[CharleyGFX]

hey guys, I have a 07 e92 335i with 124k miles on it now. It's running fine as far as driving wise, but little things keep breaking and I don't feel like fixing it anymore.

Like I just changed out my brake pads and the sensor but I guess the sensor broke? so the light is now back on.

My oil pan gasket is leaking ($20 part) and it's gonna cost me $1100+ to fix it (labor).

And my power steering rack is leaking, just a tad bit.. but it's still leaking none the less.

If I trade my car in as a downpayment on a lease, and they could give me 10-13k for my car? Is it worth it to get a lease on a m235i? I want a white one in a manual. If so, will my payments be less than $200 a month? How long will I have to keep the lease? 2 years? Would I have the option to buy after 2 years?

Money is kind of tight right now because I'm about to move to California, with no job secured (has 4 line up). I don't wanna have to constantly fix my car since I am driving it all the way to Cali, it would be easier to drive a new car. Info and feedbacks?

[kerm1t]

i would say yes. its worth making the trade, but if you're tight on money especially coming to LA, i would try to push it back until you can build some padding. Living won't be cheap here in socal.

[CharleyGFX]

Originally Posted by kerm1t

i would say yes. its worth making the trade, but if you're tight on money especially coming to LA, i would try to push it back until you can build some padding. Living won't be cheap here in socal.

Thank gawd I'm not moving to SoCal, I used to live there I know how tough it is. I've saved up some money for my move to Cali and I don't have to pay rent since I'm moving in with my girl and her parents. Gotta a couple job line up so I'm not too worried.. but I know I can't afford anything more than $300 a month. Do you know if I would have the option to build a M235i? before I lease it? Because I really would like to be able to buy in the long run if I can.

[hyperzulu]

I wouldn't do it, but I don't know your financial situation. I would sell my car, buy something cash and make sure it's reliable, that can hold me over until I am settled. Tossing $10k into a new car without a job lined up in a cross country move from a cheap state like Florida to a ridiculously expensive place like California, I'd be afraid of the shock that comes with how quickly you'll chew through your savings.

Once I lined up and secured a job, I could sell the beater car, still have several thousand and have no worries over my finances, and do the lease properly.

[ibimmer954]

I can think of a couple risks to your plan. First, I believe the tax situation with leases is different in California compared to Florida. Not sure how that will affect you. I know in California we pay tax with every lease payment. I would guess your monthly payment will change when you move to California. Keep that in mind. I don't know about Florida taxes. If you have to pay taxes upfront in Florida then you might get screwed in that you'd pay upfront and then have to pay more in California. Not sure. Either way, keep in mind that the yearly registration fee is tied to about 1% of the value of your car every year. That's several hundred dollars for your M235i every year.

Second, I'm wouldn't be totally comfortable putting such a large downpayment on a lease. One of the points of a lease is to minimize the upfront cost. Have a talk with your insurance company about what happens if you total the car driving it off the lot. You wouldn't have had a $10K loss in value. Your insurance would pay off BMW, but what about the extra amount left? Do you get that? Not sure in the lease situation.

[hoyasaxa]

Originally Posted by CharleyGFX

Thank gawd I'm not moving to SoCal, I used to live there I know how tough it is. I've saved up some money for my move to Cali and I don't have to pay rent since I'm moving in with my girl and her parents. Gotta a couple job line up so I'm not too worried.. but I know I can't afford anything more than $300 a month. Do you know if I would have the option to build a M235i? before I lease it? Because I really would like to be able to buy in the long run if I can.

How are your girl and her parents going to feel about their unemployed slob of a future in-law driving a brand new BMW and mooching? Just saying.

[CharleyGFX]

Originally Posted by hoyalawyr

How are your girl and her parents going to feel about their unemployed slob of a future in-law driving a brand new BMW and mooching? Just saying.

that's a tough one. slob is kind of harsh though, but I get what you're saying. I have 4 jobs lined up, but none of them are secure.. so I guess the best bet is to keep the car for another 6 months to a year?

[hoyasaxa]

Originally Posted by CharleyGFX

that's a tough one. slob is kind of harsh though, but I get what you're saying. I have 4 jobs lined up, but none of them are secure.. so I guess the best bet is to keep the car for another 6 months to a year?

Yah I wanted my point to be crystal clear.

Moving without a job is often/usually a sketchy proposition to begin with. And, especially in this economy, applications/interviews aren't the same thing as an offer. Good luck with the move, but keep your existing car for now.

[WWM]

From what I've heard, you should never put a down payment into a lease because if the car is stolen or totaled early on, you end up losing most of the money you've put down. You'd be better off selling the car for cash and leasing, or trading it in and purchasing something.

[valentinbmw]

if i where you i´ll get to Cali first and scoop out the situation maybe you get the job right away and everything go smoothly, you get the new car and you and your girl move to your own place, i guess what i am trying to say maybe it´s not the best time to get a new car, take it from me i am always moving from country to country...

[phoenixbmwlife]

Originally Posted by CharleyGFX

hey guys, I have a 07 e92 335i with 124k miles on it now. It's running fine as far as driving wise, but little things keep breaking and I don't feel like fixing it anymore.

Like I just changed out my brake pads and the sensor but I guess the sensor broke? so the light is now back on.

My oil pan gasket is leaking ($20 part) and it's gonna cost me $1100+ to fix it (labor).

And my power steering rack is leaking, just a tad bit.. but it's still leaking none the less.

If I trade my car in as a downpayment on a lease, and they could give me 10-13k for my car? Is it worth it to get a lease on a m235i? I want a white one in a manual. If so, will my payments be less than $200 a month? How long will I have to keep the lease? 2 years? Would I have the option to buy after 2 years?

Money is kind of tight right now because I'm about to move to California, with no job secured (has 4 line up). I don't wanna have to constantly fix my car since I am driving it all the way to Cali, it would be easier to drive a new car. Info and feedbacks?

No no no no no no no no. DO NOT DO IT! You're making a BIG mistake. Whatever they say they are going to give you for your old car, take the CASH instead. Do not let that cash amount apply to the lease. If your car is totaled a month after you sign papers and drive off you just lost two cars and the insurance will give you back $0.00. They will pay the bank that owns your lease the payoff and you will be left with nothing. The $13k you applied to the lease is poof gone forever.

Go along with them all the way till you negotiate exactly what they are going to give you for your car, then tell them you want cash for it.

[bladeomatic]

Originally Posted by hyperzulu

I wouldn't do it, but I don't know your financial situation. I would sell my car, buy something cash and make sure it's reliable, that can hold me over until I am settled. Tossing $10k into a new car without a job lined up in a cross country move from a cheap state like Florida to a ridiculously expensive place like California, I'd be afraid of the shock that comes with how quickly you'll chew through your savings.

Once I lined up and secured a job, I could sell the beater car, still have several thousand and have no worries over my finances, and do the lease properly.

+1

What he said.
New life/job changes is no time to take on the added stress of a luxury car payment. Drive a reliable Honda or something till you land that great job. Plus agree with the other guy…driving a sick car when you can't afford your own place yet may not be a good message to the charity of your hosts.

good luck!

[pruettfan]

Trading in a car with that many miles is an invitation to get ripped off, I think you could do far better selling the car on your own and using the cash for a down. It could be 3-4k difference which I would consider to be significant. As far as your 335i goes, it has a lot of life left in it so if you like it you can milk a few more years out of it, although the M235i is really a tempting car. I have 194,000 miles on my 06 330i, I also have the oil pan gasket issue and have changed the starter and done some preventative parts changes like water pump and misc other parts that can create issues as the car gets older. I also plan on going with the M235i next year.

[JustinCredibleM]

Originally Posted by CharleyGFX

that's a tough one. slob is kind of harsh though, but I get what you're saying. I have 4 jobs lined up, but none of them are secure.. so I guess the best bet is to keep the car for another 6 months to a year?

What do you mean by secure? As in they're unstable and can fail anytime or the job can go to someone else?

I highly recommend you getting settled with something stable and secure before looking to dump money into a new car. Its possible to get your payments to under $300 a month, but you'll need a fatty downpayment AND good credit. If your car is reliable enough to last until you're stable, then I would keep it for the time being.

Not to try to butt into your personal life, but if you're planning to go to the next level with this girl, I wouldn't be living with her parents for free. At least pay some rent to show her parents you're responsible even if they aren't planning to charge you . Using the money saved for a new car instead of showing responsibility is going to look funky.

[five3three]

Sell the 335i outright. You'd get way more than a trade. Buy something reliable and cheap to maintain for like 5k (like a Honda or Toyota) that you can sell after 6 months to a year and have lost almost no money on it. If you shop around and buy a properly maintained one, you may be able to sell for what you buy it for.

I wouldn't recommend keeping the 335i at 125k miles if it has already started to get problematic. It will only suck you dry if any more problems arise.