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Thread: Trading up

  1. #1
    VXRed jasez28net's Avatar
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    Default Trading up

    Seriously thinking of trading in my car for an M5. Always wanted one and want to get some value out my car while it still has some value. Looking at an M5s about 5 yrars old with 25000 miles, BMW approved for 30 to 35 grand. Main thing that concerns me is the big problems that can happen that can ruin your bank account!
    My Vauxhall history - 92 Cavalier GSI 2000 4x4, 99 Vectra B GSI, 04 Vectra C GSI, 08 Vectra VXR, 15 Insignia VXR

  2. #2
    VXRed
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    Please don't get me wrong but if you're worried about emptying the bank account you probably should not buy it. Expenses are exponentially related to pleasure. For every bit of a pleasure more, you have to pay significantly more. Being that with the initial purchase or later through maintenance. Exceptions always exists of course.

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  3. #3
    VXR Nothing comes close IanJ's Avatar
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    A £90k car always has the running costs of a £90k car even if it's now worth a fraction of that - you need to accept that and prepare for it if you go down that road

    Astra

  4. #4
    Are you VXR enough? andy-'s Avatar
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    If you went down it then id be looking at a BMW extended warranty to go with it. Unreal machines although none of the newer ones would keep me out a E39 M5 which IMO is the best M car they've ever built
    Vectra VXR 280 . Courts Rad and Intercooler. Miltek cat back. K&N Panel. Eibach's. TD 1.2s

  5. #5
    Are you VXR enough? vxrmjp's Avatar
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    I don't like the whole concept of leasing, but it might be a better option if you want an M5. As others have said, the running costs (I'm thinking parts here) will be astronomical. Things will very likely be going wrong on a 5 year old car. New will give you piece of mind and when you weigh everything up, it may even be cheaper to lease.
    A friend of mine managed to get a new A7 for around the £400/month mark. It was a cancelled order, so if you're not too fussed on options and colour etc, some bargains are out there.

  6. #6
    VXR enough
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    not trying to put you off but a mate has an M6 which decided to chuck a rod , 30k later and a new engine and he got it back , he had a BMW extended warranty which is a grand a year on its own but it still didn't cover the full 30k bill , he ended up putting 6k of his own money , food for thought buddy

  7. #7
    VXR Adam"san" w20adm's Avatar
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    As scotty kilmer always says, older high end car's are pure money pits!

    The older v10 m5's from like 05/06 (cant remember the e model number of it) I keep seeing for like 9 grand. Seems like a bargain for a 500bhp 8k rpm screaming v10 i always think, but as I say above, if you get problems you're in money pit central.

    I hate leasing too but with piece of mind of knowing your car will never be older than 3 years, and be fully covered warranty while you possess it (not gonna say own it cause it's a false statement), it may be better to lease a new one!

    For me, these types of cars are and should only ever be luxuries, and really as a result only really suited to being a second/weekend/leisure car. If you have to worry about not being able to afford costs then it's always a bad idea. At least as a second car you ain't stranded if you get issues and it comes off the road. This is why I continually have to resist the urge to try go out and trade in my current car to get my dream car ... lol.

    Just my 2 cents. Like all older sports cars, you pays your money, takes your chances and run the gauntlet. Just be prepared for if anything ever happens if you do.
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  8. #8
    VXR Nothing comes close IanJ's Avatar
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    Quote Originally Posted by w20adm View Post
    As scotty kilmer always says, older high end car's are pure money pits!

    The older v10 m5's from like 05/06 (cant remember the e model number of it) I keep seeing for like 9 grand. Seems like a bargain for a 500bhp 8k rpm screaming v10 i always think, but as I say above, if you get problems you're in money pit central.

    I hate leasing too but with piece of mind of knowing your car will never be older than 3 years, and be fully covered warranty while you possess it (not gonna say own it cause it's a false statement), it may be better to lease a new one!

    For me, these types of cars are and should only ever be luxuries, and really as a result only really suited to being a second/weekend/leisure car. If you have to worry about not being able to afford costs then it's always a bad idea. At least as a second car you ain't stranded if you get issues and it comes off the road. This is why I continually have to resist the urge to try go out and trade in my current car to get my dream car ... lol.

    Just my 2 cents. Like all older sports cars, you pays your money, takes your chances and run the gauntlet. Just be prepared for if anything ever happens if you do.

    My brother owns a V10 M5, he loves it but it's bitten on needing a new clutch which only cost £3500 not the potential £7k bill a few years ago, and then earlier this year it went bang at a speed unmentionable on here!
    The result being various quotes from £9-16k (oh and you need to add VAT to that lol) to rebuild the engine....so the solution was to buy a relatively low mileage engine, it's currently with one of the specialists in M engines having the bearings replaced and then the car is heading off to have the new engine fitted - if all goes well and there's no other cost carnage then it will have cost about £6k which is a result in the big picture!


    He loves it otherwise it would have been /sold/parted out - at the rate they are being stripped and cannibalised then there won't be many of them left running!

    Astra

  9. #9
    VXR Adam"san" w20adm's Avatar
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    It's always a labour of love. If you can take parting with the cash for the smiles then go for it.

    I was a bit shocked to see a car that was 80k plus more for options 13 years ago selling for 9k though ....
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  10. #10
    Are you VXR enough? vxrmjp's Avatar
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    The price of high running costs! With depreciation like that, leasing is probably the best bet. At least then, horrible bangs won't be your problem.

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