[Surturminn]

https://www.petervardy.com/bmw/offer...SAAEgLNd_D_BwE

£859 down, £859 pm with 3.9% APR, GFV £35701 48 months

Not sure if those options are actually on the car......

• 20" M Light Alloy Y-Spoke Style 789 M Wheels
• Kidney Grille in Black High-gloss
• M5 Competition Designation to Boot Lid in Black
• Mirror Caps in Black High-Gloss
• Enhanced and Lowered Chassis
• Metallic Paint
• M Sport Exhaust System with Black Tailpipes
• M5 Competition Designation in Black
• Side Gills with M5 Designation in
• Black High-Gloss
• Rear apron insert in Black High-Gloss

[Squintstream]

Don't get me wrong, but £859 per month on a car you don't actually own! Seems silly in my, perhaps blinkered, opinion!

[Pequin]

Originally Posted by Squintstream

Don't get me wrong, but £859 per month on a car you don't actually own! Seems silly in my, perhaps blinkered, opinion!

I have to agree - I looked at PCP on an SQ5 and at the end of the deal, after having paid more than the value of the car + deposit, there was still > £15K to pay on a used car. HP all the way if you have a big deposit and are happy to go down that route.

[dazzapb]

All depends if it depreciates more than that around 41k over 4 years - seems decent to me to drive a 90k list 600 BHP monster you can always buy at the end for the balloon payment.

then again my judgement is skewed with nursery costs almost double that

[isleaiw1]

Originally Posted by Surturminn

https://www.petervardy.com/bmw/offer...SAAEgLNd_D_BwE

£859 down, £859 pm with 3.9% APR, GFV £35701 48 months

Not sure if those options are actually on the car......

• 20" M Light Alloy Y-Spoke Style 789 M Wheels
• Kidney Grille in Black High-gloss
• M5 Competition Designation to Boot Lid in Black
• Mirror Caps in Black High-Gloss
• Enhanced and Lowered Chassis
• Metallic Paint
• M Sport Exhaust System with Black Tailpipes
• M5 Competition Designation in Black
• Side Gills with M5 Designation in
• Black High-Gloss
• Rear apron insert in Black High-Gloss

No, that price is for a standard car. Some of those things relate to Competition. Most of the sick cars have upwards of £4K of extras so end price is a tad more than those numbers quoted...

But still worth it tick a couple of bucket list items for me!

[isleaiw1]

Originally Posted by Pequin

I have to agree - I looked at PCP on an SQ5 and at the end of the deal, after having paid more than the value of the car + deposit, there was still > £15K to pay on a used car. HP all the way if you have a big deposit and are happy to go down that route.

You won’t get 3.9% Apr on a loan above £25k so you would need a very big deposit.

I will do with this what I did with the last one (an SQ5..) - after 18 months make a call on whether I am likely to keep it and buy it out. If so I will pay down the finance in chunks so that by end of year 3 I own it.

Or I will send it back after 2 to 3 years for whatever is next.

[330XDave]

Originally Posted by Squintstream

Don't get me wrong, but £859 per month on a car you don't actually own! Seems silly in my, perhaps blinkered, opinion!

Maybe but the people who look at buying this type of car generally have a high amount of disposable income.

[TouringPleb]

Originally Posted by Squintstream

Don't get me wrong, but £859 per month on a car you don't actually own! Seems silly in my, perhaps blinkered, opinion!

Mr TP used to get £1,000 a month car allowance. Although that was taxable and he didn't spend it all on a car, I'm sure there are those who think if that's how much I get that's what I can afford a month.

[isleaiw1]

Originally Posted by Squintstream

Don't get me wrong, but £859 per month on a car you don't actually own! Seems silly in my, perhaps blinkered, opinion!

You own it as much as a car on HP or a bank loan, you are just financing more and maybe paying it all down. But then when I bought on HP I rarely kept it until the finance was completed so I had a balance owing when I traded...

I can afford it.. it makes me happy. I don’t have nursery fees. Or a wife. Or indeed young kids. To keep me from doing something completely silly I have a rule that whatever I pay a month for a car I also have to put into my stocks and shares ISA....so this is encouraging me to save more....

I own my other car outright - a 65 plate Mini Cooper Chilli 5 door for the station run...

[isleaiw1]

Originally Posted by TouringPleb

Mr TP used to get £1,000 a month car allowance. Although that was taxable and he didn't spend it all on a car, I'm sure there are those who think if that's how much I get that's what I can afford a month.

I get £7500 a year - but I don’t even need a car for my job! It’s just a way to give me part of my salary as non bonusable or pensionable....


I spend the same now as I used to spend on two when Mrs W was around - and I earn more and spend less elsewhere. The benefit of age..

[Wills2]

Originally Posted by TouringPleb

Mr TP used to get £1,000 a month car allowance. Although that was taxable and he didn't spend it all on a car, I'm sure there are those who think if that's how much I get that's what I can afford a month.

There is a delicious piece of man maths that you can work to prove you're actually getting the full £1000 in your account.

All things being equal it would right to say that your £1000 after 40% tax gives you £600 to spend on a car however you're never going to get yourself into a car you can't afford with that kind of straight line thinking.

Man maths teaches that in order to get yourself back to the full £1000, you first need to "create" a comparative example, so look at how much BIK a company car would cost per month, lets pluck a number, say £400.

Subtract that from your net monthly to give you a comparative figure to base your man maths from. Then take your net monthly including the car allowance (excluding the BIK) and as if my magic your £1000 has arrived and you've never been so close to that M5.

[isleaiw1]

Originally Posted by Wills2

There is a delicious piece of man maths that you can work to prove you're actually getting the full £1000 in your account.

All things being equal it would right to say that your £1000 after 40% tax gives you £600 to spend on a car however you're never going to get yourself into a car you can't afford with that kind of straight line thinking.

Man maths teaches that in order to get yourself back to the full £1000, you first need to "create" a comparative example, so look at how much BIK a company car would cost per month, lets pluck a number, say £400.

Subtract that from your net monthly to give you a comparative figure to base your man maths from. Then take your net monthly including the car allowance (excluding the BIK) and as if my magic your £1000 has arrived and you've never been so close to that M5.

That worked all the time until I worked somewhere that gave me a car allowance but didnt give me a company car option..... hence the S60 that I did 130k miles in!!

My man maths now is that I used to run two nice cars as my wife had one, and now I only have to run one (station car doesnt count...) so I can put twice as much into one....

M5 arrived!

[Wills2]

Originally Posted by isleaiw1

That worked all the time until I worked somewhere that gave me a car allowance but didnt give me a company car option..... hence the S60 that I did 130k miles in!!

My man maths now is that I used to run two nice cars as my wife had one, and now I only have to run one (station car doesnt count...) so I can put twice as much into one....

M5 arrived!

Advanced quantum man maths disregards the availability of a company car for comparative purposes.

It has indeed, very nice but I think it needs a set of Competition black grilles to set it off....just saying.

[isleaiw1]

Originally Posted by Wills2

Advanced quantum man maths disregards the availability of a company car for comparative purposes.

It has indeed, very nice but I think it needs a set of Competition black grilles to set it off....just saying.

Not the first to say that - may do it when I debadge it then there will be no chrome...

[gangzoom]

Originally Posted by dazzapb

All depends if it depreciates more than that around 41k over 4 years - seems decent to me to drive a 90k list 600 BHP monster you can always buy at the end for the balloon payment.

then again my judgement is skewed with nursery costs almost double that

Nursey costs are fun aren't they!!

I was changing the tax credit payment for our daughter this month as it drops quite a bit with 'free' 30hrs, but I fluffed it and ended up sending £2300 this month to the nursery.

Than I realised some of my colleagues with 2-3 kids are paying that amount (and more) each month on child care.

£900/month on a M5 even with added in running costs is cheap compared to kids.

[aquazi]

Originally Posted by gangzoom

Nursey costs are fun aren't they!!

I was changing the tax credit payment for our daughter this month as it drops quite a bit with 'free' 30hrs, but I fluffed it and ended up sending £2300 this month to the nursery.

Than I realised some of my colleagues with 2-3 kids are paying that amount (and more) each month on child care.

£900/month on a M5 even with added in running costs is cheap compared to kids.

Haha - our nursery fees of £2.4K per month for 2 kids would get a couple M5's with fuel!!!

[isleaiw1]

Originally Posted by aquazi

Haha - our nursery fees of £2.4K per month for 2 kids would get a couple M5's with fuel!!!

Yep, I have never paid nursery fees - Mrs W never went back to work...

I do still help my kids a bit (aged 26 and 27) - not because they needs it but because I can.

I dont pay £900 a month either - not even apportioning the deposit. £675. But I did put down a fair deposit....

[Wills2]

Originally Posted by aquazi

Haha - our nursery fees of £2.4K per month for 2 kids would get a couple M5's with fuel!!!

That's mental, that's the equivalent of almost £40,000 gross salary.

Wouldn't a nanny be cheaper?

[aquazi]

Originally Posted by Wills2

That's mental, that's the equivalent of almost £40,000 gross salary.

Wouldn't a nanny be cheaper?

Its £55pd each... but tbh they learn alot being around other kids... and with the government tax free child care we effectively get £2k “free”... and once 30hrs free kicks in that will save about £110pw!

Cost of child ownership

[Arcticdan]

Might have to think about opening up one of these Nurseries sounds like a licence to print money!

[isleaiw1]

Originally Posted by aquazi

Its £55pd each... but tbh they learn alot being around other kids... and with the government tax free child care we effectively get £2k “free”... and once 30hrs free kicks in that will save about £110pw!

Cost of child ownership

So it doesnt cost you £2400 then it costs £400? or you mean you get £2k tax free?

Daughter pays £1200 a month and if I understand rightly they get f*** all help....

[aquazi]

£28.8k per yr is the annual cost.

Open a government childcare account (https://www.gov.uk/get-tax-free-childcare) you can effectively get £500 every 3 months topped up to your account.