[Kevin__]

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.

[Vooj]

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.

[GrussGott]

Originally Posted by Kevin__

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.

Everything you said in there are the ramblings of a fucked person

[Vooj]

Originally Posted by Kevin__

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.

So you would buy something that costs as much as a house but eventually loses all of its value simply because folks are saying not to or did I misread that?

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.

[Kevin__]

Originally Posted by GrussGott

Everything you said in there are the ramblings of a fucked person

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.

[mercedesc63]

Originally Posted by Kevin__

This is my second thread on the bimmer post not sure though if this is the right spot to post so sorry in advance. Okay so here is my situation the F80 is my dream car have been wanting this car since the 2015 version came out. So I'm 20 years old and FOR the past few months I have been making over 5k+ a month working online(still work part time offline). I DONT own a car now I use my parents. I live with them as well. So my question is should I lease a Lexus for 2 years then just get out of it once a year hits to get a M3? The reason I say this is because trying to convince them to co sign a 80k plus car is gonna be hard unless I show them my bank account. I'm sure if I lease a Lexus I can convince them to do that because it's cheaper then by the time I want a M3 I won't need one......

Not that this matters but what made me come up with this idea is the fact that my friend is like the same age or 19 owns a 14 M5 lives with his parents and works at a supermarket idk how he got that to happen but it happen. The paying 1k plus for the car a month won't be a problem it's the co signer part. Thanks in advance and again sorry if this isn't the right place to post.

If u make 5k a month u should go get it by yourself cash. If you want to lease just ask how much down it takes to get it because if you put enough down credit doesn't matter.

[Kevin__]

Originally Posted by Vooj

So you would buy something that costs as much as a house but eventually loses all of its value simply because folks are saying not to or did I misread that?

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.

I never intended on buying this car for that I mind as well get a used 2015 F80. I test drove this car like 2 weeks ago driving it to south beach. I fell inlove and now I'm stuck between wait a couple years or fuck it and just get a co signer.

[Vooj]

Originally Posted by Kevin__

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.

You keep calling us old! I am only 34 and had my M3 at 26. We are not old yet, young blood!

[Kevin__]

Originally Posted by mercedesc63

If u make 5k a month u should go get it by yourself cash. If you want to lease just ask how much down it takes to get it because if you put enough down credit doesn't matter.

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.

[mercedesc63]

Originally Posted by Kevin__

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.

If you put enough down payment on anything then you will get it.

[Kevin__]

For anyone thinking I want to buy this car.... NO I want to lease I should have put that in the original post.

[F80R]

Originally Posted by ElSenor

Why not use the money to move out?

This ^^^yes

[Kevin__]

Originally Posted by mercedesc63

If you put enough down payment on anything then you will get it.

Without a co signer?? I was talking to rep he was saying I would need one and we didn't even run numbers.

[Vooj]

Originally Posted by Kevin__

I never intended on buying this car for that I mind as well get a used 2015 F80. I test drove this car like 2 weeks ago driving it to south beach. I fell inlove and now I'm suck between wait a couple years or fuck it and just get a co signer.

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.

[CanAutM3]

Is in his early 20s, makes 60k a year, lives with his parents and wants to buy a brand new 80k M3

[MadZarBMR]

Originally Posted by Kevin__

Without a co signer?? I was talking to rep he was saying I would need one and we didn't even run numbers.

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.

[Kevin__]

Originally Posted by CanAutM3

Is in his early 20s, makes 60k a year, lives with his parents and wants to buy a brand new 80k M3

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.

[Kevin__]

Originally Posted by MadZarBMR

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.

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?

[SammysFast]

If you have to REALLY think or worry about it, you probably can't afford it. Don't do it.

Enough said.

[CanAutM3]

Originally Posted by Kevin__

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.

The slap in the back of the head was my advice .

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 .

[Vooj]

Originally Posted by Kevin__

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?

Not sure about what happens when you wreck the car, but it makes very little sense to put your money into a hole that guarantees no return and you get no product when it is all said and done. The financial benefit of the lease is found by putting as little money into it as possible. You could instead put the money you save elsewhere and make money with it.

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.

[MadZarBMR]

Originally Posted by Kevin__

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?

Yup - I am glad to see you are learning. Maybe consider some of the other more valuable advice given to you here.