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Re: Initial costs are high, after that not bad...l (archive)

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Posted by Sean K on March 06, 2001 at 09:46:51:

In Reply to: Initial costs are high, after that not bad...long posted by Dave on March 05, 2001 at 17:53:51:


I looked for a few years starting when I was 17. I started saving then too. Once I had enough money saved up I bought one. The way I figured, regardless of condition there will be about $1500 of stuff to fix up. Whether it's stuff that needs to be done or annoying stuff you want to get done that cost was always there. Every one of the 8-10 cars I looked at needed about $1500 in service in my estimation...and I new what all the new parts and labor was going to cost so the estimates were relatively accurate. I bought mine last summer for $12,500 and spent just under $1500 and that was everything I needed to do. Now i am constantly spending money on it, but nothing to fix it up, just obessesive improvements like UUC shift kit to get rid of the shifter wag, and new tires and stuff like that. So that is what I figure you should spend on it after you buy it. And I don't regret being broke for the whole first semester of college this year. It was well worth it.

Advice: try to find one with some subtle, reversible, tasteful mods on it. You know, stuff you would do eventually anyway, but this way you won't have to spend all the money on it. Mine came with 16" Mille Miglia wheels, Eibach Springs, Bilstein Sport shocks, Borla exhaust, and Evo 2 airbox. All those mods had receipts for being purchased about 4 months before I bought the car, so they were all brand new. It was a good deal for me

Dave,
Thanks for your advice! I just have a couple of questions for you. Do you pay for your own insurance and are you listed as the primary driver? Some of the other resposes I got told me that insurance for this car for guys around our age is killer. How much do you pay for 6-months?
Also, how much money do you make an hour; how many hours do you work a week; and how much do you make a year?
Thanks again for the advice and you time! -Sean K.

P.S.-Could you send me a picture of your M3? I want to see what $12500 gets


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