Hi Fellas
Just landed a graduate job, therefore looking to upgrade my car. I've always been a fan of convertibles and BMWs, so I'm eyeing this 2009 BMW 1 series up for sale.
Just wondering, any of you owned a similar make or model what's the cost of ownership like. How much do you reckon I should pay for?
Thanks
My original reaction was to think OP was just having us on, but honestly? There's no better time to kind of splash out on a car like this - OP has discretionary income, probably very little in the way of fixed expenses or other financial commitments, won't need to depend on this car being reliable for anything important, and they're young enough that, even if slightly financially irresponsible, they should be having fun.
And it's not like they're thinking of taking out a loan to buy it. So my initial reaction aside, I think OP should go for it so long as they do their due diligence:
Worst that can happen is that they're out some money and learns a valuable lesson.
Fair enough, but I don't think that most grad jobs are that well paid initially. Depends if it is with Westpac I suppose.
Hahahaha, it's probably not that well-paid, but with OP being a grad, worst that happens is they can't afford to fix the car and it's parked in a garage somewhere. I'm assuming they don't need the car for commuting, and obviously, being a convertible BMW 1-series, they don't need it for any real practical use either.
And it's only $10k which - yeah expensive, but I spent about that much on my first, very impractical, (but Japanese) car too. There's something to be said for enjoying life before being well and truly sucked into the grind that's full time work and adulthood.
@HighAndDry: Haha thanks for that
yeah, I won't be taking a car loan for this car. I am looking to upgrade from my 2001 Holden Astra that is literally falling apart.
This! Get it checked out by a professional, especially for head gasket leaks $$$$$
Not a bad buy for that. At least you're being sensible, buying used and not going lease for $70K or something stupid on a new car.
I'd go a Mazda MX-5 instead.
I love how people start spending before they even start earning… unbelievable
Lets not judge OP - maybe OP had a part time job while he/she went to uni and sick of driving around in a bomb. The car he/she is looking at is only about $10K… unlike the other dude who wanted an $80K car! lol
Yep, work part-time at an engineering firm.
And such a fricken ugly car, too.
Eye of the beholder and all that. Not personally my cup of tea, but then again, there are people out there who don't go for MX-5s or S2Ks either.
The car in your link has 178,000kms on it. The upfront cost to buy it may not be expensive, but the car is 10 years old and because it's got a BMW badge, anything that needs replacing will cost you an arm and a leg.
Are you going to be able to afford the high cost of maintenance on a grad salary?
Hahaha - why would you buy this car - hello expensive maintenance costs! European and 178k on the clock! Saying that, the car is not expensive. Worst case buy it and sell it after a few months when it is up for a $5k service and consider it a lesson learned.
In all honesty if your budget for a car is $10k than you can't afford this car. Be a smart Ozbargainer and buy a car which will last you for years and cost substantially less in maintenance.
The seller can't afford to keep it registered says it all.
So your due diligence aside, which I'll copy and paste from my other comment:
Also just basically expect these things:
A. Spending basically a good chunk of the purchase price (budget something crazy like 30%) on maintenance and service costs after you buy it;
B. Expect mechanical and electrical issues and water leaking issues with the convertible top (and associated issues if it has those issues because water in a car is bad for it);
C. Don't expect it to run trouble-free. It might… but don't expect that from a 10yr old BMW.
It's a 10 year old BMW. You'll look great cruising around in it, but there may well be (not necessarily though, you might get lucky) headaches that others won't see but that you'll have to deal with.
BMW series 1 driver here.
Bought BMW 120i (2005) a year ago and did a bit over 10k. So far only issue that i had are spark plugs and coil (one died so had to replace all 4). Make sure to check car by trusted mechanic prior to buy. Fixing differential or replacing timing chain can be expensive (2000$) so check that car have no issue with that. Stay away form 120d (N47) engines cause they have issue with timing chain. Car is really fun to drive, and solid build. I use to drive newer toyota, mitsubishi and nissan and none of then can come close to 10y/o bmw when it comes to drive and handling. Steering is hydraulic so more muscles needed, but is very precise. Also runflats are not the best for bad roads. As far as i'm concerned logbook doesn't mean anything to me, i'm European and those you can buy for 20$ in Europe.
This is the best advice on the thread.
Real experience. Understands that driving a nice car actually has some benefit over driving some econo box with no soul.
My wife and I have bought heaps of brand new cars over the years.. they have nearly all had issues, some super major. I am looking at you Mazda and VW.
I currently drive a BMW I picked up 2nd hand(albeit still quite new) and literally its the first good car I've owned in years.
Its luck, nothing more. My uncle returned his AMG after a year of ownership and bought a porsche… so many issues with the merc (C63).
My sister had her gearbox replaced and a bunch of other shit with her brand new Polo.
Best of luck, enjoy your new car and congrats on the new job.
Yep, thanks for the solid advice
Thanks for your feedback guys.
I was expecting half of you to tell me to get (profanity) and buy a Camry.
I was expecting half of you to tell me to get (profanity)
I think most people understand the need/want to upgrade at different stages of life - in your case, graduation and getting a first full time job. Nothing wrong with that at all.
The last guy that came here looking for similar advice was in the same position as yourself and was looking for an $80K car as an "investment" because he thought it would improve his image with his new bosses. Either he really thought that or he just wanted to show off about buying an $80K car upon getting his first job (while it is ozbargain, there's lots of money-savvy people here who earn and can afford much more). Whatever it was, everyone just looked at his thread and thought he was a tosser.
Most people here are willing to help when someone comes along seeking genuine advice - except if that person comes across as a total dick.
If you aren't trolling, the 1 series is a terrible car, as you will likely be getting a 4 cylinder, it will have more oil leaking from the engine than is inside it. They are also gutless.
Obviously at least one salty one series owner looking at this thread
Just some general car advice for you, in case you haven't considered it:
- there's probably a dedicated forum(s) for 1 series owners. Read up or ask there on what to look out for when purchasing this vehicle
- these owners can also probably point you in the right direction about a a good, affordable mechanic shop to get your car serviced too.
- Get the car looked at by a trusted mechanic and ask him to help check up on those things
- as it's an older sports car, have a look up front about the cost of insuring the vehicle (might be more than you were expecting). you could consider getting it insured under your parents' name to bring the price down. shop around, obviously.
- for the car this age, there could be non-standard parts on it. it may/may not be significant when you declare such things for insurance purposes
- as it's your first car, do a bit of math and get a rough estimate on how much the car is going to cost to run (petrol, rego, insurance, servicing, parking, tolls, etc).
- look out for any technical service bulletins issued for your car. Different manufacturers have a different name for these. They are essentially out-of-cycle service notices issued from the manufacturer to address any significant manufacturing defects (i.e. related to power steering, brake lines or etc). As another example, the vehicle you listed may be affected by the Takata airbag recall and should be fixed for free (https://www.bmw.com.au/recall?vin=WBAUL520X0VE84748®o=BGS…)
New profile; "…Just landed a graduate job…upgrade my car…BMW 1 Series…".
At the very least wouldn't you be saving a little first?