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Pay bills or Buy E46?

  • E46

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Discussion Starter · #1 ·
Man this is a bad day. I've been sitting here politicing whether to get an E46 or payoff another bill with the money I could use as a down payment. Before I go further here is my logic. I have two major loans left that I want to be done with, but at the same time I'm ready to step up to a better car because right now I'm trying to pimp a 01 Kia Sportage. :bawling: Well after reading everything on E46fanatics.com I feel like pushing back the scheduled time my bills are supposed to be payed off to buy my E46, but then again if I wait I can buy more car and with tax return season coming up plus a bonus I'll be recieving then I can give a bigger down payment. Arrgghhh!!! It's just getting me upset that I should just do the right thing and wait a little time and payoff my bills. Unless that little devil pops up on my shoulder and intervens. What do you guys think I should do???
 

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No more E46 :(
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I'd pay the bills off first..otherwise you are going to dig yourself a bigger hole (bills + e46 payment).

All this time I thought you drive a LS...
 

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I'd say pay of the bills first, then save back up for the BM. Because without the bills you'll be able to save up for the BM again quicker - an could put a bigger down payment on the BM.

Good luck.
 

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Discussion Starter · #5 ·
Yeah I got rid of my LS it was 13 years old and becoming a frequent at the repair shop.
 

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why don't you get a less expensive car?? you don't NEED an M3 to impressive others. keep in mind that your payment and insurance for an M3 will be very high compared with, let's say, a bmw 325ci or audi a4 1.8t or g35c. i don't know your financial status, but if you are going to end up spending a significant portion of your income on an M3, then you are buying a car that you really can't afford. basically, the lower the car payment and insurance is each month, the more you will have to pay off your other loans off earlier.
 

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Stew330i said:
Who said anything about buying an M3?

my bad. i guess i chose to see the word "M3" in your thread... :p


in that case, you can always get a used e46 so that you can "impress" others while not having to get stuck with high car payments. a 323ci can probably be had for around $20K these days. also, a friend of mine recently bought a 2002 a4 1.8t with 50K miles for $21K. so if you really wanted to, you CAN have an e46 and be able to pay off your loans sooner, but you will have to settle for used.
 

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Lying, drunken cheat
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Always pay off your bills and get out of debt as quickly as possible. Buying more than you can afford when you already owe money is an easy way to destroy your credit and end up underneath a tremendous amount of debt or even bankruptcy.

Believe me, as much a hardcore enthusiast as I am, I would not be driving this car if it weren't the only major financial drain (mostly due to repairs and insurance) that I currently have. In fact, being conservative with my money is the reason I'm still driving it after 4 years with no real end in sight at the moment. It would be easy to trade it for a new E46 or something else and make payments like everybody else, but this car has been paid off since day one and I'm determined to get through my first few years of independence without burying myself under a mountain of debt. There's a lot of comfort in knowing that the car is 100% mine, I owe nothing on it, and I owe nothing elsewhere, either.
 

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Bahn Burnah
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akhbhaat said:
Always pay off your bills and get out of debt as quickly as possible. Buying more than you can afford when you already owe money is an easy way to destroy your credit and end up underneath a tremendous amount of debt or even bankruptcy.

Believe me, as much a hardcore enthusiast as I am, I would not be driving this car if it weren't the only major financial drain (mostly due to repairs and insurance) that I currently have. In fact, being conservative with my money is the reason I'm still driving it after 4 years with no real end in sight at the moment. It would be easy to trade it for a new E46 or something else and make payments like everybody else, but this car has been paid off since day one and I'm determined to get through my first few years of independence without burying myself under a mountain of debt. There's a lot of comfort in knowing that the car is 100% mine, I owe nothing on it, and I owe nothing elsewhere, either.

:thumbup: Same here, pay your bills first
 

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paying off your bills will benefit the most in the long term. you will have a better debt/earnings ratio and the payments will hopefully give you a better credit rating to purchase a new car.

the fact is that your only talking less than a year not like four or five years down the road. you already stated you will have your tax return plus a bonus which if you file quickly, you will have in plenty time. not to mention that you can custom pick the car, color, addons and that will take the car a few months to get to you before you have to have the money. and of course this was already stated the E90 is coming out so if you love the E46 you will be able to find a nice one in great condition with out taking it up the ass.
 

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Discussion Starter · #13 · (Edited)
Thanks!!

Well I started this thread two years ago and all I can say is thanks to everyone for the advice. First off I still have bills but I'm more financially stable than before. The thought of getting a Bimmer is still freah in my mind, but due to my displeasure in the E90, I'll most likely get an 04 or 05 e46 in 08. Not worried about the age as long as I like it and I get to mod it the way I want to. So anyway thanks again to everyone you guys helped me out make a good decision in the long run.
 
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