Hey guys, im 18 here and my 1992 acura vigor just blew his little transmission so my parents (yes, i still live with them, saves money) are giving me 8 thousand for a new car. Im contemplating using the money as a downpayment on a car and financing it from there to work up my credit score. if i do this, im looking at a 2002/03 bmw m3. Any input? and, will if the asking price is 15,000$ and i make a 8 thousand dollar downpayment, will i be able to finance with no credit?
call your local bmw stealership and ask, or better yet, stop by one and talk in person. in my experience, bmw salespeople will want to put you in a car.
Can't answer those questions, but I'd say you should consider maintenance and insurance costs too. I'd buy an 8k car personally
I agree. Buy a lower end car outright. No loans, interest, downpayment, etc. Leave that for when you buy a house. Plus an M3 with an 18 year old means insurance will suck.
Yeah. M3 insurance will be a lot. And repairs will cost a lot. My boy has an m3 and it costs like $9000 a year just for insuance. His is a newer m3 though.
Depends what you want from your car. Since your first choice was an M3, I'm guessing you don't care for passenger space, or back seats at all. Do you want to stick to a trunk or are you open to hatchbacks? 5-Speed or Automatic? Do you want to spend time on your car or just leave it 100% stock? Yes, this is my first post. lol.
if you end up going with BMW, get an e36 m3. those tend to be between 8-12k depending on condition/miles. Consider different cars as well... cause BMW will rape you when it comes to maintenance. BTW: Pbonaccorsi, that's a dope golf (vr6 or 1.8t?)
I suggest you go buy a bike @ Wal-mart, And Blow or save your $$$$. Not only will you be benefiting from both sides (Exercise and Money) You'll be Hiiiiii
I think im looking at a subaru wrx hopefully a 2004, you guys are right about the insurance. I decided on the wrx because it has a huge after market following and because i could always swap in an sti motor with a 6 speed and be making just as much, if not more, power. And they do look pretty sick. haha. Oh, btw requiem? stfu seriously, its a gift because i am paying my way through school. Your ignorance blows my mind.
wrx is a great choice for power. join some WRX forums and share knowledge with others. it'l save you in the long AND short run.
personally id go with a corvette or a toyota supra A buddy i used to have, when i was in highschool had a WRX he wrapped it up on a poll street racing and is now paralyzed..sucks. M3s are over priced. im over street cars though i drive a jeep wrangler now and leave the city for the mountains and hiking
Why don't you get something cheaper and then get a nice car by yourself once you make some money? your parents would probably appreciate it and then you'd feel like you earned your bmw..... i'd be careful with buying a car like that if you don't have some source of steady income....will you be able to keep up with the payments? Sorry not meaning to sound judgmental but I know most 18 year olds are not self sufficient enough to afford payments for a BMW on their own....... Edit: sorry nvm, didn't see you say that it was a gift......dang what a nice gift =)
I also agree with volvo probably being the best choice for you. They don't have the nicest interior but its still a pretty nice car. Unless you can afford repairs on a bimmer (trust me they expensive$$$$$$$).
look for an 8 thousand dollar car and offer 6 grand. dont get trapped in the rat race already! i bought a 99 jeep grand cherokee for 3800. dude was asking for 5 grand and the car had a 2000 dollar system in it. with a new battery and 200 dollar headlights.