Re: Reliability and buying old vs. new

["Tarun Kundhi" <julie-tarun@xxxxxxxxx>]

>I agree with Henri:  the best policy is to buy new, get best years out of
car
>and also, by knowing previous owner (yourself!) know exactly what you're
>getting into as car ages...

The best policy is not the same for everyone.  While Tom's statement about
car knowledge is true, it is also the most expensive option.  Buying a used
vehicle has less to do with luck and more to do with education. Many of the
statements made about purchasing a 100k mile car were accurate.  But an
equal amount were inaccurate or irrelevant.

When buying a used car you need to know its condition and maintenance
history.  I would never buy a high mileage used car that didn't come with
service records.  Also, if you aren't qualified to assess the condition, pay
a pro to do it for you.  Pre-purchase inspections cost less than $100.
These two greatest factors in determining if the car will be a money pit.

Maintenance cost for my cars is listed below.  Keep in mind that I try to do
90% of it myself, including all oil changes, inspection I & II, brakes,
etc..  Only stuff I can't do in a driveway is done at a shop. Note,
according to Runzeimer International a new midsize car (1999 model) averaged
.44/mile to own and operate.

1984 GTI
1 year, 10k miles, $100
sold, total cost of ownership .19/mile

1989 325i
8 years, 150k, $3000
sold, total cost of ownership .22/mile

1995 525i
4 years, 70k miles, $2400
estimated cost of ownership .27/mile

1995 318ti
6 months, 6k miles, $50
estimated cost of ownership .23/mile

1991 M3
3 1/2 years, 40k miles, $2000 (plus a 2.5 motor but that isn't maintenance,
neither are the track tires, track pads, etc...)
estimate cost of ownership, I don't want to know

Costs for brakes, tires, oil changes, inspection services will be the same
for an old car or new car.  Its the items like exhaust, wheel bearings and
suspension that drive up ownership costs.  IIRC, this tread got started
because someone asked about the maintenance cost on a pre 93 325is.

92 - 93 325 are very reliable and no more expensive to maintain than a Honda
or VW.  In my area (MD) the shop rates for these makes is in the $70/hour
range.  Parts cost about the same also.

Items to look out for: water pump (if it hasn't been replaced since 96, do
it immediately old pumps had plastic parts that fail), shocks, control arms,
and various suspension bushings, wheel bearings and possibly the clutch.  A
properly maintained BMW of this vintage should last 200k miles without
requiring any major investment.

t.

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