What Car Options Do I Have?

macncheese

macncheese

249
10
Joined
Jun 1, 2009
Hello NT,
I am here to inquire on some options for getting a car. 

I recently spoke with a co-worker who's moving to NY from Michigan (Where I am) and he wants to sell his Black 2001 BMW 330ci, 150,000 miles on the car but he says he kept up with maintenance, full upkeep of oil changes, coolant system, so on and so forth and wants to sell it for $5000 within the next month. 

Should I consider buying? I will of course check records, vin of the car and get inspections beforehand but initial reaction, would you guys consider buying? I don't have a car and my credit isnt all that to get financed a lot for a car at a dealership, but I could possibly get cosigned for and then get a newer year/model car of a different car company and go that route...

what would you guys do?

Cliffs:

-Need a car

-My credit aint all that

-Co-worker wants to sell his 2001 bmw 330ci 150,000 miles for $5000

-Considering buying co-worker's car or getting a cosigner to get a car more 2-3 times that price of the $5000 bmw
 
A BMW with over 150k miles doesn't sound like a great idea but get a carfax for the car and see what that turns up.
you could probably find a better car on craigslist if your looking to spend 5k on a car.
 
-Co-worker wants to sell his 2001 bmw 330ci 150,000 miles for $5000


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Never buy a car from a friend. Buy a car cash. Get your credit right and secure your future.
 
No matter how cheap, a luxury car is rarely a good buy due to the maintenance cost alone.  Secondly, do NOT have someone cosign for you.  Yes, it's a great deal for you but over 80% of people who need someone to cosign on a loan for them end up defaulting on the not and causing the cosigner to pay for the balance.  Not to mention that car payments are a terrible deal anyways.

If you really need a car, look on craigslist for a cheap car that you can use for a couple years while you save up for something better.
 
Get a used Accord. It will last you longer. If you get the BMW, maintenance would be a lot more expensive too.
 
No matter how much a luxury car has depreciated it is still a luxury car.  If that car cost $40k brand new then the upkeep w/ parts and maintenance will be that of a $40k car not what it is worth now around $5k.

It sounds like you don't have all kinds of free money which is why you are asking the question.  Take it from someone who has owned all kinds of new BMW's it takes a certain person to be able to stomach the repairs.  It isn't IF something will go wrong it is when.

With all that said, I STILL LOVE BMW's and will never own a different vehicle.
 
Dont get the Bimmer.  A friend of mine bought a used 2000 5series with 150k for 4500, put over 3500 into it. Over 8k deep the car was still a total unreliable peice of crap with windows that wouldnt go up or down, faded paint, crap for brakes (abs problem), and a factory alarm that would ONLY go off when you DID NOT need it too. He got so frustrated with the car he sold it on a whim one weekend for less than the 4500 he originally paid.


You live in America, if you want a nice luxo/sporty ride buy a Cadillac or a Lincoln. Preferably a Caddie though
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Lexus is also an affordable option, as is Acura(even though Acura barley count as luxorious or sporty lolz).
 
Get yourself a Silverado. I just got a 2000 for $4600. I had a 91 that went to 340,000 miles on the same engine. My friend has a 2002 that's currently at 280k and still going strong. If you want something that will last you forever for $5000 or less I recommend a pick up truck....Same goes for a Camry, Corolla, Accord and Civic.
 
Honestly, check the carfax and have an independent mechanic go through it. You never know you might find a hidden gem...
 
is the car an automatic? if so, the e46 BMW's have a HUGE problem with the auto transmissions messing up and the reverse going out. If he had it already fixed then you should be good with that, but if not its gonna happen, its a ticking time bomb for the most part. Things like the window regulators, hoses, rubber parts, tstat, radiator, expansion tank, taillights start going out on those cars around that milage, especially the early model e46's. Make sure all the maintenance was done, get records and stuff.
 
if you are tight on money stay away from BMW! they are expensive to maintain and with 150,000 miles its just asking to take a dump..if your tight with money go with a Honda or VW
 
way too many miles
around 150k+ is when the expensive problems start to happen
get an honda, toyota or something
 
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