Welcome to our new Financial Advice Blog Series!
In this series we take a look at offers from various car dealers and leasing companies online, and give you a cheaper alternative from the used car market.
Loved Not Leased #1 – BMW 1 Series M140i Shadow Edition
£399 Deposit / £399pm for 4 Years / £13,761.23 Balloon Payment / 8,000 miles p/a
Total Payable £33,312.23
The engine in this car is honestly one of BMW’s all time greats. It’s rapid, in a real world, usable sort of speed kinda way.
Everyone and his dog drives a 1 Series, and people might take one glance and think it’s a 1.5 diesel. Also, what’s it going to be worth after 4 years, when you’re still on the hook for that balloon payment?
Alternative 1 – 2007 BMW M5 (E60) 5.0 litre V10 507bhp – £16,995
Total Saving £16,317.23
507bhp from that superb V10, plus with just 48k on the clock this is one investable car
Honestly, compared to an M140i, maybe servicing and fuel economy but we doubt there’s much difference, as it’s half the price of the M140i and unlike the 1 Series, will probably be worth more than you paid for it after 4 years…
Alternative 2 – 1999 Porsche 911 (996) Carrera 4 Manual
Total Saving £15,317.23
It’s a 996, and if you don’t already know that you NEED to buy a 996 NOW before prices follow the other models, then you’re clearly living under a rock. It’s also a manual in a desirable colour.
A few years ago you’d have got a C4S for this money. But that’s not really a bad thing, is it, it just shows where the money and the market goes.
Alternative 3 – 1982 Ferrari Mondial QV Right Hand Drive in Black
Total Saving £8,317.23
It’s a FERRARI, and the cheapest model of Ferrari at that, the hugely underrated, much maligned Mondial. Purists don’t like them, but purists are generally idiots. Who cares, when you’re driving a FERRARI?!
It’s a cheap Ferrari, but if it costs you £10,000 over 4 years you’re still in a better position than owning a rapidly depreciating 1 Series.
This time we are seriously stuck between the M5 and the 911. We’re talking about a 1 Series here, and most people will buy a 1 Series just to have a 1 Series on the driveway and not an ‘inferior brand’…
So, if we’re saying you buy a 1 Series for other people to see, why not go a step further and put a Porsche on your driveway?
We’ll take the Porsche 911 please, and save the left over cash for when that intermediate shaft issue rears it’s ugly head.