Re: Need 3 Series Driver Help
Just to chip in.
If you are looking to have power in your ride, stick to the WRX. If you are looking at the prestige/class comfort and a continental feel for your ride, then go for the BMW.
Now to look at the financial side which has been the subject of some debate.
1. Maintenance. You are already driving a 6yr old WRX. I'm sure that a 2yr old BMW will have less maintenance costs. Your WRX would have quite high mileage and wear and tear replacements will have to be factored in. Also, I think that a WRX, as a performance car, will have more technical issues. In the next 4 years, you will probably spend more on the WRX than the BMW.
2. In theory, any savings from upkeep of the BMW instead of the WRX could be used for paying part of your instalments. Also, the BMW should be more fuel economical so there might be some slight savings there (probably very slight).
3. Part of the instalment you pay every month goes towards a BMW with a higher residual value in OMV. I'm assuming that the BMW has a higher OMV than the WRX. Someone please correct me if I am wrong on this. Therefore, at the end of the life of the BMW, you would have more for your downpayment for next car.
4. Looking at it in a simple way would be to examine the depreciation. I have no idea what the depreciation of the WRX would be but lets say you are comparing $7k WRX depreciation to $9k BMW depreciation. This would be $2k p.a. and this translates to ..... $166 more per month. Is this affordable depre for you?
To sum up. On a general basis, I would agree with those who think that $3k pm is too little to be financially sustainable but I think that this approach should not be confined to the BMW but to you buying cars at all.The statement should not be not to buy a BMW but don't even own a car. However, you've already had a WRX for a while and it is fully paid you seem to be able to manage owning a car. It is good to note that you have 3/4 saved for your marriage etc in a few years time.
Bottom line is this. If your future needs like marriage and housing are planned and provided for (by yourself, parents or otherwise), sometimes you may just have to go with your heart.
