Buying a Used BMW 335i and NOT getting a First Loan

JustASmoothSkin on 13/07/2019 - 03:07
Last edited 16/07/2019 - 16:32 by 1 other user

My current car (Honda Civic EK 2000) has served me diligently these past few years but it is our time to part ways, and what better time with tax time being here.

EDIT: Cleaned this up so people don't need to read all the posts to work out whats going on, Check revisions for the older version if you want.

Hi, So currently interested in buying a car. I have around $15000. My current goal is something that is similar to a BMW 335i. (I am NOT interested in buying this car because of the badge I just genuinely like the look and feel of this car.) I am mechanically minded and plan on doing performance mods at some point so reliability is not really important to me.

So make some recommendations for:
*Sedans or Coupes
*Comfortable for 6'5" guy
*Fast
*Interior need to look nice
*Easily modifiable
*Also not econoboxes or commodores

Some cars to give you an idea of what I am looking for:
* BMW 335i (E90 or E92)
* Ford G6E
* Toyota Crown
* Toyota Mark X
* Nissan Maxima

UPDATE:
Started the process to get a Nissan Fuga from Japan, Also Bought a Kawasaki Ninja and got a motorcycle license.

Automotive BMW

Comments

  • bdl on 13/07/2019 - 09:45
    +9

    Consider a second loan just for maintenance

    • digitalbargain on 13/07/2019 - 18:38

      OP can repay $400pm

      Should be able to service a $20k loan…

      $10k to service the bimmer.. might be enough

  • pegaxs on 13/07/2019 - 09:55
    +1

    The fist $10k is to buy the car. The second $10k is for maintenance…

    Do not sink money into a used 10yo BMW. And this goes double for sinking loan money into the car.

    • JustASmoothSkin on 13/07/2019 - 12:03

      Yeah might skip the loan, sucks that it seems impossible to get anything good though.

  • brendanm on 13/07/2019 - 09:59

    335 is a great car but I hope you realise the maintenance costs going to be far higher than a civic? Pretty big jump by the way. Also you say you want a large car, a 3 series is not large. Large but not a boat would be 5 series.

    • JustASmoothSkin on 13/07/2019 - 10:19

      I don’t see many 5 series picked up in the car scene, so haven’t even had a look to tell you the truth. Any that produce good power and have good aftermarket support?

      • brendanm on 13/07/2019 - 10:34

        Car scene? All BMW's have good aftermarket support. You can get a 535i, same turbo engine as 335. Can get them with a V8, or naturally aspirated 6. Or a V10 m5. Look on carsales.

        • JustASmoothSkin on 13/07/2019 - 11:50

          Seems like the eastern states uses car sales a bit more the the west, All the good cars are on the other side. And that’s a long walk haha. (Also don’t want to hit a roo, I am pretty notorious for it. Civic has hit 2 since I got it.thank got each time I was apple to fix the damages for roughly $700)

          • brendanm on 13/07/2019 - 12:16

            @JustASmoothSkin: I mean to get an idea of the different models available. Simply select BMW and 5 series

  • JIMB0 on 13/07/2019 - 10:15
    +4

    Lexus IS350. Similar car but much more reliable.

    • JustASmoothSkin on 13/07/2019 - 10:21
      +5

      Also twice the price, only have 3 in WA and all are more then $30000.

    • JustASmoothSkin on 13/07/2019 - 10:24

      Though don’t get me wrong nice choice in car, wish the Toyota Crown wasn’t a Japan exclusive. Even that would be nice.

      • JIMB0 on 13/07/2019 - 10:29
        +2

        Plenty of IS350 on carsales under $20k around 2010 model. The Crown is larger (almost Camry size) but can be imported, there are usually a few on carsales.

        • JustASmoothSkin on 13/07/2019 - 10:33

          I will jump on and have a look, cheers. :)

  • meiztom on 13/07/2019 - 10:25

    My friend poured $1000's into maintaining his 2009 N54 335i. It was never ending. Get the 2011-12 onwards N55 version. Much more reliable.

    • JustASmoothSkin on 13/07/2019 - 10:28

      Damn, My condolences to your friend. Wish I could afford the N55, Got any other cars in that price area with the same luxury and power feel that you recommend?

  • Stalker on 13/07/2019 - 10:34

    Just some food for thought… :)

    https://www.carsales.com.au/cars/volkswagen/golf/r-badge/vi-…

    • JustASmoothSkin on 13/07/2019 - 10:44

      Yeah, Looked at golfs but want something bigger. Great recommendation though.

  • nephilim on 13/07/2019 - 10:35
    +1

    maybe haggle a alfa giulia veloce 2.0t down to 50k? if really want a cool salon car

    You will look like a doctor, since I only seem to see them in doctor carparks

    • JustASmoothSkin on 13/07/2019 - 10:47
      +1

      Haha, I like this one. Guess I need a career change. (Am actually aiming to become someone in the medical field, thinking neurologist or anaesthetist)

      • Kapinny on 14/07/2019 - 10:58

        Do it

      • Commander Shepard on 17/07/2019 - 20:48

        I am selling my Alfa Romeo Guilietta QV this weekend to a guy for 10k. Great car and the 1.75 engine with the manual transmission is very reliable. It's like a golf GTI for 15k less and looks just as nice.

    • HighAndDry on 16/07/2019 - 12:09

      Other than the fact it's Italian (and now owned by Fiat Chrysler - arguably an even worse fate) and so will start dying on your sporadically, the Giulia is an absolute stunner. I loved the looks of the 159 as a kid - that thing had the most aggressive front end.

      • Commander Shepard on 17/07/2019 - 20:50

        I have had two 159s. Great value and very reliable if you find one in the correct spec.

  • Marcsie on 13/07/2019 - 11:29
    +2

    Buy smart, only buy Japanese or Korean cars
    Buy smart, never borrow money to buy a new or second hand cars
    Full stop 😀

    • JustASmoothSkin on 13/07/2019 - 11:47

      Well, If you looking for getting the most bang for buck kdm or jdm is generally the way to go. But I am looking for something special and don’t mind spending a bit more to get the luxuries to go with my proformance.

      • Marcsie on 13/07/2019 - 11:57

        A bit more ? I think it will be heaps more, if you have plenty of money, fine, good luck and all the best 😊

        • JustASmoothSkin on 13/07/2019 - 12:25

          Just letting you know I didn’t down vote you, I love JDM as well but sadly nothing that I have seen ticks all the boxes I want.

  • MELso on 13/07/2019 - 11:31

    Oh dear!

    The old adage with Euro prestige cars is 'if you can't afford to buy new, you certainly can't afford to buy second hand'…

    Unless you're handy with DIY mechanics, the $19K is highly likely to be just a downpayment. There's a high risk of something going bang expensively, but you'll already be up to your eyeballs in debt and won't be able to fix it.

    You say you want something 'nice'. For what? To show off? Because you have a 100km commute? Because you want safety? Because you want a 'driver's car'?

    What are you trying to get out of this purchase?

    • JustASmoothSkin on 13/07/2019 - 11:36

      Something that looks appealing to me, that makes me go “Damn this is a fun, good looking and comfortable ride.” Something I can be proud of so I don’t feel envious when a steagea drives past or I get rolled up on in my civic by a ford transit fan.

      • abuch47 on 14/07/2019 - 12:33

        Stop trying to race people.

        • JustASmoothSkin on 14/07/2019 - 15:51

          Not racing, It's more like. Can my civic beat this ~Insert van or small econobox here~ from 0-50KM/H. Thing is, I pretty much always lose if the other person realizes. it's harmless fun, Not like I am trying to beat someone to 100KM/H in a 60KM Zone or anything. And many cars that have power don't even have to try, Just their ordinary acceleration beats me nine times out of ten.

          • lostn on 15/07/2019 - 23:37

            @JustASmoothSkin: Save up for a few years and get a Tesla. You will beat them all.

            As a doctor it shouldn't take too many years. For now buy an el cheapo car that won't require a lot of maintenance and when you can afford it, get your Tesla. If you like racing people at the lights, you will have a lot of fun in one of these. A performance model will let you do 0-100 in under 3 seconds.

            At the same time, you are being green. So no one is going to diss you for trying to impress people with a luxury german car that you can only afford used. If anyone thinks you're showing off, you only have to tell them you bought it because it's better for the environment and you don't like paying for petrol. You still get the luxuries of the german car, but never have to get grease on your fingers.

            EVs will be the future whether people want them to be or not. It's just a matter of when not if.

  • Reppunkamui on 13/07/2019 - 11:33
    +1

    Just out of curiosity… Since you mention engine, aftermarket support, on a budget. Have you had a look at the 135i? It isn't much smaller than the 335i, cheaper, same engine and more fun to drive.

    • JustASmoothSkin on 13/07/2019 - 11:39

      I did, but the 335i seems like a bit of a goldilocks moment. 135i is kinda dorky and the 535i is to straightlaced. 335i just right with both the sporty look and luxury look.

  • Architectonic on 13/07/2019 - 11:55
    +6

    Only get finance for appreciating assets, not depreciating assets…

    • Marcsie on 13/07/2019 - 12:01

      I totally agree 😀
      I only borrowed money to buy my investment properties !

  • spackbace on 13/07/2019 - 12:05
    +4

    At your height, and cheap power, it's hard not to recommend a Commodore/Calais, or Falcon Turbo/V8. Have the room, easy to get more power out of any of those engines.

    Sure, not like the BMW but then not a whole lot is for $10,000.

    You'll need to work on the champagne taste/beer budget. Now you've been looking at the joys of a $20k car, a $10k one is going to disappoint.

    • JustASmoothSkin on 13/07/2019 - 12:20

      I have driven both, (Also have 2 VE’s in the family) and just hate the fact that I can park side tippers trucks easier then commies and falcons. (Though I am partial to ford g6e turbo’s in white sadly though they need to be lowered a lot to really get me biting my lip which is coincidentally what I would be doing trying to go up my drive way in one)

      • spackbace on 13/07/2019 - 12:52
        +14

        If you can't park a commodore or falcon, it's not the car's fault…

        • JustASmoothSkin on 14/07/2019 - 00:38

          Sweet nice to know that a turning circle in a 12 tonne merc side tipper being better then a commodore is my fault

          • brendanm on 14/07/2019 - 09:53
            +3

            @JustASmoothSkin: E90 turning circle - 11m
            Ve common turning circle - 11.2m

            Lol.

          • spackbace on 14/07/2019 - 12:07

            @JustASmoothSkin: I've owned a FWD magna for 6yrs or so, and I've driven all sorts of cars, commodores included, over the last 9yrs.
            As I said, it's not the cars issue

        • JustASmoothSkin on 14/07/2019 - 15:54

          Each to their own, Driven many cars and find commodores are too big and have a poor turning circle. I have seen plenty of Holden drivers in specific skip a parking space because it's to tight when a ordinary ford territory would make it no problem.

          • spackbace on 14/07/2019 - 17:32

            @JustASmoothSkin: Landcruiser Ute 70-series turning circle - 14.4m

            You learn to reverse park

            • JustASmoothSkin on 14/07/2019 - 18:02

              @spackbace: Actually jumped into mums commodore before, Seems its less the turning circle and more that I can't see the bumper, and due to not driving them often my "feel" for the cars size makes me nervous when parking it (hard for me to feel where the bumper is) Regardless. While commodores are nice the visibility and size makes them something I am not fond of.

              • lostn on 15/07/2019 - 23:44

                @JustASmoothSkin: Get a car with a reverse camera, and just reverse your way in. I find it easier than going front in, because like you, I don't like not being able to see the front bumper. But I have a good enough feel for the car that I can do it. Still, it's easier to reverse because you can see the lines and position yourself exactly in the center of the park.

          • brendanm on 15/07/2019 - 06:48

            @JustASmoothSkin: Territory turning circle - 11.4m

            You can't see the bumpers on any modern car.

  • JustASmoothSkin on 13/07/2019 - 12:16
    +2

    Why do I even bother asking for advice on OzBargain? Apart from a few people that actually tried to offer suggestions, everyone else just repeats the same thing over and over again. I won’t be doing the loan, but until a better alternative comes up for the car.(and “BuT EuRO BAd, JDM GoOD. BUY TwENTy YEar OlD JDM” not really being a acceptable response because it’s not what I want, don’t mind JDM but want something that feels fresh and sadly even a 370gt has a outdated interior)

    But what I have basically learnt from this entire board is. Only ever buy JDM or KDM, Don’t ever buy euro, Don’t buy anything nice unless it’s a hot hatch, Luxury isn’t worth the maintenance, Don’t spend any money, forget that maintenance exists until the car tells you otherwise, diy is now not possible for the average mortal and the only godly being capable of working on it will cost 4.3 gajillion dollars. Also if something breaks I will need to personally drag it to Hades domain through the river styx. That apparently the only car that can actually tick the majority of the boxes for what I want , is readily available and that isnt’ a cursed BMW with high KM (because 120000km is high apparently) is a Suburu Liberty which to its defence, pretty good bang for your buck but I have never caught myself going “Damn I wish I had that.” (Though I am considering having a look at one)

    Did I get everything?

    • brendanm on 13/07/2019 - 12:25
      +2

      E90 interior isn't outdated? Can you diy cooling system, fix vanos issues,suspension bushes etc?

      Also JDM means Japanese domestic market, eg a car that was sold in Japan, a 370z is Australian domestic market. Same as you can't say kdm for a Korean car that was sold in Australia without looking like a tool that goes on the mighty car mods forum.

      Just to add, I'm not a euro hater at all, currently have one and have had plenty in the past.

      • JustASmoothSkin on 13/07/2019 - 12:45

        E92 Interior looks pretty good for a 10 year old car, diy cooling system? Like a recharge? I could diy but usually pretty cheap to stop by auto masters. If you mean radiators and hoses ect, yeah pretty easy. Radiator, hoses, water pumps and thermostats are all pretty regular components that aren’t generally to hard to source and most can be gotten cheap or even better like a thicker radiator. What goes wrong with vanos? I would expect being a BMW the engine will need to be rebuilt round 200000km or atleast a few gaskets but honestly that shouldn’t cost more then a couple grand diy. The only fault I can find that annoys me is the poor quality on some parts, HPFP, injectors, The turbos, Chargepipe and wastegate being the main ones but even all that isn’t too hard or expensive to replace with something nicer and of higher quality and none of that (Well except the turbos going which would suck because then yeah more effective to get all the above stuff done for that sweet power and reliability increase but even then thats like what $6K with the tune? I spent 5k getting a mechanic to put a 3ltr omega engine in moms car, which failed within the week and had to wait another week for another one. And that’s a commodore. The BMW maintenance (being me doing it mostly will be cheaper then the cheapest commodores.) Just did her brakes, can’t do them myself or I void the engine warranty it cost $900. If I did them myself, $219.

        • brendanm on 13/07/2019 - 20:36

          Do a google for some maintenance issues and costs for 10 year old high performance euro cars. It sure shouldn't need an engine rebuild at 200k, but if it does it will be a shit load more than a couple of grand.

          If you couldn't put a motor in your mum's commodore yourself, you sure as hell won't be doing anything complex on a turbo BMW. Commodore motor swap is probably quicker to do than replacing the rocker cover gasket on a 6 cylinder 3 series (joking but not by much).

          If you want to know about some of the jobs, look on Pelican parts, they have write ups for lots of common jobs on euro cars.

          • JustASmoothSkin on 14/07/2019 - 00:42

            @brendanm: I could have easily put a engine into the commdore, that’s a day job at worst. Mum thought the warranty would cover it considering she bought it like a 2 months prior. And once we got it to Holden and they denied the warranty they threatened to push it out onto the road if we didn’t pick it up or pay them to replace the engine.

            I was due back at work so just told them to sort it out. Was a bad choice in hind sight.

            • brendanm on 14/07/2019 - 07:23
              +4

              @JustASmoothSkin: Ok, not sure why you are asking here if you are capable and knowledgeable.

      • JustASmoothSkin on 13/07/2019 - 12:57

        Also come on man, You know what I mean by JDM. it’s a pain in the rear to type “Japanese Developed,” when I want to talk about the glorious tofu delivery cars from the land of the rising sun.

        • blitz on 13/07/2019 - 13:18
          +4

          it’s a pain in the rear to type “Japanese Developed,”

          JDM = "Japanese Domestic Market"

          • JustASmoothSkin on 14/07/2019 - 00:44

            @blitz: Did you read the above posts? Apparently it’s only JDM if it was sold in Japan for the people living in Japan.

            • x d on 14/07/2019 - 14:28

              @JustASmoothSkin: You might have to start a survey for what people believe what JDM stands for.

              For me JDM is Japanese Domestic Market - cars developed and sold in Japan but in no other outside market, but can get them as grey imports.

              • JustASmoothSkin on 14/07/2019 - 16:32

                @x d: I am currently confused. My original interpretation of JDM was a car made by a Japanese company, IE:Toyata,Nissan,Mazda So is a car JDM if it was developed and built in Japan and then sold in Australia IE the Nissan 240SZ or Mazda RX7? Or does it have to be Japan exclusive then imported to the Grey market like a Toyota Mark X and Nissan Fuga?

                • x d on 14/07/2019 - 16:41

                  @JustASmoothSkin: My understanding is that JDM when used mean cars that are only sold domestically in Japan but can be obtained via the grey market usually as a second hand vehicle. Some can be limited edition variants of cars that are available in Australia in different specifications - eg Subaru Impreza STI spec C is a JDM car.

                  The confusing thing is that there are some models eg Lancer EVO 400 that are available the UK that can probably be imported. Not sure where these vehicles fall into by definition.

                  • JustASmoothSkin on 14/07/2019 - 17:02

                    @x d: So is a Australian Sold Nissan 200SX Spec-S or Spec-R JDM? How do I address the genre of cars that are developed and built by Japanese brand automakers but sold for other domestic markets?

                    And I will throw a curve ball in as a joke but if you can answer it it would be cool. What of the Japanese branded, Japanese car inspired, Japanese-BMW designed, BMW manufactured A90 Supra?

                    • Pantagonist on 14/07/2019 - 20:45
                      +1

                      @JustASmoothSkin: Read this and then let us know if you still have any questions.

                      Here's a selected quote to get you started.

                      There is a common misconception that a "JDM car" refers to any car of Japanese origin. However an American market car such as 240SX is not a Japanese domestic market car as it was sold in the American domestic market. However the 240SX's Japanese market counterpart, the Nissan 180SX is a true JDM car as it was officially sold to the Japanese market via Nissan.

                      Given this, do you think that a Toyota sold in Australia for the Australian market would be considered JDM? Similarly, if a car is sold by a Japanese manufacturer in a non-Australian market other than Japan, is that car JDM?

                      Hint: The answer to these two questions is the same.

    • whooah1979 on 13/07/2019 - 12:36

      You're on the wrong forum.

      Try OCAU or WP.

      • brendanm on 13/07/2019 - 21:05
        +6

        WP
        For car advice
        Hahahahhahahahahahahahaha

        • pegaxs on 13/07/2019 - 23:01
          +4

          WP for car advice is like flipping through pages of train wrecks.

          They really need to stick to talking about VOIP plans and what router is best…

          • brendanm on 15/07/2019 - 13:45
            +1

            @pegaxs: Car questions on whirlpool:

            Op - "why does my 2012 corolla shudder sometimes?"

            WP - "I had a Chrysler Galant do this once, it was the points were worn, try replacing them".

      • cheng2008 on 15/07/2019 - 18:40

        Mate you're always on WP, you know better than anyone that place is a trolling cesspit.

    • juzza87 on 13/07/2019 - 15:28
      +11

      You can't be upset when you're asking for advice on OzBARGAIN and people are telling you what you want to do doesn't make good financial sense. They're telling you to avoid a used BMW/Mercedes because a lot of them came from leases where the owners didn't give a crap about maintenance because when the lease was up they're getting a new one, the servicing/parts/everything in general will cost you more and 10k will snowball into more money in the long term.

      If you want people to tell you to rush out and buy it try asking on a BMW subreddit.

    • Mallard on 13/07/2019 - 18:45
      +2

      Sorry mate. As i read through this thread I thought how frustrating it must be for you.

      Get the car you want, including a loan, if you are financially comfortable doing it.

      You have heard the worst possible case. It's almost certain to not be that bad. I had a 91 Toyota Soarer in 2004 that everyone said would be a money pit because there were no parts etc. I loved that car more than any other and kept it for 10 years.

      EDIT. I saw people suggesting a Soarer, but that's too old and rubbish now. I wasn't suggesting it, just giving a comparison.

      • JustASmoothSkin on 14/07/2019 - 16:00
        +1

        Yeah, It's fine. I have got a few cars to look at cause of this and am going to skip the loan. Just wish people on OzBargain weren't so hostile.

    • puzzles2 on 13/07/2019 - 20:44
      +1

      Nothing wrong with getting a Euro car, if you can afford it. The fact that you are considering to take out a loan in the first place means you aren't in a position to afford it. Secondly 10 grand isn't a whole lot of money, no use pretending that you're going to get something sporty, luxurious and reliable for under 10 grand.

    • Pantagonist on 13/07/2019 - 22:20

      You probably should have kept the part of your original post that said:

      (Going to be difficult to change my mind though)

      Would have saved the people who replied a lot of typing and you a lot of reading.

    • Kapinny on 14/07/2019 - 11:00

      Why are you upset. You came to a price to performance bargain hunting community for advice. What do you expect you drongo.

    • abuch47 on 14/07/2019 - 12:35
      +2

      If you know what you want dont ask.

      If your happy to spend money on "luxury looks" and expensive repairs dont ask

    • lostn on 15/07/2019 - 23:49

      The problem is, the things you want are hard to afford on your budget. And after you buy it, maintaining it will cost just as much as the sticker price.

      People aren't saying don't do it if that's what you want. But wait until you can actually afford it comfortably first. No need to rush things.

  • chumlee on 13/07/2019 - 12:54
    +3

    Just do it if your heart is set on it.

    Borrowing $10K and paying it off fast is no big deal. Just use canstar or something similar to compare loans.

    If the bmw breaks down, it breaks down. No car is immune from expensive repairs when out of warranty

    • JustASmoothSkin on 13/07/2019 - 13:03

      Might skip the loan but yeah, Reading all this pretty sure my choice in car is the right one. Being mechanically minded, I am hoping I can spot a fault before serious damage gets done (Like throwing a rod or having the engine seize) but in all likelyhood as long as I get a 09 my chances of it being a mostly pleasant experience considering I want to do proformance mods anyways should be pretty normal or atleast similar working on a Ford, Holden or Nissan.

  • [Deactivated] on 13/07/2019 - 13:07

    depends on your age and income

    • JustASmoothSkin on 13/07/2019 - 13:08

      22 years old and $110000 per year, but recently quit to start a business and looking at starting uni for a medical degree when the company starts to make some positive gains.

      Kinda decided I should get my life in shape so orchestrated a master plan for my future.

      • [Deactivated] on 13/07/2019 - 13:28

        Wow that's a good wage for a 22yo, what were you doing? And what's your new business?

        • Seaeagles on 13/07/2019 - 13:55

          Farmer …….. Pharmaceuticals (AKA drug dealer)

          • JustASmoothSkin on 13/07/2019 - 14:20
            +1

            @Seaeagles: Creative smeagles, or you know. I could work 90 hours a week doing fifo. But hey you continue to enjoy making assumptions of people who are both anti-drug and are trying their hardest to actually live a well and productive life.

        • JustASmoothSkin on 13/07/2019 - 14:11
          +2

          Was a fifo Foreman, Machine operating, supervising and truck driving. Depended on what was needed at the time. Decided that what I was doing was not fun or rewarding and decided to start setting up a future, Lost 30KG in 2 months (started while at work) Am now looking at starting a electronics repair business doing mobile phones,tablets, laptops, virus removal and pc diagnostics and retro console modding and repair as well as newer console repair. I am pretty hands on and have been doing this stuff as a hobby for years (Pulled my fathers JVC stereo apart when I was 2 years old) so not too shabby behind a soldering iron or hotair rework station. Done plenty of phones and tablets for friends and family (actually doing a iPad air 2 as we speak) and saving old consoles from the tip is a passion of mine.

          So once the business proves profitable I will rent a office, hire on a couple of guys that share this passion. Make sure that they can handle the day to day and then head into medicine. I have a vested interest due to having multiple scelosis, and have wanted to go into the medical field since I was 10 years old. This will ultimately become my "job" whether I become a neurologist to help people cope with their life changing illnesses or a anaesthetist for the money is really the only thing I haven't decided on.

          Anyway now you see my plans whats yours?

          • SBOB on 13/07/2019 - 17:38
            +2

            @JustASmoothSkin: thats a hell of a plan
            starting a business, hard enough
            making a solo electronics business profitable is takes that up several notches
            making it profitable enough to be hands off and maintain office rent, 2x staff and put yourself through uni, seems…. highly aspirational
            and then after all go and complete a medicine degree

            quite a 10+ year plan you have

            and you were initially wanting to get a loan to cover $10k
            :/

            • JustASmoothSkin on 13/07/2019 - 17:59
              +1

              @SBOB: “Shoot for the moon. Even if you miss, you'll land among the stars.”
              -Norman Vincent Peale

              All got to start somewhere and I am not someone that likes to sit around waiting for the world to fall into my lap, and really all I hear from people my age nowadays is how life is so hard while they have really no aspirations other then partying with friends and buying $100 t-shirts.

              • Pantagonist on 13/07/2019 - 22:11
                +1

                @JustASmoothSkin:

                “Shoot for the moon. Even if you miss, you'll land among the stars.”

                That's assuming you shoot far enough. If you don't, you'll probably end up crashing back to Earth.

                • JustASmoothSkin on 13/07/2019 - 23:04

                  @Pantagonist: So your outlook is "Welp there is a chance I will fail so why bother trying at all." Way to be a negative Nancy.

                  • Pantagonist on 14/07/2019 - 07:21
                    +8

                    @JustASmoothSkin: All I'm saying is that the factors at play that you've listed are working against you.

                    You've just quit a $110K per annum job to start a business venture, so presumably you no longer have a regular stable income. I know you've said that you're no longer looking for a loan, but given your circumstances I think you'd probably be passed over by any serious lender.

                    Your business venture is untested yet you're already talking about renting office space, employing staff and "when it becomes profitable" which will be at least a few years off. In other words, the classic mistakes made by people who've never worked for themselves. I know this because I've run my own business before and even on a shoestring budget you'll tip more money into startup costs than you expect to. In my first year my gross income was around $70K but I only took home about half of that and also didn't pay myself any super. I also had a tax bill instead of a refund at the end of the financial year. That was for a business where I spent a fair bit of time identifying the need for the services I was offering before launching into it. I'm not sure if you've done the same for electronics repair, but my gut feeling is that the economics of that business won't stack up. Nowadays with the minimal cost of consumer electronics vs. incomes, people will prefer to buy new rather than get something repaired as the cost of doing so often approaches the cost of a new item. This is why there are so few repair shops around nowadays, and those that exist are generally in shipping malls doing phone screens with generic parts installed by Chinese students earning minimum wage.

                    You're also talking about going back to study one of the most expensive and lengthy university courses around.

                    So yeah, I'm happy to be labelled a negative Nancy if these are the factors I've been presented with for consideration. To mangle an aphorism, it sounds like you're trying to live a FIFO lifestyle on a Centrelink budget.

                    If you're serious about starting your business, the $10K you have on hand should be directed towards that instead of a fully sick second hand European car.

          • greatlamp on 15/07/2019 - 20:08
            +1

            @JustASmoothSkin: Thats an impressive dream, I don't mean to be negative but I think you vastly underestimate how difficult it is to get into a medical degree.

            If you are good with electronics and fixing things, start a business fixing things that people will actually pay for. You can make more than a doctor fixing air conditioners. You will probably make less than minimum wage fixing mobile phones and PCs.

            • lostn on 16/07/2019 - 00:22
              +1

              @greatlamp:

              I don't mean to be negative but I think you vastly underestimate how difficult it is to get into a medical degree.

              I don't know how things work in WA, but here in VIC, to get into any degree you have to attain a high enough ATTAR (it most certainly would be called something else in other states) score in yr 12. Medicine has the highest cut off of any uni degree. At 22 he would have finished yr 12 already. Which means he'd need to have already obtained that very high ATTAR. If you didn't get in the first time, you don't get another chance. Well technically speaking that isn't true. You can redo yr 12 or some equivalent, but at a penalty to your score because you're getting a second chance. But since the cut off for medicine is so high, that penalty kills any chance you have of getting in.

              You can't simply just pay for the course and get into anything you like. This would give rich kids a huge advantage. The system is designed to give everyone a fair chance.

              I'm going to assume he's already made it in, or that in WA the rules are vastly different. But he does not seem all that wise for someone bright and hard working enough to get into medicine. I also think he is highly underestimating the difficulty of his dream of not just becoming a doctor, but going on to specialize as a neuroscientist or anaesthetist. Specialization is hard due to very limited supply of jobs and a lot of competition for said jobs.

              What I will say is that I find him a very fascinating person and I hope he keeps us updated.

          • lostn on 16/07/2019 - 00:10
            +1

            @JustASmoothSkin:

            This will ultimately become my "job" whether I become a neurologist to help people cope with their life changing illnesses or a anaesthetist for the money is really the only thing I haven't decided on.

            I got some doctors trying to specialize, and it's tough. There are just not many openings each year and a lot of competition. One of my neices wants to be an anaesthetist, but the exams cost $7000 just to take, and they are very difficult exams. If you fail them, you're out of pocket and have to wait another year and stump up another $7000. She's a bright cookie. You have to be to get into medicine at Uni Melb. But the exams are no joke.

            Now at age 22, I assume you yourself are a bright cookie to have medicine in your future. It means you would have already made the entrance requirements but just chose not to enroll.

            Do pardon me if I say this, but my first impression of you is.. how on earth did you get into medicine? I don't think you are making the smartest decisions, and I'm puzzled how a guy who earns $110k a year only has 10k saved up to spend on a car. When it comes to finance, you don't seem as smart as you are in school. You are blowing a lot of money on something else and not allocating enough of it to your true passions, which seems to be cars.

            I'm not even judging you for your choice of car. I'm judging your financial sense which seems to me nonexistent.

            • whooah1979 on 16/07/2019 - 06:37

              @lostn:

              You are blowing a lot of money on something

              You know how it is with FIFO. It's either blows, drinks, girls or all of it.

              • lostn on 16/07/2019 - 09:00

                @whooah1979: I'm confused.. what is FIFO?

                Fly-in fly-out? And what are blows?

              • JustASmoothSkin on 17/07/2019 - 12:29

                @whooah1979: You seem to struggle with reading, I am anti-drug including alcohol, don’t smoke, Worked to much too have a partner and like to use my spare time to learn.

                I have many hobbies including retro consoles, gaming, scuba diving, travelling, cinema, music (Vinyl), photography, cars, gardening, cooking, electronics repair, paintball, prospecting and getting into some motor cross stuff soon.

                Sadly all of that adds up over time, especially on top of normal bills like rent,food and utilities.

            • JustASmoothSkin on 17/07/2019 - 14:11

              @lostn: Hey if nothing else I am stubborn and persistent, I have yet to come across anything that I want to do and can’t.

              Even dropped over 30 kilos in the last 2 months with nothing but dieting, light cardio (riding my bike to the shops instead of driving) and a lot of water. And I had people telling me it was going to take years to work off, still got another 30 kg to go till I am at 100kg but my goal is 110kg by Christmas and 100kg by February.

      • bbaran on 13/07/2019 - 13:34
        +4

        earning 110k a year and driving a 2000 honda civic with 10k of life savings
        aha funny

        • JustASmoothSkin on 13/07/2019 - 14:17

          Never said 10K was my life savings, just said I have 10k in cash to spend. The rest is all spoken for in other areas of my life also not much point owning a nice car when you use it for driving though roo infested country at the break of dawn.

          Already hit 2 roos with the civic, and 3 with my pajero. Last thing I want to do is repair a nice BMW because old red decided to take on the big metal rock darting toward him at 110kmh.

          Don't work outback anymore so can get something I want.

          • smartazz104 on 13/07/2019 - 20:58

            @JustASmoothSkin: Bull bars are cheap…

            • JustASmoothSkin on 17/07/2019 - 12:36

              @smartazz104: Have you ever hit a roo? Bull bars only do so much. Especially if where the roo manages to hit isn’t protected by the bull bar IE the doors or roof pillars. And even with a square hit on the bull bar they can do ALOT of damage, usually have to pull a bull bar straight with a strap and digger atleast once a month and the damages from that can be headlights, bonnet, radiator and spotlights.

      • Providence on 14/07/2019 - 16:11

        Normally I'd say stay away from a car loan for a 22yo but $10K is not a lot compared to what you are earning and interest rates are low. Buy what makes your heart sing and pay the loan off as quick as you can if you need one. But yeah, as above, check out the Liberty GTB before you decide.

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