<prompt> Human: Ive been looking to buy a new car in the next few months, I make about 2500 gross a month as a Petroleum Land man. I really would like a BMW and several i have looked at are in the 20-30 thousand dollar price range Id like to stay in. I have very little credit as I am 20 years old. I would love some advice for getting the car of my dreams.  <response>: This is my personal experience. I got my first BMW in July 2014 after graduating from college. It was a 2011 328i at 23K. The total OTD was 27K including tax and fees with an annual interest rate of 2.937; over 72 months. My monthly payment was about 370 a month for 6 years.Fast forward in 2018, I had to refinance once bought a house in between with the remaining balance of 10K and a monthly payment of 320 for the next 3 years. I still owe 10K on the car.My car is now worth 7k and I owe 10K to the bank excluding all the payments that Ive made past 48 months and 2K down payment. People say BMWs do not hold value and thats true. They do not hold value even for used cars. I have no problem making payments and I do enjoy driving the car, so I have no regrets. But if I had known better back then, I would have chosen other cars.I know how you feel - BMWs are nice and fun to drive but it comes with the cost.1. You should expect to spend 100 month extra in maintenance car not breaking down, but just keeping up. For instance, a battery replacement of a BMW is so stupid. The battery is attached in the trunk and costs 300 to replace vs. for a Japanese car, you walk into Autozone and pick up a 50 battery. Synthetic oil change would cost you double the cost of oil change for Japanese cars. Run-flat tires would cost you 800 to replace all four. Spark plugs and ignition coils would cost twice more than they do for Japanese cars. If your car ever breaks down? You better have 2-3K in savings to cover your repair.2. Insurance goes up. At age 20, you should expect to pay at least 200 a month for a BMW. I am still paying around 110 I have high coverage of 100K300K at age 26 and I rarely drive 5K miles a year with clean record of the past 8 years.3. Registration is more expensive. I dont know which state you live in but BMWs do also cost more to register. It cost me 350 last year to register my car in WA.4. You have to put premium gas. They cost 0.20 per gallon more than regular gas. This adds up!This additional cost is not sustainable for a guy making 30K a year. Please think twice before you sign to make a purchase. I was making 60K when I first bought my BMW and it was still a struggle for me to deal with all additional costs that I didnt expect. 