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[acidicality]

Congrats on the pickup

I picked up a '09 Infiniti G37 a few months ago and love it. I was considering getting a BMW too, but I wanted a recent used model or the new one. Weighing everything into consideration the Infiniti was better for what I wanted out of my car at this time.

BMWs need to be very properly maintained in order for them to not run into as much trouble, generally speaking. And since yours is an '05 you definitely need to be very aware of that; the maintenance costs could be high.


And I also agree that buying used is definitely the better deal compared to buying new. A new car automatically loses a few thousand bucks when you drive it off the lot; it's definitely wise financially to not have to deal with the worst part of the depreciation curve.

 

[sp1die]

Originally Posted by Al Audi

OP im not even hatin on you at all cuz im all about used cars, but based on what you said i understand what others are saying.

This.
Maintenance costs are a back breaker. Even for people with coin, that's why they get rid of them the second the warranty expires.

If it were a brand of car that is known for reliability, then 90k wouldn't sound so many alarms.

The car does look nice, I pray that you don't run into problem with it, that's all.

 

[10 piece nuggets]

Im all for used cars as well. Some people just want a brand new car for whatever reason. Nothing wrong with that either.

If I was in OP's situation though and I needed a car, id just get something used for cheap, that would be reliable and not cause me any unnecessary expenses that I could use for a new car in December.

Maybe OP bought it to stunt.

 

[PRIME]

Originally Posted by UTVOL23

Originally Posted by PRIME

Originally Posted by UTVOL23

Actually he is fairly correct. A new car depreciates extremely fast and your net worth should be fairly high in order to make that depreciation financially responsible. Buying a year or two old car offsets a large percentage of the intial depreciation. Most people cant afford to have a new car lose 30% of its value in the first two years.

So if you're worth 200-300+ thousand, you can't buy a new Benz?
If you're worth 40-60k you can't buy a new Camry? 

financially it doesnt make sense because of the depreciation you take as soon as you drive it off the lot. You realize that a new camry can run over 30K after taxes etc. that is one years salary

You lose 70% of most cars value in the first 4 years. Not many people can afford to take that kind of lose. Millions of people do it everyday but that doesnt make it financially smart

Yeah I get that, but when you're going to get a car, you're not going in thinking "Man I need to make sure I can support the future value of this car"
They're more than likely thinking "Man I need a new car because my old one is +!!!." 

They just need to get from point A to point B. Yeah you have a lot of people out there just burning money and going back for a new car every 3-4 years, but for the most part, a lot of people keep cars for decades. 10+ years. Getting complete use out of your car makes the money spent much more satisfying. 

I've had my Honda for 6 years now. I got it brand new in 2006 and its now 2012. I will more than likely have this Accord until 2016 and beyond, whether I get a new car or not. It has 122k miles on it and I drive it to death. I'm getting every dime I put into paying for this car back through the years that have passed and years to come. I'm not getting rid of it any time soon. I'm driving it until the wheels fall off (Its been paid off for a while now)

Every decision you make doesn't have to be the "financially" smart decision. If I need a car to drive to work every day then I'm buying a car withing my means of payments. I don't care about losing 70% of its value down the line, because if I can't get to work I'm %*%$#* 

 so a car WILL be driving off the lot. Whether its new or used. If you can fit that payment into your monthly budget with the rest of your bills and still have a separate savings account for leisure and rainy days then %%#* it, get it. 

I completely see your point though. A lot of people are blind when it comes to buying a car. And some people who SHOULD be going used are going new. Cars lose value the moment you drive it off the lot, and if you're getting new cars every couple of years then yeah, I would hope that you have a HEALTHY bank account. 

Its just all different folks different strokes. 

 

[utvol23]

Originally Posted by PRIME

Originally Posted by UTVOL23

Originally Posted by PRIME

So if you're worth 200-300+ thousand, you can't buy a new Benz?
If you're worth 40-60k you can't buy a new Camry? 

financially it doesnt make sense because of the depreciation you take as soon as you drive it off the lot. You realize that a new camry can run over 30K after taxes etc. that is one years salary

You lose 70% of most cars value in the first 4 years. Not many people can afford to take that kind of lose. Millions of people do it everyday but that doesnt make it financially smart

Yeah I get that, but when you're going to get a car, you're not going in thinking "Man I need to make sure I can support the future value of this car"
They're more than likely thinking "Man I need a new car because my old one is +!!!." 

They just need to get from point A to point B. Yeah you have a lot of people out there just burning money and going back for a new car every 3-4 years, but for the most part, a lot of people keep cars for decades. 10+ years. Getting complete use out of your car makes the money spent much more satisfying. 

I've had my Honda for 6 years now. I got it brand new in 2006 and its now 2012. I will more than likely have this Accord until 2016 and beyond, whether I get a new car or not. It has 122k miles on it and I drive it to death. I'm getting every dime I put into paying for this car back through the years that have passed and years to come. I'm not getting rid of it any time soon. I'm driving it until the wheels fall off (Its been paid off for a while now)

Every decision you make doesn't have to be the "financially" smart decision. If I need a car to drive to work every day then I'm buying a car withing my means of payments. I don't care about losing 70% of its value down the line, because if I can't get to work I'm %*%$#* 

 so a car WILL be driving off the lot. Whether its new or used. If you can fit that payment into your monthly budget with the rest of your bills and still have a separate savings account for leisure and rainy days then %%#* it, get it. 

I completely see your point though. A lot of people are blind when it comes to buying a car. And some people who SHOULD be going used are going new. Cars lose value the moment you drive it off the lot, and if you're getting new cars every couple of years then yeah, I would hope that you have a HEALTHY bank account. 

Its just all different folks different strokes. 

Understood but this may be a personal choice but my goal isnt to see what payment I can squeeze into my budget and still pay the rest of my bills. My goal is to not have a payment. If you just use the car to get from point A to point B there are many used cars out there that are reliable and much cheaper than a new camry and they would be an upgrade from the old beater.

Also every decision  you make doesnt have to be financially smart but next to buying a home a car is one of  if not the next biggest purchase people make and a quickly depreciating one at that so for those who are just making ends meet they better make sure they make a smart one. Too many people say hey I make 30K a year but I can squeeze this car payment in. Well thats all good until life throws you an unexpected expense and you wind up not being able to make ends meet. Murphys law

All that being said I really dont think we are disagreeing on many points

 

[cafinest23]

Originally Posted by ninjahood

Originally Posted by CAFinest23

Bruh i've always wanted a BMW myself. One day i'll own one.

used ones are not expensive at all...it all depends on da powertrains.

I want a new one fam. Like an Alpina B7 so therefore it will be awhile. Almost pulled the trigger on a 07 525 awhile back.

 

[helow]

My dad works at BMW so I'm sort of keen to them haha. I loved my e36, if I needed parts it wasn't too bad. Congrats OP, bimmerforums is a great site. I wish I could afford to buy new ones. I hate buying a car and finding out what's wrong with it after the fact... Good luck with your purchase.

 

[drillest]

Ive been reading the last few posts about buying a brand new car and I agree about it losing its value aswell..

but is leasing a car even a benefit to my pockets? All these commercials about leasing a car for $200 or so sounds very enticing

 

[rawsheed]

can someone school me on how to sell your used car? I have no idea on how to go about it, like getting the legal documentation and all that

any links would be nice!

 

[dmoney82]

Originally Posted by 10 Piece Nuggets

Originally Posted by DMoney82

10 Piece Nuggets wrote:
I mean you did try to show off. You say you know nothing about cars, and calling mods "alterations" I believe that you dont know anything. Have fun racing an automatic, which will probably break down even quicker with hard driving.

Like I said, budget ballin.

I said I know nothing about BMW's clown, I made this thread to learn. Budget Balling?  Ok dude,Thanks anyway. Come to get info and it's always some hatin #*% punk #*% like you lurkin

Son, you said alterations like you getting your jeans fixed up.

Cmon now.

Now im a clown cause im posting some sense. Ok, personal attacks now.

That is budget ballin though. You really think people are gonna believe you when you buy a 2005 Bimmer for 16k with 90,000 miles and you say you gonna cop a brand new 2012 in December? Even people with long money dont do stupid !*@ like that.






Wow one lil mistake, I should have said Modifications my G. I don't care or want anybody to believe ++% . My plans are to cop a new one at the end of the year, stupid or not It was my choice. Im cool with it. I think of it as a $15,000 test drive lol. If I'm satisfied with how it performs and maintenance cost... then I'm coppin a new one. But yea yea, thanks tho. Budget Ballin 4 Life sucka!

 

[10 piece nuggets]

Originally Posted by 10 Piece Nuggets


If I was in OP's situation though and I needed a car, id just [color= rgb(255, 0, 0)]get something used for cheap, that would be reliable and not cause me any unnecessary expenses that I could use for a new car in December.[/color]

Maybe OP bought it to stunt.

Quote myself for emphasis.

 

[acidicality]

Originally Posted by drillest

Ive been reading the last few posts about buying a brand new car and I agree about it losing its value aswell..

but is leasing a car even a benefit to my pockets? All these commercials about leasing a car for $200 or so sounds very enticing

Leasing a car is never a good thing to do, in my opinion. It should only be considered if you only plan on driving that car for 2-3 years and/or you can write it off as a business expense.

 

[air spider 777]

GL with the Bimmer OP. Most people on here are only saying 90k mile purchases on a brand like BMW isnt a good idea.

But like I said good luck with it bro.

 

[tsamshox]

If it's CPO with a 2 yr/100k warranty, + the carfax is clean, you good $ with Beamers....just make sure it was a private vehicle and not a loaner/service car...

 

[dmoney82]

Originally Posted by tSamShoX

If it's CPO with a 2 yr/100k warranty, + the carfax is clean, you good $ with Beamers....just make sure it was a private vehicle and not a loaner/service car...

Clean Carfax, one owner. i replaced valve covers when i copped. Only thing I do DO KNOW is that the 545 had issues with them after every 55k miles. 2006 they dropped the 55o and used the E61

 

[crime wave]

Cats always trying to @!++ on BMW as if their reliability is comparable to a 90's Range. You treat the Bimmer right and it'll treat you right. It's not like a Civic that you can beat up everyday. Needs TLC. 

 

[xcautionx]

1.People acting like getting a used Bimmer with high mileage is stupid. If you take care of the car, keep up on maintenance they run forever. If you can't put away 1-5k a year for problems/maintenance then you don't need a Bimmer USED OR NEW

2.Nice pick up to the OP, you most def did not overpay. I just sold my 04 525i. Mine had 104k miles and was still worth almost 13k KBB value. I'm looking soon to get a 06 3 series coupe.

3.Euro > American all day. American cars are garbage. As soon as you start creeping up to 100k miles the car is done. American cars lose their value so fast it's dumb.

 

[Bert.]

Originally Posted by xCautioNx

3.Euro > American all day. American cars are garbage. As soon as you start creeping up to 100k miles the car is done. American cars lose their value so fast it's dumb.

STOP


just stop

 

[xcautionx]

Originally Posted by Zyzz

Originally Posted by xCautioNx

3.Euro > American all day. American cars are garbage. As soon as you start creeping up to 100k miles the car is done. American cars lose their value so fast it's dumb.

STOP


just stop

it's the truth. I drove american cars the first  years of my car owning life. They always broke down, etc... Once I got a BMW I vowed to never go back American. BMW's handle and ride so smooth, American cars don't come close. My girl has a dodge magnum and compared to my BMW it's night and day with driving. Also her car has had many more problems than my 8 yo high mileage Bimmer.

 

[Betonblck]

Originally Posted by xCautioNx

1.People acting like getting a used Bimmer with high mileage is stupid. If you take care of the car, keep up on maintenance they run forever. If you can't put away 1-5k a year for problems/maintenance then you don't need a Bimmer USED OR NEW

2.Nice pick up to the OP, you most def did not overpay. I just sold my 04 525i. Mine had 104k miles and was still worth almost 13k KBB value. I'm looking soon to get a 06 3 series coupe.

3.Euro > American all day. American cars are garbage. As soon as you start creeping up to 100k miles the car is done. American cars lose their value so fast it's dumb.

Just so many things wrong with this post, I almost don't know where to start.

If you are buying a used Bimmer, you don't know how the car was taken care of unless you personally know the owners. If you are buying a high mileage Bimmer, most of these people can't afford to put $1-5K every year into maintenance.  Quite frankly, putting anything near $5K  a year in maintenance is foolish when you can lease a brand new Bimmer for like $500 a month. 

I'm not even going to address number 3 because it's not even worth addressing.  Talking about American cars losing value when your original retail of $60K 5-series is now worth $13K.

 

[sc415]

How's the maintenance for a 7 series?

 

[marcmac360]

Originally Posted by xCautioNx

Originally Posted by Zyzz

Originally Posted by xCautioNx

3.Euro > American all day. American cars are garbage. As soon as you start creeping up to 100k miles the car is done. American cars lose their value so fast it's dumb.

STOP


just stop

it's the truth. I drove american cars the first  years of my car owning life. They always broke down, etc... Once I got a BMW I vowed to never go back American. BMW's handle and ride so smooth, American cars don't come close. My girl has a dodge magnum and compared to my BMW it's night and day with driving. Also her car has had many more problems than my 8 yo high mileage Bimmer.

Your 8 year old BMW likely depreciated faster than her magnum tho. I own a BMW too. While they are extremely stout mechanically, the build on interior pieces or suspension pieces is basura. Rubber bushings fall apart in your hands and plastic pieces that are crucial just snap over time.

 

[teamfrenzy]

Im not too big of a Bimmer person but OP you came out fine. 15k for 545 is not bad.

For all the people complaining that you paid too much, lets see what you can find.

 

[DrizzyNYC]

I'm looking into getting a use car for around 8k was thinking about either a maxima or Altima, input please?

 

[cafinest23]

Lol at people still believing that American cars fail after 100k miles. I had an 89' Mustang 5.0 with 175,000 miles and it didn't have any major issues. As long as the car is properly maintained you'll be fine. Give or take a few lemons.