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Fiisch

Original Poster

278 posts

157 months

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Saturday 1st February 2020

So I ****ed up. Sold my FK2 Type R, bought my wife an X3 m40d as a family wagon that I drive a weekends, and inherited her 1.2 Leon. The plan was the X3 would be our "daily" with enough poke to keep the petrolhead in my satiated. I thought I was grown up enough for this at 33, but it turns out I'm not. I'm thoroughly miserable, and I miss driving something silly. The X3 is a great car, vey fast, but it isn't fun. The Leon as a "daily driver" (15 miles each way to Bletchley station via windy back roads) is depressing me.

The Leon is a 17 plate, PCP, £212, option to VT in July.

I've decided I would like a super saloon: C63, M3, Giulia QV. I know the running costs will be very different, I know it's not sensible, but I really really like cars.

£25k over 7 years works out circa £300/month on a 2.9% interest rate. That gets me a lovely facelift C63 6.2l, or puts me in F80 M3/Alfa QV/C63 bi-turbo territory with £5k from me. +£80 / month on car cost, +£100/month on petrol, +£200/month on additional maintenance but I would be much, much happier.

Am I being silly? I know from a sensible financial standpoint I should stay in the Leon or keep a cheap daily driver, but we have the disposable income for me to get something more interesting, and you only live once right?!?! Are there other cars I should consider? I have a three year old daughter, another one on the way, although X3 will be main family hauler.

Previously considered something like a Fiesta ST, or a weekend toy, but reality is sinking in that I won't get the time to enjoy a weekend car and something ike a Fiesta ST probably won't scratch the itch. Sorry for the ramble, had a beer and cars are weighing heavy on my mind :/

Rick-fgpe0

112 posts

133 months

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[news]

Sunday 2nd February 2020

Fiisch said:

£25k over 7 years works out circa £300/month on a 2.9% interest rate. That gets me a lovely facelift C63 6.2l, or puts me in F80 M3/Alfa QV/C63 bi-turbo territory with £5k from me. +£80 / month on car cost, +£100/month on petrol, +£200/month on additional maintenance but I would be much, much happier.
:/

Where is the 25k coming from? Bank loan then fair enough but 2.9% apr on a PCP is very low/unrealistic. I’m car shopping now and seeing 3.9% at best from BMW, 6.4 for Audi, 5.9 Volvo and merc, and that’s on a new car. On nearly new or used we are looking at 8-12% representatives which make the monthly payments vastly different.

Regarding the actual question, I’m in a similar boat. Should I buy something impractical but awesome or practical but dull as dishwater. The answer (I think) lies in what your disposable income is like and what your priorities are.

You’re talking about Roughly an additional £400pcm (adding your your numbers above). 400 pcm is 5 grand a year for some fun. So, does your disposable income/personal situation justify 5k for fun? If you already have enough holidays than your annual work allowance wont let you take more, have enough equity in your home, have done all the stuff your missus wants for happy wife happy life (does she want a new kitchen? Redecorate the new child’s bedroom? New boobs?)

If the answer to the above is yes I’ve got all that and the money is burning a hole then lastly check out some pension contribution calculators. 5000pcm is, I’m guessing, the difference between retiring at 50 or 70. Do you want a sports car for 4 years now, or retire 20 years earlier.

If the answer is again yes I want the car, go for it. If you’ve gone in eyes wide open, decided it’s a great deal you’ve found and can justify it to yourself then you’ll love it. For me, I’m willing to increase my monthly costs for personal happiness IF I feel I’ve got a bargain. Then I can tel myself it was worth it. Example, you’re expecting to spend 400 extra on a c63. If you found that same car for 300 extra you could tel yourself it’s a great deal because you didn’t “spend” 5k a year (if 3600 at 300pcm) but instead tel yourself you “saved” 1200 a year by paying 300 and not paying 400.

It’s a matter of personal priorities and what makes you tick. If you’re miserable and can afford it then do it. Everyone would rather have a happy but less affluent Mr Fiisch than a miserable but loaded one. Just make sure your finances are ok for it, she’s ok with it and you personally fee you’ve made the right choice.

I think I’m going to end up in a less practical more fun car, but still trying to convince myself. Haven’t found the bargain I need to justify it to myself yet but have satisfied the house/mrs/pension argument

Hope this helps.

Ps I’m no financial expert, just another per trip head who over engineers everything in life!

Rick-fgpe0

112 posts

133 months

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[news]

Sunday 2nd February 2020

Just read that back, have fun deciphering the auto corrects!

Jamescrs

6,340 posts

94 months

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Sunday 2nd February 2020

I don't know about you but I would never keep any car for 7 years with the best intentions in the world, 4 is my limit and more realistically 3 so to me financing a car over 7 years seems nuts, but you know yourself how feasible it is.

I've been looking myself at cars regularly recently and 15k will see you buy a pretty nice E92 M3 on sensible mileage. I think given your requirements that's where my money would be going and save 10k.

ZX10R NIN

30,521 posts

154 months

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Sunday 2nd February 2020

alexpez

161 posts

257 months

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Monday 3rd February 2020

With regards to the w204 c63 - I bought a 13 plate c63 saloon with the perf pack plus on it back in 2016 (1 prev owner, 10k miles!), living 3 miles from where I work, and having 2 young children that needed ferrying to and from nursery/school. It's now just shy of 29k miles, and my monthly costs have settled down as follows:

£160 Merc extended warranty (this was previously a £100 pcm, but they got rid of the tiers and now just offer 1 product)
£46 Merc service care plan
£140 pcm for petrol (I tend to tank up every two weeks with Shell V-Power 99)

On top of that I've got insurance (ymmv) and tax (£570 per annum).

Tyres can last a while as long as you don't gun it out of every junction - I've just replaced a full set that had more than 10k miles on. My local Merc dealer has been great, no dramas.

You get breakdown recovery with the Merc service care plan and warranty. You could live without the Merc extended warranty (cheaper elsewhere), and service it outside of the dealer network for less.

Without a doubt, the most fun "practical" car I've ever driven (not sure I could get the kids to school in the wet in an Atom!)!

The Cardinal

1,381 posts

281 months

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Monday 3rd February 2020

The X3 won't have been a cheap car to buy, however it was funded. Many dads have to make far worse compromises!

If it were me, I'd carefully weight up whether an(other?) increase in car expenses was worth it over things like house / holiday options, perhaps something I could share with the family. I'd also look into the other financially sensible alternatives outlined above.

quimbles

34 posts

116 months

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Tuesday 4th February 2020

toy if the man maths work

wheres the enjoyment in commuting. i dont think i average above 20mph in 15 miles. unless its the school holidays, then toy.

like you we have an x1(family), ibiza (and toy).

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