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      03-04-2013, 02:40 PM   #155
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Quote:
Originally Posted by BMWcoupe335ii View Post
Yes, I did. And how is that stupid, I had the money and my other priorities (condo) were 80% paid off so I bought it, simple as that. I don't finance WANTS and I don't like being in debt for anything other than a place to live. But hey, everyone priorities are different.
I love this, much better to not own anyone money if you can afford it. e
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      03-04-2013, 02:41 PM   #156
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Originally Posted by BMWcoupe335ii View Post
Yes, I did. And how is that stupid, I had the money and my other priorities (condo) were 80% paid off so I bought it, simple as that. I don't finance WANTS and I don't like being in debt for anything other than a place to live. But hey, everyone priorities are different.
when financing payments are so low, especially with any downpayment you want, why wouldn't you just take some of that money and invest it? or get an aston or something lol

not giving advice obviously, that's just what i would have done
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      03-04-2013, 02:45 PM   #157
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I love this, much better to not own anyone money if you can afford it. e
Yeah, it feels really good to not owe anyone. You sort of become dependent on your income, and if the income goes then so does the car, so I try to avoid that situation because you never know what's going to happen.
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      03-04-2013, 02:49 PM   #158
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Quote:
Originally Posted by BMWcoupe335ii View Post
Yes, I did. And how is that stupid, I had the money and my other priorities (condo) were 80% paid off so I bought it, simple as that. I don't finance WANTS and I don't like being in debt for anything other than a place to live. But hey, everyone priorities are different.
Financially, its a poor decision. You have the right attitude, no doubt, but you *could* have financed a portion of the car and invested/done something else with the cash to get you a higher return. Interest rates for loans are ridiculously low right now.
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      03-04-2013, 02:55 PM   #159
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Originally Posted by kbryce View Post
when financing payments are so low, especially with any downpayment you want, why wouldn't you just take some of that money and invest it? or get an aston or something lol

not giving advice obviously, that's just what i would have done
A v8 vantage is my dream car actually, but I want to buy a single family home soon since I moved back to charleston, so its going to have to wait until im like 37 lol. I understand what you are saying though, and I know that's the reason alot of people, even the ones that can pay cash, still finance. But paying cash was just the best option for me. I actually sold the 335i earlier this month, I drive a restored e30 now, I lost about 9k selling it but hey you almost always lose when selling a car.
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      03-04-2013, 03:01 PM   #160
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Originally Posted by badassfajita View Post
Financially, its a poor decision. You have the right attitude, no doubt, but you *could* have financed a portion of the car and invested/done something else with the cash to get you a higher return. Interest rates for loans are ridiculously low right now.
Yeah, I could have financed some but I don't like being in debt, Id rather sleep well at night knowing the only thing I owe money on is the roof over my head lol.
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      03-22-2013, 01:38 AM   #161
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Originally Posted by John 070 View Post
60k income is enough to drive a BMW? Now that's scary.
LMFAO! 60K ? Only for your self HAHA........what about a girlfriend, wife, kids, dog, cat, and a house/rent? 60K I don't think so, you be driving a POS car for that cash or a used bimmer like a beater bimmer with 140K + mi on it. Oh ya what about savings for your kids college ? yada yada yada .. if you talking about buying a new BMW with this income no one will even give you a loan for a $60K car with $60K income, unless you live in a basement and are single.
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      03-22-2013, 03:41 AM   #162
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Originally Posted by BMWcoupe335ii View Post
Yeah, I could have financed some but I don't like being in debt, Id rather sleep well at night knowing the only thing I owe money on is the roof over my head lol.
So what you've effectively done is pay a (not-guaranteed) couple grand in opportunity cost for the peace of mind of not having a financial obligation/not having to deal with it.

A .9% 4 year loan is something like $600 in finance charge, vs a 30k stock market investment for 4 years is something like $5k profit (not guaranteed at all, but well-diversified, that's a likely return).

Not what I would have done, but fair.
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      03-22-2013, 04:08 AM   #163
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Originally Posted by labedra View Post
LMFAO! 60K ? Only for your self HAHA........what about a girlfriend, wife, kids, dog, cat, and a house/rent? 60K I don't think so, you be driving a POS car for that cash or a used bimmer like a beater bimmer with 140K + mi on it. Oh ya what about savings for your kids college ? yada yada yada .. if you talking about buying a new BMW with this income no one will even give you a loan for a $60K car with $60K income, unless you live in a basement and are single.
I mean, median income in the US in 2012 was 49k. 60K is doing alright, at 40th percentile. And the thread is 'if you're so young..." [actually, it's "if your so young", which is fucking bothersome], so presumably a wife/kids are out of the picture. A pet's only a couple hundo a year.

If you consider that raising a kid to independence is basically 200k over 20y (ignoring college), that's an enormous cost not to have.

All in all, a lightly used BMW is well within reason for a person with a good job and basically no other long term financial responsibilities.

Y'all elitists tend to get really uppity on having a high enough income to drive a bimmer, but it's not as if the 3 series is the most expensive car in the world. Cheap, hardly, but the 328 costs less new than a well-equipped gas ford fusion, and depreciates wildly faster.

Certainly no need to drive a POS on a 60k income.
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      03-22-2013, 09:44 AM   #164
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I got my 07 328i last year, I was 20. It's all me, my parents don't buy me shit. But they did teach me, you have to work hard to get what you want. Some people have it easy, and are so unappreciative. I am thankful for my job and knowing that I bought a bimmer at 20 years old is just more motivation.

Okay, I am done now.
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      03-22-2013, 12:18 PM   #165
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I'm 14 and sell crack, can't drive it yet. Just sit behind the wheel and make driving noises with my mouth.
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      03-22-2013, 02:42 PM   #166
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I'm 14 and sell crack, can't drive it yet. Just sit behind the wheel and make driving noises with my mouth.
That you can't drive it doesn't preclude you from revving it in the driveway. Gah, dumb fourteen year old crack heads.
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      03-22-2013, 03:31 PM   #167
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I'm 14 and sell crack, can't drive it yet. Just sit behind the wheel and make driving noises with my mouth.
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That you can't drive it doesn't preclude you from revving it in the driveway. Gah, dumb fourteen year old crack heads.


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      03-22-2013, 03:33 PM   #168
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I got my 335is on my 20th birthday. Thanks mom n dad
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      03-22-2013, 03:46 PM   #169
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where is the love?
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      03-22-2013, 05:19 PM   #170
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Although now that I think about it, you WOULD have to get your dad to come back with jerry cans full of gas. Not that you'd run through a tank all that quick not going anywhere.
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      03-22-2013, 06:56 PM   #171
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I got my 335is on my 20th birthday. Thanks mom n dad
Hopefully they also went to a good college and got you in too. Our billionaire owner not only got his son a Cayenne Turbo for his 18th birthday, but his son got into one of the best colleges as well. Someone told me it's like a 5.9% acceptance rate and the kid is like an A- student--no way he gets in with those grades. That is a thanks mommy and daddy, not a 335is LOL When I went the acceptance rate was 19% (showing my age)....
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      03-22-2013, 06:59 PM   #172
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Quote:
Originally Posted by alexwhittemore View Post
So what you've effectively done is pay a (not-guaranteed) couple grand in opportunity cost for the peace of mind of not having a financial obligation/not having to deal with it.

A .9% 4 year loan is something like $600 in finance charge, vs a 30k stock market investment for 4 years is something like $5k profit (not guaranteed at all, but well-diversified, that's a likely return).

Not what I would have done, but fair.
You guys really throw leverage around like it's nothing. Leverage is great when you're on the winning side of a trade--but there are two sides.

Imagine all the f***tards in 2009 leveraged to the hilt with worthless options. That's not what wealthy people do. Oh, but let me guess, you got out at the top, and back in at the bottom, timing.....LOL
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      03-22-2013, 07:03 PM   #173
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Quote:
Originally Posted by alexwhittemore View Post
I mean, median income in the US in 2012 was 49k. 60K is doing alright, at 40th percentile. .
65k is a starting salary for someone who comes out of a good school, and most of the kids I've seen at our firm who fit that bill drive junk. That tells me they have their priorities in order. Some people who work with me make a lot of money, and they have 5-7 y.o. Japanese sedans. Yet they're also paying 22k in property taxes on their homes. Money doesn't grow on trees, imho it's given to you maybe when your as old as 18. These "335i" kids at 20, I wonder if they expect the same at 30, 40, 50. prolly
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      03-22-2013, 07:12 PM   #174
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I deserve it and my dad works hard to pay for it. It was handed down too me from my dad (got it brand new in 06) and I got into dental school from high school (8 year program) and if anyone has shit to say about that then so be it. I'm only 17

I just think people indeed should sometimes be jealous if someone drives a BMW and they don't. If you have a person get a brand new m3 at 16 and they have great grades and eventually get accepted into a good college and is on the road to success then hell yeah they better be jealous. Meanwhile, if your some piece of trash who drives around on his parents money and dropped out of high school then that just pisses me off
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      03-22-2013, 07:16 PM   #175
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      03-22-2013, 07:24 PM   #176
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19 and i got a 2008 328xi coupe as my first car..i paid it all myself...work in the u.s. army
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