[Champagne]

Silly poll... It differs quite a lot from country to country. Besides, the poll is in dollar and therefore you could have exchange benefits or the other way around (though the dollar is reaaaaaaally loow now).

What's the medium annual income in the US?

[Epacy]

I think it is in the $30-$40k range.

Wow, the sub $50k group keeps rising.

[carnuts3]

Originally Posted by GregW / Oregon

I think this is too personal and not an appropriate topic.

Only personal if you know how everyone voted by name.

[sdiver68]

Originally Posted by Epacy

I think it is in the $30-$40k range.

Wow, the sub $50k group keeps rising.

Median Household Income in the US for 2006 was ~$48K according to the Census Bureau. Per person, including all household members above the age of 14, it is ~$26K. Per worker, it is obviously between those 2 but closer to the latter number, so $30K in my estimation is about right.

We would also need to also factor in cost of living in various areas. $50K in Omaha is much more than $50K in Manhattan.

[mhutchins14]

Is this poll for an individual or household?

[lucid]

Originally Posted by mhutchins14

Is this poll for an individual or household?

Good point. Not specified.

[ajminn]

first time post here. i've been looking/hoping to get the e90, but have been worried about whether i could afford it/should i buy it. i guess just graduating from school and starting to work, i really have no understanding as to how much i should be spending on a new car. that being said, i'll most likely be in the 150k+ group, so this is reassuring that i'm not making a stupid financial mistake.

[lucid]

Someone will be interested in paying you $150k a year, but you can't do the basic analysis and exercise judgment to figure out how much you should be paying for a car?

[GregW / Oregon]

Originally Posted by carnuts3

Only personal if you know how everyone voted by name.

Poll was not up when I posted--I though the OP was asking for us to post.

[ajminn]

lucid, it's not so much that i can't do it as that i'm a little too lazy to figure out what my take home will be after taxes and 401k contributions. that, and i really don't know how big of a percentage is appropriate for car payments. i've heard 20%...

[apw2607]

Watch out. If BMW NA see this poll, they might decide to raise the price of the M3 substantially for 2009 MY !!! ;-)

[Mack211]

Originally Posted by ajminn

first time post here. i've been looking/hoping to get the e90, but have been worried about whether i could afford it/should i buy it. i guess just graduating from school and starting to work, i really have no understanding as to how much i should be spending on a new car. that being said, i'll most likely be in the 150k+ group, so this is reassuring that i'm not making a stupid financial mistake.

How is it possible that you just graduated from school and you are making 150K+ ? I just graduated as well with an EE degree. Even though I am making good money, I must have went into the wrong field. I don't mean to be asking you too personal of a question, I am just curious what you do.

[ajminn]

mack211, sent you a pm.

[jaiman]

Originally Posted by Mack211

How is it possible that you just graduated from school and you are making 150K+ ? I just graduated as well with an EE degree. Even though I am making good money, I must have went into the wrong field. I don't mean to be asking you too personal of a question, I am just curious what you do.

The easy guess is he graduated from a graduate degree, not undergrad. Correct?

I know of people who've finished their MBA started on a trading floor or inverstment banking rotation program and have been guaranteed more money. Knew of one guy who finished a Phd in physics, got a job at a hedge fund (keep in mind he had no finance experience) and made over 300k in his first year.

[Epacy]

Originally Posted by lucid

Someone will be interested in paying you $150k a year, but you can't do the basic analysis and exercise judgment to figure out how much you should be paying for a car?

Well said!

[Epacy]

Originally Posted by ajminn

mack211, sent you a pm.

What was his answer mack211?

[E394KEN]

In all respect, if you to ask then you cant afford. It none of my business, or anyone elses to ask for your income.

Late train response....

[NavNurs]

It is amusing to see at what income level folks feel a 70K car is reasonable. Certainly a poll of folks who do not feel it is reasonable vs income levels would be interesting as well. My guess is Buffett has never owned an M.

+1 for Swamps post. If you could screen for those who currently have the car things would change. They would change again once released in the US as it is priced differently here than in the rest of the world.

Personally, I hope folks are either proud of their compensation or are working towards a day when they are. Boasting about it is another thing. Certainly driving an M is not boasting?

[NavNurs]

Wow, this thread is growing quickly.

They typically don't pay folks 150K/year for nothing. Risk, knowledge, talent and huge numbers of hours spent away from home on a project are typically rewarded. Simply showing up for work and leaving as soon as possible isn't.

If you can't figure out if the car is appropriate or are too lazy to calculate your compensation and if it warrants the demands of the position, how the hell did you get through school?

[malter2.0]

Whatever the income is....I think you should really own a home or be in the process of paying it off before you plunge $70k for a car.

...because...

this car deserves its own driveway and a garage

[jtown]

If you were faced with the choice of saving money to move out of mommy and daddy's house VS buying a new car the answer should be obvious. You may pimp an M3, but you have to tell the ladies you live at home. Big LOL if you ask me.

[ajminn]

correct. im graduating from grad school, not undergrad. and to everyone that said how the hell did i get through school if i'm that lazy to figure out whether i can afford the car, i guess i didn't state that accurately. i know what my take home pay would be and how much taxes i would be paying. my laziness was referring more to doing research as to whether or not paying $1300/month in payments for 5 years would be worth it. i know there are a lot of trolls and 20 year olds who have daddy and mommy buying their cars. i always thought of myself in a different class since i've worked through school and have done well to get where i am today. just wanted to reward myself for the hard work, but i understand why a lot of you are skeptical. the funniest part would be that my car payments would be more than our mortgage payments.