[Lewis Mc]

As you all know, i hate my car, hence its for sale, so someone buy it

Anyway am toying with getting a e92 M3 manual, and just to keep it forever,
Do you think future wise it will retain most of its value, maybe even?

Edit : perhaps a Z4m... But less luggage space is a long term problem

[Kal101]

Good sales technique that .. I hate my blinking car someone PLEASE buy it !!!

Give you a fiver for it CASH !!

Ps the M3 should hold its value over a long period of time. My Manta which is now 28 yrs old is valued at its original purchase price. However I've paid a lot on servicing shares repairs etc etc.

Buy something you'll enjoy


After the house of course !!!

[Lewis Mc]

Originally Posted by Kal001

Good sales technique that .. I hate my blinking car someone PLEASE buy it !!!

Give you a fiver for it CASH !!

Ps the M3 should hold its value over a long period of time. My Manta which is now 28 yrs old is valued at its original purchase price. However I've paid a lot on servicing shares repairs etc etc.

Buy something you'll enjoy


After the house of course !!!

I do hate it though, its to bloody slow still.... Much better than a 335d

Yess yess the house is still being saved for haha help to buy isa still has 3 years left anyway , so rather have and pay for a car i like such as an m3 than one i dont like.

Hmm repairs and bills dont factor into the man math so even if it held half its value after 10 years id be happy, id probably look to gut it out and make it light as possible

[BnB]

Originally Posted by Kal001

Good sales technique that .. I hate my blinking car someone PLEASE buy it !!!

My Manta which is now 28 yrs old is valued at its original purchase price. However I've paid a lot on servicing shares repairs etc etc!

And inflation has halved the value of that residual. Your advice to enjoy the car above all is spot on.

[WeaverBeaver]

Originally Posted by Lewis Mc

I do hate it though, its to bloody slow still.... Much better than a 335d

Yess yess the house is still being saved for haha help to buy isa still has 3 years left anyway , so rather have and pay for a car i like such as an m3 than one i dont like.

Hmm repairs and bills dont factor into the man math so even if it held half its value after 10 years id be happy, id probably look to gut it out and make it light as possible

Lewis sorry to hijack the thread and come off all preachy....

I'm only early 30s and bought first house a couple of years ago, my advice (which you're free to take or reject) is at your age/personal situation, capital position rules. If you sold the car, used the proceeds to boost your house deposit, and then had a car on contract hire or PCP for an affordable amount per month, would that put you in a much more advantageous position to get on the property ladder sooner and take advantage of rates while they're still low?

Remember help to buy makes it easier to get onto the ladder but the mortgage interest rate you'll pay will be a lot worse than if you can stump up 10% yourself without the assistance. The money you'd save in interest per month by having a 90%/85% LTV mortgage vs. help to buy rates effectively based on 95% LTV might be fairly chunky...

We all love our cars, but a house is the biggest and most important investment we make in our lives!

[Lewis Mc]

Originally Posted by WeaverBeaver

Lewis sorry to hijack the thread and come off all preachy....

I'm only early 30s and bought first house a couple of years ago, my advice (which you're free to take or reject) is at your age/personal situation, capital position rules. If you sold the car, used the proceeds to boost your house deposit, and then had a car on contract hire or PCP for an affordable amount per month, would that put you in a much more advantageous position to get on the property ladder sooner and take advantage of rates while they're still low?

Remember help to buy makes it easier to get onto the ladder but the mortgage interest rate you'll pay will be a lot worse than if you can stump up 10% yourself without the assistance. The money you'd save in interest per month by having a 90%/85% LTV mortgage vs. help to buy rates effectively based on 95% LTV might be fairly chunky...

We all love our cars, but a house is the biggest and most important investment we make in our lives!

If I sold the car It'd be for break even on the finance, So no boost to house savings in the term of a lump sum.

Already saving 1k per month towards my house, of which part is the Help To Buy ISA which takes 4ish years to complete anyway, it only started in november so have to wait till near end of 2019 to get me free 3k , so by then i'll roughly have 40k give or take.

So...that means keep this 116i @ 300pm and hate or buy a car that ill enjoy for less monthlies and want

Although am also toying with not buying a house, but building one i want :P

[WeaverBeaver]

Originally Posted by Lewis Mc

If I sold the car It'd be for break even on the finance, So no boost to house savings in the term of a lump sum.

Already saving 1k per month towards my house, of which part is the Help To Buy ISA which takes 4ish years to complete anyway, it only started in november so have to wait till near end of 2019 to get me free 3k , so by then i'll roughly have 40k give or take.

So...that means keep this 116i @ 300pm and hate or buy a car that ill enjoy for less monthlies and want

Although am also toying with not buying a house, but building one i want :P

Fair enough mate, sorry if I misinterpreted / misjudged.

You seem to know what you're doing.

Yes - for £300 a month you could defo be in some decent metal you'd enjoy a whole lot more! Have you looked at some of the awesome contract hire deals you can get when on special offer? I know they're fairly common now, but for e.g. Golf R at < £250 a month is pretty hard to ignore, or m sport 335d for around £300...

[Lewis Mc]

Originally Posted by WeaverBeaver

Fair enough mate, sorry if I misinterpreted / misjudged.

You seem to know what you're doing.

Yes - for £300 a month you could defo be in some decent metal you'd enjoy a whole lot more! Have you looked at some of the awesome contract hire deals you can get when on special offer? I know they're fairly common now, but for e.g. Golf R at < £250 a month is pretty hard to ignore, or m sport 335d for around £300...

Its no problem !

and I yea seen a view good deals on here and around, but not to sure I want to get into another new car, tbh not entirely sure yet , need to see mine go first !

[JustChris]

Yea I think I you but the E92 M3 right it will depreciate slowly.

[deebee]

Are we in a time warp!?

This seems like the exact same sort of rationalising you went through last year?

Bottom line is, will cost you more = less money for house

You've done well to keep the 116i this long though, you went through some agonising!

Its your money at the end of the day, go out and buy a big thirsty car if you want and have a massive good time in it but could mean less cash for house or keep saving and be a bit duller but keep on track

Have you seen how much insurance, tax and servicing costs are for the v8 m3??

[PurpleTT]

Lewis I think I may have mentioned before I'm "in the trade" so to speak and couple of things to pique your interest...
1) Starter Homes are coming, trust me. 20% of every new build development over 10 units will be Starter Homes sold at a 20% discount. The Housing & Planning Bill is between the Lords & Commons at present but will get Royal Assent before the Summer Recess and Planning Regs will fix the obligation during late Summer.
2) As it currently stands you can even apply Help to Buy on the 80% you have to buy.
3) Did you hear Barclays now offer a 100% mortgage (although someone, bank of mum & dad for example has to deposit 10% for 3 years as a sort of guarantee).2.99% for 3 years is pretty darn competitive given it's 100%.
4) The Homes & Communities Agency announced the next funding Prospectus for Affordable Housing is £4.1bn to create an additional 135,000 shared ownership properties on top of the target 200,000 Starter Homes.

So in a nutshell keep an ear out as you save your hard earned as you may find you get your new gaff sooner than you imagined.

[Lewis Mc]

Originally Posted by The Doctor

Are we in a time warp!?

This seems like the exact same sort of rationalising you went through last year?

Bottom line is, will cost you more = less money for house

You've done well to keep the 116i this long though, you went through some agonising!

Its your money at the end of the day, go out and buy a big thirsty car if you want and have a massive good time in it but could mean less cash for house or keep saving and be a bit duller but keep on track

Have you seen how much insurance, tax and servicing costs are for the v8 m3??

Nope nothing like last year, I was getting out of a car to save more for a house, This time i never mentioned a house at all, am simply wanting to get a different car albeit with the same or less monthlies and paying now, but one i actually want and enjoy. There will always be 1k for a house being saved regardless of the car ,

I'm simply asking that If i were to get a M3 , would the price hold roughly for the next 4 years or so due to its V8 etc etc

Originally Posted by PurpleTT

Lewis I think I may have mentioned before I'm "in the trade" so to speak and couple of things to pique your interest...
1) Starter Homes are coming, trust me. 20% of every new build development over 10 units will be Starter Homes sold at a 20% discount. The Housing & Planning Bill is between the Lords & Commons at present but will get Royal Assent before the Summer Recess and Planning Regs will fix the obligation during late Summer.
2) As it currently stands you can even apply Help to Buy on the 80% you have to buy.
3) Did you hear Barclays now offer a 100% mortgage (although someone, bank of mum & dad for example has to deposit 10% for 3 years as a sort of guarantee).2.99% for 3 years is pretty darn competitive given it's 100%.
4) The Homes & Communities Agency announced the next funding Prospectus for Affordable Housing is £4.1bn to create an additional 135,000 shared ownership properties on top of the target 200,000 Starter Homes.

So in a nutshell keep an ear out as you save your hard earned as you may find you get your new gaff sooner than you imagined.

There's a slight few problems there,

1- HTB ISA still takes 4 years to get my free 3k , so wont be sooner than that i'm 90% sure,
2 - I absolutely hate new builds (gleeson,barratt,bellway), there built of paper, badly done and not worth the money, my opinion ofcourse, I much prefer older well built houses
3 - I've looked into that barclays one and the springboard mortgage, but I'm not comfortable with them tbh, Id rather put my own money down and not hassle with that type of stuff, plus 75% mortgages seem to be the sweet spot for best rates

[dopper99]

Originally Posted by The Doctor

....

Have you seen how much insurance, tax and servicing costs are for the v8 m3??

^^^ £500 a year road tax and 15-20mpg on an old car would put me right off. There are cars that are much cheaper to run and nearly as fast (although not as much fun granted).

Mentioning this as the guy is trying to save for a house!!!!!!!!!!

[dopper99]

And with respect to would the V8 M3 hold its money.......

Did the E46 M3 hold its money (genuine question - I dunno)? This is a well respected M car in its day so no reason for that model to lose its money too much. So I assume the V8 M3 will follow suit in its footsteps on depreciation?

[rich100]

Ah I do love the annual Lewis thread .

Mate I think you're doing fine if you're stashing away a grand a month. If you can continue to save at that level then I'd say go for it and enjoy.

I guess the comments above about insurance are worth considering though I'd imagine it could be quite heavy at your age in an m3.

Have you got anything else on your short list? Maybe Cayman or boxter s?

[Lewis Mc]

Originally Posted by rich100

Ah I do love the annual Lewis thread .

Mate I think you're doing fine if you're stashing away a grand a month. If you can continue to save at that level then I'd say go for it and enjoy.

I guess the comments above about insurance are worth considering though I'd imagine it could be quite heavy at your age in an m3.

Have you got anything else on your short list? Maybe Cayman or boxter s?

Well i do try to to discuss different topics but everyone jumps to a house

Me - Hi guys, which colour... Blue or red forum - SAVE FOR A HOUSE!
Me - hi guys i have green discharge forum - SAVE FOR A HOUSE!



Anyway..... Looking at something under £10k for another car brand,
Or 16k for the M3, not bothered if its an old one it'll have its arse ragged anyway

Looked at s2000, z4m, porsches, but... Mainly boot size and not bike rack friendly so they go out the window really, i suppose i could use my mums 320i, seen as i bought her the thing haha, but i want something fast, petrol and preferably bmw although anything else that crops up i may look at,

[robwils]

Originally Posted by Lewis Mc

Well i do try to to discuss different topics but everyone jumps to a house

Me - Hi guys, which colour... Blue or red forum - SAVE FOR A HOUSE!
Me - hi guys i have green discharge forum - SAVE FOR A HOUSE!



,

Dont want to be OTT, but I think there trying to offer some good advice, most of them / us have been there and bought T shirt

Its hard I know mate, but generally no short cut unless you get lucky.

When I moved I bought a Fabia VRS SE, kept for 3 years, only lost about £1.5K, but obviously doesnt hit your criteria.

I guess depreciation is anyones guess really.

Car that have depreciated least that Ive owned

Impreza WR1
Mini Cooper S
Fabia as above.

But all with hindsight really, any derivatives of above going forward ?

[Canary_Yellow]

Originally Posted by Lewis Mc

If I sold the car It'd be for break even on the finance, So no boost to house savings in the term of a lump sum.

Already saving 1k per month towards my house, of which part is the Help To Buy ISA which takes 4ish years to complete anyway, it only started in november so have to wait till near end of 2019 to get me free 3k , so by then i'll roughly have 40k give or take.

So...that means keep this 116i @ 300pm and hate or buy a car that ill enjoy for less monthlies and want

Although am also toying with not buying a house, but building one i want :P

You clearly know what you're doing, but I'm going to chuck my point in anyway....

Is it worth waiting for the help to buy ISA to mature?

Yes, you get the free £3k, but that's nothing in the context of how house prices are rising in my area. If they continue at that rate, investing in a house as soon as possible is a better investment than the help to buy ISA.

Same goes for waiting to get a 25% deposit, yes, having a big deposit is great and gets you a lower rate. But if house prices keep rising then the additional purchase price of the house will outweigh the benefit of the lower interest rate. Also, the sooner you buy the sooner you benefit from house prices rising.

Just my thoughts. I'm sure you've factored all of this in, and of course, everything I've said relies on the housing market continuing to rise.

[Lewis Mc]

Originally Posted by robwils

Dont want to be OTT, but I think there trying to offer some good advice, most of them / us have been there and bought T shirt

Its hard I know mate, but generally no short cut unless you get lucky.

When I moved I bought a Fabia VRS SE, kept for 3 years, only lost about £1.5K, but obviously doesnt hit your criteria.

I guess depreciation is anyones guess really.

Car that have depreciated least that Ive owned

Impreza WR1
Mini Cooper S
Fabia as above.

But all with hindsight really, any derivatives of above going forward ?

Good advice but as I've said many times before, am saving more than enough as is and i have a timeframe for it, none of that is changing :P

hmm the impreza appeals to me... may have a look at some of them,

Originally Posted by Canary_Yellow

You clearly know what you're doing, but I'm going to chuck my point in anyway....

Is it worth waiting for the help to buy ISA to mature?

Yes, you get the free £3k, but that's nothing in the context of how house prices are rising in my area. If they continue at that rate, investing in a house as soon as possible is a better investment than the help to buy ISA.

Same goes for waiting to get a 25% deposit, yes, having a big deposit is great and gets you a lower rate. But if house prices keep rising then the additional purchase price of the house will outweigh the benefit of the lower interest rate. Also, the sooner you buy the sooner you benefit from house prices rising.

Just my thoughts. I'm sure you've factored all of this in, and of course, everything I've said relies on the housing market continuing to rise.

I get your point but at the moment i don't have enough funds to safely go get a house and have backup savings, also my job is a bit iffy at the moment, big takeover happened so were expected to lose some people at one point. Hopefully not me though, plus i have no need to move out yet, if i had say 10k more ...id possibly look but at the moment no point as nothing appeals and there's no urgency yet. but could change

[deebee]

Originally Posted by Lewis Mc

Nope nothing like last year, I was getting out of a car to save more for a house, This time i never mentioned a house at all, am simply wanting to get a different car albeit with the same or less monthlies and paying now, but one i actually want and enjoy. There will always be 1k for a house being saved regardless of the car ,

I'm simply asking that If i were to get a M3 , would the price hold roughly for the next 4 years or so due to its V8 etc etc




There's a slight few problems there,

1- HTB ISA still takes 4 years to get my free 3k , so wont be sooner than that i'm 90% sure,
2 - I absolutely hate new builds (gleeson,barratt,bellway), there built of paper, badly done and not worth the money, my opinion ofcourse, I much prefer older well built houses
3 - I've looked into that barclays one and the springboard mortgage, but I'm not comfortable with them tbh, Id rather put my own money down and not hassle with that type of stuff, plus 75% mortgages seem to be the sweet spot for best rates

Fair enough mate

As for question, it should retain a lot of value compared to a normal 3 series but as it ages will probably wear out parts that are very expensive so might cost you money in that respect, its scary how much things you don't even think about are especially if you've been used to a new car with a warranty