LAST SATURDAY our colleague Fintan OToole hitched a lift with property developer Paddy Kelly in his “7-series BMW he bought in 2003 for €139,000”. Fintan was “a little surprised to see a Nama-bound property developer still driving such a fine car”.
Following his praise of the Bavarian flagship we felt it was only fitting to road test the latest version of the car, just in case Mr Kelly needs a new motor. It’s only fair to offer this level of personal review. After all, he did spend a day ferrying our colleague around for no fee.
I’ve actually had a month of living the developer lifestyle – at least in motoring terms – jumping from an Audi A8 to a BMW X5 and from a Jaguar XJ to this BMW 7 Series.
I’ve cruised past the nation’s empty housing estates, cushioned from the grim reality of recession by supple leather heated seats, plush carpeting underfoot and a host of driver aids. The cost of these cars might bear no relationship with the meagre savings in my bank account, but then that’s not different to the property tycoons either.
So what can Mr Kelly expect from the latest iteration of the Bavarian flagship should he decide to update his car?
Well his new 7-Series will make just as much of a motoring statement as the old. Discretion is not part of the DNA for luxury cars and this BMW makes its presence felt.
When Chris Bangle redesigned the BMW flagship at the start of the last decade, there was a public outcry from BMW fans. It was bold, brash and for many people, it was too bulky by far. Slowly but surely though, it has won over its critics.
The latest offering is a continuation on the theme but partly because we are no longer taken aback by its size, we can appreciate that there has been a subtle softening of its lines. The front kidney grilles may have reached a size where they threaten to swallow the rest of the car, but a combination of nicely tapered lines on the bonnet and side panels turn the imposing nose into a softer, more refined luxury liner.
Inside, the refinement continues with the usual mix of soft leather and a host of gadgetry. BMW interior designers have never been fond of bling, so the look remains more Germanic and functional than rivals like the Jaguar XJ. It’s conservative but comfortable. The leather-clad dash, for example, is of the rough texture variety, while there is plenty of plastic panelling that doesn’t quite match the fit and finish of the Audi A8.
The latest version of the iDrive system is the best yet. Instead of the tedious menu-based system of old, the new system adopts the same controls as in the latest 3-Series, with button controls that bring you directly to radio, Sat-Nav or telephone, and from there you can twist and click your way around.
We still ultimately prefer a touch screen system, but the mass adoption of iDrive-style systems shows that Bangle was clearly on to something when he introduced the all-controlling knob in the 7-Series nearly a decade ago.
Alongside these general controls, the driver can also adjust the suspension system via a toggle switch next to the iDrive control. Four modes are offered, from Comfort to Sport + and the differences are noticeable not just in the ride quality, but in the car’s handling too.
It seems distinctly odd to be opting for a sport mode in a car of this size, but the 7-Series has the engineering pedigree to warrant the option. While the competition in the premium and luxury end of the market has become intense, BMW has a pedigree for dynamic ride and handling, to the extent that some drivers have found them a little too hard for their tastes. The 7 Series offers owners the option to drive like you mean it or sit back and waft along.
The test car was the 740d, taking on the new six-cylinder twin-turbo diesel engine developed by BMW in recent years. While still ultimately a three-litre diesel block, it manages to significantly increase the power output over the standard three-litre engine, while reducing both fuel consumption and emissions. Not a bad effort all round and certainly packing more than enough kick to send this sizeable tonnage of metal hurtling towards the horizon at the flick of your right foot.
SO IT’S all good news for Mr Kelly then: more power, performance and comfort while retaining all the imposing looks. All he needs now is a friendly bank manager to give him the car loan.
There is a sting in the tail however. The problem for Paddy Kelly and many luxury car owners is that while his current 7-Series from 2003 is no doubt a very impressive car to be driving around when you owe the bank about €350 million, if he was to try and sell it, he’d be starring at yet more financial pain. A quick trawl through the websites shows that he’d probably get about €20,000 for it at most. To use the NAMA parlance, that’s an 85 per cent haircut.
And therein lays the problem with luxury cars. Unlike the other shrewd investments its buyers might make to get them into the luxury car league, even the most gung-ho captains of property and industry can’t believe they are going to walk away from these cars with a few extra euros in their wallets.
And while thousands of us mere mortals may hanker after a little luxury in our motoring lives – even if it’s from the used lot and has been around the block a couple of times – the running costs of these vehicles often scare us back to the reality of regular family motoring. Combine these two factors and it’s not surprising you get some Nama-like depreciation. It’s a problem suffered by all the luxury cars on offer and none are immune.
If it was our property empire and we were evading Nama, we’d probably lean towards the new Jaguar XJ ahead of all the German offerings in the luxury fleet. Its styling is sharper, its handling more dynamic and its interior that bit more exciting.
Admittedly it’s risky to suggest a British car over tried and trusted German rivals, but then our property developers were never known to be afraid of punt. It’s a tendency that has served them well so far, hasn’t it?
BMW 7-Series
Engine: A new six-cylinder 2,993cc twin-turbo diesel engine
0-100km/h: 6.3 seconds
CO2: 181g/km
Motor tax: €630
Bootspace: 520 litres
Price: €103,160
THE RIVALS
Jaguar XJ 30d Premium Luxury
Power: 275bhp
0-100km/h: 6.4 secs
L/100km (mpg): 7.0 (40.1)
CO2: 184g/km
Motor tax: €630
Bootspace: 520 litres
Price: €91,635
Audi A8 4.2 TDI
Power: 350 bhp
0-100km/h: 5.5 secs
L/100km (mpg): 7.6 (37.2)
CO2: 199 g/km
Motor tax: €1,050
Bootspace: 510 litres
Price: €110,170
Mercedes S350 CDI
Power: 232 bhp
0-100km/h: 7.8 secs
L/100km (mpg): 7.6 (37.2)
CO2: 199 g/km
Motor tax: €1,050
Bootspace: 560 litres
Price: €98,600
Lexus LS600h
Power: 440 bhp
0-100km/h: 6.3 secs
L/100km (mpg): 9.3 (30.4)
CO2: 219 g/km
Motor tax: €1,050
Bootspace: 420 litres
Price: €133,315