Looking at buying an e92 m3..looking at a few other options though

Engum · 07-03-2014, 02:19 AM

Hi,my name is Daniel and I am new to the forum. I'm really leaning towards buying a black on black 2008 BMW m3..fully loaded with every option (carbon fiber roof, premium 19" wheels, nav, premium sound, ect.) It's from a 3rd party seller on Craigslist but it has been babied, only 37k miles. Current owner has had it for 3 years and has only put 6k miles in that time. Flawless condition and could probably get it for around 37 or 38 (priced at 38,900, but he said he'll go down a bit.) Test drove it the other day and absolutely loved it. Unfortunately the m3 is out of warranty. I plan on getting a 125 point check done at the BMW dealership before purchase, but I am wondering what type of maintenance issues an m3 out of warranty with this milage would have. My aunt has a 328i coupe with 85k miles and has had it since it was new with no major issues..but the m3 is a far more expensive and performance oriented car, so I assume some expensive stuff may need to be done on it. An e93 isn't out of the running either, but i don't like the added weight and slight loss in mpg. Plus, while looking great for a vert, it still doesn't look anywhere as good as the coupe, with the top on that is.

BTW My current daily driver is a 2008 Infiniti g37 coupe with 101k miles, and I am selling it due to the milage. I'm only 20 years old so insurance is a factor, but I'm on a family plan so it's relatively cheap. I'm only paying $100 a month right now for the g37. I'm also not some kid who's mom and dad pay for my car..I'm paying every penny, but they're the cosigner on the loan. I'm blessed enough that my parents pay for rent while I'm in school, and I have a very good serving position in which I make about $20/hr and work 30-40 hours a week.

The other car I'm seriously looking at getting is an Audi s5. IMO it has better exterior styling (slightly) but a far better interior. It has backup cam, nav, Bang & Olfusen sound and all the bells and whistles. The lack of a backup camera in the e92 m3 baffles me, especially since my g37 (which nearly was half as expensive sticker price in 08) has one. I know I can install one and use the ModMyNav software, but that should be at least $600 or $700 extra including install. I don't plan on tracking the m3 and it's going to be my daily driver, and the s5 seems to be a bit more comfortable as a daily driver, but that v8 in the m3 is much faster, but you lose quite a bit of fuel economy with the added performance. Not to mention the steering of the m3 is much better, and I feel much more engaged in the driving experience. The s5 gauges and dash are much much better though. I'm looking at a few s5's.. the one I test drove today was a 2010 s5 premium plus..also black on black, absolutely gorgeous. It's a certified pre owned from the Audi dealership. 53k miles and I could probably get it for $35k. The warranty covers everything besides wear and tear until 100k miles or January 2017. The fact that it's a CPO car intrigues me quite a bit. But for whatever reason, this s5 doesn't have keyless entry/push to start

. I find it ridiculous that Audi makes you get the Prestige package to include a feature that should be standard in any luxury car over $40,000 from 08 and up. My g37 even has keyless entry/ push to start. It's not an absolute deal breaker, but it makes me want to lean towards the m3 a bit more, but the no warranty part scares me a bit. There's another s5 priced about the same that's an 09, but has a custom exhaust, and ringer body kit. Exhaust adds about 18 hp and 12 of torque. Blacked out all around.. grill and wheels powder coated black. Absolutely gorgeous car, and this one has push to start. Has orange napa leather. Easily the best looking out of all 3, but has 65k miles which is a bit much. No warranty either, but the upgrades add up to over $6k with labor and the tune included. 65k miles really isn't much more than 53k, but is quite a bit more than the 37k that the BMW has. Haven't checked it out in person or test driven it yet either, but would be interested to see how the extra 18hp/12tq adds to the performance. Also, AWD isn't a big deal to me at all. I live in central Texas. It doesn't snow here ever.

An outside option would be a 2002 Porsche 911 turbo. Only 27k miles and the asking price is around $43k. A bit out of budget and not something that most people would use as their daily driver, but I only put about 10k miles a year on my cars. Maintenance would be an arm and a leg I could only imagine. Lowest milage out of all of them, best performance, and possibly the best looks (that blacked out s5 might be a bit better looking, though). It also gets fairly good fuel economy for the power, as the twin turbo helps a lot with that. A tad worse mpg than the Audi, but a tad better than the m3. Interior blows and lacks a lot of the features that the BMW and Audi have like nav and all that. It has bose sound with 2 alpine amps added along with a pretty nice alpine head unit that receives SiriusXM, but no screen. Probably holds its value best out of them all, which might make up a bit for the extreme maintenance costs. But I have a feeling the e92 m3's will hold their value quite well especially since they're the only v8 m3 ever made.

There's also a CTS V i had my eye on, but I don't like American cars really. Don't like those huge displacement v8's that much, but the styling and performance in unarguably impressive. Probably not looking to much into one though, since the auto transmissions on those don't have paddle shifters or tiptronic. The Porsche tiptronic is weird..no paddle shifters, just buttons for upshift and downshift on the steering wheel.The m3 has the DCT tranny with paddle shifters of course, and the s5 is tiptronic with paddle shifters. Would like to hear y'all's input on the maintenance cost for an out of warranty m3's and what y'all think about the s5 and the 911. I attached pictures of both on here.

Petros · 07-03-2014, 07:37 AM

Why not keep the G37? They're quite reliable even with high mileage. It seems you're stretching yourself financially to afford those cars

happos2 · 07-03-2014, 08:00 AM

I need cliff notes...

Keep the G37 while you are in school, save your money, and then get a nicer car when out of school.

Rupes · 07-03-2014, 08:16 AM

Is this a dissertation? As others said, I'd keep the G37 in your situation.

Engum · 07-03-2014, 09:00 AM

I've thought about that. But if I keep it another 3-4 years, it will have 130 or 140k miles and not be worth that much. I'm trying to play the value game with it, and right now it's covered by a full warranty through EasyCare so I should be able to get close to $18,000 for it. 3 or 4 years down the road, I'll be lucky to get $11,000 or $12,000 with that type of milage. I'm putting anywhere between $10,000 or $15,000 down on a car this summer so I'm only financing around $20,000 to $25,000 at most. I should be able to pay that off in less than 2 years, while still having one more year of school to save left to save up money for living expenses after grad. I had a $22,000 loan on my g37 (about $20,000 if I pay it off early) and at this rate, I'll have it paid off in probably about 15 months at the most. So like I said, this loan will be paid off well before I graduate. Plus I'll keep whatever car I get now until it gets close to 100k miles. All the cars I'm looking at have low enough miles that they could last me 5-10 years. And by then, I could sell it once it's at 100k miles and get an m4 or rs5 since they'll be much more affordable then.

Darth Federer · 07-03-2014, 09:35 AM

Man I think you are starting adulthood off on a very wrong foot. You're a 20 year old kid in college with a waiters job where you might make $20 an hour on a good day. A new m3 is more than twice your annual salary. Neither your station in life or your current job justifies driving any of these cars. Do you really want to work yourself to the bone and cut out all sorts of fun in other areas of your life at this point so you can roll up to the local frat party in your m3 or Porsche? Living above your means, which any of these car purchases clearly would be, is a very foolish way to go through life. Stressful too. Don't worry about what the Joneses are up to.

EJT86 · 07-03-2014, 10:01 AM

I came from a g37 to an m3 also so I understand why youd want these cars. If it is the case then I agree no point in having a sports car if you work too much to enjoy it. Don't forget the car note isn't the only expense attached to the M. You're losing about 6mpg, my insurance almost doubled and I'm 28, regular maintainence, risk goes up, damage mechanical failure etc regardless of a cars reputation there's always potential for problems

nick3753 · 07-03-2014, 10:19 AM

You are bored. Go workout or something. Keep your G, maybe lightly mod it if bored. I'm 34, household income over 300k, modest house, 1 -6 yr old, mild school loans and just picked up my first "performance" car 2 years ago; A G37 IPL, a lease at that. Still waiting to get my M/AMG/RS level car or equivalent. If you must have more power, then Mustang GT would be the most reasonable option, they even have back up cameras.

On second thought, do whatever the hell you want. I remember wanting a 350z so bad when I was 20 but couldn't afford it. Hated being told by all the "old" farts around me to be patient etc.

dknydiep · 07-03-2014, 11:33 AM

I say do what you want, responsibly of course. Make sure you put aside some savings for investments/retirement, and to buy a house.

Can you find another job in a related field that you're studying? I worked full time in a related industry, went to school full time and got my E46 M when I was 22. I was able to make decent money, and ultimately the experience helped me get a better job once I graduated. I got a house 2 years ago, and only now am I able to afford an E92 M at 28.

I'm not going to say that the maintenance on the E46 didn't hurt, but at the end of the day, it's what I wanted to work hard for. Choose the path that makes the most sense to you financially.

Engum · 07-03-2014, 12:08 PM

Well I'm also in a very good situation in that I won't graduate school with any student loans what so ever since my school is paid through a fund. I'm a mass communication major, specifically public relations and the job field looks pretty good. I work in a semi fine dining restaurant (Pappadeaux, food is expensive as hell) and I can make $30 an hour on a good night. $20 is about average, probably closer to $17 or $18 with taxes taken out. And I'm able to pay about $1000 a month on my loan in the school year while only working about 20 or 25 hours a week, so I'm able to focus on school and still have a great time in college (along with my strict workout regime lol, I actually do workout nick3753). During the summer is when I can really get ahead, as I can work 30-40 hours without any problems and get further ahead on my loan. But I do have a bit of a commute to work (San Marcos to Austin) so the loss of 6 mpg might be kind of big, although I do carpool a lot and my parents live in Austin so I can stay there sometimes. Is it really a difference of 6mpg? I get about 20 or 21 mpg average with my g37 and I know the m3 is rated at 14 and 20, shouldn't it be getting around 17 mpg? The s5 seems to get pretty similar mpg to my g37, and there's another one I'm looking at that's priced at about 31. The loan wouldn't be very big at all and I could probably have that paid off in 15 months easily, so I might lean towards getting that.

But back to one of the main issues, outside of whether I should get the car or not, what kind of maintenance do you think an 08 m3 with only 37k miles out of warranty would have? The audi probably might be a bit cheaper to maintain since it's not as much of a performance car but it will probably go through tires a bit quicker being that it's AWD.

Rupes · 07-03-2014, 01:51 PM

Dude, keep the G37. You're worried about how much a 10 year old car depreciates from 100k miles to 130k miles? It depreciates a whole lot less than anything newer, more expensive and with less miles!

Plus G37 repair costs < anything you are considering, even if they are newer.

That's my suggestion. In the end, I'm sure you'll do whats most satisfying immediately and get a new car.

MNY · 07-03-2014, 02:49 PM

I was just thinking like you were a while ago and people told me the real way to go about doing this. If you can barely afford the price of the initial cost of the car you won't be able to afford the gas, maintenance and insurance of a $70,000 car. You have to keep in mind that although you are buying a used one for 39k you pay the upkeep of a $70,000 car. Invest your money into the stock market and save your money. Once you get a degree and start making good enough money to afford a brand new m3 take your money out of savings put a huge downpayment on the car and live comfortably with a brand new m3

X5-User · 07-03-2014, 09:43 PM

Quote:

Originally Posted by nick3753

You are bored. Go workout or something. Keep your G, maybe lightly mod it if bored. I'm 34, household income over 300k, modest house, 1 -6 yr old, mild school loans and just picked up my first "performance" car 2 years ago; A G37 IPL, a lease at that. Still waiting to get my M/AMG/RS level car or equivalent. If you must have more power, then Mustang GT would be the most reasonable option, they even have back up cameras.

On second thought, do whatever the hell you want. I remember wanting a 350z so bad when I was 20 but couldn't afford it. Hated being told by all the "old" farts around me to be patient etc.

Man in what business are you in? I am definitely in the wrong business..I am making barely over 120k and thought I am earning really good for someone with 10 years of professional experience

F1Venom · 07-03-2014, 10:15 PM

I think you'll like the M3 the most, followed by the S5 then the 996 Turbo (simply because you will hate the maintenance of it).

Rekrul · 07-04-2014, 06:52 PM

Quote:

Originally Posted by nick3753

You are bored. Go workout or something. Keep your G, maybe lightly mod it if bored. I'm 34, household income over 300k, modest house, 1 -6 yr old, mild school loans and just picked up my first "performance" car 2 years ago; A G37 IPL, a lease at that. Still waiting to get my M/AMG/RS level car or equivalent. If you must have more power, then Mustang GT would be the most reasonable option, they even have back up cameras.

On second thought, do whatever the hell you want. I remember wanting a 350z so bad when I was 20 but couldn't afford it. Hated being told by all the "old" farts around me to be patient etc.

300K in cali is like 150k in the midwest... do you have several children or something? How much is your lease ?

I think a new M3 is very doable for a young professional making over 6 figures and not exactly financially unwise... unless you have no idea how to make and balance money.

OP S5 or M3... 996TT is ugly as hell, and marginally out performs the other two.. if at all with the M3. I'd go with the M3. Have you considered the s4 with the supercharged 6? One can have an 11 with fairly low miles with warranty for around 35k.

nick3753 · 07-04-2014, 11:22 PM

Quote:

Originally Posted by Rekrul

Quote:

Originally Posted by nick3753

You are bored. Go workout or something. Keep your G, maybe lightly mod it if bored. I'm 34, household income over 300k, modest house, 1 -6 yr old, mild school loans and just picked up my first "performance" car 2 years ago; A G37 IPL, a lease at that. Still waiting to get my M/AMG/RS level car or equivalent. If you must have more power, then Mustang GT would be the most reasonable option, they even have back up cameras.

On second thought, do whatever the hell you want. I remember wanting a 350z so bad when I was 20 but couldn't afford it. Hated being told by all the "old" farts around me to be patient etc.

300K in cali is like 150k in the midwest... do you have several children or something? How much is your lease ?

I think a new M3 is very doable for a young professional making over 6 figures and not exactly financially unwise... unless you have no idea how to make and balance money.

OP S5 or M3... 996TT is ugly as hell, and marginally out performs the other two.. if at all with the M3. I'd go with the M3. Have you considered the s4 with the supercharged 6? One can have an 11 with fairly low miles with warranty for around 35k.

My point was to be patient, and not to have the view that if you can mathematically afford something you should get it. My lease is just over 600 with 0 down. Could I buy a new M, sure. But I am married with child and it's not just about what I want. We go on nice vacations 2-3x per year, had a pool put in last summer, paying off student debt and other debt from grad school time, saving money etc. Buying a luxury sports car/coupe is a priority for me, but other responsibilities have trumped it. Thus, at the end of my post I said F it and get what he wants before he has similar constraints. Oh and 300k in CA is like 150k thanks to Mr. Obama and friends. Though I live in the Central Valley so the cost of living is no where near that of SoCal and NoCal.

MrPrena · 07-05-2014, 12:36 AM

If you must buy a new car from those list, it would be:
1. M3
2. S5
3, 911 T.

911 Turbo would be real nice, but I don't know if someone wants to spend all the $ to repair the 911 Turbo.

Look at me, my work wage is about $12/hr and only work 7-14hr per week, and bought an M3. My work wage can't even pay for the insurance for 3 vehicles we have.

BOOstJunkee · 07-05-2014, 02:06 AM

At the end of the day, it's you that has to live with the decision. So I'd say go with the car that truly makes you the happiest.
But keep in mind the Maintenance on these cars. You may be able to cover the car note and insurance but you also should have money saved for the upkeep. The better you care for the car, the longer it will last. An M3 can cost quite a dollar for issues and they sometimes come when you least expect it. The S5 being under warranty might be the better option for you. But just keep the Maintenance factor in mind. Good luck

Ezio · 07-05-2014, 02:18 AM

I got my 2013 E92 when i was 21. I work for my dad(i am highly overpaided) and also still in college, loan free let me add. My point being is that i drive a 70k car, and my life style also shows i belong in this car.

If i could barely afford this car, and have to take loans out,work my ass off etc... Its NOT WORTH IT. There are plenty of cars out there that are wayyyy cheaper and still very cool. Take this from someone around your age.

plus you dont want a high mileage or old car. they are trouble man.

Rekrul · 07-05-2014, 02:12 PM

Quote:

Originally Posted by nick3753

My point was to be patient, and not to have the view that if you can mathematically afford something you should get it. My lease is just over 600 with 0 down. Could I buy a new M, sure. But I am married with child and it's not just about what I want. We go on nice vacations 2-3x per year, had a pool put in last summer, paying off student debt and other debt from grad school time, saving money etc. Buying a luxury sports car/coupe is a priority for me, but other responsibilities have trumped it. Thus, at the end of my post I said F it and get what he wants before he has similar constraints. Oh and 300k in CA is like 150k thanks to Mr. Obama and friends. Though I live in the Central Valley so the cost of living is no where near that of SoCal and NoCal.

Yeah that makes sense. One could buy a 1-2 year old pristine M and pay the same amount as your are with your lease. I guess some people prefer brand new cars.

I think 300k has always been 150k in California even prior to Mr Obama and friends, though he certainly wants to make it harder for people making over 250k that's for sure. 300k in parts of the Midwest even after taxes.. for a couple or small family is ALOT granted you don't marry a gold digger.

I'm selfish unmarried, I'm in my late 20's and I have a guaranteed 6 figure job for many years to come and my vice is cars. So.. I tend to splurge. Though I never buy any of these cars new.. as the initial 1-2 year hit doesn't make sense to me. No pun intended.

OP really look into a certified S4 if you're deadset on getting a car. I think its a better fit for you.

JPH704 · 07-05-2014, 03:24 PM

Even if you stretch yourself and pick up an M3/S5, you're still paying maintenance on a 70k car. Keep the G37, finish school and save. Good luck!

MrPrena · 07-06-2014, 12:18 AM

I bought my Mazda RX7 TT during my undergrad years, and I do not regret it at all. Yeah, $42-45k new look cheap now, but 42-45k around 19 years ago is probably close to 85-90k now? (relative to price of fast burgers, precious metals, crude oil, gas, securities, etc etc etc).

That landed me a first sales job at Mazda dealership part time as a sales. Having an RX7 really helped me sell a new/used vehicles..

However, there was price to pay. WORK and SCHOOL. No skiing. No vacation/spring break stuff. No nothing.

07-03-2014, 02:19 AM	#1
Engum New Member 2 Rep 5 Posts Drives: 2008 Infiniti G37 Journey Join Date: Jun 2014 Location: Austin, TX iTrader: (0)	Looking at buying an e92 m3..looking at a few other options though Hi,my name is Daniel and I am new to the forum. I'm really leaning towards buying a black on black 2008 BMW m3..fully loaded with every option (carbon fiber roof, premium 19" wheels, nav, premium sound, ect.) It's from a 3rd party seller on Craigslist but it has been babied, only 37k miles. Current owner has had it for 3 years and has only put 6k miles in that time. Flawless condition and could probably get it for around 37 or 38 (priced at 38,900, but he said he'll go down a bit.) Test drove it the other day and absolutely loved it. Unfortunately the m3 is out of warranty. I plan on getting a 125 point check done at the BMW dealership before purchase, but I am wondering what type of maintenance issues an m3 out of warranty with this milage would have. My aunt has a 328i coupe with 85k miles and has had it since it was new with no major issues..but the m3 is a far more expensive and performance oriented car, so I assume some expensive stuff may need to be done on it. An e93 isn't out of the running either, but i don't like the added weight and slight loss in mpg. Plus, while looking great for a vert, it still doesn't look anywhere as good as the coupe, with the top on that is. BTW My current daily driver is a 2008 Infiniti g37 coupe with 101k miles, and I am selling it due to the milage. I'm only 20 years old so insurance is a factor, but I'm on a family plan so it's relatively cheap. I'm only paying $100 a month right now for the g37. I'm also not some kid who's mom and dad pay for my car..I'm paying every penny, but they're the cosigner on the loan. I'm blessed enough that my parents pay for rent while I'm in school, and I have a very good serving position in which I make about $20/hr and work 30-40 hours a week. The other car I'm seriously looking at getting is an Audi s5. IMO it has better exterior styling (slightly) but a far better interior. It has backup cam, nav, Bang & Olfusen sound and all the bells and whistles. The lack of a backup camera in the e92 m3 baffles me, especially since my g37 (which nearly was half as expensive sticker price in 08) has one. I know I can install one and use the ModMyNav software, but that should be at least $600 or $700 extra including install. I don't plan on tracking the m3 and it's going to be my daily driver, and the s5 seems to be a bit more comfortable as a daily driver, but that v8 in the m3 is much faster, but you lose quite a bit of fuel economy with the added performance. Not to mention the steering of the m3 is much better, and I feel much more engaged in the driving experience. The s5 gauges and dash are much much better though. I'm looking at a few s5's.. the one I test drove today was a 2010 s5 premium plus..also black on black, absolutely gorgeous. It's a certified pre owned from the Audi dealership. 53k miles and I could probably get it for $35k. The warranty covers everything besides wear and tear until 100k miles or January 2017. The fact that it's a CPO car intrigues me quite a bit. But for whatever reason, this s5 doesn't have keyless entry/push to start. I find it ridiculous that Audi makes you get the Prestige package to include a feature that should be standard in any luxury car over $40,000 from 08 and up. My g37 even has keyless entry/ push to start. It's not an absolute deal breaker, but it makes me want to lean towards the m3 a bit more, but the no warranty part scares me a bit. There's another s5 priced about the same that's an 09, but has a custom exhaust, and ringer body kit. Exhaust adds about 18 hp and 12 of torque. Blacked out all around.. grill and wheels powder coated black. Absolutely gorgeous car, and this one has push to start. Has orange napa leather. Easily the best looking out of all 3, but has 65k miles which is a bit much. No warranty either, but the upgrades add up to over $6k with labor and the tune included. 65k miles really isn't much more than 53k, but is quite a bit more than the 37k that the BMW has. Haven't checked it out in person or test driven it yet either, but would be interested to see how the extra 18hp/12tq adds to the performance. Also, AWD isn't a big deal to me at all. I live in central Texas. It doesn't snow here ever. An outside option would be a 2002 Porsche 911 turbo. Only 27k miles and the asking price is around $43k. A bit out of budget and not something that most people would use as their daily driver, but I only put about 10k miles a year on my cars. Maintenance would be an arm and a leg I could only imagine. Lowest milage out of all of them, best performance, and possibly the best looks (that blacked out s5 might be a bit better looking, though). It also gets fairly good fuel economy for the power, as the twin turbo helps a lot with that. A tad worse mpg than the Audi, but a tad better than the m3. Interior blows and lacks a lot of the features that the BMW and Audi have like nav and all that. It has bose sound with 2 alpine amps added along with a pretty nice alpine head unit that receives SiriusXM, but no screen. Probably holds its value best out of them all, which might make up a bit for the extreme maintenance costs. But I have a feeling the e92 m3's will hold their value quite well especially since they're the only v8 m3 ever made. There's also a CTS V i had my eye on, but I don't like American cars really. Don't like those huge displacement v8's that much, but the styling and performance in unarguably impressive. Probably not looking to much into one though, since the auto transmissions on those don't have paddle shifters or tiptronic. The Porsche tiptronic is weird..no paddle shifters, just buttons for upshift and downshift on the steering wheel.The m3 has the DCT tranny with paddle shifters of course, and the s5 is tiptronic with paddle shifters. Would like to hear y'all's input on the maintenance cost for an out of warranty m3's and what y'all think about the s5 and the 911. I attached pictures of both on here. Attached Images
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07-03-2014, 07:37 AM	#2
Petros Banned 62 Rep 1,381 Posts Drives: M3 Join Date: Jan 2014 Location: Canada iTrader: (1)	Why not keep the G37? They're quite reliable even with high mileage. It seems you're stretching yourself financially to afford those cars
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07-03-2014, 08:00 AM	#3
happos2 Dingleberries 76 Rep 1,246 Posts Drives: Gray E92 M3 Join Date: May 2012 Location: Indiana iTrader: (3)	I need cliff notes... Keep the G37 while you are in school, save your money, and then get a nicer car when out of school.
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07-03-2014, 08:16 AM	#4
Rupes Major 1056 Rep 1,459 Posts Drives: F87 M2 (current), E90 330xi (w Join Date: Apr 2013 Location: Oregon iTrader: (0)	Is this a dissertation? As others said, I'd keep the G37 in your situation.
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07-03-2014, 09:00 AM	#5
Engum New Member 2 Rep 5 Posts Drives: 2008 Infiniti G37 Journey Join Date: Jun 2014 Location: Austin, TX iTrader: (0)	I've thought about that. But if I keep it another 3-4 years, it will have 130 or 140k miles and not be worth that much. I'm trying to play the value game with it, and right now it's covered by a full warranty through EasyCare so I should be able to get close to $18,000 for it. 3 or 4 years down the road, I'll be lucky to get $11,000 or $12,000 with that type of milage. I'm putting anywhere between $10,000 or $15,000 down on a car this summer so I'm only financing around $20,000 to $25,000 at most. I should be able to pay that off in less than 2 years, while still having one more year of school to save left to save up money for living expenses after grad. I had a $22,000 loan on my g37 (about $20,000 if I pay it off early) and at this rate, I'll have it paid off in probably about 15 months at the most. So like I said, this loan will be paid off well before I graduate. Plus I'll keep whatever car I get now until it gets close to 100k miles. All the cars I'm looking at have low enough miles that they could last me 5-10 years. And by then, I could sell it once it's at 100k miles and get an m4 or rs5 since they'll be much more affordable then.
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07-03-2014, 09:35 AM	#6
Darth Federer Private First Class 2 Rep 111 Posts Drives: 2012 m3 SSII Metallic Join Date: Apr 2014 Location: Atlanta iTrader: (0)	Man I think you are starting adulthood off on a very wrong foot. You're a 20 year old kid in college with a waiters job where you might make $20 an hour on a good day. A new m3 is more than twice your annual salary. Neither your station in life or your current job justifies driving any of these cars. Do you really want to work yourself to the bone and cut out all sorts of fun in other areas of your life at this point so you can roll up to the local frat party in your m3 or Porsche? Living above your means, which any of these car purchases clearly would be, is a very foolish way to go through life. Stressful too. Don't worry about what the Joneses are up to.
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07-03-2014, 10:01 AM	#7
EJT86 Brigadier General 2383 Rep 3,736 Posts Drives: 2018 M2 Join Date: Mar 2014 Location: Boston, MA iTrader: (0) Garage List [0.00] 2018 BMW M2 [0.00]	I came from a g37 to an m3 also so I understand why youd want these cars. If it is the case then I agree no point in having a sports car if you work too much to enjoy it. Don't forget the car note isn't the only expense attached to the M. You're losing about 6mpg, my insurance almost doubled and I'm 28, regular maintainence, risk goes up, damage mechanical failure etc regardless of a cars reputation there's always potential for problems
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07-03-2014, 10:19 AM	#8
nick3753 Major 1020 Rep 1,486 Posts Drives: 2012 e92 M3 DCT ZCP Join Date: Oct 2010 Location: Michigan iTrader: (0) Garage List 2017 Audi S6 [0.00] 1997 BMW 328i Touring [0.00] 2012 BMW M3 [0.00]	You are bored. Go workout or something. Keep your G, maybe lightly mod it if bored. I'm 34, household income over 300k, modest house, 1 -6 yr old, mild school loans and just picked up my first "performance" car 2 years ago; A G37 IPL, a lease at that. Still waiting to get my M/AMG/RS level car or equivalent. If you must have more power, then Mustang GT would be the most reasonable option, they even have back up cameras. On second thought, do whatever the hell you want. I remember wanting a 350z so bad when I was 20 but couldn't afford it. Hated being told by all the "old" farts around me to be patient etc.
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07-03-2014, 11:33 AM	#9
dknydiep Private 2 Rep 85 Posts Drives: ///M Join Date: Jun 2009 Location: San Jose iTrader: (0)	I say do what you want, responsibly of course. Make sure you put aside some savings for investments/retirement, and to buy a house. Can you find another job in a related field that you're studying? I worked full time in a related industry, went to school full time and got my E46 M when I was 22. I was able to make decent money, and ultimately the experience helped me get a better job once I graduated. I got a house 2 years ago, and only now am I able to afford an E92 M at 28. I'm not going to say that the maintenance on the E46 didn't hurt, but at the end of the day, it's what I wanted to work hard for. Choose the path that makes the most sense to you financially.
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07-03-2014, 12:08 PM	#10
Engum New Member 2 Rep 5 Posts Drives: 2008 Infiniti G37 Journey Join Date: Jun 2014 Location: Austin, TX iTrader: (0)	Well I'm also in a very good situation in that I won't graduate school with any student loans what so ever since my school is paid through a fund. I'm a mass communication major, specifically public relations and the job field looks pretty good. I work in a semi fine dining restaurant (Pappadeaux, food is expensive as hell) and I can make $30 an hour on a good night. $20 is about average, probably closer to $17 or $18 with taxes taken out. And I'm able to pay about $1000 a month on my loan in the school year while only working about 20 or 25 hours a week, so I'm able to focus on school and still have a great time in college (along with my strict workout regime lol, I actually do workout nick3753). During the summer is when I can really get ahead, as I can work 30-40 hours without any problems and get further ahead on my loan. But I do have a bit of a commute to work (San Marcos to Austin) so the loss of 6 mpg might be kind of big, although I do carpool a lot and my parents live in Austin so I can stay there sometimes. Is it really a difference of 6mpg? I get about 20 or 21 mpg average with my g37 and I know the m3 is rated at 14 and 20, shouldn't it be getting around 17 mpg? The s5 seems to get pretty similar mpg to my g37, and there's another one I'm looking at that's priced at about 31. The loan wouldn't be very big at all and I could probably have that paid off in 15 months easily, so I might lean towards getting that. But back to one of the main issues, outside of whether I should get the car or not, what kind of maintenance do you think an 08 m3 with only 37k miles out of warranty would have? The audi probably might be a bit cheaper to maintain since it's not as much of a performance car but it will probably go through tires a bit quicker being that it's AWD.
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07-03-2014, 01:51 PM	#11
Rupes Major 1056 Rep 1,459 Posts Drives: F87 M2 (current), E90 330xi (w Join Date: Apr 2013 Location: Oregon iTrader: (0)	Dude, keep the G37. You're worried about how much a 10 year old car depreciates from 100k miles to 130k miles? It depreciates a whole lot less than anything newer, more expensive and with less miles! Plus G37 repair costs < anything you are considering, even if they are newer. That's my suggestion. In the end, I'm sure you'll do whats most satisfying immediately and get a new car.
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07-03-2014, 02:49 PM	#12
MNY New Member 7 Rep 17 Posts Drives: none Join Date: Nov 2013 Location: ny iTrader: (0)	I was just thinking like you were a while ago and people told me the real way to go about doing this. If you can barely afford the price of the initial cost of the car you won't be able to afford the gas, maintenance and insurance of a $70,000 car. You have to keep in mind that although you are buying a used one for 39k you pay the upkeep of a $70,000 car. Invest your money into the stock market and save your money. Once you get a degree and start making good enough money to afford a brand new m3 take your money out of savings put a huge downpayment on the car and live comfortably with a brand new m3
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07-03-2014, 10:15 PM	#14
F1Venom Banned 73 Rep 961 Posts Drives: ZCP E90 M3 Join Date: Apr 2013 Location: USA iTrader: (0)	I think you'll like the M3 the most, followed by the S5 then the 996 Turbo (simply because you will hate the maintenance of it).
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07-05-2014, 12:36 AM	#17
MrPrena Captain 1588 Rep 803 Posts Drives: BMW Hyundai Nissan Join Date: Jan 2014 Location: TB iTrader: (0)	If you must buy a new car from those list, it would be: 1. M3 2. S5 3, 911 T. 911 Turbo would be real nice, but I don't know if someone wants to spend all the $ to repair the 911 Turbo. Look at me, my work wage is about $12/hr and only work 7-14hr per week, and bought an M3. My work wage can't even pay for the insurance for 3 vehicles we have.
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07-05-2014, 02:06 AM	#18
BOOstJunkee Private First Class 4 Rep 155 Posts Drives: E46 M3 Turbo/335awd Join Date: Oct 2010 Location: Jersey iTrader: (0)	At the end of the day, it's you that has to live with the decision. So I'd say go with the car that truly makes you the happiest. But keep in mind the Maintenance on these cars. You may be able to cover the car note and insurance but you also should have money saved for the upkeep. The better you care for the car, the longer it will last. An M3 can cost quite a dollar for issues and they sometimes come when you least expect it. The S5 being under warranty might be the better option for you. But just keep the Maintenance factor in mind. Good luck
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07-05-2014, 02:18 AM	#19
Ezio Brigadier General 380 Rep 3,934 Posts Drives: 2023 Alfa Romeo, 2023 m240i Join Date: Nov 2012 Location: MI iTrader: (0)	I got my 2013 E92 when i was 21. I work for my dad(i am highly overpaided) and also still in college, loan free let me add. My point being is that i drive a 70k car, and my life style also shows i belong in this car. If i could barely afford this car, and have to take loans out,work my ass off etc... Its NOT WORTH IT. There are plenty of cars out there that are wayyyy cheaper and still very cool. Take this from someone around your age. plus you dont want a high mileage or old car. they are trouble man.
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07-05-2014, 03:24 PM	#21
JPH704 Captain 26 Rep 767 Posts Drives: Huracan Performante & 720s Join Date: Aug 2013 Location: South East iTrader: (18)	Even if you stretch yourself and pick up an M3/S5, you're still paying maintenance on a 70k car. Keep the G37, finish school and save. Good luck! __________________ 2019 McLaren 720s / 2018 Lamborghini Huracan Performante / 2019 Porsche Macan Turbo / 2016 BMW M3/// IG @jon.hagerty
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07-06-2014, 12:18 AM	#22
MrPrena Captain 1588 Rep 803 Posts Drives: BMW Hyundai Nissan Join Date: Jan 2014 Location: TB iTrader: (0)	I bought my Mazda RX7 TT during my undergrad years, and I do not regret it at all. Yeah, $42-45k new look cheap now, but 42-45k around 19 years ago is probably close to 85-90k now? (relative to price of fast burgers, precious metals, crude oil, gas, securities, etc etc etc). That landed me a first sales job at Mazda dealership part time as a sales. Having an RX7 really helped me sell a new/used vehicles.. However, there was price to pay. WORK and SCHOOL. No skiing. No vacation/spring break stuff. No nothing.
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