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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!

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Old 03-31-2013, 07:45 PM   #1
chubakakid
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Wink Hopeful 325i / Ci owner!

Hey guys! The name's Adam and I'm a new user to this forum. Since I was young i've always had a fascination with BMW's and because of their outstanding look and high performance factor.

The E46 is a car of my childhood which i've always admired and I'm now in the market of purchasing my first!

I have a budget of around 11,000.

Right now i'm working full time but will be going back to school in august full time with a part time job on the side to pay for insurance/gas/upkeep food & etc.

I'm also 19 Y/O and intend on paying for repairs/maintenance on my own.
Here's the catch, Insurance for a car for a driver with only a couple of months of history is ridiculously high in my city/state.

My question is, how much would I expect to be paying on a monthly basis for insurance for the 3-Series with given information.. Male, 19, 2 months of a driving record in NYC..

I intend on buying the car and having the policy under my mom's name with myself as the secondary driver and paying what ever that would be per month. Mum hasn't been in an accident in over 35 years.

Also, would it be stupid to jump into the 3-Series as my first vehicle? It's difficult for me because this is one of the ONLY cars that I can see myself driving. I hate the way most Hondas/Toyotas look, Nissans are okay but I have a huge love for German built BMW's..

Another thing.. What's the most I should be paying for a BMW as a first car as some are saying 11,000 is too much but I don't want a POS.

Forgive me for my noobyness but I wanted to introduce myself and after a few weeks of hard lurking I want to say hi to all of you knowledgable people!

Thanks

and !

Last edited by chubakakid; 03-31-2013 at 10:09 PM.
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Old 03-31-2013, 07:48 PM   #2
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OP, every person considering purchasing a new E46 should have at least $3,000 ready to refresh the car and make it road worthy. See the "costs" link in my sig. If your budget is $11,000, make it $8,000 +$3,000 maintenance. Your end result will be a car that will run circles around a car that's $11,000 and just driven as is.

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Old 03-31-2013, 07:57 PM   #3
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Piecing together what you've written, you live at home with your Mom. Otherwise, she would not be able to carry you on her insurance. The easy answer to your insurance question is to get the VINs of a couple of local cars for sale and have your Mom (or you) call the insurance company and get the rates to add it to your existing policy.

As far as the price, do a nationwide search on autotrader.com and cars.com for the car you are looking for. That will give you a price range.

To answer your question about whether or not the 3 series is a good first car, you have to ask yourself a few questions. Are you interested in working on your car and learning how to do it? Do you have a place to work on it? Do you have the time to work on it? If yes, then go for it. Otherwise, find a Toyota Corolla for the same money and wait until you are out of school.
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Old 03-31-2013, 07:58 PM   #4
chubakakid
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Thanks Mango! in my two weeks of hardcore lurking, i've learned that you're a bit of a legend around these parts

Any idea how much i'd expect to pay in insurance. I've been looking at DIY's and I feel like I'd be ready to tackle anything (except for tranny rebuilds and engine rebuilds and that ish~)

I'm a patient guy and love learning more about these vehicles so this is something very exciting.

Thanks for your input!
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Old 03-31-2013, 08:04 PM   #5
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Originally Posted by wildirish317 View Post
Piecing together what you've written, you live at home with your Mom. Otherwise, she would not be able to carry you on her insurance. The easy answer to your insurance question is to get the VINs of a couple of local cars for sale and have your Mom (or you) call the insurance company and get the rates to add it to your existing policy.

As far as the price, do a nationwide search on autotrader.com and cars.com for the car you are looking for. That will give you a price range.

To answer your question about whether or not the 3 series is a good first car, you have to ask yourself a few questions. Are you interested in working on your car and learning how to do it? Do you have a place to work on it? Do you have the time to work on it? If yes, then go for it. Otherwise, find a Toyota Corolla for the same money and wait until you are out of school.
Thank you for your input brother, it's greatly appreciated. You pretty much got the gist of so thank you for reading my story. I do intend on working on it on my own and getting the appropriate tools/equipment to take care of her!

Grazi
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Old 03-31-2013, 08:22 PM   #6
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+1 mango

OP, as long as you don't blow all your budget on the car itself and leave room for repairs you should be good. As others will tell you here, you should expect between $2000 and $3000 in repairs on just about any e46 that is out on the market for sale. Most people that sell these cars in the price range you will be looking at are getting rid of them because they need some attention and maintenance. Another thing is to make sure you keep another $2000 at least on hand at all times for unexpected repairs. These cars average between $2000 and $3000 a year to keep in tip top shape once they get into the 80k mileage and above range. Some years will be less and some more but that is a good estimate. Make sure that no matter what you get a pre-purchase inspection done on any car that you get serious about buying. I would recommend taking it to your local BMW dealer and spending the $125 to have them look it over. It will be well worth the money trust me. Unless you have a local independent shop that you know works on and specializes in these cars. Good luck in your search and be patient. Patience will also be key in making sure you don't end up with someone's nightmare of a car that they are selling. A bad one will kill both your wallet and your passion for these great automobiles.
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Old 03-31-2013, 08:57 PM   #7
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Mango's right. I bought my 325CI last December for $7800 with 107,000 miles on the clock. So far, probably dropped about 800 into it, plus about $100 today alone. A lot still needs to be done, but I like to think of this as a project car, and I'm trying to bring it back to showroom condition.
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Old 03-31-2013, 09:20 PM   #8
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Sounds good Monsieur Dubois, thanks for helping me put all this into perspective. You guys are all very helpful with keeping in touch with reality on what to expect.

Anyhow, i'm going to be making decent money, and If I purchase an 8500$ car and throw 2500-3000 (in refreshments IE: Water pumps & Filters & Bushing replacements etc..) and have another 1000 in case anything goes wrong in the course of the year I think i'll be good from what you guys are telling me.

If something catastrophic happens though I'll be pretty much screwed... preventative maintenence is the key from what i've learned thus far!

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Old 03-31-2013, 10:42 PM   #9
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Originally Posted by chubakakid View Post

Any idea how much i'd expect to pay in insurance. I've been looking at DIY's and I feel like I'd be ready to tackle anything (except for tranny rebuilds and engine rebuilds and that ish~)
You really need to call you mom's insurance company - nobody here is going to know what it will cost you. Go to Autotrader.com and find a year/make/model that you would likely buy, grab the VIN, and call your insurance company.

There are simply too many factors at play here. Just some that comes to mind - age, gender, marital status, vehicle year, make, and model, how far you'll drive to work/school, driving record, credit score, insurance company (Geico, State Farm, USAA, etc.), where you live (specifically...rating territory), specific coverages on your policy (for which there are a million different coverage/coverage limit combinations), etc.
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Old 03-31-2013, 10:53 PM   #10
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You really need to call you mom's insurance company - nobody here is going to know what it will cost you. Go to Autotrader.com and find a year/make/model that you would likely buy, grab the VIN, and call your insurance company.

There are simply too many factors at play here. Just some that comes to mind - age, gender, marital status, vehicle year, make, and model, how far you'll drive to work/school, driving record, credit score, insurance company (Geico, State Farm, USAA, etc.), where you live (specifically...rating territory), specific coverages on your policy (for which there are a million different coverage/coverage limit combinations), etc.
I realized that it would be an unreasonable request for someone to be able to figure out what I'd expect to pay for insurance..

Thanks for this though, I'll give the insurance people a call later.. ~_~

When I tried requesting an online quote for a car using all the info I could provide for MYSELF they gave me a quote for a 6 month premium with $3,246.20... This is not the american dream!

How could I pay 6500 a year for insurance on a car worth only 7500-10000..

(That being the most basic insurance combination as well)
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Old 04-01-2013, 01:06 AM   #11
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wow that is an insane insurance rate. As a third vehicle I just picked up a 2006 325ci on warranty until 2016 for $13k. Just be patient and keep looking! Comp + collision is running me a whopping $220 very 6 months...one of the brighter sides of being 40 with kids.
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Old 04-01-2013, 01:38 AM   #12
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Piecing together what you've written, you live at home with your Mom. Otherwise, she would not be able to carry you on her insurance.
My parents had me under their insurance through college and my first apartment until I got it myself off their own policy. Unless insurance policy has changed then it is possible for her to carry him under her policy not living with her. I could probably still be listed under their insurance if I wanted to.

Not saying he doesn't, just saying my experience.
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Old 04-01-2013, 03:25 AM   #13
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Wow that's crazy high quotes, I'm around $250/6 months but only liability insurance, if I get full coverage it will be more. I'm 20 and under my parents insurance, not bad yeah? Oh and check out my college thread welcome
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Old 04-01-2013, 03:28 AM   #14
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This is too relevant to me haha! Love it! I'll be checking it out.

Uh, a really good price but.... you live in Honolulu, I live in NYC..
I'll be checking out your thread now
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Old 04-01-2013, 03:40 AM   #15
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This is too relevant to me haha! Love it! I'll be checking it out.

Uh, a really good price but.... you live in Honolulu, I live in NYC..
I'll be checking out your thread now
Oh but you don't know Honolulu, people don't know how to drive...
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Old 04-01-2013, 10:31 AM   #16
chubakakid
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I can't imagine them being as aggressive and dickish as NYC drivers.. Although we are pretty good at being aggressive drivers, it's just universally unsafe for everyone.

Regarding that ridiculously high insurance quote.. This is another quote I got when I only had my permit..

I felt like stabbing an online robot agent in the foot after seeing these numbers..

http://imageshack.us/photo/my-images...130401304.png/

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Old 04-01-2013, 10:03 PM   #17
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Me two cents .
I'm in California & drive an 02 325ci
My insurgence is all of 110$ a month
That about 1300 & some change for the year
BUT I only have liability insurgence & that just makes my
Car legal to drive. No parentals help needed & I pay for all my repairs out of my own pocket
It's a win win for me & I've been doing that sincenmynseinor year in high school.
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Old 04-01-2013, 11:00 PM   #18
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Originally Posted by chubakakid View Post
I realized that it would be an unreasonable request for someone to be able to figure out what I'd expect to pay for insurance..

Thanks for this though, I'll give the insurance people a call later.. ~_~

When I tried requesting an online quote for a car using all the info I could provide for MYSELF they gave me a quote for a 6 month premium with $3,246.20... This is not the american dream!

How could I pay 6500 a year for insurance on a car worth only 7500-10000..

(That being the most basic insurance combination as well)
Quote:
Originally Posted by chubakakid View Post
I can't imagine them being as aggressive and dickish as NYC drivers.. Although we are pretty good at being aggressive drivers, it's just universally unsafe for everyone.

Regarding that ridiculously high insurance quote.. This is another quote I got when I only had my permit..

I felt like stabbing an online robot agent in the foot after seeing these numbers..

http://imageshack.us/photo/my-images...130401304.png/
It sounds like you can't even afford to own a car with your high insurance rates. You only have two months of driving experience; that plus the type of car you want and where you live will make your premiums quite high. It's all about the risk. With only two months driving exp, your odds of getting into an accident is sky-high. THAT is the American Dream; to each your own.

BTW - why did you wait until you were 19 to get a drivers license?

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Old 04-01-2013, 11:17 PM   #19
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Well I'm not sure if you're aware but New York has one of the most robust public transportation systems in the United States that literally runs 24/7.. For high school I would take a bus and a train to get there. To get to campus I would take two busses. To get to manhattan I would hop on the train and be there In a matter of minutes.

Simply put, I have never had the need for a car before (except for when I was interviewing for a job @ apple out in Long Island) to get a car.

These insurance rates will definitely NOT be as high when I actually acquire the thing. I'm looking at an August time frame to purchase at this rate... Just to ensure that everything is aligned.

Ps.. At 20,000 a year for just INSURANCE I doubt anyone would be able to afford it.
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