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      07-02-2013, 05:51 AM   #170
k-lo
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Drives: 2011 M3 ZCP, 2012 X5 35d
Join Date: Aug 2012
Location: Las Vegas

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Quote:
Originally Posted by Endless619 View Post
Negative, new guy on the forum. We are getting a lot of you kids these days. lol

I have owned 10+ cars since 1990 and can tell you from 23 years of experience that buying a car thats $1200 a month is plain stupid. Sorry its true. I don't care what percent you have, it is just not a smart move for everyone. I can go on all day long.

Some folks on here make $2500-$3000 a month take home and are leasing an M3 at $800-$1200 a month. Is that smart to you? Where is his room for living expenses, rent, mortgage, savings, gas, food etc.? He has none = not a smart move. Look I am going by what I have read on what some folks make on here. It all depends on what you make, period. Saving doesn't take decades either there buddy. Again back to what you make.

Living in the Bay Area I paid $2500 a month for rent while I was temporarily there. If I am taking home $3000 a month where can I afford the $1200 a month payment? Does that make any sense?

BTW I put down over half or 75% when I buy a car, sometimes I pay cash. So for me and my situation if I am paying $1200 a month on a car it better be a damn 458 Italia not some 3 series BMW.

I paid $50k cash 2 years ago for my X5. Done. I put down half on my M3. Done. No $1***.** car payment.
oh man, now I feel that I should say something, without divulging how much I really make, I pay $1300 a month on my M3, and no I didn't bite the bullet on financing charges my rate is really great, I only put $5k down because I opted to use my liquid funds to invest in other things instead of tying it up on the car. My total financing cost is around $5k. I'm certain I'd make more out of the free funds I have in 4 years than putting it towards the car and save me $2-3K in interest payments. I think if what your doing works for you then great more power to you. BTW if you think you can get in the seat of a 458 for $1200/mo then you don't know the certain demographics and psyche of people buying those cars. If that was the case, the down payment would have been close to $180-$200K, at that point the new 458 owner should have just wired the full amount which knowing these types of people they can and will.