Thread: Purchasing?
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      01-14-2013, 01:41 AM   #12
M3Eddy
Private First Class
 
Drives: M3
Join Date: Jul 2012
Location: LA

Posts: 124
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Quote:
Originally Posted by NHman View Post
OP, like Chris S, I'll take the high-road as well. At 16 years of age, even if you are making "good" money, the issue will be length of credit history especially with an installment loan against (roughly) a $70k vehicle. Even if you went with traditional financing with a significant down-payment, it would be difficult. You would need a co-signer with the credit rating and DTI to offset your "newness" to the credit world.

I don't know what your financial status is and frankly it's none of my business. However you may want to next steps by starting with a used M3. Perhaps the E46 model which was the last generation. It's still a very good car. Establish a credit history and move forward. Otherwise I will not preach about the priorities in life whether investments, education, etc over a new M3.....that's for people around you to provide counsel.
Thanks for the advice mate. +1
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