I've sold the S2.
- Thread starter Lowtimer
- Start date
Just a thought Edd, but you say you really want a 996 GT3 but can't afford one, yet are buying a new M135. I'm sure you have done your maths but this doesn't make sense to me. Surely the depreciation (however it is charged - monthly payment or whatever) on the BMW will make it MUCH more expensive than the GT3, which will be fairly light on depreciation by now? Are you sure you can't go back and do some man-maths and find that the GT3 isn't more affordable after all? [
] Oli.
] Oli.
Copperman05
New member
Trust me I've already looked at this. [8D] To own the M135 I dont actually have to fork out 30K, with the lease I pay for a portion of the value of the car over a 3 or 4 year period and then hand it back or pay the balance and keep it. (or sell/part exchange) Yes potentially I could be paying over 30K to keep the car. With the GT3, good ones start at about 35K, here I need to fork out the moula up front or where a lease is available its for the whole amount usually and not a portion of it, plus interest rates are usually much higher with used cars lease schemes than new ones. So the 35k GT3 costs considerably more to lease than a new 30k BMW M135, if I had 35k burning a hole in my pocket, the GT3 would get some careful consideration, but even then it would cost significantly more to run, insure and fix when things go wrong. However, in the long term its where I'm aiming for... Edd
Greg James
New member
Mortgage?? Really cheep just pay it off when you sell the car
Edd, I'm sure you've done the maffs carefully but have you considered the end point of the whole equation? If you go for the M135i, you will either hand it back three years later (leaving you with nothing) or you will pay another chunk of money and end up owning a three-year-old car, worth around half the new price (so around £15k.) Three years after buying the GT3 you will have ... a GT3 which is three years older []. Given that the depreciation on them is pretty flat at the moment that means it will be worth at least £25k, making you £10k up on the M135i situation. Wouldn't it be better to borrow the money for the GT3 as cheaply as you can? As Greg says take it from your mortgage, or a dedicated loan, or whatever. And if you are close to being able to afford a GT3 now (which it sounds like you are) then you could hold onto that splendid S2 for another year or so and then make the jump when you have a bit more cash? Going via the M135i could mean you get the GT3 later than if you hold onto the S2 for a year or so and then buy the GT3. Forgive me for trying to tell you how to run your own finances, but buying new cars has always struck me as being a mug's game as you take a HUGE depreciation hit. Oli.
]. Given that the depreciation on them is pretty flat at the moment that means it will be worth at least £25k, making you £10k up on the M135i situation. Wouldn't it be better to borrow the money for the GT3 as cheaply as you can? As Greg says take it from your mortgage, or a dedicated loan, or whatever. And if you are close to being able to afford a GT3 now (which it sounds like you are) then you could hold onto that splendid S2 for another year or so and then make the jump when you have a bit more cash? Going via the M135i could mean you get the GT3 later than if you hold onto the S2 for a year or so and then buy the GT3. Forgive me for trying to tell you how to run your own finances, but buying new cars has always struck me as being a mug's game as you take a HUGE depreciation hit. Oli.Greg James
New member
I've lost loads of cash playing that game! Have made a load on an 911 over the past four years
ChasR
New member
True, although even I have wondered about the lease scheme on some cars these days. Yes it can work out cheaper to run a newish sports car, but it can quite easily go the other way as well, along with the hassle (that includes not only the awkward stuff, but either almost constantly maintaining your car or sending it down to the indie (these older cars do require to be serviced at least twice as often as a modern remember ). Dependant on the mileage covered leasing in a few cases seems to work out cheaper than going new (can one say they really 'own a car' on finance?). I know if I got the indie to do even the little jobs I have done to the 951 I could soon add the costs up. Maybe I am sounding a little nuts now with the above but the last daily really did push my threshold on what I deemed as 'acceptable' maintenance on a car, and pretty much put me in the mood for having a car I can simply 'drive' with nothing to think about. Having so many issues (and eventually scrapping it) did not help matters in the slightest (an '06 Passat; allegedly reliable...). Maybe I have been lucky with cars until now, but I doubt that with the number of cars I have owned. It is a shame you are leaving Porsche ownership Edd, and maybe you may keep it . (I really did admire your Porker and what you were doing to it). After going in an M135 (a tyre fitter's wife has one) they are a great bit of machinery. For a modern 'family' car they don't sound too bad either!.
). Dependant on the mileage covered leasing in a few cases seems to work out cheaper than going new (can one say they really 'own a car' on finance?). I know if I got the indie to do even the little jobs I have done to the 951 I could soon add the costs up. Maybe I am sounding a little nuts now with the above but the last daily really did push my threshold on what I deemed as 'acceptable' maintenance on a car, and pretty much put me in the mood for having a car I can simply 'drive' with nothing to think about. Having so many issues (and eventually scrapping it) did not help matters in the slightest (an '06 Passat; allegedly reliable...). Maybe I have been lucky with cars until now, but I doubt that with the number of cars I have owned. It is a shame you are leaving Porsche ownership Edd, and maybe you may keep it . (I really did admire your Porker and what you were doing to it). After going in an M135 (a tyre fitter's wife has one) they are a great bit of machinery. For a modern 'family' car they don't sound too bad either!.
Copperman05
New member
There is certainly a premium to be paid when owing a new car, some are willing to pay it, some are not. If you want the latest 991 or 981 offerings from Porsche there is no other option initially but to buy new. I used to think the same as you Oli in regards to new cars, but has to be said there's some value in ordering a car to your own spec, having it delivered brand new factory fresh from the showroom. I would love to have owned an S2 from new, even if I lost some money doing so. Not all cars can be considered investments, and if we are going down that route then they often become less useful as driving tools as mileage and condition becomes everything. I prefer to enjoy my cars, even at the cost of losing money on them. The GT3 is a fantastic car, big step up from a 944 though. Its still not affordable for me yet. Yes the M135i is going to cost me over a 3 year period, but its going to be some fun 3 years.... Edd
Fair enough. You have clearly given it some serious thought and I'm sure you've done the maths correctly. It brings into mind the 'mentality' of car ownership though. Some people are always happy to have a car on their drive that is less than three years old, and will change their existing model when it gets to 36 months old. (Probably 'cos "old cars are unreliable".) And it will cost them a fortune, but it's their money and hence for them to decide how to spend it. Any new car will depreciate more, but if you are happy with it and happy to pay the cost then why not? You clearly are, and you get the joy of choosing exactly what you want and all the pleasure of it being new (new car smell, dealers falling over themselves to keep you happy etc etc etc.) I know my approach is odd from many points of view, but I like older cars and I don't like spending much on keeping them running. However I maintain that it is possible to run an old and high-quality car (such as a Porsche) for not much money - which I am managing with the S2. Would I have wanted one brand new? No, as I would know it would be costing me a fortune. Ironically, the most expensive and newest car I have ever owned was the most unreliable and most expensive, both in total cost and in terms of £/mile. (And that was by some long margin, too). And it was the one I liked the least ... [] (Before anyone asks, it was a Mk3 Golf GTi, bought ex-demo about 14 years ago. I wanted a Mk2 GTi but my then-fiancée much preferred the Mk3, so I bought one. Thankfully, Mrs zcacogp has stuck around a lot longer than that car!) Oli.
] (Before anyone asks, it was a Mk3 Golf GTi, bought ex-demo about 14 years ago. I wanted a Mk2 GTi but my then-fiancée much preferred the Mk3, so I bought one. Thankfully, Mrs zcacogp has stuck around a lot longer than that car!) Oli.
Copperman05
New member
I ordered the M135i last week, managed to get 20% off book price which I'm pretty pleased with. Considering whether to sell the S2 now, or wait till I've got the new one, would be nice to have both but cant justify or afford it. Edd
Copperman05
New member
Its going to be harder than I thought! Edd
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