Help with E92 335i coupe Purchase.

It will be my first purchase (actually a lease and I will take the option to purchase at the end of the lease) of a brand new car. I'm only 19, go to college, and work full time. I feel I deserve the car as I have been busting my hump the past 4 years working. Plus I drive the largest POS currently.

My income is steady and I have been fortunate enough to have been offered a decent starting salary in a friends company so I will be able to afford the payments and insurance each month while being able to save money for a house. I will be putting anywhere from $6000-$7500 down to keep the payments around $500 a month. The options I chose for the car are the sport kit, steptronic automatic transmission, paddle shifters, and comfort access remote. I will be getting the car in black, with black interior, and either the brushed aluminum or gray poplar wood trim. I have a few questions. First does anyone know the accessories that can be put into the car as bmwusa.com does not have them up there and I will not be able to make it down to a dealer for a decent while?

Secondly I am looking to do the car in an all black stealthy/NNO style. I have looked into rims from monet wheels. Particularly the New Age wheels found there>>> http://www.monetwheels.com/ourwheels.asp?wid=2024&cid=135 I would have them in Euro Black but REALLY dont want the chrome lip. Then I saw these >>> http://www.ferrarichat.com/forum/showthread.php?t=138668 . Any idea on what type those are or any recomendations for a similar set of wheels that are all black?

Lastly tires, what should I get for a new set of rims living in NY?


If you have any advice I would gladly take in anything I can learn at the moment.

 

my suggestion is to do jet black with black leatherette. That right there will save you somewhere in the range of $2k. How long do you wanna lease it for? Do you think you could keep it under 10k a year?

 

I am doing the Jet black with black leatherette because there is no need for real leather. The lease will be for 36 months and I will probably go for the 12k option, maybe the 15k option depending on how far my average commute will be for my new job.

Any idea on the accessories or wheels?


Thanks for the help.

 

all of the accessories are useless. I have no idea about wheels.

 

Best advise I can give you is: If you are going to lease, do NOT put any where near that amount of money down just to afford the monthly payment. You are better off keeping the money in the bank or properly invested and paying a little more each month. As far as the 335i goes, it is a great choice, but being 19 you may have some fun paying for insurance on that car! BMW tends to offer some pretty crazy lease specials on certain cars at certain times, so keep your eyes and ears out for some good deals.
As far as accessories/options go, I had a 335i Black/Black 6-spd with all the options and sticker was right around $48,000. Car was too much fun. Your best bet is to keep it a little more simply than that. A sport package is a must, however, finding a car with those other specific options you want, will probably have to be a special order. Just be smart, do not get so excited and buy a car that you can just afford. You have the rest of your life to drive $45,000 BMWs!
Definately speak with Noah (ferrari355fi) as he works for BMW here outside of Philadelphia and will do more then he should to take care of you. He is very knowledgeable and willing to help when it comes to trying to make a deal. Any other questions, just ask. Good luck!
-Marc

 

I'll let you in on a sercet. Multiple security deposits will help you. AND you get the money back at the end of the lease. You can put up to 7 additional security deposits. So you would be putting about $5k down as security deposits. I believe the rate for 335i coupes is .00195. So after all of the security deposits, your rate would be .00146. I personally would put the left over as cash down.

 

Couldn't agree more-I have the leatherette, plastic, vinyl, pleather, whatever you want to call it and it is great-just wipe down with a damp sponge and you're good to go....

 

I'm not saying don't get a 335i if that's your heart's content, but I would strongly recommend you consider a used M3 - the early E46 coupes are hitting the mid $20k's and with the $5-7k down you're talking about it would only be $400/mo to BUY it instead of leasing. More peace of mind about mileage and small damage, and at the end of 5 years you could probably get $15-18k back out of it.

Don't think I'm trying to be condescending - I went a bought a brand new car within weeks of graduating college too, and in hindsight the depreciation wasn't great. Granted, it was under warranty for most of the time I had it and nothing broke (Subaru), but I am back to looking for mostly depreciated cars.

 

$400/month to buy? You crazy. Also, early E46 M3s can be troublesome.

 

Why is that crazy?

 

I would love to see him get a finance rate at 19 years old on an E46 M3 that would get him $400/month

 

Ah. I thought that you meant paying $400/mo was crazy - I was thinking he wants to pay $500 now! Even if he got a 10% rate putting $7k down and financing $20k, wouldn't it be around $440/mo? Then again, that doesn't leave much for repairs,which may be included with the lease.

Yeah, credit might be catch if he doesn't have a history. But could he get a lease then without similar credit history?

 

consignment from his parents.


The thing is, BMW thinks of it like,

"hmm 19 yrs old, college and part time worker, wants to lease this car for 36 months at $500/month where at the end of the lease bmw can potentially get his car back and make more money off of it, is putting down ______ dollars, parents have good credit and a nice income. Approved."

or

"19 yrs old, college and part time worker, wants to finance this car for ____ months and after that he owns the car outright, parents are cosigning because he is not a full time worker and his income is too low and he has no credit history, is putting down $7500. Denied, unless he is willing to put down $10k at 19% because the risk of him not paying is high."

 

Get a CPO E46

 

I have a E46 M3 and had a 335i already and I'll be perfectly honest, for daily driving the 335i is a much better car. Leasing a 335i is not a bad idea if he gets the right deal especially with BMWs maintainence warranty. Finding a low mile unabused M3 is difficult and believe me M3 values are staying fairly firm with the new car a year away. The price point of a nice 04-06 M3 is around new 335i and you cannot lease a used M3 for the same money. If you have the choice of a brand new 335i or a used M3, I would get the 335i. Plus, this guy is talking about getting it in auto (SMG is a pain for everyday) and he wants to get some "dubs" for it. Let him be "Ballin'" in a 335i. It's a great car.
-Marc

 

I know the old farts show up and crush the dream... now i'll admit my car at 19 was a BMW but it was 10yrs old and paid for. I'd suggest a used car, if you lease it's a lose-lose proposition at 19. the lease is a guaranteed $500 a month payment for 3yrs! will you have a guaranteed 36 months of income?

smart planning says, buy a used car for the down money and save the $500 as you can. one year and you've saved $6k! more than enough for any repairs should they arise. saddled with a payment for a car is tiresome! esp at 19 when you should be out seeing the world!

my two pence

 

Great choice. I wanted a BMW for college but couldn't afford one, not new anyway and I wanted something reliable, new, under warranty. I bought a ford fusion loaded with AWD for 27k put a few grand down and pay about 474 a month for the next 5 years. Hoping to use this to establish my credit since I've only just started (parents cosigned) my insurance isn't to bad (not nearly as bad as it would have been for a BMW, I checked)

Its not quite a BMW (let alone a 335i) but its a pretty nice car and I like the idea of eventually owning it and being able to keep it for a few years without payments.

Oh and here's a good tip whether you lease or buy make sure to have enought money to cover a few months of hardship (laid off etc) I currently have enough money set aside strictly for the cars maintenance and payments to cover about six months just in case I run into trouble financially. I've always been of the impression that leases are kind of a pain, everyone I know whos had them ended up in trouble

 

Don't do it man!!! This is your last chance to back out! I am speaking to you from experience. I was in your exact position - just graduated, POS car (1989 Nissan pickup), had a job, and felt that I "deserved it."

I bought a new 2004 BMW 330Ci as a graduation present to myself (I was 21), and it was THE dumbest thing I've done in a long time. I've probably lost 20-25K in depreciation in the last three years. I knew it when I bought it, but looking back I regret the decision.

I remember someone telling me I was an idiot (a guy who retired at 45 and drives a 10 year old minivan). I wouldn't listen to anyone. I don't expect you to listen either, but I thought I'd try.

Having said that - when you buy it, DON'T get the automatic - get the 6-speed!

 

Three words of advice: Don't do it!

Think about this for a second. You're a 19-year-old college student. You've got decades of work ahead of you, why bust your butt all through college just to drive a BMW when you could be enjoying these years? Sure, you'll be the guy with the cool BMW, but you'll also be the guy who's always working while his friends are having a good time making memories that will last a lifetime. In ten years, I think you would look back and seriously regret buying a new 335 while in college. If you're hell-bent on working anyway, put aside the money and be light years ahead of your classmates once you enter the work force full-time.

 

You've worked hard for 4 years and should feel good about that. However, no 19-year-old deserves a brand new BMW. In your case, you are punishing yourself by getting into a car like this (you just don't know it yet). Keep driving the POS and saving your money.

I'm glad that you're seeking out advice, but experience tells me that you won't listen.

 

If I can make another suggestion: you could use the money to take several trips to Europe or Asia during a summer and really see the world. For half of your downpayment you could rent an apartment in Italy for a summer and get to know local life. Learn a second or third language. I think travel and getting to spend a few years untethered (and car payments like that can really put a damper on travel - think about it, it's tickets to Europe every month).

Such things would benefit your life in the long run so much more than a nice car at 19.

 

GREAT advice!! I was just going to mention this as well, I was reading an article that said it would take about 15k to spend a year traveling the WORLD for a year! now this works if you live at home or have an apartment your willing to let go of for the year.

think about it, save your money for 1yr while in college then take a year off and travel the globe. the experiences you'll have and the things you'll learn can not be taught in any school! you'll come back with a very broad base for learning things and an edge on the rest of your peers. job opportunities in the future will be much much better as you've now got GLOBAL experience.

the freedom you have right now will never be available again, think about that for a minute. your largest responsibility right now is to get the most out of life, so you have a foundation with which to build a better future. once out of college the clock starts ticking and time will not just fly by but more like scream by! it was just yesterday to me that I finished up, but it's been 15yrs!

if either one of my sons wanted to travel the world for a year, I'd put up half the cost and buy them the first plane ticket. I just hope in the future they see the value in it. talk to your parents, you might be surprised by the response you get.

as a side question, is a car really that needed in NY? the public transportation there seems more than adequate, unless I'm wrong.

 

I was looking at getting a Car while I am in College it $200 Parking + Inc +gas vrs $180 per month bus pass as a max

 

What about insurance?

Or save up and get that BMW with European Delivery in a few more years!

 

I think he intended Inc to be insurance.