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E90/E91/E92/E93 (2006 - 2013)
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  #26  
Old 10-04-2012, 03:09 PM
sq sq is offline
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If I were you (and I was you, financially, seven years ago except I lived in a much lower cost area), I'd buy the cheapest used and reliable car that you find acceptable to drive. Do NOT buy something you actively dislike. Been there, done that, not worth it unless you have no choice.

My experience with older BMWs has been that they run great and are not terribly expensive until the 70-80,000 mile mark (caveat: I'm not hard on my car and keep it well maintained).

Then, if you're lucky like me, every wear-and-tear item in the car down to the engine mounts goes at once in addition to something pricey like all three components of the air conditioning system, and you get to spend around $7,000 fixing everything. And, no, I was not being jacked around - I'd had a very good relationship with my mechanic for years, very honest guy.

This is not something you want to happen without some financial cushion to rely on. Now is the time to build your savings. The earlier you do it and get that money in an interest-earning account, the better off you will be.
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  #27  
Old 10-04-2012, 04:17 PM
jameskoo87 jameskoo87 is offline
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Thanks all for sharing your experience and giving me an advice..

If I buy this car, it will come with CPO warranty.. which is active until 2015 or 100,000 miles. Do you think the car will have issues after CPO even if perform preventive maintainence in the next 2 years? Also... will I get a big hit financially if I decided to sell this just around the time CPO ends?

Lastly... what car models would you recommend me to buy if not this which I can't seem to afford ?
all your comments really scare me away from these used 3 series..
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  #28  
Old 10-04-2012, 04:58 PM
mjrbimmer335i mjrbimmer335i is offline
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Quote:
Originally Posted by jameskoo87 View Post
Lastly... what car models would you recommend me to buy if not this which I can't seem to afford ?
all your comments really scare me away from these used 3 series..
Lmfao can't you tell from everyone's comments that they suggest an '89 Honda??
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  #29  
Old 10-05-2012, 06:01 AM
sunny5280 sunny5280 is online now
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Quote:
Originally Posted by jameskoo87 View Post
Thanks all for sharing your experience and giving me an advice..

If I buy this car, it will come with CPO warranty.. which is active until 2015 or 100,000 miles. Do you think the car will have issues after CPO even if perform preventive maintainence in the next 2 years? Also... will I get a big hit financially if I decided to sell this just around the time CPO ends?
The 328 is a fairly reliable car. However maintaining it is more costly than some alternatives but not much. Repairs can be significantly more than other vehicles. My friend has a 1999 Grand Cherokee which I've done some wrenching on. I am amazed at how inexpensive most of the parts are for that vehicle. For example we just recently replaced the engine management computer...$160 for the part and 90 minutes of time. If you decide to buy this BMW and keep it past the warranty then to keep this in mind.

Quote:
Originally Posted by jameskoo87 View Post
Lastly... what car models would you recommend me to buy if not this which I can't seem to afford ?
all your comments really scare me away from these used 3 series..
It's not so much the car that's the issue but rather the price. Perhaps consider something a little older. I'm checking Autotrader right now and see several 2007 328xi models around $21k with 44K-51K miles on the clock. Some have CPO, some do not. At these prices you're looking at ~ $340/month for the payment with $5K down, 6% rate (I think you should be able to do better), and a 60 month term.

Is this affordable to you? Only you can decide.
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  #30  
Old 10-05-2012, 06:25 AM
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laser laser is offline
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Quote:
Originally Posted by jameskoo87 View Post
Thanks all for sharing your experience and giving me an advice..

If I buy this car, it will come with CPO warranty.. which is active until 2015 or 100,000 miles. Do you think the car will have issues after CPO even if perform preventive maintainence in the next 2 years? Also... will I get a big hit financially if I decided to sell this just around the time CPO ends?

Lastly... what car models would you recommend me to buy if not this which I can't seem to afford ?
all your comments really scare me away from these used 3 series..
In my experience the "sweet spot" for buying a used 3 Series is 2 - 3 years old with 25 - 30,000 miles which gives you another 18 - 24 months and 20,000 or so miles of OEM warranty and free maintenance. This lets you work out any issues that car may have and you can decide if its a keeper or not while still under full warranty.

This is a pretty popular car and they go for $24k or less depending on options. With a 2009 and newer you get the LCI refresh (mid model run styling tweaks) and early model kinks tend to be worked out.

Like someone above said, unless you are in a really snowy situation probably wouldn't need the xi to keep things a little simpler and cost down.

This is a really nice car ..... drive a few at the local dealers and see what options you really like.

Good luck!
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  #31  
Old 10-05-2012, 06:45 AM
The X Men The X Men is online now
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Quote:
Originally Posted by jameskoo87 View Post
Thanks all for sharing your experience and giving me an advice..

If I buy this car, it will come with CPO warranty.. which is active until 2015 or 100,000 miles. Do you think the car will have issues after CPO even if perform preventive maintainence in the next 2 years? Also... will I get a big hit financially if I decided to sell this just around the time CPO ends?

Lastly... what car models would you recommend me to buy if not this which I can't seem to afford ?
all your comments really scare me away from these used 3 series..
If you are scare by some of these comments, by all means, do not buy the 3 series, most of these comments are true. All cars will have maintenance cost as it gets older, BMW is in the middle of the pack when it comes to relaibility. Sounds like the consevative side of you is taking over. If you are looking for a reliable sporty car, try a new Honda Civics.
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  #32  
Old 10-05-2012, 06:46 AM
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CALWATERBOY CALWATERBOY is offline
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Originally Posted by jameskoo87 View Post
I will regret it later when I'm old and have family to support....

Name:  Frustratedc.gif
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Size:  58.3 KB Old....so very, very, very old....can't drive no BMW when yer old....
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  #33  
Old 10-05-2012, 08:12 AM
spicytofu spicytofu is offline
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Quote:
Originally Posted by jameskoo87 View Post
Thank you all for sharing your thoughts.

If I do decide to get it,
I plan to put around $5000 down,
I don't expect to get good APR since I'm fresh out of college... so I'm guessing it'd be around 6% (reasonable)?

I want to do 60 months financing... I paid last 2 years of my GTI ($350 per month) but that was when I lived with my parents... so as someone has noted I don't have much after paying my rent ($700, living with room mate)

I wish I can trade-in my GTI but my brother needs it so... that's not an option for me.

Based on that, do you think it's a bad idea to go with used 3 series? I do have friends who are mechanics but I'm not sure if they service BMWs... I just got a qoute for insurance and it says $700 for 6 months..

Good choice!

I was on the same boat as you and I decided to buy it new. It depends on what offers the dealer is planning to give you and how much the CPO you want will be. I wanted at most a 3 yr old car, dealer wants close to 32k. I was able to get mine 2011 (leftover) new for 36k. I agree with the before posts, $60k is not a lot in the DMV area when average houses are +300k. Honestly, if I made $60k I wouldnt have probably bought the BMW since I would not have much leftover to pay off mortgages and other bills. But for a fresh grad with no obligations (except student loans) You will be glad you got your dream car earlier. Most people I know who went the house route regret not enjoying that dream car earlier, because once you get old, it doesnt hold the same value.
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  #34  
Old 10-05-2012, 08:29 AM
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Zooks527 Zooks527 is offline
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Quote:
Originally Posted by sq View Post
If I were you (and I was you, financially, seven years ago except I lived in a much lower cost area), I'd buy the cheapest used and reliable car that you find acceptable to drive. Do NOT buy something you actively dislike. Been there, done that, not worth it unless you have no choice.
This.

After you have the cheap used car in place, pay off the student loans. Then, build the emergency fund to +/- 6 months of expenses. Then, save enough to buy the 3-series (new or used) for cash.
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  #35  
Old 10-05-2012, 12:20 PM
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Daedalus34r Daedalus34r is offline
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fresh out of college with debt and you want to buy a car worth almost half your pretax salary. Honestly, i'd put a priority on creating more savings and just get something cheap. Go with an older bmw, E46. All the money saved can go towards repairs needed (if any) and then paying down school loans.
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  #36  
Old 10-05-2012, 01:00 PM
33beto 33beto is offline
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Originally Posted by Daedalus34r View Post
fresh out of college with debt and you want to buy a car worth almost half your pretax salary. Honestly, i'd put a priority on creating more savings and just get something cheap. Go with an older bmw, E46. All the money saved can go towards repairs needed (if any) and then paying down school loans.
This^

My preious 99 E46 was a a blast to drive for over 7 yrs/129k miles and never mayor issues in repairs other than maintenance. Overall, a fun reliable car.


my .2/cts.
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  #37  
Old 10-05-2012, 01:01 PM
ERdiesel ERdiesel is offline
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OP, if you need to ask a bunch of complete strangers on the internet as to whether or not you can afford "anything" regardless of whether you can or not, you probably shouldn't pull the trigger.
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  #38  
Old 10-07-2012, 10:35 AM
R608 R608 is offline
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OP, I completely understand the allure of the dream car, but in the position you said you're in right now, the timing doesn't seem ideal to go out and buy a used entry luxury car that you need to finance for 5 years. I think you should think about what your options will be in a few years if you get something that's inexpensive to buy and run for now, which you can more quickly pay off while building some credit and working on your college debt. You may even find it's really nice just not having car payments once you do.

If you'd be satisfied with an older 3-series, that could be one option. Depending upon the car and your luck, however, it could also prove costly. (Research e46 rear subframe failures, for an extreme example.) A used Honda or Acura (pick your model), or possibly Lexus IS or Infiniti G could be more economical options that are still nice cars, but it really comes down to what you value and what drew you to the BMW 3 in the first place. If you have to have that German feel (I can relate) you could always grab a newer VW, too, though they still have the potential to hurt your wallet a bit if you're unlucky.

Just food for thought... Good luck!

Last edited by R608; 10-07-2012 at 10:37 AM.
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  #39  
Old 10-07-2012, 03:30 PM
Mando3 Mando3 is offline
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In general. New cars are a dumb investment when trying to start a new life

Honestly, buy a nice base cpo car not too loaded with options to keep price down and maintenance down.

The smile you are going to see in your face every morning you get in your BMW is worth it.
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  #40  
Old 10-07-2012, 03:35 PM
sunny5280 sunny5280 is online now
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Originally Posted by Mando3 View Post
In general. New cars are a dumb investment when trying to start a new life

Honestly, buy a nice base cpo car not too loaded with options to keep price down and maintenance down.

The smile you are going to see in your face every morning you get in your BMW is worth it.
OP is looking at a used car.
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  #41  
Old 10-07-2012, 04:07 PM
Joe in Dublin Joe in Dublin is offline
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Go old school... Pick up a clean 90's 325is, manual.
U can work on it yourself and if u find a well sorted one u will enjoy it. Then u will have a bmw and have a car u can afford
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  #42  
Old 10-07-2012, 04:41 PM
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bear-avhistory bear-avhistory is online now
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Originally Posted by CALWATERBOY View Post
Attachment 344414 Old....so very, very, very old....can't drive no BMW when yer old....
Yes you can & 12.5 quarters to boot. I drove a lot more aggressive cars when i was "young", but I still do a number of fun things like fly upside down now that I am old. As for the OP I would get a new car if I was in your position speaking as someone with 100K+ miles on my 330ci.
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  #43  
Old 10-07-2012, 05:34 PM
jameskoo87 jameskoo87 is offline
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Hey guys,

Thank you so much for all the comments

I made a decision and pulled the trigger. Since I'm giving my GTI to my brother, my parents said they will help me with the insurance cost for 328i. I put 5,000 down and will be paying $410/month (5 year debt). The factory + CPO warranty is valid until August 2015, so if thing break down too much I'll just sell my car before then.

I know this is a bad financial decision, but as someone has said, I'm going to enjoy every bit of it now and live the life. Maybe I'll regret few years from now, but we'll see.

Again, thanks everyone. I'll start looking up some DYIs for my used 328i
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  #44  
Old 10-07-2012, 05:54 PM
sunny5280 sunny5280 is online now
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Quote:
Originally Posted by jameskoo87 View Post
Hey guys,

Thank you so much for all the comments

I made a decision and pulled the trigger. Since I'm giving my GTI to my brother, my parents said they will help me with the insurance cost for 328i. I put 5,000 down and will be paying $410/month (5 year debt). The factory + CPO warranty is valid until August 2015, so if thing break down too much I'll just sell my car before then.

I know this is a bad financial decision, but as someone has said, I'm going to enjoy every bit of it now and live the life. Maybe I'll regret few years from now, but we'll see.

Again, thanks everyone. I'll start looking up some DYIs for my used 328i
Congratulations! Let's see some pics.
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  #45  
Old 10-07-2012, 06:21 PM
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Chris90 Chris90 is offline
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Quote:
Originally Posted by jameskoo87 View Post
Hey guys,

Thank you so much for all the comments

I made a decision and pulled the trigger. Since I'm giving my GTI to my brother, my parents said they will help me with the insurance cost for 328i. I put 5,000 down and will be paying $410/month (5 year debt). The factory + CPO warranty is valid until August 2015, so if thing break down too much I'll just sell my car before then.

I know this is a bad financial decision, but as someone has said, I'm going to enjoy every bit of it now and live the life. Maybe I'll regret few years from now, but we'll see.

Again, thanks everyone. I'll start looking up some DYIs for my used 328i
I made 'bad' car decisions when I was out of college too, and would definitely do it again. You'll have plenty of money when you're older but you won't have that testosterone.
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  #46  
Old 10-07-2012, 07:18 PM
Mando3 Mando3 is offline
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Quote:
Originally Posted by jameskoo87 View Post
Hey guys,

Thank you so much for all the comments

I made a decision and pulled the trigger. Since I'm giving my GTI to my brother, my parents said they will help me with the insurance cost for 328i. I put 5,000 down and will be paying $410/month (5 year debt). The factory + CPO warranty is valid until August 2015, so if thing break down too much I'll just sell my car before then.

I know this is a bad financial decision, but as someone has said, I'm going to enjoy every bit of it now and live the life. Maybe I'll regret few years from now, but we'll see.

Again, thanks everyone. I'll start looking up some DYIs for my used 328i
That is the way to go! Congrats!
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  #47  
Old 10-08-2012, 07:03 AM
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Mark K Mark K is online now
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Originally Posted by Chris90 View Post
I made 'bad' car decisions when I was out of college too, and would definitely do it again. You'll have plenty of money when you're older but you won't have that testosterone.
+1

"Early to rise, early to bed makes a man wealthy, healthy and dead."
Those who don't agree probably also think there is such a thing as "safe fun". If there is, I never heard of it.

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  #48  
Old 10-08-2012, 10:53 AM
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Quote:
Originally Posted by jameskoo87 View Post
Hey guys,

Thank you so much for all the comments

I made a decision and pulled the trigger. Since I'm giving my GTI to my brother, my parents said they will help me with the insurance cost for 328i. I put 5,000 down and will be paying $410/month (5 year debt). The factory + CPO warranty is valid until August 2015, so if thing break down too much I'll just sell my car before then.

I know this is a bad financial decision, but as someone has said, I'm going to enjoy every bit of it now and live the life. Maybe I'll regret few years from now, but we'll see.

Again, thanks everyone. I'll start looking up some DYIs for my used 328i
Don't look back, no regrets!
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  #49  
Old 10-09-2012, 04:14 AM
R608 R608 is offline
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Good luck with the car! Take good care of it, and hopefully it will return the favor. How long are you hoping to keep it, assuming it doesn't prove to be a headache during the warranty period?
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  #50  
Old 10-09-2012, 06:58 AM
demontwinz demontwinz is offline
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congrats .. you will love it, that CPO protects you a bit too.

enjoy it : )
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