How Much Money Do You Need To Buy An Incredible Car?

"Torque Affair" (torqueaffair)
03/28/2015 at 09:28 • Filed to: None

After hours and hours of searching for cars online, I have come upon a realization of how much money I need to be able to spend in order to find myself behind the wheels of some of the finest machines on earth.

And here is my conclusion - you need a million dollars.

Of course I'm just joking. You only need five thousand dollars...plus about thirty thousand more.

I have found that the "sweet spot" is in the $30-$40K range where cars that may ordinarily be inaccessible for most of us when brand new, are now obtainable. Cars like the 911, BMW M3, M5, Audi S5 for example - and many others.

Thanks to guys like Doug DeMuro and Tavarish, you know just how many options are available if you look at used cars.

But if you buy used, can't you buy something for way cheaper ?

Sure…you could buy an older E46 M3 for $13K, but one of the key criteria I'm using here also includes having a warranty. Even with a used version of the M3, parts are certainly not going to be cheap. If you buy a 2006 BMW M5, for example, you could easily end up spending more in parts and repairs than the original $25K you paid for the car. In that case, you might as well just pay $50K for a brand new BMW 435i!

Think about the peace of mind of buying an S4 from Carmax without ever having to worry about being stuck with a blown engine. It's hard to believe but I recently ran into not just one, but two coworkers who own an A4 and an A5 and both of their engines blew up. Luckily, both of them had warranties.

A CarMax or CPO warranty are probably the only ones you should consider since third party warranties tend not to cover anything at all. I don't think I've ever met anyone who actually was happy with their aftermarket warranty.

Of course, CPO and CarMax cars will be higher priced than the same car that come without a warranty but it's the price you have to pay for making sure that you don't end up selling your house just to cover the cost of replacing the engine in your 997 911 thanks to infamous "IMS" issue.

With this fine specimen from Carmax, you have no worries. Enjoy the 354 hp being generated by the 4.2L V8 and enjoy a stress-free life.

If you look at CPO Porsches, there are numerous Caymans you could get your hands on in the low $30k range.

Porsches don't depreciate nearly as quickly as an Audi or a Mercedes and so your options are more limited in that same price range. The 996s are totally doable, but the 997s fall mostly outside of the $30-$40K band when it comes to finding one at CarMax or through Porsche's CPO locator.

Every now and then I see an earlier model of the 997 pop up on Carmax but they tend to be gone just as quickly as they appear. The highly desired 911 just doesn't stay in the market for too long, especially when they're priced at less than $40K.

There are an incredibly large number of E90/E92 M3s available at Carmax right now and appear to be one of the best deals out there. With a warranty from Carmax, you'd be hard-pressed to find something better. There are so many great options!

If an M3 isn't enough, then go for a V10 500 hp monster like this one.

Be sure to get the warranty!

The best thing about Carmax is that it's a one-stop-shop for any car that you'd like. You end up paying more but the convenience makes it worth it.

So this is what you need to do to save up $35K to buy one of these vehicles: skip your daily Starbucks for a year (save $1200 bucks), cancel cable (get Hulu plus and Netflix instead and save $600 a year), and then drain your child's college fund. Take all that money and go to your nearest Carmax dealer or CPO dealer of choice and buy the car of your dreams.

Happy shopping!

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DISCUSSION (100)

Your boy, BJR > Torque Affair
03/28/2015 at 09:45

Close, but no. The actual answer is $250,000 , as 71MGBGT found out .

wunderwagen wants a longer roof > Torque Affair
03/28/2015 at 09:52

What about performance that isn't German? Lots of affordability in Japanese performance, also the little American there is left. I could get a Pontiac G8 GT for under $25K with warranty from Carmax, and the GXP trim for way under $40K. That's not even looking at STIs and others, I bet older CTS-Vs are pretty affordable.

AthomSfere > wunderwagen wants a longer roof
03/28/2015 at 10:26

I'd argue after driving one: All youever wanted can be had in the form of Toybaru...

Axial > Torque Affair
03/28/2015 at 11:12

Kinja'd!!!

$14,000

And it will compare well even against that Ferrari 360 that Doug bought. Yes, it's got a '90s GM interior, but it is something very special to actually drive and it gets people craning their necks and children giggling every day.

And if you want one with a warranty, find a dealership selling one from a trade-in, usually around $25,000 plus an extra $2000 or $3000 for the dealership warranty if one isn't included. But the beauty of this car is that it's a Chevy with one of the most reliable engines GM ever stuck in a car. If anything breaks, you can work on it yourself and it won't break the bank if you don't have a warranty. Even the LT5 parts are not bad.

Torque Affair > wunderwagen wants a longer roof
03/28/2015 at 11:46

Yeah those are good options too. I was mostly looking at cars that I would personally like to own.

Torque Affair > Your boy, BJR
03/28/2015 at 11:46

Hah.

Torque Affair > Axial
03/28/2015 at 11:47

More pics?

Axial > Torque Affair
03/28/2015 at 11:51

Ask, and ye shall receive (in this case, my camera isn't a potato, I'm just a potato with cameras):

Kinja'd!!!

Vicente Esteve > Torque Affair
03/28/2015 at 12:00

I think you nailed it with the price. Expensive enough to be a challenge you will feel happy you achieved, costly enough to have really interesting options, but not overly crazy that its non-achievable.

I myself would get either of this:

2008 997 Carrera: http://www.carmax.com/enus/view-car/…

wunderwagen wants a longer roof > Torque Affair
03/28/2015 at 12:02

Gotcha, I was just wondering if you were exclusively including German brands. Personally I lean towards American and Japanese and automatically thought of all those cheaper but still good options. I like your selection regardless of my personal preference, a V10 sedan would be lovely.

Your boy, BJR > wunderwagen wants a longer roof
03/28/2015 at 12:03

Plus the V cars would whup the Audi and Bimmer's asses.

Torque Affair > Vicente Esteve
03/28/2015 at 12:46

That 911 does look really good!!

jjhats > wunderwagen wants a longer roof
03/28/2015 at 12:51

german cars looks and feel so much more expensive. This list seems to allude that its about having a car that looks unobtainable while being fast and fun. The americans and japanese dont have that prestige. yes a 370z nismo is awesome but you look like youre in highschool. The audi shows you have class and a desire for speed

wunderwagen wants a longer roof > jjhats
03/28/2015 at 13:58

I totally agree, there is prestige to the German cars that the others don't have. I think Cadillac is working its way up to that status.

You have the image of the 370zx spot on, haha. I would like to own a Z car at some point but definitely an older one or a Datsun that looks infinitely better.

teeoff > Torque Affair
03/28/2015 at 14:30

I have a huge problem with how little depreciation is on these cars. They are all overpriced in my book. A 7 or 8 year old car that has only depreciated 50-60% from it's original sticker price (a little more if heavily optioned as you never recoup those costs) A 7-8 year old car needs at least a suspension refresh, bushings are wore and shock absorbers are getting to the end of their life cycle and on any of those vehicles those are pricey bits. You're better off biting the bullet and buying one that is 2-3 years old that already took a big depreciation and driving it without having to do anything other than basic maintenance for 2 years and trading it in again. Paying 32k plus 3-5k for a warranty on a 7 year old M3 is nuts to me. I'd rather have the E46 for cheap.

Sam > Axial
03/28/2015 at 14:41

That 90s GM interior isn't half bad.

SX-70 > Torque Affair
03/28/2015 at 15:08

I think I have to turn in my Jalop card. Nothing you mentioned is even on my radar. Once we get out of the used GTI price point I start looking at classics and weird stuff like old AMC's abd resto projects. Different strokes and stuff!

frostbite > Torque Affair
03/28/2015 at 15:10

Define Incredible! Cause everyone's definition of an incredible car will vary!

Sir HoonsAlot > Torque Affair
03/28/2015 at 15:10

not much, just look how much sn95 Cobras go for

Sir HoonsAlot > Torque Affair
03/28/2015 at 15:11

not much, just look how much sn95 cobras go for

guiltymexican > Torque Affair
03/28/2015 at 15:12

let's use $35k. After taxes that's about $39k. Add warranty and that's $43k. Say we're responsible & put 20% down. $8600 cash. Finance $34,400 @ 7% because we're talking about a 6-7 year old car. $700 a month payment w/o taking into account higher maintenance and way higher insurance.

Doable if you still live at home or your a hipster w/ daddy's trust fund supporting your Bohemian lifestyle.

///DARKSTAR > Torque Affair
03/28/2015 at 15:15

~30k seems to be a good price point on an awesome used car. I want to weigh in on Carmax real quick. About this time last year I purchased a 2005 MB SLK55 AMG from Carmax. We had ongoing water leakage issues from the convertible hard top (be sure everything is fully documented!) and today, they bought the car back from us at full price. They treated us great, way above and beyond what i would expect from a used car dealer. Picked up a 2012 Taurus SHO instead (yeah, we're old so dont hate)

Datsun73 > Torque Affair
03/28/2015 at 15:16

I bought the "Best Handling Car In America" for under $18,000 last year.

49,000 miles, all original and stock, 5 speed, 1 owner, complete maintenance records, Cosmos on Anthricite, 1999 model year.

It's the greatest car I've ever had and an absolutel blast to drive! I've yet to come across a cleaner E36. Hard to find in this shape but not impossible. You've just got to find the deals before Enthusiast Auto Group does!

Kinja'd!!!

jalop-ho > Torque Affair
03/28/2015 at 15:18

A fat, unreliable, German doesn't strike me as the finest machine money can buy.

unnecessary human being > Torque Affair
03/28/2015 at 15:22

I work for my local BMW dealership and we often times as a courtesy deliver off-brand lease returns back to whatever dealership they came from. Last time I did this it was to a CarMax and because only the general manager knew the story (she wasn't around) I was met with resistance. They were the most dismissive, uncooperative, unhelpful and borderline rude bunch of employees I've ever had to interact with. I've never had to tell anyone before "look man, I'm just trying to do my job."

As I was walking out the general manager finally came around and she knew the story and took the key from me with a smile, but damn, man; those people really don't GAF if they're not making that 'commish.

signinsrlame > Torque Affair
03/28/2015 at 15:23

I really hope CarMax comes to Canada one day

dogisbadob > Torque Affair
03/28/2015 at 15:26

Audis are not incredible cars :p

The only thing incredible about them is their high cost of upkeep :(

$500 is enough for an incredible car. I have a nice reliable 4-door sports car with luxury and prestige, VLSD, sunroof, leather, Bose system, heated seats, and an auto-dimming mirror :)

Brandon > Axial
03/28/2015 at 15:27

are the seats made of ball park franks?

Axial > Brandon
03/28/2015 at 15:29

Nope, Hebrew Nationals!

SoManyBlueCars > Torque Affair
03/28/2015 at 15:30

Let's take your M5 example. Let's say you buy an e60 for 25k, that needs about 20k in maintainence and repairs. Now your at 45k. Sure, you can get a new 335 for that, but in the end, that's all you'll have. You can't possibly compare the driving experience to a V-10 M5, even if they cost the same.

Manwich - now Keto-Friendly > Torque Affair
03/28/2015 at 15:33

My definition of an incredible car is the Tesla Model S P85D... and that sells for a little less than a million dollars...

Axial > Sam
03/28/2015 at 15:34

It's got some rattles and the dash pad is coming up at the driver's corner, but it looks pretty good for the time period. The ergonomics are also phenomenal.

Finally, buttons. All the buttons!

Cherry_man1 > Torque Affair
03/28/2015 at 15:36

Hello my name is BOSS 302 and I like to eat the M3 for breakfast.

MTY19855 > Torque Affair
03/28/2015 at 15:36

That much money could get you into a clean C6 that doesn't need a warranty in the first place.

TheWuWu > Torque Affair
03/28/2015 at 15:37

How does one find out what the cost of the CarMax warranty is?

Douglas Cegelis > Torque Affair
03/28/2015 at 15:37

I just picked up this 2012 Golf R w/375 HP and 25k miles for $25,950- http://cgi.ebay.com/ebaymotors/ws/…

jrhmobile > Torque Affair
03/28/2015 at 15:39

About $4-5K to buy one, then about $10-12K to build one from there.

Because crafted gear will always beat manufactured equipment.

Cavey > Torque Affair
03/28/2015 at 15:40

Kinja'd!!!

MetaKnight2k > Torque Affair
03/28/2015 at 15:47

Can you provide an example of how much the warranty is? You mentioned a $25k car with over $25k in repairs, but no information as to how much the warranty for the same car might cost.

soundman98 > Torque Affair
03/28/2015 at 15:47

just ask tavarish. i'm sure he can find you a nice car with a salvage title that the airbags didn't deploy on....

Sir HoonsAlot > Torque Affair
03/28/2015 at 15:47

Not much. Just look at the price of sn95 Cobras

dustin_driver > Torque Affair
03/28/2015 at 15:51

I just spent $5k on a super-clean 2004 Mazda 6 V6 Wagon with a manual transmission. I think it's incredible.

porschephile463 > Torque Affair
03/28/2015 at 15:52

I'll propose an alternative way to get 30-40k if you're single:

Step 1: move in with parents so that you save money on TV, power/water, oh and rent.

Step 2: buy a house / condo (I know this sounds counter intuitive but trust me)

Step 3: rent it. (You'll make enough in rent to cover your mortgage payment and still pocket several hundred a month. Add that to what you're allready making at your regular job and the fact your parents are covering the biggest expenses (roof over your head & TV/Internet) and before you know it you've got cash money to pay for that car and an actual NET WORTH instead of a mountain of debt) after you buy your car you can move into the house, or keep renting it and buy another house to live in.

jdrgoat - Ponticrack? > Torque Affair
03/28/2015 at 15:53

Think about the peace of mind of buying an S4 from Carmax without ever having to worry about being stuck with a blown engine.

But all of the newer S4 (and many other Audis) have that blown engine. That's how they get the power, torque, and economy out of a 3.0L V6...

Axial > Datsun73
03/28/2015 at 15:55

Mmmm, yes, E36. Love those wheels.

Darigaaz > Axial
03/28/2015 at 15:55

Kinja'd!!!

JordanFiveOh > Torque Affair
03/28/2015 at 15:56

Just a heads up....a CarMax warranty IS an aftermarket warranty. There are plenty of decent ones out there.

JayHova > Torque Affair
03/28/2015 at 15:57

"How much money do you need to buy a three to 7 year old german sports sedan."

To be honest - the choice of cars is rather underwhelming.

Charles Martel > Torque Affair
03/28/2015 at 15:57

Erm I thought it was the 996 that has IMS bearing issues? Is the 997 also susceptible? What the fruitcake, Porsch?

Datsun73 > Axial
03/28/2015 at 15:58

Me too! My favorite OEM wheel. Originally, it came with staggered Contours. One of the first OEM plus upgrades was a square set of 5 (spare) 17x8.5 OEM BMW LTW wheels!

Trunk666 > Torque Affair
03/28/2015 at 16:05

Bought my Abarth from CarMax. No complaints here!

PlasteredClover > Torque Affair
03/28/2015 at 16:05

the porsche cayman can be had at reasonable prices with a carmax warranty in the low to mid thirties. Talk about a steal.

Charles Martel > Axial
03/28/2015 at 16:05

Man you had me going. I thought you meant the C6 ZR1! I've got enough C4 parts littered across my basement and yard to build 3 of the damn things, yet I have precisely 0 working C4 corvettes.

The C4 takes a bit of skill to go fast in; it does bite back and loves to surprise you with snap oversteer.

MetaKnight2k > Torque Affair
03/28/2015 at 16:08

Can you provide an estimate how much the CarMax warranty costs on the $25k car which might cost more than $25k to repair?

cyclonus2000 > Torque Affair
03/28/2015 at 16:10

How much are CarMax warranties?

cyclonus2000 > Torque Affair
03/28/2015 at 16:11

How much are the warranties typically?

Tatanko > Torque Affair
03/28/2015 at 16:26

Stop trying to make me sell my Accord for an E90 M3!! :p

(I really, really, really want to)

Axial > Charles Martel
03/28/2015 at 16:30

I've got two C4s. The 1990 ZR-1 is awaiting new oil cooler lines and a water pump, but can still actually be driven. The 1996 LT4 is in mechanically perfect shape and gets used by me as a commuter car.

There is a thing with snap-oversteer, especially in the pre-93 ZR-1 if you are at partial throttle and hovering around 3000 RPM. That's when the secondaries open, the torque kicks in, and the wheels get loose. The C4 is also a bit vague in communicating when it's about to break traction outside of that scenario, so you've got to have good intuition on how the car is doing. The positive news is that it's pretty much perfectly controllable when it snaps, a quality that has saved both of mine on a couple of occasions.

The '96 is also a total fox in the corners, begging you to throw it around. The ZR-1 is more...methodical.

I can't say diddly about the C6, because I've never driven one! Not even the regular model!

ColMussstard > wunderwagen wants a longer roof
03/28/2015 at 16:33

Crappy thing about the G8 GT is those things were selling used in 2009 with 25k miles the same price they are at now with 75k miles

RichardNixon72 > Torque Affair
03/28/2015 at 16:38

CARMAX - Enjoy paying $3-6k over fair market value.

Cheapo > Torque Affair
03/28/2015 at 16:41

Hmm so these or the RS next spring?

Dy-no-mite Jay > Torque Affair
03/28/2015 at 16:42

Or buy a used (or even new in some cases) v8 Mustang, Camaro, Corvette, or s2000, 350/70z and still have a pretty amazing car that won't force you to sell kids or the necessary parts of your body to make more kids when your fancy Porsche blows it's IMS, or your stunning bmw v10 spits a piston or whatever they do... even without the warranty