And my friend has always serviced the car at the BMW dealership! If he went to a good independent mechanic or was able to work on it himself he would have saved even more mpney.
I'm so glad there are still people out there that buy new fully loaded cars just to hand them over to me 3 to 4 years later for half the price. Thank you from the bottom of my heart 😊 Topic for a new video: What are you considering/test driving to replace the GTR?
>I'm so glad there are still people out there that buy new fully loaded cars just to hand them over to me 3 to 4 years later for half the price. Please show me these cars, most cars are still holding 80% of their value after 4 years these days here in the US. Some models virtually don't depreciate like full sized trucks
@@fireteam_ @Fireteam search for a bit older, like 8 to 10 yo, a guy here got a bimie 650 grand coupé or something fully loaded and relatively low mileage for peanuts, like ~15k€, fully serviced by bimie + new tyres too. not really a bimie fan but that's a lot of car for the price and it still looks good and modern. not sure how it is on the US market as the last time i bought a car there was around 1995 or so. 😽
@@fireteam_ It makes absolutely no sense unless new cars are extremely rare. If used cars are that expensive people would just buy new, which would then create a large supply of new vehicles that would then cause lower prices.
@@imnotusingmyrealname4566 I’m not sure if you’ve seen it, but there’s a supply chain crisis going on? There’s a reason why people aren’t buying new…they can’t, or if they do it has markups.
Talking about which of the two BMWs makes more sense financially is like discussing which medieval torture device is better: the iron maiden or the brazen bull.
It would have been interesting to include a 3-year-old equivalent BMW Premium Selection car in the comparison. We car enthusiasts mostly do not skimp when it comes to our cars. TCO will be what it will be, at least when you have found the perfect car.
100% agree and good to see clear figures. I do the same and bought a used car for this exact reason. Hard to justify all that depreciation plus the fact I only drive about 5k km a year. My cost per km for a new car will be horrendous....
On such an old (2007) and cheap car I don't take comprehensive insurance, so insurance is much cheaper for an older used car. Also I DIY all my cars and annual repairs and maintenace average a few hundred typically, not thousands. Much, much, much cheaper to buy an old, low mileage used car + keep for 10 to 15 years than buying new.
I had a hard time understanding how you could be paying 1/3 of the cars value in insurance. Also approximately €6000/year seems high for a 15 year old car.
Who buys a diesel bmw new and drives it less than 10k km a year? Yes buying an old used one make sense with such low mileage but as mileage goes more up, the service bills will going up as well while depreciation wont as it is more connected with age
Cost reduction 1: keep the new car, don't sell it at 5 years. Sell it at 150,000 kms when everything starts to wear out. Cost reduction 2: buy at 3 years / 40,000 kms. Sell at 150 kkm as before. Cost reduction 3: keep the car forever.
"Ciao, I´m Mario - a Swiss Excel Sheet Guy on CZcams.. " 😃 jokes aside: very good comparison and well explained too. Do I want to know how many hours of research and calculating went into this? 😅
I actually did the whole thing in a few hours. I already had the figures for the old car and only needed to redearch/add the different scenarios for the new car. That said, I really hate new car configurators. Now I understand why people still go to dealerships to order new cars. 😑
@@swisscarguy still, putting in these hours is work too. True, some configurators can be annoying. But there are some really beautiful ones to enjoy aswell. What bothers me most, is that sometimes you choose everything you want and then you come to interior trim - there are all these options but when you select them it requires you to change practically everything you picked before so you can have that specific steering wheel :D it is ridiculous at times.
Brilliant. It is well known thing that cars list 50% of value in 5 years. Sometimes even in 3. So from financial point it is better to buy slightly used one, than a brand new. But if you WANT a new car, and CAN buy it, you should do it. Because you have only one life and you won't take your money in a grave.
Thank you. As usual, fairly interesting. And you have a point. As long as I can keep my 2004 V10 Phaeton running, we will use it for long distance travel. The alternative would be some vehicle starting at 125 Grand or some figure, and as my wife always says, that's a third of a decent house. But I will also be honest, I would pay that amount for a Hummer EV. Any suggestions from my side for future videos? I really would love for you to get a little dirty with vehicles sometimes. You always seem to pay for everything. I figure it's not your thing or you lack space and equipment or whatever, but it would still be interesting I am sure. Besides that, you are a numbers guy, nothing wrong with that. The Swiss Car Numbers Guy. I will keep watching whatever direction you take. What other swiss person do we have? Unless a pretty girl with similar brains and compassion gives you a run for your money from Lausanne, we are stuck with you. Ain't that the truth.
Nice video. I would however be inclined to think that buying one of those 5yo models (G31) would be only marginally more expensive than the 2 gen old and beaten E61 that your friend is driving. What do you think? BTW if you add the fact that most people drive (a lot) more then 8k km/y, buying a new car becomes an even worse idea.
I guess individual cases may vary dramatically too? For example safety tech in old cars may create more risk of self-injury which may hugely add to cost such as lost job income. And less reliability in old cars plus parts availability difficulty may require leasing a second car
@@kittytrailConsumer Reports calculate fatality risk for 4-7 year old cars as 10% worse, 8-11 years as 19% worse going to 71% worse for 18 year old cars.
@@DeeSock depends mostly on level of maintenance. an unmaintained shitbox is a death trap. a well cared for less so, and you'll probably drive it in a safer way too. beside that's probably a US-centric stat so does not apply here. 🥱
Hey Mario, Another great TCO video. Cars keep you POOR. Best option don’t buy a German built car. You never need a BWM (Bayerische Mist Wagen), new or used. He should have bought a used Toyota or Lexus. Boring to drive but not boring on the hip pocket. How is the LS600 going??
The LS is actually starting to act up a bit. ACC and PCS occasionally giving error messages and randomly the car gets confused ("Moon roof open" displayed when it should actually say "headlights on" opening the driver's door after shutting the car off. 🤷🏻♂️ Haven't diagnosed, yet. Maybe a contact problem or a dying battery? 🤔
The EV will also cost insurance and the tax credits will run out at some point. Electricity isn't completely free, either. The difference will mostly be the fuel, so it's more along the lines of 5k in total savings.
@@swisscarguy Drive a Tesla at ~200Wh/km for 40000km with 0,2€/kWh and ~15% loss = 200Wh/km is about 2k€. Calc for Google/Wolframalpha: 40000km*200Wh/km*0,2€/kWh*1,15 in eur In addition you are not polluting your neighborhood and your kids with at least NOx - fortunately post 2005 diesel car DPFs are not that bad in working condition.
@@rkan2 but one has to drive a Tesla... If compared between new ICEv and new EV, yes it might make sense to go EV for lower running costs. But a used car has the massive advantage of not suffering crazy depreciation. Conclusion: cost wise, it makes sense to buy new an i40 vs a 340m. However, not so much if comparing against a used 3 series at half or less purchase cost. Important consideration, one has to have access to cheap charging to make full savings and use case must support owning an EV.
@@TsLeng Absolutely - capital costs trump used cars basically everytime when you are comparing the same class of cars. When it comes to new cars though..
And my friend has always serviced the car at the BMW dealership! If he went to a good independent mechanic or was able to work on it himself he would have saved even more mpney.
I'm so glad there are still people out there that buy new fully loaded cars just to hand them over to me 3 to 4 years later for half the price. Thank you from the bottom of my heart 😊
Topic for a new video: What are you considering/test driving to replace the GTR?
>I'm so glad there are still people out there that buy new fully loaded cars just to hand them over to me 3 to 4 years later for half the price.
Please show me these cars, most cars are still holding 80% of their value after 4 years these days here in the US. Some models virtually don't depreciate like full sized trucks
@@fireteam_ @Fireteam search for a bit older, like 8 to 10 yo, a guy here got a bimie 650 grand coupé or something fully loaded and relatively low mileage for peanuts, like ~15k€, fully serviced by bimie + new tyres too.
not really a bimie fan but that's a lot of car for the price and it still looks good and modern. not sure how it is on the US market as the last time i bought a car there was around 1995 or so. 😽
@@fireteam_ It makes absolutely no sense unless new cars are extremely rare. If used cars are that expensive people would just buy new, which would then create a large supply of new vehicles that would then cause lower prices.
@@imnotusingmyrealname4566 I’m not sure if you’ve seen it, but there’s a supply chain crisis going on? There’s a reason why people aren’t buying new…they can’t, or if they do it has markups.
Talking about which of the two BMWs makes more sense financially is like discussing which medieval torture device is better: the iron maiden or the brazen bull.
It would have been interesting to include a 3-year-old equivalent BMW Premium Selection car in the comparison.
We car enthusiasts mostly do not skimp when it comes to our cars. TCO will be what it will be, at least when you have found the perfect car.
Yes, I think that would be the most reasonable option, 2 year old car with 2 years of warranty still left. Would be nice to see that calculation.
In many high tax countries it is often worth it to diy your cars :P Even if it takes many times longer!
That's why Swiss are rich 🙂
A brilliant explanation Mario. Thanks for all the research for this video. I think buying used is the way to go next time :-)
100% agree and good to see clear figures. I do the same and bought a used car for this exact reason.
Hard to justify all that depreciation plus the fact I only drive about 5k km a year. My cost per km for a new car will be horrendous....
On such an old (2007) and cheap car I don't take comprehensive insurance, so insurance is much cheaper for an older used car. Also I DIY all my cars and annual repairs and maintenace average a few hundred typically, not thousands. Much, much, much cheaper to buy an old, low mileage used car + keep for 10 to 15 years than buying new.
I had a hard time understanding how you could be paying 1/3 of the cars value in insurance. Also approximately €6000/year seems high for a 15 year old car.
I wonder how the numbers compare on more reliable models.
Maybe compare your Lexus to a new one?
I am really interested in Prius now :) or CT200h
Maybe better comparision to old 5 series would be new 3 series
Who buys a diesel bmw new and drives it less than 10k km a year? Yes buying an old used one make sense with such low mileage but as mileage goes more up, the service bills will going up as well while depreciation wont as it is more connected with age
Cost reduction 1: keep the new car, don't sell it at 5 years. Sell it at 150,000 kms when everything starts to wear out.
Cost reduction 2: buy at 3 years / 40,000 kms. Sell at 150 kkm as before.
Cost reduction 3: keep the car forever.
Like your proposals.
Monteverdi when do Mario? 😏
"Ciao, I´m Mario - a Swiss Excel Sheet Guy on CZcams.. " 😃 jokes aside: very good comparison and well explained too. Do I want to know how many hours of research and calculating went into this? 😅
I actually did the whole thing in a few hours. I already had the figures for the old car and only needed to redearch/add the different scenarios for the new car.
That said, I really hate new car configurators. Now I understand why people still go to dealerships to order new cars. 😑
@@swisscarguy still, putting in these hours is work too.
True, some configurators can be annoying. But there are some really beautiful ones to enjoy aswell. What bothers me most, is that sometimes you choose everything you want and then you come to interior trim - there are all these options but when you select them it requires you to change practically everything you picked before so you can have that specific steering wheel :D it is ridiculous at times.
Brilliant. It is well known thing that cars list 50% of value in 5 years. Sometimes even in 3. So from financial point it is better to buy slightly used one, than a brand new. But if you WANT a new car, and CAN buy it, you should do it. Because you have only one life and you won't take your money in a grave.
I was just made feel better after having owned a 240k mi. 3.2 V6 Audi A6 Wagon in the US for 2 years.
Thank you. As usual, fairly interesting. And you have a point. As long as I can keep my 2004 V10 Phaeton running, we will use it for long distance travel. The alternative would be some vehicle starting at 125 Grand or some figure, and as my wife always says, that's a third of a decent house. But I will also be honest, I would pay that amount for a Hummer EV. Any suggestions from my side for future videos? I really would love for you to get a little dirty with vehicles sometimes. You always seem to pay for everything. I figure it's not your thing or you lack space and equipment or whatever, but it would still be interesting I am sure. Besides that, you are a numbers guy, nothing wrong with that. The Swiss Car Numbers Guy. I will keep watching whatever direction you take. What other swiss person do we have? Unless a pretty girl with similar brains and compassion gives you a run for your money from Lausanne, we are stuck with you. Ain't that the truth.
Nice video. I would however be inclined to think that buying one of those 5yo models (G31) would be only marginally more expensive than the 2 gen old and beaten E61 that your friend is driving. What do you think?
BTW if you add the fact that most people drive (a lot) more then 8k km/y, buying a new car becomes an even worse idea.
I guess individual cases may vary dramatically too? For example safety tech in old cars may create more risk of self-injury which may hugely add to cost such as lost job income. And less reliability in old cars plus parts availability difficulty may require leasing a second car
not _that_ _old_ cars... 🥴
@@kittytrailConsumer Reports calculate fatality risk for 4-7 year old cars as 10% worse, 8-11 years as 19% worse going to 71% worse for 18 year old cars.
@@DeeSock depends mostly on level of maintenance. an unmaintained shitbox is a death trap. a well cared for less so, and you'll probably drive it in a safer way too. beside that's probably a US-centric stat so does not apply here. 🥱
@@kittytrail in a crash I'll take the unmaintained newish car czcams.com/video/TikJC0x65X0/video.html
@@kittytrail I'll take an unmaintained newer car in a crash czcams.com/video/TikJC0x65X0/video.html
Hey Mario, Another great TCO video. Cars keep you POOR. Best option don’t buy a German built car. You never need a BWM (Bayerische Mist Wagen), new or used. He should have bought a used Toyota or Lexus. Boring to drive but not boring on the hip pocket. How is the LS600 going??
The LS is actually starting to act up a bit. ACC and PCS occasionally giving error messages and randomly the car gets confused ("Moon roof open" displayed when it should actually say "headlights on" opening the driver's door after shutting the car off. 🤷🏻♂️
Haven't diagnosed, yet. Maybe a contact problem or a dying battery? 🤔
@@swisscarguy your LS is lost in translation, have you tried to turn it off then on again? 😼
Awesome video thanks
P.s. great video!
BMW ,MB. junk. Lexus ,built by sumo wrestlers imo
15k running costs almost replaces the same class car EV battery once lol (And you don't end up sponsoring some oil producers while at it)
The EV will also cost insurance and the tax credits will run out at some point. Electricity isn't completely free, either. The difference will mostly be the fuel, so it's more along the lines of 5k in total savings.
@@swisscarguy Drive a Tesla at ~200Wh/km for 40000km with 0,2€/kWh and ~15% loss = 200Wh/km is about 2k€.
Calc for Google/Wolframalpha: 40000km*200Wh/km*0,2€/kWh*1,15 in eur
In addition you are not polluting your neighborhood and your kids with at least NOx - fortunately post 2005 diesel car DPFs are not that bad in working condition.
@@rkan2 but one has to drive a Tesla...
If compared between new ICEv and new EV, yes it might make sense to go EV for lower running costs. But a used car has the massive advantage of not suffering crazy depreciation.
Conclusion: cost wise, it makes sense to buy new an i40 vs a 340m. However, not so much if comparing against a used 3 series at half or less purchase cost. Important consideration, one has to have access to cheap charging to make full savings and use case must support owning an EV.
@@TsLeng Absolutely - capital costs trump used cars basically everytime when you are comparing the same class of cars. When it comes to new cars though..