Hi Josh:
I have to agree with mopaman. My advice is to buy the 328i. We all love X5's or we would not be here, but from what you describe of your situation, you would be better off with the three IMHO. Here is my rationale:
- If you ever have to replace the 20's on the X5, you'll be eating mac & cheese the whole next semester to pay for them.
- You probably won't benefit that much from the advantage of a larger vehicle for your lifestyle, but you always have to pay the higher insurance and for feeding that big, thirsty V8.
- The '07 X5 was relatively reliable for a first year new model, but lots more electronics and more complex systems general means more to go wrong in comparison to the three.
- 62k miles is really nothing for these cars, but unless you buy an aftermarket warranty that really covers everything you could wind up paying a lot to fix something if it breaks.
- The money you will save on gas alone will pay for an extended warranty on the 328, if you wanted to keep it for a while. That car still qualifies for a BMW warranty extension plan, which your x5 candidate does not.
- If you know the 328 was well cared for by your buddy, and you know it's history, there is no doubt you will be getting a solid car.
Nobody likes to defer gratificaiton, but there is something to be said for setting long term goals and attaining them. Buy the 3 now, and enjoy driving it while you finish your education. Then you can get a great job and start making some real money. When you do, reward yourself with a nice used X5.
Good luck. Whaterver you decide, you can't go wrong with either of these magnificent cars.