My bro is trying to sell his 2000 BMW 3 Series with 140,000+ miles on it and its in good condition, hes selling it because he wants to save up for a house, he has $4000 left on the car from the original loan, and just wants to get rid of car payments. i have a 2004 Hyundai elantra with $9448 left on it and 55606 Miles on it, in very good condition. My bro told me if i want to i can just by his car and take over payments, so the plan is to sell my car for $9000 get a loan for $5000 payoff his car and the rest of mines. my car payments will drop by about $100! i know the milage on his car is high but its a BEAMER! should i do it? keep in mind that im still young and im going to be car hoping like this for a while anyway...
2007-08-07 11:13:04 · 5 answers · asked by answeraway 1 in Cars & Transportation ➔ Buying & Selling
If he took care of the car, I would take the BMW.If he didn't take good care of the car then you looking at an expensive investment.It is your last statement that really makes me hesitate.You are young and a BMW may be too much to maintain,the Hyundai sounds more reliable.Trust me you seem like you are interested in cars so there will be cars in your future, if you can hook up with the right job,so you may want to wait on the BMW,in the meanwhile you should (and I cant believe I'm saying this)stay with the Hyundai.It makes good sense.
2007-08-07 11:30:46 · answer #1 · answered by DROB 3 · 1⤊ 0⤋
You also have to think about all the maintenance that will come with that car. A car with 140k on it is going to have alot of problems. The money you will save you will be putting back into that Beamer. My advice would be to be patient, wait and pay off the Hyundai, and get your own Beamer
2007-08-07 18:21:49 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The question is, how dependable has this car been for your brother? your insurance cost may jump and your maintenance will go up as BMW parts are pricey. You are also giving up 7 years of factory warranty on the power train. With these factors I would think hard about the transaction, even though your helping your brother.
2007-08-07 18:21:32 · answer #3 · answered by redd headd 7 · 1⤊ 0⤋
The Hyundia is going to last you alot longer! It will be cheaper to fix and, I'm sure you have a warranty on it. Say you did get your brothers and saved 100.00 for a few months. What if the Transmission goes out? Its going to cost a bundle to fix it. Keep the Hyundia.
2007-08-07 21:04:08 · answer #4 · answered by S C 1 · 1⤊ 2⤋
IMHO.If your brother needs the money to buy a house tell him to sell it to some else.Don't mix business with family.Hope it works out for you either way. Good luck.
2007-08-07 18:47:18 · answer #5 · answered by tim b 3 · 1⤊ 0⤋