Almost traded my 325i for a 328i...

[jszar]

I have had a few problems with my 95 325i since I got it in January this year. Most recent is my A/C is messed up.. so far i've prolly put almost $2k into fixing little things, and a major thermostat, water pump, and radiator swap due to a faulty sensor. I noticed a nice 98 328i at a new Mazda dealership. So I went and checked it out n stuff.

Black leather, and black everything interior. Silver with black trim ext. Sporty BMW rims (forgot the model #). No scratches, or major/minor cosmetic things that I could see wrong. The only thing was the window tint was scratchy, and the motor for the drivers seat wasnt working fully (to move the seat around). A salesman came up to me, I'm 18 btw, and he was about 24. Asked me a few q's, was really nice too. I asked him the mileage and year etc, he didnt know so he said he'd look it up. Meanwhile I am looking and checking the car out. He comes back, and he has the key....lets me take it out for a spin.

I was startled really, I figured they wouldnt let me, no one else has. Let me say, the extra torque is quite cool compared to the 325, not much more power, it just chucks you into your seat a little harder.

88k, nothing wrong. might need a new water pump, thermostat, new seat motor, and new window tint, and the tailight was out. the guy took me inside to look at the numbers, said the inflated price on it was $16k. My trade is worth $5k, and that they'd let me take it with 0 down, $250mnth, for 48 or 60 months, never got a straight answer. they would also pay off the $7k i owe on the 325.

I talked it over with my parents, and they didnt like the idea just cuz they will take over the payment till i get a job in texas. and my payments now are 190. they didnt wanna pay the extra $60 a month. i am still talking with them. it seems like such a good buy for 88k, and $250 a month, plus they'll fix the minor things i picked out.

what are your thoughts? what can i say to convince them, if i should?

 

[knightpitt]

I don't understand from your post how much they're offering you for your car or how much they're asking for the 328i. Understand that $250/month for 48 months is $12k and over 60 months is $15k. Regardless, that's a lot of money.

Personally, I'd stick with the 325i if I were you. You're not even paying for that yourself, and you're asking your parents to pay for a more expensive car for you. And, it's not a good deal or even that much better than your existing car.

When I was 18, I didn't own a car because I couldn't afford one, I worked a lot, but I was saving for college. When I turned 20, I purchased a 1989 Honda Accord (11 years old at the time). That thing was a piece, but I bought it, so I loved it. After making some money in some internships, I bought a '95 2.0L VW Jetta and I still love that thing to death. It's now my 2nd car since I bought my '94 325i. I owe no money on any of my cars now.

I guess my point is that you're very lucky to be driving such a nice car. Perhaps you're not so lucky, though, to be so spoiled (with nice cars) this early. As we all know, cars are a very expensive habit.

The idea that, "oh, this new 328i will only cost me $60 per month more," is really a dangerous line of thinking. It seems to be the new typical line of American thinking: financing everything. You shouldn't finance things that depreciate in value. Starting off being 18 and $7000 in debt is a pretty hefty load. Making that debt larger (by $5k to $8k!)over a very slightly nicer car is just irresponsible. Pay for this car first. Once it gets old, and you have a successful career, you just may have enough stashed away to get a used e46 M3, and pay cash for it.

Oh, and an OBD1 car will end up being much less finicky in the long run than an OBD2 car.

 

[jszar]

heh, i aint spoiled. i work my butt off to pay for this car now, as well as college. i was speculating anyway, if i wanted it and was really stubborn about it, i would have bought it last night. my credit is already good enough without a co-borrower. but i am wise enough to get my parents opinion and include them in the decision. thanks for your input.