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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > General E90 Sedan / E91 Wagon / E92 Coupe / E93 Cabrio > how do u guys afford all the mods



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      04-27-2013, 04:00 AM   #199
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I have a Masters Degree. Never even mounted it, probably in the bottom of my closet somewhere. School is a joke. Once you know the game, it's like shooting fish in a barrel. I graduated from my Master's program with a 4.0 and never even tried...and we are talking about a D1 school, not some online Phoenix bullsh*t. Completely overrated.

As far as money goes, I've spent money on my car but only when it comes to required maintenance. Otherwise I just put gas in it...
I know that having a masters opened the door to people taking me a little more seriously. Mine also isn't mounted from A&M. Some fields require the higher degrees some don't. Being in a lucrative growing field is more important in my opinion.
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      04-27-2013, 07:33 AM   #200
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I'm amazed at the number of posts saying, "parents paid for college", "living at home", etc..
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      04-27-2013, 08:07 AM   #201
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Originally Posted by MurderedBeemer
My 335i was given to me from my parents, and they pay for my mods, although I don't always ask for parts! They say they rather pay towards mods then drugs or alcohol I also have a part-time job which all my money is saved up for to buy a condo. I'm still in school though
Isn't that cute...
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      04-27-2013, 03:09 PM   #202
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my car is my only hobby having a gf helps u save to spend on your car cuz when im single..... money gets blown
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      04-27-2013, 03:29 PM   #203
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does the last category make you condescending and a bit offensive or is that just you? I went to school. Worked hard.
7 years of school after highschool, but not gonna ridicule fellow bimmer lovers for finding a quicker way there. no need to offend people.
lol sounded elitist to me too.. But even though I have tons of access to liquidity as a youngin' I do 18+ credits double major, almost 4.0 at a top 10 school and still internship. But I guess that last part means I sit at home and make nachos like in step brothers

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      04-27-2013, 08:51 PM   #204
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      04-27-2013, 09:45 PM   #205
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I'm 23 and bought my first BMW six months ago (328i LCI e90). I worked hard for what I have, and everytime I drive to and from work, and glance at the driveway, it's all worth it.

Hard work really does pay off. As to your question, I plan carefully for mods. It would be reckless to impulsively purchase modifications.
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      04-27-2013, 10:47 PM   #206
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Hard work and luck

Most interesting thread i've read.

27 years old doc (surgical trainee) work hard, but paid well for it. Lucky to have great family and inherited my dad's E90 325i SE last year. Wanted to make it feel like mine so started modding.

I like that that it's personal. Some people say save up and just buy a better model, but it's about making it unique. Also someone could be rich and afford whatever they like but won't built the same car as you and won't have the same feeling of investment and pride in getting there.
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      04-27-2013, 11:25 PM   #207
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WORK.
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      04-28-2013, 12:03 AM   #208
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If a person can afford a 25-50k$ car, but yet can't save up the measely 2000$ it takes to do all the bolt on mods under the hood, or doesn't even have the credit available for that. Then they are doing something wrong. Tapping out every ounce of credit you have on a car is a pretty dumbass move.

Even if you add wheels to the equation. A set of VMR's with tires costs 2k-3k. For 5k you have a 400+hp power plant with beautiful wheels. This has to be the cheapest bang for buck car I have ever owned.
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      04-28-2013, 12:22 AM   #209
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      04-28-2013, 02:01 AM   #210
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lol sounded elitist to me too.. But even though I have tons of access to liquidity as a youngin' I do 18+ credits double major, almost 4.0 at a top 10 school and still internship. But I guess that last part means I sit at home and make nachos like in step brothers

middle of my house party, check e90post. scene from stepbrothers. kinda made me go for the tortilla chips and guac... will reread the message in the morning.
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      04-28-2013, 02:40 AM   #211
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Originally Posted by andyzdeman View Post
Most interesting thread i've read.

27 years old doc (surgical trainee) work hard, but paid well for it. Lucky to have great family and inherited my dad's E90 325i SE last year. Wanted to make it feel like mine so started modding.

I like that that it's personal. Some people say save up and just buy a better model, but it's about making it unique. Also someone could be rich and afford whatever they like but won't built the same car as you and won't have the same feeling of investment and pride in getting there.
Word... I thought about going and buying a GTR and throwing an Alpha 12 on it and I don't think I'd care about it the same as the first car I've ever really modded and wanted to take care of I've thought about selling this car to get something crazy but I think It'll sit in the garage for 20+ years when its all said and done
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      04-28-2013, 06:23 AM   #212
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Originally Posted by Viktimize View Post
If a person can afford a 25-50k$ car, but yet can't save up the measely 2000$ it takes to do all the bolt on mods under the hood, or doesn't even have the credit available for that. Then they are doing something wrong. Tapping out every ounce of credit you have on a car is a pretty dumbass move.

Even if you add wheels to the equation. A set of VMR's with tires costs 2k-3k. For 5k you have a 400+hp power plant with beautiful wheels. This has to be the cheapest bang for buck car I have ever owned.
The secret to success in your financial life is to pay for things like this with cash. Putting mods on credit isn't exactly smart long-term.

By the way, I'm a CISSP too.
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      04-28-2013, 06:39 AM   #213
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The secret to success in your financial life is to pay for things like this with cash. Putting mods on credit isn't exactly smart long-term.

By the way, I'm a CISSP too.
I agree, figuratively speaking. I think that looking at things from a cash basis makes it real. Think about it, say you go to a bbq at the in-laws, and a poker game starts, and you lose $60 that came out of your wallet. How do you feel?

Think about this, say the S&P 500 goes down 0.004 in a day, and in your 401k the balance goes down over 2k.

Do you feel worse at the poker game, or when the S&P 500 goes down 4 tenths of a percent. imho you feel worse in the former, because that's cold hard cash out of your wallet.

I always do things cash, BUT, I really mean through a rewards credit card, because that earns a cash reward (like my credit union card is 5% unlimited on gasoline--everyone needs gasoline, so why not get 5% back). BUT UNDER NO CIRCUMSTANCES SHOULD A BALANCE BE CARRIED ON A CREDIT CARD. Should be paid in full every month.

Another example, do you pay your property taxes to escrow, or pay on your own? Of course you want to pay on your own, and make sure the banker gives you the same rate as if you paid escrow. Now you pay yourself every month, say to an ALLY Bank online savings account. When the taxes are due, you transfer to your ALLY Bank checking, and write the check. You earned the 0.0084 on the money, not the bank, this way....
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      04-28-2013, 07:11 AM   #214
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I agree with all the guys about using cash. I drove an Acura Integra throughout college. Paid for that cash. Worked three jobs at one point to pay for school. ZERO debt when I graduated . Yes I lived at home and had to give up independence. I did not go out and buy a car like so many people did as a graduation present. I gotta first job and saved my money. I gave my brother my Integra after I bought my 335i with CASH ! That was at 27 years old. Now I am 31 and ready to buy 550i or x5 cash. I also have my house paid in full. Credit score means nothing to me. And no one can come knocking on my door to take what is not theirs.
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      04-28-2013, 07:22 AM   #215
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I also have my house paid in full.
I'd like to know how you did that.

And I thought I was in good shape taking a 30 yr. mortgage and refi'ing down to 10 yrs.
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      04-28-2013, 07:39 AM   #216
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I'm amazed at the number of posts saying, "parents paid for college", "living at home", etc..
If you aren't being a d!ck about those things above why should you be accosted on the internet if you have parents in that position to safely help? But the internet is an amazing place it gives entitlements to all
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      04-28-2013, 07:50 AM   #217
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I'd like to know how you did that.

And I thought I was in good shape taking a 30 yr. mortgage and refi'ing down to 10 yrs.
With these low rates it doesn't make sense to pay off mortgage if you invest the same amount and get 4% or more. Debt is not always bad.
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      04-28-2013, 07:59 AM   #218
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With these low rates it doesn't make sense to pay off mortgage if you invest the same amount and get 4% or more. Debt is not always bad.
I'm still curious how a person pays off his house by 31. Get out of college, first job pays 70k. Works like a SOB and gets along with everybody, ends up making double that before 30. Realistically maybe bought the house at age 28, because starter homes are at least 500k these days, so I don't see someone saving up the downpay earlier than 28 (125k?). yet it's paid off by 31. Just like to see the technique and how it's done by a 31 y.o. master.
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      04-28-2013, 08:58 AM   #219
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work is how I pay for mine.

I try to control my modding by focusing on functional changes (those that benefit how the car drives) and minimize expenditures for cosmetic changes.
I've "justified" some of the expense by giving my stock parts (suspension for example) time to wear themselves. That way, when I'm upgrading, I'm also replacing wear and tear. I also justify it by DIY'ing as much as possible and learning from the process.

It also helps to research and go slowly...too many posts from folks who install one thing and then decide to go in another direction.
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      04-28-2013, 05:47 PM   #220
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With these low rates it doesn't make sense to pay off mortgage if you invest the same amount and get 4% or more. Debt is not always bad.
Very true - but it's WHAT you take debt on that makes the difference. For example, the BMW CPO car loan runs 0.9% if you have a good credit score (I think > 700). That's almost giving the money away.

John070 - Starter homes may be $500K where you live, but in a town like Buffalo, for example, you can get a decent place for $90K. PS - The only people I've ever seen make $70K out of college are actuaries with a GPA > 3.8.

335iRlz - I'm very happy your parents are in a position to help. And you're smart for taking it - you can build a down payment for your first home. It's just a generational thing. I graduated from college in '82, and back then, you moved out as soon as humanly possible. Just a different time, and I respect that and you.
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