topic Re: Honda or BMW in Auto Loans

Honda or BMW

Anonymous — Mon, 23 Apr 2018 07:01:59 GMT

I have a 2007 BMW 530xi with 120K miles and $4500 left. However, it’s time to part ways (AC blower is broke and pulley need to be replaced and I think the transmission is slipping). The Honda dealership offered me 2500. 😒😔

Honda’s are usually $18K (usually less than 40K miles) and a used BMW $25-$28(usually around 50-60K miles).

My FICO is 730

I plan on putting down 5K

Should I go with a 2015 Honda Accord Sport or 2015 BMW X3?

Re: Honda or BMW

marty56 — Mon, 23 Apr 2018 22:30:02 GMT

IMHO I would find it hard to go from a BMW to a Honda. Just get the one you really want.

Re: Honda or BMW

Anonymous — Mon, 23 Apr 2018 22:31:50 GMT

Neither get a Volvo used Volvos that are 2-3 years old are very affordable and classier than a honda IMO.

Re: Honda or BMW

Anonymous — Mon, 23 Apr 2018 22:33:56 GMT

A smart financial decision IMO would be the Honda. More reliable and cheaper to maintain. BUT if you can afford the BMW and the expensive maintenance, go for it.

Re: Honda or BMW

Anonymous — Mon, 23 Apr 2018 22:35:25 GMT

I personally prefer BMW. I’ve had an X5 and now have a 428i. I buy Cert Pre-Owned and typically get .99% - 2.99% (currently .98%) financing thru BMW Financial with zero down. But go with whatever works for you.

Re: Honda or BMW

Anonymous — Tue, 24 Apr 2018 13:38:28 GMT

I have had BMW’s in my life. I have Honda’s in my life. Smart money says Honda.

I currently own a Toyota Highlander and Lexus LS460. My money is on Toyota/Lexus!

Re: Honda or BMW

Anonymous — Tue, 24 Apr 2018 13:48:29 GMT

@Anonymous wrote:
I have had BMW’s in my life. I have Honda’s in my life. Smart money says Honda.

I currently own a Toyota Highlander and Lexus LS460. My money is on Toyota/Lexus!

Also great cars to maintain and really nice as well!!

Re: Honda or BMW

Anonymous — Tue, 24 Apr 2018 14:23:10 GMT

Thank you all for the suggestions!

I'm going to be fiancially smart and go with the Honda. The maintience and the car payment & insurance in my budget.

My next year goal which is to pay off or down my 65K student loan so the Honda is definitely a smarter choice.

Re: Honda or BMW

Anonymous — Wed, 25 Apr 2018 11:12:20 GMT

@Anonymous wrote:
Thank you all for the suggestions!
I'm going to be fiancially smart and go with the Honda. The maintience and the car payment & insurance in my budget.
My next year goal which is to pay off or down my 65K student loan so the Honda is definitely a smarter choice.

Great choice!!

Re: Honda or BMW

Anonymous — Fri, 27 Apr 2018 05:34:54 GMT

Great choice made on a depreciating asset.

Re: Honda or BMW

Anonymous — Fri, 27 Apr 2018 19:42:48 GMT

You should have saved yourself a boat load of money and just fixed the BMW..

They are quite easy to work on..

Just youtube the jobs to be performed, get on bimmerforums..

Serpentine pulleys are like $15 each and is easier than doing breaks.. 15 minute job..

AC blower might be a bit more work accessing but I'm sure you could be job done for $100..

The firat thing you should have done is diagnosed any possible transmission issues. A LOT of the time BMWs with autos throw a code and put the trans in a failsafe mode or alters the adaptations to a lesser extent to protect the trans..

A weak battery can cause trans symptoms, weak alternator, bad MAF, bad sensors of all sorts..

You just get the cables to connect your laptop on ebay for $15 and the factory diagnostic software is FREE..

That car is exactly the kind of car I buy!

BMWs that need some TLC are my favorite.. Easy to get em around 40% under KBB, put $500 into them, and then you can drive them for 3 years 40k miles and still not be "upside down" in them..

Pro tip: buy the rare ones with factory sport accesories and then your bumpers are worth more than the standard car once you really bottom in depreciation..

It boggles my mind how much money people lose on cars..

BUT..

This is why I don't have any credit..

Re: Honda or BMW

Anonymous — Fri, 27 Apr 2018 19:49:32 GMT

Well, hopefully the OP can fix it if he doesnt want any car payments.

I have car payments and I'm trying to hold on to my 2006 Nissal Altima SE-R for as long as i can. Bought at 35k miles in 2007 and still going like new with 188k+ miles.

Re: Honda or BMW

silvius — Thu, 03 May 2018 05:27:48 GMT

Good call on going with the Honda. Sure the BMWs are more luxurious but the quality is better on a Honda/Toyota. I've owned all three. Check the consumer Reports info if you want reliable data.

BMWs are fine..... and I agree, if you can fix it or find a reliable, honest mechanic that can do it for a reasonable price, that is another possible route.

Re: Honda or BMW

Anonymous — Fri, 04 May 2018 22:42:43 GMT

@Anonymous wrote:
You should have saved yourself a boat load of money and just fixed the BMW..
They are quite easy to work on..

Just youtube the jobs to be performed, get on bimmerforums..
Serpentine pulleys are like $15 each and is easier than doing breaks.. 15 minute job..
AC blower might be a bit more work accessing but I'm sure you could be job done for $100..

The firat thing you should have done is diagnosed any possible transmission issues. A LOT of the time BMWs with autos throw a code and put the trans in a failsafe mode or alters the adaptations to a lesser extent to protect the trans..
A weak battery can cause trans symptoms, weak alternator, bad MAF, bad sensors of all sorts..

You just get the cables to connect your laptop on ebay for $15 and the factory diagnostic software is FREE..

That car is exactly the kind of car I buy!
BMWs that need some TLC are my favorite.. Easy to get em around 40% under KBB, put $500 into them, and then you can drive them for 3 years 40k miles and still not be "upside down" in them..

Pro tip: buy the rare ones with factory sport accesories and then your bumpers are worth more than the standard car once you really bottom in depreciation..

It boggles my mind how much money people lose on cars..

BUT..
This is why I don't have any credit..

I rather get rid of it my transmission is slipping and I don't want to waste money looking for solutions. There transmission would randomly fault and I'd pull over and restart the car and the code would go away. I put in a new battery and starter last year and the scanner says nothing wrong.

Re: Honda or BMW

Anonymous — Tue, 08 May 2018 21:59:33 GMT

I went to BMW today for a full dignostics and the transmission isn’t slipping however the mechantronic is leaking (quoted $1500 in parts), oil valve gasket, oil pan gasket needs to be replaced, Tensioner belt and the A/C heater blower.

While waiting of course I went on a few test drives and was talked into getting a lease because of the miles I do a year is less than 10K. I can’t see myself play 500-600 a month for 3 years excluding insurance. And its would defeat my overal purpose to pay off my student loans! Honda here I come !

Re: Honda or BMW

nykos5000 — Thu, 10 May 2018 03:14:18 GMT

The miles isn

@Anonymous wrote:
I went to BMW today for a full dignostics and the transmission isn’t slipping however the mechantronic is leaking (quoted $1500 in parts), oil valve gasket, oil pan gasket needs to be replaced, Tensioner belt and the A/C heater blower.

While waiting of course I went on a few test drives and was talked into getting a lease because of the miles I do a year is less than 10K. I can’t see myself play 500-600 a month for 3 years excluding insurance. And its would defeat my overal purpose to pay off my student loans! Honda here I come !

Mechantronic?? Your first mistake is going to the stealership for those type of maintenance. WIth 120k miles, you could technically find a indy shop who probably would fix that for half the costs...depends on where you live. You definitely have a solid 60k or more to go before I would say the car is done. Honda's are always a good choice and easier to fix than any German car and the Accord is prob the best choice in its class but it would be a hard call to go from a 5 series to an Accord. It's the little details that you get in a premium car that you miss out on a Honda. Although, I would say the 2018 Accord is pretty tricked out and beats the Acura TLX any day! As well, if you lease, you are never building any equity so it's kind of like throwing money away but if you're like me and love a new car often then go for it!

Re: Honda or BMW

Anonymous — Thu, 10 May 2018 13:54:13 GMT

Agree with above, check your local mechanics first.

Best to pay around $800 to fi x it and get more miles out of the car. In the mean time, you could save up some $$ every month for a downpayment a couple of years from now.