ADVICE: Switching to a cheaper car before medical school??

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DrDJIsland

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I recently purchased a wrecked 2013 C300 from an auction and have put approximately $10,700 into it in total to get it up to good condition. As I will be starting med school in a couple months, I have been considering selling the car for around $13,000 and purchasing my grandpa’s 2001 BMW with 116k miles, which has been meticulously cared for and always been serviced at the dealership, for $2,000. This way, I will have a handful of cash to get me set up for school (apartment, new laptop, etc...), a car to drive, and an emergency fund.

I don’t mind downgrading, and I don’t have a significant amount of money in reserve at the moment since most of it has gone into this car. I will be living 2 minutes from my school, but it’ll be just a couple hours from home and I plan on visiting on the weekends when possible.


I am also currently working a lot, and will be saving as much of that money as possible until I start school.

So, what are your thoughts?? Should I stick with my current car? Buy the BMW and use the extra money to start making payments on a newer used car when I get closer to rotations (IMO, buying a brand new car is never a wise financial decision)? Alternatives that I might not have considered? Thanks :)

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If the C300 has any frame damage, it'll never be as safe as it was prior to the accident.
 
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Do you do your own work and have facilities to do real work? This is the question.

I am a car person and have continued to own and personally maintain some much higher maintenance vehicles for fun during all of this but this is not possible if you don't have the resources to handle it yourself.

What platform is this? e46? e39? Dead nuts simple vehicles these days if you have diagnostic computer with INPA and half a brain (requisite for medicine so you are good.) There is an incredible amount of support for these chassis.

Personally, I would downgrade because it frees up cash and these cars are very reliable and drive far far better than newer numb cars. Gonna need more details though dude.

Edit: I also don't know how much you know about selling rebuilt title cars but I will be shocked if you get 13k for that car given many past experiences flipping cars like this.
 
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Do you do your own work and have facilities to do real work? This is the question.

I am a car person and have continued to own and personally maintain some much higher maintenance vehicles for fun during all of this but this is not possible if you don't have the resources to handle it yourself.

What platform is this? e46? e39? Dead nuts simple vehicles these days if you have diagnostic computer with INPA and half a brain (requisite for medicine so you are good.) There is an incredible amount of support for these chassis.

Personally, I would downgrade because it frees up cash and these cars are very reliable and drive far far better than newer numb cars. Gonna need more details though dude.

Edit: I also don't know how much you know about selling rebuilt title cars but I will be shocked if you get 13k for that car given many past experiences flipping cars like this.

Thanks for your reply, it is an E46. I guess I was mainly wondering how reliable it will be for weekend trips and later for traveling to rotation sites, but you seemed to have answered that. I agree that as long as it will be reliable for the most part, it would be worth it to have the extra cash to limit my debt.

I’ve had pretty good luck reselling salvaged cars, but you’re right, 13k might be ambitious. I’m hoping that having no current problems and 63k miles will be a bonus.

I do as much as I can in my own and am usually able to figure out most things through YouTube videos haha. I don’t have many resources to do major things on my own, especially with the frame pulling and painting that the c300 required, but my connections are pretty good when it comes to those things. The suspension work was no problem though.

If you have a couple suggestions for other cars under $6,000 that I might consider, I would appreciate it!
 
Thanks for your reply, it is an E46. I guess I was mainly wondering how reliable it will be for weekend trips and later for traveling to rotation sites, but you seemed to have answered that. I agree that as long as it will be reliable for the most part, it would be worth it to have the extra cash to limit my debt.

I’ve had pretty good luck reselling salvaged cars, but you’re right, 13k might be ambitious. I’m hoping that having no current problems and 63k miles will be a bonus.

I do as much as I can in my own and am usually able to figure out most things through YouTube videos haha. I don’t have many resources to do major things on my own, especially with the frame pulling and painting that the c300 required, but my connections are pretty good when it comes to those things. The suspension work was no problem though.

If you have a couple suggestions for other cars under $6,000 that I might consider, I would appreciate it!
I'm biased. There are plenty of appliances... I mean cars... that are better values and likely cheaper but the key here is that this e46 is family owned, low mileage, has all the maintenance records (right?!), and drives well. Bonus points to you if the car is manual as then you get rid of another failure point. I can't really recommend a model to you at that price point because under 6k is more about the individual car than a general market for each chassis. Hope that makes sense.

If you can do suspension work and cooling system work then you are good to go on that vehicle. Usually around 120k is when most enthusiasts decide to replace suspension components such as struts/shocks and myriad bushings on e46. Honestly, that's totally to taste as a tired suspension will not strand you and can be worked on when you want. Replacing front control arm bushings doesn't prevent you from getting to school for a test etc. It just means the car doesn't drive as tight as it should but is safe. There are numerous forums dedicated to e46 maintenance and you can rent suspension specific tools for free at most big box automotive stores if you don't already own things like pickle forks and bushing pullers. Very simple suspension compared to newer vehicles given the control arm setup and uncomplicated rear suspension.

The weakness of the non-M e46 is that the cooling system essentially just needs to be prophylactically replaced around 100-130k so you don't have to deal with a water pump failure, expansion tank failure or pulley/tensioner failure on the side of the road. Like I said, the car is stupid easy to maintain and you can use www.realoem.com to look up parts diagrams with specific part numbers for your exact build date and then search for the part on various websites. RealOEM is an amazing resource that other brands don't have and it is not to be taken for granted. The ability to buy 1 tiny part of something that is broken versus spending way more money to replace a big thing is something most brands don't allow for in their designs and parts inventory. The e46 is an incredibly well supported chassis both by BMW to this day and by aftermarket companies producing solid products.

As far as general advice, if you are going to a DO school, you will probably be driving a good bit more than your MD counterparts given the lack of a home hospital etc. A mileage-eating beater daily driver is a great thing to have given the luxury. On my longer rotations I always took my DD knowing that I was keeping boring miles off my nice car.

Should you choose to purchase the vehicle don't hesitate to shoot me a PM if you have questions about maintenance or whatever. I'll stop clogging the thread.
 
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How many miles does the C300 have? Unless its very low mileage, it might be hard getting $13000 from a 7 year old Benz especially given its accident history. But that's hella deal on the Beamer
 
Go with the Beamer. They’re reliable cars, and if you’re only driving it a few miles to school and the occasional weekend/break trip, I don’t see it not lasting you through school and possibly residency. You’ll be glad for the extra cash.
 
An old BMW is not a car I would ever own (especially in medical school). I can't speak to that specific model, but my experience with BMWs at large is that they are intrinsically designed to need unreasonable and obscene amounts of maintenance, regardless of how well they are maintained. Not something I would ever want to deal with in medical school.
 
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An old BMW is not a car I would ever own (especially in medical school). I can't speak to that specific model, but my experience with BMWs at large is that they are intrinsically designed to need unreasonable and obscene amounts of maintenance, regardless of how well they are maintained. Not something I would ever want to deal with in medical school.
Which models are you referring to and what do you actually know about vehicles other than tired tropes? This changes whether I say, as someone who did this professionally, that your statement is patently false or just a gross oversimplification. Either way, frankly older cars, as in pretty much anything pre-e90 are far more reliable and easier to service than new vehicles.. aside from a few dumpster fire models of which OP already stated isn't what he is considering buying.

Please list the unreasonable and obscene maintenance. I'll wait.
 
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Which models are you referring to and what do you actually know about vehicles other than tired tropes? This changes whether I say, as someone who did this professionally, that your statement is patently false or just a gross oversimplification. Either way, frankly older cars, as in pretty much anything pre-e90 are far more reliable and easier to service than new vehicles.. aside from a few dumpster fire models of which OP already stated isn't what he is considering buying.

Please list the unreasonable and obscene maintenance. I'll wait.

How about the fact that BMW designs their water pumps out of what I can only imagine are some legos, held together by Elmer's glue? Something that probably outlasts ownership of most cars in many other brands. Wastegates that fail prematurely. Turbos that go out before they should. BMWs are fun cars, but longevity is the last thing considered when they're designed. Google 'water pump failure' for BMW and it's literally designated a club to join on bimmer forums. Guess how many water pumps I've ever replaced in 15+ years of driving on other cars? It rhymes with hero if that helps you narrow it down.

My family (parents, siblings) have owned a few BMWs. Extended family has owned BMWs. Stuff breaks on them entirely too often, and the replacement parts are pricey. I almost bought a 3 series a while back until I was specifically told on a bimmer forum that it's almost a right of passage and source of pride that you do bi-monthly maintenance on some of these cars to keep them on the road. If you want to fight me on it, you're wasting your time because I don't really care, but anyone can feel free to google BMW reliability and see for themselves what a nightmare these cars can be. Not saying all models, because I won't pretend to know the ins and outs of every car ever manufactured by BMW, but it's enough that it's a fair association with the brand. Frequent, expensive repairs on a BMW being a tired trope? I appreciate the laugh this morning. Just giving my 2c to OP, ya'll are welcome to get defensive over a car brand if you'd like. Good luck OP
 
How about the fact that BMW designs their water pumps out of what I can only imagine are some legos, held together by Elmer's glue? Something that probably outlasts ownership of most cars in many other brands. Wastegates that fail prematurely. Turbos that go out before they should. BMWs are fun cars, but longevity is the last thing considered when they're designed. Google 'water pump failure' for BMW and it's literally designated a club to join on bimmer forums. Guess how many water pumps I've ever replaced in 15+ years of driving on other cars? It rhymes with hero if that helps you narrow it down.

My family (parents, siblings) have owned a few BMWs. Extended family has owned BMWs. Stuff breaks on them entirely too often, and the replacement parts are pricey. I almost bought a 3 series a while back until I was specifically told on a bimmer forum that it's almost a right of passage and source of pride that you do bi-monthly maintenance on some of these cars to keep them on the road. If you want to fight me on it, you're wasting your time because I don't really care, but anyone can feel free to google BMW reliability and see for themselves what a nightmare these cars can be. Not saying all models, because I won't pretend to know the ins and outs of every car ever manufactured by BMW, but it's enough that it's a fair association with the brand. Frequent, expensive repairs on a BMW being a tired trope? I appreciate the laugh this morning. Just giving my 2c to OP, ya'll are welcome to get defensive over a car brand if you'd like. Good luck OP
I think your perspective is skewed by bimmerforum lore and memes. The quality of posts on that website has ebbed and flowed greatly and owner demographic has changed rapidly to teenagers and wannabe tuners so you have a lot unreliable info on there now. I am a long, long time member there and personally own and maintain several models with legit issues like vanos/rod bearings/subframe integrity etc. So yeah, I know about a particular part of a car being turned into legend. And great, we all know e9x 335i issues. Next tell me that the 8 series is a reason not to own any BMW lol.

This is an individual who is perfectly capable and willing to spend less than half a day replacing a water pump, thermostat, expansion tank, and some belt tensioners ONE time in the likely length of ownership of said vehicle. Hell, he doesn't even need to replace anything but the water pump and expansion tank if he doesn't want to. We also don't know if it was already done by the PO. This isn't going to strand OP. 80k miles is the conservative estimate for a cooling system refresh. That's every 4 years if OP drives 20k miles per year. 1 half day every 4 years worst estimate of OPs time is certainly not frequent when you are honest with yourself.

You take advice from some random poster on bimmerforums likely just trying to scare kids away from the platform so they don't make an uneducated decision and feel better about their "cool" vanilla 3 series. So why not take input from me, an actual accomplished and professional mechanic? I'm not fighting you on anything other than that you are talking about something you don't actually know anything about other than something like your uncle had a car (we don't know anything about him or the car in question) and someone online told you "bro, like, you gotta actually like change the oil more than every 18k miles and like you know it costs $35 more dollars for a window switch than my Hyundai."

The replacement parts are definitely not pricey and no one should be buying parts from or getting their car serviced at a dealership unless they are old and rich in 2020. Hence, the use of realoem plus the myriad parts sources available at the click of a button.

Finally, I'm not arguing for people to go out and buy a 20 year old BMW. I am suggesting that OP would be a good candidate to take advantage of this situation given his particular abilities. I arguing that people shouldn't talk about things they actually have no experience with other than family anecdata and having 40 forum posts on bimmerforums lol.

Go drive and love your Japanese car. It's no skin off my nose and I truly hope you enjoy it! I'm out.

Edit: and just for fun I went on FCP Euro, one of the more expensive parts websites because they feature a true lifetime unlimited warranty on all parts they sell (ship your used oil back to them for free replacement no kidding) and searched e46 M3 waterpump and thermostat parts kit and it was ~250 bucks and that is paying the M tax on a more expensive chassis and for a legit lifetime warranty. So if one sourced the parts from big box auto store they would be similar price to any other vehicle these days. That has been my experience over 10+ years doing this for clients of various makes and models as well.
 
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Stop being a wimp and buy a Ford raptor
 
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If I were you I'd just get a used low mileage (sub 30k) Honda Civic, Toyota Corolla/Camry.

Euro cars are expensive to maintain and high mileage Euro cars will break down at some point. I'd never want to deal with that during medical school when I'm already stressed with work.

I will be in residency coming this July and I'm selling my high mileage Euro car for cheap, reliable daily beater.
 
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It sounds like you have experience working on cars so you should be fine with the BMW. A well maintained 116k car will last through med school. Just spend some time getting all of the more time consuming maintenance items done before school starts. People are afraid when they see the year 2001 and brand BMW, but for perspective, I see people financing 2010-2015 cars with over 100k miles on them for $10-20k which are just about as likely to break down since they have comparable mileage. And a $2000 range honda/toyota/etc. will most likely be in much worse shape than the BMW you're considering.

If you sell the C300 for your goal price then its definitely worth the switch. Its nice to be able to buy the desk, laptop, chair, etc. that you want to study the most efficiently.

Edit: Also, if your school has recorded lectures/no mandatory attendance then you wont be driving much the first 2 years. You can always upgrade before 3rd year.
 
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If I were you I'd just get a used low mileage (sub 30k) Honda Civic, Toyota Corolla/Camry.

Euro cars are expensive to maintain and high mileage Euro cars will break down at some point. I'd never want to deal with that during medical school when I'm already stressed with work.

I will be in residency coming this July and I'm selling my high mileage Euro car for cheap, reliable daily beater.

Smart person here.
 
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Bruh. Ditch the C300.

Go to carmax and pick up any Corolla, Camry, or cheap Honda accord. Most of these cars have the features you need and can cop 2010+ models for ~$13-14K with <50,000 miles which is NOTHING for these cars.
 
Bruh. Ditch the C300.

Go to carmax and pick up any Corolla, Camry, or cheap Honda accord. Most of these cars have the features you need and can cop 2010+ models for ~$13-14K with <50,000 miles which is NOTHING for these cars.

Well you probably won't get the best deal at carmax and those cars from what I have heard are sometimes beaten to the ground since they are rentals. Also, since carmax has so much overhead, they usually will sell cars for higher than average.

But I do agree. Get a heap corolla camry accord or civic. They will run forever.
 
Bruh. Ditch the C300.

Go to carmax and pick up any Corolla, Camry, or cheap Honda accord. Most of these cars have the features you need and can cop 2010+ models for ~$13-14K with <50,000 miles which is NOTHING for these cars.

At best you would be paying around $13-14k out the door for a 2010+ civic or camry at carmax that are most likely over 100k miles. Not worth it when you can just buy something similar for $5k privately through craigslist, offerup, facebook market, etc. I recently helped a classmate find an early 2000s hyundai with 80kish miles for under $2000 that gets 30+ mpg and my current car costed me $2500.
 
^ That's what I would do. 5ish grand on CL will get you a nice 2006-2011 era civic. Minimal maintenance and you can keep those things on the road for hundreds of thousands of miles.
 
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I think your perspective is skewed by bimmerforum lore and memes. The quality of posts on that website has ebbed and flowed greatly and owner demographic has changed rapidly to teenagers and wannabe tuners so you have a lot unreliable info on there now. I am a long, long time member there and personally own and maintain several models with legit issues like vanos/rod bearings/subframe integrity etc. So yeah, I know about a particular part of a car being turned into legend. And great, we all know e9x 335i issues. Next tell me that the 8 series is a reason not to own any BMW lol.

This is an individual who is perfectly capable and willing to spend less than half a day replacing a water pump, thermostat, expansion tank, and some belt tensioners ONE time in the likely length of ownership of said vehicle. Hell, he doesn't even need to replace anything but the water pump and expansion tank if he doesn't want to. We also don't know if it was already done by the PO. This isn't going to strand OP. 80k miles is the conservative estimate for a cooling system refresh. That's every 4 years if OP drives 20k miles per year. 1 half day every 4 years worst estimate of OPs time is certainly not frequent when you are honest with yourself.

You take advice from some random poster on bimmerforums likely just trying to scare kids away from the platform so they don't make an uneducated decision and feel better about their "cool" vanilla 3 series. So why not take input from me, an actual accomplished and professional mechanic? I'm not fighting you on anything other than that you are talking about something you don't actually know anything about other than something like your uncle had a car (we don't know anything about him or the car in question) and someone online told you "bro, like, you gotta actually like change the oil more than every 18k miles and like you know it costs $35 more dollars for a window switch than my Hyundai."

The replacement parts are definitely not pricey and no one should be buying parts from or getting their car serviced at a dealership unless they are old and rich in 2020. Hence, the use of realoem plus the myriad parts sources available at the click of a button.

Finally, I'm not arguing for people to go out and buy a 20 year old BMW. I am suggesting that OP would be a good candidate to take advantage of this situation given his particular abilities. I arguing that people shouldn't talk about things they actually have no experience with other than family anecdata and having 40 forum posts on bimmerforums lol.

Go drive and love your Japanese car. It's no skin off my nose and I truly hope you enjoy it! I'm out.

Edit: and just for fun I went on FCP Euro, one of the more expensive parts websites because they feature a true lifetime unlimited warranty on all parts they sell (ship your used oil back to them for free replacement no kidding) and searched e46 M3 waterpump and thermostat parts kit and it was ~250 bucks and that is paying the M tax on a more expensive chassis and for a legit lifetime warranty. So if one sourced the parts from big box auto store they would be similar price to any other vehicle these days. That has been my experience over 10+ years doing this for clients of various makes and models as well.
I'll preface this post by saying that although I have a passion for cars and motorcycles, my mechanical knowledge of them is very limited. Having said that, I've watched "everything automotive" for the majority of my life and I have not once heard BMW being considered a reliable brand, at least not in the same category as Japanese car makers. Their engineering is top notch, sure, but the maintenance that goes along with that is supposedly killer. What's the disconnect here? Again, I am not speaking personally, but this is what I've heard my entire life growing up from people who have been involved in this space professionally.
 
fwiw, i had a 2000 honda accord that had >300k miles on it and I never did anything beyond oil changes and tires. I had it parked outside in Chicago winters for >1 week and it would turn on with a single turn. If you are concerned about reliability, Toyotas/Hondas consistently top the rankings for reliability.
 
1. What car has cheaper insurance?
2. You are not going to have a lot of free time in medical school, do you want to spend it occasionally wrenching on a 20 year old BMW? If so go ahead with the bimmer. BMWs are not more unreliable, the just need more preventative maintenance and parts can be expensive if you dont have a salvage yard near.
3. You are unlikely to get 13K for a rebuilt title C300, more likely 5-7K . At that point the difference becomes less and less enticing to swap out for a 12 year older car.
I would just keep the C300.
 
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