Thinking about buying a 2004 BMW 530i, would appreciate some helpful input.?

[RockNRolla1]

I've been looking to buy a car for about $15,000 (that's how much cash I have saved up), and like any other 20 year old I'd like to drive a nice car. I came across a 2004 BMW 540i, it has every option possible including navigation, plus it has the sport and premium package. The car is in a great condition, only downside is that it has 90,000 miles on it. I checked the price on blue book and it's roughly $22,500 retail value and $19,000 private party value. I'm buying from a dealer and I negotiated to buy it for $18,000 total (with tax and everything). I'm most likely going to borrow $3,000 from my parents and get the car, but before I do that I'd like to get some opinions from people who own one of these. Also, I know maintenance on BMWs is high, but how often does a BMW break down? As far as insurance, my friend who works for Allstate is going to set me up with full coverage for less than $150 a month. That's with an accident on my record.

So please give me some input. Am I getting a good deal? If you own one, how reliable are these cars? How often do they break down? After how many miles? Roughly how much do you spend a year maintaining it (not counting insurance and gas)? Please don't tell me I'm too young to drive a BMW. I'd like to enjoy a nice luxury car while I'm young, not when I turn 40. No, I really wouldn't rather drive a Toyota or a Honda.

 

[yourboss]

dont listen (read) to busted bride. Bmw's are very reliable cars. we've had a 1984 E30 323i and a 1992 E45 Bmw 525i. the 525i has done over 520000km's on the clock and still pushing. it still has awesome power and we can just jump into it anytime and do long distances at super speeds.
My dad knows all about Bmw's. He's a Bmw enthusiast. And every time he sees that 2000 540i he goes crazy. he just wishes he had one.
Its a super car and it can knock almost any new car on the run.
I say go get that car. as long as u service it, u wont regret it

 

[BustedBride]

Don't do it. You can barely afford the car..at 90k it's life is over..Repair costs on this vehicle would blow your mind...take it from me I am a service advisor at a BMW dealer..I see it all day long..(repairs that go as high as 5k to 20k if it were ever to need something like an engine or a transmission...(makes your savings look tiny doesn't it??) Everyone wants the status but when it comes down to it they can't truly afford it..buy your Toyota enjoy the reliability/cost and gas mileage....not having to pay for premium fuel... and realize people hardly ever look at your car or you when your driving it!