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Old 03-10-2018, 11:42 PM
fakerich fakerich is offline
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Should I buy a 2012 F30 328i?

Currently a college student and looking to finance a USED bmw. It's a 2012 328i going for 12k. 67k miles. Carfax shows that spark plugs replaced, Stabilizer bar links replaced, Cabin air filter replaced, front rotators and rear breaks replaced. I can get a special warranty for the car with the dealer. I was told I can pay around 180-200 a month for 60 months for this model. Is it worth it and is it reliable and cost efficient for me as I am a college student?
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Old 03-11-2018, 05:38 AM
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A lot depends upon how much money you can readily afford for upkeep- in general Bimmers require bit more regular/preventative maintenance than say most all Asian brands.

When these carís approach the 100K mile mark the can require some suspension work: shocks, replace worn rubber control and thrust arm bushings and the like- things that will typically last longer on carís with less sophisticated suspension designs.
If youíre able/willing to do some of your own work you can save significant expense on service/repair.

If you are serious on this car pay a mechanic to perform a pre-purchase inspection.

Unless you have good reserve funds for service/repairs I think youíd be better off sticking to an Asian brand now, get the fancy German ride when you graduate and have good paying job.


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Old 03-11-2018, 06:55 AM
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Since cost-efficient is your requirement, I am loath to suggest this car. Not because I have had to spend anything more than regular maintenance (my 2012 328i has been rock solid through 72k miles thus far), but because I can't say what issues might or might not crop up as the age/miles increase, and they will not be cost-efficient to rectify.
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Old 03-11-2018, 09:18 AM
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First post from user "FakeRich" located in "USA" asking about 5-year financing for a 6 year old BMW.

Subscribed. Looking forward to see where this thread leads.
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Old 03-11-2018, 09:36 AM
N52 Moistenor N52 Moistenor is offline
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Unless you want to replace the timing chain guides for at least $1000 within a year or two, no.
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Old 03-11-2018, 09:45 AM
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Quote:
Originally Posted by fakerich View Post
Currently a college student and looking to finance a USED bmw. It's a 2012 328i going for 12k. 67k miles. Carfax shows that spark plugs replaced, Stabilizer bar links replaced, Cabin air filter replaced, front rotators and rear breaks replaced. I can get a special warranty for the car with the dealer. I was told I can pay around 180-200 a month for 60 months for this model. Is it worth it and is it reliable and cost efficient for me as I am a college student?
Financing a 6 year old car with a 5 year loan (so it will be 11 years old before its paid off) is not the best idea for ANY car. Add in the (in general) higher costs that come with mechanical items on a BMW, and I would say its a very bad idea.

Its not going to be like your "toyota" in your mein auto is. You should either continue to drive your toyota, or buy another toyota or honda in that budget range.

If you are in a financial situation that requires you to finance a 12k car for 5 years (no judgement from me on that front at all, I was there into my 30s even), but you should get a "transportation" car that you can reasonably expect to still be running without spending a lot to keep it that way for an 11 year old car, Mr. / Ms. "fakerich".
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Old 03-11-2018, 09:49 AM
N52 Moistenor N52 Moistenor is offline
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I agree. Donít be financing a car, especially not a car like this.
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Old 03-11-2018, 09:57 AM
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Quote:
Originally Posted by fakerich View Post
Currently a college student and looking to finance a USED bmw. It's a 2012 328i going for 12k. 67k miles. Carfax shows that spark plugs replaced, Stabilizer bar links replaced, Cabin air filter replaced, front rotators and rear breaks replaced. I can get a special warranty for the car with the dealer. I was told I can pay around 180-200 a month for 60 months for this model. Is it worth it and is it reliable and cost efficient for me as I am a college student?
As a college student are you using student loans to finance your education? If so you would be making the payments on your car loan with a student loan. No it is not a good idea for a student (or anyone) to go into debt to buy a 6 year old car.

Do you have a car right now?
Do you live on campus or live within walking or bike riding distance?
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Old 03-11-2018, 10:27 AM
jjrandorin jjrandorin is offline
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Since this is OPs first post, I wonder if this will be another one of those "post and dash" type posts (basically flame bait type post)? Thats why Tex posted the

OP, make us wrong and reply to this post at some point.
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Old 03-11-2018, 10:29 AM
John MS John MS is offline
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Somebody having fun with a sock puppet?
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Old 03-11-2018, 10:49 AM
adhrp adhrp is offline
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Quote:
Originally Posted by jjrandorin View Post
Since this is OPs first post, I wonder if this will be another one of those "post and dash" type posts (basically flame bait type post)? Thats why Tex posted the

OP, make us wrong and reply to this post at some point.
Never really understood (and still don't) the point of flame bait posts. What do they achieve? Do people really have nothing better to do with their time? Not saying they don't exist. I am just not clear on their goal. A phishing link on the other hand could mean $$$, so I get that, but this? Anyway, giving OP the benefit of the doubt as I always do when I reply to such posts...
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Old 03-11-2018, 11:15 AM
jjrandorin jjrandorin is offline
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Never really understood (and still don't) the point of flame bait posts. What do they achieve? Do people really have nothing better to do with their time? Not saying they don't exist. I am just not clear on their goal. A phishing link on the other hand could mean $$$, so I get that, but this? Anyway, giving OP the benefit of the doubt as I always do when I reply to such posts...
Some enjoy making others mad, it gives them a sense of power. Not saying this is OP (because we dont know yet), but its the same thing as people "griefing" in video games, or other ways humans play pranks on other humans.

Its more common in the Millennial generation, due to the fact that most of them "grew up" online, and have several online presences for various objectives. Thats less true for older folks, although obviously over generalizing is usually bad because there is no such thing as one size fits all for anything related to human beings.

I usually try to assume that someone wants a real answer as well, which is why I made a geniune first post in this thread with the real advice I would give someone asking.
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Old 03-11-2018, 11:18 AM
fakerich fakerich is offline
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these posts are extremely informative. What if I were to go up a few years in age, somewhere around a 2014-15-16 model and finance it for 3-4 years. Would I end up having the same situation? Financially, I make around 1.5k-2k a month and I live with my parents, because my university is close to my home, so money wise, I can expand my budget a bit.
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Old 03-11-2018, 11:19 AM
fakerich fakerich is offline
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Originally Posted by N52 Moistenor View Post
Unless you want to replace the timing chain guides for at least $1000 within a year or two, no.
I have an option to get a dealer warranty so they could handle that I suppose.
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Old 03-11-2018, 11:29 AM
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Originally Posted by fakerich View Post
these posts are extremely informative. What if I were to go up a few years in age, somewhere around a 2014-15-16 model and finance it for 3-4 years. Would I end up having the same situation? Financially, I make around 1.5k-2k a month and I live with my parents, because my university is close to my home, so money wise, I can expand my budget a bit.


Makes no sense at all to buy another car when you apparently have a functioning Toyota. It's great that you are going to school, have a part time job and can live with your parents. However, you are not financially independent and should be spending as little as possible.

Am I correct to assume you are using student loans to finance tuition, books, etc?

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Old 03-11-2018, 12:04 PM
fakerich fakerich is offline
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Makes no sense at all to buy another car when you apparently have a functioning Toyota. It's great that you are going to school, have a part time job and can live with your parents. However, you are not financially independent and should be spending as little as possible.

Am I correct to assume you are using student loans to finance tuition, books, etc?
Not using any student loans ATM. Make around 1.5k a month and live at home since university is close to home for me. The Toyota is gonna go to my older brother soon since he graduating college and he's coming home, also.
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Old 03-11-2018, 12:55 PM
jjrandorin jjrandorin is offline
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Originally Posted by fakerich View Post
these posts are extremely informative. What if I were to go up a few years in age, somewhere around a 2014-15-16 model and finance it for 3-4 years. Would I end up having the same situation? Financially, I make around 1.5k-2k a month and I live with my parents, because my university is close to my home, so money wise, I can expand my budget a bit.
Thanks for re visiting the thread

To answer this question, it really depends on what your goals are. Of course, the newer the better, but a better question is "how many miles a year do you see putting on the car?"

The newer the car is, the better it will be (in general) as far as the statistics around expensive repairs being needed. Also, the newer it is, the more expensive it will be, and it may not fit into the budget you seem to have given yourself.

You also will be committing yourself to 3-5 years worth of payments, when you might want to move out sometime within that period of time, and this payment might be different then.

Life happens, and I would say that if you feel the only reason you can afford the payment is because you live at home, that ensures you will have to live at home until its paid off (or you have a life change in employment etc). At some point, people get tired of living with their parents, even if everything is great, and you love each other. You will want some independence and will still be dependent on them financially.

I know this generation (in general) seems to be more "OK" with living at home for a long period of time as adults more than my generation did (Im a gen X person myself), but I still think there is a lot of value in moving out on your own, having your own space, freedoms, etc, and this payment would put a damper on that for a while.

Anyway, life advice that you (sort of ) didnt ask for. Regarding the car, as I mentioned, dont take a 5 year loan out on a 6 year old car, thats a recipe for disaster (I have first hand knowledge of this in my youth). If you want that 12k car, take a 2 year loan out on it, or better yet, save some money if you can and pay cash for it.

If you "have" to give your car to your sibling because you live at home and your parents dicate you do so, then see if they will help you pay cash for that car.

I still would recommend that 12k go into a commuter style car (a nice newer hyundai, or toyota / honda that you can drive into the ground and until you get your first "after college" job that pays more than 20-24k a year. THEN reward yourself with a BMW.

Thats my advice, unsolicited as it is.
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Old 03-11-2018, 12:59 PM
fakerich fakerich is offline
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Originally Posted by jjrandorin View Post
Thanks for re visiting the thread

To answer this question, it really depends on what your goals are. Of course, the newer the better, but a better question is "how many miles a year do you see putting on the car?"

The newer the car is, the better it will be (in general) as far as the statistics around expensive repairs being needed. Also, the newer it is, the more expensive it will be, and it may not fit into the budget you seem to have given yourself.

You also will be committing yourself to 3-5 years worth of payments, when you might want to move out sometime within that period of time, and this payment might be different then.

Life happens, and I would say that if you feel the only reason you can afford the payment is because you live at home, that ensures you will have to live at home until its paid off (or you have a life change in employment etc). At some point, people get tired of living with their parents, even if everything is great, and you love each other. You will want some independence and will still be dependent on them financially.

I know this generation (in general) seems to be more "OK" with living at home for a long period of time as adults more than my generation did (Im a gen X person myself), but I still think there is a lot of value in moving out on your own, having your own space, freedoms, etc, and this payment would put a damper on that for a while.

Anyway, life advice that you (sort of ) didnt ask for. Regarding the car, as I mentioned, dont take a 5 year loan out on a 6 year old car, thats a recipe for disaster (I have first hand knowledge of this in my youth). If you want that 12k car, take a 2 year loan out on it, or better yet, save some money if you can and pay cash for it.

If you "have" to give your car to your sibling because you live at home and your parents dicate you do so, then see if they will help you pay cash for that car.

I still would recommend that 12k go into a commuter style car (a nice newer hyundai, or toyota / honda that you can drive into the ground and until you get your first "after college" job that pays more than 20-24k a year. THEN reward yourself with a BMW.

Thats my advice, unsolicited as it is.
Golden advice bro., I'm gonna have to reevaluate my choices. I just want to bump up my driving experience. I honestly want to get into some DIY repairs and stuff so I could eliminate my costs but I'm gonna reevaluate what I'm getting into. But the F30 just glows up in my eyes for some reason. Dealership also offered me a 4 year extended warranty under ford that covers most of the important things including the engine and the transmission.

Last edited by fakerich; 03-11-2018 at 01:04 PM.
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Old 03-11-2018, 01:10 PM
jjrandorin jjrandorin is offline
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Golden advice bro., I'm gonna have to reevaluate my choices. I just want to bump up my driving experience. I honestly want to get into some DIY repairs and stuff so I could eliminate my costs but I'm gonna reevaluate what I'm getting into. But the F30 just glows up in my eyes for some reason. Dealership also offered me a 4 year extended warranty under ford that covers most of the important things including the engine and the transmission.


My son is 24 and just moved out about 5 months ago, so I just lived this. I only have one child though, and I bought his car for him (a new hyundai) when he was in college and his hand me down kia sorrento (moms previous car) broke down.

Im still paying for the hyundai, but I chose to buy it and give it to him (and make the payments). He is paying for the insurance (something else you REALLY need to keep in mind as you are looking for cars is the cost of insurance, and in your case, unless you are >25 with no accidents or tickets, your proposed insurance payment on that car might be more than the car payments themselves).

Anyway, good luck
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Old 03-11-2018, 03:11 PM
fakerich fakerich is offline
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So basically, if I can find a 2 year finance alternative for this car, it would be a better idea for me? I have around 5k saved up that I can use for a down payment if needed.
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Old 03-11-2018, 04:41 PM
Palantir Palantir is offline
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Also you may want to call your insurance provider and see what your premium would be.
But if you really want the car-you will pay whatever they ask.
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Old 03-11-2018, 07:52 PM
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So basically, if I can find a 2 year finance alternative for this car, it would be a better idea for me? I have around 5k saved up that I can use for a down payment if needed.
Your entire savings is $5000, and you are going to blow it on financing a 6 year old BMW, when you drive a Toyota?
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Old 03-11-2018, 08:06 PM
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It usually makes sense to drive a reliable beater type of car in college.

The car of choice in this scenario among family and friends is usually a 2-3 year-old civic.

Most in this group of younglings pay for the car themselves with money from selling stuff on app stores, and/or part-time jobs working for local tech companies.

The civic has a cult status for them, even though some make a killing(or two) before legal drinking age.

Another issue these young kids face is time pressure, so a maintenance/repair-free car is on the top of their list regardless of brand.

Yet another influence can be MarkZ with his beatup Acura, but that's another story.

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Old 03-11-2018, 09:13 PM
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I would stick to the Japanese and concentrate on my studies once ur done get something nice.


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Old 03-11-2018, 09:29 PM
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Your entire savings is $5000, and you are going to blow it on financing a 6 year old BMW, when you drive a Toyota?
wasn't planning on using that money even with the car. the f30 is just.... I fell in love with the car and I haven't even driven a f30 yet. but like I said earlier, the Toyota isn't mine and I won't have a car soon.
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