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Cheapest "monthly" way to get into a newish 5 Series / A6 / E class?

Discussion in 'Motors' started by mccarf, Feb 8, 2019.

  1. mccarf

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,309

    A friend of mine really wants to get one of these three cars, preferably a 5 series. He wants it to be newish, automatic and diesel since he does alot of miles (about 35k a year). He's talking about leasing at the moment, but I was just wondering if this was the best method? He would have no (or a very small) deposit to put down, which probably makes a huge difference. I was looking online and saw some prices for around £500-600 a month, but the mileage on the site I looked at only went up to 20k. How much (roughly) should he be looking to pay per month?

    I've never had any real experience with PCP/HP/leasing so I'm just looking to help him make the best decision.
     
  2. Spunkey

    Capodecina

    Joined: Oct 18, 2002

    Posts: 13,805

    Location: The land of milk & beans

    'Leasing' and '35kpa' are not a good match. In fact any finance deal is going to penalise that kind of mileage, especially with no deposit to put down.
     
  3. [TW]Fox

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 154,562

    If you want to put 100,000 miles on a car over 3 years and you have no deposit it seems unlikely the answer is going to be either of those cars! This is going to be seriously expensive as he will be wiping a large portion of the cars value off it.
     
  4. shadow_boxer

    Sgarrista

    Joined: Oct 9, 2009

    Posts: 8,439

    Location: Stoke-On-Trent

    This sounds like a recipe for disaster.
     
  5. rodenal

    Capodecina

    Joined: Dec 7, 2011

    Posts: 10,084

    The "cheapest" way to remain covered for reliability issues with one of the desired cars will be to purchase a car a few years old for say £17k and take a loan out over 3 years plus pay the monthly warranty rate...

    It'll still end up costing £5/600 per month, but at least any value of the car can be recovered at the end of his use. Buy something with 20-30k miles and move it on with say £120k. It won't be completely worthless

    Can't help but agree that this has disaster written all over it though. If he must have a new or very new car one of the Korean offers would be vastly more sensible (the newer Optima is a nice car), or even a boring old Passat/Mondeo
     
    Last edited: Feb 8, 2019
  6. Dis86

    Capodecina

    Joined: Dec 23, 2011

    Posts: 20,349

    Location: Northern England

    Sounds like the friend of yours needs more money or a cheaper car choice.
     
  7. Rilot

    Don

    Joined: Oct 18, 2002

    Posts: 19,464

    Location: Wargrave, UK

    I'm guessing that those 35k miles are mostly business miles. Does he get a car allowance?
     
  8. 233

    Capodecina

    Joined: Nov 21, 2004

    Posts: 12,537

    Location: Glasgow



    this

    or if your friend is a dishonest SOB 20k P.A. lease and a haircut every year
     
  9. tamzzy

    Sgarrista

    Joined: May 26, 2012

    Posts: 9,916

    QFT
     
  10. shadow_boxer

    Sgarrista

    Joined: Oct 9, 2009

    Posts: 8,439

    Location: Stoke-On-Trent

    The problem is that going down route of a lease with premium marque without a deposit and mega miles is the easiest way of throwing money away. Though we have no idea about his finances it sounds like he's trying to get into something he can't really afford. Easily done when looking leases/pcp and the monthlies etc. Someone's gonna have to cover the depreciation of adding all those miles over a short time frame and it ain't the manufacturer. Is a car allowance or company car a possibility? Could he still afford it if personal circumstances were to change?
     
  11. mccarf

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,309

    Thanks for all the advice:). I will share this thread with him and see what he thinks.
     
  12. Housey

    Man of Honour

    Joined: Feb 21, 2006

    Posts: 26,555

    My car is 10k per annum and around 314 a month. If I took that to 30k per annum it would add circa 100 a month. I put 3k down. E220 AMG
     
  13. mccarf

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,309

    I suppose the big thing is the 3k deposit there. He would probably have less than a grand deposit to put down at the start.

    I've talked to him and I think he might go down a cheaper road than brand new premium cars. It's his choice at the end of the day, but I think stuff like a kia optima or skoda superb would still be an upgrade over his seat exeo while being much more affordable.
     
  14. Housey

    Man of Honour

    Joined: Feb 21, 2006

    Posts: 26,555

    I suggest he sets his sights lower then. This is just my run about car. If you have to stretch to get a deposit or monthly payments then it’s a foolish move.
     
  15. Journey

    Soldato

    Joined: Oct 18, 2002

    Posts: 5,963

    Location: West Midlands

    The best decision would be to question the affordability of one of these premium vehicles to him, if he is a decent friend anyhow. :)
     
  16. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,286

    Location: Bucks and Edinburgh

    Absolutely, £3k is nothing when considering a car like this.
     
  17. mccarf

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,309

    Yeah, I'm trying to sway him into the nicer cars from "lesser" brands now so hopefully he'll find something he likes for a monthly budget that suits him.
     
  18. Gaygle

    Capodecina

    Joined: Nov 7, 2004

    Posts: 14,859

    Location: East of England

    Skoda Superb's are nice. Don't know how much they are to lease but they do a good bit of depreciating if you can get a used one
     
  19. HouR

    Gangster

    Joined: Dec 18, 2007

    Posts: 465

    Location: Hertford

  20. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,925

    Location: London

    2 year old 5 series (G30) are still nice cars and I doubt many people would be able to tell they aren't almost new.

    Combine that with some kind of finance, and that is a far less crazy of an idea than buying a new car and putting 70K miles on it in 2 years.