About to get an M3

[biiqzbeemer]

Whats up fellas im in the process of getting one soon... I had a 2005 imola red m3 but it was hooked up from the previous owner, it had 19' velano rims coated in red it was krazy but it had one bad tire.. it kept getting flat.. the dealership put air in it in before the they moved it out of the showroom then I took it for a test drive.. it was too good but there was something wrong with the left front tire.. and it turns out after i bought it the front tire had lost thread in the inner part.. so that tire was bad so i took it back to them and they said that they would only replace that wheel but not the other wheels they wouldnt.. so then my brother was with me at the time when we got it being that we werent the only ones interested in it... there was two other doods wanting the same vehicle on the same day.. lucky i had called earlier in the day to schedule it so it worked out good... aurite so we were at the dealer and he said that he would only change the front tire then we said aurite but then my brother asked if it had powertrain warranty and the guy said no.. so i was goin nuts i was like well what if the trans goes and i have to spend 4k on that.. naa so i jumped in a 525i and been in it ever since like a year and a half.. now since im about 15k rolled over from the m3 i owe the bank a ishload of money.. it was a rookie mistake but alot of stuff happend during my life that lead me to make my choice about getting an m3 again and paying 400 dollars less a month due to my rollover and taking a repo.. I prefer to make that choice even tho my 5 series is lookin aight but i love an m3 so its all good.. I would let the bank take my car if i can build up my credit again.. but yea thats my story, apologies if it was a long story

[Ace M3]

Ummm, what?

[mkaresh]

People on ludes should not drive?

[smaglik]

welcome, i think? i didnt get past the first line.

[GeorgeF31]

1. Welcome.
2. Stop making posts from your mobile phone.
3. If it wasn't your mobile phone, learn to use the keys marked "Shift" and "Enter".
4. Read this: http://www.bartleby.com/141/ Take it to heart.
5. Get Firefox and correct the stuff that gets red underlined when you type or, alternatively, learn to spell (which would couple nicely with #4).

[biiqzbeemer]

Yeah i know i typed kind of confusing last night but i was up in the sky if you know wut i mean. I cant even get this car since i would have to Repo this and suffer any consequences such as a lawsuit from bmw financial as i am currently under them at the moment. My brother said that if i dont make the payments they will repo it and pick it up but he says they wont come after the difference because it was their choice to lend me the money in full in the first place but i did sign the friggin binding contract and those rules they have.. problem is they will want the difference. My question to you is do you think it is worth it to repo the car but have another loan on ur credit before you choose to repo it and build up ur credit after they take your car away?

[BKarktic328i]

The only answer here is to work your arse off to get right side up in the car that your currently in. Only then can you even consider selling or trading for a different car....otherwise you will have that negative/overage following you around for years.

Sounds like some basic economic education is needed... I don't mean to sound harsh, but if your actually considering letting BMW NA repo your car so your can get out of the 5 and into an M (no difference in whether its before you take out another loan or not)....well....I MUST be missing something!


Good luck either way!

[mkaresh]

The only answer here is to work your arse off to get right side up in the car that you're currently in.

You're clearly so twentieth-century. In this century people are walking away from houses. Well, except for idiots like me who put 40% down to get a comfortable payment.

Simply walking away from a car is bush league.

[smaglik]

You're clearly so twentieth-century. In this century people are walking away from houses. Well, except for idiots like me who put 40% down to get a comfortable payment.

Simply walking away from a car is bush league.

so true...

[streetHawk]

You're clearly so twentieth-century. In this century people are walking away from houses. Well, except for idiots like me who put 40% down to get a comfortable payment.

Simply walking away from a car is bush league.

+1

[ilya1585]

Ummmm...If BMW repo's your car they will be selling it at the auction. Following the auction, BMW will bill you for the deficiency balance between what you owed and what the car sold for. If you ignore that request, they will take you to court. I didnt really understand what you wrote earlier about the balance and such, but a repo is going to shit on your credit for the next 7 years. After a repo no financial establishment will give you money to purchase anything, unless you come with a minimum or 60-70% out of pocket.

[Faymester]

I'm a bit lost, but I'm sure that punctuation would have helped.

Either way, it sounds like you possibly bought more car than you can afford; however, as others have mentioned, repo should be avoided if at all possible due to the credit issues that will follow.

[AngryWhopper]

wtf did OP say...he should be banned for such a post

[BKarktic328i]

You're clearly so twentieth-century.

Your right, what could I have been thinking..................

[adonnan]

I am just amazed I was actually able to read the entire first post.

[ryan86242]

How lazy and irresponsible you are has bought you internet fame. Congratulations!

http://jalopnik.com/5403285/bmw-owne...-can-buy-an-m3

Also, everyone bear in mine that people like this that want BMW to eat the cost of their mistakes is a contributing factor to high interest rates when financing through BMWNA.

[keystroke]

How lazy and irresponsible you are has bought you internet fame. Congratulations!

http://jalopnik.com/5403285/bmw-owne...-can-buy-an-m3

Also, everyone bear in mine that people like this that want BMW to eat the cost of their mistakes is a contributing factor to high interest rates when financing through BMWNA.

haha i read this and just had to see it myself

[parabellum]

OP DIAF.

Your "I'll just default on this loan because its easy and I want another toy" mentality is the primary reason our country is f***ked right now.

You can everyone like you should be kicked in the junk repeatedly.

[fmcfad01]

Haha, the interwebs are laughing at you. Love me some Jalopnik.

[ecrouse]

Well, this will be the most traffic this subforum has seen in many a day

OP, I hope they ding your credit for even posting this.

[RangerGress]

OP DIAF.

Your "I'll just default on this loan because its easy and I want another toy" mentality is the primary reason our country is f***ked right now.

People like the OP are only half of the problem. The other half of the problem is the people who are sympathetic with the OP's "plight" and want to use your money to protect him from the consequences of his decisions.

[BKarktic328i]

The other half of the problem is the people who are sympathetic with the OP's "plight" and want to use your money to protect him from the consequences of his decisions.

You forgot to mention that they are buying votes in the process!

[parabellum]

People like the OP are only half of the problem. The other half of the problem is the people who are sympathetic with the OP's "plight" and want to use your money to protect him from the consequences of his decisions.

Absolutely.

[30kmillionaire]

Hello, gentlemen. I am in the process of purchasing a BMW M3 in the near future. I previously owned a 2005 model painted Imola red, however (??), it had quite a few upgrades installed by the car’s previous owner. For example, it had 19 foot (!!) diameter Velano-brand wheels coated in red. I considered its looks to be quite crazy. It did, however, have one bad tire that kept going flat. Cognizant of this, the dealership filled the tire with air before they moved it out of the showroom on to the lot. The vehicle was simply too good, but I reiterate, there was something wrong with that left tire.

After I purchased the vehicle, I learned that the tire had lost thread on the inner portion, explaining its inability to hold air. I took the vehicle back to the dealership to register a complaint, and the dealership’s representatives agreed to replace the wheel with the bad tire, but not the remaining wheels.

As an aside, at the time I purchased the 2005 model, my brother was with me at the dealership. We learned that two other men were interested in purchasing the vehicle on the same day I bought it, but fortuitously, my scheduling an appointment with the dealership to test-drive the vehicle allowed me to beat the other two to the purchase. I’m not sure what the purpose of this aside is other than to suggest that the popularity of this particular car might explain why the dealership was reluctant to offer the more significant concession of replacing all four wheels.

While negotiating with the dealership’s representatives about the wheels, my brother asked if the vehicle had a powertrain warranty. The representative confirmed that it did not. Although I likely should have been concerned about the warranty issue before I actually purchased the car, learning of this after the purchase caused me to become very concerned about the potential cost that a high-dollar repair such as a transmission failure might cause. Given this concern, I agreed to purchase a newer 525i model.

In setting up the financing for the 525i purchase, I agreed to roll $15,000 of debt from the M3 loan into the loan for the 525i. Because of this, a year-and-a-half after the purchase, I still owe the financing company quite a bit of money. In hindsight, this was not a wise choice, and I blame my inexperience in purchasing cars for making such a mistake.

A lot of life-altering events over the past year-and-a-half have caused me to reflect on the choices I have made, and I have concluded that I want to own a M3 once again. No doubt part of this decision is motivated by my desire to reduce my current exorbitant monthly car payment by up to $400, and I am considering allowing the 525i to be repossessed by the financing company to facilitate my wish of getting another M3. My desire to get another M3 is so strong that I would allow my 525i to be repossessed even though it still looks to be in tip-top shape. My plan to get an M3 would be dependent on being able to build my credit up after the repossession.

That’s my story of my love of M3’s. I hope I did not bore you with its length.

For the sake of humanity, biiqzbeemer, I hope you die in a single-car crash before you have a chance to spawn.

[GeorgeF31]

How lazy and irresponsible you are has bought you internet fame. Congratulations!

http://jalopnik.com/5403285/bmw-owne...-can-buy-an-m3

Hey, this doesn't count as my 15 minutes, too, does it?