advice on buying a car

[STIJibz]

Hey whats going on, I'm posting this from a friends nickname as I have not registered yet. My parents have an '02 530i that is ending its lease in may '05 w/ 32K miles. We are paying about 650/month for it and the sticker price for it was about $44K. I'm in the market for a car, preferably a sedan in the 20-25k range. If I do buy it, it will be next summer. Obviously the legacy fits this description (what other cars do?). I also have the option of buying the 530i off the lease. I love the car, drive it a lot and its more than i can ask for. However, I'm not even sure how much it would be to buy at the end of the lease (my rough calculations are that 650/month X 36 months = $23.5K, 44K - 23.5K = 20.5K). But a new car is a new car. So one thing that has been on my mind is insurance. Would a used bimmer cost more to insure than a new sedan (not the legacy specifically, but others as well that are within the same price range)? I'm a 20 year old male with a clean record, but have never owned a car before. Also, any other advice that i may need but am not asking for is appreciated. one more thing....can anyone make a list of non-domestic sedans that fall within the 20-25K area. this is what i have so far: accord - no comment altima - no comment TSX - can you find one for that cheap? not enuff power? G35 - can you find one for that cheap? too plain Legacy GT - its hot last thing i want to mention is that i really enjoy driving and when im at home i pretty much use my parents car. It has enough power, has everything i am looking for. Only thing it lacks is a sound system (something important to me). I have never had any major problems with it. And I also know the history of the car. I also will be using my car in Binghamton, NY where it snows a lot so AWD is a nice luxury. thanks for any help, krazykidd Cliffnotes: More expensive insurance, '02 530i or 20-25K new car? What other sedans fall in the 20-25K range? Buy or Lease?

[IwannaSportSedan]

[quote name='STIJibz'] I also have the option of buying the 530i off the lease. I love the car, drive it a lot and its more than i can ask for. However, I'm not even sure how much it would be to buy at the end of the lease (my rough calculations are that 650/month X 36 months = $23.5K, 44K - 23.5K = 20.5K). But a new car is a new car. So one thing that has been on my mind is insurance. Would a used bimmer cost more to insure than a new sedan (not the legacy specifically, but others as well that are within the same price range)? I'm a 20 year old male with a clean record, but have never owned a car before. Also, any other advice that i may need but am not asking for is appreciated. [/quote] First off, you aren't taking depreciation into account. The BMW will depreciate quickly in the first 24-36 months and then begin to depreciate much slower, mostly by mileage and condition. Other cars don't level off like a BMW, and continue to depreciate. Secondly. Make sure you can afford to maintain the BMW. Lesson 1 of used car purchasing. Know what you are getting into. Most people suggest against buying a used luxury car unless you know you can afford the maintenance. A 44k BMW is sold to well-off folks, who can afford to maintain it. If they get off the lease, or sell it used, the next person may buy the car cheap, but the maintenance costs don't go down, they go up. Remember, the car won't be warrantied forever. BMW parts are not cheap. BMW Service is VERY not cheap! [quote] one more thing....can anyone make a list of non-domestic sedans that fall within the 20-25K area. this is what i have so far: accord - no comment altima - no comment TSX - can you find one for that cheap? not enuff power? G35 - can you find one for that cheap? too plain Legacy GT - its hot [/quote] Accord, Camry, Altima, Kia, Hyundai are all bland, and from your post, I can tell that isn't what you are looking for. TSX - newer, so few cheap, Plus it is highly rated, and tends to sell fairly well. It may be attainable and reasonably priced, but not a smokin deal. Less power, and have to rev to get it. G35, by the time options are added are going to be in the 30k+ range, unless you want a stripped-out model, which are rare on high-zoot infinity showrooms. Good power, styling and interior debateable. Audi A4 1.8T - Reliablility questions, and you'd have to look at used or holdovers to get into your price range, when condidering Quattro. FWD is cheaper. Again running into maintenance costs. You said non-domestic, but have you considered the Chrysler 300? Supposedly it is good. Hemi would be out of reach, but it still has a street-rod look. Maybe not, whatever. Legacy might actually be best option, and more powerful and cheaper to insure than WRX or other cars that insurance considers "sports cars" Reliable. Volvo - S40. Lots of people like, but T5 and AWD are going to push it beyond your budget. [QUOTE] last thing i want to mention is that i really enjoy driving and when im at home i pretty much use my parents car. It has enough power, has everything i am looking for. Only thing it lacks is a sound system (something important to me). I have never had any major problems with it. And I also know the history of the car. I also will be using my car in Binghamton, NY where it snows a lot so AWD is a nice luxury. thanks for any help, krazykidd Cliffnotes: More expensive insurance, '02 530i or 20-25K new car? What other sedans fall in the 20-25K range? Buy or Lease?[/QUOTE] You can lease a car, but you won't be able to mess with the sound system, or much of anything else. You'd basically be paying subaru for the priviledge of driving their car for a couple of years, and guaranteeing them that you'll drive it for that long (they want all the lease payments you agree to pay them, getting out early, if possible, costs.) You'll have no equity in the car after the lease term, and you'll be back to square zero. I am of the opinion that if you can't make the payments to buy it, you can't afford it. Leasing is more trouble than it seems, and you come out of it with less than you think. You pay someone money, and interest, and get the use of a car, but you get nothing in the end, but less money in your pocket.' I would really crunch your expense and income numbers, and find out what you can afford first. What kind of credit can you get? At what rate? After payments and insurance, will you be able to repair the car if need be? Will you be able to put gas in it, or just pay for a car to look good in the driveway? Once you know your numbers and what you are comfortable with, then find a car that fits those numbers, and see if you can get any deals. A couple years used isn't the end of the world, either, since the depreciation hit will be taken by someone else. (you'll lose less equity on the car if you want to sell it again later.) Just make sure a Used car isn't going to take you to the cleaners for maintenance, like luxury cars can. Good luck, give it some honest thought, and let us know/ask us questions... Welcome to the board, and feel free to sign up, even if you don't have a Legacy. I don't. Yet.

[MasterZeus]

Wow, great post. I am also in the market and learned something very important. Check out the message boards of the car you are interested in. See if those people have similiar interests, values and/or personalities. That way, if you want to do things like mod or just find out about your car, you can pleasantly do so. For my car, we were considering: Mazda 6, TSX, TL, VW Golf, 300, LGT, Accord, G35 and some others. This is what I found (sorry I don't mean to insult anyone, this is just what I found on the various boards I visited): The people on this board are great! (surprise, surprise) :D I liked the Acura and Infiniti people, but most of them had way more money than I would ever have and were willing to throw it away. :eek: The Mazda, Honda and VW people were ok, but many were childish. :( The people on the Chysler 300 board, well I am not even going to go there! Some were talking about reveving the engine all the way up to 3000 RPM! Others chimed in that you shouldn't do that as you will hurt the engine and ruin the gas mileage! Yeah, that is NOT me. :lol::lol::lol:

[GBY]

Moved to Pre-Purchase questions. I agree with what others have said regarding the maintenance cost to the BMW, probably likely to be twice that of the Subie. Likewise with insurance, it's considered a luxury car will therefore more than likely be more than the Legacy. You're also going to be getting towards the end of the warrantly period on the B. Dave.