Rate my idea: stupid -> dense

[giovanni.joubert]

I'm thinking of purchasing a 2013/2014 F30 320i. Basic interior, maybe M-sport. Cars are selling for around R180k - R200k with +- 100k kms.

I wouldn't need to go for a loan, but I want to use the opportunity to start my credit rating. (18-year old). Insurance is still a problem though, wonder if they are lenient when you deposit +- 70%?

Question is: What can I expect for reliability? The plan is to drive it around 4/5 years. There isn't a lot of info on the web, most likely because the cars are quite reliable and only now approaching high-mileage. Am I going to have to fix/replace turbos? Anything else to look out for?

My dad drives an F10 5'er and she's so solid at 100k kms. Still running exactly as when he bought her.

 

[SubLoaded]

IMO, take that "70%" deposit you have and buy a car cash. You're 18 you'll thank yourself in the future.

If the bmw is a 'must' then take the insurance out on your parents name and see what works out better in terms of the primary driver etc. You'll have to shop around with diff insurance companies to see what works for you.

 

[Dewald Basson]

What's wrong with your 318is?

To get a credit rating you don't need 30k's worth of debt, get a clothing account, buy some work clothes and done. You have new clothes, working towards the credit rating and you still have 70k in your pocket.

18 is a great time to invest and rather work on your compound interest rating :tease:

 

[cOlDFuSiOn]

Start your credit rating with a credit card and manage it well. I would not bother with a 320i cash, it will be worth close to nothing in 4-5 years time


My honest 2c..

If you have the 318is and have R170k cash and must buy something, buy something fun IMO.

 

[giovanni.joubert]

Absolutely nothing is wrong with my 318is. Planning on keeping it for someone.

Okay so money-aside, is buying a 320i at 100k kms totally no-no or reasonable?

 

[Tinuva]

I wouldnt buy the current lot of 320i bms. Either get the 320d, 335i, 340i or just keep driving the 318is and invest the 170k you have.

 

[zaleonardz]

In my financial history, the one thing that I wish I could change was the expensive cars.

You never quite get over it, loss on the one transferred to the next and on and on and on.

 

[husaindindar]

Since you are saying you have a 70% deposit on a 200k car, I assume you have in the range of 150k cash.


That gets you a good 2009 upward e90 320d (N47 Motor).
Solid car, solid motor, good tuning potential, good economy.

Do NOT put yourself into debt at this age. It's not wise at all!



My 2c btw

 

[MR_Y]

Credit history is not a concern for an 18 year old.

I was only 23 when I started my credit history. You just need a well behaved bank credit card (pay it off within a month), a cell phone contract and a simple (interest free, 6 month term) store account. That is sufficient to start you on the credit history bandwagon.

On the subject of buying a used German premium sedan as a first car, I had 1993 W124 230E (ask your dad about that car) as a hand me down for 6 months before I could afford my first car. It gave me endless headaches and I was glad to buy something less premium but easier to maintain (2005 Opel Astra Classic 1.6i Club).

My advice - buy a used car that is non turbo and easier to maintain. Sadly, this would mean something from the Japanese brands. However, a used Suzuki Sport is not a bad first car...

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[Nick]

Even a 325 or 330 would be a good start, you could get a nice one for between 110k to 130k.
Bank the rest and get a credit card, dept is BAAAAAAAAAAAAAAAAAAD!

 

[giovanni.joubert]

All of the comments on my financial decisions and none on the car itself. Thanks, guys :ty:

:roflol:

 

[Nick]

you can see we all F#cked up in our younger years :roflol:

 

[TBP88]

I can't see any logic in dropping so much dosh on a 320, it'll be about as exciting as lukewarm soup... Rather save the dosh till you can get something more special, if the 318is is running fine, keep that till you have enough to sink into a more serious machine. (my 2c on the car itself)

 

[Tinuva]

All of the comments on my financial decisions and none on the car itself. Thanks, guys :ty:

:roflol:

Don't buy a 320i!

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[giovanni.joubert]

Thank ya'll.

Don't quite see the benefit in an F30 328i since it's still 4-pot, and a 335i/340i is a bit much for me power wise.

I was thinking, newer, relaiable 320i with room for a 330i e46 second car in a few years.

 

[ZaynM]

All of the comments on my financial decisions and none on the car itself. Thanks, guys :ty:

:roflol:

Don't take this the wrong way but, all the guys see the bigger picture, they all looking ahead for you.

Hope that helps!!

 

[giovanni.joubert]

I don't reckon myself blidended for the future, I appreciate and consider all the input I can get. I do have a healthy relationships with mentors though, I posted here solely for advice on the car itself.

I for a moment forgot that this is an internet forum and we can all give whatever opinion we want. Thank you all for your good intentions.

We all need to be young & dumb though.

 

[TurboLlew]

if I was spending R200K on a car with the risk of requiring R100K in repairs, I'd be getting something more exciting than a repmobile

If I was you, and with that much in cash, I would go and buy an S2000 or Z4 M roadster/coupe

 

[giovanni.joubert]

if I was spending R200K on a car with the risk of requiring R100K in repairs, I'd be getting something more exciting than a repmobile

If I was you, and with that much in cash, I would go and buy an S2000 or Z4 M roadster/coupe

Saw a blerrie lekker z4 2008-ish model at Raceday, looked so enticing.

 

[LOW BOOST]

To fully assist,
One would need to understand your affordability.
I personally paid some serious school fees at a young age.
If i was 18 i would say, hey its your money do what you want.

From a car enthusiasts perspective - i would rather look for an e46 m3 for that money.

From a financial perspective - Bad idea putting a huge deposit on a asset and financing the rest At Your Age. I can think of some many ways to make 150k grow rather than dump it on a depreciating asset.

I know this may be far from your mind, but there are some brilliant guys on this forum.
If you read between the lines It's synonymous what most guys are saying.
Set yourself up now, to reap the rewards later.

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