How do people afford BMWs?

I’m extremely pleased that people keep buying expensive cars.

My Discovery cost me £10k – it was 5 years old, and whoever bought it paid £46k new. Apart from insuring it, and fuel at 30mpg, it’s cost me £300 for a suspension compenent in the 10k miles I’ve driven. It’s £200 or so for a service.

Assuming I don’t do anything stupid with it, it’ll still be worth £8k two years hence, when I’ll swap it out. Ownership costs (excluding fuel & insurance, but including servicing/parts – new cars tend to have this covered for 3 years etc) over 3 years/35000 miles would be around £85/month or 8.5p mile.

There’s no way that I could get a new Disco for anything close to £85/month, so I’m happy with my choice.

I used to have a colleague ten yours younger than me who was highly disgruntled that he was forced to drive a poxy Audi A4 like all the other reps. He once said to me “I will not be satisfied with anything less than a beemer on my drive.” His problem was that he had a caravan at Abersoch, which is the Welsh posing resort for rich builders and footballers from Cheshire and he judged people by the car they drove; he even said to me once: “They’re all nice people; they drive BMWs, Mercs, Porsches…. lovely cars….”

He approached the boss several times asking for a BMW and each time was told “If you don’t like it, there’s the door!” Eventually he gave up his well paid secure job here and talked himself into a job with a competitor who isn’t doing very well, one of the conditions being that they gave him a BMW M3. Then we heard that he had bought a chalet at Vulgarsoch, which was at the end of his life and he and his wife had needed to take out a mortgage for £90,000 to buy the new chalet that they were contractually obliged to put on the site.

I can only conclude that BMWs are status symbols for muppets.

Global – Sorry I think you are wrong BM’s are very good cars and I would have one tomorrow if I could, but unfortunately unless you can get one through a business it doesnt make economic sense.

I think that all the premium car manufacturers get a bad rep because at the end of the day sales reps etc aspire to them and see them as a status symbol etc etc, and couldnt afford to buy one for themselves, so it starts the I’m better than you penis envy thing, which is a shame.

They are all very good cars, but unfortunately very expensive to buy privately.

@nickf That’s the sensible way to do it, buying the right car at the right age and condition for the right price. It’s a bit of a balancing act, but not that hard to get right.

One mate had a stirng of BMWs and I was unimpressed/less than impressed with all of them – particularly a 525e which wallowed all over the place.

I saw an ex-work colleague the other day who has a new 5 series.

There is a road to Camberley (red road?) that has lovely sweeping corners and real flow – he doesn’t like it as he feels out of control !!!

One night I was driving back on the motorway and it was teeming down with rain and aquaplaning was the order of the day. One BMW that passed me lost control and went into the central barrier and I saw about 3 other pulling over into the hard shoulder for some reason on my journey home.

Overrated status symbols in my view.

SE in this context is Special Edition, which gives met. Paint and some other bits (parking sensors, bigger wheels) for a couple of hundred quid, so it works out better value than a standard s-line.

I’m obliged.

“There is a road to Camberley (red road?) that has lovely sweeping corners and real flow – he doesn’t like it as he feels out of control !!!”

Could just be that he prefers dull less entertaining cars like Audis that dont offer the same amount of feedback and driving entertainment.

Personally can’t understand why someone would be happy shelling out anywhere between £250-£350 a month for what at the end of the day are some pretty mediocre new cars. BMW 316 or 318, Audi 2.0ltr Diesel Estate – hardly cars that set the heart racing are they? Dull, dull, dull. Automotive porridge? Struggling to get my head round it to be honest.

Why not spend the money on something nice to drive instead. Sure if you want a BMW for the same money as that new 318i you could have a 4-5 year old M3 Coupe and still have cash to spare to cover the extra fuel and insurance. For less than half the price of a boggo and boring new 2.0 A6 you could get a ten year old RS4 – a car that is no longer depreciating at all.

If cash up front is the problem then get a personal loan out to cover the purchase cost. The best thing is at the end of the loan period you will still have a car to sell or part-ex. With a finance package you are left with either a massive final payment, or nothing. You won’t be limited to a poxy 10k (or whatever the leasing company dictate) miles a year either.

It’s like when you compare it to bikes – what would you rather take to your local trail centre. A brand new Halford’s special for £400, or for the similar money a 5-6 year old high spec but used Specialised, Marin, Orange, Santa Cruz etc. Sure you might have to replace the odd part now and again but think of how much more fun you will have.

SE in this context is Special Edition, which gives met. Paint and some other bits (parking sensors, bigger wheels) for a couple of hundred quid, so it works out better value than a standard s-line.

“Parking Sensors” – is this a ‘must have’ option? Surely you have passed your driving test at some point?

I’m getting a company car, and haven’t got a clue what my choices are.

I last time worked for them was in 1996 and the first A4s had just come on the scene as company cars. What would the equivalent be today?

You won’t be limited to a poxy 10k (or whatever the leasing company dictate) miles a year either.

You’re limited to what you choose and pay for not what the lease company decides.

It’s all about choices, some go second hand cheap £500 bangers, some go for second-hand executives for £8k that were once £40k and some go for a brand new £28k car. It’s a choice and can’t get why people feel the need to criticise others choices.

Is that the catch on lease cars, limited mileage?

GAP insurance? If you write the car off within three years, not only do you get the current value, but the GAP insurance makes up the shortfall so that the total amount you get back is the same as you paid for the car new.

I’ve lost count of the number of times people have slammed on their brakes in front of me trying to get me to run into the back of them, perphaps fianaces are tight or they fancy a new car….

“I’ve lost count of the number of times people have slammed on their brakes in front of me trying to get me to run into the back of them, perphaps fianaces are tight or they fancy a new car….”

… or they think you are driving too close 🙂

Is that the catch on lease cars, limited mileage?

Some are limited to 10k a year, but the biggest catch is you have to pay for ever tiny bit of damagae when you hand the car back. I’ve heard of people being charged £2500 for a respray when the car has only a few scratches and stone chips that you’re always going to pick up no mater how carefull you are. The lease company won’t get the paintwork done, but will pocket the money and sell on the car as is.

Is that the catch on lease cars, limited mileage?

No. You set the limit but obviously pay extra the more you have, it’s doesn’t vary that much though.

Some are limited to 10k a year, but the biggest catch is you have to pay for ever tiny bit of damagae when you hand the car back.

Not paid a single penny yet.

In the event of a write off the GAP insurance on my car only pays out on the difference between the insurance payout on the car and the amount owed to the finance company – probably only an issue for the first 12 months or so of the lease agreement. Given the amount of hassle I had after having a lease car stolen and never recovered I can’t believe anyone would deliberately write off their car to claim on a GAP policy. A year later I am still getting random bills off the lease company.

I drive a nearly 4 year old BMW 320 M Sport, had it from new. Came through a company arranged personal lease with a purchase price of about £25k. I receive a car allowance and a condition of this is a car no older than 6 years and no more than 120k miles on the clock.

I could have had a cheaper new runaround but as my allowance and saving on company car tax covered the cost of the lease on the BMW I decided to go for it as it seemed nice to have it over the Vactra I had before.

Apart from it being a little small for my young family it’s been the best car I have ever (and will ever) own (through finance). At Christmas I can either make the final payment and buy it outright or give it back. At the moment I’m torn which way to go but chances are I will go for something that costs me a bit less each month so I can pocket the difference.

As I see it comparable motors from the more conventionally common manufacturers are priced similarly to equivalent “premium” brands and from my experieince the level of finish on my my BMW is overall a little better. This may not be an issue and it’s not in massive areas, it is just a bit slicker.

How does insurance work for a leased car?

Oy! Gary_C, now I’m upset. I thought you were keeping an eye out for a little diesel for my Mrs. That 1 series sounded spot on. 😉

Generally, I gotta say that I’m continually shocked at how many new, high cost motors are on the road. Not that many folk have company cars these days, so there must be a fair few folk who lease/buy on a personal basis.
That’s their choice.
I’m more focussed on cost of ownership and generally work on an assumption that any car itself (depreciation, oil changes and tyres) should cost me no more than £1k per year (c.20k miles). More than that and I start to get depressed. 😥

I have friends who have bought expensive motors new (not a Beemer but a V70 & a Sharan) but they both have the sense to see them as long term depreciating assets and plan to keep them for at least 10 years. The depreciation is not unreasonable when you work on those sort of timescales. I might even possibly consider a big Beemer oil-burner on that basis.

‘cos everybody is a drug dealer innit

Ohh someone mentioned Christmas and BMWs. Are they still an issue in the snow?

I’d like a Golf, am I way out of touch?

Ewan, with may car it’s treated as my own (registered in my name) and I insure it as my own car.

In terms of maintenance I pay a monthly fee which equate to about a grand a year and fro that i have no further servicing, repair or (lately) MOT bills. I wouldn’t epect a lot to go wrong with a new car but as I’ve gone through 6 tyres due to nails and screws and have not had to pay anything towards them it’s not so bad.

“Ohh someone mentioned Christmas and BMWs. Are they still an issue in the snow?”

Its not a BMW problem! Its people not understanding that rear wheel drive cars are more difficult to drive in snow. I guess that does kind of show that that most people buy BM’s as status symbols though, as they quite clearly dont have a clue which wheels drive the car!

Touch of the green eyed monster here which is a shame.

BMW make very good cars I think that’s unquestionable as do Audi, Mercedes and many others.

It is true that many people feel that their car is a status symbol, others just enjoy driving, some do big miles and want a large comfortable car and so on, the list of motivations is endless.

The only truism that I have noticed is that we as a nation seem to judge affordability differently than was the case in the past. Now something is affordable if you can afford the payments whereas in the past something was affordable if you had the savings or cash handy.

Then, we invested in the future, now we borrow from it which does seem a little risky but with interest rates at 0.5% why not?

Oy! Gary_C, now I’m upset. I thought you were keeping an eye out for a little diesel for my Mrs. That 1 series sounded spot on.

My new BMW is diesel in fact its my first diesel and I am way impressed, powerful, MPG is amazing and it has less emissions that a fairy’s fart.

And I’ve never had any problems with any of my BMWs in the snow.

My 1 series was terrible in the snow. When it snowed I just left it parked on the drive, as it would embarrassingly get stranded on the slightest incline.

Maybe it’s down to driving technique.

Any RWD is more difficult in the snow that FWD. However you just have to accept the car will go sideways, and that you have to be prepared to keep momentum up.

3 years ago I was getting up stuff in a RWD MX5 that most people were struggling up in FWD. However if I had stopped and tried to get going again it would have been impossible.

🙂

Maybe it’s down to driving technique.

Well if it is I never found the right technique, and I have driven plenty of RWD cars in the past. I have never had a problem in any other car, but getting the 1 series started on a uphill incline covered in snow was very difficult. It probably didn’t helped that mine was fitted with wider rear tyres than most of them. Maybe a few bags of gravel in the boot would have helped?

Jason – Your on to a looser trying to get any rwd started on a hill in snow.

Maybe it’s down to driving technique.

To some extent yes, but you can’t get away from the fact that most rear wheel drive cars are absolutely rubbish in the snow compared to front wheel drive – unless you have winter tyres of course. Weight, wide tyres and rear wheel drive are all enemies of snowy conditions.

Back in the depths of Wales where I grew up, most of the local farmers used to keep an old small lightweight FWD car somewhere in the barn for when the snow arrived. Usually these were French cars, Renault 5, Peugeot 205, Citroex AX etc with thin tyres. This meant that when the snow arrived, they could still get out and about, down to the shops etc, etc. You’d be surprised how good any of these cars is in the snow – better than a lot of proper 4×4’s

To some extent yes, but you can’t get away from the fact that most rear wheel drive cars are absolutely rubbish in the snow compared to front wheel drive

I don’t doubt that, but for us in most of the UK it really isn’t a great issue in that we don’t have regular heavy snow.

How much more would/does it cost to run a second hand BMW? eg 2002-2005 5-series estate? I’m comparing to eg Accord, Mazda6, Mondeo. There seems to be a lot of choice, and you undoubtedly get a lot of car, but what kind of premium would I be paying on insurance, etc?

Funkydunc – how come you don’t have the chains on the drive wheels?

St – is that a grand a year on top of the lease fee or is a portion of the £xxx a month account for that.

“Funkydunc – how come you don’t have the chains on the drive wheels?”

Its not my car! It was a picture that did the rounds last year when there was a thread about numpty BMW drivers!

And for the record I would never buy a 1 series as they are tiny, poorly built and no cheaper than a 3 series, I cant see why any one would buy one ?!!?

Lad used to work for us had a Audi A4 convertible on a lease deal.

He couldn’t drive it as he needed 2 new tyres and the lease company had a T&C that stated only certain brands could go on and he couldn’t afford them.

He was such a ******* cock.

Back in the depths of Wales where I grew up, most of the local farmers used to keep an old small lightweight FWD car somewhere in the barn for when the snow arrived. Usually these were French cars, Renault 5, Peugeot 205, Citroex AX etc with thin tyres. This meant that when the snow arrived, they could still get out and about, down to the shops etc, etc. You’d be surprised how good any of these cars is in the snow – better than a lot of proper 4×4’s

& most I guess, would have proper winter tires on, makes such a difference, we used to run winter tires all year round on all our farm kit (Peugeot 205).

Forget BMWs, instead take a drive around Kensington, Chelsea, Mayfair or similar and marvel instead at how many multi-millionaires there must be given that you are driving past many hundreds of properties which all cost well over £1m. And many with £80,000 cars parked outside. I don’t know why but it fascinates me that there are just so many people that can afford that kind of thing. Good for them and all that, nothing against them.