[ThugzZ BunnY]

You can't lease a used car. I would definitely suggest leasing a new car cause you will get hit very hard with depreciation if you but new. I suggested getting a 2011 335i with cpo coverage. If you have any questions, dm me. I do this for a living so I can give you real info, not just speculation.

[Douche]

Originally Posted by Audaci42

You can't lease a used car. I would definitely suggest leasing a new car cause you will get hit very hard with depreciation if you but new. I suggested getting a 2011 335i with cpo coverage. If you have any questions, dm me. I do this for a living so I can give you real info, not just speculation.

I know you already said I'd be speculating (because I'm not you, and you do this for a living and nobody else), but I'll ask anyway without the fear of being bashed:
- and by leasing he wouldn't be hit by depreciation?

[stewey]

Originally Posted by Douche

I know you already said I'd be speculating (because I'm not you, and you do this for a living and nobody else), but I'll ask anyway without the fear of being bashed:
- and by leasing he wouldn't be hit by depreciation?

I think it was a typo.

[ThugzZ BunnY]

Originally Posted by Douche

I know you already said I'd be speculating (because I'm not you, and you do this for a living and nobody else), but I'll ask anyway without the fear of being bashed:
- and by leasing he wouldn't be hit by depreciation?

You don't have depreciation cause you only pay for the time you own it. I never suggest buying a new car.. Most people that buy new BMW only keep a car for 3-4 years. So you lose your ass when you purchase new and you have a payment the whole time. Leasing gives you the benefit of never paying anything besides you payment. Buy used or lease new. You can find a used version of whatever car you want with just a few thousand miles on it and save about 8 grand.

I've missed you BTW. Where have you been all week? It's been boring around here.

[ThugzZ BunnY]

Originally Posted by Douche

I know you already said I'd be speculating (because I'm not you, and you do this for a living and nobody else), but I'll ask anyway without the fear of being bashed:
- and by leasing he wouldn't be hit by depreciation?

And I'm not saying I'm the only one the knows the right thing to do, but most people are going to suggest what they did without ever experiencing the other options.

[Douche]

Originally Posted by Audaci42

You don't have depreciation cause you only pay for the time you own it. I never suggest buying a new car.. Most people that buy new BMW only keep a car for 3-4 years. So you lose your ass when you purchase new and you have a payment the whole time. Leasing gives you the benefit of never paying anything besides you payment. Buy used or lease new. You can find a used version of whatever car you want with just a few thousand miles on it and save about 8 grand.

I've missed you BTW. Where have you been all week? It's been boring around here.

I've been away for a while... Feeling sad. I think I'm improving, but will post less too, not many people like me here lol

I understand the buy used talk, I like it. But I don't know much about leasing, so this is why I asked. My understanding is that by leasing you are renting the car, basically. But let's say you buy a car new for 60k and keep it for 3 years. And that it depreciates 30k in the 3 years. You could sell the car for 30, and that means you paid 30k/36= 833 a month.

If you lease, you'll pay the same or more sometimes, and your mileage is very limited, and the returning inspection is very thorough (and can cost you money if your car is not 100%).

It's not like you can lease a 60k car for much less than the aforementioned 833 per month anyway for it to be worth it. And then there are the ownership limitations I mentioned. The one reason I never lease is because of the mileage limit. I always go beyond it.

[Rob13567]

Or look up infinti g35/g37(g37 has 335i performance for 328i money) friend gots a g37 coupe it's pretty nice and comes with Nissan reliability. or get an older BMW, I had a e39 528i for 5k sold it for 5k before I got my 335i.

[jgoens]

I think a 335i might be too much of a car for a 16 year old..that kind of power can lead to trouble...not just tickets. If your putting everything you got into this car you might want to think about that.

[stewey]

Originally Posted by Audaci42

You don't have depreciation cause you only pay for the time you own it.

Wow, I really thought you typo'd. Sorry! As I understand it leasing is all about depreciation. You are effectively paying the depreciation + some. Or at least that is how it has always been explained to me.

[GMe90]

You should get a 325. It will be more reliable than a 335i. And even more importantly, at 16 years of age, you need to get some driving experience before you jump into a 335i. It's not a car for a 16 year old to drive unless you are one of those rare kids who is very responsible and will not be speeding or driving recklessly. Most 16 year olds aren't.

[NA Fanatic]

If you've saved up this money yourself for a first car, it's hard to justify a later-model BMW unless you have at least $2,000 for first year repairs/maintenance and a definite way to replinish that for following years. The 325i does sound like a good plan to me for a few reasons, primarily due to its incredibly proven track record as a bulletproof car. Secondly, the prospective (albeit expensive) one is RWD with a 6 speed, meaning there are some inexpensive but effective ways to improve performance as you grow into the car. (A 330-type 3 stage manifold along with an AA tune will have you exceeding 330 performance, and from there an AT car's diff and AA headers should have you plenty satisfied with performance at least for a while.) Tons of straight-line capability in the car you use to first grow your driving ability isn't as great as it seems no matter how much better you drive than the "oops, did I hit something!" drivers you know; I learned that with my first car. Maintenance costs also shocked me, so over-budget--it'll get old with BMW parts costs and complexity discouraging DIY...

Good luck with the search and sorry for N52 rhetoric! I would probably go 325 if I were looking for an E90 at any budget under $20k because you'll find a very good deal on a good one and have plenty left over to add ~60 crank HP reliably (really) and the mods you need to make it stop and handle better than it goes. Okay, I'm finished now.

[ThugzZ BunnY]

Originally Posted by Douche

I've been away for a while... Feeling sad. I think I'm improving, but will post less too, not many people like me here lol

I understand the buy used talk, I like it. But I don't know much about leasing, so this is why I asked. My understanding is that by leasing you are renting the car, basically. But let's say you buy a car new for 60k and keep it for 3 years. And that it depreciates 30k in the 3 years. You could sell the car for 30, and that means you paid 30k/36= 833 a month.

If you lease, you'll pay the same or more sometimes, and your mileage is very limited, and the returning inspection is very thorough (and can cost you money if your car is not 100%).

It's not like you can lease a 60k car for much less than the aforementioned 833 per month anyway for it to be worth it. And then there are the ownership limitations I mentioned. The one reason I never lease is because of the mileage limit. I always go beyond it.

You lease based on residual. Most 3 series have around a 63% residual. Meaning you make payments on 37% of the car over 3 years. So you save on payments and you have a new car every three years. Leasing is good for your average adult who purchases a new BMW. Most of them get a new car every 3-4 years. You purchase a 3 series for 48k and you only pay 3 years of payments. Trade it in and you'll probably get around 23k for it. While you owe roughly 28k. You'll be carrying 4k negative equity into the next car. And that keeps going and going. So for the person that always has a payment, a lease is definitely the best choice. And there isn't some ridiculous inspection when you turn it in. If there aren't dents, cracked windshield, or bad tires, you're OK.

[dreamspeed]

Originally Posted by Douche

I've been away for a while... Feeling sad. I think I'm improving, but will post less too, not many people like me here lol

I understand the buy used talk, I like it. But I don't know much about leasing, so this is why I asked. My understanding is that by leasing you are renting the car, basically. But let's say you buy a car new for 60k and keep it for 3 years. And that it depreciates 30k in the 3 years. You could sell the car for 30, and that means you paid 30k/36= 833 a month.

If you lease, you'll pay the same or more sometimes, and your mileage is very limited, and the returning inspection is very thorough (and can cost you money if your car is not 100%).

It's not like you can lease a 60k car for much less than the aforementioned 833 per month anyway for it to be worth it. And then there are the ownership limitations I mentioned. The one reason I never lease is because of the mileage limit. I always go beyond it.

Actually you do pay a lot less per month when you lease. That's one of the main reasons people lease. So they can get into a more expensive car than they can normally afford.

I'm going to use some some made up numbers to illustrate how lease vs buying works.

If the car is 10k new and you buy it with 0 down on a 3 year loan then you pay 10k/36 = 277 a month. If you lease a 10k car with a 3 year 60% residual that means you are only paying for the 40% depreciation part. Which means you are only paying 4k/36 = 111 per month. This is a very simplified calculation as it doesn't take into account interest and other taxes/fees.

[dreamspeed]

Back to the OP. Never make a large purchase without substantial research. When you are in a rush to buy that's how you end up making poor financial decisions. Take your time to do your homework.

[Efthreeoh]

Originally Posted by Arian

I'm getting a summer job, my parents help me out here and there but I have saved up all my money myself. There are against the idea of me getting a BMW but they understand that I'm really stuck to it so they are willing to help me a little.

OP, these sentences right here tale telling and indicate you are heading down a rabbit hole. You've save up money for a car, and you are going to get a "summer job" to help buy the car. Cars are not a one-time purchase thing like a toy, they keep needing money as long as you use it. Maintenance, fuel, repairs, registration, maintenance, repairs (did I already write that?), and maintenance and repairs. BMWs need more maintenance and repair than the typical car and the repairs are more expensive than a typical car. You need steady income to own a BMW. I'd suggest you get through school, whatever level that will be, get a real job (not a summer job for a 16 year old), and then satisfy your thirst for a BMW. Either that or start learning how to repair the car and perform the maintenance yourself, which BTW takes a few thousand dollars in tools and a decent work space.

Owning a BMW at 16 is not going to impress anyone if you can't afford to own it. If your parents are against you buying a BMW, then I suggest listening to them; they know better. The first time the car breaks and costs hundreds more than what your parents expect it to cost, you'll be in a world of hurt and your relationship with them will change; it's not worth it over a 10-year old car with the BMW Roundel on it.

Good luck.

[Efthreeoh]

Originally Posted by dreamspeed

Actually you do pay a lot less per month when you lease. That's one of the main reasons people lease. So they can get into a more expensive car than they can normally afford.

I'm going to use some some made up numbers to illustrate how lease vs buying works.

If the car is 10k new and you buy it with 0 down on a 3 year loan then you pay 10k/36 = 277 a month. If you lease a 10k car with a 3 year 60% residual that means you are only paying for the 40% depreciation part. Which means you are only paying 4k/36 = 111 per month. This is a very simplified calculation as it doesn't take into account interest and other taxes/fees.

You left out reselling the purchased car after 3 years, which has residual in it, so the $277 is actually less. So if you sell the car in 3 years at 60% of the purchase price... Both cars have the same residual at the re-sale date; either turn in at the lease end, or selling of the used car. Conversely, after 3 years of payments, you own the car free and clear, which it has value to you because you can drive it without a monthly payment. Leasing has been a boon for the automotive manufacturers, to the customers, not so much.

[Socket]

Buy this

[dreamspeed]

Originally Posted by Efthreeoh

You left out reselling the purchased car after 3 years, which has residual in it, so the $277 is actually less. So if you sell the car in 3 years at 60% of the purchase price... Both cars have the same residual at the re-sale date; either turn in at the lease end, or selling of the used car. Conversely, after 3 years of payments, you own the car free and clear, which it has value to you because you can drive it without a monthly payment. Leasing has been a boon for the automotive manufacturers, to the customers, not so much.

Yah assuming you sell the car for 60% residual (6k) then you do end up paying the same amount (4k). But the difference is that in the buy scenario you would have had to pay 277 a month and therefore front the money first before getting it back later when you sell the car.

So even though ultimately you can say you pay 4k total at the end of 3 years in both scenarios you pay less up front leading which is attractive to people.

[MGT81]

Buy a nice E46 330i. Maybe a ZHP car if you can find one

[BMB063]

I'm scared for this guy.

http://www.e90post.com/forums/showthread.php?t=1121874

Even his other post has people urging him to be a little more financially responsible. Best of luck!

[hongsc]

Originally Posted by Gevojanyan

I bought my car off Craigslist and it was owned by a nice gentlemen from the army who took malicious care of it, guess I got lucky....

I hope you meant meticulous. Or you'll have more than the BMW gremlins to deal with.

[M.Power]

Originally Posted by hongsc

I hope you meant meticulous. Or you'll have more than the BMW gremlins to deal with.

Yeah lol... My bad.