buying a used m3

[philingyou]

hi guys,

i got a situation here, and need some help. so im 17 and i recently got into an art college which has the #1 car design program( im trying to become a car designer), the name is Pasadena Art Center. and as a present my grandma is giving me the option to buy any car i would like

so i chose the M3, which ever since i was 12, i rode my cousins m3, and i fell in love with it. but as i was talking to my parents they told me that i cant have it. since im still 17, understandable since its a $6X,000. but i have 2 options, i can either go with a used 02 M3 that the same cousin is willing to sell, and its not stock, it has new wheels, brembo brakes, tints, deleted cats, and much much more. or i can go with a used early 09, that was leased. the guy who leased it was a 56 year old man, and no offense out there i doubt they would floor the car alot.

can anyone help me to choose which is best for my age as well as is it alright to buy a used, leased car? the pricing for the car is 49k but i called up the dealer and asked if he could work his magic. so around low 40's may be the max he's willing to go down, but still its a M3 and who wouldnt floor it.

thanks for you time,
philingyou

[frenchM3dreamer]

tell your grandma to buy you a "regular", 120-150 hp car, and give you the rest in cash to invest in something that wont kill you
a 02 M3 would be sick, a newer 09 would have warranty left, both might be expensive to maintain...

[philingyou]

true very true, but i still want that car, since a car to me means everything.
my cousin says that he invests at least 3 grand to fix the car and maintain it correctly, as well as insurance would cost alot, but if i go with a newer m3 then the insurance would be around the same but i wont have to pay to maintain it, since its up to 100k miles insurance or 4 years. which would be much cheaper, and since i only ask for 4 years, of coverage, i can pay for my self after i get a job.

but anyway, what do you feel about the used leased m3?

[IFX]

is this the first car?

I know you really want the new one, but honestly bro you should start off with the e46m.

(I'm not saying that's a starters car either, but you have the choice)

Don't mistake temptation for opportunity, both cars are fairly powerful and can get you into trouble fairly quickly.

Good luck

[01'325rip]

congrats on art center great school ! post some sketches of your work!

[mot]

Originally Posted by IFX

is this the first car?

I know you really want the new one, but honestly bro you should start off with the e36m.

(I'm not saying that's a starters car either, but you have the choice)

Don't mistake temptation for opportunity, both cars are fairly powerful and can get you into trouble fairly quickly.

Good luck

fixed.

congrats

[mrkhanna16]

get the E9x. your only young once in your life.

[Prince_of_Persia]

Honestly, I would say if you don't get the last NA V8 M3, you will regret it later.

BTW, Congrats for getting into college.

[NYCMCBM3]

congratsz bro on college,good luck with whatever you get

[AlterZgo]

I would never buy a M3 for a 17 yr old... unless you've had extensive experience driving track days, etc. It's a lot of car for someone with just 1 yr of driving experience.

That said, if your grandma's willing to put 400+ hp into your hands anyway, I say go for the 09 M3. You're going to Art Center where you'll be working your ass off. You don't have time to deal with maintenance issues and potential repairs and expenses of a 9 year old car.

[01'325rip]

Originally Posted by AlterZgo

I would never buy a M3 for a 17 yr old... unless you've had extensive experience driving track days, etc. It's a lot of car for someone with just 1 yr of driving experience.

That said, if your grandma's willing to put 400+ hp into your hands anyway, I say go for the 09 M3. You're going to Art Center where you'll be working your ass off. You don't have time to deal with maintenance issues and potential repairs and expenses of a 9 year old car.

good points your life will be dedicated to design 24/7

[AngelinIsRich08]

My son turned 17 last August and I gave him an 09 128i convertible because he got into Washington University in St. Louis which is pretty prestigious. The car was about $45k, had special order chrome wheels that ran over $4k, so that's plenty expensive. My wife and I gave him the option of an E46 M3 but he went with the 1 series. I think for someone of your age a 135i or some 3 series is much more fitting as insurance and repairs are cheaper but if your grandma is nice enough to buy you an E9X M3 then go for it.

[donsgolf2012]

Im 16, and I have a 335i. Go for the 335 and put a tune if you want. And with the left over money, invest it or save, you will be needing it in college.

[piloto]

Seriously, you're not going to have ANY TIME to enjoy any high performance car. That, and since not everyone at school will have a car, you'll likely be getting lots of requests for rides to and from, so get something reliable, cheap, something you're not going to fret over where you park, etc. If the cash is there from grandma, take it and invest it, or if you're parent are more adept at investing, ask them to help you out with how to invest it. Even a CD would suffice.

The only downside is the road up to the Art Center is awesome, and I can see the temptation of driving that everyday in a fun car, but be smart about it. I politely disagree with the "you're young once buy it now" advice. You're young once, so make as wise financial decisions as you can and you will be better off for the rest of your life. A small investment if you ask me.

Lastly, and it sounds like you're family isn't low on cash (more power to them!), school supplies are going to cost more than a E9X M3. Those markers, airbrush, software, clay, etc., that crap is damn expensive.

[Prince_of_Persia]

I don't get it! Read the OP's thread first before jumping here and tell him to buy a cheap car. His grandma will buy him a car. ARE YOU STUPID ENOUGH TO ASK FOR A CHEAP CAR?!

[Mimmer]

im still young early 20's and my parents would buy me one but listen to the older people
unless your loaded. No car is cheap for students. if you look on edmunds.com cost to own over 5 years the true cost is like 10-15k more then the cost you paid for.... it factors in repairs, insurance, gas etc... id say stick to a lower model like 328 or 335 if your driving alot and as a student, you could probably buy new 2009-2011 for that budget. Think about GAS.. and Insurance. if your not paying for any of that then go with M3. but if its between 02 m3 and 09 id go with 09.... if your not considering other cars. but i did a thread on how often people head to gas pump and going every 2-3 days using it as a daily driver thats just hurts thinking about it. (I know people dont buy for the gas milage but as a student i would be...) and i know cali gas aint cheap...

but good luck on the pick , in the end its your call man. thats your gift!

[saeedg48]

get the '09...can you please send my number over to grammy. thanks man

[philingyou]

all these are good points, but out of bmw, i dont find anything similar to the m3. (im a die hard m3) i road in a friends 335is today, and it didnt feel similar to the m3 or even the e46, even though i had a good time up in the hills at Stanford university.

both are great cars, and both will really pull. but would the e9x be a better choice? since maintenance would be free, and insurance would be constant ( if i dont crash it) i feel overall the e9x would be a better choice,
but the fact that its a quite expensive car as well as its 414hp and around 300lb/ft its basically a death gift to me. as a parents perspective would this be a good choice?

also can anyone estimate the monthly payment if the pricing is around 45k and 0 down or msrp payment? ( my parents were never late into paying there bills even their 745 il full options).

thanks alot.

[ddoggm3]

hahaha I live up Page Mill, love the roads up there. You probably flew by my house

If this is your first car, you should probably get a used e46 m3. The e9x M3 can be a lot to handle, and it really is a gas guzzler. I feel like I fill up every other day.

Your monthly payments for a $45k loan will probably be close to $1k.

[donovan]

e46 m3 will be awesome unti you graduate bud, then tell the gramps to buy you the e92 then

[osteome]

Originally Posted by philingyou

its 414hp and around 300lb/ft its basically a death gift to me

Question answered.

Get something "safer" and build some skills (and grammar/punctuation). There is a difference between being a "die hard M3 fan" and a dead former M3 owner.

Either invest the remainder that you "would have spent", if Grandma consents. Bundle that sum with the savings fueling, maintaining, and insuring the E9X and step up when you graduate. Granted, you will be an old man of 21 at that time, but you should at least a few years left to enjoy your dream.

I don't remember having much time during my undergrad to have dedicated any of it to a car like the M3 and its associated upkeep.

Just my two cents.

[radiantm3]

Originally Posted by philingyou

since maintenance would be free, and insurance would be constant ( if i dont crash it) i feel overall the e9x would be a better choice

Don't be fooled by BMW marketing. Maintenance isn't free unless you don't care about the car. Free BMW maintenance means an oil change around every 15k miles. I would not go that long without an oil change on a car like this (unless I was leasing) regardless of what BMW says.