Quote:
Originally Posted by gluck75
Come on now...first off, the guy works hard. I'm 31, and I have never owned a damn thing.
It's about priorities. At age 22, I would have chosen the car over Real Estate as well, and i'm sure just about almost everyone on the board, when they were 22 would have made that same choice.
Let's also realize this. Let's say that his car payment is $500 a month. That's 6k per year. If he wants to live in NYC, his mortgage payment will be around 3g a month for the smallest livable apartment. So he delays his real estate purchase for a 2 months...it's a good trade-off in my book, but to each his own.
Also,he is 22. If he wants to buy real estate, at favorable terms, he is going to have to establish some "hard" credit. The Bimmer does that for him.
There is a trend on this board, that has been here for the year I have been a member, to flame young BMW owners. And i've been part of that because I think a lot of the sub-25 year olds got the car from mommy and daddy(an utter disgrace) but that's not what happened here.
The guy is also doing a damn fine job at selling me my first mortgage, which hopefully I will be signing any day now.
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Well said.
I think the key point there is that relative to NYC real estate a 325i E90 is a pretty minor purchase decision.