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Matt

New car cost

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I was bimbling around on the BMW website earlier and as you do, started playing with the car configurator.  I like the new 5 series, so I specced up an M5 Competition.  Firstly, 103K starting price is crazy.  With a few options for my ageing backside to enjoy, the price gets up to 123K.

 

I just can't fathom it.  Its a 4 door saloon.  How can that price be justified and who is paying it?  The only thing its doing is making me wait longer for the price to drop to a level where I can afford it :(

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Edited by Matt

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If you take the finance option there’s is usually around £20k off with dealer and manufacturers contributions..

 

So around £83k for it in real terms.. The interest rate is quite low aswell currently 2.9%  on offer.. 

 

What’s crazy is a £5k deposit buys a new m5 with £1k per month!! 

 

 

Edited by kayser540

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I think there's been a shift in pricing nudging towards getting things on tick. Got to keep up appearances, wouldn't want people thinking you're poor - jeez, can you imagine?! :D That's not a dig though, if you want something and can afford to pay it up I don't see any harm in it.

 

That's a nice colour combo btw, get us some pics if you go for it!

 

 

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As above, who pays full price? Nobody at all.

I was talking to a sales guy at a BMW dealership when we got our new car Nov 2017 on a fantastic PCP deal.

He has a regular retired accountant customer who comes in and buys outright a brand new 5 series every 3 years.

The guy actually thought he was being conned by taking finance, getting a huge deposit contribution and low rate finance.

He ended up saving thousands by just doing PCP for 3 years and taking it back to get another.

 

If you can afford to do it, it absolutely 100% makes sense.

Most cars are a liability, when actual most people see them as an asset for some reason!

 

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10 hours ago, FLX said:

I think there's been a shift in pricing nudging towards getting things on tick. Got to keep up appearances, wouldn't want people thinking you're poor - jeez, can you imagine?! :D 

 

This seems to be the core of the issue.... dealers and manufacturers have realised that with all of the PCP, Lease hire, contract hire etc buyers really don't care about the purchase price....

 

As long as the deposit is affordable and the monthly payments are within reach they can leave the show room with a new car.... then after their committed time they hand it back and start again...

 

For many folk it really is about "look at me" and Harry Enfield nailed it with Stan in the 1990s...although today many folk think they are better than they really are...

 

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You need to factor in inflation when considering new car prices and comparing them to prices of old.  I have all the paperwork for my E39, including the original order.  With options and after dealer discount, my M5 was just shy of £59K when the order was placed for it in December 2000.  Adjusted for inflation, that's £101,500 and a bit in today's money.  When you then consider how much technology there is in the new M5 compared to the E39 it suddenly doesn't seem such bad value... especially when factoring in the cheap finance available today, making the new car available to people who couldn't have dreamed of being able to get into an M5 twenty years ago.

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22 hours ago, FLX said:

I think there's been a shift in pricing nudging towards getting things on tick. Got to keep up appearances, wouldn't want people thinking you're poor - jeez, can you imagine?! :D That's not a dig though, if you want something and can afford to pay it up I don't see any harm in it.

 

That's a nice colour combo btw, get us some pics if you go for it!

 

 

 

When its nearer the 20K mark, I might.  I don't have the wealth to be able to buy a new one.

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10 hours ago, JonJon said:

You need to factor in inflation when considering new car prices and comparing them to prices of old.  I have all the paperwork for my E39, including the original order.  With options and after dealer discount, my M5 was just shy of £59K when the order was placed for it in December 2000.  Adjusted for inflation, that's £101,500 and a bit in today's money.  When you then consider how much technology there is in the new M5 compared to the E39 it suddenly doesn't seem such bad value... especially when factoring in the cheap finance available today, making the new car available to people who couldn't have dreamed of being able to get into an M5 twenty years ago.

 

I guess so, but I remember the days when Aston's didn't cost that much.  To pay it now for a 5 series, I guess its a psychological barrier.  I couldn't do it.  Chris Harris said it best when he said the BMW badge doesn't work above 120K.  As much as I love my 5iver's, he has a point.

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On 03/02/2021 at 20:27, kayser540 said:

If you take the finance option there’s is usually around £20k off with dealer and manufacturers contributions..

 

So around £83k for it in real terms.. The interest rate is quite low aswell currently 2.9%  on offer.. 

 

What’s crazy is a £5k deposit buys a new m5 with £1k per month!! 

 

 

 

 So for 1K a month you can have a new M5, why would you do that? Why would you drive around in something that is loosing value and has a big steal me sticker on it? 

 

 1K is what I have spent on my daily in the last two year's, including purchase price

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3 hours ago, Tims said:

 

 So for 1K a month you can have a new M5, why would you do that? Why would you drive around in something that is loosing value and has a big steal me sticker on it? 

 

 1K is what I have spent on my daily in the last two year's, including purchase price

This.

 

I bought my F10 last year for 9K.  I intend to keep it a long time, I got it cheap because it needed a few bits doing to it.  I just can't fathom frittering away 1K a month on a new car that is losing value just sitting on the drive.  I get that some people can and do, just seems weird to me.

 

When it hits 20K, I'll be on it immediately and after one.

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It's simple, people do whatever they want to do with their money.

 

Watches, Hi-fi, Alexa, Voice controlled door bells, wifi garage doors, apps to plan your tooth brush regime?

I can't fathom out why people would want to drink or smoke or buy a massive house when they don't need one.

It's all irrelevant nonsense that people seem to think they need. Simply, just let them get one with it!

 

Why worry why they do it?! 

 

I have an ancient E39 which I've had for 10 years, it's had loads and loads spent on it and there's always something breaking.

 

I also have a new M140i F20 which is an epic car. Got it on PCP in Nov 2017 as we needed a second car and it was £18 a month

more expensive than a 118d. It's £353 a month. Hmmmmm let me think which to have?........

 

We all have choices, I cannot think why anyone would want to take time to try and work out why people do it!

 

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14 minutes ago, mike77 said:

It's simple, people do whatever they want to do with their money.

 

Watches, Hi-fi, Alexa, Voice controlled door bells, wifi garage doors, apps to plan your tooth brush regime?

I can't fathom out why people would want to drink or smoke or buy a massive house when they don't need one.

It's all irrelevant nonsense that people seem to think they need. Simply, just let them get one with it!

 

Why worry why they do it?! 

 

I have an ancient E39 which I've had for 10 years, it's had loads and loads spent on it and there's always something breaking.

 

I also have a new M140i F20 which is an epic car. Got it on PCP in Nov 2017 as we needed a second car and it was £18 a month

more expensive than a 118d. It's £353 a month. Hmmmmm let me think which to have?........

 

We all have choices, I cannot think why anyone would want to take time to try and work out why people do it!

 

 

Completely agree. At the end of the day if they want it and can afford it, why not . . . .  i would if i could, i know that for sure. 

 

 

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There is another option to consider if you have cash and don't want PCP. Go for a "Pre Reg" car

For me a new 520d MHT was over £47k on PCP with a £17k balloon payment. New car had 12 miles on the clock.

I bought a pre reg with 18 miles on the clock and saved over £17k and now own it out right with no balloon payment. That's about £2850 per mile!!

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15 minutes ago, Stressed said:

There is another option to consider if you have cash and don't want PCP. Go for a "Pre Reg" car

For me a new 520d MHT was over £47k on PCP with a £17k balloon payment. New car had 12 miles on the clock.

I bought a pre reg with 18 miles on the clock and saved over £17k and now own it out right with no balloon payment. That's about £2850 per mile!!

 

Absolutely, if you've got the cash go for it without a doubt. We only got our M140i on PCP as it was 0% finance no deposit.

BMW threw in £2000 deposit.

Can be bought outright in November for £16k, which looking at similar cars available, is cheap. it's done 17,000 miles. 67 plate.

Edited by mike77
.

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I want to buy a brand new 5 series one day before the government ban petrol engine only sales.  I'd want a V8 but accept a 6pot if that's all there is to be had without a horrible electric motor.  That means effectively a special order to get the kit/combo I want.  And I'd want to keep it for longer than the Jones do on the never never.

 

PCP will get me lower screen price yes but after 3 or 4 years etc I'd still need to stump up for the rest as there won't be anything worth buying after the government ban petrol engine only sales.

 

Realistically I still need to fund a significant wedge myself.

 

The mortgage is finished in a few months time, do I just put that aside for the next 9 years and spunk it all on a last proper hurrah from BMW.

 

Thoughts?

 

2 hours ago, mike77 said:

 

I also have a new M140i F20 which is an epic car. Got it on PCP in Nov 2017 as we needed a second car and it was £18 a month

more expensive than a 118d. It's £353 a month. Hmmmmm let me think which to have?........

 

 

This 

B0568470-C4-AC-44-A7-876-D-E92-F8-D45449

 

Snore

 

Or this?

 

C29-DA064-6-E7-A-489-F-A598-F4-DBCC06-B4

 

Its a no brainer.

 

Obviously just not from that dealer as they cannot be trusted with a push bike let alone a BMW......

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On 05/02/2021 at 11:59, mike77 said:

 

 

We all have choices, I cannot think why anyone would want to take time to try and work out why people do it!

 

 

 

 I was fuelling up in Morrison's, Leamington Spa yesterday and there was this snaking queue around the whole forecourt and around the back.  For what I hear you enquire? Coffee. People were sat in a  twenty to twenty five minute queue, with the engine's running to get a drive through coffee. 

 

 

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