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looking for something fun, but needs to fit family in (not necessarily in luxury/loads of space) but at least be able to collect the kids from school etc. (8 and 5 year old kids).
Needs to be able to carry at least one bike (more is good, but can use Mrs Bs if we're all going biking).
Budget £20k
Thinking second hand rather than brand new.
Don't do many miles so fuel economy not critical and happy with petrol.
Currently drive a 525 touring which has been great but time for a change / midlife crisis!
I had a Subaru Legacy SpecB, fits your spec perfectly, other than being very cheap, spend the savings on petrol an VED.
T5
Audi S3/Golf R
Alpina B3
A van could be an option. Hadn't really thought of that. Do they need a lot of looking after (I'm not mechanically gifted 😳
4-door M3
I'd be thinking Golf R32 or GTi myself too - I have an A6 3.0 tdi myself (similar to your BMW 5) with two 5 yr olds and currently thinking about what next as the kids get older and we need less space in the car.
Flying Ox
Did you miss the bit in the OP where he said he currently drives a 5 Series Touring?
If you just want to be able to drive with no worry, just buy an ex-demo something?
Or for something different - my wife has a Freelander SD4, high spec and not slow. You'll get a 2-3 y/o old one for £20k.
I got a LWB T5 and had a camper plus bike garage conversion done for £18k all in.
[url= http://www.autotrader.co.uk/classified/advert/201409237632201/sort/default/body-type/estate/engine-size-cars/5lplus/make/mercedes-benz/onesearchad/used%2Cnearlynew%2Cnew/postcode/bt366dn/page/1/usedcars/radius/1500/fuel-type/petrol/model/e_class?logcode=p ]E63 AMG Wagon?[/url]
[img] http://pictures2.autotrader.co.uk/imgser-uk/servlet/media?id=966111582888436d6c27c52360bece30&width=350&height=262 [/img]
[url= http://www.autotrader.co.uk/classified/advert/201412089524086/sort/default/usedcars/postcode/bt366dn/page/2/model/rs6_avant/make/audi/onesearchad/used%2Cnearlynew%2Cnew/quicksearch/true/radius/1500?logcode=p ]RS6 Avant?[/url]
[img] http://pictures2.autotrader.co.uk/imgser-uk/servlet/media?id=66ac44992ca361fe7a73f2bb83bbbbe4&width=350&height=262 [/img]
Personally I'd go for something like a [url= http://www.pistonheads.com/classifieds/used-cars/subaru/forester/forester-2-5-turbo-sti-280bhp-6-speed-manual--2nd-generation-facelift-model-pristine-throughout/885660 ]Forester STI[/url] and spend the change on petrol so I could really enjoy it.
Jag XJ
You might just get an M135i for that budget.
Its very fast, but also pretty efficient, comfortable on long trips, practical and incredible fun on the right roads.
Looks are not for everyone though
The quattroporte is lovely, but probably out of my budget for anything not too old as only have £20k tops.
E63 or M5 would be interesting, need to look at that - would need to be an old one though I guess.
Do Audi TT's have a usable back seat (for kids) or are they just 2 seaters with a bit of storage space?
135 would be fun though Mrs B has a 1series too.

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