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Discussion Starter #1
I’m 18 and I currently own a 2002 325i and I wanna go for a big upgrade I’ve been looking into an e70 for months now but I’ve been getting mixed reviews on how reliable they are I currently work 2 jobs and do most of the work on my car myself but after seeing all these bad reliability reviews should I take the chance of getting one with the amount of mileage it has on it. I don’t want to make payments on this car but also have to go way out of pocket because something wants to break every month.


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You should definitely not go for that. I can’t even )marine what the interest rate in a car that old.
Is the 325i still a good car and paid for? Keep it. That car should last 300k miles or more if maintained. So should the X5, but your 3 series is a known entity, parts are relatively cheap, problems are few and fixes well documented on YouTube. Keep it through college, buy something newer once you are more financially stable.


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Buy a used Toyota SUV., like 4Runner or a Sequoia

Don't overstretch yourself .

2010 X5 is going to cost you HEAVY maintenance even if you know to change an engine.
 

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"First line" lenders usually don't want to mess with any vehicle that has over 100k miles or is over seven model years old. So, you'd have a hard time getting any loan unless you're buying and financing said 2010 X5 from an independent used car lot. In that case, you'd be paying too much for the car and way too high of an interest rate. BMW's are for "rich people," even old BMW's due the higher maintenance costs. I spent $7k in maintenance and repairs on my old BMW, over twelve months and between 103k and 112k miles.

Keep chugging along in that 325i, and saving your money up. People should own cars, not the other way around.
 

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Don’t even think about it!
If your 325i has some issues and it’s too expensive to address it, get car like Toyota Highlander or RAV4 (forget even 4RUNNER or Sequoia as suggested). If you work two jobs you need reliability + some decent mpg.
However, if your 325i is ok, keep it. You have best car in the world, a paid off car.


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Nuclear engineer
02/2012 X5 35d M57Y CPO 99K miles NOKIAN WR G3 12K miles
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+2...be much smarter than most people your age!

I know how jonesing for a vehicle you want is rough, give it a week and you'll be over it.
 

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Don't finance a car UNTIL you can afford to pay cash.



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Don't even think about it!
If your 325i has some issues and it's too expensive to address it, get car like Toyota Highlander or RAV4 (forget even 4RUNNER or Sequoia as suggested). If you work two jobs you need reliability + some decent mpg.
However, if your 325i is ok, keep it. You have best car in the world, a paid off car.


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The ongoing costs of a high mileage e46 is not cheap, even diy. E70 X5 is more. I think the best financial decision all things considered, is to buy a new economy car with modern safety tech included. This is uniquely appealing in 2019 as Asian brands are making safety tech very attainable or standard equipment. That being said, the engineered safety through materials and driving dynamics will not be the same as your e46 and maybe e70.

I disagree buying an older Toyota is a wise investment from the rust belt, they deteriorate faster than they depreciate ***x1f604;

If you buy a nice older e70 that someone else has kept up very well, I don't think that is a bad choice. We financed a private party 8 or 9 year old e53 with 115k through a credit union. That was a totally fine move for us, though we knew the car was exceptional and had significant history. In the e70 world, just like e53, reduce your maintenance liability by avoiding fancy suspensions, extra cylinders, and large or staggered wheels.

Edit: at 18, really evaluate what your mechanical diy abilities are before committing to any other used BMW or any other high value car. Insurance rates should be a factor in your decision.
 

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I financed my 150k km 2009 X5, but I have a slightly unique situation for how my car is getting paid off that isn't realistic for most people. Plus I wanted to build some credit, and it's getting paid off super early. It's been a year and I have maybe $2k left to pay off of the $17k I purchased the car for, and I could easily just pay it off right now but I'm in no hurry.

For you, I would say it's not a good plan. At 18 this sounds like you're stretching yourself in order to afford the car. One major repair and you're gonna be super upside-down on it which is really bad for a nearly 10 year old car.
 

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Discussion Starter #11
You should definitely not go for that. I can’t even )marine what the interest rate in a car that old.
Is the 325i still a good car and paid for? Keep it. That car should last 300k miles or more if maintained. So should the X5, but your 3 series is a known entity, parts are relatively cheap, problems are few and fixes well documented on YouTube. Keep it through college, buy something newer once you are more financially stable.


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325i is paid for with 181k has a couple issues I need a coolant refresh and suspension refresh and a vacuum leak these all popped up at the same time and it’s been overwhelming but keeping my car would be the the brighter idea


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What was that?
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325i is paid for with 181k has a couple issues I need a coolant refresh and suspension refresh and a vacuum leak these all popped up at the same time and it’s been overwhelming but keeping my car would be the the brighter idea


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I have a 2011 X5 with 114k miles. Bought 3 years ago as a CPO car with full maintenance history. I have done all the required maintenance and after 30k miles I am still terrified by what may stop working next... not so much because of the DIY challenge, but by the complexity of repairs and replacement parts cost.

I can only dream of how much better it would have been if I had kept my E46...

Someone said to save up until you cam afford to pay cash for your car, then finance. That is very wise advice. I would keep the car you have now until you are there as long as you have time and energy to wrench on it.

Good luck!


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The ongoing costs of a high mileage e46 is not cheap, even diy. E70 X5 is more. I think the best financial decision all things considered, is to buy a new economy car with modern safety tech included. This is uniquely appealing in 2019 as Asian brands are making safety tech very attainable or standard equipment. That being said, the engineered safety through materials and driving dynamics will not be the same as your e46 and maybe e70.

I disagree buying an older Toyota is a wise investment from the rust belt, they deteriorate faster than they depreciate ***x1f604;

If you buy a nice older e70 that someone else has kept up very well, I don't think that is a bad choice. We financed a private party 8 or 9 year old e53 with 115k through a credit union. That was a totally fine move for us, though we knew the car was exceptional and had significant history. In the e70 world, just like e53, reduce your maintenance liability by avoiding fancy suspensions, extra cylinders, and large or staggered wheels.

Edit: at 18, really evaluate what your mechanical diy abilities are before committing to any other used BMW or any other high value car. Insurance rates should be a factor in your decision.
I disagree.
While Toyota is far from what reputation suggests (I have one), it is fairly simple, and once he racks up miles, even if there are rust issues, he will sell it easily (unfortunately, American market).
Going with 2010 X5 is definiately more expensive than E46. Take into consideration even if it is naturally aspirated 6cyl, it has electric water pump, what is service history, TC fluid change, AT fluid change etc? If it is V8, that is not worth of discussion or diesel.
 

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An 18 year old driver considering a 15 year old BMW

Looks like the consensus to buy/finance a 15-year old BMW is to pass on it.

I think your first step was a great one = asking your question on the forum. The second step will be to see how the feedback you've received has changed what your next/third step will be.

Good luck with your choices - keep making good ones :)
 

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Discussion Starter #16
I’m 18 and I currently own a 2002 325i and I wanna go for a big upgrade I’ve been looking into an e70 for months now but I’ve been getting mixed reviews on how reliable they are I currently work 2 jobs and do most of the work on my car myself but after seeing all these bad reliability reviews should I take the chance of getting one with the amount of mileage it has on it. I don’t want to make payments on this car but also have to go way out of pocket because something wants to break every month.


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X5 is now out of the picture I’m going for a 2009 or 2010 5 series I can handle one for sure


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Besides being an oil nut, your knowledge of MIG 21 and boats is astounding :thumbup:

Lol, you are right about boats.
More on topic, I own Toyota LC in Europe. Great for some challenging off road adventures, and that is about it.
But, did you suggest that seriously or just to tell us how you would buy LC?


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