BMW M5 Forum and M6 Forums banner

1 - 20 of 31 Posts

·
Registered
Joined
·
627 Posts
Discussion Starter · #1 ·
see attachment... you can calc the tru cost of ownership! M are expensive toys! i could be driving a new one for same price at end of the year!
Happy New Years guys!
 

Attachments

·
Registered
Joined
·
723 Posts
wow, your maintenance costs are killing you. $800 for changing plugs & belts??? I don't nearly spend $1K/year in maintenance including oil, tires, etc by doing it all myself.
 

·
Registered
Joined
·
2,078 Posts
see attachment... you can calc the tru cost of ownership! M are expensive toys! i could be driving a new one for same price at end of the year!
Happy New Years guys!
Interesting...

They aren't cheap, but I don't think it is "fair" to consider loan payments and "car washes" part of the cost!

FWIW, I own my car, so no payments. Do your own car washes...part of the fun IMHO (I generally don't let anyone else do my washes because I know they won't pay the same attention to detail that I do) and save your self $250/yr.

Do a lot of your own maintenance (or find a less expensive indy)...save a bundle.

Fun to ponder tho

Brian
 

·
Registered
Joined
·
2,078 Posts
This (I think) assumes that you pay someone else to do the work on the car. My maintenance is roughly 2500/yr...including buying 4 275 width PS2's.
+1
 

·
Registered
Joined
·
2,878 Posts
I think the proper way to look at it would be the +'plus' factor - - meaning - cost of a car, insurance, gas, and normal wear and tear (tires/brakes etc) will be there even if you drive a Prius, so the accurate representation/comparison of this car over a normal one would be the +plus/EXTRA amounts of this car over your normal car...

Personnaly I don't understand the exercise, for sure this car will cost and extra 2k on average annually...

So don't even waste brain cells thinking about it, instead, plan those spring mods/adjustments/repairs and then the driving/trips/events that make it all worth it :cheers:
 

·
Registered
Joined
·
1,472 Posts
I'm going to guess I've spent about $12,000 over 4+ years of ownership. So about $3,000/year which seems about in line with other do-it-yourself'ers. Suspension, clutch/flywheel, tires and brakes, in that order, were the largest and most expensive items. Now if I included all the warranty work I griped about to make the car perfect then add another $6K. And Mark, your right. The vast majority of this is normal wear and tear. Every part for a BMW is more expensive than a Toyota, so the true 'plus' factor is most likely less than $1,000 per year.
 

·
Registered
Joined
·
627 Posts
Discussion Starter · #8 ·
to figure the true cost per mile I would have to included payments (if anyone owns car outright, high five.. but i'm not there)
i did this bc i can compare that to say an $800/mo payment and $0 maintaince for a newer 550i ... in the end of the year I save money with the 550i
doing the work myself, not a car guy... some of records are abbreviated... some work done at BMW = rip off, other done by a mechanic who charges 1/2 of BMW
car wash-- fine, take out the $250 , thats doesn't effect the bottom line anyways
 

·
In Memoriam
Joined
·
4,624 Posts
... Do your own car washes...part of the fun IMHO (I generally don't let anyone else do my washes because I know they won't pay the same attention to detail that I do) and save your self $250/yr.

Brian
It's not the car wash attention to detail that scares me. It's when they drop the drying cloth (happened to me on different car ... well, my Wife, actually). You should NEVER use a cloth (wet or dry) that has been on the ground (without washing) ... otherwise, you may wind up with surface scratches from small rocks picked up on the cloth.
 

·
Registered
Joined
·
6,520 Posts
Total Cost of ownership is a fairly common measure and is = (starting price - current price) + maintenance (any non accident related repairs not covered by warranty) + gas.

By definition an M5 will have higher ownership cost than most vehicles simply because of the depreciation drop. Whether you own your car outright, lease, etc is irrelevant - the equation normalizes by simple using depreciation which takes your credit score, etc out of the equation. Also, for a true apples to apples comparison you must use book values for repairs, not the amount it costs to DIY unless you can also find comparable repair costs for the comparator vehicle.

d-
 

·
Registered
Joined
·
929 Posts
Total Cost of ownership is a fairly common measure and is = (starting price - current price) + maintenance (any non accident related repairs not covered by warranty) + gas.

By definition an M5 will have higher ownership cost than most vehicles simply because of the depreciation drop. Whether you own your car outright, lease, etc is irrelevant - the equation normalizes by simple using depreciation which takes your credit score, etc out of the equation. Also, for a true apples to apples comparison you must use book values for repairs, not the amount it costs to DIY unless you can also find comparable repair costs for the comparator vehicle.

d-
Insurance can be an issue too. It is normal in UK to be compelled to have a tracker fitted before you qualify for cover and the premiums are loaded, especially for younger drivers.
 

·
Registered
Joined
·
6,520 Posts
Insurance can be an issue too. It is normal in UK to be compelled to have a tracker fitted before you qualify for cover and the premiums are loaded, especially for younger drivers.
Good point. Insurance is a huge variable, but since insurance premiums are more dependent on your driving record than the car you drive it is nearly impossible to present a "cost of ownership" number for a vehicle that includes anything other than an "average". With that said, any individual should clearly include it when doing their own comparison since it can make a big difference.

d-
 

·
Registered
2002 BMW M5 E39 Dinan
Joined
·
2,249 Posts
I did math earlier .. for hours w/ everything included that would have to be replaced from 50,000 miles all way up to 180,000 miles in 3 years (which means i'd drive around 35k miles / year.

That meant

Radiator
CPS
MAFs
Tires
Belts
O2 Sensor
Hoses

The list was much longer, everything that everyone complained about +2000 extra, Vanos excluded.

But i calculated the car costs 7 dollars per hour including payment / depreciation / maintenance...excluding gas / insurance.
The speed @ 7 USD / hour was around 40 mph which i used because my nav will always end up @ average speed 38 mph.
Or it was around 23 cents / mile ... gas / insurance not included.
 

·
Registered
Joined
·
12,990 Posts
to figure the true cost per mile I would have to included payments (if anyone owns car outright, high five.. but i'm not there)
i did this bc i can compare that to say an $800/mo payment and $0 maintaince for a newer 550i ... in the end of the year I save money with the 550i
This is really a cash flow analysis, not a cost analysis.

If you buy a car (payments or not) you have a residual value at the end of your payoff. So compare say a 3 year loan to a 3 year lease. At the end of the lease you have nothing, at the end of 3 year payoff you have a car with "x" value. You have to subtract that from your "cost' because you can sell it and offset the front end expenses of paying for the entire car up front.

Cash flow will almost always be better on a lease than a buy (unless you put a chunk down, but then we have to talk about opportunity cost of not having the cash), since in a lease you are paying principal and interest on the depreciation, but interest only on the residual, which you return when you bring the car back at the end of a lease.

But in a buy you are paying principal and interest on the depreciation and the residual value (which you keep), so the cash flow has to be higher.
Regards,
Jerry
 
  • Like
Reactions: M55555

·
Registered
Joined
·
135 Posts

·
Registered
Joined
·
2,325 Posts

·
Registered
Joined
·
901 Posts
GEEZZZZ

Even when I had to accountable for expenses and such when I was freelancing in the Film industry I never had a spread sheet such as I have seen here in this thread.I had a box and when it came time I would turn over said box and put the information on the particular envelope that the particular company would supply.
Today I still use the same method,a box.The one for my taxes I look at in February and hand them to the accountants.The ones on the car I leave in the box just in case my wife should ever see what I actually have in this car in my garage.I would like to stay married....
Oh yeah the car is insured for what I have in it not what the car is worth by the blue book.That alone costs $$$$$ ,then I get about 10 miles to the gallon of fossil fuel and then those PS2s do cost ,etc.,etc....
No one ever said having a hobby was going to be cheap....
 
1 - 20 of 31 Posts
Top