Reply to: How would you go about getting car finance?

[donaldduke]

It will be slightly less than the contract hire, the se was 11k, the z4 m will be 15k plus. With credit the car will have cost him 10k a year. IMHO not worth it

Not to mention Group 20 insurance, probably something like 2K a year.
And £400 a year road tax.
And doing 10K miles in 3.2 liter is going to drink around 4K in petrol.

[Bagpuss]

How much do you reckon a z4m coupe will lose in value over the next 2 years?

It will be slightly less than the contract hire, the se was 11k, the z4 m will be 15k plus. With credit the car will have cost him 10k a year. IMHO not worth it

[BoredBloke]

I can't see the point of this. You want to buy an expensive car which will instantly lose thousands the second you take delivery. To do so you are willing to take on finance which will be at a stupid apr, rather than wait 2 years for your credit history to repair itself.

Why not simply sink the 10k into a good second hand car and wait until you can get cheap finance rather than be saddled with a big loan at a stupid rate. Over the next 2 years you can then build up your 10k again and trade in your second hand car - probably not worth too much 2 years down the line, but it won't be worth 0.

How much do you reckon a z4m coupe will lose in value over the next 2 years?

[GreenerGrass]

I didn't come from a rich background

Neither did "Rich Dad".

[dotnetter]

I'm gonna get that as a audiobook actually, what's it actually about and why do people keep recommending it to me?

I didn't come from a rich background

[GreenerGrass]

Just buy a used 350Z for cash until you can afford a used M car thats already taken a big depreciation hit. Otherwise you won't have enough to spend on your wife and she'll leave you and financially ruin you for life.

And read Rich Dad Poor Dad.

[fzbucks]

It's real, she's been on Dragon's Den on BBC2

I've seen lots of people on dragons den that I wouldn't hand any money over to

[kirk]

Is that website for real or a pi$$take?

It's real, she's been on Dragon's Den on BBC2

[fzbucks]

Have you thought about personal contract hire? (or even YourCo contract hire). Residuals are pretty good on the Z4, hence the rates will be comparitively low.

....and then when you get bored you can chuck the keys back.

This one's pretty cheap, not the 'M' but I'm sure you could find one :

http://www.lingscars.com/car_detail....=1599&status=0

Is that website for real or a pi$$take?

[donaldduke]

Just because you can afford it, doesn't mean you should buy it !

And just because you can afford it today, doesn't mean you can afford it tomorrow.

Interest rates rising, property market crashing, shares tumbling - you'll need all the money you can get.

Agree, a car like this costs over 10K a year to own and run.

[Bagpuss]

Have you thought about personal contract hire? (or even YourCo contract hire). Residuals are pretty good on the Z4, hence the rates will be comparitively low.

....and then when you get bored you can chuck the keys back.

This one's pretty cheap, not the 'M' but I'm sure you could find one :

http://www.lingscars.com/car_detail....=1599&status=0

For that se model that's 11,273 for 2 years hire. Expensive!

[oraclesmith]

I'm looking to buy a new Z4 M Coupe, it's alot of money, I'm a contractor so obviously I can afford the monthly payments.

Just because you can afford it, doesn't mean you should buy it !

And just because you can afford it today, doesn't mean you can afford it tomorrow.

Interest rates rising, property market crashing, shares tumbling - you'll need all the money you can get.

[VectraMan]

Do you know any respectable Italian businessmen? I've heard they're quite keen to loan money to people like you.

[Bagpuss]

Why not apply for a 0% credit card and see what happens? you might get one in todays climate. If so just keep shifting the debt.
I currently have 20k on 0% earning interest.

as churchil said cash is king, expect 5-10% off list for cash

[dotnetter]

Yeah I'm not giving my money to that crazy missing link