C63 - worth having before V8s are outlawed by the nanny state?

[Endex]

Probably the wrong section to ask this question in but..........

I'm in the fortunate position of having the option to have car allowance in lieu of a company car and looking at the competitive lease deals am considering a C63 saloon or coupe on a 2 or 3 year lease versus purchasing a 1 to 2 year old pre owned one with a view to keeping it.

So my questions are:
1. What if any are the pit falls of longer term ownership that should deter me from purchase?
2. Would it be better to lease, enjoy and return on the basis that the car would be warranted for the duration?

 

[rsk21]

Probably the wrong section to ask this question in but.......... I'm in the fortunate position of having the option to have car allowance in lieu of a company car and looking at the competitive lease deals am considering a C63 saloon or coupe on a 2 or 3 year lease versus purchasing a 1 to 2 year old pre owned one with a view to keeping it. So my questions are: 1. What if any are the pit falls of longer term ownership that should deter me from purchase? 2. Would it be better to lease, enjoy and return on the basis that the car would be warranted for the duration?

Hello

I suspect you'll get a few views but the one thing most people here will agree on is that yes the c63 is absolutely worth having before it's too late.

I'll make a few assumptions if I may as I go through my response. Firstly I'm assuming you have a history of new cars via company schemes ? Secondly I'm also assuming you have some degree of business mileage you'll claim for ? Thirdly I'm assuming you'd run it as your primary car ?

The C63 is not a cheap car to run, particularly as you put on the miles. Insurance can be surprisingly cheap and servicing costs are reasonable, fuel and tyres though will cost you a lot, probably a lot more than any other car you've run to date (another assumption I'm afraid). You should be able to find a pch lease at somewhere around £600 - 700 per month I suspect, allow the sane again in running costs depending on mileage.

Set against the cost though the enjoyment the car brings is just fantastic, it really is a very very special car indeed.

My advice would be that if you can make the sums work then go for the new car on a fixed term lease. Whilst there is value to be had in the used space for somebody in your (assumed) position I suspect the fixed costs and ability to hand back make most sense.

Good luck !

 

[Endex]

Hello

I suspect you'll get a few views but the one thing most people here will agree on is that yes the c63 is absolutely worth having before it's too late.

I'll make a few assumptions if I may as I go through my response. Firstly I'm assuming you have a history of new cars via company schemes ? Secondly I'm also assuming you have some degree of business mileage you'll claim for ? Thirdly I'm assuming you'd run it as your primary car ?

The C63 is not a cheap car to run, particularly as you put on the miles. Insurance can be surprisingly cheap and servicing costs are reasonable, fuel and tyres though will cost you a lot, probably a lot more than any other car you've run to date (another assumption I'm afraid). You should be able to find a pch lease at somewhere around £600 - 700 per month I suspect, allow the sane again in running costs depending on mileage.

Set against the cost though the enjoyment the car brings is just fantastic, it really is a very very special car indeed.

My advice would be that if you can make the sums work then go for the new car on a fixed term lease. Whilst there is value to be had in the used space for somebody in your (assumed) position I suspect the fixed costs and ability to hand back make most sense.

Good luck !

Thanks - your assumptions are not far off the mark based on recent history though I can offset usage with our C180. My personal mileage is circa 5k currently and in my current position my business mileage is less than 3k per annum.

This means that I can minimise running costs if I select sensibly and will be well within the 10k minimum mileage allowance for the lease deals. I've looked at a few deals and can get a 3+23 or 6+23 lease for circa £550 - 630 PCM based on a modestly spec'd car which seems the lowest risk option.

Fuel will be a little more expensive than my current M135i but tyres will be on a par as it has Michelin PSS fitted and their longevity isn't great!

I guess the reason for asking the lease versus buy question was to get a view whether people view the cars as long term propositions or short term petrol fuelled highs! I'm sold on the C63 based on the test drive at my local dealer so just need to work out how best to get in one!

 

[steelnads]

Thanks - your assumptions are not far off the mark based on recent history though I can offset usage with our C180. My personal mileage is circa 5k currently and in my current position my business mileage is less than 3k per annum.

This means that I can minimise running costs if I select sensibly and will be well within the 10k minimum mileage allowance for the lease deals. I've looked at a few deals and can get a 3+23 or 6+23 lease for circa £550 - 630 PCM based on a modestly spec'd car which seems the lowest risk option.

Fuel will be a little more expensive than my current M135i but tyres will be on a par as it has Michelin PSS fitted and their longevity isn't great!

I guess the reason for asking the lease versus buy question was to get a view whether people view the cars as long term propositions or short term petrol fuelled highs! I'm sold on the C63 based on the test drive at my local dealer so just need to work out how best to get in one!

Hi This month I purchased a 507 coupe to replace my TVR Griffith 500 which lost very little money over the 17 years I owned it (man maths excludes inflation). I

I decided to purchase rather than lease despite being told by everyone that the 507 residuals will be shocking and it will end in tears compared to the TVR.

There have been a number of 507s on the market while I have been waiting for the beast to arrive (yerr it is mad) and some during that period were advertised as low as 52K. What I have noted in the last few weeks is that all the cars advertised have suddenly sold and there are only 2 currently for sale in the UK and these both have been put up for sale are about 8k higher in price than what they would have been a month or so ago (and substantially more than I paid for mine new). My local main dealer reckons they will go up in value.

My punt is that the 507 edition will depreciate at a lower rate than a standard coupe so perhaps this may be an option to think about.... or it this simply a blip and they will dump value like the rest ?

 

[TJR]

Thanks - your assumptions are not far off the mark based on recent history though I can offset usage with our C180. My personal mileage is circa 5k currently and in my current position my business mileage is less than 3k per annum.

I hate to tell you but this will increase. Once you get one you will want to drive around all the time

 

[mika]

Definitely!
Its never too late for a V8

 

[PenelopePitstop]

My punt is that the 507 edition will depreciate at a lower rate than a standard coupe so perhaps this may be an option to think about.... or it this simply a blip and they will dump value like the rest ?

507 is limited edition and from what I read on forum new ones are almost gone or gone by now. However in 2-3 years lease deals will end and some of them will come back to the market possibly taking value down.

I would go for lease deal but it really depends on the personal preference. I appreciate the car but I don't think I would want to pay for service and maintenance above certain age of the car. Not to mention road tax which went up to £500 per year. I also like changing cars every 2-3 years so lease deals work great for me.

Regarding car spec, almost everything is already there, so it's not neccesarry to add a lot of options.

 

[Endex]

Thanks - your assumptions are not far off the mark based on recent history though I can offset usage with our C180. My personal mileage is circa 5k currently and in my current position my business mileage is less than 3k per annum.

I hate to tell you but this will increase. Once you get one you will want to drive around all the time

Stop teasing!

 

[moff]

Tyres will be more expensive than your 135i - more to do with the camber on the front and the huge torque on the rears.

Fuel is around 40p a mile is the worst part.

My first service was £300 at 12k miles. Brakes were 50% worn on the front and 20% rears. Rear tyres replaced at 7k miles and still on the same fronts at 13k miles but will need changing by 15k.

A 2 year lease will avoid most of the scary stuff eg brake discs. You will have to pay for the second service (£450) before the car goes back though.

Best thing to do for cost is to multiply monthly rate by the term add the deposit and then divide by term to get the total monthly cost. I did a 3+23 for £600 per month @ 10k miles.

 

[miro]

Lease a fleet of Smart cars and rent them out for 20 pounds a day on the condition that you can be picked up and dropped off at any time.