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View Poll Results: 328i, wait or settle for 435i?
328i for a year 8 19.05%
Drive the Lexus and keep checking M3 prices 30 71.43%
435i 4 9.52%
Voters: 42. You may not vote on this poll

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      09-24-2013, 04:55 PM   #1
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328 for a year then M3 or wait?

Purchasing an M3 these past few weeks has been harder than it seems because apparently now is one of the worst times to buy an E92 M3 especially from a dealership.

I have been to a few dealerships and they are very firm on their price at the moment, I went to Pacific BMW a few weeks back and even though the CPO M3 I was interested in had been sitting on their lot for over 70 days they would not even budge $900. After looking around it seems like I would not get much of a deal from anywhere so I have decided to wait it out.

I just graduated from College and a down payment on a car is supposed to be my graduation gift from my parents (I would make the monthly payments)

Option 1: Since its such a bad time to buy the car I want parents have offered to help me lease a 328i, I would drive the 328i for a year and then hand it over to my mom and she would drive it for the remainder of the lease period. When I am ready to make a purchase on an M3 they would still somewhat help me. At that time deliveries of the F8x M3/M4 will have begun and prices on the E9x M3s should have dropped considerably. Now if I take this deal I would HAVE to drive the 328 for at least 9 months minimum, so if prices for e92 M3s drop in January-February once orders are being placed for M3/M4 I would not be able to do anything until some months down the line. However during that time period I will be able to save more money for the M3.

Option 2: I could just not get a 328 and save myself and my parents some cash and instead wait to see if e92 prices drop and make a purchase once the price is right. However I would be driving my grand mother's Lexus es300 in the mean time (she can not drive anymore), which is a pain to drive and not economical plus I plan on going snowboarding this winter and the 328i would be a much better car for that situation.

Option 3: The 435 will be out in a few months and my mom works for Oracle so she benefits from the BMW fleet program where she would basically be able to get invoice price+$500 once dealers get a sufficient amount of order allocations available (Who knows how long that would take) so at that point I would be able to lease a 435i for a 3 year period. However I am not as interested in leasing this car and have my mind set on an M3, this is just something worth considering.


Notes:
- In the next 2-6 months I am expecting 2 (1 is more certain than the other) 5 figure bonus checks from my previous job at a law firm
- In 4 months I am expecting a promotion/raise from my new job
- I will not have to pay rent for the next 4 months and will be living alone
- If I do receive the bonuses I plan on using a large chunk of that money to pay back college loans for my father and I. I would also hate to just drop a large chunk of cash on a car before earning some interest through investments.
- If I go with Option 1 I would be able to use $1,000 Ultimate drive incentive and my graduation incentive would be intact for a CPO M3 a year from now (date on my degree is 9/11/2013)


I appreciate any and all feedback negative or positive. I did not expect to drive a 328 right after graduation but as of right now it seems like the smart move to make for 1 year and then I will be able to drive my dream car the M3.
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Last edited by Powaup; 09-24-2013 at 05:00 PM..
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      09-24-2013, 04:59 PM   #2
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You are a lucky guy... new car out of college! I bought an old 90 Nissan Stanza out of college... which I modified and took to autocross. I think it's the only Stanza to ever have custom made Ground Control coilovers with Tokico rally shocks...

I'd wait if you already have a car you can drive.
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      09-24-2013, 05:09 PM   #3
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Quote:
Originally Posted by Z K View Post
You are a lucky guy... new car out of college! I bought an old 90 Nissan Stanza out of college... which I modified and took to autocross. I think it's the only Stanza to ever have custom made Ground Control coilovers with Tokico rally shocks...

I'd wait if you already have a car you can drive.
I did have to drive a beat up chevy cavalier for the past 19 months and take 43 units my last year of school while working. But yes I am very fortunate and blessed to be in this situation which is why I consider this a "first world problem" lol
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      09-24-2013, 05:33 PM   #4
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Quote:
Originally Posted by Powaup View Post
I did have to drive a beat up chevy cavalier for the past 19 months and take 43 units my last year of school while working. But yes I am very fortunate and blessed to be in this situation which is why I consider this a "first world problem" lol
Better than me.. I didn't get to drive until I graduated college. I rode a bicycle everywhere and bummed rides from friends.

But yes, you should save some money and just wait for the right timing to get the car you want rather than settle for a temporary car.
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      09-24-2013, 05:35 PM   #5
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Being financially responsible is a huge step into the real world. It's so easy to throw your money at some new toys, clothes and girls.

I don't see the huge point in leasing a 328i for the next 9 months. Bit of a waste of money when that cash could go towards a down on the M when you are ready to purchase. Unless your mother is planning to buy a car as well and will make full use of it I would pass on this option.

Driving around something old until you have the money/promotion in hand is really the best option. Fuck the dealers with their shitty used inventory thinking they can rape us for old stock. Wait 5-6 months and they'll have dumped the E9X as everyone will be absolutely clamoring for the new M3/M4. Hell, might as well just lease one of those since you'll be really pulling in the money.
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      09-24-2013, 05:58 PM   #6
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Good on you for realizing it's a blessing.

Personally if you're into cars and the M3 is what you want the 328 won't move you. I'd keep looking. I've seen several for ok prices at dealers or buy privately.

Having said that I wouldn't count unrealized bonus checks to make it happen or make you feel ok about buying. But if you can afford it then go for it.
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      09-24-2013, 06:15 PM   #7
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what ever you do, do not go with the 435i option. you are set on a M3! get a M3 now or later.
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      09-24-2013, 06:22 PM   #8
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I don't like either one of your options and the direction you're going here!

Why waste your time and money on a car you don't even have a passion for from the get-go man??!! So instead of putting money in that 3 series, why not just stash up all your cash and be patience for an opportunity to present itself on a preowned ///M3? Don't get suckered in on the dealers markup just cuz it's the last ///M3.
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      09-24-2013, 07:25 PM   #9
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Originally Posted by Pertplus View Post
As an attorney, what recent college grad gets 2 $xx,xxx bonus checks from a law firm? Even from the perspective of Biglaw firms this sounds suspect. Plus, you're going to base your financial decisions on bonus checks you haven't received yet?

And let me get this straight, you will get possibly 2 bonuses totaling potentially mid-5 figures and you're going TO EVEN CONSIDER having your parents put down a down-payment for a 328i or M3? And you have loans to pay back? C'mon son! Where are your priorities?
Small Law firm, highly reputable lawyer and 2 BIG cases, one of them against British Petroleum (BP). They had a similar case in 2008 against BP and people in my position, who deserved it, received 20-$40K bonus checks (Yes, uncommon for any law firm to do so, I admit I am very lucky) the other case is going into mediation in a few days.

Regardless of Bonus check or not I would be able to lease 328i or 435i in a few months. Yes I would consider having my parents HELP ME put down a down payment on an M3 depending on how much money I have available at that point, how much I still owe in College debt, living expenses and other financial variables.

You are absolutely right, bonuses are not guaranteed and raise is not guaranteed, cases could get thrown out the water at any time, hell who knows if the economy tanks again I might not even have an income. I mentioned all of the above in order to try and paint the picture and just give more info on how I should come to a decision. With that said thank you for sharing your opinion, I appreciate it

BTW: the whole 328i lease was my mom's idea
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      09-24-2013, 07:30 PM   #10
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Quote:
Originally Posted by fatass View Post
Being financially responsible is a huge step into the real world. It's so easy to throw your money at some new toys, clothes and girls.

I don't see the huge point in leasing a 328i for the next 9 months. Bit of a waste of money when that cash could go towards a down on the M when you are ready to purchase. Unless your mother is planning to buy a car as well and will make full use of it I would pass on this option.

Driving around something old until you have the money/promotion in hand is really the best option. Fuck the dealers with their shitty used inventory thinking they can rape us for old stock. Wait 5-6 months and they'll have dumped the E9X as everyone will be absolutely clamoring for the new M3/M4. Hell, might as well just lease one of those since you'll be really pulling in the money.
Yea those dealers....

I hope to order an M4 maybe in 5 years down the line (Post-LCI) Euro Delivery is something I would really like to experience.
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      09-25-2013, 11:07 PM   #11
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You know you have it made when it's such a "pain" to have to drive a free Lexus around. And how is it not economical when your other two options basically amount to renting cars you don't really like to begin with?

I'm sure you know what the most financially responsible option is but at the same time it appears that your parents are well off and you have a promising career ahead of you so why not just do what you really want to do?
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      09-26-2013, 12:04 AM   #12
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On this forum, I seen some of these people's NICE ASS houses and castles on this forum (in a post your home thread) but in los angeles, the price of their castle would be a run down rotting piece of crap in (choose your own adventure): compton, watts, or south central.

so its easy for some ppl to say get your finances straight first, blah blah. Houses and family and all that good stuff will come at the right time. If you really want the car, get the damn car.
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      09-26-2013, 12:15 AM   #13
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If you are asking people in the forum what you should do then, you aren't ready. I can only recommend: Set your priorities, don't spend $$$ you don't have and never compromise.

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      09-26-2013, 08:04 AM   #14
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I would not bother with a 328. Its hardly a car worth shelling out for. I'm not saying its a lousy car. I'm just saying if you're near within reach of the M3/4, might as well save up for it.

I would get a near new civic or anything similar for A - B. Save up for the M3/M4.

When you make the jump from a Junkie car to a M3/M4, the woah factor is higher and it gives you opportunity to save up for mods.
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      09-26-2013, 01:56 PM   #15
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get an M3 now and enjoy now when you can
don't regret later
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      09-26-2013, 02:54 PM   #16
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How much debt do you have?

My opinion is not to buy a car until you've paid off your student loans. Even if you make 100k/yr still pay off your loans, it shouldn't take long.
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      09-26-2013, 03:23 PM   #17
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Quote:
Originally Posted by tdott
How much debt do you have?

My opinion is not to buy a car until you've paid off your student loans. Even if you make 100k/yr still pay off your loans, it shouldn't take long.
+1

Best advice from tdott out of any of the replies. DONT LEASE CARS. Save until you can pay for the toy with cash because it's a toy. Kill your loans, then buy a car.
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      09-26-2013, 03:38 PM   #18
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Quote:
Originally Posted by 6SpdFANATIC View Post
+1

Best advice from tdott out of any of the replies. DONT LEASE CARS. Save until you can pay for the toy with cash because it's a toy. Kill your loans, then buy a car.
why not lease?
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      09-26-2013, 03:42 PM   #19
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Quote:
Originally Posted by cambit View Post
why not lease?
You build no equity in the car when you lease. Also you are restricted in mileage and what you can do with the car while under the lease.

A lease is pretty much renting the car for a few years. The terms are never favorable if you are looking for best value for money.
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      09-26-2013, 03:53 PM   #20
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Looks like the poll is going in the right direction..

Drive the Lexus until you've (first) paid off all your college debt and (second) saved up enough money for dream car.
Trust me, you'll feel much better and accomplished when you buy your dream car without any other burdens to worry about. It's not the Lexus is a junky rust-bucket car that's unroadworthy or something, so go with it for now. If it is then suck it up lol..
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      09-26-2013, 03:54 PM   #21
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Leasing cars are for people with lots of positive cash flow or those that are stupid with money and want a new car every X number of years.

Best thing for this kid is to drive the lexus, pay off any debt, then decide if he deserves a reward or want to be smart with his money.
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      09-26-2013, 04:26 PM   #22
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Quote:
Originally Posted by cambit View Post
why not lease?
In addition to the replies to this question, keep in mind with a lease you are financing the depreciation of the car....and the worst part of the depreciation at that.

Leases are a game created by dealerships to keep someone's payments low on a monthly basis.

Pay off the student loans.
Save up and pay for the toy with cash.
Lol, and there is no way in hell he will heed this advice, because I sure as hell wouldn't have listened to me when I was fresh out of college.

Only offering my opinion because OP asked for it. Wish OP all the best regardless of the decision, but putting a 70K car in front of nasty financial issues like student debt is pure financial...
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