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      11-13-2011, 05:00 AM   #67
luis_m3
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Whatever happened to good (informative) threats? It seems to me like people just want to discuss their lifestyles lately... no offense, but this threat has nothing to do with M3s.
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      11-13-2011, 06:46 AM   #68
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Seriously, you don't have to preach any of that to me. I'm a combined Anesthesiology / Critical Care Medicine trainess and going into CT + ICU so if that doesn't tell you something about me, I don't know what else. I go to work every day with a smile no matter how hard it is. If I didn't believe that we are making a difference in other people's lives, I don't think any of us would be wanting to get to go to work every day. It's the thought that being compared to the greedy Wall Street execs irks me the wrong way.
A lot of people will always look at those who are well off and be jealous. It is human nature. They have simply no concept of what it took to get there, and what it takes to keep up that lifestyle.

The problem is the media. To appeal to the masses (so they can make more money...how ironic is that!!!) they portray anyone with money as "greedy" and "filthy rich". Of course it is the few greedy financial crooks that make the news, and of course the media likes to sensationalize this.

And forget about medicine for a while. Even some people who make the really big bucks have had to work their asses off to get there. People complain about the salaries of some top executives, yet fail to recognize the ongoing responsibility these people have. They are the ones who have the responsibility for keeping the middle class employed!!! I look at the CEO of my own hospital. He makes some pretty big bucks, but if the hospital closes, 1500 people will lose their jobs, benefits, etc.

What about the business owner who worked 18 hours a day for years to get that business going and make it successful? In reality, those media portrayed "wall street types" who made easy money by exploiting others are very few. At some point wealth can become self-sustaining, but there is usually a story of long hard work to get there if you look back. The masses don't want to hear this, however.
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      11-13-2011, 07:02 AM   #69
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Originally Posted by luis_m3 View Post
Whatever happened to good (informative) threats? It seems to me like people just want to discuss their lifestyles lately... no offense, but this threat has nothing to do with M3s.
The e92x M3 is near the end of its lifespan. Most of the real informative stuff about the car has been discussed already many times over. This is just the nature of car forums. When a car is new, there is a lot to talk about. As the model ages, there is less and less to really talk about with respect to the car itself, so discussions tend to take different paths.

I am still happy to discuss things about the M3, since for me it is a new car still. However, most information on the car by now can be easily searched or found elsewhere online.

When the next gen M3 hits the market, the talk will be all about the car again.

As for this thread, it is about many of the types of people who are M3 owners.
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      11-13-2011, 09:48 AM   #70
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The e92x M3 is near the end of its lifespan. Most of the real informative stuff about the car has been discussed already many times over. This is just the nature of car forums. When a car is new, there is a lot to talk about. As the model ages, there is less and less to really talk about with respect to the car itself, so discussions tend to take different paths.

I am still happy to discuss things about the M3, since for me it is a new car still. However, most information on the car by now can be easily searched or found elsewhere online.

When the next gen M3 hits the market, the talk will be all about the car again.

As for this thread, it is about many of the types of people who are M3 owners.
+1. So true. Many, not all, of the topics seem to be recurrent themes from new users. Most answers can easily be found by a simple search. Although, I still try to help on certain topics that I happen to have first hand experience.
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      11-13-2011, 11:20 AM   #71
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... the simple fact my family is healthy, none of my kids have any disability or illness, and we have all the necessities most folks take for granted (emphasis). Hard to ignore when you see hundreds of households living in cardboard houses across the Rio Grande when going to the office. Have a good one folks.
Taking this stuff for granted is exactly what too many people do, myself included too often. Well-stated and understood.

It's hard to see how anyone who has posted in this thread cannot feel anything but "rich." (I don't mean that as judgmental.) Even the possibility of a BMW is something beyond the life of most people.
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      11-13-2011, 11:58 AM   #72
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Fixed that for you. We don't wanna threaten anybody here.
Thanks, and sorry if I offended anybody. I know we can find the threads with a simple search, but subjects like these are just way off topic. In the end, I don't care... it is in fact a public forum after all.
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      11-13-2011, 01:41 PM   #73
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Try going to a private school and you'll see the difference. State schools and the Canadian system are highly subsidized. Going to BU for 4 years of DDS back in 2005-2009 would set you back >200K just on tuition.
When it's all said and done my schooling will total about 300k. Also, Dental schools aren't nearly as subsidized as medical schools (if at all). That is the average going rate for a dental school nowadays (regardless of country) with some being higher and some being lower. Then, other variables come into play, i.e. in-state vs out of state tuition. In my case it jacks up the tuition by another 30k per year.
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      11-13-2011, 02:39 PM   #74
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Very inspirational! I'm finishing up internal medicine and starting cardiology fellowship in June...there are days when I wonder why didn't pick a regular 9 to 5 job; but it's great to hear you expound on why i chose medicine in the first place.

+1
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      11-13-2011, 05:22 PM   #75
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I'm hoping he is a gigolo because that would be a really awesome profession! If not, an accountant. The best of either extreme
Mate, gigolos have to f*ck some not so attractive women (ie 'fugly') and per "Hung" on HBO, the better-paid ones 'do' other dudes (not that there's anything wrong with it ). No thanks! I'll take the CPA role.
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      11-13-2011, 05:32 PM   #76
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      11-13-2011, 05:38 PM   #77
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This place makes me LOL, it seems like every thread on this site turns into a "I make this much per year" thread.
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      11-13-2011, 06:18 PM   #78
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I know it's all relative, but 350k, esp. pre-tax is not "rich" by any means in my book. I would consider that upper middle class.
Okay, so by your definition, the 99th percentile for income is upper middle class.

Honestly, I think you have lost perspective on how most people really live.

If your world is the affluent areas of Socal or the Northeast Corridor, you are skewed in terms of what you see. Even so, the facts are the facts. If you have a household income of greater than $250k, you are at the 95th percentile, and that qualifies firmly as upper class aka "the rich".

The super wealthy, the one's with self-sustaining wealth from investements and interest alone are less than 0.1%, but remember that this is still about 120,000 households in the U.S. That can seem like a lot, especially when you are driving around a high end suburb with house after house that is well into 7-figure pricing, but put into real perspective, it is a very small amount.
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      11-13-2011, 06:36 PM   #79
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finanace means cant afford the car? If he spends the $170,000 in stocks he can make it a double or triple rather then paying a car that depreciates every year
Maybe you can tell us all which magical stock market you are investing in these days.
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      11-13-2011, 07:02 PM   #80
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Maybe you can tell us all which magical stock market you are investing in these days.
+1. I actually think a high end car this past year may have even held it's value better than many investments !!!
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      11-13-2011, 07:26 PM   #81
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I know it's all relative, but 350k, esp. pre-tax is not "rich" by any means in my book. I would consider that upper middle class. It's definitely a nice income, but most who buy cars like a turbo s are making much much more. I don't know the intentions of the SA. In the ideal world they should not make assumptions and treat everyone fairly.

That income would be really pushing it without a down payment even for a turbo, let alone a turbo S. It would be around 3k a month without a down payment. However, it does depend on ones lifestyle and what makes one happy. I think it's important to keep a DTI ratio around 20 to 30 max. Being car poor would suck. I see people doing it all the time. Most people I know with a similar income as the OP, some of whom are car enthusiasts, would not spend near that much and are very smart with their money. In my opinion, a good rule of thumb for max car price would 40% of ones pre-tax income. Therefore, for 250k, I would say about 100k max. Again, just my opinion. Someone mentioned that he might be a new physician. That's certainly possible as they usually don't have much credit and sometimes make big purchases as soon as the money starts rolling in...often times it's bad idea simply due to bad timing. I can understand the urge after so many years in training. I also agree that physicians on the whole more than anyone have an income that is well deserved.

Good luck OP. I hope you get that 911ts ASAP.
This starts to get to the main point. No arguments that 250k makes for a very fine living. However, a turbo s isn't just for someone with a fine living. The car basically loses 40% in 3-4 years. AND you just would only drive the car on the weekends because if you drove it daily it would lose a lot more than that. Thats why it typically is the 3rd or 4th car in someone's garage. Exactly, being car poor certainly isn't smart. No more comments from me on the logic of owning the "dream" car in your 20s - hey maybe your a movie producer. If you get that dream m3 in your 20s, you really hurt your chances of a real dream Ferrari in your 40s.
On tri state Porsche dealers, New Country in Greenwich always took very good care of me. Once, when there were no salesmen around, the service manager took me on a test drive. Talk about no obligations! As expected, they try to overcharge for their cars, the the service area is very good - especially if you are under warranty!
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      11-13-2011, 07:41 PM   #82
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Okay, so by your definition, the 99th percentile for income is upper middle class.

Honestly, I think you have lost perspective on how most people really live.

If your world is the affluent areas of Socal or the Northeast Corridor, you are skewed in terms of what you see. Even so, the facts are the facts. If you have a household income of greater than $250k, you are at the 95th percentile, and that qualifies firmly as upper class aka "the rich".

The super wealthy, the one's with self-sustaining wealth from investements and interest alone are less than 0.1%, but remember that this is still about 120,000 households in the U.S. That can seem like a lot, especially when you are driving around a high end suburb with house after house that is well into 7-figure pricing, but put into real perspective, it is a very small amount.
I have not lost my perspective. I just think that the term "rich" is relative. 250k makes up about the top 1.5% of households. There are various classification systems in place to define rich. See the second link below. A quick google search reveals that in 2009 there were around 3.1 million high net worth individuals (HNWIs) US with a net worth greater than a million and 980,000 with a net worth greater than 5 million.

It's also important to keep in mind that this percent is household income and not individual income. That's a significant difference. If you are talking about two married professionals, making 250k is fairly common. 42% of households have three or more earners with 20.5% of households having incomes >100,000 and only about 6% of individuals with incomes >100,000.

http://money.cnn.com/2010/03/09/news...ires/index.htm
http://en.wikipedia.org/wiki/Affluen..._United_States
http://en.wikipedia.org/wiki/Persona..._United_States

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      11-13-2011, 08:47 PM   #83
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+1. I actually think a high end car this past year may have even held it's value better than many investments !!!
Ha ha exactly. I've gotten my ass handed to me and I know I'm not the only one.
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      11-13-2011, 09:32 PM   #84
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Is that 1 word or 2 words?


Where I come from an ass is:

http://www.strangehistory.net/2011/0...ecame-a-saint/

But arsehole on the other hand is very clear
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      11-14-2011, 02:53 AM   #85
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250K is a lot of money, but in the end its all relative to your debt. Oh yeah keeping mind that 250-350k translates to 130-200 take home pay after obama and your state have their fun with your rectum. Now factor 2 kids with another one on the way and loans to pay off/morgage, doesnt really leave you with too much pocket change to lead that rich lifestyle. But yes all in all all of us on this forum are very fortunate in being able to afford 70K+ cars.
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      11-14-2011, 03:13 AM   #86
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Did you at least get to drive it?
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      11-14-2011, 09:37 AM   #87
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I dont want to say exactly how much I make or anything, but its less then the OP. And I own an M3, Evo IX MR and just bought a 335i. I also own a home and pay a mortgage. My GF is still finishing school and doesnt make much of anything right now. Anyways, my point is that I easily afford this stuff because of lifestyle. We arent married and dont plan on having kids any time soon. I have friends who make what I do and they're struggling to make payments on a house because they've decided to start a family and have 2 kids now. I think much of this stuff is all relative with living situation. I also have a dumb ass friend who pays like $500 a month in rent on a small apartment and owns an M3 ha.

You only live once. If you're making $250k a year and your living situation allows you to afford a Turbo S then find a dealership that will sell you one and get it done !
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      11-14-2011, 12:04 PM   #88
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As someone who was a car salesman, the salesman probably just realized that if OP wasn't going to get approved it wasn't worth wasting his time trying.

Car salesmen are VERY BUSY!
I'd have to agree, a true salesman would have made a deal that day, regardless. Always Be Closing. Leads are shit, you are shit. I don't understand how they didn't hook the OP with another car, a lease or something else.

If I were the sales person, I would have put the OP in a nice pre-owned GT3 or something so he wouldn't lose as much equity as he will with the M3, and put him on a schedule for a Turbo S in 16-24 months, I definetly would not turn the sale down and send him away...then again I'm not in sales.

In terms of 250k and rich, I think 250k and you are well-off, I also think 250k is not a straight number, the calculation is different and it depends on how much you pay in taxes. For example my GF is in sales and while a majority of my income is salaried, her commission is killed with taxes, so while before taxes we are close, after taxes I'm far ahead. Further, somepeople route expenses through their companies and 250k, is really like 500k to others because of write-offs. Or Dr. paying insurance...etc. It is really difficult to level the playing field of salary, 100k+ in north or south carolina is living, in NYC not so much.

Money is a funny thing, as soon as you think you are 'making it' you start to figure out that making it is 100x what you are doing.
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