Quote:
Originally Posted by chitown08
I dunno why everyone is laughing at this guy. Thinking about the cost to own a car is smart in my opinion. Not everyone is celebrity rich and able to purchase a $60k vehicle like its a slurpee. Some of us love nice cars and wish to stretch our hard earned money as far as possible. What he laid out is smart and simple. I have also thought about these numbers to see if I can justify laying out the money for a new M3. And it doesn't take more than 10 minutes...
Your numbers look pretty reasonable. Edmunds.com does a similar analysis of all vehicles. I messed around a little and it looks like u should expect more financing expense. On a $38k vehicle(58-20) with 700 per month pmts, 5% interest, you're lookin at closer to $1500 per yr financing at least, cuz that is a conservative estimate with 5%... 70% residual is consistent with current M3's and I can't imagine how e90's could possibly be worse. Other than that I would just think about insurance hikes for a 400hp bmw. But overall, your estimates look good.
Good luck
dear accountant hater,
I am one  |
He he, glad to hear your feedback. I tried the edmunds thingy, but didnt agree much with their numbers. Agreed on the interest, I think I pay about $80 per mo on my $28k loan.
Glad to hear about the 70% over 3 years, I think if you get an early M it could be higher if sold private party (I'm assuming this will be a hot car for the first 18 months alone).