I am trying to decide what to do and would like the input of the FatWallet community. I am driving a 1998 Ford Mustang and would like to upgrade. I am finally making good money, so now is the time.

I would really like to get a BMW 3-Series (2003-2005 330 or 2006-2008 325/328/330). I am trying to decide whether to buy or lease.

If I lease, I want to keep the terms to 24 months and the payment to $300-350
If I buy, I will probably look at a 2003-2005 330i or 330xi.

Personally, I like to pay cash for everything. In this case, I would like to purchase something for $14k or less. But because I will be getting paid $0.48/mi next year for approxmiately 10k miles, totaling $4800, I may consider leasing.

If I buy, should I look at local dealerships, or private owners for the best deal? If I lease, has anyone tried Leasetrader or Swapalease, or should I stick to longer terms through the dealers?

Any advice or suggestions? Thanks a ton!

All I know is if someone were paying me .50/mi, I would be driving an old civic and not a BMW.

comp98 said:If I buy, I will probably look at a 2003-2005 330i or 330xi.

Personally, I like to pay cash for everything. In this case, I would like to purchase something for $14k or less.

I just saw that a 2004 (splitting the year difference) 330xi is $23k KBB. How do you expect to get one for under $14k?

14k for a 03 330.. good luck

Buy it and sell it next year. You'll make a small fortune.

showing off to strangers is worth risking your life IMO.

totally worth it.

Hate to hijack, but curious if anyone is interested or has ever put together a thread on the myriad of options with regards to structuring car ownership/lease for business use? I'm just thinking through my options for my recently acquired S-corp and the business vehicle I am contemplating purchasing. Didn't see any relevant threads after searching. TIA.

FYI, accountant tells me that buying will require a payroll gross-up on an annual basis to account for personal use; however, lease expense can be fully deducted. Also, buying on company's books will require higher insurance. Finally, disposition of a bought car requires something with the accumulated depreciation (which I believe she stated is on a 5-year schedule).

comp98 said:Thanks for the advice. I have a local guy who bought a wrecked 2004 330xi with 48,000 miles for just over $5k. He estimated rebuild costs of $7k for a total of $12-14k. Now, this is risky, being wrecked and having a salvaged title, but I figured buying that low I could always sell it after a year or two. I have seen a few go for around that with clean titles on eBay recently. I did do research on both KBB and Edmunds and know that the price is between $22-26k. I have done the research, have read all about leasing vs. buying, but wanted some advice specific to my situation and my purchasing/leasing power. Thanks for the tips!

good luck with "always sell it after a year or two" on a salvaged car

on second thought, I did see some clean title, low mileage, 2006 BMW M3s selling for $5k from Nigeria. Maybe you should try that

Lease; nothing looks sadder than a 7 year old bmw driver. rollin' like he's got money.

the 335i is the top dog for the E92 body style. If you preferred the older E46 body style get the 135i. The turbo system can be hopped up +70hp easily with a flash-load vishnu tune for even more fun.

bmw are lease cars; they are expensive:
1. Maintenance KILLS. bmw drives you a loaner to work; takes your car. brings back when done.
2. Loaners always if you drive it in for work that takes longer than an hour or two. Free shuttle rides by folks in crazy fast SUV's to and from work as well. WARNING they drive the machines they go so fast you and others will be grappling each other to hold on.
3. Warranty; German cars about 48-50K thats it. then isht starts to hit the fan.

A BMW is a hottie car; hottie chicks look even hottier(sp) in them. They want to drive them; get the steptronic. Always get a coupe; black; triple black; trust me on this one it is the highest resale unit of the 3 series period. triple black all features.

Lease it; drive it like you stole it; let them change the oil; put her away wet and return it and get another one.

Non-bmw leasing companies are much better than bmw financial i've seen 18K/year mileage 39-month leases; triple-zero. My last lease was 12k/year 39-month triple-zero with one free month lol.

order car; wait in line or do euro delivery. Once the car is at the docks and your name is on it ; wait a month or so to clear customs and delivery. A hot bmw will never be in stock; period. It is the junk that is on the lots. 3 series are always wait-list-only for in-demand high resale models like a 330i triple black all options or 335i triple black all options or M3. If you ever see one on a lot; run it is probably a lemon or demo car - DO NOT WANT -

I'll tell you what i paid it may have sucked. this was the 2002 330ci coupe triple black all options but nav. Delivered to work with all paperwork; first payment was due 120 days (30 days no payment). $587 after taxes (city 7%/8% i dont recall) per month for 39 months. Triple-zero no cash due at all. When returning this black beauty they checked the tire wear; spare tire; odometer; and once over the body; thanks! have a nice life. (not bmw financial). they didn't mind that one rear rim had curb rash. They did count the keys. NOT ALL LEASORS are like this.

The payment for lower tier POOR credit of 680 was like $707/month but thanks to dispute on Equifax trick we were in the upper tier 780+ which impacted the payments greatly. I think the average credit score of bmw owners is 780+ except for those gangta folks.

Anyways drive around and check out the folks driving the old bmw's versus the shiny new bmw's you will tell who bought and who leased. lol.

Be aware when using Swapalease and just assuming a lease in general. From the time you sign the last piece of paperwork, until the day you can pick up the car...we are talking over a week. Plus, the whole process with BMW financial takes up to 6 weeks. I have done two swaps, one as the the person taking over and then one getting rid of.

The guy who gave me the car put an extra 2000 miles on the car from the start of the process until the end and never told me. I didn't see it until after the car was in my possession. So much for trusting people. I know, I know, I was an idiot for not checking it myself, but who would think an extra 2000 miles would have been on there? Anyway, there was nothing Swapalease or BMW can do, so I was screwed out of that. BMW also has a $500+ transfer fee, so that is an extra cost.

Would I do it again? Yes, if it was a good deal and I knew EVERY SINGLE THING ABOUT THE CAR. It would have to be a really great deal though.

One more thing, I am sure there are good salvaged cars out there, but is it really worth the risk of buying a salvaged BMW? The costs if something goes wrong gives me the chills and something WILL go wrong with a salvage...no matter how good the mechanic is.

I love BMW and miss my 2002 330ci that I sold, but I like the money I am saving not having to make repairs on it after warranty a little more.