Am I out of touch? PCP costs...

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Good evening ! (this is a first world problem kind of post, sorry)


Sat here contemplating that I may be way out of touch when it comes to new cars?

I've daily'd all sorts, most recently had a Tesla model 3 for the past 4 years on lease. I've actually got a model Y long range on order, 0% apr, 2k deposit contribution which actually is a lot of car for the money, whether one likes the car or not!

The model Y has been delayed, and it's now had me looking at less sensible options that I'd enjoy more.

Without going off topic, M3 Touring - can't justify the prices for a daily / long trip car, but wanted one since I saw them before release!



So slightly more sensible (so I thought);

X3 M50i. I thought the finance package would be really appealing compared to an M3, how wrong was I.

£67,000 In stock and discounted
£2K deposit, £910 per month!! 4.9% APR.

Nearly 46K of depreciation and costs over 4 years for a 67K car, when 4 year old versions of the car are still on forecourts as old models up for £35-40k?!

Is this what you'd expect with discounts etc?

The dealer asked me what price I was aiming for monthly, and my figure was just shy of what a PCP calculator would suggest if GFV was just less than 50% of value). His reply was rude. Is this close to the figures people have been paying for Z4 M40i if not buying outright?

Needless to say, the Tesla is still on order for now.
 
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Someone else will know for sure, but I’d guess the Tesla might be the anomaly here. Loads of inventory to shift plus desperately trying to cling onto market share at the moment.
 
I thought that with the inventory, but certainly for Long Range AWD they've hardly anything, and they have delayed mine from expected delivery now, until a window of late jan - mid Feb which has frustrated me. But yes agreed, annoyingly good value!
 
Problem is the Teslas are such good value makes everything look expensive. Why we bought a model Y because there wasn't another car in a similar class that offered a nearly 70k car at 0% with such a reasonable monthly payment. Everything else this time last year was 7+% and double the monthly cost.
 
tomscott said:
Problem is the Teslas are such good value makes everything look expensive. Why we bought a model Y because there wasn't another car in a similar class that offered a nearly 70k car at 0% with such a reasonable monthly payment. Everything else this time last year was 7+% and double the monthly cost.
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Yes agreed, the model Y is a great car. If I wait for the order , I think I’ll find myself in the Z more than i did when I had the model 3 though. The Y is very quiet and sensible (if possible with a 4.6s to 60 😂 )

My mind is still blown that an x3 M Lite is 910 pcm with a small deposit, or 675 pcm with a 13k deposit or so. For an x3?! An M3 Touring comes in not far off that.
 
I’ve been looking at Renault 5s, which seem decent value until you notice you can get a family rocket sled from Tesla for less than £100 extra per month.
 
Out of touch? For a while I've vaguely wondered what people cough up to have shiny new metal on the drive and, being lazy, have never been arsed to look. Last Sunday Harry Metcalfe (Harry's Garage on YouTube) mentioned that to have a new Range Rover would have been £1400 a month on a 4 year thing...

That's sixty-seven thousand pounds (say it slowly) over 4 years just to pay depreciation and have nothing left to show for it at the end...

That's £17k a year...

I think I've spent about £30k on buying cars in 30 years of driving.

So what, I want to know, am I doing wrong?
 
You and me both.

Last daily car I bought was £5k, 5 years ago. Its probably depreciated £500 a year.

And other than regular maintenance commensurate with the 50,000 miles I've done in that time, its failed to reach its destination... once.

Even my fun cars are bought outright, a z4 (lost £600 in 2 years) a 986 boxster (lost £1000 in 2 years) and a 987 boxster.

Madness how much people will pay to have new metal on the driveway. Next door has a 25 plate bmw suv... thing... which i now guess they're paying £6-700 a month for.
 
Two problems with a Tesla:
One is that they are owned by a complete nutter.
But the fundamental problem is............have you actually seen how feck ugly they are? Seriously. They must have been designed by teletubbies. I thought Ssangyong made ugly cars, but Musk has gone full on "don't give a shite what they look like".
 
The model Y has hugely increased in cost compared to a year ago. My son has the performance on £500 a month, it is on our company so VAT is reclaimed. If you take the same deal, it is almost double that now.

I have no interest in buying any new cars now, my X5M has 15k miles on it and I will keep that. Same with my 911, has 18k miles and that will also be kept forever. The Z4M the same, not going anywhere and the Golf neither. The ID was bought on the company and cost me personally £500 a year.

The price of new cars is just mad, I glanced at a M3 Touring but the cost is way beyond of interest.
 
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pvr said:
The model Y has hugely increased in cost compared to a year ago. My son has the performance on £500 a month, it is on our company so VAT is reclaimed. If you take the same deal, it is almost double that now.

I have no interest in buying any new cars now, my X5M has 15k miles on it and I will keep that. Same with my 911, has 18k miles and that will also be kept forever. The Z4M the same, not going anywhere and the Golf neither. The ID was bought on the company and cost me personally £500 a year.

The price of new cars is just mad, I glanced at a M3 Touring but the cost is way beyond of interest.
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I was quite interested to see what your view on this was actually, when I was posing it! Agreed, you have such a great mix of cars and nothing new comes close vs costs.

On the model Y front … the models up to performance are all really competitive. The performance doesn’t attract 0% apr , it’s more like 7 or something for some reason , costs 10k more than the LR AWD , yet GFV is around rh same. Wonder if they’re not positioned to be making them in numbers yet.

If anyone is interested, my model Y order is,

Long range , All wheel drive
0 deposit
560 pcm
24k GFV at 4 years. (It won’t be worth that!)

When you factor in running costs being low, absolutely NO servicing in 4 years, 1 MOT, and being very kind on tyres , it’s good value at least for how much car you get.

Definitely messes up other options !
 
smorris_12 said:
Out of touch? For a while I've vaguely wondered what people cough up to have shiny new metal on the drive and, being lazy, have never been arsed to look. Last Sunday Harry Metcalfe (Harry's Garage on YouTube) mentioned that to have a new Range Rover would have been £1400 a month on a 4 year thing...

That's sixty-seven thousand pounds (say it slowly) over 4 years just to pay depreciation and have nothing left to show for it at the end...

That's £17k a year...

I think I've spent about £30k on buying cars in 30 years of driving.

So what, I want to know, am I doing wrong?
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It’s a mugs game, but if people must keep up with the Jones’s.

I just sold my 2017 M240i purchased Nov 19 sold Nov 25. 6 yrs and only lost £4k over that time. Excluding running costs.

Depreciation on new cars, particularly EVs is catastrophic, or many people get into the never ending PCP cycle.
 
A few months ago we bought a Taycan 4S that had covered just over 7k km (4.5k miles). The original owner lost 100k AUD (£50k) in their short ownership at £11 per mile driven.*

My wife bought her last car new but kept it for 14 years, and lost about 25 pence per mile in depreciation.

I’m very happy for other people to cover the cost of depreciation so I can have a selection of cars that interest me. That has much greater appeal than driving brand new, anonymous white goods that are replaced every three years.

*I should add that they kept it at one of their holiday houses as occasional transport and traded it for a new Bentley for the same purpose, so the depreciation hit was probably quite irrelevant in their world.
 
Also the performance imo is just too much, too fast. Who needs more than 4.6 to 60. Especially in a family daily. They gave us a performance to test drive and I thought it was too fast.

My model Y is a long range. I leased it as unfortunately I've only had my company for a year so they wouldn't allow me to put it through the business. It sits in chill mode because even in standard mode I think it's too fast no wonder the insurance premium is so high on them!

It has the biggest boot in its class and for the average owner it will be by far the faster thing they have ever owned.

If I'd bought mine standard it would have been £299 a month 5k down and 0%. I got a 7 seat to put my 2 dogs in away from the 2 kids, got grey and self driving (which is a mistake complete waste of money) and it's £460pm which is so reasonable.

A compatible disco with fuel tax servicing lease, interest and insurance at the time was looking at £1500 a month. Just not interested what so ever.
 
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