Warranty made me do it M5 Gone Just bought a 996 Cab

[gibo993]

Because of the Outrageous Warranty changes I have now sold my fantastic M5 and have this weekend bought a 2000 Porsche 996 Cab, having a 111 point check completed and then a nice £750 Porsche Warranty with no excess.

So BMW you can stick your M powered cars up yer tail pipe.

(However much I loved them)

[rob05]

After having five porsches four boxsters and a 911 i find myself going the other way and pick up my m3 in two days time.I needed a car with a decent boot and that could fit four with some degree of comfort,and of course the performance.
Just a few pointers for you:
The porsche forum here is fantastic and a great crack,i'm sure you'l love it,the downside to ownership is the dealers and build quality of the cars which in my experience i have found to be crap.
And yes the warranty make sure you have one cos without it,its hope and pray time!
I wont be going back to porsche till they start to make cars that dont blow up or drop to bits after 20k,apart from that enjoy.

[gibo993]

Welcome to the World of M powered cars sounds very similar. (Except the leather seats last longer in the M world)

I think the interent raises hype and hysteria and I enter my Porsche ownership with my eyes open wide, all Hi performance cars go wrong at some point. Porsches and BM's are the best at being useable everyday. look at the rest Massers Ferraris Lambos' Astons I know most of these are more exotic than your average Porche or M5 but a clutch every 5000 miles!! now then you would have reason to moan!

Hope you enjoy the M3 they are great but watch out for that Vanos..........

[derin100]

Wouldn't worry about the VANOS...the cost of that will pale into insignificance against the depreciation!

I came very close to buying an E46 M3 two years ago from a main dealer. The car was one year old (so a 2003 car if my arithmetic is correct?)...had 9000 miles on the clock and was just under £40K at the time. How much is a 2003 M3 with decent mileage now? About £25K? So that's about £15K I would have lost in the last 2 years? That's precipitous depreciation AND that was before the 'warranty issue' kicked in and people started off-loading M3's and M5's like hot-cakes before their warranties expired!

So that would have been approx. £625/month 'lost' predictably every month.

Hmmm...£15K buys a lot of VANOSes...(or should that be VANAE?...or VANII?...or VANOSAE?...wish I'd paid more attention in Latin at school!)

My point is...if I were you and had now decided to buy an M3 the cost of paying for a broken VANOS wouldn't be at the top of my list of cash-haemorrhaging worries.

So now I can by the same car for £25K...but pay £1800/year for a warranty (with all of its clauses, exclusions and excesses)...on a car that given another two years will probably struggle to reach £15K (generous given what's happening to prices already, before the effect of the new M3 hits this time next plus has a further year to 'establish' itself...and then look at the literally hundreds of E46 M3s up for sale even as we speak!). I don't think it is unrealistic that we'll commonly see E46 M3s of circa 2003 up for sale at or below £15K?

So, let's say £3600 for the warranty for 2 years (hoping nothing goes wrong that will be excluded from the warranty...we'll even disregard the £250 excess I might have to pay on any claims in those two years!. Add to that the conservative £10K depreciation over the next two years...

Hmmm...so far that makes £13,600 I stand to lose over the next 2 years...and I haven't even turned a wheel yet...let alone insure, tax, pay for 'consumables' etc etc

Hmmm...I'd love one...but I don't think I'm prepared to shoulder that kind of predictable and irretreivable loss...pity!

Ditto E39 M5!

[Smartie]

i think £15K for an 2002/03 is a bit pessimistic! Very nice E36's are still fetching £10k+!

[derin100]

Ok...£15K may be a bit pessimistic but with something like this on a 2002 already at £16999:

http://atsearch.autotrader.co.uk/WWW/

Ok...it's a bit 'leggy' and we don't know what the spec is etc...but give a 2003 car another couple of years, add in the mix of the effect a 'new' M3 arriving on the scene, the 'warranty effect' and the fact that there will be so many on the market to choose from...then £15K doesn't really sound that outlandishly off the mark?

Remember what happened to E36 M3 prices once the E46 M3 had been available for a couple of years? Suddenly, any remotely run-of-the-mill E36 M3 would struggle to sell at above £15K?...There was next to nothing bridging the price gap between a really good £15K E36 EVO and £30K-plus on an E46 i.e little or no middle ground.

I doubt the effect on the E46 M3 will be any less profound for the reasons cited above.

I'll still probably risk one one-day

>> Edited by derin100 on Monday 15th May 21:44

[rob05]

Its really the condition and spec that is the key to used values on these cars and not the price,anyway time will tell.

[tuscaholic]

After reading all this I sold my e39 m5 just under 83000 miles and I enjoyed it so much im going to buy another...

Every car you buy is going to to have deppreciation and problems, just hope you buy a good car in the first place and enjoy it..

You only live once :O)

Clive

[gibo993]

fully agree but after 2 1/2 years it was time to move on. and BMW forced my hand by pushing up the costs and not seeming to care about loyal customers.

Suppose Porsche are no better but I fancied a change, too many cars to little time not enough cash