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      10-29-2012, 02:33 PM   #21
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persian54's Avatar

Drives: P-TurboS. E93M3/335i/Z435i/M5
Join Date: Jun 2009
Location: The Valley, SoCal

iTrader: (298)

a 08-09 won't have warranty for much longer, if any (08s should be out of warranty as it's 2012 now)

N54 maintenance is going to be higher than an e46

Originally Posted by smohr33 View Post
Put the numbers on paper and it will make more sense. Please don't take offense to any of this, I'm just a realist.

You have income of $3600 a year plus your internship. I have no idea what your internship nets you but say you bring home $10000 for both jobs after all is said and done.

If you're car payment is $450 a month, you're spending $5400 a year on just payments. Then you have to insure it ($1000+), and put fuel in it ($1000+). You're now spending 75%+ of your income for this car, and those are conservate figures as I'm sure you're insurace will be higher (assuming under 25, 300hp $30-40k car). You have $2500 left to eat, pay off student loans, spend on discretionary items, etc... Even if you're bringing home twice as much, you're still spending way too much of your income on the car.

It doesn't add up. This is basically a case study of why so many Americans are in debt. Go lease a Honda Civic for $100 a month to get you through college. You'll have a warranty, a safe reliable car, and money to live. You can always buy the BMW when you get out of school and get a good job.
While I agree with everything you said... where the hell can you get a civic for $100/month?

When I first read it, i thought the op said he was making 300/WEEK, and i thought "ehhhh not enough but if he really wants it.." then i read that it was per MONTH
No way .

For 450/month.... if you're making 1200/month...not enough but... if you cut out other stuff it's doable... barely. but you should be at 2k-2500 minimum if you're going to spend 450/month on just payments. and I'm speaking as someone who had a luxury car in college (C230, though lease payments were under 400/month).

Don't do it.