[E90Psycho]

I've been lurking around here for quite a while. I'm 18, finishing HS at a college (-_-) and work at a comp shop. I currently have a '91 MB 300e 2.6 picture(Transmission is shredded up inside, litterally. Thanks MB! ^^) Anyways, a couple weeks ago I went to my local, beautiful, BMW dealer And test drove a 328i, auto, for 33k. (Weird thing is, they checked my license, gave me the keys, and let me drive it off by myself :/ :S).Anyways, point is I freaking FELL IN LOVE WITH THAT CAR! >_< The amazing handling I was empowered with, the beauty, the power, and overall amazing BMW feeling

The salesman then told me he had sold one just like that the previous night to someone with payments of $463 and zero down :/ (I had gotten an 08 Mustang, stock for my birthday with $512 payments monthly, I turned it in... ripoff).

Ok, now to the point of this thread. As school is free, and I work. I don't have anything to spend money on, so the car is a definite possibility. I was looking around and didn't find an exact answer, if you lease a car, I know at the end of the lease you can buy it right? The money you put in, into payments. Does that go into account to reduce the amount of the car or do you just end up paying more? I was interested in a lease due to lower payments, but I DO plan on just keeping the car. I'm lost onto which one to do, ugh.

And for shiz and giggles, is the manual funner?

[E90Psycho]

Originally Posted by SehrSchnell

Good luck. If you can drive manual, I'd say it's most dev. more fun to drive. Especially when compared to the 328i automatic...

However, since you are "only" 18, I'd check with my insurance first before buying a BMW. The car might become a lot more expensive.

But then again, I'm an old fart, and had a piece of shit car when I was your age...

LOL, awww. Yea I checked already, about $300 a month or about $150 for the really cheap stuff :/ Yuck. That's why I'm kind of leaning towards a lease to lower the payments, to make a balance with insurance. I'm wanting to enlist into the Air Force as soon as I can, once I finish HS.

I can't wait to test drive a manual . I like the comfort and all of an auto but I imagine that steptronic is nothing like the real thing eh?

[lkn]

if you can afford the car, then go for it. make sure to prepare yourself for any unexpected events that might occur which will burn a hole in your pocket

[E90Psycho]

Originally Posted by lkn

if you can afford the car, then go for it. make sure to prepare yourself for any unexpected events that might occur which will burn a hole in your pocket

Maintenance wise? :O

[ubern00b]

Mods too

[E90Psycho]

Originally Posted by ubern00b

Mods too

Lmao! Can't wait, I think, I'm going mentally crazy :/. Was up one night til' 4am just reading the brochure booklet...


Am I nuts?

[ZMonkey11]

In a lease, you are paying for the depreciation of the car. Once your lease is up, there will be a residual value of the car. That is how much the car is worth once you have finished your lease. You will pay that amount to own the car. All your other payments don't matter at that point.

[Remonster]

My first car was a '91 300E 2.6 too I know how you feel comparing that against the 328i, definitely go for the manual it's probably the best part about my car if you ask me.

[jasonn]

sounds reasonable. yes, manual is fun to drive and don't worry, its as easy to drive as a civic.

[E90330iS]

Definitely learn manual before you buy the car. I didn't know how to drive stick and never bothered learning and get a Step and wish I had manual everyday.. don't get me wrong, the BMW Step is a very smooth 6-speed autobox but since you are 18 and you enjoy driving the step already you must love it with manual MORE!

[McLuVan]

328 coupe or sedan?

[jimf15e]

I don't want to rain on your parade, but one of your statements is making me do my civic duty. You're in high school and said you plan on enlisting in the USAF after you graduate. Do you know how much an airman basic/E-1 makes? I only say this because I've been in the AF for over 12 years now and you have NO IDEA how many careers I've seen or heard about being ruined for poor financial management. You're being paid to live in a dorm room, on base, and have enough left over for some spending money, food, and basic transportation. NOT to buy a brand new BMW. Granted I don't know your financial situation, but discussing no money down and reducing monthly payments tells me you're looking at financing a significant amount of money. Drive near any base and you'll see more than the fair share of payday loan shops, pawn shops, and used car dealerships offering "No Money Down for E-1 and Above!" They're feasting on young, inexperienced men and women earning their first real paycheck, then blowing it all (and then some) on a car payment and minimum credit card payments.

Please, please, please take a class or two on financial management. Take a breather, enlist, and then see how much money you really have to play with for a car payment. DON'T get into the misery that is credit card debt or upside down car loans. Your comments about monthly payments and lease questions show you don't really understand the concept of debt, time value of money, and lease programs. I congratulate you for asking, but beg you to take your time and investigate all options. Also remember that young, and low income means very high lease or financing rates.

There's a reason the military runs so many campaigns against credit problems, offers classes on financial management, and mandates direct deposit. It's a very common problem unfortunately, and I've seen military members get dishonorably discharged, divorced, sent home from deployments, etc, due to financial problems. It's a golden opportunity to start investing early, signing up for the GI Bill, etc. PM me if you have any questions on finances, military pay, or the AF in general. Good Luck.

Jim

[ENINTY]

Bravo! Well stated. Thanks for your service!

To the OP. Please just buy a used Civic Si until you have established yourself financially. BMW 3 Series are just overpiced small cars and are expensive to own beyond just the car payments.

[E90Psycho]

Originally Posted by ENINTY

Bravo! Well stated. Thanks for your service!

To the OP. Please just buy a used Civic Si until you have established yourself financially. BMW 3 Series are just overpiced small cars and are expensive to own beyond just the car payments.

LOL! No way dude, you scratch the paint off a asian car and underneath it says Coke, or DrPepper, LOL. Dunno, just don't trust the safety in an asian car at all . About financial stuff, oh boy, yes. I've been reading alot over the years and researching, and have learned alot off my parents. And to avoid the mistakes they have done. That's why I was wondering if I should just get a lease meanwhile for the time being. While I finish HS, maybe get some extra credits.

[GMWNashville]

drive a POS till you have some cash in the bank...

[solacebmw]

i agree. its great to want the BMW but I waited till I finish 8 years of school and started working before buying mine. I had an 9 year old accord at your age.

Even with 10 grand down payment and good credit, i had 8% interest rate- meaning $750 monthly payments.

That's the real reality of it! Don't be sucked into an low montly payment. It will add up in the end.

if you're not into Japanese cars, buy an used VW GTI.

[jimf15e]

Leasing is not a very smart option for military personnel. What if you're first assignment is overseas? At a base where the nearest dealer is 2.5 hours away (not uncommon at all)? Are you familiar with the Servicemen's Civil Relief Act? It gets you out of some financial obligations like leases, but only under very specific circumstances. Regardless, you'll be moving a lot in your first few years and mileage can be painfully expensive on a lease. Not to mention do you really want to load all your possessions into your brand new BMW? Depending on your assignment, you may not even be able to drive as a young airman. Leasing may be attractive due to lower initial payments, but you HAVE to look at the whole picture. Leasing is great for specific circumstances, but NOT as your only vehicle to reduce payments. The only way to pay less is to buy less. Period. Dot.

War story: A senior airman (E-3) showed up to work one day driving a lightly used but recently purchased E46. Her boss asked to look at her finances to see how she could afford it. The car went back to the dealer the next day. She lucked out - that's a lot easier than having it reposessed by your creditor.

I bought a used Ford Explorer after I was commissioned as a 2nd Lt and drove it for 11 years before finally being able to afford the S4, and my wife (also a Major) drove her Jetta for years before we were comfortably able to afford her E90.

Some more advice for you to take or leave. Good Luck!