First Car under 110k - Suggestion Please

bargainsniper69 on 20/02/2019 - 13:52

Before I get hammered by Ozbargainers, let me clarify.

This is not a troll post. My grandparents have passed and I have just received a vast inheritance. They have given me all their possessions (land, houses and a very large sum of money). I have made sure to save pretty much all of it by diversifying into ETFs and have enough for emergencies.

There is enough to cover my uni fees, cost of living and I have no debts to pay off.

My options so far are:

  • 2019 Mercedes A45 AMG (not out yet but might be willing to wait)
  • 2018 Audi RS3 (best value in my opinion. Virtual cockpit and very quick)
  • 2019 BMW M2 competition (Heard that this is the funnest car to drive because of the drift mode and new M toggle switches)

I have an ACT licence so I dont have any restrictions even though im on my P’s.

Any opinions on the options above or have any other suggestions?

Automotive Car

closed Comments

  • 87percent on 20/02/2019 - 14:59

    Can you also afford the insurance, servicing, petrol and other maintenance? Id imagine insurance at your age, on a $100k cast, would not be cheap

  • brokeasianbum on 20/02/2019 - 15:04
    +9

    My grandparents died and all I got was a life sentence :/

    • Oz8argain on 20/02/2019 - 15:35

      hey at least you got something….

    • [Deactivated] on 20/02/2019 - 17:21
      +1

      My kinda of morbid ass joke.

      (Although I loved my grandparents dearly).

  • saliya on 20/02/2019 - 15:08
    +1

    There is a reason that bikes and cars have power-to-weight and other restrictions for inexperienced drivers -
    the faster it accelerates, the quicker you can get into trouble.

    Suggest good used Porsche Boxster 2.7 manual (technically, outside the 130kW/tonne limit but only just, and probably not with driver/fluids)
    and spend the balance on track days / driver training. Drive the tyres off it on the track for a year, then go out and drive whatever.

  • Syd Bargain Girl on 20/02/2019 - 15:19

    Tesla Model S

    • [Deactivated] on 20/02/2019 - 21:33

      $200k

  • Skramit on 20/02/2019 - 15:37
    +2

    $110k vehicle will halve in value in a couple years.

    You can still buy a 60k very nice premium vehicle that will also halve in value, but the hit is less severe.

    If I were you I would go for the step down from all the cars you've listed.

    Audi S3
    BMW M240i

    Avoid the A45…. overpriced IMO.

  • jubs on 20/02/2019 - 15:39

    It'd be a tossup between the RS3 and M2 Competition. Much sexier cars than the A45 as the AMG will be ugly based off what the current A class looks like.

    M2 will be more exciting to drive, but the RS3 engine sounds better and is quicker and tune friendly. I'd recommend the RS3 since it's your first car, get used to driving and then get a RWD car as your second later.

    • bargainsniper69 on 20/02/2019 - 15:41

      Yeah the inline 5 sounds insane. New A classes will have panemericana grille though. Not sure if i should wait for the cla45 in 2020 that looks meannnnnn.

  • DarthAntz on 20/02/2019 - 16:02

    $105k in ETFs or even a low interest account will give you the passive income to finance the running costs of a $5k toyota corolla. Insurance, fuel and everything paid for passively every year.
    Perhaps a bit extra to spend hiring a nice car valued at $110k a few times a year to drive the great ocean road.

    How much time do you spend in a car to warrant getting $110k value out of it?

  • Levathian on 20/02/2019 - 16:06
    +4

    Check OP's history. I don't think this is a legit post.

    There is no way that I can see a 16 year old could be on their Ps in Qld. Also they cannot drive a turbo even if they did somehow have P plates. So why are they buying a car and who is the current legal guardian?

    https://www.tmr.qld.gov.au/Licensing/Learning-to-drive/Young…

    Just sayin.

    • bargainsniper69 on 20/02/2019 - 16:08
      +1

      You did all that research but still couldn't read properly. ACT licence.

      • Levathian on 20/02/2019 - 16:11
        +4

        You replied before I could edit.

        I was going to write: OP is in ACT yet profile says Qld. Ok they have slightly younger age so you COULD be on Ps at 16.. but I still call BS on this post.

        http://www.roadready.act.gov.au/c/roadready?a=sp&pid=1098838…

        I find it convenient you've suddenly changed states for this story tho.

        • bargainsniper69 on 20/02/2019 - 16:14

          Grandparents were in ACT so I got licence there since you only need to be 15 9 months and don't need 100 hours. Also less restrictions.

          • Levathian on 20/02/2019 - 16:15
            +2

            @bargainsniper69: Still don't believe it but OK.

            • bargainsniper69 on 20/02/2019 - 16:16
              +1

              @Levathian: Look at nice cars on carsales and scroll down to the bottom where it shows which states approve. ACT almost every single car.

  • 2jzzzz on 20/02/2019 - 16:07

    Go travel before buying a car. Then when you get back, supercharge a 2012 C63 AMG and be happy forever.

  • TheMindsetTraveller on 20/02/2019 - 16:14
    +1

    This would be my choices:-

    The best bang for your buck sports car …. BMW M2 Competition (and the coupe shape for some reason is beautiful)

    For cruising around with the roof down …. Audi S5 Cabriolet (probably a demo model at the $110k price)

    For luxury …. try and find a 1-2 year old Mercedes E350

    Or if you just want a Porsche because it is a Porsche, then go for a Cayman S … it will be a 1-2 year old model though.

    Now don't ask me what kind of SUV I want because it would be an Audi SQ5 … or an used Porsche Macan.

    • bargainsniper69 on 20/02/2019 - 16:18

      Thank you for actually replying to the post. I love the look of the 718 Cayman and the prestige of the brand.

      But you'll you rather an M3 or M2 comp. That is the real question.

      • TheMindsetTraveller on 20/02/2019 - 21:16

        Well the new M2 Competition has the M3 engine (ableit slightly detuned) so the M2 might be the way to if you don't really a bit more room but I'd still go for a Porsche ;)

        Our speed limits are so pathetic that having any decent sports car is a waste.

        There are awesome windy roads that I used to 'race' through 20 years ago but now are slowed down to a crawl OR if if I did any decent speed that these cars are easily, very easily capable of, I would probably end up in jail.

        Porsche's are so damn sexy, but that's just me.

  • pegaxs on 20/02/2019 - 16:22
    +4

    “This is not a troll post”… lol. Ok.

    Grandparents died, how can I blow their whole stack as quickly as possible? I bet they would be so proud of you feeding their life’s savings into a money shredding machine that expensive cars are.

    A non-troll version of this would be “grandparents died and left me a lot of money, how can I best utilise it to set myself up for a better life…” and you would have posted it in finance.

    No one has suggested the AMG A200?

    DisabledUser12345 in 3… 2… 1…

    • bargainsniper69 on 20/02/2019 - 16:32
      -1

      Did you actually read the part where I saved pretty much all of it… Or did you just jump to conclusions like everyone else on this thread.

      • pegaxs on 20/02/2019 - 16:45
        +5

        Your story is full of holes. I’ve read the whole post. 100% you are trolling. It’s ok, you’ll get your own meme. All the trolls here do.

  • wannagrababargain on 20/02/2019 - 16:29
    +1

    Sounds like you have a large sum to spend but perhaps not much income, have you considered the following:

    Do you have enough income to support an average running cost of $1500-$2000 per month to keep this thing on the road?

    On top of those running costs are you aware of the concept of depreciation? You will be losing equivalent to $1800 per month in depreciation, without even driving it.

    If someone told you you can rent an M2 for 3 years for $3300 per month, what would you say to that? If you can truthfully answer that you would be fine with that, then yes you can afford to buy an M2.

    • bargainsniper69 on 20/02/2019 - 16:31
      -1

      Do you reckon renting out all the houses would be enough. Its not like I have kids to feed or anything.

      Also the main thing is I have no mortgage. All the houses I have received are paid off.

      • rave75 on 20/02/2019 - 17:05

        how many houses you got? you should be able to calculate the total rental income you receive. Also, try to list your Expected Income vs Expected Expenses, make sure it is not negative. You need to build wealth. With all those inheritances, I assume you speak to a good financial planner?

  • sheepzpal on 20/02/2019 - 16:32
    +2

    So many posts about buying a new car nowdays… wtf is going on… more interested about the prices of property falling in 2019

  • Shiny Mew on 20/02/2019 - 16:34
    +3

    Donate it to charity so that it benefits people more deserving.

    • bargainsniper69 on 20/02/2019 - 16:36
      +1

      Once I die from a high speed crash I will. Also some of it will be going to @sparkles

    • lltravel on 20/02/2019 - 16:57
      +1

      what a joker, charities are the biggest scam in this world.

  • rave75 on 20/02/2019 - 16:37

    does it have to be a new car?

    • bargainsniper69 on 20/02/2019 - 16:40

      No not necessarily. If it were older I could maybe get a more expensive car.

      • rave75 on 20/02/2019 - 17:00

        I'd personally buy 1-2 y.o car, best value for depreciation, better if you are planning to change car often too. I like the current MBUX system but hates current A/CLA class. As your first car, the older generation A45 is much cheaper and should fulfill your need of speed I reckon. So you won't be too much invested on your first car and can easily change car later on.

        Btw I like merc more than bmw for interior. My personal choices:

        2017+ E400 coupe
        2017+ C63 sedan/coupe
        2017+ Alfa Giulia Quadrifoglio

        All are within your price range. I assume you aware the insurance costs (which shouldn't be an issue for you anyway) and can drive those car responsibly.

  • lltravel on 20/02/2019 - 16:50
    +1

    Get the m2

    I own the 1M and have driven both.

    The m2 is more refined but not as pure. Out of all those cars the m2 is the best pick.

    Why not get a used m4? You can pick them up for 80k these days. Best of both worlds. Another great car tbh.
    ps. never buy a brand new euro car. They drop in value super hard.

    • bargainsniper69 on 20/02/2019 - 16:51

      What do you mean pure? Always heard people describe cars with it. Also do you drive manual?

      • lltravel on 20/02/2019 - 16:55
        +1

        yes the 1m only comes in manual

        The pure means not for the faint-hearted meaning you should know how to control a car and bring it back after a forced slide (drifting). The 1m is alot more raw meaning no electric feel to the steering.

        I can tell you right now if you're planning to drift in these cars without any experience you will crash.

        The m2 has better in car tech and comes in in auto.

        If you're looking for luxury / power get the auto
        If you're looking to go to the track get the manual. If you get stuck in traffic alot the manual will suck. Just each to their own.

        BTW the M cars all have the M mode with the m2/m3/m4/m5/m6 all having the option to adjust it to your style of driving.

        • bargainsniper69 on 20/02/2019 - 22:48

          The comp has it on the steering wheel like the 5 series :)

  • raytriplej on 20/02/2019 - 16:57
    +1

    Landcruiser dual cab.

  • lltravel on 20/02/2019 - 17:02
    -5

    also sounds like a lot of people in here are extremely salty
    - op has the money to spend and a lot of it
    - it's his money he can throw it and burn it if he wants to
    - why are you mad that the op gets to enjoy his inheritance?
    - he already has a house
    - he has no obligation to give it to charity
    - he has no obligation to help anyone

    Grow up

    He's not irresponsible, he just wants to spend his money on something nice

    There is a huge difference between a teenager buying an expensive car with loans vs with cash

    • ego22 on 20/02/2019 - 18:00
      +5

      its completely fake lltravel.

      grow up

      welcome to the internet, your gona be in for quite a ride..

      • [Deactivated] on 20/02/2019 - 21:34
        +2

        …Where people don't know how to spell basic words.

  • Pantagonist on 20/02/2019 - 17:05
    +12

    How is this thread still getting serious replies?

    For those who missed it, OP is apparently 16 years old but claims to be the executor of the will, which is not allowed under any state law in Australia.

    OP also apparently lives in the ACT. If that were true, OP would be aware that he'd need to spend a fair amount more than $110K on a car so that he wasn't confused with an international student from ANU.

    • Levathian on 20/02/2019 - 17:50

      Can you legally own property at 16?

      • Pantagonist on 20/02/2019 - 18:01

        I'm reasonably sure you can have property registered in your name at any age.

        It generally doesn't happen because of the tax implications of any money the property makes and as a result it's better to buy property for minors through a trust set up for them.

      • DogGunn on 20/02/2019 - 22:16

        Yes, but entering into a contract to purchase property, much harder under 18.

  • meowsers on 20/02/2019 - 17:11

    Get the M2 Competition. No question. Having driven all 3 I can tell you the Audi is like driving a car simulator.

  • TimApple on 20/02/2019 - 17:12
    +3

    Why are people so obsessed with expensive cars? The cheap one takes me to Coles and Woolies the same time and just as comfy.

    • meowsers on 20/02/2019 - 17:44

      Different strokes for different folks. People value different things. Why are some people obsessed with saving every last shekel and with having as much money as possible when they get old, at the expense of enjoying it in their youth?

  • urahara on 20/02/2019 - 17:32
    +1

    TESLA MODEL S/X
    Model 3 if you can wait for another year

    • [Deactivated] on 20/02/2019 - 21:35

      Not even close to the price range.

  • uzz30 on 20/02/2019 - 17:41

    For the hypothetical 16 year old coming into a big inheritance.

    Go see a financial adviser about putting your inheritance into a trust, talk to them about minimizing taxation on it and assuring your future.

    Take a small(ish) amount and get yourself a reasonably nice car that will still be cool among your friends and is P plate approved in your state, a Nissan 350Z probably does that job very nicely.

    Have a long think about your life goals. Owning an expensive car might be one of them, most owners of expensive cars don't own them outright, their company owns them, they drive them and write down the invariably huge depreciation costs against the profits of their company reducing the taxation that they pay. A financial adviser can help you there too.

    Can you picture yourself as a company director? You'll need to be a minimum of 18 years old, so spend the next couple of years completing your education with a goal to finding a business you'd be happy to be the director of. Teach yourself what it takes to find a and run a successful business of your own. Get good help.

    Don't just own the car, own the successful lifestyle that goes with it and make your grandparents proud.

    How do you make a small fortune owning expensive cars? Start with a large fortune. :)

  • Illian on 20/02/2019 - 17:44
    +1

    Don't get a BMW. You'll start driving like a douchebag and forget how to use your indicators, it would be such a waste. Also, I saw you mention Porsche, even though the previous cars you mentioned were 4 doors. If you're looking at 4 doors the new A class is definitely a good choice when it comes out and not too expensive considering all the tech it comes with, if you're looking for 2 doors then you have a tonne of choices on the used market, Porsche Cayman, Jaguar F-Type, Nissan GT-R, Lexus RC-F etc, it's really just down to what you like the most. Also, the Porsche Panamera is really cool, and also 4 doors.

  • rompastompa on 20/02/2019 - 17:58
    +6

    Sorry to hear about your grandparent(s) passing within the last 9 days.

    Just FYI; Death certificates take ~15 days in ACT, and you need that prior to your probate (takes another couple of weeks).

    Stressful time, I suggest you get through this before spending your inheritance on EFT's and fast cars.

    • dcep on 20/02/2019 - 18:14
      +1

      Grandparents dead.
      Post Ozb for what 110k car to buy.

      Good for de-stressing.

  • modgod on 20/02/2019 - 18:49

    For 110k I would get a 2014/6 C63s AMG sedan
    This would be my next upgrade to my CLA45

    Or R34 GTR and a Golf GTi as a daily

  • [Deactivated] on 20/02/2019 - 19:11
    +3

    I dont have any restrictions even though im on my P’s.

    No restrictions YET

    I'm not sure if points are more limited on P's (they are in NSW, plus extra penalties apply, for same offense,on P's , ie. Speeding gets 3 points instead 1, for P platers).
    You will likely not have your license long, especially if you're getting a car because it has 'drift mode'

    Young people actually have limited risk assessment (neurologically). That's why one tends to think one is invisible in teens, early twenties. You could be the exception, but majority of people under 25 getting a vehicle for 'drift mode' would do risky things with the vehicle and most likely lose license (or worse).

    Are you really going to go buy a car because of drift mode , then drive it sensibly ….

  • drprox on 20/02/2019 - 19:26
    +3

    So sick of these "not troll" posts

    • pegaxs on 20/02/2019 - 23:07

      Its validity is right up there with the same types of people who start a conversation with “trust me” or “I’m not an …., but!…”

  • stumo on 20/02/2019 - 19:45

    I wouldn't buy any of those toy cars.

    I would pay around 50k for a used decent big safe luxury car for daily use. And also buy a dedicated sports/race car for trackday use. You can get a hail damaged stat writeoff sports car for a fraction of what they are otherwise worth. Then rip out everything and install all the proper safety equipment and decent track tyres. Tow it to your events in a nice toy hauler.

    With your free income and spare time, you will be able to afford many track days and will be able to upgrade your track car more as you become a better driver. If you are any good at it you might consider entering actual motorsport events.

    Your big safe luxury road car will ensure you will live long enough to fully enjoy this free win card life has dealt you.

  • Nads2407 on 20/02/2019 - 19:45

    Go for the BMW you should be able to drift to school and back

  • Dreamcast on 20/02/2019 - 20:09
    +1

    Get a Harley. That's the vehicle done. Then invest in a leather jacket with a bikie gang name of choice (OzBandits?) and charge OzB members for certain jobs.

    That way you kill two camels with one bird. Vehicle and investment.

  • taoz on 20/02/2019 - 20:10

    first car, go cheap
    go on some holidays instead. save the money for a car later on, when you have more driving experience and hopefully are less likely to dint, crash the car.

  • ihbh on 20/02/2019 - 20:13

    Are you going to post another topic on recommendations for hookers? ;)

    Just kidding; you write very well for a 16 year old. Keep a level head and don't be showy about your newfound wealth, otherwise you'll attract the wrong crowd - hangers on or even worse.

  • bobababa on 20/02/2019 - 21:06

    you know what's better than buying a damn car with your vast inheritance? treating your cute, loving girlfriend to something nice

    a cars value will depreciate, but your girl will always appreciate

  • ChillBro on 20/02/2019 - 21:09

    Q: What car should I get?

    A: None! Here's a list of completely different things to get instead!

  • ego22 on 20/02/2019 - 21:53
    +1

    clearly total troll BS OP.
    i have a sneaky feeling were all witnessing the birth of the newest Ozbargain inside joke.

  • lainey13 on 20/02/2019 - 22:05

    A Toyota Camry and some humble pie.

  • [Deactivated] on 20/02/2019 - 22:06

    9 reports (so far) lol

  • Rohangiga on 20/02/2019 - 22:08

    What is with people on Ozbargain and wanting such expensive cars lol

  • DogGunn on 20/02/2019 - 22:14

    Your grandparents gave you 50k last week for graduating year 12, then they've both recently passed?

    Uh, okay.

    • bargainsniper69 on 20/02/2019 - 22:20

      Whats up with people who can't read jeez

      • DogGunn on 20/02/2019 - 22:21

        What am I meant to be reading that says otherwise?

        • bargainsniper69 on 20/02/2019 - 22:22

          Previous comments someone asked that exact same question. The guy below too.

          • DogGunn on 20/02/2019 - 22:26

            @bargainsniper69: The one where you said you were 16 and the executor? lel

            • bargainsniper69 on 20/02/2019 - 22:27

              @DogGunn: Yeah then what's the point of asking the same question twice.

              • DogGunn on 20/02/2019 - 22:35

                @bargainsniper69: Well, at 16, you cannot be the executor of a will. Administration of the will would go to a guardian or court appointed person. But not probate which means no lump funds.

                They're not going to grant probate until you've reached 18.

  • dailynotsomail on 20/02/2019 - 22:18

    did they die at the sometime?

  • Lawagetas on 20/02/2019 - 22:24

    Reiterating what some of the others have already said:
    It is a very good idea to go with a 2nd hand car for your first car.

    There is a lot to learn in driving a car, but more importantly, it takes a while for you to know what you like about cars.

    An older premium model car gives you an idea of what to expect, how it plays out in the real world and the durability of things - without the harsh price tag.

    If you don't like it, you can resell it without getting bludgeoned by the new car depreciation.

    After driving a few different cars as a daily drive, you can realise what features are gimmicks, and what features are essential.

    If you threw any of these options at 16 year old me; I would have fixated on what I thought was "cool" and probably tricked myself into thinking it was cool in order to justify the inordinate amount of money I have spent on it.

    Personally, I would start cheap and simple and work your way up. It helps you appreciate what you are actually paying for as well. This is the best medicine for FOMO.

    Also don't be afraid to hire cars from Hertz/Thrifty etc for a week to get a better idea. You will get flogged hard on <25yo fees, but better than dropping 100k on a car that you realise is a bitch to drive down your driveway in due to the engorged A pillar.

  • Traveller107 on 20/02/2019 - 22:39

    Get a cheaper new car and ensure it has the highest safety rating.
    I'd recommend holding on to the inheritance with some respect and spend it wisely in the future as someone (your grandparents) worked hard for it. You didn't have to work for the money but I'm assuming it's the result of your grandparents years of blood and sweat, don't blow it like free money. Cheers!

  • engen Arsch on 20/02/2019 - 22:54

    I'm sure you have thought about how you will feel driving such an expensive car, a status symbol, but what about considering what it might attract in to your life, jealousy? fake people that admire expensive objects? a money hungry partner? My advise would be to spend less on a car and more on life enhancing experiences, travelling overseas, alcohol, prostitutes. Jokes aside, learn who you are and what your values are, there's always the opportunity to buy expensive cars….

  • Euphemistic on 20/02/2019 - 23:04
    +1

    You want advice on those options? You’ve come to the wrong place.

    • bargainsniper69 on 20/02/2019 - 23:05

      Hahahahaha I realised. Have my upvote.

  • Moderatorneil on 20/02/2019 - 23:08

    OP has his answer, comments closed, thread filed in Dumpster Fires of 2019.

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