Kazbanz, you (and several others here) have given me great advise a number of times, and so I am hoping you can guide me again please. I currently have a 2003 Toyota Corolla Runx, which I've had for 7 years. I love it but feel like its time for a change. The biggest problem is, I'm poor. I have next to no savings and as I'm not yet working full time, we live almost week to week. I tell you this to provide a full picture of our situation. I have always loved BMW's and would love to own one. There is one for sale on the side of the road near here that is gorgeous. Its a 2001 BMW CompactA, 1800, triptonic, 136,000ks, $6000. Thats all I know so far, from the window sign. Am I mad for even considering selling my car and buying the BMW - assuming I could even get that much for my car, and the BMW passed a mechanical check. Could I afford to own a BMW? Would it be much more expensive to run and maintain? Would I be insane to sell my very reliable Toyota to buy an older, unknown European car? I suspect I already know what you will say, but I'd really appreciate your thoughts. Thank you :o)
cagivachick1,
May 15, 4:30pm
if i was you i would stick with the toyota, you know what you have already the BMW is a unknown quantity
tigertim20,
May 15, 6:09pm
i wasn't asked, but Ill weigh in anyway. if your current vehicle covers your needs, and doesnt have any major issues, id keep what you have. you know its condition, and what its history is for the last 7 years.
If you are living week to week, then, in my opinion, you arent really in a good position to do an "I want" type of vehicle change. what i its history? how has it been treated? has it been serviced? are there receipts to prove it? - what i something goes wrong / it breaks down or needs major work in 6 months?
I reckon that an "I want' vehicle change is best done when there is some expendable income so it doesnt matter too much i something goes wrong
mojo49,
May 15, 6:19pm
Learn the difference between want and need and move on.
mojo49,
May 15, 6:22pm
And in case you are offended my newest vehicle is a 2001 Nissan Maxima. I have enough unused debt capacity in place to buy a new Mercedes as advertised on TV and would love one but I dont need one and I aint buying one. The Nissan meets my needs but not my wants.
tgray,
May 15, 7:21pm
Look at the reasons why you say it's time for a change. To sell a Toyota and buy an older BMW doesn't sound like a good idea, especially since you say you don't have any savings. Think long and hard before doing this.
saxman99,
May 15, 7:32pm
I am a big fan of BMW and have always owned at least one since I started driving in 1994. They have all been great, reliable cars which have done huge miles trouble free, but there is still no way I would recommend what you are suggesting.
tamarillo,
May 15, 7:37pm
As others. However much I love my euros there are times when you need to stay still with what's works. A few other thoughts. The compact isn't a great BMW. It's a cheaply made budget BMW and not a very good one. It's not worth 6, and I would not have thought you'd get 6 for Toyota selling for cash. Sorry but time to enjoy what you have.
skull,
May 15, 7:44pm
Deep down inside I'm sure you already know it's a bad idea. Concentrate on getting into a position where you are no longer week to week and use the thought of a BMW as your carrot to get there if it helps. In your position you need to minimise risk and your reliable Toyota to unknown BMW is quite a risk.
aktow,
May 15, 10:08pm
2001 BMW is too old. i drove a few bmw's around that age and they started to cost money. i found they are expensive to get fixed.
franc123,
May 15, 10:25pm
They're simply too costly to operate for most people, really now only for those who can do their own repairs and who are prepared to obtain their own spares from Europe or from a reasonably priced local supplier. The biggest issues appear to be electrical and cooling system parts failing, most of which simply cant be ignored. No matter how good it looks or checks out, their very method of construction and quality of materials dictates a pretty fixed economical life, they ain't made to hang around for this long.
ema1,
May 15, 10:27pm
The better car is the one you have right now for definitely sure, I'd be keeping it if I were you.
datoofairy,
May 16, 4:50am
Thanks all. Yes, I figured it wasnt a good idea, even just typing out my post helped clarify it. I guess there was a small part of me that hoped you might say 'go for it, the BMW will be a great car, even better than what you have', even though I suspected that was far from true. I do know the difference between want and need and I am actually very good at living within my means, but dont we all dream a little sometimes? A bit of wishful thinking doesnt hurt. Acting rashly without getting advise however is beyond dumb. I will look lovingly and longingly at the BMW as I drive past today, and will be jealous as hell when I see someone else driving it but I will screw up the paper with the phone number and remind myself how awesome my wee Toyota is. Thanks again all, have a great day :o)
tim41,
May 16, 4:59am
jealous of someone driving a 14 year old bmw ?wtf
m16d,
May 16, 5:27am
Just stick a couple of these on you old Toymota and carry on.
As someone who has in the last 6 month's sold a BMW (bank manager's wallet) and bought a Toyota, don't do it. I paid $10'000 for my 316 Ti and was lucky to get $5000 for it 2 year's later.
tgray,
May 16, 5:48am
As you drive past it, smile at yourself, knowing you own the better car.
willy911,
May 16, 5:59am
Bmw's have a soft aluminum head,if you get over 200000k with out them cracking or distorting ,you are lucky,i have had many ,gorgeous to drive ,plenty of power and economical. but always sold before 150k. (mechanic by trade)
mojo49,
May 16, 6:10am
Well done toothfairy. Nothing wrong with a Toyota. I drive past a brand new tractor and sprayer frequently that I would love to buy for my business. I can afford it using my existing debt facility, but it is staying in the dealers yard. On the other hand, I get quite a lot of satisfaction watching the "available funds" balance on my bank account growing and I can do without the stress of having to repay another $80K in the next 3 years. Looks like you got quite a lot of negative feedback about older BMW's as well. Old adage "In order for a few to be rich, many must be poor." I guess we will just have to be happy as part of the many.
kazbanz,
May 16, 6:32am
datoofairy-everyone else answered your question pretty darn well. lets forget make/model for a bit being logical -why sell a car you know is reliable and you know its maintainence history for a vehicle that is 2 years older and you have no idea what "hidden gems" you will encounter. Its a risk you living week to week just can't afford to take.
mals69,
May 16, 6:51am
Buy a low k Nissan
intrade,
May 16, 7:22am
do not buy a other car , if you are poor you have to do something about that problem . I often go to the supermarket looking at stuff thinking what friggen moron pays these prices and walk out again . So what you want to do is buy a blackboard and write on there what makes you pour and then write a possible solution on there also to change this. Like do you just buy what ever where do you waste money you wont even know unless you are analysing why you are pour your self.
intrade,
May 16, 7:28am
here is a plan for you to write on your blackboard Wanting a 2001 BMW CompactA how do i get there? what aree the costs ? What is a other solution i could take? " for one you could make some speacial savings to hire that car for a weekend " and if its still your dream you can change that fund to actuarly working towards that goal But the poor problem needs to be adressed first.
ema1,
Jan 28, 8:59am
Got that right, the goal if you get that far is ultimately it will keep you "poor" and it will never get "addressed" ?
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