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01-23-2013, 11:43 AM | #1 |
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20 year old, want to buy 2008 e92
I am currently 20 years with a well paid job, I want to put a 10k down payment and I can afford up to 550 a month. Everyone is trying to convince me to get this crazy idea out of my mind, they say what will screw me over is the maintenance on the vehicle. Should I still do it? And around what's the best price I can get for an 2008 ? Any suggestions ? I'm currently living in ORANGE COUNTY CA
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01-23-2013, 12:07 PM | #4 |
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I think it will be close. I think you should consider something with more wiggle room. Everytime I hear someone wanting a 2008 it tells me that they can't afford one so they're looking for the oldest one out there for cheap.
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01-23-2013, 12:12 PM | #5 |
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+1 on the oldest model with the highest miles... and depending on your driving record, your insurance isnt gonna be pretty either.
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01-23-2013, 12:29 PM | #6 |
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Get a 09 or 10 make sure it got extended warranty both powertrain and maintenance and say f**k the rest why not it's your money and if u can do it go for it
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01-23-2013, 12:32 PM | #7 |
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01-23-2013, 12:35 PM | #8 |
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What's the problem with purchasing an 08? The buyer is usually aware that there is some outdated software and a few odds and ends are different. But you're purchasing an m3 that's already depreciated.
Seems more logical for a 20 year old or people of all ages to save that kind of money. |
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01-23-2013, 12:38 PM | #9 |
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I agree with everyone else here... you'd be cutting it pretty close to the bone. That plus gas and insurance will kill ya. If you want an M car, why not get a nice E46 or E36 M3 as a toy to have fun with? Theyre cheaper and they'll give you more wiggle room financially, plus you'd be able to keep your 328 for a daily.
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01-23-2013, 12:40 PM | #10 |
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On paper $550 a month doesn't look to bad but after a year or two of paying that every month you'll probably wish you didn't take on that payment ! But your choice in car is awesome and if you decide to do it you'll definitely love the M3. But like you said maintenance is expensive unless you can do it yourself!
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01-23-2013, 12:42 PM | #12 | |
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01-23-2013, 12:43 PM | #13 |
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Oh and by the way, I'm also 20, have a well-paying job for my age, live in SoCal, and wanted to sell my Jetta to help me get into an E92. I bought an E36 instead, kept my Jetta as a backup sedan car and a good DD (though I never take it anymore, lol) and I am SO happy with it. You're left with so much more money for mods, repairs, whatever you need.
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01-23-2013, 01:08 PM | #14 | |
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01-23-2013, 01:10 PM | #15 | |
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01-23-2013, 01:13 PM | #16 | |
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Approximately after warranty is over how much would I be spending out of pocket on maintenance? |
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01-23-2013, 01:13 PM | #17 |
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Guys I am turning 22 on Friday and just put a 25k down deposit on a 458, it's a lease. My payments will be around $1500 a month and I have to give the car back in 24 months. 3 things; 1) We have winter for about 6/6.5 months a year. 2) I can only afford 3rd party insurance cos obviously I have to continue paying my $1800 mortgage + life insurance. 3) I invested in a company called Arkym and I lost all of my initial investment.
Please advise if this is a good idea or not. It's my dream car, I really want it!!! |
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01-23-2013, 01:14 PM | #18 | |
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01-23-2013, 01:20 PM | #19 | |
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Last edited by Majdnoon; 01-23-2013 at 01:30 PM.. |
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01-23-2013, 01:20 PM | #20 |
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Could you afford the insurance, gas, maintenance, tires, and unknown repairs for this expensive and complex car? All will be much higher than whatever you are paying now.
Out of curiosity, what does it cost for a 20 year old male to have full insurance on a 2008 M3 in California (the lender will require collision as well as liability). $5,000 per year? |
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01-23-2013, 01:22 PM | #21 |
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I agree with MRSSIIM3. But then again, I bought mine and I can't afford it. By far the best poor financial decision I've ever made!
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01-23-2013, 01:24 PM | #22 | |
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