I need some advice

[jgprather]

I test drove a 135i (big mistake) the other day and loved it!

Now, I want one even more.

So here's the situation:
I will start getting salary from working in mine and my mother's business.

If I'm able to sell my current car, an 03 MINI Cooper, the monthly amount would be affordable for me. But I'd also be able to afford my first apartment (I'm in my early 20s). I've wanted to move out for a long time, but that comes with more costs (food, rent, cable, etc.)

I'm leaning toward the 1. I could get the car and then save up a little each month to move out in early 09. I HAVE to have a garage, and these add $100-$200 to the rent each month.

Also, this may sound lame, but I was recently diagnosed with cancer (8 yers following my bilateral lung transplant). I now know how life can change in a snap and how fragile it is. I want to be able to experience something like a sports car in my life!

So, will some of you who've lived longer than I have and made more financial decisions help me out?

[sndprssr]

You know, if you think you can hold out on moving out until early 09 and will be able to afford it, I say go for it. You only live once (to be a little cliche) just don't stretch the budget to the max. If all else fails, get your mom's opinion too. Sad as it may seem I have come to find out later on that my mom was usually right...

[tonytigerking]

If you can afford monthly payment on the car, while saving some money on the side to eventually move out, then go for it. Keep in mind, your rent or mortgage should not be more than 1/3 of your monthly income, unless you want to live without food, insurance, cloth, and any kind of entertainment, and still have a saving account.

[jgprather]

I'd also take delivery at the PDC. Maybe make my way to the Tail of the Dragon since it's close.

How likely would it be that I could sell my MINI for maybe $15,000? It's an 03 and has 65,000 miles on it. but in Great shape.

[HockeyGuy89]

Not sure how much you could get for it. Always depends on the buyer and how much they are willing to spend. But I'd agree with previous posters about how to go about it. I'm in somewhat of a similar situation. Lost everything after Katrina, so slowly getting back on my feet. Wanted to spoil myself, so 135i was my gift. Should be getting my own place next year sometime.

[Dan203]

Given your situation I think you need to decide which life experience is more important to you. If, god forbid, you should surcome to your illness what do you think you would regret more? Never having moved out of your parents house? Or never having owned a kick ass sports car? Whichever you think is the most important experience to you is what you should choose.

That being said, don't stretch yourself to thin. You don't want to beat the cancer only to end up living the rest of your life in debt.

Dan

[MastaMind]

Originally Posted by Dan203

Given your situation I think you need to decide which life experience is more important to you. If, god forbid, you should surcome to your illness what do you think you would regret more? Never having moved out of your parents house? Or never having owned a kick ass sports car? Whichever you think is the most important experience to you is what you should choose.

That being said, don't stretch yourself to thin. You don't want to beat the cancer only to end up living the rest of your life in debt.

Dan

+1

Moving out is something you can be proud of accomplishing. Getting the car is something you can enjoy. We all hope you'll be able to do both.

Also, chicks will dig you having your own place. "Hey baby, want to come back to my mom's house?" doesn't really have much appeal.

[tonytigerking]

Originally Posted by MastaMind

+1

Moving out is something you can be proud of accomplishing. Getting the car is something you can enjoy. We all hope you'll be able to do both.

Also, chicks will dig you having your own place. "Hey baby, want to come back to my mom's house?" doesn't really have much appeal.

What about "hey baby, wanna see if the backseat of this car is big enough for two?"

It probably isn't.

[MVF4Rrider]

Keep the MINI and save your money. You'll enjoy other aspects of life much more. Being a slave to a single object is no fun.

And the 135i is no sports car. Find a mint mid 80s 911 and you will have skipped all the lame cars inbetween. Will cost far less than a 135i. Or for the same money as a 135i, buy a near new M3. Two cars everyone should own (at some point) is a Porsche and a M car.