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Should I get a bimmer? Advice needed
I'm a 17 year old male thinking about getting a used bimmer. I will most likely be living w/ my parents for the next 5 years (I plan to go college here in my own town), so I won't have to pay any rent, clothes, bills, or insurance. I have a job right now and make and average of $220 a week (after taxes). I really wnat to get a 03-04 e46. My dad said if I wanted to get a $25,000 car, he would pay half; So I'd pay probably about $320 a month to own a nice bimmer. (I image the payments would be around $640 or so). So should I go for it? Any advice? thanks
| | Reply » Should I get a bimmer? Advice needed |
In a word, no.
My son is not far from your situation in some respects, although obviously I don't know your exact circumstances.
If it were my son contemplating a loan that would indebt my family by 600+ a month, I would not do it.
My counsel would be to get a late model, possibly off-lease, or at least within 3 years, standard shift Honda Civic.
With gas prices going through the roof, if and when you do decide to leave home (and trust me, you might want to at some point) you will need as low a fixed cost liability at you can get.
This will leave you a margin for the only other intoxicating chemical agent besides gasoline known to affect 17 year old males: perfume. 
| | Reply » Should I get a bimmer? Advice needed |
Yes, get a Bimmer. I'd recommend a later model E30 325, which can be had for less than $5K, and then learn to do common maintenance on it. It will be a fast, cheap, reliable car, and it looks good. BMWs are high performance cars in general, and your budget should have enough slack to account for their higher maintenance needs, so stretching yourself to drive one isn't a good idea, especially for where you are right now. Better to devote yourself to school, and not worry about paying off a car.
--Andre
| | Reply » Should I get a bimmer? Advice needed |
What you need to do, is say you're getting the $25,000 car, and get that "half" down from your dad, and put that down as down payment on a REAL car, an E46 M3, for a lease. That should knock your monthly payment down to about $700/mo. At $220 a week you should make enough to cover the monthly. Register the car under your dad's name so you can afford insurance.
Then what you'll need to do, is drop a supercharger into the M3 to make mad powerz, get a set of lambo doors, 20" chrome spinners, put some Futura or Fuzions on those tight dubs, drop a 14" 8 piston brake kit on the car, and you'll be able to pick up more college girlz than Peter North on Viagra. Use your college loan/tuition to pay for all the mad modz, you don't really need college edumacation anyway, all you need is to start your internet company and you'll instantly make over $200K a year, then sell it 5 years later for bank and retire.
Enjoy it while you can't, don't listen to these old haterz blaber on about being frugal or buying a Honduh or any of that crap. To be a true ballaz you need the tite rides yo. You know what I'm talking about.
| | Reply » Should I get a bimmer? Advice needed |
LOL thanks for the advice HACK. I'll definitely be doing that!
Seriously, at this point in time I really don't have any expenses except gas and I really want to get a nice car.
| | Reply » Should I get a bimmer? Advice needed |
Quote: What you need to do, is say you're getting the $25,000 car, and get that "half" down from your dad, and put that down as down payment on a REAL car, an E46 M3, for a lease. That should knock your monthly payment down to about $700/mo. At $220 a week you should make enough to cover the monthly. Register the car under your dad's name so you can afford insurance.
Then what you'll need to do, is drop a supercharger into the M3 to make mad powerz, get a set of lambo doors, 20" chrome spinners, put some Futura or Fuzions on those tight dubs, drop a 14" 8 piston brake kit on the car, and you'll be able to pick up more college girlz than Peter North on Viagra. Use your college loan/tuition to pay for all the mad modz, you don't really need college edumacation anyway, all you need is to start your internet company and you'll instantly make over $200K a year, then sell it 5 years later for bank and retire.
Enjoy it while you can't, don't listen to these old haterz blaber on about being frugal or buying a Honduh or any of that crap. To be a true ballaz you need the tite rides yo. You know what I'm talking about. | 
For Realz....
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Should I get a bimmer? Advice needed