M3 Ownership costs

[TW]Fox · 14 Apr 2013 at 11:50

With annual mileage like that you could hold out for one that's just had an Inspection 2 and new brakes all round. Then over the next 3 years it'll need just tyres, brake fluid and a single oil service at £190 in terms of scheduled maintenance.

monkeys · 14 Apr 2013 at 11:56

If you really want it go for it.
Your mileage=low wear.

placeholder · 14 Apr 2013 at 12:07

sigma said:
You drive less than half a mile to work? Would be a waste of an M3 imo

I dont tend to drive to work. I drive for pleasure. In the course of my work i may have to drive as i visit sites but that is mileage i can claim back. I only mentioned it because mileage is not an issue at all. Sometimes i take the car, sometimes i walk, its not a relevant consideration.

I would maybe put 2000 miles a year on a car just cos i want to. In reality i dont really NEED to own a car at all!

placeholder · 14 Apr 2013 at 12:08

[TW]Fox;24115918 said:
With annual mileage like that you could hold out for one that's just had an Inspection 2 and new brakes all round. Then over the next 3 years it'll need just tyres, brake fluid and a single oil service at £190 in terms of scheduled maintenance.

So if i did that and had maybe £2k in the bank as a "just in case" fund, it wouldnt be the worst idea in the world?

monkeys · 14 Apr 2013 at 12:41

As with any car, you always need a fund, may it be 1k 2k 5k or 10k depending on a car. On a fiesta 500 may may be enough but 2k isnt enough on a Ferrari.
Make sure you get a clean one rather than save a few quid. When you change brake pads, get a better ones than the standard as they arent v good.
Now, happy hunting. :-)

placeholder · 14 Apr 2013 at 12:49

monkeys said:
As with any car, you always need a fund, may it be 1k 2k 5k or 10k depending on a car. On a fiesta 500 may may be enough but 2k isnt enough on a Ferrari.
Make sure you get a clean one rather than save a few quid. When you change brake pads, get a better ones than the standard as they arent v good.
Now, happy hunting.

My issue isnt really what the fund should be, its whether any fund i have would be enough.

Its essentially a £50k car with the associated costs. I dont have the income to buy the £50k car so im questioning whether i have the income for the running costs. The fact that the £50k car can now be had for £12k is irrelevant in this respect.

However the 350z was a £30k car new and I've managed that quite happily, which is what is putting the devil on my shoulder!

sigma · 14 Apr 2013 at 12:53

What's one of the common big failures on these? Gear box?

Clarkey · 14 Apr 2013 at 13:01

placeholder said:
It would never see a track day, i live in a small town and i live less than half a mile from my work. I only drive either for work (when i get the money back) or because i actually WANT to, which i often do cos i love driving.

Last year i did about 2k miles in the 350z.

Thats probably the reason why its both do-able and a waste at the same time!

If you love driving then why not get it on the track?

monkeys · 14 Apr 2013 at 13:01

There is nothing drastically wrong with it.
However I don't know your financial situation...but you should be able to afford the services and a few k if you are that concerned. It is basically a sound car, yes it is a 50k car, not doing many miles should protect it against wear.
Emphasis is to get a good one and have it checked, even if you have to pay more.
IMO for 14-15k you can get a decent enough one for your purpose.
Don't worry and start looking.

Madeddie · 14 Apr 2013 at 13:10

Have you considered any other cars Placeholder?, The E46 although a stunning car is starting to become quiet old lets say you bought a 2005 a few years down the line your going to have a 10 year old car sat on your driveway - for around the 15k budget you could get a reasonably low millage 2009 370Z or even a 2010 Infiniti G37, although they don't carry the M badge both are not a million miles away from performance and newer.

Matt82 · 14 Apr 2013 at 13:24

It all depends on what condition you want to keep it and use it in.

Its a performance car, if you want to keep it in the peak of its performance then Id expect it would need certain ecu sensors and a host of suspension components replacing. at this age there will be considerable wear and tear on the car and it wont drive as BMW intended.

Thats going to cost a lot of money, a lot more than it would take to just keep an M3 serviced and sat on your driveway as an ornament.

placeholder · 14 Apr 2013 at 13:28

Matt82 said:
It all depends on what condition you want to keep it and use it in.

Its a performance car, if you want to keep it in the peak of its performance then Id expect it would need certain ecu sensors and a host of suspension components replacing. at this age there will be considerable wear and tear on the car and it wont drive as BMW intended.

Thats going to cost a lot of money, a lot more than it would take to just keep an M3 serviced and sat on your driveway as an ornament.

If i cant afford to do it properly i wont be doing it at all. Hence the thread.

Matt82 · 14 Apr 2013 at 13:39

So are you content with an M3 with 8 years of wear or something that drives like an M3? Thats whats going to make the difference.

[TW]Fox · 14 Apr 2013 at 13:44

Madeddie said:
Have you considered any other cars Placeholder?, The E46 although a stunning car is starting to become quiet old lets say you bought a 2005 a few years down the line your going to have a 10 year old car sat on your driveway - for around the 15k budget you could get a reasonably low millage 2009 370Z or even a 2010 Infiniti G37, although they don't carry the M badge both are not a million miles away from performance and newer.

Having covered 1000 miles in a 2011 G37 @ find the very idea of it as an M3 alternative hilarious. It pales in comparison to even a 335i or 330i let alone an M3.

sigma · 14 Apr 2013 at 14:06

Matt82 said:
So are you content with an M3 with 8 years of wear or something that drives like an M3? Thats whats going to make the difference.

Might as well get one that's got wear and tear tbh, he's hardly going to drive it and it's not going to get much abuse by the sounds of things so a few worn bushes isn't exactly something to worry too much about.

Matt82 · 14 Apr 2013 at 14:12

In which case, just get a 330 and you dont have to worry about MTax on consumables and servicing and have the money available to spend on a past time you actually do on a regular basis

placeholder · 14 Apr 2013 at 14:34

Matt82 said:
So are you content with an M3 with 8 years of wear or something that drives like an M3? Thats whats going to make the difference.

Ive tried to make my position reasonable clear. I have no desire to change cars but i have always loved M3s. I have always assumed they were simply a pipe dream. I own a 350z and i enjoy it. Im simply wondering if an M3 is out of the question, thats all .

I have no desire to own an imitation M3, im just checking if even thinking about one is unrealistic. I dont want to buy a car i cant afford to run.

pugheaven · 14 Apr 2013 at 16:38

The question is, what's your maximum yearly running cost you can afford. Then I suspect people might be able to give you what it costs them to run one? Suppose, depends on how much your initial cost of the car will be which "could" dictate how much work you need...

placeholder · 21 Apr 2013 at 09:18

pugheaven said:
The question is, what's your maximum yearly running cost you can afford. Then I suspect people might be able to give you what it costs them to run one? Suppose, depends on how much your initial cost of the car will be which "could" dictate how much work you need...

Sorry, its only really on a Sunday that i have time to post much here.

My entire point is that its not really about what i can afford if that makes sense. If something goes wrong then of course i will pay for it to be fixed. I already pay a shed-load in petrol and tax on the 350z as it is so that is not an issue.

One £1000 bill wont bankrupt me but it will irk me. Multiple £1000 bills will annoy me because its not where i really want my money to go. I accept that in theory bills like that are simply the cost of ownership for a car like an M3 which is why i dont already own one

D). Cars are not my hobby but i do really like them so im a bit stuck in the middle. I have a mate who sinks all his spare cash into his car because thats just what he loves and i guess a lot of people on here are like that. If i was i would have an M3 in a heartbeat, but im not. I love cars - hence the 350z, but its not my passion. My spare cash isnt set aside for car ownership, so big bills will always be viewed in terms of what else i could have done with the money. Thats why i dont think M3 ownership is the most sensible option for me although others in this thread have given me food for thought!

wingman · 21 Apr 2013 at 10:28

Based on your last response I can't see that buying an M3 would be a good decision for you.