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So, I am 17 and am ready to buy a car as I have just got my license, and am about to enter my senior year of high school. To keep things simple: -The car I am interested in is 5000$ -The car is FAST. Its a BMW, (not sure of exact model, I can find out though) and gets girls attention instantly :) -All of my friends, including the seller, are fond of the car, it is supposedly in great condition. -The car comes with several modifications, including a great upgraded sound system. -I currently have over 11 grand cash, and a job, so paying 5000$ for a first car doesn't seem like a big deal to me, although I understand many people wont pay more than a couple grand for a first car. I know these details are very basic and uninformative. The Main question I have is: WHAT ARE ALL THE NECESSARY STEPS THAT I NEED TO TAKE TO BUY THIS CAR SAFELY, GET A LEGITIMATE QUOTE ON THE VEHICLE VALUE, MAKE SURE THAT THE CONDITION IS TRULY GOOD, GET A BETTER PRICE, UNDERSTAND THE VEHICLE HISTORY, ALL THAT PRECAUTIONARY STUFF????? I don't really have any people around me that can help me make a smart decision when choosing whether or not this car is worth it to purchase, and I do not want to buy something that is completely not worth it. Please help...Thanks.
Something that I should have mentioned is that the car is not a newer model, meaning that a 5000$ price tag does not mean that the car has any problems (although I definitely would like to have an inspection done). Also, my parents are in NO-WAY involved in anything financial related to me. I am independent when it comes to my money, I have made it all myself in just the past year, and I have not seen a cent from my parents in around 2 years.
You can look up prices for it online, and check around. I am not quite sure about how to go about getting is mechanically checked out before buying it. My family is all mechanics so I know enough to check it myself. Maybe if you know a mechanic or someone good with cars ask them to come with you and check it over. But like that other guy said, you will pay a fortune for insurance. Also, with BMWs, I know a lot of the parts if something should go wrong is pretty pricey as well. For your first car I would honestly not recommend buying a 5 grand BMW. (Though if it is in good condition that is a pretty good price I would imagine.) And if you are just interested in turning heads and having a fast car you can do something better then a BMW for half the price. BMWs are not really considered a "fast car." More of a luxury car. Side note, I know when I was in school and someone would pull in with some new fancy BMW or alike car, everyone would talk about how spoiled they are and how their parents bought it for them and other such things. Best of luck.
I spent 150 dollars on my first car. Two years later... after various dings knicks and unmature driving i bought my new car and spent 15 grand now i have a nice car that i know how to use...properly. Now something you didnt mention is insurance which u for sure need and a 17 year old kid driving in a BMW is not exactly going to be cheap. I am now 21 I have a nissan 350z I spend 170 dollars a month on insurance. As for getting the best price for the car, go look at it, look up the price for this kind of car on kelly blue book and compare.
Get a quote on INSURANCE. You see one of the driving force behind young people buying, not very good cars, is the cost of insurance. If you only pay one or two thousand for a car and you smash it, you just walk away. But your $5,000 is a different kettle of fish. As for value. That's easy. The value of anything is the amount that anyone is willing to pay. So in this case as your willing to pay $5,000 that's what it is worth. Now if this car is for sale and your the only real possible buyer that says he is asking more than the market says its worth. In that case offer him $4,000 and see what happens. Remember, if there is one there is another, so walking away is not the end of life as you know it. For him $4,000 is better than a car in the driveway that he has no desire to drive. As much as you want to buy he wants to sell. He may haggle up a little which is pennsylvania but don't go beyond $4,500. He has your number so can always call you if he changes his mind. You can look through eBay and local classified newspaper type places but keep in mind that your looking at sellers desired selling price, rarely is that what they are selling for.
What you must ask your self is; what is that this going to fee you finally? You are watching at a $2400 fix for a tight vehicle with best eighty,000 and relativly more recent mannequin. after it's performed it'll generally be nice and pushed with out issues for a at the same time except you're discovering extra to be improper. even though you bought it as is, you would get at such a lot $2000 for the vehicle. so if you are taking the 2400 and 2000 you could have 4400 to spend on a brand new used vehicle. A $4400 vehicle isn't the finest on this planet. you're watching at shopping a older mannequin, ninety eight or older, with bigger mileage. as that stands, you're watching at issues even quicker once more together with your new used vehicle, and as a result going to must spend extra money solving that, considering that you're going to by no means purchase a used vehicle with no need to repair whatever. So, i might say repair the vehicle to your 2400, and be performed with repayments. That is the satisfactory factor, not more repayments. so, relying on what your per 30 days cost used to be, you would nonetheless be saving extra money by way of repairing it. ask your self how so much have you ever stored due to the fact the repayments had been completed, does it outweigh what the maintenance might be? simply what i consider will have to be performed.
Your 17 best car for you honda or toyota. less money for parts and insurance, don't worry about eye catching cars to get girls you can have girl on your school. you need a low insurance low cost of car