Hey everyone,
Just got out of my M340i lease and looking into buying used German. I was thinking about buying a cheap enthusiast car (e30 or something similar) and whipping that around until the market comes down some more, or am I better served just buying now?
I’d keep the enthusiast car as a weekender if I buy in a few months.
Thanks all!
Show some examples. A hypothetical discussion is mostly pointless here.
That was my mindset, too. My 2019 530i is up in a week. Did a lot of research and bought a 2007 e350 Sport Mercedes 2 weeks ago. $7,750, 99k miles, immaculate interior, very good exterior, needed new tires ($900), and will refinish wheels, so will still be under $10k. Ppi checked out. I will use it as a daily driver (round trip commute is 10 miles). If it lasts 2 years I’ll consider it a freeroll.
Any reason you did not buyout your lease?
My bad lol.
For my enthusiast car I was thinking about grabbing a W202 C43 AMG or C36 AMG. There are a few near me under 10K.
If I were to buy used German I was thinking '19 Macan, A6, SQ5 or something similar. Those are sitting at about 40K (give or take a few thousand either way) with mileage around the 40K mark as well.
It was a '22 so I didn’t have equity at all. Ended up lease transferring it.
Looking at buying a W202 C43 or C36 AMG. My issue is that I’m trying to buy maybe early next year? So not sure if its the most sound financial decision to buy the AMG and then again in a few months (though I am thirsting for the W202 as a weekender)
This makes no sense.
EDIT: You got out of a lease because it did not have any equity in it?
This whole situation sounds like a disaster.
If it lasts 2 years and has to get junked that’s something like 4k per year of “depreciation”. Seems pretty steep for a 15 year old car?
This key point is always overlooked in the “beater” debate.
Lol. It’s hardly a beater. These cars can easily go 200k with timely fluid changes and proactive maintenance. The main problem with these cars (assuming the engine serial # is above the W211 “death zone” number, which this one is) is the intake manifold, which is not showing up yet in the codes. And I’m going to avoid the potential gas tank leak problem by never filling it up to the max. Lol Additionally, the 7speed trans is normally more reliable than the 5 spd (4matic), which is still decently reliable. Also, I’m probably maxing out at 4K per year in mileage so I’m “expecting” a lot more than 2 years. And the price is a little under market for South Florida; I lost out on two prior to this one.
No, I transferred my M340i lease cuz I wanted to get out of it lol. You asked why I didn’t buy it out, its cuz there was no equity and I wanted out of that car so I didn’t buy it out.
This is the solution right here. Snarky comments instead of constructive feedback. Thanks Zaimer!
Pre-covid, most cars did not have any equity in them. One of the benefits of leasing was being able to drive a new car every 2 to 3 years. If you were so concerned about having equity, you should have financed a new car that holds its value such as a Toyota, Honda or Lexus.
Good luck in your search.
I don’t believe there to be a real solution here. You jumped into a lease and jumped right back out 6 months later. Now, you’re looking to purchase a used “beater” with the intentions of purchasing again in the near future. Used cars have been at all time highs, and you’d likely be purchasing something out of warranty. You gave up the new BMW, with a factory warranty, why?
The solution seems to be burning money without much thought of what the actual end goal is. I’m not trying to be a prick, but this thread seems to be one we’ve seen many times… and they all end the same way.
K so post some links. Otherwise it’s just hypothetical
Understood, but what’s done is done so I’m trying to figure out what the best solution here is.
Porsche would be my first thought. I love the brand and most are quite reliable. Pay a few bucks to have a PPI done if you wish.
The Macan should hold value decently well, just confirm you purchase one at a good starting price. I’d also recommend really testing driving a base (4 cylinder) as it may not be enough. If I were personally to get one, I wouldn’t go less than an S for the extra performance… I’m afraid you may be similar.
