Hi my husband bought a used 2006 BMW 325i (NOT from a Certified BMW dealer because my husband DID NOT get a CarFaxabout the car) we had problem with oil leak about 2 1/2 years ago, had it fixed costing $800.00 or so) , we thought. Now it is still leaking. We have been given a repair quote of $ 1500.00 to $2000.00. This is a big chunck of money for us . Our problem is we are still financing the car and it has high mileage on it. It is our only reliable mode of transportation. My question is this: 1. We were adviced to possibly get a rebuilt engine, is this advisable?or 2. have it fixed? I want to return the car and get a less expensive car and trade the BMW in and have it refinanced,but will that hurt our credit,since we have planning to purchase a home this summer?What do you think? I value your advice. Thank you.
It woud all depend on what you owe on your 3 series. I personally would try and trade it in for a more reliable and "newer"mode of transportation. If you are not in the dealing with banks stage in you home buying process it should hurt as long as you are not financing a HUGE amount (you said "get a less expensive car") Any BMW out of warrantee is going to cost you! I LOVE BMWs and i would never own one not back but factory war.
* sorry should NOT hurt you* ^^^ if you have not already applied for a home mortgage.
Thank you, we were told to fix the car and try to trade it in. We have NOT yet processed paper work for a home. We still owe $15,000 on our bad investment. Do you know if we can trade in our car as is or do we need to fix it? I dont want us to me scammed,but I beleive after purchasing the 2006 BMW 325I, we have already been thru alot. Thanks again for your input.
How bad is it leaking? If it's a minor leak, I'd keep driving it like & check the oil frequently. I also would not trade it in until after you're approved for a mortgage. Unless the car dealer is willing to buy the BMW outright you're still going to be paying for it plus your new car. The amount you still owe on the BMW will be added onto the financing of the new car. Even if you owe less than what the BMW is worth on a trade-in. I've been down that road once. HTH. - Jim
Hi Jim, Thanks my family truly appreciates your feedback. There many dishonest people in the world and unless you have been through it, the advices we have been given can make or break us. Thanks again for the reply. I dont know what the trade in value of our 2006 BMW but will research it cuz we have alot of mileage on it. We were recently told the heads is the problem that is why we are leaking. We have been given a quote of between 1500.00 to 2500.00 to fix it.We no longer have warranty on the car. Do you know any honest BMW mechanics in the Bellflower area. We are close to the city Lakewood as well. Take Care and God Bless.
You're welcome. I'm actually in NJ. The closest BMW dealer to me is Holman BMW in Mount Laurel (formerly DiSimone). I've never dealt with them but they have an excellent reputation. My Nephew had a '98 528i that developed an overheating problem. He had it diagnosed by a small local garage that specialized in imports. They told him it was a cracked head as well. He, like you, was still paying on the car. He was able to get a local Chevy dealer to buy it outright for what he owed on it. They sold him an '03 Silverado which he had to finance for 5 years for $325.00 per month. He had very little cash so the dealer did come down $1100.00 on the price of the truck. He's very happy with the truck. It will be paid off August of 2016. Hopefully you can get a similar deal. I personally went through a similar disaster back in 1986 with a '78 Eldorado. I had to tack on the $1225.00 that I still owed to the price of my new vehicle. Best of luck to you! -Jim
hey i am a bmw dealer technician and first it should not coste you this much of money and i prefer to change the enginethan to fix it
Hi Roy, Thanks for the input,so becuase the car has high mileage and we still owe, you think we should just change the engine? Where are you located? Near Bellflower,CA I hope. If not,thanks again for your advice.
i am from lebanon so its far far from the us ,to fix the engine it will cost you more than a new used engine and you are so welcomed
Get the house first. Dont buy or get a loan to buy a new car. Don't refianc your BMW. Your score will go down. It will be hard to get your score up again DON'T MAKE LOANS OF ANY KIND
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