NEED car advice from older,wiser!!! Please!

[cdheaven]

Ok. I need unbiased advice, and as everyone here knows, thats impossible to get, so im gonna give a hypothetically situation, and you pleaseee tell me what you would do.
Lets say, you drive an 06 325. its a lease. you pay 570/month. and eh, you like the car ok. You have 8 months left in the lease.
Now lets say you found a used car. one you loved. lets say an older bmw(so i dont get unbiased advice). lets say like an 01 m3 or 01 5 series. lets say KBB says the car is worth 18,000 dollars, but there is SOMETHING done to the car, that makes the owner need to get 25,000 for it. and you LOVE that thing. whatever it is. maybe it has 7,000 in engine work. kbb doesnt care about that, but its worth it to you. or maybe it has a crazy paint job that you love.
This is a "custom" car that obviously wont be there in 8 months.
Would you break the lease, "downgrade" to an older car and finance it to own. or would you not risk getting an older car, or not spend the extra money even though its worth it to you.
If you plan on only driving the car for 1-2 years, would you be too scared of reresale value because you are paying extra money for something you love, but not everyone cares about, therefore making it harder to sell.
would you trade in your lease payment of 570 for a loan payment of 570 even though the car is older, but you are now financing to own?
Pleaseee help. i found a car. got approved for the loan. now i have to decide if im doing the right thing or if im gonna regret this in 6 months.

[DPritchett]

IMO -- if you only plan to keep the car you're buying for 1-2 years, I'd be scared off by the whatever makes it special -- will there be a buyer who is willing to pay a premium for it like you?

You already have a great car -- just drive it hard for the remainder of your lease!

[Carnage]

to help take out the bias, let's look at it from this non-car angle...

Would you trade your 1yr. old house that you know the in's and out's of(in terms of how it's been treated) and it still has new home warranty that covers just about everything to get a 6-7 year old house with no warranty just because they took an existing room and made it bigger and it's got a new paint job?

On top of that, you'll pay more than market value for the house just because of the room and the "cool" paint.

Most people will say no. Your chances of recouping the money for paying over market is slim.

In this case, if you had a wreck and totalled the car 5 minutes after getting it, you will only get book value for the car then you'll be screwed.

[dickster]

It appears that you've pretty well thought this thing out...but I definitely qualify for 'older', if not wiser, to here goes:

Buying an older car to replace one that is on a lease is usually done only because you need smaller payments. You have a perfectly good car that you like but that dream car keeps clouding your vision. One factor you don't mention is the length of time for the new payments -- is your 1 or 2 year estimate of keeping the car related to how long you will be making the payments on it?

I don't know what the mods are in the older car that entice you to consider this move but remember: you may have difficulty in two years finding someone with the same tastes as you. You could end up either keeping the car longer than you had planned, trying to find a buyer, or you could take a serious financial bath for this short-term pleasure.

Also, consider a third alternative: use the remaining time on your lease to decide what you really love about this other car and re-create it when your lease is up. The $8000 spread between KBB and the asking price would probably buy some serious mods and/or paint work. That way you might end up with a newer, more trouble-free, car that is exactly what you have always wanted.

If you really love this other car, act with your heart; if you're having second thoughts and asking the advice of strangers, act with your head.

See, I said I was older, not necessarily wiser. And always keep in mind that free advice is worth exactly what you paid for it.

[nmulax]

Originally Posted by matsarge

to help take out the bias, let's look at it from this non-car angle...

Would you trade your 1yr. old house that you know the in's and out's of(in terms of how it's been treated) and it still has new home warranty that covers just about everything to get a 6-7 year old house with no warranty just because they took an existing room and made it bigger and it's got a new paint job?

On top of that, you'll pay more than market value for the house just because of the room and the "cool" paint.

Most people will say no. Your chances of recouping the money for paying over market is slim.

In this case, if you had a wreck and totalled the car 5 minutes after getting it, you will only get book value for the car then you'll be screwed.

great point
+1

[cdheaven]

Originally Posted by matsarge

In this case, if you had a wreck and totalled the car 5 minutes after getting it, you will only get book value for the car then you'll be screwed.

this is also a major issue. is there a way to get the car insured for the 25,000 im gonna pay for it, or just what kbb says the car is worth. Cause on this paticular car, im even more worried about theft or vandilism then my bmw. and of course the accident thing is always a worry.


I posted in another thread, but incase you guys didnt catch it. about 20 minutes from my house, there is a guy who goes to japan like 6 times a year. he has a toyota aristo (lexus gs300). right hand drive. 330 horsepower stock twin turbo motor. same motor as in the supra. I have always wanted a gs. i have ALWAYS wanted a right hand drive car. i have always wanted a twin turbo 330 hp car. This car is HERE. in the states. 20 MINUTES FROM MY HOUSE. its already titled, tagged, insured in my state. which is a BIG deal. The car is automatic (perfect for me) its got cloth interior (perfect).
obviously now you see the problem. what are the odds of me finding someone else in the states that wants a right hand drive car. that HAS the 20k for it?

[Carnage]

Originally Posted by cdheaven

this is also a major issue. is there a way to get the car insured for the 25,000 im gonna pay for it, or just what kbb says the car is worth.

obviously now you see the problem. what are the odds of me finding someone else in the states that wants a right hand drive car. that HAS the 20k for it?

The answers are no and little to none. Insurance pays at book value not "paid for" value. If you are having this much trouble then your brain to trying to tell you the right thing to do, listen to it.

[Bimmerista]

Originally Posted by cdheaven

this is also a major issue. is there a way to get the car insured for the 25,000 im gonna pay for it, or just what kbb says the car is worth. Cause on this paticular car, im even more worried about theft or vandilism then my bmw. and of course the accident thing is always a worry.


I posted in another thread, but incase you guys didnt catch it. about 20 minutes from my house, there is a guy who goes to japan like 6 times a year. he has a toyota aristo (lexus gs300). right hand drive. 330 horsepower stock twin turbo motor. same motor as in the supra. I have always wanted a gs. i have ALWAYS wanted a right hand drive car. i have always wanted a twin turbo 330 hp car. This car is HERE. in the states. 20 MINUTES FROM MY HOUSE. its already titled, tagged, insured in my state. which is a BIG deal. The car is automatic (perfect for me) its got cloth interior (perfect).
obviously now you see the problem. what are the odds of me finding someone else in the states that wants a right hand drive car. that HAS the 20k for it?

OK - older and wiser advice - KEEP YOUR CAR:

1. you will find it difficult to obtain parts and service and both will cost you more. Therefore you will have to consider that once your car needs work (which could be anytime- you have no factory warranty to rely upon) you'll need a back-up car and solid finances;

2. the resale value will either be 100% or zero (either you find another Japanfan or not). To be on the safe side therefore imagine that there is no market for the car and you will keep it until it's only good as a spare part donor. Can you live with this fact (can,t get another car until can afford two)

3. I would definately be concerned about vandalism - IF anyone knows what engine is inside, your car will be stolen just for the engine and bits - there is, especially on the West Coast, a sizeable Supra-owning minority and they do love that engine.

Bottom line, it,s like getting married to Jenna Jamieson: it may sound really good at first, but I am afraid that the reality may well proove to be quite different.

[dickster]

cdheaven, you're going to love this one!

Start saving your pennies right away and plan on a trip overseas. You can buy a right hand drive 3 series coupe in the UK, Australia, South Africa and perhaps even Japan.

All 3 series BMWs are built in South Africa but they are still BMWs. Maybe a visit to your local dealer with an inquiry (or is it enquiry?) about ED is in order. That would be "English Delivery", of course.

It may even be that you could find a BMW in one of the right hand drive countries that complies with DOT regulations. As a last resort you might consider enlisting in the Army and trying to get stationed in the UK.

Good Luck!

[ck1129]

Sorry, it depends on the car. A car is a car and a house is a house, cant compare. Who cares about acouple thousand dollars. Will it greatly affect your financial situation. If you have the money to throw around, do it, you deserve it for all your hard work. It also depends on what car this "older car" is. Let us know

Edit: Sorry didnt read all posts thorougly, and saw what car this is. No, do not do it lol. I'd rather take the 25000 you want to spend, and go buy a 335i

[cdheaven]

Originally Posted by ck1129

Edit: Sorry didnt read all posts thorougly, and saw what car this is. No, do not do it lol. I'd rather take the 25000 you want to spend, and go buy a 335i

wow!!! you can get a 335 for 25,000 dollars?! ok. i will do that. point me in the right direction.

on a side note. i went for a drive in this car today. its amazing. incredibly fast. amazing character. it IS an 8 year old car with 90,000 miles or 161,000 kmh. or something. so im leaning towards passing on this car. but i havent made up my mind yet.

[txusa03]

You asked for opinion, here it is. You kidding me right? when you see the newer m3 or newer cars down the road and you are just tire of this right handed car, how easy would it be to sell a right handed car in the us? keep the 25,000 and just become friend with this dude and convince him to let you take care of his car when he goes to japan!

[emos325]

CDHEAVEN
I am younger and sort of wiser. Here is a plan you can think over. keep your lease for the next 2 years. save all the cash you can. I MEAN SAVE. 2 years pass. you have saved a serious amount of cash and you can still get the loan. find a 335i. it doesn't have to be new it can be used. you have an amazing car and you have pretty much paid it off. now do this if all you have saved and the loan combined is like more or just enough for the car. you don't want to be stretched to thin paying the loan and the rest of the car off. stay with your lease and save, believe me it is sooo worth it and then you can say it is YOUR car.

[ward]

don't ever pay more than bluebook for the car...

mods do not add value


remember the guy on here trying to sell his tricked out Audi, bluebook 12 grand, trying to sell for 30.......

if you pay him extra for the mods you're going to be the one taking it in the shorts when you try and sell.

[cdheaven]

Originally Posted by ward

don't ever pay more than bluebook for the car...

mods do not add value


remember the guy on here trying to sell his tricked out Audi, bluebook 12 grand, trying to sell for 30.......

if you pay him extra for the mods you're going to be the one taking it in the shorts when you try and sell.

yea. definitely. the problem is. you cant add this motor, and the right hand drive aspect to the KBB site. cause those options arent there. and thats NOT including the money and work to get the car here. originally the guys friend told me that it was an 01 with 60,000 miles on it. for 25k. i typed THAT into KBB and it said 18k. i WANTED to pay 7 grand extra cause i felt that it was worth that for the motor,RHD, and work to get it registered here. Now finding out from the actual seller its a 99 with 90,000 miles for that same 25, kbb says the car is worth like 8 grand. im not paying an extra 17k for the motor.

[ward]

so are you going to fill us in now on what it was

99 M3 with rt hand drive? some sort of skyline thingy?

[Caster]

Originally Posted by ward

so are you going to fill us in now on what it was

99 M3 with rt hand drive? some sort of skyline thingy?

He said it was a Lexus GS300 from Japan w/ a 2JZ (Supra MKIV) Engine.

Honestly, I love Supras, one of my favorite cars, and the engine is probably the biggest reason I love that car. But paying $17,000 more for it, isn't realistic or practical. Save your money for an R35 or 08 Supra, because it sounds like you're going to have more problems with this car rather then just deciding if its worth the money.