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I think you have to factor in the area and what kinds of cars others are driving at the school you're going to. If it's the kind of school where there are lots of students with nice cars, it's probably no big deal. If you're headed to a school like I went to that's in a small, humble town, and the students all drive pretty modest cars, a nice late-model Bimmer may be a vandalism magnet, especially if you keep it clean and park it out away from other cars to avoid door dings.
Other factors I'd consider would be whether or not there's a BMW dealer or good indy shop who will be able to service the car near where you'll be living, and whether you're okay with it sitting out in the elements all the time, probably only being washed at whatever car washes are available in the area.
If you're unsure about taking the car there, is it an option to go without the car for a while and see (a)if you feel like you even need it there, and (b)whether or not you feel comfortable having it there as you get to know the school, the area, etc.?
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