[Scoot]

My sales contact at my dealership has just rang at 8:00pm to tell me he has got a new M5 for me this Friday for a 24 hour test drive. The bugger knows I don't like the figures but I know I'm going to bloody fall in love with it.

It's perfect for me now the Porsche has gone in so many ways but the sums are bloody mental!!!

10% deposit and £1700 a month based on a 80k vehicle doing 15000 miles per year.

On the bright side I've got Friday afternoon and for the first time in 4 months I have a Saturday free so I'm going to enjoy it.

Hopefully it's terrible !!!!

[briers]

That's mental

Don't do it

[Scoot]

Originally Posted by briers

That's mental

Don't do it

It's a trap and I know it's a trap but I just can't help myself

[briers]

Never bought an 80k car but those lease figures look absolutely bonkers

Especially when you can get an m3 for about 550-600'pm

I'm sure you will love it

[kaishang]

£1700 is s***loads. That's like taking on a new concubine.

[simples]

Originally Posted by Scoot

My sales contact at my dealership has just rang at 8:00pm to tell me he has got a new M5 for me this Friday for a 24 hour test drive. The bugger knows I don't like the figures but I know I'm going to bloody fall in love with it.

It's perfect for me now the Porsche has gone in so many ways but the sums are bloody mental!!!

10% deposit and £1700 a month based on a 80k vehicle doing 15000 miles per year.

On the bright side I've got Friday afternoon and for the first time in 4 months I have a Saturday free so I'm going to enjoy it.

Hopefully it's terrible !!!!

hope this review helps !!

http://www.topgear.com/uk/bmw/m5/road-test/driven

[M3-FAST]

I drove one last Saturday and the car is awesome!!!

The figures are madness tho, i was quoted on a 3 35 contract hire £1639 per month. That was with some options added bringing the car purchase price to £80323. It was about a hundred pound per month more expensive on a PCP with similar deposit. Also got to pay road
Tax yourself on a PCP whereas it's provided on the lease.

You will absolutely love the car tho, it really is a fantastic machine and pulls like a train!

[M3-FAST]

My figures are based on 8k miles per year by the way.

Still a crazy amount of money, especially bearing in mind my M3 was spec'd to nearly £55k and the monthlies are a fraction of the M5's!!

[Vaheed1]

I'm sure you could hire a island off the coast of cuba for £1700 a month!

[RagingKileak]

Give it a few months and that rate will be slashed significantly. Don't forget once established, a 6 month old one will be 60k - 2012 is looking far too grim for a better forecast than that.

Matt

[rogerxp]

£1,700 p/m is Lambo money .

[Palmnuts]

Those figures are truly mental....lets put it this way, my XKR listed at £10k more than the M5 (a total of £91k with all the options) and I am paying nothing like that monthly amount....my payment is still over £1k/month, but at the lower end Oh....I only put down 6% too. And.....this is on a car that is known to depreciate heavily (although my 20%ish discount helped a lot here).

The problem with the M5 right now is that it will depreciate just like my Jag but you're not getting the benefit of a the up-front discount or subsidised finance to offset that depreciation. Thats the price you pay for being an early-adopter I guess and I did exactly the same when the e92 M3 first came out...paid full list, no cheap finance and then when it dropped it;s pants, I was bummed.

Therefore, I do see the attraction in being one of the first owners of what is going to be an awesome car and, although rich coming from a nutcase like me, even I'm not brave enough to spend 50% more than I do now!

[Scoot]

I've already decided however good it is I will be waiting for a used one or hopefully a fantastic lease to arrive next year. If my 2.0d touring has dropped £17000 in 10 months I don't think the mighty M5 will stand much of a chance against these economic times.

[M3-FAST]

Yes fully agree, no discount is available on the M5 and no BMW contributions currently or for quarter 1 either!

Won't last long as they won't sell any!!

38 payments equates to about £62k!! So the car is only gonna be worth £18k in 3 yrs time? Yeah right! Some serious profit there for BMW

[SteveC]

£80k with 10% down and £1700 monthly payments for say 24 months

£80 less deposit equals £72k
2 years finance charges at say 10% apr is approximately £7.2K, taking you back up to $79.2K
23 payments of £1700.00 = £39.1K
Leaves a final payment of £40.1K

Given the current circumstances, you could probably make an offer based on 7% discount and 8% apr.

Which gives you:

80K less 7% discount on nett price (-£4,600) gives £75,400

10% deposit is £7,500 giving you approx £68,000 to finance

Finance charges for 24 months add approx. £4,800.00 taking you to £72,800

Using the same residual of £40.K gives you monthly payments of around £1430pm

I would get competitive quotes from Jag and MB AMG then make them an offer at something slightly below the above calculation

Otherwise I would just enjoy the 24 hours test drive, then eat my heart out for the following X months until I gave in.

[davyk31]

BMW clearly know it will depreciate like a stone hence the massive payments. As others say let it sit for 12 months then buy one they have had to register to get some on the road, lightly used and massive discount.

[Scoot]

Forecast is for snow on Friday!!!

[creepy coupe]

I'm not surprised at the quote TBH. I remember back in 2009 when I looked at leasing an M3. I was being quoted £1200 + PM + £4k depo on invoice values of £58k

[kaishang]

Originally Posted by Scoot

Forecast is for snow on Friday!!!

Errr, where did you read that?

[Scoot]

Originally Posted by kaishang

Errr, where did you read that?

It's on the news for my area.

[jjbirch530d]

i think i would get a bentley gt for 50k few years old one,and there 4wd so u wont get stuck lol 600hp ish looks alot more up market than an M5

[kaishang]

> It's on the news for my area.

Oh I see; it may snow in Hereford. Temp is still well above freezing though, so it should melt when it hits the ground.