E90Post
 


Lux Angel Eyes
 
BMW 3-Series (E90 E92) Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board > Understanding priorities.



Reply
 
Thread Tools Search this Thread
      03-24-2006, 02:28 AM   #1
E90-4life
auto pilot
 
E90-4life's Avatar
 
Drives: E60 M5 chilln on slicks
Join Date: Sep 2005
Location: SoCal

Posts: 822
iTrader: (0)

Understanding priorities.

Comes a time in life where you need to asess exactly where you're at and where you wanna be in another five years(whatever you're looking at for the short term/long term, whatever.

I was flipping through an 06' 3er brochure last night, and my mom was sitting across the way staring at me as I'm page flipping. I said, "you know this is my next car right?" She goes, "I bet you had better get through college first before you start thinking about that 'next car'." No rebuttle for that one, because as always mom was reading my brain and seeing "damm, I want this car A.S.A.P." - Granted I could probably buy this car sooner than later, priorities are priorities, and I'm most certaintly not going to jump in pool w/ no water. The pain in waiting, but I think being a college graduate and established in my career will be far more satisfying than "living it up" right now. Not a jab at anyone, just speaking from a personal space.
E90-4life is offline  
0
Reply With Quote
      03-24-2006, 11:55 AM   #2
geeslice
Second Lieutenant
 
geeslice's Avatar
 
Drives: '06 325xi
Join Date: Mar 2006
Location: Arlington, VA

Posts: 283
iTrader: (0)

Garage List
2006 325xi  [0.00]
2004 Audi TT  [0.00]
Send a message via AIM to geeslice
It's especially sweet after you finally land that "big job" outside of college and you buy it as a present for yourself... cash.
__________________
It's called "HAPPY" Hour for a reason.

'06 E90 325xi Sparkling Graphite, Dakota Black Leather, Dark Walnut Burl Trim, Steptronic, Premium Pkg, Cold Weather Pkg, Xenons = LOVE
geeslice is offline   United_States
0
Reply With Quote
      03-24-2006, 11:57 AM   #3
sdorn
Lieutenant
 
sdorn's Avatar
 
Drives: 2006 Jet Black 325i
Join Date: Feb 2006
Location: Atlanta

Posts: 491
iTrader: (0)

There aren't many "big jobs" you can land out of college that will allow you to buy a $40k car for cash. I could barely afford rent, gas, and payments on a used Maxima from my first job out of college.
__________________
2008 Sparkling Graphite 535i
2009 Land Rover LR2
2003 Porsche 911 Turbo (SOLD)
2006 Jet Black 325i (SOLD)
2001 Bullitt Mustang (450rwhp - SOLD)
sdorn is offline  
0
Reply With Quote
      03-24-2006, 11:58 AM   #4
BMW F22
Major General
 
BMW F22's Avatar
 
Drives: ///M235i
Join Date: Nov 2005
Location: Around the Bay

Posts: 8,306
iTrader: (8)

priorities eh...yeah man I just wanna get my degree and get a good job. Then I will live it up. Retiring at 45 is one hell of a dream (which wont happen). Anyways, you drive a Phantom??? the hell u need an E90 for?
BMW F22 is offline   United_States
0
Reply With Quote
      03-24-2006, 12:15 PM   #5
england1987
Second Lieutenant
 
Drives: Z4 M coupe
Join Date: Sep 2005
Location: NC, USA

Posts: 280
iTrader: (0)

Garage List
2006 Z4 M Coupe  [3.50]
I am very lucky. My parents started a furniture company 25+ years ago. 6 years ago we moved production from England to China and the company has grown beyond our expectations. At the same time we moved from England to the U.S.A. The first year here was hard for us all, but we just had to get on with it. It has worked out very well for us and our employees. I currently am undergoing chemotherapy for Anaplastic Large T-cell Lyphoma with a very positive outlook. I should be done 2 treatments early if everything works out, so a total of six 5 day stays in hospital. I was looking at the 3-series from August 05, but I couldn't afford to change my car. I found out that I had cancer in December. With that in mind my parents decided to help me out and I ordered my 335i in January, its something to look forward to. This will be my first BMW, and I can't wait. This is the car I have looked forward to the most out of the caars I've had. I took the semester off college to get treatment, but I will return in the fall semester.
england1987 is offline   United_States
0
Reply With Quote
      03-24-2006, 12:24 PM   #6
geeslice
Second Lieutenant
 
geeslice's Avatar
 
Drives: '06 325xi
Join Date: Mar 2006
Location: Arlington, VA

Posts: 283
iTrader: (0)

Garage List
2006 325xi  [0.00]
2004 Audi TT  [0.00]
Send a message via AIM to geeslice
Well I'm not right out of college... almost two years out but I just got the job I wanted now that I have "office experience" and am gettting paid a lot more plus I live at home to save $$ and because all my friends went to LA...

For most, yes a 40k car in cash is out of their range... but I am selling my '04 Audi TT I got as a graduation present so if you figure I'm really only covering the difference... it makes sense.
__________________
It's called "HAPPY" Hour for a reason.

'06 E90 325xi Sparkling Graphite, Dakota Black Leather, Dark Walnut Burl Trim, Steptronic, Premium Pkg, Cold Weather Pkg, Xenons = LOVE
geeslice is offline   United_States
0
Reply With Quote
      03-24-2006, 12:31 PM   #7
timzerofive
there is no spoon
 
timzerofive's Avatar
 
Drives: 330i manual
Join Date: May 2005
Location: Irvine

Posts: 866
iTrader: (0)

Garage List
2006 330i  [0.00]
If it wasn't for the fact that I'm going to have to start paying $1400 in rent monthly starting next month, I would've bought a 6 series with this "big job" right out of college. I'm envious of people who's family is well off enough just so you don't have to worry about them.
__________________
timzerofive is offline  
0
Reply With Quote
      03-24-2006, 01:00 PM   #8
Squawks
One of my two dachshunds:
 
Squawks's Avatar
 
Drives: B6 A4 3.0 Quattro
Join Date: Aug 2005
Location: Ithaca, NY

Posts: 663
iTrader: (0)

Send a message via AIM to Squawks
Quote:
Originally Posted by timzerofive
I'm envious of people who's family is well off enough just so you don't have to worry about them.
Dude, you're in Irvine. Just tell your family that you won't be able to chip-in for the construction of their 3rd swimming pool in their 3rd vacation home. Hahah, not like you're from the projects trying to get your single mom out of the ghettos.
__________________
I'm sorry about my outlandish behavior - there's too much blood in my alcohol system.
Squawks is offline   United_States
0
Reply With Quote
      03-24-2006, 01:25 PM   #9
timzerofive
there is no spoon
 
timzerofive's Avatar
 
Drives: 330i manual
Join Date: May 2005
Location: Irvine

Posts: 866
iTrader: (0)

Garage List
2006 330i  [0.00]
Quote:
Originally Posted by Squawks
Dude, you're in Irvine. Just tell your family that you won't be able to chip-in for the construction of their 3rd swimming pool in their 3rd vacation home. Hahah, not like you're from the projects trying to get your single mom out of the ghettos.
Haha, my family is not poor, but they're not well off enough either. I do give my parents some money every month and I do have to put extra money away "just-in-case". Just in case my mom loses her job tomorrow. Just in case my dad gets ill and can't continue doing his business tomorrow. They're both getting up there in the age either so its about time they retire, so I need to make sure they'll be comfortable when they do retire. So, no don't get me wrong, I'm not saying my family is piss poor and I'm supporting them, but I'm just saying I'm envious of the people who's parents are well off and are set themselves where the kids doesn't have to worry about them. I know I'm a lot luckier then a lot of other people out there, but one always wants more.

For example, I want to take a trip to tour Europe. I can afford a month long trip for myself easily (assuming I can take a month off without my boss jumping off the building), but I'll feel guilty going since my parents never been. So instead I'm trying to save up enough so they can go first.
__________________
timzerofive is offline  
0
Reply With Quote
      03-24-2006, 01:37 PM   #10
geeslice
Second Lieutenant
 
geeslice's Avatar
 
Drives: '06 325xi
Join Date: Mar 2006
Location: Arlington, VA

Posts: 283
iTrader: (0)

Garage List
2006 325xi  [0.00]
2004 Audi TT  [0.00]
Send a message via AIM to geeslice
awww aren't you the sweetie!
__________________
It's called "HAPPY" Hour for a reason.

'06 E90 325xi Sparkling Graphite, Dakota Black Leather, Dark Walnut Burl Trim, Steptronic, Premium Pkg, Cold Weather Pkg, Xenons = LOVE
geeslice is offline   United_States
0
Reply With Quote
      03-24-2006, 01:49 PM   #11
timzerofive
there is no spoon
 
timzerofive's Avatar
 
Drives: 330i manual
Join Date: May 2005
Location: Irvine

Posts: 866
iTrader: (0)

Garage List
2006 330i  [0.00]
Quote:
Originally Posted by geeslice
awww aren't you the sweetie!
__________________
timzerofive is offline  
0
Reply With Quote
      03-24-2006, 01:59 PM   #12
E90-4life
auto pilot
 
E90-4life's Avatar
 
Drives: E60 M5 chilln on slicks
Join Date: Sep 2005
Location: SoCal

Posts: 822
iTrader: (0)

Quote:
Originally Posted by sdorn
There aren't many "big jobs" you can land out of college that will allow you to buy a $40k car for cash.
Well, that depends on your resume, and I actually have one, a damm good one that could work to my advantage later on> hence the reason I said "a college graduate and established in my career ".
E90-4life is offline  
0
Reply With Quote
      03-24-2006, 04:34 PM   #13
docbolo
BMW worshiper
 
Drives: M3/alpine/manual/prem/19"
Join Date: Jan 2006
Location: San Diego, CA, USA

Posts: 254
iTrader: (1)

Quote:
Originally Posted by E90-4life
Well, that depends on your resume, and I actually have one, a damm good one that could work to my advantage later on> hence the reason I said "a college graduate and established in my career ".

did you win Modest Man of the year award too? Add that to your resume. j/k
docbolo is offline  
0
Reply With Quote
      03-24-2006, 04:43 PM   #14
ward
Major General
 
Drives: F
Join Date: May 2005
Location: T

Posts: 6,162
iTrader: (0)

veering further off topic

buying a car cash is not smart
even if you finance at 6% interest you should be able to take the money you would have used to buy the car cash and earn at least 8-10% on that money for a 2-4% gain on the money you kept instead of giving to the dealer all up front
ward is offline  
0
Reply With Quote
      03-24-2006, 04:46 PM   #15
ward
Major General
 
Drives: F
Join Date: May 2005
Location: T

Posts: 6,162
iTrader: (0)

Quote:
Originally Posted by geeslice
Well I'm not right out of college... almost two years out but I just got the job I wanted now that I have "office experience" and am gettting paid a lot more plus I live at home to save $$ and because all my friends went to LA...

For most, yes a 40k car in cash is out of their range... but I am selling my '04 Audi TT I got as a graduation present so if you figure I'm really only covering the difference... it makes sense.
if you're living with your parents 2 years out of college to "save money" why are you buying a new car?

everyone's situation is different, maybe you're needed at home to help with elderly parents or something and I'd commend you for that. Outside of that, I think most would rather have their own place and an 04 Audi, than still be at home with an 06 BMW
ward is offline  
0
Reply With Quote
      03-24-2006, 05:14 PM   #16
E90-4life
auto pilot
 
E90-4life's Avatar
 
Drives: E60 M5 chilln on slicks
Join Date: Sep 2005
Location: SoCal

Posts: 822
iTrader: (0)

ward,

I'm going to have to agree w/ you here. I'd much rather buy a nice house(appreciating asset) and pay for it w/ cash than to buy a nice car(depreciating asset) and be eating it financially trying to look GQ for the ladies. And if shiznit hits the fan at least you can sell your house for more than what you paid for it and have a lil more cash on the side to help you recover. There's always a solid second hand car market out there as well, though some can't cope w/ the thought it makes more financial sense than buying a new car(most, new BMW's costs almos tas much as second hand ones. Saying it the other way around would have been more appropriate, sorry.) Either way, weather it be a 1 series or a 3 series, new or second hand, I'll be looking forward to trading up to a BMW.
E90-4life is offline  
0
Reply With Quote
      03-24-2006, 05:36 PM   #17
timzerofive
there is no spoon
 
timzerofive's Avatar
 
Drives: 330i manual
Join Date: May 2005
Location: Irvine

Posts: 866
iTrader: (0)

Garage List
2006 330i  [0.00]
These days, you don't want to buy ANYTHING with cash, house, car... just because the interest rate are still so low. Some people even say claim more deductions when you get your paycheck so instead of having them take all the taxes out it when you get paid, you pay the tax at the end of the year. This way you take that "extra" money and invest it, making interest on it then pay at the end of the year. It's like a interest free loan from the government.
__________________
timzerofive is offline  
0
Reply With Quote
      03-24-2006, 06:33 PM   #18
Squawks
One of my two dachshunds:
 
Squawks's Avatar
 
Drives: B6 A4 3.0 Quattro
Join Date: Aug 2005
Location: Ithaca, NY

Posts: 663
iTrader: (0)

Send a message via AIM to Squawks
Ward's point wasn't a rebuttal against buying a car over say, a house.

Instead, what he is saying is that it's stupid to buy a car using straight-cash in one lump-sum payment for the whole cost...you end up losing potential money you could have earned had you financed the car...UNLESS your cash source was always in some sort of appreciating asset (i.e. mutual funds, stocks, CD, etc.).

EDIT: whoops, tzf posted something analogous.
__________________
I'm sorry about my outlandish behavior - there's too much blood in my alcohol system.
Squawks is offline   United_States
0
Reply With Quote
      03-24-2006, 08:55 PM   #19
E90-4life
auto pilot
 
E90-4life's Avatar
 
Drives: E60 M5 chilln on slicks
Join Date: Sep 2005
Location: SoCal

Posts: 822
iTrader: (0)

I appreciate the different takes, but I was merely putting my own twist on ward's statement tacking on my own ideas, knowing his full intent w/ his words. Thank you.
E90-4life is offline  
0
Reply With Quote
      03-24-2006, 09:40 PM   #20
bavarian19
General
 
bavarian19's Avatar
 
Drives: Car
Join Date: Mar 2005
Location: VA

Posts: 18,811
iTrader: (23)

Im sorry... The best financial situation you could put yourself in is to save up your money and buy a townhome/condo/house. When you buy a 40k car, you are buying a lead baloon. Atleast with a place to call home, you will not lose much money. If you live in the right areas (such as where I do), there is a good chance to make money on your place, and you will be that much better off...

I figured I would do the best of both worlds... Buy a house first and then pay for a 325 in cash... Ill be the first to admit... Parents helped with the down payment on the house, and I paid for the car in cash on delivery.... not bad for a twenty-something
bavarian19 is offline   United_States
0
Reply With Quote
      03-24-2006, 09:47 PM   #21
E90-4life
auto pilot
 
E90-4life's Avatar
 
Drives: E60 M5 chilln on slicks
Join Date: Sep 2005
Location: SoCal

Posts: 822
iTrader: (0)

Quote:
Originally Posted by bavarian19
Im sorry... The best financial situation you could put yourself in is to save up your money and buy a townhome/condo/house. When you buy a 40k car, you are buying a lead baloon. Atleast with a place to call home, you will not lose much money. If you live in the right areas (such as where I do), there is a good chance to make money on your place, and you will be that much better off...

I figured I would do the best of both worlds... Buy a house first and then pay for a 325 in cash... Ill be the first to admit... Parents helped with the down payment on the house, and I paid for the car in cash on delivery.... not bad for a twenty-something
Late twenties? Paying for a car in cash is a great idea, so as logn as you have enough cash to spare for a brand new car.
E90-4life is offline  
0
Reply With Quote
      03-24-2006, 09:57 PM   #22
Ghunger
Major
 
Ghunger's Avatar
 
Drives: 330i
Join Date: Sep 2005
Location: Seattle, WA

Posts: 1,025
iTrader: (0)

Quote:
Originally Posted by bavarian19
Im sorry... The best financial situation you could put yourself in is to save up your money and buy a townhome/condo/house. When you buy a 40k car, you are buying a lead baloon. Atleast with a place to call home, you will not lose much money. If you live in the right areas (such as where I do), there is a good chance to make money on your place, and you will be that much better off...

I figured I would do the best of both worlds... Buy a house first and then pay for a 325 in cash... Ill be the first to admit... Parents helped with the down payment on the house, and I paid for the car in cash on delivery.... not bad for a twenty-something
Everyone's situation is different though. Personally, I'm taking the pay cash for a 330 then save for a downpayment on a house approach. That way I won't have to worry about car payments while I'm paying for my house. Also using the car as collateral for a small new car loan is an easy way to get a great credit history so you can get better loan offers. Like I said, everyone's different.
__________________

330i Monaco Blue, Terra /w aluminum trim, SP, PP, CA, PDC, Nav, Folding Seats, Sat Prep
European Delivery Blog
Picture Gallery
Ghunger is offline   United_States
0
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:03 AM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST