My Z4 is going! :(

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Sadly I'm not copying Carol and getting a Boxster (which is what I would love to do) but instead doing the sensible thing and sorting my finances out (boring I know!).

Realised that I simply can't afford it (overstretched my money, as usual!) and having had several months with poor expenses from work, I've seen that my standard monthly salary doesn't cover my outgoings!

Got a Picasso for work last September, and as such hardly use the Z4 any more - intention was to use it at weekends, but haven't really done so. And although it looks gorgeous on the drive, I'm not in a position to be paying for something I don't use (doesn't normally bother me, but things can't go on like this).

So, asked the stealer if they would buy it off me. No - they don't want more stock.

I don't want the hassle of selling privately.

So came up with a cunning plan to get me out of the monthly payments - trade both the Z4 and Debs 1'er in against a new 1'er for Deb. Finance will be paid off on both cars, and the equity from both cars brings an identical 1'er to her existing 3yr old one in at similar monthly payments. Need to put some extra down due to the extra toys we're adding, but thats manageable.

I'm gutted, and will be close to tears when it goes (possibly even in the next week!) but am between a rock and a hard place - keep the car and get further and further into trouble with my money, or do tha boring...sorry, sensible thing, and lose the car but help with the finances!

I hate BMW drivers who can AFFORD it!

Still love the car- I've had it 2 yrs (well, the replacement 18 months, but Z4 overall 2 yrs) and I normally only keep cars for 1yr before getting bored - so this shows I love the car. I only detailed it a few weeks ago and it is looking stunning at the moment (spotless!).

So think of me driving my shitty (in comparison to the Z4) Citroen Picasso looking in envy at any Z4 I see around...and my morning pain driving past one of my neighbours who's Z4 on his drive convinced me to get mine!
 
Is it not worth putting the car for sale on here? Even at the trade price so that you see it go to a nice home?
 
Sorry to hear that, but hopefully in a year or so things might turn around and you can get back to a Z. Nice things are a luxury and not worth financial hardship. These things happen, at least you realise that something has to give before it's too late.
 
Shame really but I remember you being quite bothered about mpg and that's an early warning that you might have gone down the wrong path as these sort of cars you just largely ignore Mpg tbh. Good luck with the new car tho, I'm sure you'll warm to it.
 
Don't want to go with a private sale - now I've made the decision to get rid, I just want it gone as easy as possible, and quickly (so I don't have to pay any more finance). I could probably get a better price (although he is giving me £500 more than the trade in price according to Parkers) privately, but am not interested in the hassle.

I will get another one at some point, or a Boxster, either way, it will be something to aim for - I'm a very materialistic person, so having nice things is what makes me happy...unfortunately it often means living beyond my means. Which is ok, until it catches up with me!
 
Maniac said:
Shame really but I remember you being quite bothered about mpg and that's an early warning that you might have gone down the wrong path as these sort of cars you just largely ignore Mpg tbh. Good luck with the new car tho, I'm sure you'll warm to it.
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Yeah - that was when it was my daily driver for work, so had to be a consideration. In reality, I was more concerned about it getting damaged in the Dr's car parks I have to use at work, which is what prompted the Citroen (decent condition, but old enough..10 yrs...to not care about).

By using the Z4 at weekends, meant I could ignore the price of fuel, but it just didn't work out. Hopefully when I get another one, it will be when I can afford to run it as a pure enjoyment car..and then perhaps a larger engine!
 
Sorry to hear that it's going. I think getting a second car can do that, you start to see the Z as an expensive driveway ornament.
 
Good of you to admit it mate......not a lot would. I've come out of a very very expensive divorce...and got a very bad settlement.....and I have a few quid left, my cars paid for, no debt, but no house......so we all have good and bad in our lives.....
 
Sorry to hear it kmw, but sensible is often better for the personal, mental welfare,
Hope you stick around though; feed that future target of re-ownership one day.
 
It,s bum news mate but no point spinning plates 8)
You obviously know your finances better than anyone else but your plan doesn,t work in my world :o

Starting off another finance plan on a 1 series whilst throwing all + a bit more into the deal seem,s self defeating of your objective ( which is to be better off ?
Is it not feasible to sell your Z then throw in whatever £ was needed to settle outstanding finance & be payment free ?
With mrs KMW still driving around in a 3 yr old BMW ? :?
 
Arh....but the finance on the 1'er and the extra downpayment is paid for by Deb, not me - and she is much better with her money! Her monthly payments will go up by £10, and then obviously the money for some toys, but thats her money, not mine. My payments will go down by over £300 a month!

And she has wanted a new one for about 6 months now. The only place I lose out, is I am effectively giving her the equity in my car as extra deposit on the new one, but the main point was to get rid of my monthly payments.
 
Sorry to hear that Kevin.

Did you take out BMW Select on the Z4? I thought once you had made 50% payments? you can simply walk away and terminate the agreement early? I can't remember precisely now.

I don't know what a replacement 1 Series would be on monthly payments but why not look at something completely different. I'm currently looking at the new generation Hyundai i10 to replace the Z3, have looked at a VW Up and Suzuki Swift but the Hyundai is getting knock out reviews and its nothing like the old model and great value new. I've specced up the top of the range Premium model, heated half leather seats, steering wheel, 1.2 five door in white and comes out under a 100 a month on a pcp. Will be much cheaper to run than the BMW, around 60mpg and 5 years warranty and roadside assistance, to be honest you can't knock it and why pay more for a badge.

http://www.hyundai.co.uk/new-cars/i10

Anyways good luck, hope it all works out.

Tim.
 
300 pounds per month for just driving a car, hmm... Is financing a car a very common thing in the UK?
I will only finance a house, the rest should be paid for.
IMHO very wise decision! :thumbsup:
 
TitanTim said:
I thought once you had made 50% payments? you can simply walk away and terminate the agreement early? I can't remember precisely now.
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On a PCP the 50% of the total includes the balloon as well so much harder to walk away from than a traditional HP agreement.
 
seg said:
300 pounds per month for just driving a car, hmm... Is financing a car a very common thing in the UK?
I will only finance a house, the rest should be paid for.
IMHO very wise decision! :thumbsup:
Click to expand...

Financing is common because having £30,000 to buy a car cash is not common.
 
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