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What should I do with my car? [Finance topic]
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06-14-2011, 01:47 AM | #23 |
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Running an 'M' car
why don't you open up Excel and do an analysis of M3 running costs
Tax is fixed Insurance you can get from the internet Fuel costs = mileage/consumption*fuel price Servicing costs are more or less fixed as a function of service interval and mileage extended warranty costs Tyres (work on £1200 every 10k miles as a reasonable average for summer tyres and £800 for winters) Sundry repairs and consumables (allow £300 p.a for stuff like batteries, wiper blades, cleaning materials etc.) Then there's the big estimate for variable service items not covered by warranty, which may be things like clutch, brake pads, discs, cam drive & tensioners etc. |
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06-14-2011, 03:31 AM | #25 |
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Guys. What you need to bear in mind is I'm currently paying off well over 1k/month on the current car and servicing the debt from when I was supporting the family a few years back. I won't be getting myself into any difficulties re: finance or similar again. Last time I was there was due to my mum losing her job rather than anything I personally did. I propped up the family home on just my income for almost a year.
That debt will be gone in march. So If I then pay 450 for a car.. I have, lets say, enough - to run whatever car I feel like (with the possible exception of a supercar). I'm not worried about running costs. Also, 1200 for 10k miles? Falkens are 400 a set in OEM M sizes and will last 10-15k. So it's more like 1200 for 30k miles. I've no desperate desire to continue running PS2s. I'm just scoping out the most sensible short term decision really... that said all feed back is welcome
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Previously: 2003 Peugeot 206 1.6 8v | 2006 E90 320d M-Sport, 19" BBS CH, Full Ice-cold JL audio install, August 2010 Total BMW 6 page feature car. | 2003 Nissan 350Z GT Coupe 286BHP
Now:2010 E92 LCI 335d M-Sport |
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06-14-2011, 09:35 AM | #26 |
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The trouble is here is we are in the territory of what my wife calls ‘man maths’. ‘Man maths’ is the complex process of assumptions and calculations that need to be balanced out in order to prove to oneself, and also, more often than not, ones partner that the decision to purchase a given car is not only the ‘right’ decision, but ultimately the most sensible one financially. Whilst it took me 3 attempts to achieve ‘O’ Level Maths, I have studied hard and am proud to have achieved a Masters Degree in ‘Man Maths’. Having gone over your calculations with a fine tooth comb, I can confirm that there is a clear fiscal benefit in your upgrading to an M3 at the earliest opportunity. QED.
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06-14-2011, 09:41 AM | #27 | |
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Quote:
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Previously: 2003 Peugeot 206 1.6 8v | 2006 E90 320d M-Sport, 19" BBS CH, Full Ice-cold JL audio install, August 2010 Total BMW 6 page feature car. | 2003 Nissan 350Z GT Coupe 286BHP
Now:2010 E92 LCI 335d M-Sport |
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06-14-2011, 01:00 PM | #29 |
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Don't get too caught up with pcp deals with a balloon, you could buy it over 5 years for around £430 a month. At least if after 3 years you want to keep it you can, you're not forced to sell or find £13000.
http://www.dynamic-webs.co.uk/inform...alculator.html |
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06-14-2011, 01:21 PM | #30 |
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I kinda think if you are going to buy an M car and then cheap out putting Falkens on it you are buying the wrong car. M power ownership is something you have to take a cost no object approach to ownership over.
Which is one of the reasons why it isn't something I aspire to. |
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06-14-2011, 02:08 PM | #31 | |
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Quote:
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Previously: 2003 Peugeot 206 1.6 8v | 2006 E90 320d M-Sport, 19" BBS CH, Full Ice-cold JL audio install, August 2010 Total BMW 6 page feature car. | 2003 Nissan 350Z GT Coupe 286BHP
Now:2010 E92 LCI 335d M-Sport |
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06-14-2011, 02:58 PM | #32 |
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I do agree with that though, the PS2 is a very progressive tyre and it really lets you feel the cars back end and what it is doing, where as the Falkens grip a little longer but then just let go. Never going to really get the most from an M3 with 452's on it.
I put them on the CSL and it absolutely ruined it, had to take them off after 1000 miles it changed it that much. |
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