That end of a PCP feeling

[TitanTim]

Amazing how quickly time flies and after 4 years the M140i has been paid off so nice to think the monthly payments are behind me.

Mileage covered is.......

where to upload images

MPG I'm working on it

Before I get lambasted as I did on another forum I always intended for the car to be little used and that I would buy at the end of the PCP and keep for when I retire in a few years. I was quite shocked at the vitriolic comments aimed at me when i mentioned what mileage or lack of I'd done, personal abuse etc, I don't get it why people have to be so nasty on forums at times.

I still think it's a reasonably unique car being a rear drive hatch with a 6cyl. The balloon was just over 13k so I think I got a bargain, some might argue what a waste but to me I enjoy owning the car, still as good as the day it rolled out the factory and never been out in the rain and it gives me pleasure looking after it, isn't that what it's all about?

Looking at Autotrader private sales these seem to be around the 19k so I could make a profit But I think I would regret selling it.



I've resisted any temptation to mod the car but just added a small lip boot spoiler the other week. I've been considering the M Performance exhaust as a maybe.

Tim.

[Nictrix]

I knew it was low but didnt think it was that low.
Please work out how much it has cost you per mile to own, it would be quite interesting.

[TitanTim]

I knew it was low but didnt think it was that low.
Please work out how much it has cost you per mile to own, it would be quite interesting.

The mileage is high, I was watching Chasing Classic Cars the other week where they came across a 1965 Volvo in storage with 4 miles on the clock, still had the factory covers on the seats and steering wheel. It had been bought by a Volvo dealer and put straight into storage and handed down the family but was never used.

Cost per mile, I dread to think not going there no idea probably over 30 quid a mile

Tim.

[SiJar]

Yes the balloon payment was very good and seems you got a bargain, however what was the total cost with all the payments as that is unlikely to make it a bargain? It is a lovely looking car and the main thing is if your happy then sod everyone else. I also enjoy looking after my relevantly low mileage Z4MC and only put on a couple of hundred miles a year. When I’m ready to sell it I know it will be one of the very best in the UK and it’s maintained regardless of cost. Like you I get a lot of pleasure and satisfaction looking after it, ready for its next lucky owner!

[mr wilks]

The balloon was just over 13k so I think I got a bargain,

Looking at Autotrader private sales these seem to be around the 19k so I could make a profit

Tim.

Not sure that's how it works Tim if you sold for £19k you could get £6k back to buy another car outright but to make £6k profit you would have to have paid £13k for the car & i guess 4yrs of PCP payments will total a touch more than that
Pure guess here on actual monthly figure but 48 months x £350 = £16800 + £13k balloon = £29800 so selling for £19k would be a loss of £10k for the pleasure of 700 miles but like you say its about the ownership enjoyment

[TitanTim]

The balloon was just over 13k so I think I got a bargain,

Looking at Autotrader private sales these seem to be around the 19k so I could make a profit

Tim.

Not sure that's how it works Tim if you sold for £19k you could get £6k back to buy another car outright but to make £6k profit you would have to have paid £13k for the car & i guess 4yrs of PCP payments will total a touch more than that
Pure guess here on actual monthly figure but 48 months x £350 = £16800 + £13k balloon = £29800 so selling for £19k would be a loss of £10k for the pleasure of 700 miles but like you say its about the ownership enjoyment

Yeah thinking about it that way, I've lost a shed load but then we don't buy cars to think about how much they devalue otherwise I guess we'd all be walking

Looking at it another way, at least I'm not Schmee, I was thinking how much he must lose on his cars compared to mileage and use but I guess all relative. There must be more expensive hobbies than cars

Tim.

[TitanTim]

Yes the balloon payment was very good and seems you got a bargain, however what was the total cost with all the payments as that is unlikely to make it a bargain? It is a lovely looking car and the main thing is if your happy then sod everyone else. I also enjoy looking after my relevantly low mileage Z4MC and only put on a couple of hundred miles a year. When I’m ready to sell it I know it will be one of the very best in the UK and it’s maintained regardless of cost. Like you I get a lot of pleasure and satisfaction looking after it, ready for its next lucky owner!

Tim.

[MrPT]

Wowsers. You’re totally right that it’s your money and you can do what you want with it (especially if it means a lot to you to have it parked on the driveway) but did you consider spending it on super car hire or track days?

You could get 1000, fully comp miles for two drivers in a GT3 or 570s for less outlay, for example.

[buzyg]

Lovely car Tim. If a car is a keeper then what does it matter how much you paid to own it.

I always assume any car I buy will be worth scrap when I sell it. Never going to be disappointed that way.

[mr wilks]

On the plus side from here on you have a car paid outright , no intention of selling so can enjoy 5-10 yrs relatively low cost motoring
If the system works for some then happy days , its those on the continual PCP cycle that will look back after 10yrs & wonder wtf they did it

[TitanTim]

Wowsers. You’re totally right that it’s your money and you can do what you want with it (especially if it means a lot to you to have it parked on the driveway) but did you consider spending it on super car hire or track days?

You could get 1000, fully comp miles for two drivers in a GT3 or 570s for less outlay, for example.

One way of looking at it but then when I think how much money I've spent on cars over the years I probably coud have bought a nice Porsche and just kept it rather than changing every few years with cheaper car

Tim.

[TitanTim]

Lovely car Tim. If a car is a keeper then what does it matter how much you paid to own it.

I always assume any car I buy will be worth scrap when I sell it. Never going to be disappointed that way.

Good take on it and how I'm looking at it, if I'm not planning on selling and just keep it running for however long it will last then value doesn't really matter

Tim.

[TitanTim]

On the plus side from here on you have a car paid outright , no intention of selling so can enjoy 5-10 yrs relatively low cost motoring
If the system works for some then happy days , its those on the continual PCP cycle that will look back after 10yrs & wonder wtf they did it

The PCP cycle is really something I wanted to get out of to be honest as over the next 3 to 4 years I'm wanting to clear any debts in case I decide to retire. The BMW dealer was quite pressing on me stepping from the 140i to the new 135i and another 4 year PCP but have no interest in the new model.

I have a PCP on my Hyundai Kona so will have to decide whether to buy at the end of the term or just hand it back.

I do have the inclination on retirement in stepping back into a Roadster of some sort again

Tim.

[IRD]

I have had a lot of cars over the 55 years I have been driving and dread to think how much money I’ve spent. Some of them were disasters, like the the little Frog Eyed Sprite I bought when I started work. It was so clapped out it would’nt pull the skin off the custard. When I took it to be tuned the mechanic put it on the rolling road and laughed. His advice, ‘sell it as soon as possible’. But I have loved owning them all. People who see cars as purely ‘transport’ don’t understand the pleasure to be had from owning and looking after your cars. Just standing and looking at my Z brings a smile to my face. So I understand exactly where you are coming from.

[john-e89]

I totally get it too Tim....drive it, don’t drive it, look at it, keep it showroom, it all works. It’s your cash so do what the chuff you want with it.