Here’s Why Broke People Buy Used BMWs and Rich People Buy Toyotas

rev up your engines you might think a BMW is a good car to buy yes they are packed full of modern technology but that's the reason I tell people not to buy these bmw's because under the hood our layers and layers of Technology and as you can see the hood struts don't even work anymore those are broken so we'll get our plastic stick out yeah all technology for new technology let's take this BMW as an example and a pretty much a sterling example of the high technology and the problems I have this is a 2008 335i it has all the bells and whistles it's a straight six cylinder engine but a puts top 300 horsepower using technology what's an inline six kind of an old design it has two turbo charges on it to make it have power and if they go bad and bad they do the turbo chargers are over three thousand dollars a piece over two thousand dollars labor so you're looking at over eight grand if they go bad now the original owner of this car paid forty five thousand dollars up for this thing and my customer bought it for $13.5k and he had like forty thousand miles on it so you think oh what a deal well the price alone tells you it's not a deal before he met me they said Scotty I thought I was getting a deal but then every time I take it it's $1,000 for this two thousand dollars for that now yes they are maintenance heavy vehicles it cost a lot of money to maintain anybody who actually knows how to work on these has to have some extremely sophisticated equipment that cost a ton of money and as far as I'm concerned a lot of it has to do with the overuse of plastics in these things one of the first companies used plastic for just about everything with these BMWs it doesn't matter the mileage age destroys the plastics heat of the engine under the hood starts cracks and comes apart if you ever have to work on one of these when it gets to be older this one's twelve years old now you got to be really careful working around the edge because you can easily start snapping off plastic parts they're so brittle now when you find these little plastic parts cost three hundred five hundred some of them well over a thousand dollars when you include labor cuz you got to take half the car part to get to them these things are known for getting oil leaks around the oil filter you might think oh no big deal they're just gaskets in there well some of these things it's over $1,000 labor taking all the crap off to get to the stupid gasket now in the case of this particular one it's here because it's not shifting right now I have equipment for this stuff and as you can see we're now in the transmission you can check variables shifting you can check solenoids you can see what the adaptation values are even find all the code numbers so you can look it up if perhaps there's a recall for your particular vehicle most guys that have this equipment they're paying a ton for the stuff you're gonna pay it's time to have your car work done and a lot of guys won't even touch it nothing take it to the dealer and you know what they charge at the dealer now in this case I did a lot of testing go it around it says you can see there's a lot of data that needs to be looked at while the car is being driven I was able to do a bunch of actuation tests to see if the solenoid valves are working right what kind of data is in it and unfortunately in a case of this one there were no error codes for the transmission the data was all relatively normal so I thought well I know how these things are I took a sample of the transmission fluid not to seal transmission so even out was a pain in the butt there's no dipstick I had to go under or open up some stuff to take a sample and I took it to a good friend of mine who analyzes oil he said that there was too much metal in the oil meaning parts of the transmission we're starting to wear out it hasn't yet tripped any codes and the adaptation so far is normal for 12 year old BMW but this tells me transmissions starting to wear on oil analysis is a great tool for seeing what kind of a shape of vehicles in both engine transmission differential whatever when it's analyzed by somebody who knows what they're talking about they're gonna find it out and you can know ahead of time it's a good predictor so in this case the occasional missed shift and stuff hey that's a sign of internal wear when I checked those solenoids driving around would activate them they were all working and there weren't any codes any of them going bad starting to wear out not for this particular wants 12 years old BMW offers what they call a fully remanufactured factory transmission it's about $6,500 and with labor at least at the BMW dealer that's pretty close to what the two turbos cost to go 7,000 something dollars you buy a beautiful looking car like this used you are playing with dynamite you never know what's gonna blow and when it's gonna go yes the Germans put an interesting technology these lower profile tires they really handle well but being lower profile guess what in the city these things are destroyed the rims get destroyed all that stuff costs a small fortune when it goes out now the technology is fine at the racetrack because racetracks are pretty smooth there go really fast they make them well they're smooth didn't have giant potholes and them curbs that you're gonna smash into in this particular model being a beautiful convertible there are convertible modes there's a module for the convertible top fault codes you can even read the data stream of the convertible system we are talking uber rocket science technology even on a convertible top system for this thing now maybe you just love the technology one of these things if you really love it and have to have it take Scotty's advice lease one don't buy it if you feel you could afford the lease payments you're not gonna have to repair the thing you have to worry about all that stuff if something breaks hey the generally don't break that fast if you look at their insanely low resale value I mean this thing was well over $40,000 new and we had 40,000 miles it went for thirteen five reason behind that low resale value and if you would have bought it new and sold it to somebody with 40,000 miles and lost 30 something thousand dollars on the deal you'd have wished hey I should lease that thing I shouldn't have bought it now I do have to say I have customs with bmws that are totally happy with the cars but most of them are doctors lawyers they lease the vehicle under a business scenario where it's pre-tax money so they don't have to pay tax on some of their salary or the business itself is leased in it and they're getting the car for free what do they care one or doctors lawyers they have tons of money and two it's a business write-off but if you're counting your pennies and you're thinking about one of these things use my advice is just keep saying to yourself endless money pit endless money pit endless money pit now I had a mechanic friend years ago met at an auto parts store one day and he said hey look at this great deal I got on this BMW from one of my customers he didn't want me to fix it anymore so he sold it to me at a really good price well the problem with my friend there was he mainly worked on American cars even know that much about BMW I saw him about a year later I said how's that BMW working out for and he said that plastic piece of crap I got rid of it last month I couldn't stand it anymore all the flesh and stuff kept breaking the parts cost a fortune I'll never buy another one of those and this is the mechanic granded he worked mainly on American cars you like to look at a BMW convertible and think oh what a cool car but in the long run not so cool and if you're thinking about getting a diesel BMW here in the United States realize hardly anybody knows how to work out of things and of course the parts cost a small fortune but they are probably the most complex diesel systems out there when I get them in here invariably after I scan it tell the customer well here's what we're gonna start with they say ah I'm just gonna get rid of the thing I'm sick of this car anyways now yes they are beautiful cars but sometimes beauty can be deceiving so unless you like expensive aggravating cars as they age my advice stay away from bmws and here's some bonus questions and answers mr. Douglas saysScotty I got a 2000 insight one hundred sixty three thousand miles a hybrid battery is starting to fail and it's over $2,000 to replace I really just started a new job that requires a hundred and eight mile commute five days a week it's good idea to replace it thanks here is the problem two thousand dollars to replace that hybrid battery is not a brand new battery that is a recondition battery ask about the warranty most of the ones that I seen it came with a year warranty you're paying all their money for a one-year warranty that's pretty stinky deal realize you're not buying a new battery all those hybrid batteries they're made from a bunch of little batteries like little computer batteries all hooked together and when they start to go bad guys get a computer program and they check them then they see Oh cell number 16 is bad cell number 27 is bad and yada yada then they replace those cells they don't replace them all they only replace the ones they say are bad so the recondition once they stink look at the price of a brand new one and it's gonna be a lot more in two thousand dollars and that's too high I wouldn't do it if I were you because if you want to keep it and driving a long time put it in a rebuilt one in it's kind of stupid it's probably gonna go out in a short period of time that's the scam of these rebuilt hybrid batteries and I tell people generally you're better off staying away from them unless you just plan on keeping a car for the warranty period if it's a one or two year period and you're happy with that go ahead if not don't, so if you never want to miss another one of my new car repair videos, remember to ring that Bell

Channel: Scotty Kilmer

Views: 728,570

Rating: 4.7630363 out of 5

Keywords: car, car diy, car repair, cars, diy, scotty kilmer, cheap car, cheap cars, how to buy cheap cars, here's why, rich people, wealth people, broke, broke people, broke people vs rich, luxury, luxury car, why broke people drive luxury cars, luxury car vs cheap car, rich vs poor, wealthy people, why rich people are cheap, toyota, bmw, toyotas, bmws, bmw review, toyota review, used car, used cars, bmw reliability, here's why broke people buy used bmws and rich people buy toyotas

Id: uEgccoxnmPU

Length: 10min 3sec (603 seconds)

Published: Fri Jan 17 2020