Looking at a 1M - some questions!

[AlanD]

Hi guys

im new here so some of my questions might be a little silly.

i want to buy a 1m. just passed my probation at work at got a nice payrise. im still at home with mum and dad but i can afford to finance a 1m on about 1800 a month fully leased for 4 years.

i figure its a good way to teach myself some financial control before getting into the housing market (esp considering the big crash thats mean to happen soon).

so a few questions:
- are they good on fuel economy? i mean i know it's not gonna be a Prius but I'd like to know if its actually liveable on fuel
- id like to do a few modderfications like a black roof and maybe a muffler or something - are they expensive too?
- if i do my own oil changes will i lose any warranty? i heard bmw service is really expensive
- any common issues i need to consider/look out for/ask about?

thanks so much guys,
Alan

[BMW86]

Originally Posted by AlanD

Hi guys

im new here so some of my questions might be a little silly.

i want to buy a 1m. just passed my probation at work at got a nice payrise. im still at home with mum and dad but i can afford to finance a 1m on about 1800 a month fully leased for 4 years.

i figure its a good way to teach myself some financial control before getting into the housing market (esp considering the big crash thats mean to happen soon).

so a few questions:
- are they good on fuel economy? i mean i know it's not gonna be a Prius but I'd like to know if its actually liveable on fuel
- id like to do a few modderfications like a black roof and maybe a muffler or something - are they expensive too?
- if i do my own oil changes will i lose any warranty? i heard bmw service is really expensive
- any common issues i need to consider/look out for/ask about?

thanks so much guys,
Alan

Hey Alan.

Re fuel economy. For the power it makes I think it's very economical. On the highway it's cheap to run too.
Re mods - black roof probably around $350. Exhausts can be expensive depending on brand, maybe look at a used one or change different sections depending on what you want.
Re oil changes - yes. But I don't think anyone would tell the dealer.
Re common issues - there's a few small issues - plugs, vanos solenoids, injectors, pumps etc. But fairly inexpensive in the big scheme of things. The motor is bullet proof.

[7smurfs]

Originally Posted by AlanD

Hi guys
before getting into the housing market (esp considering the big crash thats mean to happen soon).

You may be waiting a long time!
In regards to investments, I am of the opinion that it is best to get in as early as possible

[sparoz]

Originally Posted by AlanD

Hi guys

im new here so some of my questions might be a little silly.

i want to buy a 1m. just passed my probation at work at got a nice payrise. im still at home with mum and dad but i can afford to finance a 1m on about 1800 a month fully leased for 4 years.

i figure its a good way to teach myself some financial control before getting into the housing market (esp considering the big crash thats mean to happen soon).

so a few questions:
- are they good on fuel economy? i mean i know it's not gonna be a Prius but I'd like to know if its actually liveable on fuel
- id like to do a few modderfications like a black roof and maybe a muffler or something - are they expensive too?
- if i do my own oil changes will i lose any warranty? i heard bmw service is really expensive
- any common issues i need to consider/look out for/ask about?

thanks so much guys,
Alan

Get a house before you get a car.

Economy is not as good as diesels.

Define expensive...

No, but 1Ms are out of warranty anyway.

No, but we always will wonder if our fuel pump will die.

[MPoweRo]

Can I just say if you're concerned about costs associated with fuel use then a second hand high performance European car is not what you're looking for. Plenty of time to buy nice cars in the future. Buy within your means and prioritise funding something that will appreciate, like realestate or shares.

[racer_x]

Originally Posted by Ro1M

Can I just say if you're concerned about costs associated with fuel use then a second hand high performance European car is not what you're looking for. Plenty of time to buy nice cars in the future. Buy within your means and prioritise funding something that will appreciate, like realestate or shares.

Best financial advice you'll get.

Buy toys with money you don't need.

[COZ01M]

I get roughly 360 - 400kms out of a tank. I do a lot of stop start driving. Better economy on the free ways.

No issues to report and nearly 3 years old.

Easy to mod.

I get my servicing free but change the oil every 7 - 10,000kms and BMW is none the wiser for it.

Definitely buy a house first, then you have the freedom to use the equity in it to enjoy your toys.

[Harlequin]

Originally Posted by sparoz

No, but 1Ms are out of warranty anyway.

I still have 2 months left on mine

[Orlin]

Love the sig Angus!