How can you afford a BMW M3?

How do people afford BMW M3s? I almost have enough money to buy one, but I'm afraid it'll cost too much to maintain every year.

Answer
It’s good you’re thinking ahead! It can be hard to afford a BMW M3 when repair costs alone average out at $1,160 a year.
If this is within your budget and you still want to buy a BMW M3, then keep reading our best tips to save on car expenses:
  • Buying a used car can save you tons on depreciation. In the first year, a new car will lose 20% of its initial value.
  • Driving less can also save you money on maintenance and gas. The less you drive, the less gas you need, the more you save.
  • Check your fluid levels often to avoid engine damage or other internal problems.
  • Keep your tires filled and rotate them every 6,000-8,000 miles. Low-pressure tires are more likely to pop, and you’ll need to pay to replace them.
  • Finding a cheaper insurance policy than your current provider can also help you save. You won’t know how much you can save until you look, so shopping around can be worthwhile.
That said, finding affordable car insurance can help you start saving immediately. Between better providers, bigger discounts, and more balanced coverage, you could save hundreds every month!
If you’d like to start saving but feel overwhelmed, try Jerry. A licensed broker, the Jerry app can help you find and compare competitive quotes from top insurance providers for free. Jerry can even help you buy a new policy and cancel your old one. All you need to do is pick the coverage you want and let Jerry do the rest!
Joshua Levy
Answered on Oct 20, 2021
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