# How do you afford your BMW?



## Tiara Brightsab (Sep 15, 2008)

A little personal but I was curious. I have been looking at my finances to see about purchasing a 335 convertible that would be pretty tricked out. Add in sales tax, tags, and extended warranty and it starts to get up there. Even with about a third down, the note would have been high.

Now admittedly, I'm more fiscally conservative with no debt except for my house and saving for my retirement but I still did not feel comfortable floating that kind of note. I am curious how others do it: do you just save up for a long time, get great trade ins with your current cars, don't mind floating high notes, or you're just that well off.

Thanks.


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## Elias (Jun 26, 2005)

I think there are all kinds of people on here that afford their cars in a lot of different ways.
I for one bought what was the best bang for the buck, which I felt was the 535i, I could've bought a more expensive vehicle but chose not too. I've put two kids through college, now its time for me to indulge a little and enjoy the fruits of my labor, money is not an issue. I own my own business and I am very well off, thats how I can afford my BMW.


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## Dyno might (Jul 5, 2008)

I simply live beyond my means.  Seriously though, I like to think of myself as being conservative as well. I have a small mortgage payment and my wife and I each make "ok" money. However, the way I see it, you only live once....you are only young for a short period of time. Enjoy yourself (within reason) while you can. Sure I could have invested the money on other things, but sometimes you just have to say, "[email protected]@@ it" and pull the trigger. Just my .02 :dunno:


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## SkyDog (Aug 1, 2007)

I found a nice low-mileage used one. (They're a lot less expensive after a couple years' depreciation.) I also typically forego extended warranties.


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## gtxragtop (Feb 25, 2008)

Tiara Brightsab said:


> A little personal but I was curious. I have been looking at my finances to see about purchasing a 335 convertible that would be pretty tricked out. Add in sales tax, tags, and extended warranty and it starts to get up there. Even with about a third down, the note would have been high.
> 
> Now admittedly, I'm more fiscally conservative with no debt except for my house and saving for my retirement but I still did not feel comfortable floating that kind of note. I am curious how others do it: do you just save up for a long time, get great trade ins with your current cars, don't mind floating high notes, or you're just that well off.
> 
> Thanks.


Bought a pre-owned 03 530 CPO... Saves lots of $$$


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## cozia83 (Dec 24, 2007)

Leasing. Great deals if you know what all the terms are and what is reasonable to pay. Also, I like to get a new car every few years. We actually calculated that if you keep a car for less than 5 years, it's more profitable to lease than to buy; more than 5 years and you're better off buying.


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## cwsqbm (Aug 4, 2004)

How did I afford my e46? Considering that, even well equipped, it cost less new than my friend's Tahoe, I don't think its a big deal. 

As for the e30, it took a couple months to save up for it.


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## TrebMaxx (Oct 25, 2008)

Although the wife and I make good money and I could of picked one up previously, we are really conservative and we had always planned to retire and travel by age 55. Unfortunately my mother passed away this May. The inheritance received allowed me to get into a BMW. The extra unexpected financial windfall made me say "What the heck, why not?" So I did.


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## Oh haha (Mar 1, 2008)

Bought used. We sold our minivan to offset the cost of our wagon. 

My toy (911) is paid off and we have only monthly bills and 1 credit card. We don't live beyond our means and are probably boring to most people's standards. My wife stays home with the kids so we did not want to get into monthly payments.


TrebMaxx--Sorry to hear of your Mother's passing.


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## sdbrandon (Mar 18, 2006)

Tiara Brightsab said:


> A little personal but I was curious. I have been looking at my finances to see about purchasing a 335 convertible that would be pretty tricked out. Add in sales tax, tags, and extended warranty and it starts to get up there. Even with about a third down, the note would have been high.
> 
> Now admittedly, I'm more fiscally conservative with no debt except for my house and saving for my retirement but I still did not feel comfortable floating that kind of note. I am curious how others do it: do you just save up for a long time, get great trade ins with your current cars, don't mind floating high notes, or you're just that well off.
> 
> Thanks.


In 2007/8, 75% of all BMW's in the U.S. were leased/rented. That should tell you something.

As far as financing goes, a $60k convertible with 1/3 down, is a $40k note. Somewhere around $800 per month.

Personally to me the 3 series is a $30-$40k car and would not by one above $40k. A $60k 335 vert is a $30k car with $30k in options.

For $60k, I would move up the luxury chain. 5 series perhaps.

My advice is to find a used CPO 3 series and stay under $40k. A $60k vert is worth $50k as soon as it is driven off the lot and $40k a year later.


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## mclaren (Jan 5, 2005)

The reason 75% of BMWs are leased is because it is almost always the cheapest smartest way to drive a BMW even if you have millions or billions. I would argue the wealthier people are the more likely they are to lease. As an example I leased a new Z4 in '06 and just turned it in for a new '08 135i vert. The Z4 was close to 50k MSRP and the lease cost less than $500 per month with no money down toward cap cost reduction. The reason the lease was so cheap was because BMWFS had a near 1% money factor and their residual was way too high plus the dealers had incentive money to move them. Their residual was about 30k but the car is worth 22k today if you're lucky. So if you bought it you would be out a lot of money compared to leasing. The new car lease is $471 per month plus tax again with no money down. To get these great leases you have to know about money factors, residuals, lease acquisition fees, doc fees etc on top of negotiating the price of the car which few know including me until I started reading the "Ask-a-Dealer" section several years ago. Anyway I just consider about $500 per month for a car lease as a living expense like groceries or insurance. I would say that if you're worried about affording a BMW you shouldn't get one obviously.


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## chicagofan00 (Feb 10, 2008)

For me, I got an inheritance when my mom passed away which allowed me to put 50% down on a house and fully furnish it with some nice stuff, bought me and my girlfriend a few other nice things, and then also paid for about 70% of my BMW (the rest of the cost of it went onto my HELOC, which is a low interest rate and some of the interest is tax deductible). As for affording in on a daily/monthly/yearly basis I don't have any other debt besides my mortgage and a small amount on my HELOC and I pay my one credit card off fully each and every month.


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## Kamdog (Apr 15, 2007)

Elias said:


> I think there are all kinds of people on here that afford their cars in a lot of different ways.
> I for one bought what was the best bang for the buck, which I felt was the 535i, I could've bought a more expensive vehicle but chose not too. I've put two kids through college, now its time for me to indulge a little and enjoy the fruits of my labor, money is not an issue. I own my own business and I am very well off, thats how I can afford my BMW.


Similar story, I had retired. It was time for me to finally spend the money on me. I no longer put 20k miles a year on a car commuting. I would not consider myself 'well off', but I suppose others might.

I had just finished paying off 3 cars. I gave my daughter my car, sold the car I bought for her, put another 15k down, and went to Europe and did an ED. This note is less than the other 3 notes I had floated for the other cars, and, well, I just worked it into my budget.

At age 57 (at the time) I was at the 'if not now, when' stage. So I bit the bullet (mentally, not financially) and went and spent more than twice what I ever spent on one car in my life.

I have enjoyed every minute of it.


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## fricker66 (Sep 29, 2008)

Similar to many above, bought used. I had just crossed the 10 year mark of having had no car loan payment on my old daily driver. Wasn't really looking but a co-worker came selling so I picked up my 03 ZHP as the "nice family" car and eventual replacement to the old daily driver.


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## Tiara Brightsab (Sep 15, 2008)

Interesting responses so far. It has me thinking.

*I would say that if you're worried about affording a BMW you shouldn't get one obviously.*

I decided to keep saving for a similar reason- if I was thinking this hard about buying the BMW and how much it was, that I wouldn't enjoy it as much as I should. Financially, as long as I keep working (and my job is fairly secure), I could afford it. I make over 100K, save 20% of my gross salary towards retirement, and pay a mortgage. After all of that plus other expenses (including a weekly allowance to spend anyway I want), I clear about 2.3K per month assuming that no unintended expenses occur. So I could float about 800/month (including higher car insurance) but... wow that's one heck of a note. It just seems like a great deal of income to tie up.

My last car payment was $215 for a roughly 14K Nissan. I think I'd be comfortable with a 400 note though. Hmm... stuff to think about.


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## Niftster (Dec 5, 2004)

My highest payment I have ever had was 419 a month. I was making good money then and that still bothered me. Some say you should never own a depretiating asset, and if you listen to the financial gurus, you wonder why anyone spends more than 15 or 20k on any car. I'm basically an horse's arse when it comes to negotiating and buying cars. I've walked out of many places but been polite about it. I have prepared myself though and know what I can afford. 

My method now for budgeting is simple.

I have a rolling budget - forcasted out 18 months in advance in a spreadsheet. Every other month I check then adjust it if necessary. This doesn't include my wife's salary, just mine. 

I list our fixed expenses and then have an amount for each month. Phone, cable, etc. I did stuff like check the average for utility bills over 12 months. What I don't spend I just let ride to the next month.

Then I list all my variable expenses and err on the high side. Clothes, stuff for the kids, I try to factor in vacations and trips, birthdays, Christmas, etc, and plug those numbers in the appropriate months. My wife informed me we're going to Europe this summer, so I've got that figured in now. She uses a Skymiles card for groceries and her gas and pays that off each month, so we're building points for the plane tickets which will be a plus for us. 

Whatever is left over each month, rolls into the next month.

I have two checking accounts and two savings type accounts. I have direct deposit, then keep just $400 a month to carry around or use with my debit card. Everything else is loaded into a second account which keeps the money for the expenses and all the electronic payments - which are a total pain to keep up with. The savings accounts are loaded with the money I'll need for the one time stuff. Since I started doing this, I found I was spending money on a lot of crap I didn't need. 

No matter what I do with the above, I keep a slot for "car budget", which I have set not to exceed 12% of MY monthly take home (Bank rate actually says don't go over 20%, but that's BankRate for you lol). That 12% I'll either use to lease or finance, or just put away for a down payment. I hold back 3% for upkeep, maint, wear and tear, tag renewal, and things like trips to Autozone. Even when I didn't have a payment, I'll still hold back 15%. I was able to buy my wife a car that was a demo a few months back and thought nothing of it, got a 1.9 rate so I put a chunk down and financed the rest. I'll pay a total of about $340 in finance charges over 4 years on her car.

Too many people try to adjust their budget AROUND the car payment - which is a mistake IMO. I know too many who after a year or two dread making payments because they got into something that they really couldn't handle over long term. That's the secret. I don't have a problem with financing, even if it's a depretiating asset, if you get a low enough rate it's a wash not matter how you do it. You just have to be disciplined.


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## Alexbo (Dec 20, 2008)

I'm still poor and fresh out of graduate school, but justifying the Beemer was easy. BMWs have less-than-stellar resale value, so they are relatively cheap after a few years. I was actually originally in the market for a Civic, but I realized that the new Civic retains resale value like crazy, so I couldn't afford the model I wanted --even used. As soon as I noticed that I could get a much nicer BMW for the same price, I changed direction. 

I don't mind spending a few hours in my garage every so often fixing stuff, so inferior reliability is not a deal-breaker, and I don't see a need for paying a premium for a brand new car --of any brand.


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## abe (May 21, 2007)

Tiara Brightsab said:


> Interesting responses so far. It has me thinking.
> 
> *I would say that if you're worried about affording a BMW you shouldn't get one obviously.*


It seems to me there is a huge market for used BMW's, which means there's a lot of people out there that are turning these things over before the warranty runs out (whether it's because of a lease or trade-in). There's a reason for this. The more expensive a car is, the more gadgets it has on it, and the less the long-term reliability it has. Audi, MB, and BMW are not cars you want to own past 100K miles fromw what I've heard. Sure, there are exceptions, but I would wager that most of those are cars that don't have every option in the book and are mostly "mechanical". But when an expert technician states things in an internationally circulated magazine like "if you have a BMW without electrical problems, DON'T MESS WITH IT" it tends to give one pause.

If you want reliable, get a Lexus or Honda. If you aren't worried about such things, there you go.

Now, of the three I mentioned (Audi, MB, BMW) I would say that aftermarket support is best for BMWs. I am a member of BMWCCA, and that combined with this site adds up to a lot. There simply isn't anything out there like this for Audi nor Mercedes. Long term, between those three, I would say BMW is the way to go.

*Disclaimer*: I've been searching for the *right* car for over two years. Haven't found it yet. Hard to find a combination of luxury, features, and reliability. I don't want to pay 60K for a car that is going to cost me an arm and a leg once it is out of warranty.  I typically keep my cars until they fall apart. The odomoter on my Saturn is broken, but I estimate I've put about 220K miles on it. When it dies, I'll go pick up something else. A BMW would be nice, but I'm just not sure.


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## SailinSand (Aug 24, 2007)

Niftster said:


> My highest payment I have ever had was 419 a month. I was making good money then and that still bothered me. Some say you should never own a depretiating asset, and if you listen to the financial gurus, you wonder why anyone spends more than 15 or 20k on any car. I'm basically an horse's arse when it comes to negotiating and buying cars. I've walked out of many places but been polite about it. I have prepared myself though and know what I can afford.
> 
> My method now for budgeting is simple.
> 
> ...


Are you my husband


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## djfitter (Sep 12, 2007)

Kamdog said:


> Similar story, I had retired. It was time for me to finally spend the money on me. I no longer put 20k miles a year on a car commuting. I would not consider myself 'well off', but I suppose others might.
> At age 57 (at the time) I was at the 'if not now, when' stage. So I bit the bullet (mentally, not financially) and went and spent more than twice what I ever spent on one car in my life.
> 
> I have enjoyed every minute of it.


:stupid: Exactly my story, right down to the age. Hope your retirement is going as well as mine, Kam. 

dj


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## gizoto316 (Nov 19, 2008)

Single, no kids


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## djfitter (Sep 12, 2007)

gizoto316 said:


> Single, no kids


Also part of my strategy. 

dj


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## WhiteTrash (Nov 7, 2002)

SailinSand said:


> Are you my husband


:rofl::rofl::rofl:


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## Kamdog (Apr 15, 2007)

djfitter said:


> :stupid: Exactly my story, right down to the age. Hope your retirement is going as well as mine, Kam.
> 
> dj


It is going great. We are headed down for a month or so in Florida soon. :thumbup:


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## Mopho (Dec 21, 2008)

I guess the answer to the original question, would be for the average middle class person still working at 60 years old (me) that life is too short. 
I spent 30 years (yeah, half a lifetime) driving old $hitb-xes to save money, worked on/maintained my own cars (I was a body shop foreman/mechanic) raised my kids and finally said to myself,

*"Self, you have been working on every kind of car your whole life, what is your favorite car ever ?"*

I have driven just about every car/pickup/motorcycle you can think of either test driving a customers car or owning them, and BMW is definately the *"Ultimate Driving Machine".*

Sooo, when I "retired" from the body shop business, I became a Independent Insurance Appriaser working from home, I needed a comfortable reliable car to enjoy driving around for insurance claims.
Bought my first BMW ('84 325e 2D coupe) and ran the wheels almost off of it (sold it at 217,000+ miles for twice what I paid for it, still didn't use any oil) and bought a '88 325i Coupe for $1K that needed a clutch slave and master cylinder. (I just sold it for 1.9 grand at 192K miles)

Then (drum rolll) I saw that my neighbor had a nice little Bimmer called a 318ti Hatchback, and fell in love with it. 
Well, it was black (not a pratical color for getting in and out of every day writing estimates in 100 degree weather) and he wouldn't sell it anyway, so I found a white '96 318ti. This car weighs 300+ lbs. less than a regular 3 series, thus better gas mileage...

That is my present car. Mind you, it has it's glitches, but I can repair most minor problems at home. It's still a better car with 178K than any other car I ever owned...

Then the wife decided she wanted to trade in her '02 Passat GLS turbo (bought new for $28K) and was looking to go into debt again for another $26-30K...... and I found her a '03 325ci coupe premium package/sport suspension beauty with 41,000 miles on it for *$14K*. Immaculate with all service records from a private party.

Now after driving it to work for a week she knows why I have always loved Bimmers.

Sooo, again to answer the question, we all have our reasons and means to buy and love Bimmers. You have to figgure out if it is worth it to you...

I suggest buying (especially if you are not mechanically inclined) a certified used Bimmer or if you can afford it, a new lease. One thing is to figgure out what you want to spend, and shop around. Treat All car dealerships as crooks. They will tack on 41 hundred and 11 different charges unless you are savvy.

I would consider buying a used car from a private party if you have a good reliable mechanic that can check it out for you. You will save the difference between below Low Bluebook and a dealers High bluebook for a returned lease vehicle or trade-in.

Whew! That is all. Good luck finding the right car. Once you drive a Bimmer, you'll never go back to inferiorority.


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## 87vert (May 15, 2008)

Dyno might said:


> I have a small mortgage payment and my wife and I each make "ok" money. However, the way I see it, you only live once....you are only young for a short period of time. Enjoy yourself (within reason) while you can. Sure I could have invested the money on other things, but sometimes you just have to say, "[email protected]@@ it" and pull the trigger. Just my .02 :dunno:


Same here.

Also buy used and save alot.


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## 5647 (Dec 14, 2008)

i just purchased mine. used 2003. great condition, so far pretty happy with it. im just 18 so no investments or bussiness or anything. but i did work long long hours for it. got a part time job while still in school and saved up for a while. finnaly got my first BMW. although i spent almost all my savings to buy it =( , i still think it was worthed since ive ALWAYS wanted to have a bmw. and I had to pay for it myself in full. so thats how i got mine. maybe not a 2008 or 09 but im happy with it, it was worthe every penny. 

hope you get yours soon!


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## 136881 (Nov 12, 2008)

save up money, bought used, paid cash. i dont like loans :bigpimp:


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## AggieKnight (Dec 26, 2008)

There are two ways that I would suggest to drive a bimmer - lease or buy several years old used.

I'm doing the former. 

My wife and I are DINKS, so together we make decent money. I would rather have a nice car than live in a nice house, so I've always driven "nice" cars. Even in college, I worked my butte off to drive a decently fast (though old) spots car. First thing I did when I graduated and started my new job was to buy a brand new car. I always have the compulsion to get the latest newest toy, so the money is pretty well defined in our finances as a fixed item. Hence, leasing is perfect for us. Probably not the smartest thing financially, but you only live once, and if I'm going to live, I'm going to drive a nice car, dangit. 

EDIT - DINKS stands for Duel income no kids.


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## 87vert (May 15, 2008)

AggieKnight said:


> EDIT - DINKS stands for Duel income no kids.


LOL glad you clarified that my first thought was typo for KINKS haha :rofl:


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## msolvi (Jan 10, 2009)

i have always bought used but, with at least 1 or 2 years left within the motorplan which leaves me with a year 'uncovered' - this is because i have never driven a vehicle more than 3 yrs. in this way i get a discounted beemer with good motorplan cover, if necessary i can arrange warrany with other independent insurers to cover big bill items and handle the service from month-to-month to cover once-a-year service (30000km service interval for a beemer).


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## S93D (Apr 24, 2008)

mclaren said:


> The reason 75% of BMWs are leased is because it is almost always the cheapest smartest way to drive a BMW even if you have millions or billions. I would argue the wealthier people are the more likely they are to lease. .


If you take care of your car and plan to keep it 7-10 years, buying makes more sense. It is cheaper to buy a car for that long than to lease 3 cars for that time. If you keep the car for 3 years, it's easier to lease and not significantly more expensive to do so.


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## S93D (Apr 24, 2008)

AggieKnight said:


> EDIT - DINKS stands for Duel income no kids.


:rofl:
I thought it stood for dual income no kids. Duel income is when you battle each other for the most income, as in Alexander Hamilton/Aaron Burr duel.


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## bten (Sep 22, 2002)

I looked at the difference between a new GMC Envoy with Leather and Nav vs. the X5. 

I justified the extra $5000, not the whole price of the car since I was going to buy a new one anyway. I still have the X5 6 years later, doubt that I would have the Envoy....

(did the same thing with my wife's RX. Not much difference in cost between an Eddie Bower Leather Explorer and a Lexus RX.


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## DaGmen (Oct 27, 2007)

I have been changing my car almost every 12-16 months for the last 6/8 years. I started out by buying new cars, quickly learned that was getting expensive!! 
My last 3 cars have all been used or certified used or cars that still have a couple of years left on the factory warranty! 
As many ppl have suggested already go with a CPO car, dont buy a new BMW, they depreciate like crazy!! 

I just bought a CPO 2006 BMW 550i with only 15k miles on it for $36k. This was a $63k car when it was new. 

Hope this helps.


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## Ghost-Flame (Jan 10, 2009)

By Day I am a mild manored realtor. At night I am a jiggalow... hey it pays the bills.

Just kidding. I bought mine with 80,000 miles from a little old lady that drag raced to church on sunday. I haven't owned it long enough to know what the repairs are like but, I got a really great deal about 1/4 the price of new. so we'll see.


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## chicagofan00 (Feb 10, 2008)

DaGmen said:


> I have been changing my car almost every 12-16 months for the last 6/8 years. I started out by buying new cars, quickly learned that was getting expensive!!
> My last 3 cars have all been used or certified used or cars that still have a couple of years left on the factory warranty!
> As many ppl have suggested already go with a CPO car, dont buy a new BMW, they depreciate like crazy!!
> 
> ...


If you change cars that often why not just lease instead of buy (used or new)? :dunno:


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## gtxragtop (Feb 25, 2008)

AggieKnight said:


> There are two ways that I would suggest to drive a bimmer - lease or buy several years old used.
> 
> I'm doing the former.
> 
> ...


Don't the neighbors talk a lot behind your back given that none of them have 2 cars let alone 2 BMWs at the trailer park :wave:


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## Boile (Jul 5, 2005)

Tiara Brightsab said:


> Interesting responses so far. It has me thinking.
> 
> *I would say that if you're worried about affording a BMW you shouldn't get one obviously.*
> 
> ...


You're doing better than most "younger" BMW owners in terms of affording it and I applaud your fiscal conservancy. :thumbup:
My personal measurement is... do I have the disposable cash in the bank? If yes, then I can afford it. Whether I chose to lease or finance is unimportant.
So, do you?
If not, you still can enjoy a BMW. Just get rid of the convertible option. You'll save at least $10K.
Alternatively, get a 1 or 2 year old used. it's a lot cheaper.


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## Meiac09 (Jan 2, 2006)

keep my 40 yo girlfriend happy :bling:


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## rruiter (Feb 10, 2004)

Tiara Brightsab said:


> A little personal but I was curious. I have been looking at my finances to see about purchasing a 335 convertible that would be pretty tricked out. Add in sales tax, tags, and extended warranty and it starts to get up there. Even with about a third down, the note would have been high.
> 
> Now admittedly, I'm more fiscally conservative with no debt except for my house and saving for my retirement but I still did not feel comfortable floating that kind of note. I am curious how others do it: do you just save up for a long time, get great trade ins with your current cars, don't mind floating high notes, or you're just that well off.
> 
> Thanks.


If you don't mind buying a used car, BUy USED. Let someone else take the hit.
Also, DON'T get a loan. Save money yourself first and buy cash (use a credit card and get some freebies out of that too). Feels much better to drive it. Just drive that old car a few years more. It makes much more sense.


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## z06bigbird (Aug 25, 2008)

I eat a ton of Wheaties, kind of like Popeye. No, that was spinach.


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## Tiara Brightsab (Sep 15, 2008)

Right now I'm waiting to see what comes down the pike. A new one is tempting but if I could get a CPO, that would be better since I'd save a ton of cash. The new I-drive I'm sure is nice but 15 to 20K nicer? Nope.


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## BadgelessM3 (Dec 24, 2008)

Sorry to say it but if you need to even ask a question like this I think this car is way out of your budget. A 335 can be anywhere from 35,000$ to 60,000$. I don't think loan companys are handing out that kind of money with the economy like it is. Go for an older Bimmer. Personally I like owning my car from the start and not having to pay someone every month. You can find alot of really sweet BMW's for under 15,000$. Keep looking


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## ProRail (May 31, 2006)

BadgelessM3 said:


> Sorry to say it but if you need to even ask a question like this I think this car is way out of your budget. A 335 can be anywhere from 35,000$ to 60,000$. I don't think loan companys are handing out that kind of money with the economy like it is. Go for an older Bimmer. Personally I like owning my car from the start and not having to pay someone every month. You can find alot of really sweet BMW's for under 15,000$. Keep looking


Anyone who doesn't have to ask this question is making way too much money and shouldn't hang out with us normal people, The OP seems to be doing well enough to buy a BMW. In my case I went for a CPO about to age out of certification, but for somebody who wants the advantages of a new car leasing makes a lot of sense (although maybe not as much as it did for awhile.) A BMW is affordable and a good choice for anybody who expects to be making decent money for the next couple of years. There are many ways to get a Bimmer if a fine car is important to you.


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## IndiansFan (Apr 5, 2006)

I bought both of my BMW's when they were 9 years old with lower than normal mileage. I am the second owner in both cases. I invested in a pre-purchase inspection in both cases. The 535i was purchased from a MB lot. The pre-purchase in that case was from a BMW dealer. I knew that their repairs estimate would be the highest, and to my advantage when I went back to the MB lot. I took the repair estimate from the BMW dealer back to the MB dealer and used their asking price less the estimated repair bill as my starting offer. I was able to "earn" a few thousand dollars that afternoon.

I purchased the 528iT from a private party, who had it serviced by Brett Anderson (Koala Mororsport) for the past several years. His asking price was fair and after Brett did a pre-purchase I bought the car.

I normally set aside a "payment to myself" each month. In the event that either car needs service, I have the funds available. At the end of the year, I go back and look at the expenses for the car. If the expenses exceed my monthly "payment to myself", I look for the next car. This fund is also my cash payment that I use for the purchase of my next car.

I knew that expenses would be higher for BMW than the other marks, but after ten years and 200K miles on the 535i, I still have a smile on my face every time I get in and start it up!

If you can afford a newer used car and the CPO option, I would go that route. If you don't but are still looking for a used BMW then I would go to a reputable BMW independent as a source for information and a pre-purchase inspection. I can't speak for the Atlanta area, but the independents in my area usually know what is for sale locally. I noticed you are from Atlanta. Check the web site www.bimrs.org for a listing of independent BMW mechanics. I think there are several in greater Atlanta. I've learned over 35 years of buying and driving that a pre-purchase inspection is the best investment you can make before purchase.

Badgeless M3 mentioned deals for under $15K, which is very true. Go to Borders, etc. or the library if they have it, and pick up the latest issue of "Bimmer" magazine. You will find a back issues listing on the last few pages. Look thru the listings for each month. Chances are they will have reviewed the car that interests you. Many of the issues will have a Buyers Guide and or Market Update for the various models as well.

Do not limit your self to the Atlanta area in looking for your car. You may find a car thousands of miles away that interests you. Use this online network and other sources (ie bimrs.org) to inspect the car, if it is the one you have decided on. A friend in Cincy, bought an E30 M3 in Denver. Flew out and then spent the next few days enjoying the ride home.

Good luck, and my last advice is to be patient. I looked for about a year before buying the 528iT. It had everything I was looking for (including the 5 speed manual) except for the sport seats.


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## EDubiton (Mar 2, 2009)

I was in the market for a newer car and have always wanted a BMW. Although I live in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comffice:smarttags" /><st1:City w:st="on"><ST1Houston</ST1l </st1:City>my family has always owned European cars growing up (my second car was a 89 Alfa Romeo Milano) so felt this was my way of contributing to the cause. <O</O
<O</O

I found my 04 E46 on Craig***8217;s list and went for it. Now keep in mind that it was already 4 years old so price was substantially lower than a new one and as a result it fell just into my price range.<O</O
<O</O

In all the excitement I was reluctant to take into consideration the additional cost of ownership. I am young and have just recently started my career and I often feel the pinch. I cringe when I see the "Service Engine Soon" light come on and even though I am not afraid to work on cars my self, BMW has a way of making it very difficult (not impossible) for the everyday DIY. The gas is expensive and the overall maintenance of the care is just shy of making me want to beg my boss for his job. Brake pads are expensive and all the little things add up.<O</O
<O</O
But When ever I get discouraged, I grab my keys, hold down that button and open all the windows and sunroof, get on the highway, put in a good CD and just drive. It***8217;s at that moment when I'm passing that last car before a long open stretch that I think to my self, now this is worth it.
<O</O
Everyone has their own reason in life to do the things they do. I did what I did because I LOVE driving. I love the feel of the acceleration; I love the sound the engine makes when I push it. And above all, I love that BMW recognizes that there are people out there who still appreciate a good drive.


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## Tiara Brightsab (Sep 15, 2008)

*Sorry to say it but if you need to even ask a question like this I think this car is way out of your budget. A 335 can be anywhere from 35,000$ to 60,000$. I don't think loan companys are handing out that kind of money with the economy like it is. Go for an older Bimmer. Personally I like owning my car from the start and not having to pay someone every month. You can find alot of really sweet BMW's for under 15,000$. Keep looking*

With respect Badgeless, you would not be correct. I posted my financial situation not too long ago in this thread and I can afford the car (heck, I could afford the note on an M6 'vert) but I want to be smart about my money as well. Looking at a 60K new vs 40K CPO, that extra money could go to something else that would hopefully appreciate as time went on. I want to enjoy my money and, unlike some, I'm not sure how comfortable I would be with a large note. Some people in my situation would have no problem tossing that much money into a car every month and there is nothing wrong with that. I am more fiscally conservative though and just come from another viewpoint.

Best to you and thanks for the buying used advice.


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## BadgelessM3 (Dec 24, 2008)

Depending on the way you drive allso has alot to do with your future car buy. Ask your self how far, how much, and any other time you drive. This will push you in a direction of what kind of BMW would be best for you. I have a 97 E36 M3 5-speed Sedan. I started with a 97 E36 M3 coupe. When I got my recent car I could have bought another coupe but i thought i would be better with the sedan. you know what I love the sedan way better. My point is a car is an asset and not in advestment. that being said buy what will serve you best. and make sure you have enough money in your pocket after you buy so you can take care of the car.


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## whiBMW4d (Mar 1, 2009)

*How?*

I buy used.


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## Tiara Brightsab (Sep 15, 2008)

I'm waiting on a CPO to show up in my area but it seems as if they have all dried up.

*sigh*

Wearing at my nerves.


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## CodyItaliano (Feb 19, 2009)

i've been having everyone ask me this. i guess considering the other 7's i see of the same year are sometimes up near $30000, maybe that is why? plus i'm 22. so i dunno. but i think i got a good deal at $14000. not to mention BMW financial services financed the car for me. not heard of in other car companies. seems that BMW is very confident in their production lineup over the years.


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## Vodka G (Jan 18, 2006)

buy used....and live on top ramen/spam and junk food lolssss


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## taylormiles (Dec 24, 2008)

I paid cash for a 10 year old car.


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## SC4ME (Nov 20, 2007)

I do not lease cars, I buy and drive them forever. All through school, I had either a 1980 Honda Civic (aka POS) or a Honda V65 Magna ( a 1100cc motorcycle). I sold the Civic and bought a brand new 1999 VW Passat V6 manual 5sp. Loved that car as it perfectly served its purpose until 8 years later it was rearended on the freeway by a Dodge Ram 2500 pickup driven by a 19 yo girl :dunno:

Had to get another car quickly. A friend had recently purchased a 5 series wagon through the CPO program. That made me give it a quick look. My only requirements were a manual gearbox. :thumbup: Saw a 330i 6sp manual and went for a test drive. Bought the car upon return using payout from insurance, savings as 50% downpayment and financed the rest since it was @ 2.9%. In the last year and a half, I have put over 36k mi on it and still look forward to driving it every day! 

Obviously, I like to buy cars and drive them. I also do most of my maintenance (except for now - CPO warranty ftw :thumbup: ) but I still had to replace the oils in the engine, ps, tranny and differential. 

As for the financials, both my wife and I are Ph.D. scientists (she is bio-chem I am genetics) and we have one child. Make a decent living, very conservative financially. But since we live in the SF Bay area, the govt thinks we make a too much $$ yet living expenses are not what they are in the rest of the country. Oh well, it is where the work is.


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## jkp1187 (Jul 2, 2008)

Tiara Brightsab said:


> A little personal but I was curious. I have been looking at my finances to see about purchasing a 335 convertible that would be pretty tricked out. Add in sales tax, tags, and extended warranty and it starts to get up there. Even with about a third down, the note would have been high.
> 
> Now admittedly, I'm more fiscally conservative with no debt except for my house and saving for my retirement but I still did not feel comfortable floating that kind of note. I am curious how others do it: do you just save up for a long time, get great trade ins with your current cars, don't mind floating high notes, or you're just that well off.
> 
> Thanks.


1.) Save money.

2.) When enough money is saved to put at least a 50% down payment (minimum) only then do I consider that I can _actually afford_ to buy a given car.

3.) But even if #2 is accomplished, if my current car is less than 100,000 miles or less than 5 years old (assuming it wasn't a lemon,) and as long as it's meeting my needs (note: not _desires_, _needs_,) then I will continue to wait.

Used to be a loan officer. Consumer credit is a game that only banks win, in the long run.


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## AbadSanta (Mar 13, 2009)

Honestly you can get a good e46 post facelift for about $11k-$13k these days. Not bad at all. 

We got our 323 for SUPER cheap because it belonged to a family friend. An added plus was that we helped service and take care of it over the years.

Edit: I steal candy from children and sell it.

Edit again: As everyone else is saying, it's hard to justify getting a new BMW when a used 2006-2007 one is so much less. Example- my dad is trying to talk his brother out of buying a brand new M3 when a perfectly good used one is about 20k less. Unfortunately he's the kind of guy that always wants to have the new toys and be the first guy on the block to have one.


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## SlimKlim (Sep 11, 2008)

AbadSanta said:


> Honestly you can get a good e46 post facelift for about $11k-$13k these days. Not bad at all.
> 
> We got our 323 for SUPER cheap because it belonged to a family friend. An added plus was that we helped service and take care of it over the years.
> 
> ...


Less. You should be able to get a 99-00 Pre-facelift for 8-10k, I picked up my 2003 325i Sport and Premium with 70k miles for 14k last September, in all its facelifty goodness.


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## MikeLogan (Feb 27, 2009)

I don't look at my budget like, "How much of a car can I afford". I just automatically assume my car payment will be a large fraction of my paycheck. Ever since I was 16, I've always had car payments that were higher than normal, so now that I'm 25, 4 cars later, I'm used to car payments being high. Whereas friends of mine who make a similar paycheck to me couldn't possible understand why someone would have a $500+/month car payment, I'm so used to it, it's normal to me. I guess it really comes down to your income, if you can afford it, you can afford it.


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