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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: 1,324

    Yeah he did mention he really likes these so it will probably be an option for him. I've ridden as a passenger in a couple and I was really impressed with the ride quality.

    Yeah I think he will have to rethink what's possible with his mileage. I know he did used to own an s60 d5 and absolutely loved it so a v70 could be on the cards too!

    Yeah I think this is one of the things he is looking into at the moment. I'm trying to get him to hold off until he gets promoted but he's unpredictable when it comes to cars and he could turn up in a new one tomorrow.
  2. new boy


    Joined: Jun 25, 2009

    Posts: 3,196

    Location: Weston-super-Mare

    Can't scrape more than a grand together.

    Wants to drive brand new 5 series.

    Really? What's wrong with living within your means?
  3. muon


    Joined: Nov 8, 2006

    Posts: 18,062

    Location: London

  4. mccarf

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,324

    I get both sides of the coin here really.
    I understand people who do this. They see something nice and want it. Most people are the same. With finance acting as a "gateway" to cars people cannot truly afford it's easier to get into these sort of cars with lower income than it used to be. The monthly cost is what lots of people look at rather than the total cost and some of these cars look like a bargain. For only x amount I can get a 5 series rather than a Mondeo etc.

    On the flip side, I drive a civic that I bought for £1500 2 years ago and I'm fine with it. I occasionally get the upgrade itch when I see cool cars but I understand it's not financially reasonable to do so while I'm a student. I think some of it is just about life experiences teaching lessons really. I had an absolute turd of a 350z which was starting to catastrophically fail. Although I could afford to put fuel in it and pay for normal consumables I didn't really factor in any sort of engine rebuilds or major repairs and I had to move it on because of the serious amount of money it was costing and would potentially cost me. Paying an outrageous % of monthly income into cars is not fun at all and that's why I started this thread and am trying to guide my friend into a nice car without him going through the same sort of financial issues.
  5. Abyss


    Joined: Oct 18, 2002

    Posts: 4,270

    Location: Nottingham

    Whilst I don't do quite as many miles now I used to regularly do 30k per year. In the higher mileage brackets it comes down to depreciation on the car more than anything. I was working out Ford Mondeos costing me more than an Audi A6 because the residuals were so poor on them.

    For a £500 per month budget for depreciation / interest on the loan I've been able to run an Audi A6 (bought at 2 years old for £19.5k loan and no deposit, kept for 3 years and ended up with £4k equity in the car) and an Audi A4 (bought for £26.5k with £4k equity and sold after 2 and a bit years with the same £3k equity left).

    To make it work you have to hunt out the right deal and know what the car will likely be worth when you sell it. You also need to get finance cheap, both times I used personal loans at circa 3% and a £5k interest free loan my employer offers.

    I would however agree with most of the above posts though, that if he can't scrape together a £1k deposit whilst driving his Exeo swapping to a 5 series or A6 sounds like a bad idea!