'The White Elephant' or 'The real cost of owning a cheap M3'
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  1. #1
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    e36coupe-328's Avatar
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    'The White Elephant' or 'The real cost of owning a cheap M3'

    This is not really a project thread. I don't think a car in good working order without overhaul or substantial change constitutes a project. Neither is it a build thread, unless people that stick tiles on in their bathroom or hang curtains call it building their house rather than decorating

    So what is this thread? Well due to the general excellence of the LPG 328 workhorse and a change in work pattern / location after January last year the 2 day a week, 106 mile round trip commute I was doing in the M3 a couple of days a week (leaving the 328 at home and burning the good stuff) has evaporated. That means the M3 has been pleasure use only since then and has not earned it's keep. Neither has it covered enough miles to be worth adding LPG to when I am busy running the 328 into the ground. I took the strategic decision the 328 gets maintenance only not improvement.

    To put it into perspective:
    £270 Road Tax
    £790 Insurance
    £55 MOT

    That's £1115 to sit still. £92.91 a month. £21.44 a week. £3.05 a day.
    The car has lasted 19 months so that's counted as spent.

    So the subject of the thread is this:

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    So say you go and buy an M3, does the spending stop there? Maybe it does, maybe it doesn't.

    -jpg

    Bearing in mind the essential spend includes £888 of tyres so otherwise £304.49 and in that there are wiper blades, stretch bolts and other stuff people often skip replacing.

    So there you go, shop around for tyres and only do what you have to and you can have one for less than a tiny bland eurobox.
    As for fuel OBC says about 27.5 mpg and is probably not far wrong.
    Last edited by e36coupe-328; 11-03-2014 at 20:19.
    No warranty of any kind implied or given and no liability for any loss, damage or injury, no matter how incurred accepted.

    LPG Conversion "How to" Guide, Step by Step, Picture by Picture

    Free Gas Kit* now fitted to free 328*
    *Based on ROI period exceeded

  2. The Following 8 Users Say Thank You to e36coupe-328 For This Useful Post:

    Devil (19-05-2014),Ferret (12-03-2014),jrfty (15-03-2014),M3 tim (12-03-2014),Mark@Vorny.co.uk (11-03-2014),NealP (14-03-2014),The Panther (18-03-2014),watty (12-03-2014)

  3. #2
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    Mark@Vorny.co.uk's Avatar
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    Couple that with the fact that a car should always be viewed as a LIABILITY and never an ASSET, then we now have all the facts to get sign off from her indoors for a new car
    summittendo a car nimis,
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  4. #3
    Sometimes the world is still flat, especially if you can't see as far as the horizon
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    e36coupe-328's Avatar
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    Quote Originally Posted by Mark@Vorny.co.uk View Post
    a car should always be viewed as a LIABILITY and never an ASSET
    Absolutely right, people think something you own is an asset, a car is not, anything that takes money out of your pocket is a liability, ,anything that puts money in your pocket is an asset. If you own a car it is a liability, if you rent the same car to someone else and make a profit on that it is an asset
    Note how I deal with the alleged depreciation by mentally writing the cars capital expenditure off after 1 year. The only way a car becomes good value is to sweat the spend for as long as possible, and pile on the miles
    No warranty of any kind implied or given and no liability for any loss, damage or injury, no matter how incurred accepted.

    LPG Conversion "How to" Guide, Step by Step, Picture by Picture

    Free Gas Kit* now fitted to free 328*
    *Based on ROI period exceeded

  5. The Following 2 Users Say Thank You to e36coupe-328 For This Useful Post:

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  6. #4
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    Horico's Avatar
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    I might do something like that for mine but hide it from the mrs......

  7. #5
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    If you worry about the costs why bother having it ?
    And your insurance is very steep, do you live somewhere dodgy or are you a liability !

  8. #6
    Sometimes the world is still flat, especially if you can't see as far as the horizon
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    e36coupe-328's Avatar
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    Quote Originally Posted by Horico View Post
    I might do something like that for mine but hide it from the mrs......
    My wife gets that I was a petrol head when she met me and always will be. As long as it doesn't run us into the ground I can drive what I want, and I wouldn't over-extend for a car.

    Quote Originally Posted by Plumb View Post
    If you worry about the costs why bother having it ?
    Who worries? I don't. Knowing where your money is going is another thing.
    Quote Originally Posted by Plumb View Post
    And your insurance is very steep, do you live somewhere dodgy or are you a liability !
    Lol you're worrying about my insurance premium now?
    It's not on restricted mileage with business insurance and 2 years NCD on that policy
    No warranty of any kind implied or given and no liability for any loss, damage or injury, no matter how incurred accepted.

    LPG Conversion "How to" Guide, Step by Step, Picture by Picture

    Free Gas Kit* now fitted to free 328*
    *Based on ROI period exceeded

  9. #7
    Got that WMD right here.
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    cforehead's Avatar
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    Seems quite reasonable cost-wise. I agree on the insurance - that's biiiiiig money unless you're 21 or something, which I don't believe you are
    2006 E91 330i M Sport click
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  10. #8
    Sometimes the world is still flat, especially if you can't see as far as the horizon
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    e36coupe-328's Avatar
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    Quote Originally Posted by cforehead View Post
    that's biiiiiig money unless you're 21 or something, which I don't believe you are
    Hmm I don't think so. Not the best postcode around here. Having the tracker re-activated would take £10 off! but as above that is with 2 years NCD running up a discount from scratch on a the car.
    Either way, paid in full so not bothered until next year and bearing in mind the 19 year old 328 with business cover is £450 the last year and £550 year before it's going the right direction.
    Moving up here from Cheshire put £200 on the Manta insurance a decade ago.
    This Car Insurance Postcode Groups - Postcode as rated by Car Insurers says E*
    That said Crewe is overall better than Chester!

    Look on it as a plus for anyone finding the £3.05 a day extortionate, or put it another way, put £3.05 a day in a jar and by year end there's more than enough for anyone with cheaper insurance to pay the years overheads.
    No warranty of any kind implied or given and no liability for any loss, damage or injury, no matter how incurred accepted.

    LPG Conversion "How to" Guide, Step by Step, Picture by Picture

    Free Gas Kit* now fitted to free 328*
    *Based on ROI period exceeded

  11. The Following 3 Users Say Thank You to e36coupe-328 For This Useful Post:

    Devil (20-05-2014),Mark@Vorny.co.uk (12-03-2014),watty (14-03-2014)

  12. #9
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    Mine is F* on that list.

    When I checked quotes on an M3/M5 last year I was looking at 3-5 grand with almost a grand excess lol. Insurance without a doubt would be the biggest outlay on an M3 for me. I'm paying £800 on the Touring...

    That's at 28, 5 years ncb and a clean licence by the way.
    Last edited by Mark_J; 12-03-2014 at 20:26.

  13. #10
    Got that WMD right here.
    BFI God you need to get out more!
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    This is clearly the difference, we're A.
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