Should I buy a BMW now or wait?

Question

I would really like to get a 2006 BMW 325i w/ 30k+ miles on it for $21k. I have a 2006 VW Jetta 2.5 I could trade in for about $12-13k with a $3k down payment and would finance the rest over 36 months which would leave me with a car payment of around $200/month. I am currently in college, so I am wondering if I should get it now with the intention of keeping it beyond college or wait until I finish college and purchase a new one as a graduation present to myself?

Please no rude comments. Thanks :)

Answer 1

I do love BMWs, but this should wait a bit.

I think that the Jetta you have now is a very good car, and you should enjoy it since it's fairly new.

Since you are still in college, you won't make much income yet. Therefore, making car payments isn't good.

I think that you should buy a new one as a graduation present and as a goal to set for yourself.  You can start setting aside $200/month and save up for it, in which time you would accumulate the depreciation money for your Jetta. This way, the deal you get in the last bit of college will be similar to what you already have now, it's just later.

Both cars will last you a while, and the Jetta should satisfy you now. I think that the BMW is a bit expensive, so you should work up a deal where you can pay for it later for less than $100/month.

Good luck, and whichever decision you make is good!

Answer 2

Wait, and stay out of as much debt as you can.  Even if you have to drive a clunker for a while, it will be worth it.  Live like no one else to live like no one else.  That's what my buddy Dave Ramsey would say!

Answer 3

You should buy an american car and support your country :)

Answer 4

Wait until after. You shouldnt buy anything now without having the all the money for it because an emergency might come up where you need that money and then maybe you would get behind on your payment, then your credit would be screwed.  

Answer 5

Wait until after college, like mentioned.  

Then wise up and buy something with a long-term track record for GOOD reliability.

A Beemer does not qualify.

Answer 6

After January .

Answer 7

Wait til after.

You may come up with unexpected expenditures and may need that money.

Answer 8

the bmw will by far out live the VW. and the bmw has a higher resale value. i saw an a 1999 passat for 2000 bucks! get and keep the bimmer if you can find a 325 Xi that will be better (all wheel drive)