Absolutely but it would always be in the back of my mind that such bills on these cars are possible. I’d have to remortgage my house if this happened to me plus the stress of the cost of repairs etc etc. As said, the OP may have been very very unlucky but is it a chance worth taking?
I’d love a C63 but my budget is around £18k should I decided I sell my M135i and buy one...
I'm not telling you anything you don't know here of course but this is just my take on it.
I think under the circumstances you highlight - it doesn't make sense. The potential stress and anxiety of the situation outweighs any enjoyment or benefit. I would never stretch myself to buy a car that can literally kill your finances in a heartbeat in that situation.
I've taken on a mortgage previously which meant we didn't have a pot to piss in at the end of each month and I had a £900 Mundano for 2 years as a result to save money and would not have had anything remotely interesting.
When I bought my E55K, I had concerns about what if it died but I took a gamble, paid over book and bought one in the best shape I could find as this was the most I could do.
As I tell many people I help to buy cars, history and condition are half the battle and the rest is luck!
I decided that if the worst happened and I had to throw away a £20k car, I'd get some money back selling it knackered, I'd stump up for whatever repairs or just break it.
You have to be prepared for this worse-case scenario and I was prepared to lose £20k (in that case) for the enjoyment I knew it would give me - that is your absolute maximum liability.
If the worst happened, I'd then buy something cheap and run around in it until I felt the balance was restored and / or I could afford something else I wanted.
It was always in the very back of my mind the car might pop with my E55 and I even modified it!
In the end, I was lucky albeit I sorted anything that needed doing straight away and had the car for so long that I couldn't give a flying if it died because I got so much enjoyment out of it in hindsight.
As time went on, the easier it was to cope should the worst happen but I never really thought about it after a short initial period and just got on with enjoying it - that's what it is for after all.
I think a big part of it is the value of the car in question - as had been the case for Dennis. He would lose similar money either way annoyingly.
As mine slowly dropped towards £10k, this meant any catastrophic failure was not the end of the world, even though 10 big ones is a lot of money to throw away.
But at the end of the day, cars are my hobby and I would have one anyway which mitigates some of the cost.
I also consider that others spend money on smoking, drinking, gambling, sports, material possessions (watches, designer clothing, model train sets etc. etc.) - of which I only do the occasional drinking (a pint or two a week!).
Some one I work with spends £3k a year on smoking. What has he got to show for that apart from an increased risk of cancer, stroke and an early death? After three years, I could throw my £10k car in the bin and break even with that guy - who also has a car and motorbike.
Now I have a penchant for big £100k Mercs which I buy second hand a lot further down the line. Once the dealer warranty runs out, I rely on my trusted inde to keep costs down and ensure I have a reasonable slush fund - another thing which I think is key. I've suggested £10k on here before but many highlighted how ridiculous it was. However, if you did have a £10k fund, it makes a £12k bill much easier to deal with!
If the absolute worst happened, I'd be in the same boat as Dennis but I would similarly reconsider my future car purchases should I lose too much on these.
But then again, I feel the risk is quite low given what I've seen / heard / read over the years and I feel it is worth it.
