Need some advice.
08-19-2009, 08:23 PM
#23
Contributors
Join Date: Sep 2007
Location: Jersey
Posts: 7,053
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2004 530i
Model Year: 2004
Originally Posted by krusir' post='982225' date='Aug 19 2009, 02:59 PM
Call me old thinking .... I am 40+ yrs old. If I knew my kid make $260 a week, I am not going to give him e60 unless I am willing to cover the difference. As a e60 owner and in this board, sure I want to advise friends here to keep, as you said, "you are on your own", I'd suggest sell it and get a more reliable Jap. car. When I am age 19, I rode a 150CC motorcycle and fix all the problem myself. Save more and prepare for higher education as others mentioned. You are young and better BMWs already on the way.
Button Line, we all know that how much maintenance cost this thing will be. If you are handy and have place to fix most of problems, the parts cost is acceptable.
Button Line, we all know that how much maintenance cost this thing will be. If you are handy and have place to fix most of problems, the parts cost is acceptable.
08-19-2009, 08:25 PM
#24
Contributors
Join Date: Sep 2007
Location: Jersey
Posts: 7,053
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2004 530i
Model Year: 2004
Originally Posted by C's Bimmer' post='982919' date='Aug 20 2009, 12:13 AM
Come to the Meet on Saturday and I'll tell you what you should do. 
08-19-2009, 08:28 PM
#25
Contributors
Join Date: Feb 2006
Location: NY
Posts: 14,646
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2008 Silverstone II E60 M5 2012 E70 AW X5 50i Sport w/ LCI Aero Kit and Rocker Panels
Originally Posted by theXman' post='982933' date='Aug 20 2009, 12:25 AM
Come to the meet but don't listen to this guy, his advises would put a hole in wallet and you will end up living paycheck to paycheck.
08-19-2009, 08:37 PM
#26
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
Originally Posted by C's Bimmer' post='982940' date='Aug 20 2009, 12:28 AM
It's advice, not advises. Jesus man...stop drinking all the time. Groan, groin, advises, advice. You did see my other post about your Groan/Groin comment, right D? LOL!!! Hahahahahaha!!!!
08-20-2009, 07:52 AM
#27
Contributors
Join Date: Sep 2007
Location: Encino, CA
Posts: 1,712
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 04 545i - Titanium Silver/Black, Sport pkg, Comfort Seats w/ Lumbar, Premium Sound, power rear sunshade, Adaptive Xenon Headlights, Steptronic, Park Distance Control, Fold down rear seats w/ski bag, Aux jack, 6-disk changer, puddle lamps...
Engine: Custom Remus cat-back exhaust w/chrome square tips, K&N Air Filter, Charcoal Filter Removed, Sprint Booster :-), 50/50 mix of 91+100 Octane, EuroRev ECU Remap (coming soon lol), Dinan High-Flow Throttle Body (coming soon...maybe lol)
Interior: Portable Sirius Stilletto 100 w/car kit, Garmin Nuvi 680 mounted below rear-view mirror, LCI-style I-drive knob, Dark Poplar Center Dashboard Trim.
Exterior: E60 forum clings, 5% rear tint, ACS roof spoiler (painted black for distinct look against limo tint), ACS trunk spoiler, ACS add-on front spoiler and rear apron (awaiting installation), "18 Black Staggered BeBeS Style OER (emergency replacement for cracked sport 124 rims), black kidney grill, white accessory lighting (including license and trunk lamps), Angel-eye upgrade, AIB xenon-matched fog lamps, AIB V3's on order, red rear reflectors
The E60 is an awesome machine - the V8 simply enhances it. But, it can be a costly endeavor. My advice, considering your current financial state, is to keep the car only if you can afford and secure an aftermarket warranty. If you haven't changed your battery yet, that alone can be upwards of $200. A failed water pump can cost over a grand. Are you responsible for insurance premiums as well? If so, at your age with such a high-powered machine, your insurance can be reasonably assumed to be astronomical vs insuring an economy-type car. Factor in the use of premium-only fuel, a sub 20mpg city driving figure, and other costs and this car can get away from you financially very quickly over the long haul. Though loyalty to the E60 would have me tell you keep her, I think it's far better for you to start your 20's without such a heavy worry/financial burden. The fun-factor of the car is lessened dramatically if you have to spend time worring if today would be the day something breaks on the car.
08-20-2009, 08:43 AM
#28
Members
Thread Starter
Join Date: Aug 2009
Location: Atlanta
Posts: 187
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by advancedlogic' post='983350' date='Aug 20 2009, 11:52 AM
The E60 is an awesome machine - the V8 simply enhances it. But, it can be a costly endeavor. My advice, considering your current financial state, is to keep the car only if you can afford and secure an aftermarket warranty. If you haven't changed your battery yet, that alone can be upwards of $200. A failed water pump can cost over a grand. Are you responsible for insurance premiums as well? If so, at your age with such a high-powered machine, your insurance can be reasonably assumed to be astronomical vs insuring an economy-type car. Factor in the use of premium-only fuel, a sub 20mpg city driving figure, and other costs and this car can get away from you financially very quickly over the long haul. Though loyalty to the E60 would have me tell you keep her, I think it's far better for you to start your 20's without such a heavy worry/financial burden. The fun-factor of the car is lessened dramatically if you have to spend time worring if today would be the day something breaks on the car.
I just moved to NY from GA for school. This is going to sound really stupid (and it is) but i only have liability insurance on the car.. Meaning that if i was to get in an accident, i would be fucked. Its the minimum insurance needed in GA and i couldnt really afford anything else at the time. If i was to get a NY insurance now i would be paying a shitload of money just because of my age. Ive been thinking and ive come to see that ive been really lucky so far with no accidents or anything going wrong with the car. I dont think im going to push my luck anymore. Yesterday i put the car on craigslist and i got a lowball offer of 15,500 cash. This is a shitty offer but i took the car to the dealership and they quoted me for 14k as a trade-in. Im really stuck in a dilema. I either let go of the car for a cheap price now or keep putting miles on it, with liability only insurance and no security if something was to go wrong with the car. As of now im considering this guy's offer.. :S this sucks.
08-20-2009, 08:55 AM
#29
Contributors
Join Date: May 2009
Location: SoCal
Posts: 10,496
Likes: 0
Received 2 Likes
on
2 Posts
My Ride: 2008 550I LOADED, all options except HUD and NV
Originally Posted by augustrush42' post='983416' date='Aug 20 2009, 09:43 AM
I just moved to NY from GA for school. This is going to sound really stupid (and it is) but i only have liability insurance on the car.. Meaning that if i was to get in an accident, i would be fucked. Its the minimum insurance needed in GA and i couldnt really afford anything else at the time. If i was to get a NY insurance now i would be paying a shitload of money just because of my age. Ive been thinking and ive come to see that ive been really lucky so far with no accidents or anything going wrong with the car. I dont think im going to push my luck anymore. Yesterday i put the car on craigslist and i got a lowball offer of 15,500 cash. This is a shitty offer but i took the car to the dealership and they quoted me for 14k as a trade-in. Im really stuck in a dilema. I either let go of the car for a cheap price now or keep putting miles on it, with liability only insurance and no security if something was to go wrong with the car. As of now im considering this guy's offer.. :S this sucks.
Keep waiting for an acceptable offer. If all you can afford is liability insurance, you really should get rid of it. Because if something happens it can really jeopardize your future and your schooling. That said $15.5 is ridiculous. Sell it for an acceptable price (check Edmunds.com for "true market value") and then go on with school with a cheaper car for now. That way if you wreck it no real harm done.
08-20-2009, 09:01 AM
#30
Contributors
Join Date: Sep 2007
Location: Charlotte, NC
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 525
Model Year: 2004
Tough decision as an e60 certainly gets you high style points in college. But if money is really tight and your balancing a car versus tuition costs, your education is by far more important and in the end will enable you to buy many many more cars.
I say sell it for a good price and buy something economical to get you through through school. Pocket the rest to pay for tuition.
If your thinking of trading your 5 for a 3 with lower miles, my sense is that your money isn't that tight.
I say sell it for a good price and buy something economical to get you through through school. Pocket the rest to pay for tuition.
If your thinking of trading your 5 for a 3 with lower miles, my sense is that your money isn't that tight.