinking the same with a Boxster S, just to have owned one, however people may perceive this, I don't really care
I couldn't afford to keep one for a couple of years, not when you consider the expense of brakes, tyres, servicing, tax etc.
At least then, if running costs are too much, you can sell it and not have the overheads of finance etc to consider.
Even if you keep it for 6 months just to get it out of your system; I'm thinking the same with a Boxster S, just to have owned one, however people may perceive this, I don't really care
I couldn't afford to keep one for a couple of years, not when you consider the expense of brakes, tyres, servicing, tax etc.
I bought a five grand Celica GT-Four when 21 years old while on less than 25k. I was living at home and supposedly saving for a house deposit at the time. (Still haven't bought property yet. It's on my to-do list. Shut up. It is.)
I figured I could afford to run it including the loan while still saving at least a bit. I did, and kept it and it's succesor for many years of fun mainly trouble-free motoring, but I was always aware that I was lucky to be avoiding the big bills! Listening to the engine for signs of something terminal, tapping, ticking, funny noises under load, looking for smoke on accelerating became bad habits that led to me perhaps not enjoying it as much as I should have, particularly when a service was due. I'd agree with Remy that working comfortably within your means rather than at the edge of them can be a better plan in terms of total fun per pound.
Hmm. Yeah so this post could pretty much be summarized as "Do as I say not as I do." Oh well.
I figured I could afford to run it including the loan while still saving at least a bit. I did, and kept it and it's succesor for many years of fun mainly trouble-free motoring, but I was always aware that I was lucky to be avoiding the big bills! Listening to the engine for signs of something terminal, tapping, ticking, funny noises under load, looking for smoke on accelerating became bad habits that led to me perhaps not enjoying it as much as I should have, particularly when a service was due. I'd agree with Remy that working comfortably within your means rather than at the edge of them can be a better plan in terms of total fun per pound.
Hmm. Yeah so this post could pretty much be summarized as "Do as I say not as I do." Oh well.
TheForceV4 said:
StanLeeKnife said:
May i ask how you've only got around £300 to spend a month, with no property and savings and you're 27?
Well I do have savings but nothing I want to touch for a while yet.£300 after rent bills the usual nonsense you spend money on in a month. Is that bad?! Im not a well built company director.
I definitely admire your taste. I ran an E46 M3 for 3 years, currently have an E92 M3 for over 2 years.
In all honesty assuming £300 month is for all car bills considering you don't run a car just now. It's not gonna be do-able.
Discs £110 a pop £90 a set of pads. Tyres cheap ones or michellin or continentals you're looking at way over £200 each.
Depending on what services are due you still want to consider £500 a year at indi prices.
Insurance and fuel on top at around 22-24 average mpg. Then there's financing the car which will be biggest bill.
Id suggest a nice 325 m-sport coupe something like that. I had a 325 before my first M3 and it was that car that got me hooked on BMW's.
Hope that helps a bit
In all honesty assuming £300 month is for all car bills considering you don't run a car just now. It's not gonna be do-able.
Discs £110 a pop £90 a set of pads. Tyres cheap ones or michellin or continentals you're looking at way over £200 each.
Depending on what services are due you still want to consider £500 a year at indi prices.
Insurance and fuel on top at around 22-24 average mpg. Then there's financing the car which will be biggest bill.
Id suggest a nice 325 m-sport coupe something like that. I had a 325 before my first M3 and it was that car that got me hooked on BMW's.
Hope that helps a bit
T16OLE said:
But that said, I have a 330ci M Sport and love it, it hasnt cost me much so far and costs £700 pa to insure in my own name @ 23 with protected NCB
Teddye4687 said:
It will be, yes
I'm 24 and it's £520 (6 Years NCB)
Where are you two insuring yours? I'm 32 have 8years NCD and the cheapest I could find was £820 with the mrs added. Without her it was nearer a grand.I'm 24 and it's £520 (6 Years NCB)
dooosuk said:
Where are you two insuring yours? I'm 32 have 8years NCD and the cheapest I could find was £820 with the mrs added. Without her it was nearer a grand.
Elephant (Bell & Admiral are similar)Your mileage, post code and job are pretty big factors to consider. Any points? Kind lady told me these increase a premium by c.£75
I also have a partner on my insurance, I live in the lowest category of post code costs, don't cover many miles (<12k PA), and I work in IT, which makes me a nerd.
Churchill came close.
Oh, I have a £500 excess (£250 compulsary, £250 'young drivers') and I pay in full.
Edited by Teddye4687 on Thursday 12th January 16:06
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