I am considering buying an used BMW in cash and something around 15k, I was reading other threads to get better idea on what to expect and given my budget it seems like any BMW at that price range will be over 100k miles. How much do you all think I should budget to have in the bank to pay for expected/common repairs?
It is possible that I could get lucky and get a car from someone who baby their car and everything was done on point vs being the 4th or 5th owner of a car which could be a nightmare (based on a thread).
I am not in a rush and I may be able to increase my budget to 20k by January if that is a better route that is recommended.
Note: I was snot sure what flair to select so I chose OC but feel free to recommend a different flare if necessary.
Just a heads up a 10 year old BMW with more than 100k miles isn’t going to be cheap to run or maintain. Based on my experience as the owner of an out of warranty BMW 528i I would budget anywhere from $2,000-3,000 per year on wear items (tires, brakes, batteries, shocks struts, etc.) more if you drive a lot (more than 20k miles a year). You might get by if you have some mechanical skill and can do a lot of maintenance yourself, but if you have to take it to a mechanic, the labor rate will be very high and can easily run into the hundreds.