Anyone tempted by the PCP offer on an M3?

[Stuart Truman]

I'm not test driving one and I'm not buying one. Yet...

 

[Wondermike]

I love the E92 M3, but...

When you factor in the deposit averaged over the 36 months it's more like £680 per month, it's still a great deal but it's a lot of cheddar to have nothing at the end of it.

And from one of your recent posts, there isn't a huge amount to gain in terms of performance.

 

[original guvnor]

I love the E92 M3, but...

When you factor in the deposit averaged over the 36 months it's more like £680 per month, it's still a great deal but it's a lot of cheddar to have nothing at the end of it.

And from one of your recent posts, there isn't a huge amount to gain in terms of performance.

Keep talking Mike, you're doing a good job of getting me to do what I know I should!

 

[Breaker]

Good deal. M3's and the like could drop like a stone residual wise these days though!

 

[srhutch]

I love the E92 M3, but...

When you factor in the deposit averaged over the 36 months it's more like £680 per month, it's still a great deal but it's a lot of cheddar to have nothing at the end of it.

And from one of your recent posts, there isn't a huge amount to gain in terms of performance.

Keep talking Mike, you're doing a good job of getting me to do what I know I should!

£24.5k in three years and nothing to show at the end. Makes much more sense to keep the ///M with the classic NA straight six.

 

[Taz]

I love the E92 M3, but...

When you factor in the deposit averaged over the 36 months it's more like £680 per month, it's still a great deal but it's a lot of cheddar to have nothing at the end of it.

And from one of your recent posts, there isn't a huge amount to gain in terms of performance.

Keep talking Mike, you're doing a good job of getting me to do what I know I should!

£24.5k in three years and nothing to show at the end. Makes much more sense to keep the ///M with the classic NA straight six.

or buy 1 in 3 years time, sure you'll pick up a good 1 owner low mileage vehicle for 20k

 

[inkey$]

£24.5k in three years and nothing to show at the end. Makes much more sense to keep the ///M with the classic NA straight six.

I think this pretty much sums it up perfectly. Okay, so the experience of owning a brand new V8 M3 for three years would be great, but at the end of that time - not owning squat. I've never bought a new car on a PCP/etc precisely because I could never get my head around this. Emotionally I need to own the car i drive outright so have always gone second hand and got the best i could get at that time. If I couldn't afford it then I've saved or cashed in some chips to make up the difference (see my MC bought from forum member in 2011).

I was too flippant before with my 'do it' OG. Forgive me. It's a terrible idea. My new advice is wait 3 years and buy one outright for £26k

 

[Taz]

i bought my car on a PCP, after i had paid off the mortgage 1 thought i would continue the payments but against a car

if i work out how much the car will cost me by the time i buy it, it makes me feel ill lol, i would never do it again

 

[tomscott]

My dad got one, demo registered september 2007 with 4k on it in march 2008 on a 57 plate, had every box ticked and he bought it for around £58k. 2 1/2 years later was offered 25.5k for it at Lloyd BMW Carlisle against a new M3. It had 20k miles on it, spanking condition too not a single mark.

Managed to get 27.5k for it when he sold it against a 911 Cs.

Depreciation is insane.

But it was an awesome car. Bargain from someone. Found it for sale not long ago and made a post about it and the guy had made a right mess of moding it

 

[Mowflow]

Doubt you would see any equity in the car at the end of that deal. Prices on 3 year old M3s are already pretty weak but factor in the fact it will be the old model and no doubt slower, less economical and less attractive in nearly every way over the new model which will be getting offered on deals like the F10 M5 currently is and you are onto a dead cert loser.

However, I bet you could get another 7-10% off from any dealer.

 

[Breaker]

i bought my car on a PCP, after i had paid off the mortgage 1 thought i would continue the payments but against a car

if i work out how much the car will cost me by the time i buy it, it makes me feel ill lol, i would never do it again

I did PCP once! Never again!!

 

[micz4]

I spent most of my car sales career talking people out of PCP's

 

[markeg]

Did PCP once, got to the end and bought the car outright (worth more than the residual payment). 2 weeks later, wrote it off. :roll:

 

[original guvnor]

Well I've never done PCP and in the cold light of day I won't be this time either.

I'm sticking to the original plan, which is to save hard for a 997GT3. Probably Gen 1 but Gen 2 with the front lifting suspension if at all possible. A future classic for sure because the 991 version will be PDK, electric power steering and if the rumours are true, won't use the Metzger engine.

 

[tomscott]

Got mine on PCP too wish I hadn't but you learn from your mistakes

 

[Mowflow]

I'm currently on a PCP deal for the first time. Due to the low interest rate the total interest over the period is slightly less than £2k. I managed to get £3.5k off the list price of the car from the dealer so I'm still paying less than list.

 

[metal licker]

I'm the same as Mowflow on a pcp but paying less than list price interest included

 

[AlanJ]

this could ruin my retirement plan

x2 .....19 months to go Certainly tempted on a new Zed but they only do it for the 2.0L option

 

[Bing]

Did PCP once, got to the end and bought the car outright (worth more than the residual payment). 2 weeks later, wrote it off. :roll:

Is no-one else thinking what I am ? :?

 

[metal licker]

Did PCP once, got to the end and bought the car outright (worth more than the residual payment). 2 weeks later, wrote it off. :roll:

Is no-one else thinking what I am ? :?

Not till you posted that Bing