[JeepJeep]

Hi all! New to the forum (but i've been lurking for about 2-3 weeks - methodtim, youre hilarious btw), and I got some questions

I just got hired for a job that pays $15 dollars an hour (I'm a college student, so this is freakin amazing) and I was thinking about some numbers. I currently own an '02 Jeep Grand Cherokee and i was thinking if i sold that and used the money on a down payment (probably put 6k-8k down), i could lease a 335i Sedan for around $560 a month.

Now I'm expected to work around 15-25 hours a week, which gives me around $750 a month (after taxes). This leaves me a generous amount of room for gas (i don't drive that much) and unforseen expenses.

I wanted to hear peoples opinions on whether this is plausible or not. Should I look at a 328i instead of a 335? Should i just forget leasing all-together cuz im in college? Etc. etc.

Also a few random questions: What exactly is the difference between leather and leatherette? And what is BMW Select in regards to leasing? Is it worth it to go BMW?

[-=Hot|Ice=-]

Awesome! I get paid $15 and hour and I got a 328xi coupe. I too am in college and I'm leasing. Right now, you can probably get a 335i for a good price. It's certainly worth it to go BMW. Welcome to the site and post pics when you pic her up!


Are you looking to get a sedan or coupe? pricing can be more negotiable.

Leather is well real leather. Leatherette is fake leather. Some prefer leatherette because they say it breathes better and it's easier to maintain.

I have a 328xi coupe with the premium package, cold weather package. I put 0 down. I'm paying 600 a month.

[blue2fire]

Leather: Slaughtered Animal Skin
Leatherette: Vinyl

You might be stretching yourself to get a 335i, probably should wait for some time before you get it. I personally hate leasing a car as you never forget that you are driving a rented car that has to go back in time.

[JeepJeep]

Originally Posted by -=Hot|Ice=-

Awesome! I get paid $15 and hour and I got a 328xi coupe. I too am in college and I'm leasing. Right now, you can probably get a 335i for a good price. It's certainly worth it to go BMW. Welcome to the site and post pics when you pic her up!


Are you looking to get a sedan or coupe? pricing can be more negotiable.

Leather is well real leather. Leatherette is fake leather. Some prefer leatherette because they say it breathes better and it's easier to maintain.

Very nice! Do you think it would be too much of a stretch to go from the 328 to the 335? I would prefer a coupe, but I was thinking a Sedan is more practical, and cheaper as well. Which one is more negotiable?

Originally Posted by blue2fire

Leather: Slaughtered Animal Skin
Leatherette: Vinyl

You might be stretching yourself to get a 335i, probably should wait for some time before you get it. I personally hate leasing a car as you never forget that you are driving a rented car that has to go back in time.

Thanks for the answers

Yeah, im starting to think i may need a little more breathing room payment wise compared to how much im making.

[Mazen]

You're probably not gonna be paying for insurance but you really never know what can come up <$200 just isn't enough

[-=Hot|Ice=-]

Originally Posted by JeepJeep

Very nice! Do you think it would be too much of a stretch to go from the 328 to the 335? I would prefer a coupe, but I was thinking a Sedan is more practical, and cheaper as well. Which one is more negotiable?



Thanks for the answers

Yeah, im starting to think i may need a little more breathing room payment wise compared to how much im making.

The sedan is more negotiable. I've been saving up for almost 2 years now. I'm saving up for the next generation 335i coupe. Unless you really feel that a 335i is necessary and you HAVE to have the power and want to go really really fast, then I suggest a 335i. I personally suggest a 328i/xi.It's peppy. I believe it's the smart thing to do.

[BMW THIS!]

Do yourself a favor and dont spend everything you have on a car. It is just not worth it especially in this economy. You get fired first.........then your credit goes to shit.

Wait a few years and then buy one. Dont lease...buy (this is coming from someone who owns their own company and from an accounting perspective makes more sense to lease. And I have a degree in finance).

[JeepJeep]

Originally Posted by -=Hot|Ice=-

The sedan is more negotiable. I've been saving up for almost 2 years now. I'm saving up for the next generation 335i coupe. Unless you really feel that a 335i is necessary and you HAVE to have the power and want to go really really fast, then I suggest a 335i. I personally suggest a 328. I believe it's the smart thing to do.

yeah, i dont NEED more power, just would appreciate it haha

what year is your 328? do you have a good comfort zone between payments and how much you earn each month? Im a little worried about what Mazen said about $200 not being enough.

Originally Posted by BMW THIS!

Do yourself a favor and dont spend everything you have on a car. It is just not worth it especially in this economy. You get fired first.........then your credit goes to shit.

Wait a few years and then buy one. Dont lease...buy (this is coming from someone who owns their own company and from an accounting perspective makes more sense to lease. And I have a degree in finance).

Hmm, so you're saying keep the jeep? Well one of the reasons i was thinking of getting a new (or different) car is because of gas mileage. If im trying my absolute hardest i can get about 19-20 mpg average driving from only my dorm to my school (about 10 minutes of freeway, 1 minute of city driving). But its absolutely exhausting and boring and i hate it.

What if i went for an older BMW so i the payments would be less and i could keep more cash each month? Or are you just saying no to everything altogether?

[BMW THIS!]

most people on this board, imo, make at least $100K per year. One of my best friends, a surgeon who makes over $500K per year drives an 07 e93. Just some food for thought.

[-=Hot|Ice=-]

Originally Posted by JeepJeep

yeah, i dont NEED more power, just would appreciate it haha

what year is your 328? do you have a good comfort zone between payments and how much you earn each month? Im a little worried about what Mazen said about $200 not being enough.

My car is a 2008.

I'm comfortable between payments. My monthly earning will depends on how hard I work that month. I usually use my sick days for mid-terms/finals weeks. Again, I put nothing down. I suggest going to test drive both cars before making your final decision. I do a lot of city driving and am in traffic a lot. I couldn't afford the 335i at that time, but even if I could I wouldn't of gotten it at that time because I don't need it at this point in my life. I pay $500 for 6 months full coverage.

[HermesRider]

Originally Posted by BMW THIS!

most people on this board, imo, make at least $100K per year. One of my best friends, a surgeon who makes over $500K per year drives an 07 e93. Just some food for thought.

What do his ex-wives drive?

[JeepJeep]

Originally Posted by -=Hot|Ice=-

My car is a 2008.

I'm comfortable between payments. My monthly earning will depends on how hard I work that month. I usually use my sick days for mid-terms/finals weeks. Again, I put nothing down. I suggest going to test drive both cars before making your final decision. I do a lot of city driving and am in traffic a lot. I couldn't afford the 335i at that time, but even if I could I wouldn't of gotten it at that time because I don't need it at this point in my life. I pay $500 for 6 months full coverage.

Hmm, well thank you for the perspective. Yeah, i definately agree i dont need a 335i. I think if I were set on getting a BMW i would just do exactly what you recommended. But BMW THIS also made a good point and that kind of makes me worry. I don't believe i would get fired due to any errors on my part (everyone tells me im a good worker) but yeah, what if the economy goes even more sour and my boss is forced to lay me off.

Did you ever worry about getting fired or other catastrophes when you first got your car?

[HermesRider]

Best advice is to live comfortably. That means NOT overextending yourself. It is so much better to enjoy things like cars, boats, etc when you find that you can easily live AROUND them. In the words of Tyler Durden, "the things you own end up owning you."

It's good that you are asking advice in this case. I know the feeling when you get your sights on something you want; it makes it hard to think rationally. I had to have a friend talk me out of buying an expensive condo two years ago. Hated it at the time, but I shortly (and still) rejoice over that decision.

Finally, a 328 is an awesome car for a college student (for anyone really), and a huge step up from the Cherokee. There is no shame at all in that... and think of the money it will put in your pocket.

[JeepJeep]

Originally Posted by HermesRider

Best advice is to live comfortably. That means NOT overextending yourself. It is so much better to enjoy things like cars, boats, etc when you find that you can easily live AROUND them. In the words of Tyler Durden, "the things you own end up owning you."

It's good that you are asking advice in this case. I know the feeling when you get your sights on something you want; it makes it hard to think rationally. I had to have a friend talk me out of buying an expensive condo two years ago. Hated it at the time, but I shortly (and still) rejoice over that decision.

Finally, a 328 is an awesome car for a college student (for anyone really), and a huge step up from the Cherokee. There is no shame at all in that... and think of the money it will put in your pocket.

nicely put

Yeah, every time i come on here and see someone posting a new thread saying just ordered my new baby i get worked up. Dont get me wrong, i love my jeep, i just REALLY want a bmw for how much more practical, better looking, faster it is, etc.

Yeah, I think ill talk to my parents about maybe leasing a 328. Shouldn't insurance prices go down considering im going from a 4x4 to a sensible small 4 door sedan?

[bsamoul]

No, the BMW name itself will usually cause rates to go up, especially with you so young. Make sure your job is considered in today's times as 'secure' because if you get laid off, you can't afford payments and you're screwed. I would wait a little while first just to get some money in your wallet in case of an emergency.

[JeepJeep]

Originally Posted by bsamoul

No, the BMW name itself will usually cause rates to go up, especially with you so young. Make sure your job is considered in today's times as 'secure' because if you get laid off, you can't afford payments and you're screwed. I would wait a little while first just to get some money in your wallet in case of an emergency.

Yeah over the course of this night ive officially decided to wait untill im a little more secure. Thanks for the help guys, I was a little obsessed haha. It's just part of the omgosh omgosh i have to have that phase.

[blue2fire]

Originally Posted by JeepJeep

Yeah over the course of this night ive officially decided to wait untill im a little more secure. Thanks for the help guys, I was a little obsessed haha. It's just part of the omgosh omgosh i have to have that phase.

All a part of the E90post service

[lkn]

I'm assuming you still having your parents/guardians as a financial backup if anything happens with your job. A $15 job cannot pay for a BMW with all expenses that comes with the car. I would wait until you are done with college and have yourself a more stable job that you'll be able to afford the car.

Or you can have your parents buy you the car and you chip in the $15 you make an hour..

[JeepJeep]

Originally Posted by blue2fire

All a part of the E90post service

Originally Posted by lkn

I'm assuming you still having your parents/guardians as a financial backup if anything happens with your job. A $15 job cannot pay for a BMW with all expenses that comes with the car. I would wait until you are done with college and have yourself a more stable job that you'll be able to afford the car.

Or you can have your parents buy you the car and you chip in the $15 you make an hour..

Yeah, I do have forms of financial assistance (rich grandparents, helpful family, etc.) So I wouldn't truly get screwed, but I want to be as independent as I can.

What expenses come with the car other than gas? I thought BMW covered everything?

Nah, don't want them to pay for anything.

[BMW THIS!]

Originally Posted by HermesRider

What do his ex-wives drive?

LOL! He is still married to his first wife and has one kid.

[v12]

Originally Posted by JeepJeep

Hi all! New to the forum (but i've been lurking for about 2-3 weeks - methodtim, youre hilarious btw), and I got some questions

I just got hired for a job that pays $15 dollars an hour (I'm a college student, so this is freakin amazing) and I was thinking about some numbers. I currently own an '02 Jeep Grand Cherokee and i was thinking if i sold that and used the money on a down payment (probably put 6k-8k down), i could lease a 335i Sedan for around $560 a month.

Now I'm expected to work around 15-25 hours a week, which gives me around $750 a month (after taxes). This leaves me a generous amount of room for gas (i don't drive that much) and unforseen expenses.

I wanted to hear peoples opinions on whether this is plausible or not. Should I look at a 328i instead of a 335? Should i just forget leasing all-together cuz im in college? Etc. etc.

Also a few random questions: What exactly is the difference between leather and leatherette? And what is BMW Select in regards to leasing? Is it worth it to go BMW?

Congrats on your new job.

That isn't enough income. Keep your current car and save everything you make. You need cash in the bank, not only these days but really just a way of life.

Leatherette is an imitation of leather (thus not actual leather).
Not sure about BMW Select.

[328skidpad]

Remember that when you get the car your expenses will increase, because you will want to drive it more than a jeep and you may be surprised that some women will want to also mysteriously become your friend/mate which will definitely increase your expenses.

I personally would buy a CPO 06 325 or 330

or even a 02-03 330.

Working to just purchase a car is illogical. I remember many people doing this in highschool to have the best bling car and now most of them are working at gas stations because they never had their priorities straight. Especially now where cash is king and so is your credit rating.

Perspective of a business owner...