Hi guys!

[Elshan]

I'm a pretty new driver here just saying hi! :wavey:

I got my first car not too long ago which was an integra but I guess its in my blood to keep upgrading and changing to something new! Just like my other hobby of watches which I trade around quite a fair bit! If anyone is looking for something just let me know

Anyway I stumbled across these forums cos I'm looking for more info on owning a z4. I would appreciate it if someone could help me with a couple of queries I have about the car and the related costs..

-What would be a reasonable depre/yr for a used and older z4? (Maybe say 05 or thereabouts as I have a budget of less than 100k, the cheaper the better!)
-Would a monthly budget of $2000 a month be able to support all the related expenses(taking into account monthly depreciation as will be paying in full cash)? Somewhat related, does anyone have an idea how much insurance would cost for a car like this? (I'm 21 but will be under my dad's name, he's 59 and assuming no NCD)

I know its going to be a little skewed but would anyone have any opinions on owning a 350z against the z4? A 350z could be had for cheaper but after some calculations I realised it would cost around the same every month.

Finally I do realise young drivers tend to draw a little flak for wanting to own cars like this especially if its all their father's money but this would all be self funded That's why I've gotta plan my budget well to consider owning a dream car of mine!

Thanks in advance

 

[Slater]

Re: Hi guys!

welcome in. 2k depends also on the loan tenor u intend to borrow. but i would say its quite sufficient, enough for a mod fund too.

go fer it

 

[ac323]

Re: Hi guys!

I'm a pretty new driver here just saying hi! :wavey:

I got my first car not too long ago which was an integra but I guess its in my blood to keep upgrading and changing to something new! Just like my other hobby of watches which I trade around quite a fair bit! If anyone is looking for something just let me know

Anyway I stumbled across these forums cos I'm looking for more info on owning a z4. I would appreciate it if someone could help me with a couple of queries I have about the car and the related costs..

-What would be a reasonable depre/yr for a used and older z4? (Maybe say 05 or thereabouts as I have a budget of less than 100k, the cheaper the better!)
-Would a monthly budget of $2000 a month be able to support all the related expenses(taking into account monthly depreciation as will be paying in full cash)? Somewhat related, does anyone have an idea how much insurance would cost for a car like this? (I'm 21 but will be under my dad's name, he's 59 and assuming no NCD)

I know its going to be a little skewed but would anyone have any opinions on owning a 350z against the z4? A 350z could be had for cheaper but after some calculations I realised it would cost around the same every month.

Finally I do realise young drivers tend to draw a little flak for wanting to own cars like this especially if its all their father's money but this would all be self funded That's why I've gotta plan my budget well to consider owning a dream car of mine!

Thanks in advance

Hi Elshan,

Welcome in..........
Z4??? good choice man........

you may check sgcarmart for some good buy (Z4)......

S$2k monthly more than enough..........


vroom vroom
cheers

 

[Elshan]

Re: Hi guys!

Thanks for the opinions guys!

Most likely would be paying in full so I'll take depreciation into account instead of loan repayments under the 2k budget...

Have seen a couple around sgcarmart with a yearly depre of about 12k+(not sure how accurate my calcs are since I'm not sure about the body value of the car though)..

If I manage to find one fully modded would be a plus no need for mod fund that way!

One worrying cost would be the insurance though. Just did a casual enquiry with AIG and they wouldn't even want to insure me since I was under 23, even if the car wasn't under my name. Haven't had the chance to check around but the thought of paying that much for insurance is quite frightening though..

Oh oh one last qns, how would the maintenance costs be like for a 5yr old z4? Are there any major parts that would start to fail for a car of that age? Would need to factor that into my budget too!

 

[Slater]

Re: Hi guys!

Thanks for the opinions guys!

Most likely would be paying in full so I'll take depreciation into account instead of loan repayments under the 2k budget...

Have seen a couple around sgcarmart with a yearly depre of about 12k+(not sure how accurate my calcs are since I'm not sure about the body value of the car though)..

If I manage to find one fully modded would be a plus no need for mod fund that way!

One worrying cost would be the insurance though. Just did a casual enquiry with AIG and they wouldn't even want to insure me since I was under 23, even if the car wasn't under my name. Haven't had the chance to check around but the thought of paying that much for insurance is quite frightening though..

Oh oh one last qns, how would the maintenance costs be like for a 5yr old z4? Are there any major parts that would start to fail for a car of that age? Would need to factor that into my budget too!

yeah. just found out also that insurance premiums have gone upsubstantially over the past couple of months and they r not willing to insure young drivers in some instances.

just bought a citroen c4 today and insurance is 3000 bucks from AIG! suggest u purchase the z4 under ur parents name to get a lower insurance premium. then again u will need to start building ur own NCB at some point in time.

 

[ac323]

Re: Hi guys!

Thanks for the opinions guys!

Most likely would be paying in full so I'll take depreciation into account instead of loan repayments under the 2k budget...

Have seen a couple around sgcarmart with a yearly depre of about 12k+(not sure how accurate my calcs are since I'm not sure about the body value of the car though)..

If I manage to find one fully modded would be a plus no need for mod fund that way!

One worrying cost would be the insurance though. Just did a casual enquiry with AIG and they wouldn't even want to insure me since I was under 23, even if the car wasn't under my name. Haven't had the chance to check around but the thought of paying that much for insurance is quite frightening though..

Oh oh one last qns, how would the maintenance costs be like for a 5yr old z4? Are there any major parts that would start to fail for a car of that age? Would need to factor that into my budget too!

car can be 5 year old so long mileage not like 120,000km onwards (usually worried the gear box might give-way) other than that i don't think z4 is a real high maintenance car (probably the mod $ is more expensive, depending on what you gonna mod) .......
...faulty parts are quite similar (starter, alternator, fuel pump, etc...) to those other series that uses the same engine i supposed......

go for it..............

cheers

 

[Elshan]

Re: Hi guys!

yeah. just found out also that insurance premiums have gone upsubstantially over the past couple of months and they r not willing to insure young drivers in some instances.

just bought a citroen c4 today and insurance is 3000 bucks from AIG! suggest u purchase the z4 under ur parents name to get a lower insurance premium. then again u will need to start building ur own NCB at some point in time.

I did enquire with AIG from my sis who's an agent, they would insure my dad but not any driver under 23 :ehhh: Right now I'm paying about 1800(30% ncd) for my integra under his name which is very decent I think..

I'll have to start shopping around for other insurers who would dare to insure me..seems like getting a quote is tough enough!

 

[Elshan]

Re: Hi guys!

car can be 5 year old so long mileage not like 120,000km onwards (usually worried the gear box might give-way) other than that i don't think z4 is a real high maintenance car (probably the mod $ is more expensive, depending on what you gonna mod) .......
...faulty parts are quite similar (starter, alternator, fuel pump, etc...) to those other series that uses the same engine i supposed......

go for it..............

cheers

hehe mods no money to buy yet, unless i manage to find a car already modded for a decent price don't trust my driving skills enough to utilise any performance mods!

for the replacement of those kinda parts...around how much might it cost a year including service and all? Sorry a little noob to all this, haven't owned a car long enough to know much! Thanks for the advice bro!

 

[ac323]

Re: Hi guys!

hehe mods no money to buy yet, unless i manage to find a car already modded for a decent price don't trust my driving skills enough to utilise any performance mods!

for the replacement of those kinda parts...around how much might it cost a year including service and all? Sorry a little noob to all this, haven't owned a car long enough to know much! Thanks for the advice bro!

from hundreds to thousands........too not ex like gear box


cheers

 

[C3P0]

Re: Hi guys!

Btw, on ur insurance, I also quite noob but my friend iscoupe says if u got problem getting insurance for z4, 350z lagi more problem. So stick to BMW ya..

 

[Wins88]

Re: Hi guys!

Welcome in! In your case, I think 2k is enough to tide you through. I think your greatest problem will be finding someone to insure you - as you are young - and the cost of the insurance could be prohibitive if offered. I advise you to try to get a few quotations to see if insurance may break your 2k per month budget.

 

[C3P0]

Re: Hi guys!

I'm gonna be the odd one out in my answer.
Eishan, u mentioned u want to use depreciation to budget as u are paying for the car in full cash. I intepret as no loan.
I use a z4 in sgcarmart today as a guide. April 05, 2.5l, $95k. Average depre is $12.6k if u hold it till end of ten years. Monthly depre we aga aga as $1k.
Assuming insurance is $3k a year with no NCD, petrol of $300 a mth, parking and Erp aga aga $200, that's around $750 in total.
So for above costs it is $1750.
That leaves u with $250 for maintenance. For an old car with high mileage, u may incur more than $3k a year for maintenance. But again, this will depends on the condition of the car and also ur luck. To keep within budget, try to go with a low mileage car. This is the biggest unknown factor in ur budgeting, whch is the hardest to predict.

But note that the above is not cash budgeting. If u use cash to calculate, I think it will be sufficient since u have no loan repayment.

 

[Elshan]

Re: Hi guys!

I'm gonna be the odd one out in my answer.
Eishan, u mentioned u want to use depreciation to budget as u are paying for the car in full cash. I intepret as no loan.
I use a z4 in sgcarmart today as a guide. April 05, 2.5l, $95k. Average depre is $12.6k if u hold it till end of ten years. Monthly depre we aga aga as $1k.
Assuming insurance is $3k a year with no NCD, petrol of $300 a mth, parking and Erp aga aga $200, that's around $750 in total.
So for above costs it is $1750.
That leaves u with $250 for maintenance. For an old car with high mileage, u may incur more than $3k a year for maintenance. But again, this will depends on the condition of the car and also ur luck. To keep within budget, try to go with a low mileage car. This is the biggest unknown factor in ur budgeting, whch is the hardest to predict.

But note that the above is not cash budgeting. If u use cash to calculate, I think it will be sufficient since u have no loan repayment.

Hi! Thanks for your input..

My calculations were pretty much similar to the way you did it but I wasn't too sure how much maintenance could amount to. The insurance I haven't been able to get any quotes out of my sis yet( who's an agent) but the most similar car I could get a quote for was a MX5 for 2.5k a yr! :screwedu:

Btw, what would the approx body value be after 10yrs? If could get back another 6+k plus the remaining OMV...depre could be a little lower :thinking:

 

[ac323]

Re: Hi guys!

Hi! Thanks for your input..

My calculations were pretty much similar to the way you did it but I wasn't too sure how much maintenance could amount to. The insurance I haven't been able to get any quotes out of my sis yet( who's an agent) but the most similar car I could get a quote for was a MX5 for 2.5k a yr! :screwedu:

Btw, what would the approx body value be after 10yrs? If could get back another 6+k plus the remaining OMV...depre could be a little lower :thinking:

Hi Elshan,

honestly again with S$2k a month is more than enough (considering you are not taking any loan)................cause if you plus petrol, road tax, insurance, ERP and parking, etc etc....i don't think it will hit above S$2k....unless your insurance is like (S$5000 maybe cause of your age)...........and also how long you gonna drive this upcoming car then you can calculate the depreciation to the more or less actual rate....don't forget that in years to come most of the cost will go up eg, (Petrol, ERP, Servicing Cost and Faulty Parts that you might change for the car) so this depreciation rate will constantly be going up up up and up.................

hope this helps...........

vroom vroom
cheers