# Can I afford a 330Ci?



## Norskie (Jul 19, 2016)

You're young enough to have time to recover from any bad financial decisions. On the other hand, you're young and you have financial opportunities you'll never have later.

If you're able to max out your Roth IRA and not take out loans for college, then by all means get the car you want.

If you think my advice is boring and stupid, google the average person's retirement savings, and how much $5500 in an IRA @ 2% will be worth when you're 60 years old, and ask yourself if you want to pay that much for a fun car today. Then you can make an informed decision (I don't know you well enough to know if you'll make a mature decision).


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## mark_m5 (Sep 16, 2006)

Norskie said:


> You're young enough to have time to recover from any bad financial decisions. On the other hand, you're young and you have financial opportunities you'll never have later.
> 
> If you're able to max out your Roth IRA and not take out loans for college, then by all means get the car you want.
> 
> If you think my advice is boring and stupid, google the average person's retirement savings, and how much $5500 in an IRA @ 2% will be worth when you're 60 years old, and ask yourself if you want to pay that much for a fun car today. Then you can make an informed decision (I don't know you well enough to know if you'll make a mature decision).


Googled. A $5500 deposit at age 18 this year, making 2%, will be worth $12,634 at age 60.

So laying in your bed at age 60, would you be willing to trade all the days from this day to that, for just once chance to come back here and tell your doubters that they can take that $7134, but you can't take your freedom!!!

(insert yelling and brandishing of sticks here) 
:stickpoke


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## ksuderman (Mar 15, 2016)

My two cents.

1. If you have to ask "can I afford it?"... you can't. You are only seeking validation and support for what you already know is a bad idea.

2. I bought a 1995 325i in 2001 for ~6K and I drove it for ten years. It only cost me oil changes, one set of tires, brake pads, and a bushing in the clutch pedal. Your mileage may vary.


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## Norskie (Jul 19, 2016)

mark_m5 said:


> So laying in your bed at age 60
> :stickpoke


How about just waiting a few years until he better afford it (five years?) - when he can fund his Roth AND buy the shiny toy without stretching his budget.



mark_m5 said:


> Googled. A $5500 deposit at age 18 this year, making 2%, will be worth $12,634 at age 60


Yup, and if the market does a little better (like a reasonable 4%/year) it'll be worth $26k. If he waits 20 years to start putting money away, that $5500 can only grow to about $8k (40 years) or $13k (20 years).



mark_m5 said:


> but you can't take your freedom!!!


Financial freedom comes from living below your means ;-)

And for the record, my wife thinks I'm an emotionless-robot.


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## need4speed (May 26, 2006)

jiveturky1 said:


> Buy a normal, reliable car. Spend the rest on women.
> 
> When you're older and can afford it, you'll flip that and your extra money can go toward cars.
> 
> Go figure.


LOL- this is the truth, and good advise!


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## Rando687 (Jan 28, 2017)

*Reply*

I asked the question could I afford an e46 330ci or even any bmw at my age. I came into this knowing it was gonna be something I probably couldn't afford and now It's clear that it's pretty unrealistic at 18 to buy and maintain a BMW. I know that a BMW is a luxury vehicle and it's gonna be expensive no matter what, and I'm perfectly fine with waiting until I have a career to get the car I want. I believe I could get one if I worked at it hard enough and with some help but i know it would eat all of my money. But this doesn't change the fact that I do want to save up for a car and upgrade from a civic. So last thing, any suggestions on a fun car to drive and one I can afford to maintain that costs around 5k? Thanks.


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## imtjm (Oct 5, 2004)

mark_m5 said:


> Googled. A $5500 deposit at age 18 this year, making 2%, will be worth $12,634 at age 60.
> 
> So laying in your bed at age 60, would you be willing to trade all the days from this day to that, for just once chance to come back here and tell your doubters that they can take that $7134, but you can't take your freedom!!!
> 
> ...


well, you aren't factoring in the inevitable costs associated with dumping more money into a vehicle that is expensive to maintain and repair...and, didn't the fictitious William Wallace get disemboweled, decapitated, and quartered (real William Wallace got hanged, drawn, and quartered), while Scotland remained under the British?


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## imtjm (Oct 5, 2004)

Rando687 said:


> I asked the question could I afford an e46 330ci or even any bmw at my age. I came into this knowing it was gonna be something I probably couldn't afford and now It's clear that it's pretty unrealistic at 18 to buy and maintain a BMW. I know that a BMW is a luxury vehicle and it's gonna be expensive no matter what, and I'm perfectly fine with waiting until I have a career to get the car I want. I believe I could get one if I worked at it hard enough and with some help but i know it would eat all of my money. But this doesn't change the fact that I do want to save up for a car and upgrade from a civic. So last thing, any suggestions on a fun car to drive and one I can afford to maintain that costs around 5k? Thanks.


It's not a matter of being 18yo...or any age for that matter, it's a matter of choice(s).

Again, if you are intent on saving for an "upgrade" from a civic, I hardly think there is any difference, then, from "upgrading" to a BMW or any other car. The underlying issue still remains whether or not you can afford to do so. I still go back to why the civic is worthy of ditching if it is paid for, reliable, low insurance, and low maintenance/repair costs. You are thinking of spending $5k for what then? You aren't going to get to school or work any faster. Keep the civic, if you want to get your thrill fix, go to a go kart place...or, better yet, get a job working at your dad's used car lot, drive some of those vehicles to and from work as part of your job or business related functions. Keep the money in the bank or mutual funds and wait until your civic dies to get a newer car. It makes no sense to spend $5k getting rid of a reliable and paid off car for a used unknown car.

If your entire life is focused on working to buy an object, you aren't living life you are living for the object.


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## mark_m5 (Sep 16, 2006)

Norskie said:


> How about just waiting a few years until he better afford it (five years?) - when he can fund his Roth AND buy the shiny toy without stretching his budget.


Normally, I would advise just this course of action. But my theory for Rando and kids like him is that he has the potential to be a top-10-percenter. He just needs the motivation. He's already talking smart about saving up, which means he'll work hard. This dream car might motivate him to work smart. It might motivate him to get a higher paying job than his buddies, learn what it takes to get ahead, etc. The car is the "carrot" that will get him to push that extra amount that will get him ahead. He's already talking about saving up for the car until he can afford it. So the only variable is the date when he pulls the trigger.



Norskie said:


> if the market does a little better (like a reasonable 4%/year) it'll be worth $26k.


Or it could go up at 24% :bigpimp:



Norskie said:


> Financial freedom comes from living below your means ;-)


TRUE. :thumbup::thumbup::thumbup: If anyone looks at all my posts in other threads started by teens with "can I afford ____" or "I'm thinking about buying _____", I advise what you're advising. The difference in this thread is that the OP said he plans to save up.

And I just recently spent a bunch on a car, so I'd be a hypocrite if I said "don't do that"... :eeps:


Norskie said:


> And for the record, my wife thinks I'm an emotionless-robot.


I doubt that! :rofl:



imtjm said:


> well, you aren't factoring in the inevitable costs associated with dumping more money into a vehicle that is expensive to maintain and repair...and, didn't the fictitious William Wallace get disemboweled, decapitated, and quartered (real William Wallace got hanged, drawn, and quartered), while Scotland remained under the British?


I am making an assumption based on my experience that BMW cars are not as expensive to maintain as the "average" car... Because things tend to break less frequently.

Rando, don't give up on this. Do some research and pick the model that makes the most sense. Ask about typical maintenance - not necessarily just on forums, where people are anonymous. Talk to mechanics. This is a good thing to do anyway, since you want one you can trust. Think about taking a shop class at an occupational training center where you can get hands-on with engines (mechanics make $$$$$ by the way, might lead to a good part-time college job). Knowing how to do the maintenance the car needs yourself, and having access to tools and a shop would make your maintenance cost go to parts + free labor. If you level up your knowledge about cars, you could buy, fix and flip cars too.

Just a thought...


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## Trevon (Feb 21, 2017)

Most likely you'd be car poor (spending the majority of your income on your car including gas, insurance, maintenance, etc...).


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## Kimmi (Feb 24, 2017)

need4speed said:


> +1 Even then it may be problematic. the cost for parts, time spent. You are only young once. If it were me I'd buy something more reliable and save the headaches for when you are older.


I have a 2001 330 convertable that someone just totalled I'm interested in purchasing an 2003 325 convertable what parts are interchangeable as I was wondering if buying the totalled 330 back from insurance for 500 would be worth it for replacement parts for the 325 ??? Please help Me

... Ty


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## Reino550 (Mar 23, 2015)

Buy the car. Trust me, it gets harder and harder to justify a sporty coupe as you get older--until you are in your 50's. I had a Porsche 944 when I was just a few years older than you. Yes it was expensive to maintain, but I had plenty of disposable income back then. Now I have a mortgage and a family, and no money for a fun coupe.


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## mark_m5 (Sep 16, 2006)

Kimmi said:


> I have a 2001 330 convertable that someone just totalled I'm interested in purchasing an 2003 325 convertable what parts are interchangeable as I was wondering if buying the totalled 330 back from insurance for 500 would be worth it for replacement parts for the 325 ??? Please help Me
> 
> ... Ty


You can probably get $500 for a few select parts off any BMW that's not mangled beyond recognition, so I'd say that's a no-brainer if you have a place to store the carcass without offending the neighbors. Buy for $500 and part it out. If you don't have a place to put the wreck, I'd let it go and use that $500 for future maintenance on the replacement car.


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## mark_m5 (Sep 16, 2006)

Reino550 said:


> Buy the car. Trust me, it gets harder and harder to justify a sporty coupe as you get older--until you are in your 50's. I had a Porsche 944 when I was just a few years older than you. Yes it was expensive to maintain, but I had plenty of disposable income back then. Now I have a mortgage and a family, and no money for a fun coupe.


Gotta put that family to work so you can get a coupe. :bigpimp:


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