can we cancel?

Keith

blueye wrote: »

omg im never going to buy a mondeo lol
id rather walk for five years and save for an rs4

With as much debt as you have, I'd rather have a £750 Mondeo than a £8000+ 80k+ BMW.

Save? Perhaps you should pay off your debt first?

blueye

i am paying off my debts

motorguy

hundredk wrote: »

Mondeo 2.2 TDCi Titanium X 5d - here
Price new ................£18566
3 year residual value ..£7650 (41.2%)
Depreciation.............£10916

BMW 320d SE (08) 4d - here
Price new ................£26400
3 year residual value.. £12385 (46.9%)
Depreciation............£14015

More than £3k more lost in depreciation on the BMW. That's before you start adding options to get the BMW to the same spec as Mondeo.

Your figures are flawed - you're using a very heavily discounted price for the Mondeo and a fractionally discounted one for the BMW. The BMW is easily available for £23500 (www.broadspeed.com) and thats a uk car from a uk dealer. Plug those figures in to yours above, and that brings the depreciation cost on the BMW to £11115 (just £199 more than the Mondeo)

Also, you're making the classic mistake of only looking at cost to buy when looking at running costs. You need to look at the whole life costs, including tax, insurance, servicing, fuel, etc.

Heres an example i ran about a month ago from What Car?'s website against a lower spec comparison



I cant now get that 'real cost' figure for the two cars you've picked as their website has changed, but it does now give a cost per mile for each over three years. It comes in at 53p per mile for the BMW 320d SE and 65p per mile for the Mondeo. Multiply that up and you get roughly £19K to run the BMW for three years, and £24K to run the Mondeo.

Granted, the Mondeo is a higher spec, but it has got all the stuff you'd expect - full electrics, air con, alloys, cd player and the Ford has things i wouldnt spec on any car, unless it was free - heated seats and folding mirrors for example - and that £5K saving would buy you a lot of options on the BMW....

motorguy

blueye wrote: »

i am paying off my debts

Mate, i'd have to agree with the post above - if my finances were that screwed up i needed a Debt Management Plan in place, an Audi A4 would be the least of my concerns.

hundredk

pgilc1 wrote: »

Your figures are flawed - you're using a very heavily discounted price for the Mondeo and a fractionally discounted one for the BMW. The BMW is easily available for £23500 (www.broadspeed.com) and thats a uk car from a uk dealer. Plug those figures in to yours above, and that brings the depreciation cost on the BMW to £11115 (just £199 more than the Mondeo).

I used the best price available from the same site for a fair comparison. The discounted price is a price that is easily achievable and RRP not really relevant because only a mug would pay that. For speed I also selected the highest spec mondeo to eliminate to ensure the car had at least the same spec. If specs are compared as near like for like as possible here, then the 2.0 5dr mondeo zetec is most comparable and is available here for £15338. Taking this into account as well as your figures and you get:

Mondeo 2.0 TDCi Zetec 5d
Price new ................£15338
3 year residual value ..£6366
Depreciation.............£9002

BMW 320d SE (08) 4d
Price new ................£23500
3 year residual value.. £12385
Depreciation............£11115

pgilc1 wrote: »

Also, you're making the classic mistake of only looking at cost to buy when looking at running costs. You need to look at the whole life costs, including tax, insurance, servicing, fuel, etc.

I am well aware of 3 year and whole life costs, in fact company cars are often allocated by grade and the level of car is set by 3 year whole life costs which, of course takes account of all the elements you list. These lists do not feature premium brand cars of the same spec simply because the cost over 3 years is more and pushes them into a higher bracket. It is possible to pick specific examples where a brand may appear cheaper over a period but generally if you lose less in depreciation on value, you will always be playing catch up on fuel, insurance etc.

pgilc1 wrote: »

I cant now get that 'real cost' figure for the two cars you've picked as their website has changed, but it does now give a cost per mile for each over three years. It comes in at 53p per mile for the BMW 320d SE and 65p per mile for the Mondeo. Multiply that up and you get roughly £19K to run the BMW for three years, and £24K to run the Mondeo.

Granted, the Mondeo is a higher spec, but it has got all the stuff you'd expect - full electrics, air con, alloys, cd player and the Ford has things i wouldnt spec on any car, unless it was free - heated seats and folding mirrors for example - and that £5K saving would buy you a lot of options on the BMW....

With enough research it is possible to compare 2 cars on sites such as this which takes account of personal circumstances. Maybe OP should have done this???

However my post was to merely demonstrate to the OP that if you cant afford to pay the premium for a premium brand then consider something cheaper that will do the same job without the badge.

I was going to go on and say that the 3 yr residuals are more relevant to OP than new prices since that more accurately reflects his budget. In this case £6336 Vs £12385 is very favourable...or take that further, an 04 plate model of both cars (not entirely accurate due to medel changes but good indication) and a 5yr old mondeo = £2900 Vs 5Yr old BMW = £5600.

The point is OP has £60k (I couldn't see where he said that but others commented on it) so was looking for alternatives. As it is he's gone and got an Audi within a couple of days after cancelling the BMW...no details of what he paid so not much point offereing him any more advice even if the Audi is cancelled.

hundredk

pgilc1 wrote: »

Mate, i'd have to agree with the post above - if my finances were that screwed up i needed a Debt Management Plan in place, an Audi A4 would be the least of my concerns.

I'll second that - lose the badge, get a run around and clear the debt.

Hintza

This thread just has to make you laugh. :rolleyes:

Sidmon

Hintza wrote: »

This thread just has to make you laugh. :rolleyes:

Or cry! :mad:

motorguy

hundredk wrote: »

I used the best price available from the same site for a fair comparison. The discounted price is a price that is easily achievable and RRP not really relevant because only a mug would pay that. For speed I also selected the highest spec mondeo to eliminate to ensure the car had at least the same spec. If specs are compared as near like for like as possible here, then the 2.0 5dr mondeo zetec is most comparable and is available here for £15338. Taking this into account as well as your figures and you get:

Mondeo 2.0 TDCi Zetec 5d
Price new ................£15338
3 year residual value ..£6366
Depreciation.............£9002

BMW 320d SE (08) 4d
Price new ................£23500
3 year residual value.. £12385
Depreciation............£11115

If you're using the 140BHP 2.0TDI engine, then you need to use the equivalent 2.0TDI BMW - the 143BHP 318d SE. Its available for £22566, thus bringing the difference down to £10K of depreciation. Then, once again, the BMW uses less fuel, requires servicing less frequently, etc. Also, a more comparable spec is the 320d ES (the one i used above in the pictorial example) which again costs less to run over three years than the mondeo.

hundredk wrote: »

I am well aware of 3 year and whole life costs, in fact company cars are often allocated by grade and the level of car is set by 3 year whole life costs which, of course takes account of all the elements you list. These lists do not feature premium brand cars of the same spec simply because the cost over 3 years is more and pushes them into a higher bracket. It is possible to pick specific examples where a brand may appear cheaper over a period but generally if you lose less in depreciation on value, you will always be playing catch up on fuel, insurance etc.

Agreed, and that does show that if you're canny with what you buy, then a new 2.0TDI 3 series will cost less over three years than a 2.0TDI mondeo, given the lower running costs of the BMW.

hundredk wrote: »

However my post was to merely demonstrate to the OP that if you cant afford to pay the premium for a premium brand then consider something cheaper that will do the same job without the badge.

I was going to go on and say that the 3 yr residuals are more relevant to OP than new prices since that more accurately reflects his budget. In this case £6336 Vs £12385 is very favourable...or take that further, an 04 plate model of both cars (not entirely accurate due to medel changes but good indication) and a 5yr old mondeo = £2900 Vs 5Yr old BMW = £5600.

The point is OP has £60k (I couldn't see where he said that but others commented on it) so was looking for alternatives. As it is he's gone and got an Audi within a couple of days after cancelling the BMW...no details of what he paid so not much point offereing him any more advice even if the Audi is cancelled.

Totally agree. I was made redundant about three years ago and bought a £680 Peugeot 406 until i got sorted out with another job. Loved that car. Sold it for £640 after six months - kind of puts new car depreciation into perspective doesnt it?

I think the O/P is MAD to be putting money into a car when it quite clear from their other posts they have much more important things they should be focussing on.

dieselhead

Wow absolutely crazy, spending that much money with that amount of debt. Then to justify it by saying 'I'm car crazy' well so am I but I have to be car crazy from a distance!