Hey!

[Skyholder84]

Hey,

I'm a student with a measly $50K budget for a second hand car. Don't own a beemer yet, but am 100% sure that the car I get WILL be one

Need help urgently! Could anyone tell me the total monthly fixed cost (ie:road tax, insurance and servicing.) , of maintaining a Manual 316i or 318i? (Excluding petrol, which varies with use, and installments, as I will pay in full.) ) I need to know how much I must fork out every month.

Please help.

skyholder

 

[SMYUEN]

Re: Hey!

Hi...

road tax- is fixed, so depending on 316 or 318 you can use the road tax calculator.. (can find on websites... LTA or onemotoring or sgcarmart)

insurance - depends on you age, NCB, and capacity, and coupe or sedan or cabrio...

servicing - depends on how old your car is. how much you whack the car, etc...

so you see, i think you need to give more information before help arrives...
and really, a lot depends on yourself...

 

[///M3]

Re: Hey!

hello welcome in..50k for a bmw like too little..unless u going for classic

 

[sszone]

Re: Hey!

wah, your measly budget already more than mine...hehe

anyway consider the the following costs:

1-time cost - car selling price+transfer+road(hopefully paid for, if not try to get seller to give 6 months or something)+1-yr insurance+admin fee payable to agent if any
recurring costs - parking, fines, insurance again, road tax, maintenance, petrol

unless u got recurring monies after that 50k, better to set aside some money for the recurring costs. not to mention the mods, repairs, accidents or whatever one might encounter.

anyway, i guess your insurance won't be cheap cos u already said u are a student so should be young age group, hopefully u are not p-plate or it will be more expensive.

lastly, if u only have 50k, u can consider a e36 or a 520 but i guess u should start off with a smaller car plus the e36 looks less uncle than the old 520. all the best, have fun

 

[missypolkadot]

Re: Hey!

young boy, work hard & i believe you'll get ur Bimmer real sooon! cheers.

 

[ryan]

Re: Hey!

Hey,

I'm a student with a measly $50K budget for a second hand car. Don't own a beemer yet, but am 100% sure that the car I get WILL be one

Need help urgently! Could anyone tell me the total monthly fixed cost (ie:road tax, insurance and servicing.) , of maintaining a Manual 316i or 318i? (Excluding petrol, which varies with use, and installments, as I will pay in full.) ) I need to know how much I must fork out every month.

Please help.

skyholder

I'll be realistic here.

Go for something which consumes less petrol and maintainence, like a honda civic or something. I was once a student paying through my nose each month for a E46 318i. It's not funny given with the kind of money i was earning back then (was working 3 different jobs). Hate to rain on your parade but you could do a lot of other stuff with 50k (or what remains from it when buying a cheaper car).

Invest, buy more books, save, etc...if you have surplus cash, you can always get a bimmer later on. (or you could invest it in one of my new ventures hahaha)

 

[Skyholder84]

Re: Hey!

Hmm, Thanks for all the advice guys! I guess I'll probably postpone the purchase until Uni Year 3. That way I won't be strangled by costs for too long before I begin work. I guess unless I give tuition or prostitute myself, my $900 a month allowance is not enough to support myself, a car and a shopping-obsessed nut of a girlfriend! (I hope she never sees this or she will be :furious: )

Guess I'll save up a little more for my dream car then... 1 more year to go!

 

[louis]

Re: Hey!

wa, $900 a month allowance.....

i'm getting way below market rate. time to re-negotiate. hur hur

with a 50k budget, maybe a used jap car would be more suitable and probably more fun too. even if you bought the bimmer with 50k, you'll not be able to scratch your itch to mod.

 

[Skyholder84]

Re: Hey!

Hmm,

Ur right. Yet, assuming I don't mod, I think even the basic running costs of the car alone would kill me. Assuming I were to get a E36 316i manual, here's the monthly maths:

Road Tax: $80
Insurance: $40 (3P insurance, car registered under father's name.)
Petrol: $300 Assuming 8KM/litre (is this a fair assumption for a E36 M316i ? Non-heavy footer)
Maintenance: $100 (??? No prior experience. Need help for estimate.)
Parking: $40 for coupons and cashcard parking (parking is free at my estate)
Depreciation:$330 (new 10 yr COE car for $39K)

Net monthly cost = $890 (Is this a good estimate? Can any1with a similar model advise me?)

Which leaves me with a balance of $10 allowance. I'll be :screwedu: As mentioned earlier, I'd have to either
1) Give heavy tuition worth $500/month
2) Prostitute myself...
3) Sign on with the SAF (unlike option 2, this is meant to be a joke.)

Any advice guys? (I mean, other than option 3)

 

[ryan]

Re: Hey!

Hmm,

Ur right. Yet, assuming I don't mod, I think even the basic running costs of the car alone would kill me. Assuming I were to get a E36 316i manual, here's the monthly maths:

Road Tax: $80
Insurance: $40 (3P insurance, car registered under father's name.)
Petrol: $300 Assuming 8KM/litre (is this a fair assumption for a E36 M316i ? Non-heavy footer)
Maintenance: $100 (??? No prior experience. Need help for estimate.)
Parking: $40 for coupons and cashcard parking (parking is free at my estate)
Depreciation:$330 (new 10 yr COE car for $39K)

Net monthly cost = $890 (Is this a good estimate? Can any1with a similar model advise me?)

Which leaves me with a balance of $10 allowance. I'll be :screwedu: As mentioned earlier, I'd have to either
1) Give heavy tuition worth $500/month
2) Prostitute myself...
3) Sign on with the SAF (unlike option 2, this is meant to be a joke.)

Any advice guys? (I mean, other than option 3)

Take a cab, or get a beater civic that moves from point A to point B.

Invest it in your education, go for seminars, courses, anything that benefits you would amplify the results later on in life. Your 50k in education could translate into 50 million later.

Don't strap yourself dry so young..........

 

[sszone]

Re: Hey!

Hmm,

Ur right. Yet, assuming I don't mod, I think even the basic running costs of the car alone would kill me. Assuming I were to get a E36 316i manual, here's the monthly maths:

Road Tax: $80
Insurance: $40 (3P insurance, car registered under father's name.)
Petrol: $300 Assuming 8KM/litre (is this a fair assumption for a E36 M316i ? Non-heavy footer)
Maintenance: $100 (??? No prior experience. Need help for estimate.)
Parking: $40 for coupons and cashcard parking (parking is free at my estate)
Depreciation:$330 (new 10 yr COE car for $39K)

Net monthly cost = $890 (Is this a good estimate? Can any1with a similar model advise me?)

Which leaves me with a balance of $10 allowance. I'll be :screwedu: As mentioned earlier, I'd have to either
1) Give heavy tuition worth $500/month
2) Prostitute myself...
3) Sign on with the SAF (unlike option 2, this is meant to be a joke.)

Any advice guys? (I mean, other than option 3)

u gotta be careful with the insurance part....cos need to assign drivers or something
dun end up in an accident and not being able to claim....bummer..

and just an advice, dun let your gf knows you got 50k especially since she is a shopping kind....supp cards, atm cards or whatsoever....hehe.....just my 2 cents....cos i have seen my share of bloodsucking gfs of alot of my richer ah sia gia frens......my frens seemed so resigned....poor thing.

and better dun think of selling your life away to SAF unless u are prepared for that kind of career.
option 2 maybe more plausible for u especially if u are a yandao boy...haha...just kidding

buy an old car if u really need to....to get the experience....your share of accidents, knocks and summons, mods, whatever.....the guys in the forum should be able to help regardless of bmw or jap car. just be careful of unscrupulous car dealers though...

put the 50k in fixed deposit or something....get some free gifts from those banks hopefully xbox360...hehe

 

[Mockngbrd]

Re: Hey!

50k for a student is pretty good seriously... heck...when i was a student... $50 was good

 

[kurqa]

Re: Hey!

50K for a student is DARN good...not to mention the recurring $900 allowance..that would last me months...no kidding! your parents must be really rich and generous people dude.

and ryan...paying for an e46 as a student??!!! would love to know your trade secrets man...it's one thing to get it from parents and another to pay for it yourself. RESPECT.

 

[C3P0]

Re: Hey!

Hmm,

Ur right. Yet, assuming I don't mod, I think even the basic running costs of the car alone would kill me. Assuming I were to get a E36 316i manual, here's the monthly maths:

Road Tax: $80
Insurance: $40 (3P insurance, car registered under father's name.)
Petrol: $300 Assuming 8KM/litre (is this a fair assumption for a E36 M316i ? Non-heavy footer)
Maintenance: $100 (??? No prior experience. Need help for estimate.)
Parking: $40 for coupons and cashcard parking (parking is free at my estate)
Depreciation:$330 (new 10 yr COE car for $39K)

Net monthly cost = $890 (Is this a good estimate? Can any1with a similar model advise me?)

Which leaves me with a balance of $10 allowance. I'll be :screwedu: As mentioned earlier, I'd have to either
1) Give heavy tuition worth $500/month
2) Prostitute myself...
3) Sign on with the SAF (unlike option 2, this is meant to be a joke.)

Any advice guys? (I mean, other than option 3)

Hi Skyholder,
A piece of advice for you from an accountant:
Congrats, you don't have to prostitute yourself, or even worse, sign on with the SAF. If you are paying the $39k in full using cash (which I assume you are, from your first post), then you don't have to factor in the monthly depreciation of $330. That means you still have $430 left every month.
However, your monthly maintenance of $100 may not hold true for the 1st few months. I bought my E36 and within 2 months, spent like $1300. And that;s only wear and tear, heh heh...