BMW Garage | BMW Meets | Register | Today's Posts | Search |
11-12-2016, 10:04 PM | #23 |
Enlisted Member
36
Rep 31
Posts |
I appreciate all the advice everyone everyone is saying move out. But I don't think since everyone is older than me on here and has kids or what not has their life together. I'm young and just wanna have fun and enjoy life, I've never owned a car and I'm 20 which is sad. But I've been working so hard with this online stuff I wanna be an entrepreneur and I have a great mentor leading me in the right direction. Trust me moving out is one of my main focus I think I might reward myself when I do move out with an M3 since everyone is saying to wait.
|
Appreciate
0
|
11-12-2016, 10:07 PM | #24 |
Private
42
Rep 51
Posts |
Have we officially entered the Twilight Zone? If my kids ask me this at 20 I will know I have failed as a parent...but I would keep that to myself answer them with compassion, so here goes.
You are in the BEST life situation you will ever be in for saving money and building real wealth RIGHT NOW. Wasting it on a hot car is silly. I sometimes regret getting my M4 and my wife and I literally make 3.5 times more than you after taxes. Do what I did...remember you dream car and say you are going to own it one day, but not at the expense of success. Make it a product of your success, not a symbol of what you could have had. I drooled over the E46 M3 from the time they came out (2000/MY 2001). I went to college and still loved them. I graduated and started my career. 4 years later, in 2009, I bought an 2006 M3 with 19k miles on it for 63% of its MSRP. It was an exponentially more intelligent decision than buying my brand new M4. Buy a reasonably priced car and keep saving. Soon enough you will have the depreciating asset of your dreams, but not at the expense of everything else. You are in a good spot to get ahead in life. Don't waste it. |
Appreciate
0
|
11-12-2016, 10:11 PM | #25 | |
Lieutenant General
18225
Rep 11,765
Posts
Drives: 2018 M4 Comp Indv
Join Date: Jun 2009
Location: Newport Beach
|
Quote:
|
|
11-12-2016, 10:16 PM | #26 | |
Private
42
Rep 51
Posts |
Quote:
By all means have fun. Fast cars are awesome. Moving out is expensive and buying a car when you move out might not be smart. You can quickly find yourself in the position where you have a sweet car but can't afford fun. If I were you, I would get a used E92 or 330/335i if you are hell bent on BMWs like I was. In a matter of years you will be able to comfortably afford anything and I would not recommend the F8X as a first car. I have driven many high performance cars on and off track and this thing can be a scary beast. |
|
Appreciate
0
|
11-12-2016, 10:18 PM | #27 |
Enlisted Member
36
Rep 31
Posts |
Lol I love the fact that older people tell us straight forward how things are, you people tell us exactly what we don't want to hear then end up regretting we didn't listen to you guys. I wanna listen to you guys but then every time I see a M4 or M3 I cringe.
|
Appreciate
0
|
11-12-2016, 10:19 PM | #28 | |
Captain
256
Rep 928
Posts |
Quote:
__________________
Gone but not forgotten:
2007 E63 M6 SMG, 1999 996 Carrera Cab AT, 2007 & 2008 E90 335xi AT, 2011 E93 M3 DCT, 2X 2002 E46 M3 SMG & 6MT, 2016 F80 M3 DCT |
|
Appreciate
0
|
11-12-2016, 10:22 PM | #29 | |
Enlisted Member
36
Rep 31
Posts |
Quote:
Last edited by Kevin__; 11-12-2016 at 10:31 PM.. |
|
Appreciate
0
|
11-12-2016, 10:22 PM | #30 |
Private
42
Rep 51
Posts |
You keep calling us old! I am only 34 and had my M3 at 26. We are not old yet, young blood!
|
Appreciate
0
|
11-12-2016, 10:24 PM | #31 |
Enlisted Member
36
Rep 31
Posts |
Yes I want to lease I think everyone here thinks I want to buy it... No I want to lease then work on getting my first apartment... But I will still need a co signer thats a fact.
|
Appreciate
0
|
11-12-2016, 10:25 PM | #32 | |
Captain
256
Rep 928
Posts |
Quote:
__________________
Gone but not forgotten:
2007 E63 M6 SMG, 1999 996 Carrera Cab AT, 2007 & 2008 E90 335xi AT, 2011 E93 M3 DCT, 2X 2002 E46 M3 SMG & 6MT, 2016 F80 M3 DCT |
|
Appreciate
0
|
11-12-2016, 10:28 PM | #35 |
Enlisted Member
36
Rep 31
Posts |
|
Appreciate
0
|
11-12-2016, 10:29 PM | #36 |
Private
42
Rep 51
Posts |
That Miami life has got you sucked in, Kevin. Ultimately it is your money. Us old people have all seen friends do similar things and all shook our heads then and still do it now. You asked for advice and received a lot of it. I highly doubt anyone will say it is a great decision. If you were one of my daughters there would be a zero percent chance of co signing a car ever. College is one thing. A house is one thing. No parent in their right might would be liable for debt that holds their child back from success.
|
Appreciate
0
|
11-12-2016, 10:34 PM | #37 |
General
21144
Rep 20,745
Posts
Drives: 2021 911 turbo
Join Date: Jan 2012
Location: Montreal
|
Is in his early 20s, makes 60k a year, lives with his parents and wants to buy a brand new 80k M3
__________________
Porsche 911 turbo 2021 992 GT Silver
Previous cars: M4cs 2019 F82 Limerock Grey / M4 2015 F82 Silverstone / M3 2008 E92 Silverstone / M3 2002 E46 Carbon Black |
11-12-2016, 10:45 PM | #38 |
Captain
716
Rep 924
Posts |
I am not going to comment on your age or whether you leasing now is a good idea, but I will give you a lesson on leasing - NEVER PUT MONEY DOWN ON A LEASE. If you can't understand why, then you should not be leasing anything no matter how old you are.
__________________
2018 M3 ZCP Glacier Silver Individual Mugello/Black Bicolor Leather
2018 BMW R1200RT Ebony Metallic (my daily) 2016 M3 Silverstone on Black 6MT (SOLD) |
Appreciate
1
mpizutti605.50 |
11-12-2016, 10:49 PM | #39 |
Enlisted Member
36
Rep 31
Posts |
I'm exactly 20, I said I make 5k(plus) a month so it can change. Nothing wrong with living with my parents at my age && I planned on leasing. I asked for advice never said I was gonna actually do it.
|
Appreciate
0
|
11-12-2016, 10:50 PM | #40 |
Enlisted Member
36
Rep 31
Posts |
It's you again lol you always give good advice. From what I know it's not good to put down because god forbid I wreck the car I lose that money. Correct me if i'm wrong?
|
Appreciate
0
|
11-12-2016, 11:11 PM | #42 | |
General
21144
Rep 20,745
Posts
Drives: 2021 911 turbo
Join Date: Jan 2012
Location: Montreal
|
Quote:
I am one that believes in delayed gratification. I am not saying to wait forever, life is meant to be enjoyed, but wait just a little, play it smart and you'll live a better life. My first car was a 4 year old VW GTi that I got at the age of 22. I bought my first M3 still in my twenties, albeit late twenties. I had already moved out of my parents place by then, I lived in a multiplex building that I owned while I rented the other dwellings and I had a salary (excluding my investments returns) of well over $100k. I did a few smart (and lucky) investments in the .com bubble which allowed me to pay cash for my first new M3 in 2001 (an E46). You'll be able to enjoy the car so much more if you are not strained for payments, and the anticipation is also a big part of the pleasure of ownership IMO .
__________________
Porsche 911 turbo 2021 992 GT Silver
Previous cars: M4cs 2019 F82 Limerock Grey / M4 2015 F82 Silverstone / M3 2008 E92 Silverstone / M3 2002 E46 Carbon Black Last edited by CanAutM3; 11-13-2016 at 05:38 AM.. |
|
Appreciate
0
|
11-12-2016, 11:11 PM | #43 | |
Private
42
Rep 51
Posts |
Quote:
My household keeps a car 5-10 years, so it is a moot point as we absorb all the depreciated value of the vehicle. We have never leased because of that. |
|
Appreciate
0
|
11-12-2016, 11:24 PM | #44 |
Captain
716
Rep 924
Posts |
Yup - I am glad to see you are learning. Maybe consider some of the other more valuable advice given to you here.
__________________
2018 M3 ZCP Glacier Silver Individual Mugello/Black Bicolor Leather
2018 BMW R1200RT Ebony Metallic (my daily) 2016 M3 Silverstone on Black 6MT (SOLD) |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|