Get a new E92 M3 Limited Edition 500? Or keep old E46?

[Jazz]

So I've just started working for Bavaria Motor Works, and immediately they are tempting my inner-car buyer with a very low monthly deal on one of these. It's a staff discount and it is pretty much half the cost of a conventional lease-type agreement which on paper looks excellent- possibly the only way of me right now getting behind the wheel of a £60k semi-supercar. After 18 months I give it back by which time the awesome new M4 coupe will be out, and if I wish I can get a similar deal on one of those too.

Its a brand new E92 M3 Limited Edition 500 with the Double Clutch Transmission.

Quite a beast although I'd probably need to sell my old M3 (can't justify having 2 M3s on the drive!) which I own outright.

Sell the old girl for a brand new one with monthly payments? Or save my money and keep my trusty old E46 which is still masses of fun? The '46 is getting on a little and will need a few bits replacing soon which has got me thinking. Massively tempted by the new model but I honestly can't make up my mind.

Cars in question:

New 2013 E92 M3 Limited Edition 500 with DCT

http://images.autoexposure.co.uk/AETA44510/AETV52300994_1b.jpg

http://pictures.topspeed.com/IMG/crop/201301/bmw-m3-pure-coupe_600x0w.jpg

http://www.m3post.com/forums/attachment.php?attachmentid=622213&stc=1&d=1324511832

http://i.imgur.com/jbs0Q.jpg

And the old girl, 2003 E46 convertible.

http://i255.photobucket.com/albums/hh140/jazz_360/M3hooddown_zpsb905ab79.jpg

Torn right now tbh..

[Prickle]

I would straight away.

No questions..

[Ryancoyle]

Does this really need to be answered?

I think you should know what to do.

Get the new one.

I could add that new BMW to my visual wank bank

[Jazz]

Thats what a few people on another forum have said guys!

It is a tempting prospect, although they isn't much wrong with my old one, brake discs and a few bits which is easily sorted... but this is a rare opportunity. Worth thinking about.

[Ryancoyle]

Thats what a few people on another forum have said guys!

It is a tempting prospect, although they isn't much wrong with my old one, brake discs and a few bits which is easily sorted... but this is a rare opportunity. Worth thinking about.

I really wouldn't think about it, I would just do it.

Think the new one looks unbelievable looking.

[Prickle]

Aslong as you can run it without worrying about your money then i dont see why not. You will regret it if you dont. You know that. ;)

[TomT]

Have both, ball out!

No but get the e92.

[Jazz]

But I do love my old M3, she has been a loyal fun workhorse! Plus with this lovely weather I can drop the roof and look like a gay poser! So good lol..

But each time I see the new model my genitals swell, they are that sexy.

Edit- looks like this poll is only going one way. No support for the old E46?

[McGuire86]

Save money, get a house :D

[Jazz]

Save money, get a house :D

A man of reason has entered the thread...?

Not a bad shout.

[Prickle]

Edit- looks like this poll is only going one way. No support for the old E46?

na its in the wrong colour. :fcuk: ;)

[Ryancoyle]

A man of reason has entered the thread...?

Not a bad shout.

It just depends on how you are financially.

Most people will pick the new one as of looks etc.

Do what you fell most comfortable with.

Only problem is will you get this opportunity again to get this car?

[Jazz]

na its in the wrong colour. :fcuk: ;)

Thought you were bit of a silver man yourself Mr John? :afro:

[Jazz]

Thats the thing, I probably won't be able to get this car again. I'm 25 and not from a rich family by any account.. I'll be in my mid thirties before I can actually buy a new one of these I reckon. Just a work-perk that is being offered up now, I'm tempted to take the plunge.

But of course, I could also do what McGuire says and save for a house which sounds pretty sensible.

[McGuire86]

A man of reason has entered the thread...?

Not a bad shout.

It's upto you mate, but just think you already have a mint car. Why not give it it's own home ;) I'm sure later down the line when you are further up the career ladder with your job you will be presented with something equally if not better than the one in question.

[Stissy]

E92 or E46 convertible?
how is that even a choice? go for it man :y:

[Aaron]

do you ever see yourself owning one in the future....

if its a really good deal which most other people arent going to get, then why not.
will the deal ever happen again?

All depends on your current living arrangement's to be honest.

[Ryancoyle]

Thats the thing, I probably won't be able to get this car again. I'm 25 and not from a rich family by any account.. I'll be in my mid thirties before I can actually buy a new one of these I reckon. Just a work-perk that is being offered up now, I'm tempted to take the plunge.

But of course, I could also do what McGuire says and save for a house which sounds pretty sensible.

If you are looking for a house I would probably go down that direction then TBH.

[Jazz]

Thats the thing... I live in with my parents, their house is a detached 6-bed so plenty of room for me. Dad is getting on now so I'm helping out paying the bills etc, I practically run the house alongside him so its pretty good. I can do what I want, no restrictions etc.. we all get on really well and there is NO urgency to kick me out.

But at the same time, mortages are very low right now, idea time to get on the ladder, sets me up for the future etc.

I'm not likely to get this offer again, at least for a while, especially as this model ceases production in June. Its a £60k motor and its mine for monthly payments less than a Focus ST.

Nice decision to have to make but not easy anyhow!

[Ryancoyle]

Thats the thing... I live in with my parents, their house is a detached 6-bed so plenty of room for me. Dad is getting on now so I'm helping out paying the bills etc, I practically run the house alongside him so its pretty good. I can do what I want, no restrictions etc.. we all get on really well and there is urgency to kick me out.

But at the same time, mortages are very low right now, idea time to get on the ladder, sets me up for the future etc.

I'm not likely to get this offer again, at least for a while, especially as this model ceases production in June. Its a £60k motor and its mine for monthly payments less than a Focus ST.

Nice decision to have to make but not easy anyhow!

It's really up to you.

Depend's on whether you want to move out now or leave it for another couple of years.

Anyone would pick the new BM but in your circumstances it's a hard choice.

If your happy with your current BM why not keep it and take out a motgage on a house soon.

[Nibber]

I'd personally live with my parents and get the E92 haha.

[Davyy]

Surely the sale of your E46 will cover the monthly payments for a fair while, so the monthly payments shouldnt be an issue.. and it is a gorgeous car! Also, do you foot the bill for servicing/repairs on a lease car?

[Stissy]

Surely the sale of your E46 will cover the monthly payments for a fair while, so the monthly payments shouldnt be an issue.. and it is a gorgeous car! Also, do you foot the bill for servicing/repairs on a lease car?

this guy has the right idea. get the E92 (because its a lot better than an E46) then use the money you make from the sale to either save for a house, or pay off the E92 while you save for a house

[jage]

Do it, sell the m3 and then use the money off the e46 sensibly?

[Jazz]

The sale would cover the monthly payments for most of the term lol, but at the end of it I won't own a car as the new one needs to be given back. Nice owning your own car and all that..

Any bills incurred I'd need to sort but being brand new it will have a 3 year warranty anyway, so no surprises there.

[Yates]

Your m3 looks so dated next to that. Get 92 and house

[Jazz]

Your m3 looks so dated next to that. Get 92 and house

You don't want a review? I feel insulted :panic:

[McGuire86]

The sale would cover the monthly payments for most of the term lol, but at the end of it I won't own a car as the new one needs to be given back. Nice owning your own car and all that..

Any bills incurred I'd need to sort but being brand new it will have a 3 year warranty anyway, so no surprises there.

Exactly so at the end of the term you will be left with no car ! :fcuk:

Or by then you could still have your E46 and closer to a mortgage :y:

[Stissy]

Exactly so at the end of the term you will be left with no car ! :fcuk:

Or by then you could still have your E46 and closer to a mortgage :y:

take it back, take out the M4 coupe.

[Jazz]

Very true..

I'll be regularly driving the new one at work anyway so it's not like I'm totally missing out.

Heart says new M3, head says save for mortgage.

Stissy- got my eyes peeled on that mate but not due until end of the year or thereabouts/ deliveries early 2014.

[Stissy]

Very true..

I'll be regularly driving the new one at work anyway so it's not like I'm totally missing out.

Heart says new M3, head says save for mortgage.

Stissy- got my eyes peeled on that mate but not due until end of the year or thereabouts/ deliveries early 2014.

thats that i mean sorry, keep the 92 for now then take it back for the M4 after your 18 month period.

[Dan-Subtle]

Keep the M3 and save the money for a house.

At the end of the day yes it will be great for 18 months or so driving round in a nice BM, but then reality will kick in when you have to give it back, you will not own your own car, you will be no closer to buying a house and you are back to square one.

[Prickle]

And the old girl, 2003 E46 convertible.

http://i255.photobucket.com/albums/hh140/jazz_360/M3hooddown_zpsb905ab79.jpg



http://i273.photobucket.com/albums/jj211/bavaria73/E46%20M3/DSC02615.jpg

Thought you were bit of a silver man yourself Mr John? :afro:

I do but

[Yates]

Your reviews aren't what they used to be!

[Jazz]

Fair enough that blue does look nice Jonneh..

Matt- you're losing faith! Going to have to write a stella review just for you I reckon ;)

Yeah the annoying thing is that in 18 months I don't actually own a vehicle myself, although I can give it back and take another new one out and so on.

[Yates]

Yeah then you are starting again, or get another lease, and carry that on for years

[Jazz]

I guess it's an easy way of getting a brand new top of the line car every 18 months without worrying about depreciation and all that other shit that comes with ownership. No MOTs or repair bills, alway having a warranty, just fuel it, tax it, insure it and drive it.

[Spanky]

You only live once...

wouldnt the sale of your BMW go well towards a deposit on a house? Obviously depends how much house you want.

I would take the new car knowing that i will get a new BMW after it so not being left without a car, even if you dont own it, you still "have" a car...

Your choice though.

[Mochachino]

So its basically renting a car but you pay for expenses on it?

Suppose its no different to buying straight off the dealers floor with depreciation etc. So the money you throw away and pay to someone else on renting the car is the same aount lost in depreciation?

[Jazz]

So its basically renting a car but you pay for expenses on it?

Suppose its no different to buying straight off the dealers floor with depreciation etc. So the money you throw away and pay to someone else on renting the car is the same aount lost in depreciation?

You pay for the 'rental' each month, no deposit up front or anything. Depends on how you look at it.

As there is no down payment/lump sum included anywhere in this deal I wouldn't say you feel depreciation at all, you just pay for having/using it and then you give it straight back.

[Yates]

I don't think I could ever lease a car. I like to think a car is mine. I think you are same as me.

[Jazz]

Thats the thing, the E46 is mine, my name on the V5 etc.. wouldn't be the case here, its the company's but its mine for the term. Quite like 'owning' my own car tbh.

Then again if I'm getting the continued use of a new and very expensive car every 18 months is that much of a deal? I don't know.

[Mochachino]

I think I would get the calculator out.

Work out how much you would pay over how long.

Then work out how much you would lose in depreciation over the same period on the same car but if you bought it second hand with 4k miles on, so would be cheaper than from the showroom.

Work out which is a better deal. Then get a mortageg for £75k more than the house you want to buy, buy the car and have Ks in your pocket at the end when selling the car rather than just giving it back. Ideal world... haha

[Yates]

How much are you going to be paying a month? Then fuel on top? What about insurance?

[Ryan]

Just make sure the colour doesn't clash with the dodgy car salesman tie's

[MikeYost]

Get the E92 all day long

[0rang3peel]

Personally if it's a good deal I'd get the lease deal, flog your bmw then with that money you have money for a deposit on a house or flat, even if it's somewhere shit you could still stay at home, pay off the mortgage while doing it up etc and either sell it off or move in after you've made it better.

Of course this is an option if you actually want to get on the ladder, I've just done similar and managed to get enough for a shithole near me, 3 bed with a huge drive for £70k (god bless property prices in shitty wales) needs loads of money ploughed into it mind.

[Jay_]

When I saw this thread I thought Dom had started it :oops:

[LSOfreak]

definitely e92

Id like one in a couple years. Second hand ones can be had for about £20k these days.

Ive always preferred the shape of the e93's though :S

[Tommo87]

Don't be a dick and just get the E92.

However I'd blag for an M5 lol.

[stiffler69]

get the new one but after summer you will miss the drop top

[manta]

As long as it's a manual box.

New one.

[Stissy]

As long as it's a manual box.

New one.

The paddle shift in the e92 is banging though. And if you look at the track stats, the 335d with a paddle box out performs the more powerful 335i with manual.

[manta]

It might be quicker round a track.

But I'd buy an M3 for driving pleasure rather than being .2 of a second quicker round silverstone.

[devilsadvocate]

Keep the E46 in my opinion.

The older BMW's seem to have less issues than the more modern ones :S

[Viper]

After the 18 months how much will you have paid?

Seems illogical to spend a load of money knowing you don't get to keep it.

[Mochachino]

After the 18 months how much will you have paid?

Seems illogical to spend a load of money knowing you don't get to keep it.

Thats what im saying aswell! Work out how much the car would depreciate too over the same period.

[Jazz]

At the moment M3s are dropping about 8-10k off the list price in the first year alone. After that it levels out easier.

After 18 months I would have paid about 6k, so it is far, far better than depreciation.

[Yates]

But you won't lost that on the current m3

[Jazz]

No I wouldn't.

[Mochachino]

At the moment M3s are dropping about 8-10k off the list price in the first year alone. After that it levels out easier.

After 18 months I would have paid about 6k, so it is far, far better than depreciation.

How much is your E46 M3 worth now and how much would it be worth in 18 months?

[Jazz]

Right now my car is worth about 8.7k, in 18 months hard to tell, maybe 7k-ish.

[TomT]

oh I was under the impression you had your own house for some reason.

I'd definitely not be thinking about a 60k car whilst living with parents personally but it seems you've got no reason to move out soo

[Viper]

Is there a way to pay a sum after that to keep the car?

[Jazz]

Don't have my own house yet no, that's the only thing giving me second thoughts tbh otherwise I would have signed for the new car already.

No the deal is 18 months then I give it back.. The advantage of this particular deal is that there is no lump sum deposit or anything like that, just 18 monthly payments and then return it. As its a work offering it works out at least 50% cheaper than a normal deal due to no heavy deposit that's normally needed for a car like this.

[Mochachino]

Don't have my own house yet no, that's the only thing giving me second thoughts tbh otherwise I would have signed for the new car already.

No the deal is 18 months then I give it back.. The advantage of this particular deal is that there is no lump sum deposit or anything like that, just 18 monthly payments and then return it. As its a work offering it works out at least 50% cheaper than a normal deal due to no heavy deposit that's normally needed for a car like this.

After 18 months you give the car back and you are not tied in to any longer term payments on another car. So basically after 18 months you are back in the same situation as now?

[Jazz]

Yes, you've effectively paid for the monthly rentals while you have it and just hand the keys back afterwards. Many deals these days have pricey deposits which end up stinging you when you give the car back, not so here.

Still better than depreciation and you can get a new car deal straight away afterwards.

[Yates]

How old are you?

[Jazz]

I am 25

[Prickle]

I am 25

Do you have a bitch?

[Jazz]

Do you have a bitch?

Funnily enough tonight I do.

Tomorrow I won't.

[Yates]

Id get house. Be 27 after car lease. Fuck being over 25 and still at home to have a better car

[Mochachino]

In my opinion I wouldnt basically throw away £5000 to have a newer nicer car for 18 months when your current one does its job and is still fun to drive. I dont see any long term advantage in that.

Id keep the E46!

[TomT]

In my opinion I wouldnt basically throw away £5000 to have a newer nicer car for 18 months when your current one does its job and is still fun to drive. I dont see any long term advantage in that.

Id keep the E46!

I do see what Jazz is saying though like you essentially do that when you buy a new car anyway

[Mochachino]

I do see what Jazz is saying though like you essentially do that when you buy a new car anyway

Yeh, thats why I mentioned a 2nd hand car with a couple k miles on rather than a brand new one on the page before. Unless that post didnt go through when my internet went :(

I just dont see the benifit of it really. £5k more out of pocket, but any issues are under warrenty, thats really the only advantage I see.

Sell the E46 now and get the new BMW and after 18months you have £1000 in your pocket.

Keep the E46 and sell it in 18 months and you have £5/6k in your pocket.

[Yates]

Sell m3 now get smaller car and get house?

[TomT]

Yeh, thats why I mentioned a 2nd hand car with a couple k miles on rather than a brand new one on the page before. Unless that post didnt go through when my internet went :(

I just dont see the benifit of it really. £5k more out of pocket, but any issues are under warrenty, thats really the only advantage I see.

Sell the E46 now and get the new BMW and after 18months you have £1000 in your pocket.

Keep the E46 and sell it in 18 months and you have £5/6k in your pocket.

Probably just missed it I haven't read every post tbh

I do agree as I personally wouldn't buy a brand new car but if I was going to then this seems a decent idea to me

[0rang3peel]

So leasing the car for 18m is going to cost 6k?

fuck that!

I assumed it would be a lot less than that (no idea really haven't ever leased anything)

[Rich84]

Alpha drive deals by any chance?

We've got one of them sat in our place atm, declined finance

Btw get the E92

[ThrushMotorsport]

I like the e92 but really, Dakar yellow would be my choice

[makaveli144]

Probably not the soundest decision to make financially, as you are essentially just renting the car so you will have nothing to show for your 6k at the end of it. A bit like renting a house.

[Yates]

Im thinking stick with current. Got a few mates who paid for big cars and still live at home, get nothing but shit from all rest of us. Pull a bird take her out in nice car, goes well, oh no back to yours?! Nah live at home.

You have a nice car already, bar the soft top. Stick with it

[AdamB]

I like the e92 but really, Dakar yellow would be my choice

And have Gibbo arse raping you

[leeroybrown]

1000 a year road tax! Fool that!

[Psycho18]

Im thinking stick with current. Got a few mates who paid for big cars and still live at home, get nothing but shit from all rest of us. Pull a bird take her out in nice car, goes well, oh no back to yours?! Nah live at home.

You have a nice car already, bar the soft top. Stick with it

Agreed!:y:

[ThrushMotorsport]

And have Gibbo arse raping you


Fisting me and all that sheit :fcuk:

[danzman1991]

Hmm, I'd rather an E46 M3 parked on the driveway of my own house than an E92 and living with my parents!

[griff_106]

Personally I'd stick with the E46 and save for a house. Fair enough, you'd get to drive around in a nice new E92 M3 for 18 months, but it wouldn't be yours and at the end of the term, you'd be left with no M3's lol. I'd be worried about waking up one morning to find the thing gone walkies with the key cloning trick with new Bimma's...

Save for a house mate - sod having to live with the parentals forever and a day regardless of how well you get on with them IMO!

[mattknight1984]

Another vote for to keep the E46. Might have no reason to leave home yet but living with parents is not good - especially at the age of 25 and over.

[DeanAngell1234]

Yes the posing in the convertible is good..... But the new one would be so much better to drive :)

[blackie_2k5]

As nice as it is.. It won't be yours

So you're just paying someone else for the chance to drive it

[Gandi699]

Personally I'd rather my own house and an older car. An e46 m3 is still a swish motor anyway and it belongs to you rather than being a lease

[baker556]

Its only £333 per month i personally think thats cheap to use a car like this on a daily basis. If you look at it like renting a house its the same principal. Sell E46 do this deal then get another car and house after it.

If you had a partner to share the bills/mortgage then move out. If not take the car.

[Yates]

Only 333 lol. Plus petrol so it's 333 extra a month, when saving for a house that's a massive saving. That's almost 2/3 of my mortgage

[Jazz]

If I take the deal I can still save for a house every month but obviously the savings would be considerably less.

Right now I'm thinking hang on the E46 and just see how things look end of the year. I probably won't get this deal again on this particular model, but there will be other opportunities if I want it.

Although the temptation of getting a brand new M3 on this deal is still huge.

[JAM]

No brainer for me. Take the E92 M3! One life. Live it.

[Nick_Bush]

New car buzz will last a couple of months, then it will just be pretty normal and an everyday drive.

Tax is huge, so is the fuel, 6 months down the line and normal everyday living with it, I would think, "whats the point" Plus you will never own it, whats the point.

I actually prefer your E46 IMO...

[LSOfreak]

New car buzz will last a couple of months, then it will just be pretty normal and an everyday drive.

Tax is huge, so is the fuel, 6 months down the line and normal everyday living with it, I would think, "whats the point" Plus you will never own it, whats the point.

I actually prefer your E46 IMO...

This tbh

Although, you could just think of it as just a cheap hire car for a new m3 for 18months?

I know its not the same, but ive basically done a similar thing. Bought an e93 320 of me old dear. Used it for a while, now thinking of selling for a deposit for a house as the novelty has worn off. And an expensive roof fix was a pain in the bum

[Hazmanscoop]

If you're thinking of getting a house, I'd go for that.

Yeah it's a nice car and everything, but as said, it's not yours.

Yours is a lovely motor, why sell it?

My advice is to go for a house, as it gets you on the ladder and start to climb.

That offer will probably come up again in the future. I don't think you're missing out if you don't get the new car.

At the end of the day, this is other people's advice that aren't in this situation. It's easy for someone to say something when it's not happening to them.

I wouldn't listen and go for what YOU want.

Just my 2p

[Manu]

Wouldn't spend that much money just to end with no car. Not sure if the means justify the end.

[Pat_Vts]

£6k plus insurance and tax and one/two services, i'd guess £10k for those 18months as a general figure along with if you rag it - tyres aren't cheap. £150 + per corner.

£10,000 divided by 18 is = £555 a month or so.

I'd go for it, you are working and living at home, you should be able to make savings elsewhere really and how often do you get the chance to own something like that but it is something that won't last lol.

I had a similair choice recently and got myself a M Sport touring which i actually own, as opposed to the golf which i didn't but was very cost effective still. It's all swings and roundabouts.

[Carl-h]

I'm quite old fashioned in that I like to actually own the things I drive/ride. I have borrowed from my parents on occasion although it was paid as fast as I could manage.

It's the same as a house, I will never rent unless its an absolute last resort. I don't want to pay someone else's mortgage when I could be paying my own. I wouldn't buy a car on finance and certainly not lease although the deal you mention is a bloody good one.

I guess to me actually owning the car I drive is more important than what the car is or how new it is.

[Nick_Bush]

If the worse happened and you either lost your job or was made redundant, what would happen then? The deal would be gone along with the car?

[saxo_90]

If the worse happened and you either lost your job or was made redundant, what would happen then? The deal would be gone along with the car?

What he said. Also what role is it you have been given? Salesman etc…