M2/M3 PCP etc

[Belle427]

We are thinking of shaving our 3 cars down next year, selling all 3 would raise approx £30k.
We then intend to buy something tasty, and would need a second family run around hack for around £5k.
Monthlies wise I wouldn’t want to spend more than £500 on the car if we did PCP.
The tasty car ideally would be one of the above and I just wondered which way others would go personally.
PCP deals on an M2 comp with a reasonable deposit seem very good, you also get a brand new car you know is perfect and hasn’t been abused for slightly more each month.
Sensible heads would probably buy the car with the cash outright.
Just wondered has anyone had this dilemma?

[nickfrog]

I would spend the £5k on the family run around and try to stretch to an AUC M2 (but not on PCP), which are currently £30k but may well drop in value in the weeks to come.

[Belle427]

Probably makes more sense, this will be in a year's time so values may have dropped slightly too.
I do favour the M2 slightly.

Edited by Belle427 on Saturday 31st October 12:35

[Don Phil]

There won't be tasty PCP deals on m2 comp next year as they've just stopped production.

We looked at PCP but plumped for buying an AUC M2 LCI. Figured we would spend less overall by quite some margain rather than going PCP route again. I've not driven the M2 comp so can't say if it's worth the extra over the M2 or not.

[Shanksy87]

In your shoes I would be looking at a 2-3 year old approved used M2 LCI. As mentioned above, the M2 Comp stopped production at the end of September, any cars left are likely to be of questionable spec and its been mentioned the peak discounts seen last month have started drying up quickly. Rather than dealing with this and the depreciation I would suggest the LCI as a strong option. Happy hunting

[Fokker]

I bought a manual pre lci m2 from a bmw dealer earlier this year during the first lockdown. One owner 25k miles with HK for £27k. 3k off asking price.

I think it’s an utter bargain. Not sure the Comp is 10k - £15k better?
The dealers want to sell stock so see what discounts you can achieve when you’re ready.

[Belle427]

Fokker said:

I bought a manual pre lci m2 from a bmw dealer earlier this year during the first lockdown. One owner 25k miles with HK for £27k. 3k off asking price.

I think it’s an utter bargain. Not sure the Comp is 10k - £15k better?
The dealers want to sell stock so see what discounts you can achieve when you’re ready.

Sounds like a bargain.

[Belle427]

Just wondered how many choose the manual option.
I do get the driver involvement thing and it does suit the car but modern life and busy roads I do fancy going auto.

[nickfrog]

Belle427 said:

Just wondered how many choose the manual option.
I do get the driver involvement thing and it does suit the car but modern life and busy roads I do fancy going auto.

20% to 25% for the original M2.

I would have been happy with either and just ended up with a manual because the right car came along irrespective of box.

But you're right, in traffic auto makes sense although the engine is so flexible that you don't need to change gear that often...

Edited by nickfrog on Monday 9th November 12:03