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General E46 Forum
This is the place to get answers, opinions and everything you need related to your E46 (sedan, coupe, convertible and wagon) BMW!

View Poll Results: Stay with E46? or trade for 2010 or 11 WRX
Yes 38 59.38%
No 21 32.81%
Maybe 5 7.81%
Voters: 64. You may not vote on this poll

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Old 10-06-2010, 11:05 AM   #1
mstkenny04
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Lightbulb Should I let go

Ok so went to the subaru dealership to get an offer that they proposed to me for my 2001 BMW 325Ci. Has 95' on it and in great condition. auto trader offered $5,454 for my car, but they said if i take their 2010 or 11 i think subaru wrx hatch they will pay 7k for my car. I owe $7,030.25 on my car. What do you think forum? Go or no go?
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Old 10-06-2010, 11:28 AM   #2
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You owe 7 grand on your 10 year old E46 and I would assume you want to finance the new car, right? And if you follow your payments like you did with E46 you will owe even more money and when the time comes you will ask the same question but with a different car.

Why not just get rid of your debt and buy something you can actually afford.
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Old 10-06-2010, 11:30 AM   #3
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You'd be better off trying to sell your Ci yourself and getting 7k. However yes ^^ you need to think about what you can afford, not just what you want.

Also, your poll isn't a yes/no answer, so I can't vote
I'd jsut say keep your BMW
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Old 10-06-2010, 11:32 AM   #4
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I test drove a 2010 WRX and didn't enjoy it. It's faster than a 330 but not enough to make up for all of the stuff I didn't like (cheap plastic interior, beer-can doors, etc.). Moving from a 325 might make it worth it. I'd go check out a GTI.

What's the big deal about car payments? For a lot of people, it's just like paying the rent. All of you should move out of your houses and into something you can afford. For most of you, that will be a tent in the woods where camping is free.

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Old 10-06-2010, 11:39 AM   #5
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I test drove a 2010 WRX and didn't enjoy it. It's faster than a 330 but not enough to make up for all of the stuff I didn't like (cheap plastic interior, beer-can doors, etc.). Moving from a 325 might make it worth it. I'd go check out a GTI.

What's the big deal about car payments? For a lot of people, it's just like paying the rent. All of you should move out of your houses and into something you can afford. For most of you, that will be a tent in the woods where camping is free.
It's called being fiscally responsible. Buy what you can afford- if you have to finance it then you can't afford it. People think payments are normal because they live beyond their means as do a lot of people. It is the American way and is completely foolish.

My cars are 5 and 6 yrs old but both are paid for and have a LOT of miles left in them, so I'll keep them for quite a while.

Everyone has their priorities though and if a new car is worth the debt to you, then accumulate all you want I'd rather have my money working for me, rather than against me.
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Old 10-06-2010, 11:47 AM   #6
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I test drove a 2010 WRX and didn't enjoy it. It's faster than a 330 but not enough to make up for all of the stuff I didn't like (cheap plastic interior, beer-can doors, etc.). Moving from a 325 might make it worth it. I'd go check out a GTI.

What's the big deal about car payments? For a lot of people, it's just like paying the rent. All of you should move out of your houses and into something you can afford. For most of you, that will be a tent in the woods where camping is free.
Houses build equity and increase your net worth over time.

Cars simply lose value
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Old 10-06-2010, 11:48 AM   #7
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It's all relative. You'll be spending your money on maintenance/repairs on an older car, or car payments on a new car w/ a warranty. At least with a new car, you have some sort of concrete idea/stability on how much cash you will dish out each month whereas on a used car, anything can happen.
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Old 10-06-2010, 11:48 AM   #8
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Houses build equity and increase your net worth over time.

Cars do the opposite
Not in the past 6 to 8 years.
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Old 10-06-2010, 11:51 AM   #9
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Not in the past 6 to 8 years.
Recently we've had a hiccup in the economy, yeah. But homes will have significant value when they are paid off in 15 to 30 years. Cars, not so much.
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Old 10-06-2010, 11:54 AM   #10
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What's the big deal about car payments? For a lot of people, it's just like paying the rent. All of you should move out of your houses and into something you can afford. For most of you, that will be a tent in the woods where camping is free.
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Old 10-06-2010, 11:58 AM   #11
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DO IT!!! I was looking at the STI myself but I can't see myself in a Subaru at all. If it suits you, and they're paying off your POS, let it go! Put a few bucks in the Subie and go hunt M3s and 335s Your payment won't be that much if they give you 7k for your car. I did the math the other day, maybe $350-450 depending on what u put down and you'll get a brand new warranty. Imagine that worry free driving They actually have a lease deal for the base WRX for like $309 and finance at 1.9%. You're just losing money everyday you keep that BMW

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Old 10-06-2010, 12:07 PM   #12
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The problem with the WRX these days is the normal asking price around $28k. That's awfully close to a CPO'd 335.

Just sayin.
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Old 10-06-2010, 12:13 PM   #13
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Originally Posted by SLVR JDM View Post
It's called being fiscally responsible. Buy what you can afford- if you have to finance it then you can't afford it. People think payments are normal because they live beyond their means as do a lot of people. It is the American way and is completely foolish.

My cars are 5 and 6 yrs old but both are paid for and have a LOT of miles left in them, so I'll keep them for quite a while.

Everyone has their priorities though and if a new car is worth the debt to you, then accumulate all you want I'd rather have my money working for me, rather than against me.
No, it's called "not riding the bus."

Don't get me wrong, I've never made car payments. But when this car craps out on me (i.e. when I get a repair bill that is around the value of the car) then it will be time for a new car. At that point, I doubt I'll have enough cash laying around for anything other than a 1984 datsun pickup. So my options will be (a) buy the datsun (no thanks), (b) ride the bus (no thanks) or (c) make car payments.
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Old 10-06-2010, 12:21 PM   #14
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jeezis!

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Old 10-06-2010, 12:36 PM   #15
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Originally Posted by SLVR JDM View Post
It's called being fiscally responsible. Buy what you can afford- if you have to finance it then you can't afford it. People think payments are normal because they live beyond their means as do a lot of people. It is the American way and is completely foolish.
If you are using a strict definition of the phrase "have to" in conjunction with 100% financing, then I agree, but if you are offering a blanket statement then I disagree because financing is perfectly reasonable under certain circumstances.

Your overall point about people foolishly going into debt is, of course, correct.
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Old 10-06-2010, 12:39 PM   #16
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wtf how many miles do you have on your car?? a 2001 330ci shuold be worth more than 7k unless its over 150k miles.
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Old 10-06-2010, 12:47 PM   #17
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You owe 7 grand on your 10 year old E46 and I would assume you want to finance the new car, right? And if you follow your payments like you did with E46 you will owe even more money and when the time comes you will ask the same question but with a different car.

Why not just get rid of your debt and buy something you can actually afford.
Exactly ^^^

Sell the BMW yourself. You can always make more money selling yourself than you can with the dealer. All you have to do is clean it up nice, dont skimp on the armoral, and take good pics. Take that money and go buy a nice civic or something reliable that you can afford. Any real trade-in value that the dealer gives you, he's gonna take back in the price of the new car. The only problem with seling private is most ppl are unwilling to give you cash if you dont have the title. So you are gonna have to come up with the cash to pay the bmw off in order to sell it.
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Old 10-06-2010, 12:58 PM   #18
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just keep the car... you know its nice!!!
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Old 10-06-2010, 01:01 PM   #19
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It's all relative. You'll be spending your money on maintenance/repairs on an older car, or car payments on a new car w/ a warranty. At least with a new car, you have some sort of concrete idea/stability on how much cash you will dish out each month whereas on a used car, anything can happen.
Good point!
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Old 10-06-2010, 01:16 PM   #20
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It all depends on your choice of preference... If your trading in your E46 How do u feel about getting into another long term financial commitment?? On the other hand you drive a BMW that you almost own when your done paying off the note. granted its a new car, mabye you should wait awhile for a newer BMW. Prefferably am M. Yea its a 10 year old car but it looks great, sexy as hell, its a BMW, and most importantly your not gonna have that note hanging over your head for a long time to come. Its all about your preference in the long run. All cars lose their value overtime.....
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