Mango, I'll second everything others have said here.
Was your BMW expensive to maintain, did you do the work yourself? Some of these cars are very reliable, I have a 2000 'S' and looking at the service records from
the previous guy it was really no more then most other cars. I mean he paid more for the basic services but when a car takes 9 quarts of synthetic oil it adds
up.
I tend to buy oil when they have the 5 quart specials with filter for $30 so for $65 I get two filters and enough oil for one change. One of the reasons folks change the oil that often is to check the filter for medal filings from possible IMS failure.
Regarding the IMS problem, do some reading and assess for yourself. Some think it is as high as 10-20%, others like me think it probably is <2%. I'll be replacing mine this fall but only because I really enjoying working on the car and doing the clutch, IMS, and RMS would be a great experience, also curiosity to see the IMS in my car drives me too.
I really have to strongly second the whole 401k thing, you'll be 51 like me before you know it and will look back and be so happy you saved.
Here are the costs for basic maintenance and repairs I did. I also did a bunch more stuff that completely was not needed. I got my car last fall with 53k miles on it:
Needed:
- Oil change: $65
- Odometer bulb: $5
- 4 18inch Fuzion ZRi tires from Tirerack: $560 + $60 shipping + $60 mounting
- Front brake pads and rotors: $30 (Mintex) + $145 (Balo Coated)
- Clean radiators: $0
- Rear trunk shocks: $26 (Tuff)
- Fasteners for ragtop latch: $35 (Had someone else do this)
Preventative:
- Serpentine belt: $30 (Contitech)
- Spark plugs: $55 (Bosch)
- Trans fluid: $40 (Red Line)
- Fuel filter: $30 (Mann)
- Flush brakes and clutch: $15 (Super Blue)
- Fuel additive: $5
You can see everything here can be done in your driveway or garage, it saves a bunch. Whatever you end up doing get a PPI. Also look on this forum for members selling, I know if I buy again it would likely be from a member. Good luck!
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