Thinking about buying a Used Luxury Car

**Cparsons** · Jan 8th, 2012, 07:11 PM

I recently stumbled across an '04 BMW 325i with 64k miles for sale for $9,400. I need to buy a car, and am thinking about spending $8 to $10k. From what I've seen thus far, there's not much of a premium for a luxury vehicle that's 8 years old. Even Ford's, etc are $8k+...

My question is, should I go with a used luxury car?

It may not be a 325i, I've also seen some good deals on Mercedes Benz C230 and C240. I have no personal (or family) experience with owning a luxury car, but I've read that maintenance costs will be about $2k/year for these vehicles, which I think I could live with.

What luxury brand would be best for my price range?

Ultimately, I'm trying to decide whether having this vehicle now, at age 27, when I'm just starting my journey down the fast-lane will help MOTIVATE me? Or will it DE-MOTIVATE me? I believe it will motivate me, to enjoy something nice like that, and know that I could have much nicer things if I work hard.

What do you think? General thoughts???

**biophase** · Jan 8th, 2012, 07:26 PM

Originally Posted by Cparsons

but I've read that maintenance costs will be about $2k/year for these vehicles, which I think I could live with.

As long as you are ready for things like this. A trip to the Benz or BMW dealer could be costly. I don't know about $2k a year for maintenance. I think it's less than that. Oil changes are $100. Brakes and fluids are normal priced. But if anything goes wrong with the car $2k is probably a good average repair bill.

**Cparsons** · Jan 8th, 2012, 07:34 PM

I think I could live with a $2k repair bill... My main concern is whether owning the car will affect my motivation and is worth the money.

**Steven Williams** · Jan 8th, 2012, 07:37 PM

The deal might be good but you must be prepared for the maintenance cost. These type of cars are expensive to fix. If you have the cash flow for future repairs without setting you back on your business goals...go for it.

**DealMaker** · Jan 8th, 2012, 08:16 PM

I drive an '08 BMW...

They are great cars. If you take good care of them, they can last a long time and hold their resale value pretty well.

With that being said, maintenance costs are something to definitely consider.

I just put 2 new front tires on mine, and they cost over $500. Wiper blades are around $70, and oil changes are spendy.

Is it worth it?

I think so.

My car motivates me, and if you're going to be involved with a business that involves people, networking, etc., it's nice to not have to park your car somewhere around the corner or a few blocks down because it's so shitty you don't want a potential contact, business partner, client, etc. to see it.

On the other hand, a used BMW is not a Lambo...

**dubaismartmoney** · Jan 8th, 2012, 08:27 PM

Yes go for it!

merc, bmw , audi all good brands that are well build

the only thing I tell you is try to stay way from bmw´s because they are the most expensive in services... (from the 3)

I for one, go more for the sport feeling of bmw´s but money wise (services) its better audi or merc.

**CrysAk** · Jan 8th, 2012, 08:31 PM

buying a luxury 2nd hand car you must be either

1. very lucky
2. know how to use a spanner
3. deep pockets for the dealers.

Used luxury cars can be bought dead cheap now, but the parts to fix them are STILL the same price as they were new... so that 5k car your picking up, may need a "little" working doing... at new prices + mechanic time +"im a posh git" vat (thanks BMW/Merc :/)

If it wasn't for my ability to pickup a spanner i wouldn't of been able to afford some of the cars I've had since day 1 of driving, my first car was a merc, then a merc cosworth, then a silly BHP skyline, again for a silvia, crasy spec and now a tidy 5 series ... (btw I'm not from a rich family, or even middle class! so these are luxury items to me and punching well above my weight (sidewalker))

these cars cost HUGE money to maintain, so i hope you either have deep pockets or the ability to sniff out cheap(quality!) parts and fit them yourself.

you'l find doing the oil change yourself will save you *00s of $ but you will damage that "oh so precious" full service history.. but with 2nd hand cars this old... who can really justify a service that costs 1/4 of the car.

also FWIW I;m now selling my cars to live beneath my means to start my business ^^ will miss my shiny pretty cars though

*cough* my 5 series for sale... BMW : Stylish 5 Series Sport - Manual - Leather

i think in your situation, buying a car would be a distraction and a money sink ... what you DON'T have will usually be more a of a motivation to get it, if you have a nice car already, your 1 step closer to being complacent with your life and your work will suffer because of it unless you are extremely motivated and self disciplined

If i were you i would do what I'm currently doing and selling off everything that makes you owe or commit money when you don't NEED it. I plan on using my parents car to zoom about in when i need to, and when i'm in a position to need a car again, i'l buy the cheapest thing i can that will get the job done that it needs to do.

luxury items are just that... luxuries, and unless you've already done what you set out to do, i wouldn't think that its a good time to start rewarding yourself with niceties until you've accomplished what it is you REALLY want

**healthstatus** · Jan 8th, 2012, 08:40 PM

hmmm, you are going to spend $8k for a car and willing to put 25% of that (decreasing value) into maintenance. Doesn't sound fastlane to me. I rather put $600 annually into a car and the $1400.00 into my business, also look at the cost of insuring the luxury car vs a good valued american or asian import.

**SlimTycoon** · Jan 8th, 2012, 08:42 PM

Originally Posted by Cparsons

I think I could live with a $2k repair bill... My main concern is whether owning the car will affect my motivation and is worth the money.

Affect your motivation in what way? To help you to become more motivated or cause you to be less motivated?

**Cparsons** · Jan 8th, 2012, 09:19 PM

Originally Posted by SlimTycoon

Affect your motivation in what way? To help you to become more motivated or cause you to be less motivated?

Right, I'm wondering which one of those 2 is more likely...

**SlimTycoon** · Jan 8th, 2012, 09:26 PM

Originally Posted by Cparsons

Right, I'm wondering which one of those 2 is more likely...

You might feel great for about 4 months. Than it'll be just like driving a Buick after the newness fades.

Is a 325i what you really want?

**Cparsons** · Jan 8th, 2012, 09:27 PM

Originally Posted by CrysAk

these cars cost HUGE money to maintain, so i hope you either have deep pockets or the ability to sniff out cheap(quality!) parts and fit them yourself.

how much would you estimate?

i think in your situation, buying a car would be a distraction and a money sink ... what you DON'T have will usually be more a of a motivation to get it, if you have a nice car already, your 1 step closer to being complacent with your life and your work will suffer because of it unless you are extremely motivated and self disciplined

If i were you i would do what I'm currently doing and selling off everything that makes you owe or commit money when you don't NEED it. I plan on using my parents car to zoom about in when i need to, and when i'm in a position to need a car again, i'l buy the cheapest thing i can that will get the job done that it needs to do.

luxury items are just that... luxuries, and unless you've already done what you set out to do, i wouldn't think that its a good time to start rewarding yourself with niceties until you've accomplished what it is you REALLY want

I'm currently in position to be able to afford a $10k car, along with $2k/yr service costs. If I don't buy this, it will be Honda and so the only real difference is $1k/yr.

I see a pretty big difference between a 9 year old BMW and a brand new Lamborghini, so this isn't going to make me feel like I've made it - it's just a taste of the good life to make me want it even more.

**Cparsons** · Jan 8th, 2012, 09:28 PM

Originally Posted by SlimTycoon

You might feel great for about 4 months. Than it'll be just like driving a Buick after the newness fades.

Is a 325i what you really want?

I'm not sure. I've never test driven one - just love the way they look. Any better suggestions?

**SlimTycoon** · Jan 8th, 2012, 09:39 PM

If you want a 325i and you can EASILY handle the expense. Go for it.

To be honest $10k isn't a lot to spend so that's fine. Take care of it and it will last, that goes for any car.
Oil, tune-up's,etc..will keep your car alive for years.

Enjoy the new Beemer! ;0)

**biophase** · Jan 8th, 2012, 11:38 PM

Originally Posted by Cparsons

I'm currently in position to be able to afford a $10k car, along with $2k/yr service costs. If I don't buy this, it will be Honda and so the only real difference is $1k/yr.

My SUV is worth $5000 and I don't even like putting $250 into it. It's just sunk money. As long as you can stomach it. Sometimes it just feels rough. It's like putting your car up for sale and then finding out it needs brakes. You either lower the price $600 or get them done. It's like losing $600 out of thin air.

If you buy that $10k car and have it for 2 years and put $4k of repairs you'll have $14k into a car that will probably sell for $7k in two years. Are you ready to have something that will cost you $300 a month? If so, then that's fine.

My last benz cost me about $400/mo for the 2 years I've had it (luckily I had a warranty or it would have cost me $750 a month). For the guy I bought it cost him over $1000/mo from the day he bought it.

I think you'd be better off buying a Honda at this point in your life.

**CrysAk** · Jan 9th, 2012, 08:21 AM

Originally Posted by Cparsons

how much would you estimate?

**Cparsons** · Jan 9th, 2012, 09:23 AM

Originally Posted by CrysAk

is it an e46 your after or an e90?

2004 would suggest an e46 facelift model? ... first of all, the better of the e46s and the 325i is a nice model to go for.

however these are plagued with the "VANOS" issues @ about 100k, so try to find one that has already addressed the issue or is WELL under the mileage for it to go pop. as this is an EXPENSIVE fix

From what I can tell, the E90 didn't come out till '05, which is when they stopped making the E46. With a budget of $10k and wanting a car with < 75k miles, I doubt I can find an E90. I googled 'Vanos' and see that is the name of the engine, but didn't see much about systemic issues with it. What more can you tell me? Were these issues fixed in the E90?

Also, I looked at a couple of pictures to see the difference in styling for '03 vs '04, but couldn't spot anything...?

also if you worried about maintenance, that's usually a sign that you cant afford it :S

I don't mind paying extra, but I don't want to pay ridiculously more...

**JackEdwards** · Jan 9th, 2012, 09:34 AM

The BMW 325 from that year is really solid.. I would buy it.. 64k miles.. Unless something major or something stupid happens then I bet you can drive it a few years without anything happening..

Those didnt have all the stupid electronic stuff the more expensive models have.. 9k you cannot go wrong..

**Cparsons** · Jan 9th, 2012, 09:45 AM

Originally Posted by dubaismartmoney

Yes go for it!

merc, bmw , audi all good brands that are well build

the only thing I tell you is try to stay way from bmw´s because they are the most expensive in services... (from the 3)

I for one, go more for the sport feeling of bmw´s but money wise (services) its better audi or merc.

It looks like the Mercedes C Class and the Lexus IS might be in my price range, but I didn't like any of the Audi's in my price range.

Why are BMW's so much more??

**Cparsons** · Jan 9th, 2012, 09:56 AM

I just talked with my local BMW/Mercedes mechanic and he told me to stay away from the BMW 3 and 7 Series, said it requires constant maintenance and to go with a Mercedes or BMW 5 series instead.

As soon as I got off the phone I found a '99 BMW 5 series with < 50k miles for $10k.... (EDIT: had the wrong description, turns out it was a '97 and 7 series... DANG!)

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