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Discussion Starter · #1 ·
Hey guys I just wanted to hear some different views on my current car situation and if I should sell or keep the coug and if I have the means to afford an M3.

Ok, as you all know I drive a slow ass ATX coug and its getting to me. I want something faster and have been looking for probably 6 months at cars and I think the M3 is the winner. I've looked at S4's (seem to un-reliable to buy used, if turbos blow i'm up **** creek without a paddle), GTI's (fwd, dont really want that again), g35c/350z (too much $$$ right now), 01' 330ci's (still too much $$$), among other things, but those have been my top choices. But top of them all is the M3.. its very reliable, has a good track record, and overall its a good looking car.

Ok, for everyone that doesn't know the BMW lingo e36 = 1991-1999 BMW's. E46 = 2000-present. The M3's that I'm looking at our 98-99 and I've found if I look hard enough I can find one around 20k.

Also some specs: 240HP, 3200lbs, 0-60: 5.9, 1/4: Ranging from 13.9-14.2

Here's a 98 M3 w/ 54k on it for $20,900.



Now the financial situation. I'm in college right now and only work 22hrs/week @ 8 bucks an hour. I think if i'm lucky I can get 10k out of the coug (2000 w/ 30k on it). I also have around 4k I can put down, and after i've calculated it, the payments should be right around 200 even for 3 years. My parents will pay insurance up the current amount, which is already like 3k on the coug but I have to pay for everything else.

So, you guys think I should go for it, or just keep the coug awhile longer?

Thanks! :cool:
 

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Wish I could find one that cheap. Around here that car would still be an easy 25K just because its in demand for high school kids....parents spoil their kids all to well in this part of town.

GO for the M3!!!
 

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if my parents payed for my insurance, id do it too.
 

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$3k sounds high for an automatic / airbags / under200hp / abs car, im only a little older, did poorly in school and I pay $1200 a year for my cougar and volvo combined.

Have you tried shopping around for other insurance companies? if I bought a '99 M3, id personally expect to be paying $1500 - $2000 a year for it alone.

edit: correction, my premium is $1788 for both of my cars.
 

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Discussion Starter · #8 ·
Well its my parents insurance so i cant really do much shopping around.. we have 5 cars on the policy and the total is like 5k/year and i'm 3k of it I believe.

I'm almost 19 and have a clean driving record until they get my ticket.
 

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Doesn't look as good as your Red2K...but if you want something faster...

Mike
 

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while the M3 is a great car no mistaken, i have to go the senible way here based on my car mistakes of the past. the most important thing people forget is the budget. the M3 will cost more to insure, maintain, and fill up gas in. not to mention the car will get more looks than a cougar so be prepared for the lookers and haters. i would say that if you want to go all out and make other sacrifices then get a M. if you dont want the added pressure of the expense the keep the cougar until you get into the job market after college. then you can get a e46, put some sick 19s on it with a nice fender roll and be really set to go.
josh
PS if you decide to get the M3, dont get the cheepest one you can find. remember these cars are also driven VERY hard. i have 4 friends who own M3s, 1 e36 and 3 e46, and they rip on em everywhere. most M drivers are the agressive type, so keep that in mind when shopping. it may look nice but it was most likely beat on pretty hard.
 

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Having no car payment is a good thing.

You don't want to be in a position where every penny you make is being invested into a car. (a poor investment at that)
What happens if you would become unemployed? Would you be able to afford the car at that point? I paid the coug off earlier this year,
its wonderful not having to send Ford a check for 209.11 every month :)
 

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$20900 for a M3? must be automatic... no one wants one of those but good bargin for posers
 

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Keep the Cougar...cause its really nice...finish school...and then buy one without your parents!!:thumbsup:
 

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not to mention the car will get more looks than a cougar so be prepared for the lookers and haters
....maybe a new M3...or that M3 after its hooked up.

Mike
 

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i would go for the e36 . how do you figure your payments would be 200 ?? if you have 10k for your car and another 4k to put down total. that would be a 5k loan ? even a 3 yr loan would be less then 200. get a 4 yr loan and your all set :biggrin: wow thats probably confusing
 

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Originally posted by: slownfurious
i would go for the e36 . how do you figure your payments would be 200 ?? if you have 10k for your car and another 4k to put down total. that would be a 5k loan ? even a 3 yr loan would be less then 200. get a 4 yr loan and your all set :biggrin: wow thats probably confusing
oops well just read it again and you said 3yr loan..stretch it to 4 yrs that should bring down your payments a good amount and whats a another yr matter. by the time you hit the 2nd yr who knows where you'll be , and what you will want then
 
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