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      02-12-2013, 08:57 AM   #1
thejamesg
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What's your opinion?

Hey everyone. I'm a recent graduate and working in Montreal,QB, Canada. As you probably know... Cars in Canada are a bit more expensive than over in the states.

I'm in the market for a new car and I'm a big enthusiast for sports cars. I'm having trouble making a decision.

I can get a slightly used 2011 M3 for about 63k in Montreal... And while that's not terrible...I'm really worried about the gas. I don't want to be paying over 1000 bucks on gas a month... More than my car payment... Which really is holding me back... Because I can get a 2011 335 for around 50k...

So I guess what I'm asking... Is if I'm thinking about this cost... Should I not be considering the car at all? Is this car not for me... Am I stretching my financial boundaries if I'm thinking about this?

Thanks guys
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      02-12-2013, 09:00 AM   #2
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You're going to get 2 kinds of responses. 1 from the crew saying that if you're thinking about gas prices and fuel consumption and the costs associated, then this isn't the car for you. The other half will say if it's ultimately what you want, then always go for it.

To me, if you can't afford the fuel costs then don't get the M3. How old are you, 22? You've got PLENTY of time to get an M3 down the road when you are more financially stable.
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      02-12-2013, 09:07 AM   #3
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My worry about the 335 is that it's less reliable than the v8 in the m3 and since im buying used that makes a difference in my eyes. Also- I'm worried that if I drive a 335 I will always beat myself for not picking up the extra gas costs and driving around in an M
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      02-12-2013, 09:08 AM   #4
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Gas is really going to hurt your wallet with an M3.
335i is the way to go.
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      02-12-2013, 09:19 AM   #5
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Bring the car in from the US.
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      02-12-2013, 09:22 AM   #6
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2011 335i with tune, DP, and FMIC will be just as fast as a stock M3 on the streets and it will get close to 30MPG on the highway. The 335i was my first car out of college and I loved it! In fact I loved it so much I bought a CPO one a few months ago and plan on keeping it even after my M3 arrives.
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      02-12-2013, 09:23 AM   #7
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welcome to montreal!!! 91 octane is about 1.50 per litre today! it won't be cheap.
maybe consider an older year m3? like a 2008? i'm sure there's a few clean ones. if you have to stress about car payment, maybe then its not such a good idea.
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      02-12-2013, 09:31 AM   #8
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      02-12-2013, 09:40 AM   #9
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Gas prices are the least of your worries on an M3
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      02-12-2013, 10:14 AM   #10
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Go with the 335i now, you have plenty of time in the future to get an M3.

Big car payment + large gas expense isn't a great idea for a 22 yo, unless mom and dad are still paying your bills...
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      02-12-2013, 10:19 AM   #11
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First thought was, at your age, I'd probably get a BRZ, have fun modding it, and start saving for a house, an M3, the future, etc.

I don't know your situation, though. If you're making enough and have enough in savings to cover the cost of running and maintaining an M3, you'll love it and won't regret it. If you just have enough to buy the car and will be scraping by otherwise, a car like this has the potential to really screw up your financial situation.
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      02-12-2013, 10:22 AM   #12
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Quote:
Originally Posted by thejamesg View Post
My worry about the 335 is that it's less reliable than the v8 in the m3 and since im buying used that makes a difference in my eyes. Also- I'm worried that if I drive a 335 I will always beat myself for not picking up the extra gas costs and driving around in an M
Or you could look at like this. Since you are buying used chances are the guy selling the M drove the shit out of it and the grandma selling the 335 babied it.
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      02-12-2013, 10:31 AM   #13
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Quote:
Originally Posted by catherinelam View Post
welcome to montreal!!! 91 octane is about 1.50 per litre today! it won't be cheap.

be happy you dont live here in Switzerland.... 91 octan is about 1.64 per litre here!!

but i have a daily driver (E39 523i) so it doesnt care me...
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      02-12-2013, 10:40 AM   #14
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Why not go with slightly older M3 to save some money there? Just get the newer nav and LCI tail lights...I think those were 2009 or 2010?

For me, if you have your heart set on the M...why settle =)

Then again, I only use my M for weekend driving so it's not a DD for me...so I don't even pay attention to how much gas I'm using.
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      02-12-2013, 11:13 AM   #15
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      02-12-2013, 11:39 AM   #16
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Figure out your budget. If gas is about $1.50/L ($5.70/gal) then figure out the per mileage cost. If it works for you then have fun.

For me at that gas cost, I average about 14mpg (5.95kpL) with 80% city driving short commutes so that comes out to about $0.40 per mile or $0.25 per km. The true cost of that depends on how much you drive. I only drive about 6 miles round trip per day so it's very worth it to me but if I had a 30-60 mile round trip commute I would not have bought this car.
When I'm out driving just for fun or on a weekend trip, my fuel cost is the last thing on my mind.
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      02-12-2013, 12:48 PM   #17
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You're 22 and a recent graduate, why are you looking to drop 50K - 60K on a car? Do you have a job yet? If so, have you been with the company for more than a year? You need to find stability in your career and in your life first before dropping that much money on a car.

You are a recent graduate, which also means you are the most expendable employee in a company. You're young, in a year or two, you might want to change locations and move to another country to work. For those reasons, I don't think it's a wise financial choice to spend this much money on a car right out of school.

Like others said, gas is the least expensive part of owning a M3. Insurance, maintenance, depreciation (car payment) is what gets you.

Besides, a 22 year old driving a M3, or a 335 for that matter, people automatically assume it's daddy's car.
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      02-12-2013, 02:45 PM   #18
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Thanks for all the inputs.

I'm self employed and making enough such that a total 1,200 \ month payment is less than 15% of my income. I personally don't want to spend more than 600 a month on the finance portion of the car so I do have the appropriate money set aside for down payment whether I go with the M or not.

However... I don't want to be spending over 600$ / month on the gas... Which is what's worrying me. Car + gas I was looking to stay at under 1200. Based on my calculations... I'm looking at about a 1200 $ a month payment on just gas alone assuming the m3 gets about 16l/100 km and I'm driving a lot (for work)

I honestly havnt made a big decision like this in my life yet... I know this is the first of many. I'm leaning towards settling for a 335 and enjoying that for a few years. Thanks for the help.
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      02-12-2013, 02:48 PM   #19
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335 is the way to go OP. if your worried about gas and your going to keep the car for a while maintenance is going to rape you when your warranty runs out.

I spend a ton of money on gas and what blows my mind even more was that 3 months ago I needed new rear tires.You don't want to know how much 2 Michelin pilot super sports cost

Sometimes I even consider a 335. With a good tune you can keep up with an m3 no problem, smaller tires, and so much better on gas.

But make sure you get an is because they are sooo sexy!
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      02-12-2013, 03:12 PM   #20
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Congrats on being self-employed and making good money, OP!

Seems like you've got your head on very straight; best of luck with your decision. Sucks that the price of gas up there is such that it makes getting an M3 such a hard call. Let us know what you end up with.
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      02-12-2013, 03:32 PM   #21
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I'm in camp one, if you can't afford the fuel cost, that type of vehicle is not for you. Really, it's the maintenance cost that you have to be weary of.

I really could care less on my fuel consumption and cost. I just swipe my credit card with indifference b/c I can afford it without thinking twice. (of course, I'm aware of what price I should pay and what's expensive vs. cheaper in my region, my local BP to the west of me is the cheapest, but the Shell to the east is 10 cents more expensive on any given day, US gasoline regional pricing, blah)
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      02-12-2013, 03:39 PM   #22
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Is the 335is available in Canada? Its a happy medium between the two.
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