Author Topic: What kind of car should I get?  (Read 2525 times)

CharChar

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What kind of car should I get?
« on: October 17, 2015, 01:07:41 PM »
I currently own a paid off 2007 BMW 335xi with 122k miles on it. Let me just say that I absolutely love this car. It is super comfy which was not the case with my previous Scion xB. The ride is smooth and it has twin turbo engines so it can get on it! The other thing I really love is the heated seats. I know these features are not necessary (except for the comfort), but they are important to me (I am unfortunately a very big wuss when it comes to cold weather).

Things I don't like about the car...expensive to maintain & not the greatest gas mileage at 17city/25hwy

My thinking is that I could sell this car for 10k-11k and get a used hybrid for 7k-8k. So I'd get some money back and start reducing my fuel expenses. It doesn't have to be a hybrid, but I would really like something with around or close to 40mpg.

I test drove a Nissan Leaf and liked it but I'm not sure it would work for me at this point in time since I occasionally have to drive to the nearest city an hour away. Plus it was listed for 10k so I wouldn't make any immediate money from it, not that that is necessary but it is what I am hoping to do.

No kids, lots of stop and go driving for work, 4 door hatchback or sedan preferred but I'm flexible.

So what do you think?

cincystache

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Re: What kind of car should I get?
« Reply #1 on: October 17, 2015, 01:30:34 PM »
It would probably be tough to match the performance and feel of a BMW but I've heard good things about mazda. I think the Mazda 3 is good on gas as well and comes in a hatchback version.

A prius probably will not be much "fun" to drive but you'll get great mileage especially if you are driving a lot for work in cities.

bobechs

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Re: What kind of car should I get?
« Reply #2 on: October 17, 2015, 02:14:31 PM »
I think that if you can sell this car for ten to eleven thousand dollars you should do so and then buy another of the very same model  at the market price of about eight*, then sell it at ten to eleven and repeat, until you are very rich.


* based on KBB estimate for private sale of this yr & model car in good condition   KBB leans notoriously high on its estimate of what sales prices are achievable in most cases, and allows nothing for the cost of selling so personally I believe the car would be fairly well bought at under seven and exceptionally well sold at nine (the latter figure also happens to be KBB's price estimate for a car in excellent condition (which yours isn't, trust me on that))

frugaliknowit

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Re: What kind of car should I get?
« Reply #3 on: October 17, 2015, 02:26:11 PM »
If you are looking for 40MPGish, a hybrid is the correct path.  Keep in mind, something like $8K for a hybrid is not likely to drive anything like a Beemer.

clarkevii

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Re: What kind of car should I get?
« Reply #4 on: October 17, 2015, 02:42:31 PM »
I'd go with a used Prius.

Jack

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Re: What kind of car should I get?
« Reply #5 on: October 17, 2015, 02:58:19 PM »
KBB leans notoriously high on its estimate of what sales prices are achievable in most cases

KBB has been notoriously low, in my experience. The last three cars I bought couldn't be found for less than $1000+ higher than the KBB price. And even then, when I told other car enthusiasts about the price I paid, they were impressed I had gotten such a great deal. Of course, that's because I buy weird cars and am picky about things like manual transmissions....

However, I just checked Autotrader and that KBB does appear to be accurate for a 2007 335xi.

bobechs

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Re: What kind of car should I get?
« Reply #6 on: October 17, 2015, 03:26:47 PM »
KBB leans notoriously high on its estimate of what sales prices are achievable in most cases

KBB has been notoriously low, in my experience. The last three cars I bought couldn't be found for less than $1000+ higher than the KBB price. And even then, when I told other car enthusiasts about the price I paid, they were impressed I had gotten such a great deal. Of course, that's because I buy weird cars and am picky about things like manual transmissions....

However, I just checked Autotrader and that KBB does appear to be accurate for a 2007 335xi.

Remember, you are looking at asking prices on Autotrader, et al and most everywhere else you look.  No doubt some of those will not budge downward a penny even when money is waved over them, but a lot will. 

Ideally, genuine auctions would tend to establish what a cash-equipped and informed buyer is actually willing to pay for a given car today, but getting a bead on comparables from auctions is a trouble fraught affair.  I don't recommend it except in pure theory.

No point contending over that, though. You are right; you are always right. -But still- OP could become rich using KBB (or Autotrader, etc.)  as his absolute buying bible and using his super-spidey selling powers to turn twenty five percent a month on his involved capital, and drive free (except gas) while he flips units at a couple thou over the bible-ordained prices, nicht wahr Schatz?

CharChar

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Re: What kind of car should I get?
« Reply #7 on: October 18, 2015, 11:11:49 AM »
I understand im not going to find anything that drives like my bmw for my price range. I just figured i have a chance to fenagel 1k-2k into my life to put towards my only debt (cc) and then immediately reduce my fuel expense (The beemer takes premium). This combined with my recent 11k/yr pay increase could give me a significant boost towards becoming debt free and increasing my savings rate.

Anyway, i think i need to test drive a prius. What about the 2010/2011 honda insights or toyota camry hybrids? Im seeing a few of those in my search. In the area i live in, i think my options consist of pretty much these three cars.

Kroaler

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Re: What kind of car should I get?
« Reply #8 on: October 19, 2015, 01:09:51 PM »
I had 3 2015  BMW 335I s last year for work... you are in fact going to miss that car.  The good news is, at 122K miles you were about to start getting nickel and dimed to death lol.  The things I miss the most:

1.) Heated do dads in the winter time
2.) The smoothness on the highway

Things I don't miss
1.) The acceleration, the 335 is stupid fast for commuting, that performance isn't needed, I don't miss it at all.
2.) People cutting me off and doing generally rude things that only happened when I drove the BMW....

I don't own one, but I think the Prius is the model to beat for hybrids, I could be wrong though. Again no matter what you do, your getting out of your bmw before the high maintenance kicks in, so thats good.