[Mantup]

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[rcaso26]

Sorry to hear man. I had an e46 before my f30 328i. Overall it's a great car, I would try and get a 330 over the less powerful 325. It's really a great drivers car and handles incredibly well. I found the straight 6 engine to be much more responsive than our turbocharged car that needs to spool up before really accelerating. That said, the e46 cars are 15 + years old and even a well taken care of e46 will have issues that pop up. I ended up getting rid of mine after it was in the shop almost monthly. I hate to be the bearer of bad news, but you may want to get into something a little more reliable / cheaper for the time being (not a bmw) to get your finances in order. Just my 2 cents. Good luck with everything.

[Kafkaesque328]

Sorry to hear this. If you are concerned about monthly expenses and variable expenses though, I would take a more than decade old used BMW off your list of cars. If your situation is how you describe, you should sell the 328 and get something lightly used and reliable on the cheap and revisit the brand when your finances change. Your post is a personal finance post, not, in my opinion, a chance for guys to chime in about how great a 'driver's car' the E46 is. Yeah, when it runs and isn't leaving puddles of fluids on your garage floor. Come on guys! OP, you are always going to get some guy on here who had a garage queen E46 that he claims to have gotten 200k trouble free miles out of and then there is the real world. Granted, you can pick up an E46 325i for really cheap (still in my opinion one of the best looking Bimmers) but you better set aside another ten grand for oh by the ways and what ifs. You're not buying an old Accord, here..

Sounds to me like you need the $20k cash buffer in your pocket, so depending on how many miles a year you drive and your commute, I would pocket the cash, park it somewhere where it earns a little interest or pay off some debts and lease a cheap commuter car, like a Chevy Cruz or a base Jetta or something for $150 a month. Again, revisit the brand when you can afford to drive one that is relatively new.

My 2 cents. Good luck

[kpgray]

Been there, done that (forced to sell car due to reduced income when daughter got ill and Wife had to quit work to take care of her). Makes you smarter, next question is, how can I make more money to buy one of these new! Focus on not just doing your job, but becoming the absolute best in what you do! Exceptionalism comes with rewards. Car is a luxury, do not let the other payments go, your credit score will suffer too much and take years to get the score back. e46 is still a BMW, but other bills come first. Good luck. By the way, better now than after couple kids and make that ex wish she did not walk away.

[chiefneil]

I think you’d be lucky to get 18k in a private party sale, but your best bet is to check kbb and see what it says.

I wouldn’t recommend an E46 for someone already tight on cash. You never know what kind of repairs you might run into, and with cars that old there’s always the risk of a major repair like a transmission going out. Even without major repairs you’d be looking at around 1-2k per year in basic maintenance and other repairs (I’m speaking from personal experience).

Get yourself something basic and sensible, like a decent used Civic, and work on getting yourself back on your feet. Best of luck to you.

[technologic]

sorry to hear of having to make touch decision like this. Even though I am a BMW enthusiast, I reply about financials not cars. What I suggest is to make a very detailed post on reddit personalfinance. The advice you get there can help you own a car you like better than your current car in maybe just a couple of years. Post your month budget there and ask for advice. You seem like an open person, based on your post. If you put the time into and follow the advice there I am willing to bet the one income left (yours!) will take you really really far with a careful budget...But - If I were to guess, and to be a debbie downer, you'll be told to forget the wheels and pay off your debt. At least the credit cards... It will hold you back, as in way back. Use the work wheels. If you absolutely need your own car get cheap nissan or something cheap to gas, insure and maintain. An old BMW for someone struggling to make payments is asking for financial ruin my friend.

[technologic]

it would seem the chief and i think alike as we were typing those responses at same time

[enchilada]

I'm assuming you're out of school since you're in repayment on your student loans. If it's still an option, you may be able to pause payments due to hardship.

2nd job and see if you can make it work. Else, downgrade your lifestyle in other areas as much as possible (don't eat out as much, kill your netflix/spotify/gym, downgrade your living situation and rent a room if you can get out of your lease unscathed.

I don't see you selling a '13 328i for $20k. I see low mileage/lease-return 2015 328s for $20 - 24k and 320s for $18k - $20k... best of luck and you'll get through it - this is temporary.

Don't have info on e46s, sorry.

[IK6SPEED]

Originally Posted by Mantup

Long story short I bought a 2013 328i Xdrive with the cold weather package about a year ago for 20k it had 29k miles on it. I absolutely love this car, like more than someone should love a car.

I got the car because I could swing the payments and during the week I have a work van I drive. Now the car has about 34k and I owe 18.5k on it. My fiancee peaced out on me out of the blue and now my 2 income household is down to 1. I'm falling behind on credit card payments, student loans, ect. I've kept current on the car but I'm slowly sliding behind on everything else.

The thought of selling the 328 really bums me out, it's kind of the last thing I have that I'm really proud of. But I'm not sure I can keep on like this. I've thought about trying to sell it for 20k and getting a e46, but I'm not sure if I would be happy with a e46. So my 2 questions are...

1: e46 vs F30 328i? Pros? Cons?

2: Could I get 20k for what I have? Here is a pic of her.

View post on imgur.com

No I do not think you will get $20k. Why is your car worth more than any other 2013 328x in NC?

An important part not answered, what is your monthly payment?

[Fuller]

I agree with much of the above sentiments. A decade(s) old bmw like an e46 is still a financial burden in the form of problems and expensive repair bills. The last thing you need when things are tight is for your car to break down and require several $1000 to get back up and running - only to experience more issues a few months later.

The best plan is to get something cheap, reliable, and less exotic (so cheaper to fix and maintain). You'll be thankful for the stability it'll bring when things are already stressful. Some might disagree with me, but I'd avoid European makes for now. Even economical brands like vw seem to be hit or miss (at best) in terms of reliability, and tend to cost more to repair and maintain than mainstream Japanese or American cars in the same class. Also, for reliability, try to avoid cars with hybrid technology or forced induction.

[jmg]

What's your monthly?

[akf30]

To me it's not worth it, id get rid of the 328i get your finances in check and revisit coming back once everything is squared away.

But the other side of me says, get a part time job if you can handle it or squeeze it with ur full time job. Not sure what the pay is down in NC, but in Boston, you can find an warehouse or other similar jobs that are part time during the evening/early morning hours making $14-20 an hour. Most of them are a few hours a day. A 10-20 hours a week part time might be able to help keep the payments going for the 328i while also managing your other debt.

All depends on your full time job schedule and how much you can handle, at the end of the day, just remember it's a car and only that, a car. Not worth screwing the rest of your finances up for or killing yourself over for.

[Kafkaesque328]

Originally Posted by Fuller

I agree with much of the above sentiments. A decade(s) old bmw like an e46 is still a financial burden in the form of problems and expensive repair bills. The last thing you need when things are tight is for your car to break down and require several $1000 to get back up and running - only to experience more issues a few months later.

The best plan is to get something cheap, reliable, and less exotic (so cheaper to fix and maintain). You'll be thankful for the stability it'll bring when things are already stressful. Some might disagree with me, but I'd avoid European makes for now. Even economical brands like vw seem to be hit or miss (at best) in terms of reliability, and tend to cost more to repair and maintain than mainstream Japanese or American cars in the same class. Also, for reliability, try to avoid cars with hybrid technology or forced induction.

Not to mention, what is your time worth? Time is money. Its not just the money to keep up the E46, its the time to deal with repairs whether its DIY, dealer/shop or god forbid, you being stranded on the way to work. That shit is for the birds. Your primary vehicle that you use to get to where you go and make $$ needs to be reliable, period.

[Mantup]

Originally Posted by jmg

What's your monthly?

$399 and $120 for insurance

[Mantup]

Originally Posted by Kafkaesque328

Not to mention, what is your time worth? Time is money. Its not just the money to keep up the E46, its the time to deal with repairs whether its DIY, dealer/shop or god forbid, you being stranded on the way to work. That shit is for the birds. Your primary vehicle that you use to get to where you go and make $$ needs to be reliable, period.

Yeah I get that. I don't actually drive the BMW during the week at all. I'm a HVAC Mechanic and the company provides me a take home van that I use for work. I was thinking about a e46 to wrench on and take out on the weekends, and if something happened it could sit until I could get it sorted without effecting anything.

[IK6SPEED]

Originally Posted by Mantup

$399 and $120 for insurance

I am going to guess as you owe $18.5 it’s going to cost you $1k -$2k to get out of the lease.

You cannot afford car repairs so you will need some cheaper NEWER reliable car.

Problem is that your credit is already going to hell so you might not be able to get credit at a decent rate or at all. You really are looking at a cheap Kia, Hyundai etc.

Between a car that will run $200ish a month and $1k-$2k out of pocket to get out of 328x, you really are not making a ton of impact.

Tough spot.

You’d almost be better off not getting a car and renting weekend special car for $25-$50 a weekend saving on insurance as long as you have a credit card that covers rental car insurance.

[jmg]

Originally Posted by Mantup

$399 and $120 for insurance

Depending on how hard up you are, take it to carmax and get a quote. I'm guessing you are not going to get more than 16-18k. You never know. If you are in the red, it will probably only be a few thousand. You will make that up in a few months of payments and insurance. Drive your van around until you get your finances in check, or buy/lease a cheaper car. By the way, there are cards with an introductory 0% apr on transfers. If you are behind on a credit card(s), just transfer the highest interest rate over. Put your student loan on hold and pay off your highest % interest debt first.

[IK6SPEED]

Originally Posted by jmg

Depending on how hard up you are, take it to carmax and get a quote. I'm guessing you are not going to get more than 16-18k. You never know. If you are in the red, it will probably only be a few thousand. You will make that up in a few months of payments and insurance. Drive your van around until you get your finances in check, or buy/lease a cheaper car. By the way, there are cards with an introductory 0% apr on transfers. If you are behind on a credit card(s), just transfer the highest interest rate over. Put your student loan on hold and pay off your highest % interest debt first.

If he’s behind, his credit score is already being impacted and he might not even be qualified for new account, much less 0% Transfer rate.

[jmg]

Originally Posted by IK6SPEED

If he’s behind, his credit score is already being impacted and he might not even be qualified for new account, much less 0% Transfer rate.

He's gotta try now before it's too late. The sooner the better. I'd do it RIGHT NOW online and lock it in.

[IK6SPEED]

Originally Posted by jmg

He's gotta try now before it's too late. The sooner the better. I'd do it RIGHT NOW online and lock it in.

Which will probably kill his ability to qualify for a new car loan if he does that with behind payments and new accounts.

[jmg]

Originally Posted by IK6SPEED

Which will probably kill his ability to qualify for a new car loan if he does that with behind payments and new accounts.

A complete balance transfer will show as a payment on the account, which is way better than late payments. A new account with no late payments is less egregious than an outstanding balance with late payments. So long as he DOESN'T CLOSE THOSE OLD ACCOUNTS the credit score impact should be better than the alternative. The ultimate goal is to pay off the debt. High interest rates are the biggest obstacle.

[Kafkaesque328]

Originally Posted by Mantup

Yeah I get that. I don't actually drive the BMW during the week at all. I'm a HVAC Mechanic and the company provides me a take home van that I use for work. I was thinking about a e46 to wrench on and take out on the weekends, and if something happened it could sit until I could get it sorted without effecting anything.

Ah sorry, I missed that part. Hmm, this sort of changes things since its not your primary driver and you have a work car, so I don't know. You could get an e46 beater for very little money

https://losangeles.craigslist.org/se...uery=2003+325i

Say $5k or something. I guess its not a terrible idea since you aren't relying on it to get to and from work. Worse case scenario, if you are hit with a potential repair that is a few grand, just walk away, sell it for parts, call it a day.

Still, there are cheap, sort of fun more reliable cars that are far cheaper to fix that aren't a bad option. You could find a 2 generations back Mazda 3 with a 5 speed manual, the little hatchbacks. Those cars are a blast. The 2.3 4 bangers. Fun cars. Reliable, cheap parts and labor. Least then you have something you kind of enjoy driving vs. a total appliance car. If you are feeling braver, a Mk5 GTI with a manual is a blast. Would be a fun little weekend car. Not as pricey as an old E46 and slightly cheaper to fix.

Something like

https://losangeles.craigslist.org/sf...584800559.html