New Car

[gprsh924]

Ok so my dad's 93 bmw 525 is on its last legs. Its coming to the point that my parents are looking to split buying a car with me. After they help out with purchasing it, everything else (insurance, maintenance, etc) will become my responsibility. I would like to get a 3 series for around $15K with around 50k miles on it. However, I could also get something like a Mazda 3 with 20k for the same price with a warranty and everything. What are you're recommendations?

[HardDrive]

Are you in college? If yes, how long until you graduate?

[gprsh924]

I am a sophomore in college currently. To clarify the above post, I would really prefer something with rwd but I am open to suggestions. I am pretty spoiled on cars overall as my first car was an 87 924S and now I am driving the 525. I have about $17K in the bank (obviously I do not want to spend it all, but that is what is available to me). Anyone have any experience with the rx-8, as that seems to be a semi-reasonable trade off?

[old man neri]

I heard the rx-8 engines don't last too long, this is hearsay of course. Might have better luck searching on a mazda board.

Sorry I couldn't be of more help.

My old civic got me through school. Cheap to run and it never fails. Now that I graduated and have more positive cash flow I bought a P car and used the honda as a winter beater. Cars are such a money pit.

[Gogar]

IMO if you have $17K in the bank, look for a car <$10K. Fuch it, <$8.5K.

You'll thank me later. get the car you 'want' after school.

[Chocaholic]

I believe you're asking advice between a $15k 3 series BMW and a new(er) Mazda. Respecting your judgement in terms of expenditures, other responsibilities, etc., I'd have to steer you toward the Mazda. A 3 series BMW (or any used German car) has the potential for unexpected and costly repairs. As a college student, I'm guessing you won't have time or money to deal with such things as you pursue your education and chase women.

I like the newer Mazdas. Good performance, looks, and reliability. Insurance would probably be cheaper and virtually no surprise expenses (warranty). Also, should be pretty easy on gas. Regarding the RX-8, I suspect you'll have to spend more or forego warranty. I've heard that they get poor gas mileage also. Gas isn't getting cheaper. I believe the opposite is true, so you should keep that in consideration. Otherwise, I've heard good things about the car in general.

Best of luck with your decision...

[JeremyD]

I think the depreciation would be greater on the Mazda - I just bought a 325i 2003 for $15,000.
50,000 miles - it has the sport package and the permium package = leather interior - DIY friendly - Should get another 50,000 miles out of it. Alot of car for the money.

The thing about the Mazda is you make payments - at the end of your term - it's worth -0-. With the BMW - you make payments - and it's still worth something.

[sammyg2]

Yes to TOYOTA. No to mazda.

[Porsche-O-Phile]

How the hell does a college student have $17k in the bank?

[many944s]

^ Could be a couple of ways....

A: Student loan money
B: Works while going to school (and doesn't drink)
C: "Slings" goodies
D: Parents.

[Rot 911]

I had a new RX8 and really liked it. However the gas mileage really sucks on that car. 16mpg around town and 22 on the highway. Never had a problem with it. Insurance will kill you with that car too. A Mazda 3 is a great car and looks to me alot like a 3 series BMW. For $15K you should be able to get a one year old Mazda 3 with less than 10K miles on it. Insurance is quite reasonable too.

[SLO-BOB]

Your sig indicates a XTerra. Where is that? Your in college. Save your money for somehing worthwhile like a house. Trust me, in 30 years you'll thank me for this advice.

Buy a nice $5k Honda. Probably outlast all the cars you've mentioned.

Before you scoff, I'm a BMWCCA member for years. I want a new 3. But, I own my house and have all of my neccessities accounted for. I can afford the depreciation and repairs of a BMW.

[Aurel]

Your sig says you already have two cars, an Xterra and a 924. Are you going to sell them? Are you looking at buying third car? Am I missing something here?

Aurel

[RickM]

Originally Posted by SLO-BOB

Save your money for somehing worthwhile like a house. Trust me, in 30 years you'll thank me for this advice.

Buy a nice $5k Honda. Probably outlast all the cars you've mentioned.

+1000 (or get the Toyota)

[Rick Lee]

If you know how to turn a wrench, I find the E46 to be very DIY'able. Parts aren't outrageous unless you get them from the stealer. If you really plan to spend $15k on an E46, you should have no problem finding one. Best scenario would be to find a CPO one with a warranty that lasts until after you've finished school. Plain old maint. on these cars is as easy as it gets.

[JeremyD]

and you'll pull more trim with a bmw (deserved, or not, who cares) - which was a consideration when I was in college.

[gr8fl4porsche]

Good advice above - never spend your savings, it's too hard to replace.

Pick up a cheap car. You can get a nice car after you graduate.

Better yet, screw the car and get a nice bike. Too many opportunities to drink and drive while in college. Of course this plan only works if you live near campus.

[Palum6o]

I recently drove a friend's Mazda 6 and was impressed with the way it handled, drove etc... for the price of that, I don't think you can beat it. I agree with saving as much money as you can. Besides, you should focus on getting laid as much as you can right now.

[Porsche-O-Phile]

Agree with the above, except I'd suggest pretty much any investment OTHER THAN housing at the present time. Start doing some stock trading or something with it that will result in appreciation, not depreciation.

Hell, there are foreign bank accounts that yield a guaranteed 8% return if you know where to look.

Jesus, if I'd had a spare $17k in college, that's what I'd have done. He's in a very advantageous position - he's got about $17k more than I ever had while in college (or graduate school!)

[Palum6o]

I had a piece of crap 3-cylinder Chevy Sprint in college, got it for better reliability and gas mileage than the bug. I then upgraded to a "fancy" '89 Honda Accord. Paid $6500 with 60k miles, drove it for 4 years and put another 60K miles and sold it for $4500. That was the best $2K spent ever. Ironicly though, I got more action in the Sprint than I did the Accord.