Soon to be (young) 128i owner!

[Monterra]

VW representation in CR's "models to look for": Volkswagen Rabbit '07-08

VW representation in CR's "models to avoid":
Volkswagen Cabrio '99, '01-02; Eos '07; Golf '02-03; GTI (turbo) '02-03, '06-07; Jetta (4-cyl.) '99-00, '03, '05; Jetta (turbo) '01-04, '06; Jetta (V6) '00-01, '03; New Beetle '99-07; Passat (FWD) '99-04, '06-07; Passat (V6, AWD) '00-01, '07; Touareg '04-06, '08

While we admittedly don't see the 04/05 GTI here when the years surrounding it are models to avoid, I'm staying away. Additionally I think the reason the 04/05s aren't there is because they didn't have enough data on those model years to give any ratings at all. Its a not a bad car to drive I just think there are better, more practical options:
Civic/Accord/SI/RSX
Impreza (previous gen non-turbo, manual) don't knock it till you try it...

[mkvigli]

Originally Posted by jeremydgreat

+1 Great idea.

And listen, I know this wasn't probably the thread you wanted it to be and that it probably feels like we're all ganging up on you and hating. We're not. Many people are speaking up because 10 or 15 years ago, they were in the same position as you and looking back, they wish someone would have said "don't do it".

And notice, I didn't say you should go put that money towards school or give it to your parents. Who knows- your parents could be crack heads. And who knows- maybe school is not the best route for you. I think those life choices are more unique to your situation and I won't presume to give you all that life advice. All I know is that freedom from a monthly car payment during these years will certainly be a good thing- something you'll be pretty proud of in the next few years as you watch your pals get themselves into credit card debt. And statistically, that WILL happen.

Couldn't agree more.

[BForbes]

Originally Posted by Monterra

VW representation in CR's "models to look for": Volkswagen Rabbit '07-08

VW representation in CR's "models to avoid":
Volkswagen Cabrio '99, '01-02; Eos '07; Golf '02-03; GTI (turbo) '02-03, '06-07; Jetta (4-cyl.) '99-00, '03, '05; Jetta (turbo) '01-04, '06; Jetta (V6) '00-01, '03; New Beetle '99-07; Passat (FWD) '99-04, '06-07; Passat (V6, AWD) '00-01, '07; Touareg '04-06, '08

While we admittedly don't see the 04/05 GTI here when the years surrounding it are models to avoid, I'm staying away. Additionally I think the reason the 04/05s aren't there is because they didn't have enough data on those model years to give any ratings at all. Its a not a bad car to drive I just think there are better, more practical options:
Civic/Accord/SI/RSX
Impreza

My 2002 Jetta was such crap. I dont even think its on that list^^ The CEL light was on frequently. It had a faulty sunroof from the beginning. It wasnt even the turbo edition. It did keep me safe when I was plowed into traffic though.

[135iUSN]

Originally Posted by MrRoboto

Well said!

totally agree !

[jstevenson]

Originally Posted by instantexpert

I"m going to be blunt. An awful lot of 16 year olds wreck their first car. The faster that first car, the more likely it is to be wrecked. If not by you, then by one of your friends who you let take it for a spin.

This is the time to get one of those cool, impractical cars that it'll be a long time before you can afford one again. An old Triumph TR6 (I mention it here because I always wanted one), MG, Miata, etc. Something unique, quick, and cool. Yes, it'll require more maintenance but for far less than 15K, you can have a car that is a blast to drive, will teach you driving skills and is not going to chew up your finances and put you in the hole.

I agree with this 100%. I got an MG-B at 17. It was an absolute blast, hot little car, girls loved it, I bought it super cheap and it appreciated in value as I had it. Plus I learned a TON about working on cars with it. It's a car you can take a book for get some parts and work on yourself. Eventually even pulled the engine and replaced the clutch.

There are some awesome older classics out there that can be got for cheap - you can learn to drive and maintain with, and still set yourself up good.

I can agree you don't want a car payment either... it's not fun even when you're making six figures to outflow money every month.

[penny]

I'm 27. Have a very well paying job and zero credit card debt...but I still think my 135 purchase was a little overboard. I'm frugal.

[AZ135]

Why don't you help your parents pay for your college with that 15k.

...Because the money was a gift from his grandmother to buy a car. It wasn't a gift to do whatever he would like with it.

[montreal red]

jesus... why do i always see so many people hate on youngsters getting a bmw ??? i mean if the ops family is willing to help him out with payments and what not, whats the big deal?? just because he's young doesnt mean he is a boy racer who's going to bomb down the nearest neighbourhood and break neck speed!! give the man a break!

oh and i'm 23 in case you guys are wondering.

[penny]

I actually thought he'd be a conservative and safe driver. It's just not a smart buy at 16.

[Heinzftw]

Im going to chime in again. For 35k if you really want a bmw. Why is your heart set on a 128? There are soo many CPO'd BMW's that could be had for much less.
335 E90, 335 E92, 135i, M5, M3, ZHP, M coupe.
Non BMW's:
S4, A4, A3, R32, STI, GTI, Accord V6, MR2, 300ZX.
Dude just shop around!
Get a car that has around 240+hp, learn to drive better, and be safe.

[MrRoboto]

Originally Posted by montreal red

just because he's young doesnt mean he is a boy racer who's going to bomb down the nearest neighbourhood and break neck speed!! give the man a break!

Tell that to your insurance company. I am sure they have stats that say different.

[Jimmydean]

"So for my 15th birthday, my grandma who loves me very much, gave me $15,000 to buy a car. But I'm in no way spoiled."

I'm trying to control my laughter and I'm trying not to hate... but I'm sorry - does anyone else find fault with this post?

Anyone who is given $15,000 by a family member for a car when they are 16 is spoiled. Plain and simple.
You might be the nicest kid in the world and get straight A's and be captain of the football team...
but if you are given and spend all $15,000 on a car, you are
A) unwise, and
B) spoiled.

Just realize that EVERYONE knows you can't afford that car on your own - and EVERYONE knows mommy & daddy (or grandma in this case) got it for you.

My advice:
Get a clunker for 2-3k. Get a job. NOW. Give the money to your parents, or if they aren't good with money, just put it in a savings account!

Bottom line:
*Any kid under the age of 18 driving a BMW is obviously spoiled - there is NO WAY he can afford it. He/she looks ridiculous.
*Anyone who lives with mom & dad and drives a BMW looks kind of stupid.

-FYI - I'll soon be paying cash (that I earned through hard work) for a 128i

[HachiNi]

its good that you're not going with the 135, its got wayy too much power for beginners.
gluck on the job hunt, its tough out there..

[subscience]

Originally Posted by penny

I'm 27. Have a very well paying job and zero credit card debt...but I still think my 135 purchase was a little overboard. I'm frugal.

Same here. I decided to splurge a bit on my first car and while I can comfortably make the payments each month, it still irks my frugal side knowing I'm forking over a monthly payment. Sometimes I wish I had just bought a used car for cash, but on the other hand, I really do love this car.

One regret, however, was looking at a few more used cars after I had put in my order and finding a very well kept '99 NSX for sale.


Edit- And a friend of mine wrecked 3 different cars between ages 16-18. Thankfully they were all hand-me-downs, but the last thing you wanna be is that guy who wraps his brand new 2009 around a light pole. There was a dude at my school who got a brand new SLK and ended up wrecking it within 2 months. His parents then got him an IS and he ended up wrecking that one too. Jesus.

[Robert]

Buy the car. You only live once. Who say you will live till tomorrow.

That said I should have waited a year and bought a used cayman s instead.

The right decision is one which you won't second guess or regret regardless the economic implications.

[G5Ti]

Originally Posted by MrRoboto

Dont know about that. A ~2005 GTI rates quite high for reliability. And that 1.8t is a peach. Their are lots on the road, lots of parts available.

Whatever you decide try and buy it from a dealer who offers some sort of used car certification and warranty program.

As the owner of a '98 GTi VR6 (2nd car) and an '02 GTi 1.8T ("337"), I would not recommend a used VW, even CPO. My VWs cost an arm and a leg to maintain, and I was insanely responsible and bought cars with impeccable records. I'm also not hard on my cars at all.

That said, I would second the advice of others. I am not from a family of great means, and I seriously overspent on my first paid-for-by-me car, that '98 GTi. It was something like $13k, and having that payment while I was in school was miserable, because it always meant that after class, I went to work. I missed a lot of valuable time with my friends because I was supporting my slick ride.

Now, don't get me wrong, I love cars. But I probably would've been happy with a $7k Civic SI or an older, MK2 GTi that would've cost less to buy, insure and maintain.

Even now, at 27, the 128 was probably not the wisest choice, but it was a decision made after months of consideration. It's my "last hurrah" before I adopt kids, at which point, they get all my money.

[subscience]

Originally Posted by Robert

Buy the car. You only live once. Who say you will live till tomorrow.

I disagree. Research, research, and research some more. Make the most informed and logical decision possible.

[JHZR2]

I got a brand new truck when I turned 17 and had my license for about half a year. Prior to that, my parents made me drive everywhere (a great thing when you first have a license). Like you, I was a straight-A student, and my parents though me responsible enough to get a $21k truck (this was about 10 years ago) of which I paid about half.

I had two other things going:
-Parents willing to foot the bill for the rest of the car (they were not going to have me working in college to pay for a car).
-Parents willing to allow me to be on their insurance plan, and willing to pay for my insurance.

Those two factors were huge. It meant that though I had a high interest in the initial payment of the car, for which I paid about half, they footed the rest of the bill - no money worries for making payments. The fact that I was on their insurance also offered me a good rate, and no worries about paying while in college - a definite plus.

I never got into an accident, and only got a speeding ticket in a small town trap - definitely not doing anything out of line. I believe that though rare (not trying to be "holier than thou", but let's face reality), SOME people have the potential to act more mature than their age and do things that are abnormal compared to their peers, and do so without creating issues.

You need to evaluate the money situation first - $15k is a great gift, and unlike most, I have no issues with suggesting a brand new car; then you need to be very honest with yourself, and decide if you will be following the letter of the law at all times, or if you will be too tempted with this or any other car. Only you can determine this, and you need to be really honest, as you can see $15k flash away before your eyes.

You then need to consider college. Will you have a car? 99.99% of college students do not need a car at all. "luxury" and "freedom" dictate the idea that it is important, but it really isnt. So, you need to think about college - where do you want to go, what will you do with the car (pay insurance for something you arent using?), what kind of level of income you will require to keep up the required costs of the car while in school, and what that will do to your bottom line. Remember, most colleges require you to live on campus for at least the first year, and most do not allow freshmen to have a car on campus (unless they are commuters). I assume that as a straight-A student, that youll be getting some sort of assitance money for whereever you go, and that youll be going to a school where you will live. These are valid concerns, because "your" car will then not be usable by you, and there will be implications for sitting, or else your parents will use it. Plus, youll be burning dollars insuring something that you can't use. When you do get it to school, the lots will likely be full, vandals will abound, and people are such slobs that your doors will likely get dented. That's an awful expensive dent for a student.

If everything lines up, then you may want to go for it. The suggestions Ill make are as follows:
-avoid trinkets, widgets and extra gadgets, as they creat higher cost situations and less reliability.
-avoid big tires and wheels even if they look good. They often provide less utilitarian summer tires (so you wont have a four-season car), and are far more expensive to replace... youre cash-strapped in reality, so watch stuff like this.
-Learn to drive MT. Learn the technique, the physics, the momentum.

Now, let's just assume that your parents will cost-share with you, pay half the cost of a car, and are also willing to help you to have a favorable insurance rate. You are a good student, and so will have minimal college costs, which your parents are willing to pick up as well. In reality, you need only $1000/yr., which can be obtained via a summer job, so everything is looking good... Is this still the best choice?

Maybe... but its tough. Everything has to line up for this. It is a LOT of money to spend on a vehicle that, though super-neat, isnt necessarily the smart decision.

I'd look for a cherry E30 or E36 car, set up as you like it, and pay for it cash (against my buy it new rule, but it gets you a BMW), or else a slightly cheaper car that will give you better insurance rates, more utility, etc. Though against my drive an MT car rule, I'd say to look at a chevy malibu or ford fusion. The base models can be had for under $20k and are solid, excellent cars. Anything honda is overpriced, and the questionably marginally higher reliability isnt worth it. Pay it nearly or all cash, have lower insurance, more space, and still have the security of a new car.

[JasonCSU]

Originally Posted by penny

I'm 27. Have a very well paying job and zero credit card debt...but I still think my 135 purchase was a little overboard. I'm frugal.

Same here as well (28 though). I figured this may be one of the few times in life that I could purchase such a car without having to worry about other factors affecting my decision. You've got to live a little as long as you're not being completely financially irresponsible.

[1013mm]

he may live once, but his life might be cut short due to this decision bud.

[fastbutcurious]

Originally Posted by jzhang

he may live once, but his life might be cut short due to this decision bud.

So your saying i'm gonna race my ass off and kill myself?
Well you're completely WRONG

I appreciate all of your suggestions but seriously, I'm tired of everyone thinking I'm gonna wreck any car I drive. I don't like driving fast and I have no intentions of racing. Thus if i don't drive fast, I have the same chance of wrecking my car as any of you 20 or 30 year olds. Yeah I know it won't always be my fault when i get into an accident. But you guys all say it like there's someone waiting to ram into me at every intersection.

I'll only get the 128i if it will be easy for me to pay alone. Incase I lose my job I'll save up the extra money I'll make working fulltime in the summer, and use it while I look for a new job.

BTW My grandma said i could get my car when i'm 18. But she had no idea 16 year olds are allowed to get their license. If she didn't want to me to get a car, then and only then I would wait to buy my car. But there's no way in hell i'm buying a 1980 or even 1990 anything. I'll probably drive my civic for a while until i think I'm ready.

And if i could only just barely afford the 128i I decided on getting a new Accord Sedan. I know I'll easily be able to pay for it. Also I'm not really blowing all my money away. An Accord will be a car I will happily drive for more than 5 years. Until then when I'm out of high school I'll be working to get my own BMW. Oh and I'm not really into any BMW model older than 2004, besides M3s. But I'll feel much more satisfied buying a new car.

And I don't need the money for college. I already have a college savings account.

[1013mm]

Originally Posted by fastbutcurious

So your saying i'm gonna race my ass off and kill myself?
Well you're completely WRONG

I appreciate all of your suggestions but seriously, I'm tired of everyone thinking I'm gonna wreck any car I drive. I don't like driving fast and I have no intentions of racing. Thus if i don't drive fast, I have the same chance of wrecking my car as any of you 20 or 30 year olds. Yeah I know it won't always be my fault when i get into an accident. But you guys all say it like there's someone waiting to ram into me at every intersection.

I'll only get the 128i if it will be easy for me to pay alone. Incase I lose my job I'll save up the extra money I'll make working fulltime in the summer, and use it while I look for a new job.

BTW My grandma said i could get my car when i'm 18. But she had no idea 16 year olds are allowed to get their license. If she didn't want to me to get a car, then and only then I would wait to buy my car. But there's no way in hell i'm buying a 1980 or even 1990 anything. I'll probably drive my civic for a while until i think I'm ready.

And if i could only just barely afford the 128i I decided on getting a new Accord Sedan. I know I'll easily be able to pay for it. Also I'm not really blowing all my money away. An Accord will be a car I will happily drive for more than 5 years. Until then when I'm out of high school I'll be working to get my own BMW. Oh and I'm not really into any BMW model older than 2004, besides M3s. But I'll feel much more satisfied buying a new car.

And I don't need the money for college. I already have a college savings account.

sometimes the inevitable can happen and would have NOT happened if you had MORE EXPERIENCE. I'm 21 and that's all I can tell you if it doesn't get through your head you really need a wake up call man. And I won't call you a KID cause I'm nice.