In five years time you'll have an eight year old car with 200,000 miles on it so I don't think the residual values will be much to get excited about. If the BMW is worth a bit more you'll have paid more to own it in servicing and repairs wiping out any advantage there. Unless you much prefer the Mondeo, I'd go for the BMW because in certain situations image does count and it's not as if you're turning up at clients in a brand new £40,000 535D which gives out the "high fees alert" message. Anyone who knows about cars will see you've made a sensible decision to let someone else suffer the first 3 years depreciation on their P&L and if they don't, you can advise them accordingly and charge them for it ;-)
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I'm very suprised these two cars cost the same but if they truely do there is no question, the 525d wins hands down.
However, I would have thought that like for like the Mondeo would be several thousand pounds cheaper, making the decision a little more difficult. But, should I have the funds for it, a 2002 525d would be more choice.
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I was going to say the same. Surely there'd be a huge price difference between the two?
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Adam
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I doubt that they cost the same to buy, indeed the question does ask what the likely cost would be.
BUT it is possible that the ownership cost will be similar, after depreciation on two or three years of ownership.
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Sorry for not making it clear in the original post. Would you kindly estimate how much I would have to pay for these cars in mid-Dec?
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Historically, you'll have the prices at their lowest, from November. What you WON'T have, when you're thinking of buying, is much of a selection.
Most de-fleeting, would have already taken place - you'll be looking at leftovers & re-runs (so ask yourself, why haven't they sold!!)
You'll have better selection 3 weeks into January, but that's when dealers should consider re-stocking, 'cos Christmas & holiday period is gone & customers should venture onto the forecourt.
So to answer your Q, maybe a drop in 'book' values of £150 - £200from October - November.
VB
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I wished I can buy in Oct-Nov but I can't. My exam result will not be out until 16-Dec and it is too much of a gamble spend money before then. Plus I am hoping to buy a flat in London too and the flat is priority. My guess is the Mondeo to be around £4k and the BMW to be around £8k.
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I would estimate your guess to be well out. As of now, you cannot buy a decent TDCi for under £5k and thats for a 2001 LX. A good, 2002 TDCi Ghia X will command a price of about £6-7k - it's not going to drop £2-3k in 4 months.
As for the BMW, £8k for a 2002 525d? Again, you'll be lucky. One of those, now, with 100k is about £10-12k. It's not going to shed a bundle between now and December.
As a student myself thouhg I'm struggling to understand the links between timing your car purchase and your exam results, though.
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If he passes, he'll walk into a job which pays loads of dosh or get promoted or something.
That's how I read it anyway.
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Adam
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Adam is right, if I pass and stay with the same firm, immediate salary increase of 50%, then another increase of 20% in 9 months time. If I leave, I may get more. If I do not pass, I do not get the raise!
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>>I am purely looking at the fuel economy and the residual value.>>
With all due respects if you are looking at the residual value you shouldn't be looking at a Mondeo, fine car though it is...:-)
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What\'s for you won\'t pass you by
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I have now test driven all the medium and large saloons available in the year 2002 (in both petrol and diesel) and for FWD, I have chosen a Mondeo and for RWD, a 5-Series. Also, they are very cheap at 3-year-old with the petrol engined. Not sure about the diesel ones though.
I am looking for the petrol Mondeo (not the TDCi) and the diesel 525d.
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Having just done the maths, the 525d does not seem to add up!
Assumption:
for 100,000 miles
525d auto: 34mpg = 2941 gallons @ 93.9p per litre
525i auto: 26mpg = 3846 gallons @ 90.0p per litre
Extra cost for the petrol is:
3,845 x 4.546 x 0.909 - 2,941 x 4.546 x 0.939 = £3,339
If the 525d auto cost more than £3,339 to buy than a 525i auto, there is no fuel saving. The residual value would not be much different between a 525d and 525i at 200k. If I drive less than 100,000 miles, the diesel saving will be even less!!!
Also, diesel will have higher maintenance because at least one turbo would have to be replaced before 200,000 miles.
Is there any other factor I should consider? Should I be looking for a 525i instead?
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You did say TDCi in you opening post?
I have had a 2002 TDCi Ghia X from new, now 95k miles and I can highly recomend it, might even be open to offers later this year! If you want a 2002 ish a 3 Compact could be good value, I would not consider a 525d though perhaps a 530d at the right price, how about a 320d or 330d or facelift 318i (2.0) or 320i (2.2)?
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Yes, I did say TDCi in the opening post but Michael stated there is no way I can get it for £4-5k and I am not in a position to pay more than £5k for a Mondeo.
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My girlfriend's brother-in-law has a 2001 320iSE auto and I have tried and dismissed a 3-series because the boot cannot take my set of golf clubs and not enough space for my 3-4 ski trips a year to the Alps. A Mondeo hatchback or a 5-series's boot seemed to be much more commodious.
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You'll get more than 36mpg out of a 525d - we regularly see 40mpg from the 530d.
A facelift 525i though will be quite a bit cheaper. You'd get a petrol Mk3 Ghia X Mondeo for under £5k though, its just the diesels have better residuals - residuals are a two edged sword - on the one hand you get more when you sell it, but becuase of that, it'll cost more to buy!
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Is yours a manual? I borrowed a 525d auto for a weekend and I averaged 26mpg around town and 34mpg overall.
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Eh? Your opening post specifically referred to a Mondeo TDCI?
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Espada III - well if you have a family and need a Lamborghini, what else do you drive?
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Yes, I did say TDCi in the opening post but Michael stated there is no way I can get it for £4-5k and I am not in a position to pay more than £5k for a Mondeo.
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