BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > General M3 Forum (E90 + E92 + E93)
 
VF Engineering
Closed Thread
 
Thread Tools Search this Thread
      02-14-2013, 07:55 PM   #1
dream3rr
New Member
 
Drives: 328xi
Join Date: Dec 2012
Location: Calgary AB

Posts: 6
iTrader: (0)

Early twenties, looking at an M3

I'm 22 and I'm currently employed making $60k/yr. I have no debt.

I have no desire to move out yet, so I've got the next 3 or so years to get the ball rolling on my own place.

The M3 is a splurge I may not deserve at this point, but given my particular situation, is it doable? I have a deep love for cars and I feel like owning an M3, especially this particular generation, would be something I would look back on in a few decades with a huge smile.

What do you think?
dream3rr is offline  
0
      02-14-2013, 07:58 PM   #2
SROC5
Addicted to Track
 
SROC5's Avatar
 
Drives: E92 M3
Join Date: Apr 2009
Location: USCON

Posts: 1,548
iTrader: (3)

It's doable, life's too short.
__________________

| Akrapovic Evo | ESSi | Swift Spec-R | CF Spoiler | APEX ARC-8 | RS-3 | PFC-08 | DIF |
SROC5 is offline   United_States
0
      02-14-2013, 07:58 PM   #3
robotk
Second Lieutenant
 
robotk's Avatar
 
Drives: e90 m3
Join Date: Jan 2013
Location: SE

Posts: 269
iTrader: (1)

Quote:
Originally Posted by dream3rr View Post
I'm 22 and I'm currently employed making $60k/yr. I have no debt.

I have no desire to move out yet, so I've got the next 3 or so years to get the ball rolling on my own place.

The M3 is a splurge I may not deserve at this point, but given my particular situation,
is it doable? I have a deep love for cars and I feel like owning an M3, especially this particular generation, would be something I would look back on in a few decades with a huge smile.

What do you think?
Nope
__________________
1993 e36 325i, 1999 e46 328i, 2005 ap2 s2000, 2007 WRX STi, 2008 g37s coupe, 2009 Audi a4 2.0T Avant
robotk is offline  
0
      02-14-2013, 08:03 PM   #4
Red_Baron
M3Post Handyman (LucWERKZ)
 
Red_Baron's Avatar
 
Drives: e70 X5 4.8i (Temporarily)
Join Date: Dec 2011
Location: DC/VA/MD/PA

Posts: 1,209
iTrader: (1)

Save money and buy used, then use the saved money on all the girls you'll be getting in the M (Sorry I mean dudes because the M3 is a total dick magnet).
__________________
Former e92 M3 owner
Relapsed M3Post addict
Hopefully getting back into another ///M soon (or P-Car)....P-car as in Prius.
Red_Baron is offline   No_Country
0
      02-14-2013, 08:04 PM   #5
KrackerXL
Lieutenant
 
Drives: 135i
Join Date: Oct 2009
Location: COrona,

Posts: 410
iTrader: (1)

I did it when I was making 60k. I leased mine at first as I didnt drive much and the 840 payment wasnt a big deal with 5k coming in.

Now I make way more and bought one so your call essentially.

Oh im almost 23.
KrackerXL is offline  
0
      02-14-2013, 08:04 PM   #6
p-streets
M3NTAL
 
Drives: 09 E92 M3
Join Date: Jun 2009
Location: LAND OF THE LOST TEXAS

Posts: 298
iTrader: (1)

do it
p-streets is offline   United_States
0
      02-14-2013, 08:15 PM   #7
1MtoM3
HayZeus
 
1MtoM3's Avatar
 
Drives: 2012 E92 M3
Join Date: Jan 2013
Location: Brossard , Canada

Posts: 302
iTrader: (0)

Do It To It !!!!
__________________
BLOME !!!

MW E92 , Turner test pipes , Vorsteiner Titanium catback, TMS spacers, ESS remap , KW sleeves.
1MtoM3 is offline   Canada
0
      02-14-2013, 08:18 PM   #8
Fanta
C
 
Fanta's Avatar
 
Drives: 740iL, M3, Carrera & C320
Join Date: Jan 2009
Location: Ottawa

Posts: 537
iTrader: (1)

Buy a M3 or lease a Porsche 991s.
Fanta is offline   Canada
0
      02-14-2013, 08:19 PM   #9
mscdman
Private First Class
 
Drives: 335xi
Join Date: Jan 2011
Location: Denver

Posts: 150
iTrader: (0)

When I was 22 I drove a 92 corolla. And I also had a decent job out of college. I'm 35 now doing much better and just felt comfortable getting a USED M3.
mscdman is offline  
0
      02-14-2013, 08:37 PM   #10
anacondatp
Private First Class
 
Drives: 10' E92 M3 6MT
Join Date: Mar 2012
Location: SoCal

Posts: 170
iTrader: (2)

if you have no pmt on house/rent or food, it's perfectly doable. like a few said, buy used, no difference between 2011 and 2013. save you money and still get you the dream car
__________________
10' E92 M3 6MT
anacondatp is offline  
0
      02-14-2013, 08:40 PM   #11
dream3rr
New Member
 
Drives: 328xi
Join Date: Dec 2012
Location: Calgary AB

Posts: 6
iTrader: (0)

Quote:
Originally Posted by mscdman View Post
When I was 22 I drove a 92 corolla. And I also had a decent job out of college. I'm 35 now doing much better and just felt comfortable getting a USED M3.
What made you wait and why was that the right decision for you at the time?
dream3rr is offline  
0
      02-14-2013, 08:46 PM   #12
motosan
Private First Class
 
Drives: 2011 E92 ZCP M3
Join Date: Oct 2010
Location: CA

Posts: 109
iTrader: (1)

Red face

The best is to get a 1-2 yrs old mint condition used M3, so you get both of the worlds.

Everyone is different, and some people may regret not getting the M sooner, but others may regret not saving enough money. Bottom line is, although life is short, but it is never about how much you make but how much you save. The older you get the clearer you will see how beneficial it becomes when you add up those little savings from skipping a Starbucks or dining at home or not going to the movie theater.

And, being less relevant, you may love your M but I doubt you will love BMW's dealership services... Trust me, BMW's service does not live up to its price tag. So you may get buyers remorse not from paying a brand new M but the crappy brand equity that comes with the car, lol....

Get a used one and be familiar to BMW as a brand so you can accurately set your expectation and minimize your buyers remorse.
motosan is offline   United_States
0
      02-14-2013, 08:48 PM   #13
mscdman
Private First Class
 
Drives: 335xi
Join Date: Jan 2011
Location: Denver

Posts: 150
iTrader: (0)

Quote:

What made you wait and why was that the right decision for you at the time?

Why did I wait? Because spending all my money on a car and therefore being unable to do things with my friends, buy nice clothes or otherwise enjoy seemed like a poor decision.

People these days base their decision on "do I make enough to pay for this" rather than "Do I make enough to comfortably do this without sacrificing other things in life that I may want/need".

It's up to you. I guess I just don't understand the purpose of posts like this. None of us are your personal finance advisors. Only you know your current financial situation.

Can you afford 550 a month on. A 60k salary? How would I know. For all I know you have a 2500 rent bill, were injured in a car accident and have medical bills up your ass. Only you can decide what's right for you. No one on this board can for sure. So why post?
mscdman is offline  
0
      02-14-2013, 08:49 PM   #14
daniyo
Space Gray ZCP
 
daniyo's Avatar
 
Drives: E92 M3
Join Date: Aug 2008
Location: Los Angeles

Posts: 138
iTrader: (2)

Garage List
2011 BMW M3  [0.00]
I'd look into a CPO M3, or even a non CPO'd pre-owned 2011.5+ with a few years on the warranty left.

Try to see if you can find one within your price range, that's clean with fairly decent mileage (I'd say < 20-25K). With any vehicle purchase, initial buying price isn't the only thing you need to keep in mind... it's the miscellaneous maintenance fees that will add up in the long run (engine/brakes/tires/oil changes, the list goes on).
daniyo is offline  
0
      02-14-2013, 08:53 PM   #15
llis
octane chick
 
llis's Avatar
 
Drives: Ms
Join Date: Oct 2010
Location: Colorado

Posts: 1,115
iTrader: (1)

Garage List
2003 BMW M5  [0.00]
2002 BMW 530i (fs)  [0.00]
2013 BMW M3  [5.00]
1998 BMW M3 (GTS-2)  [0.00]
Quote:
Originally Posted by dream3rr View Post
I'm 22 and I'm currently employed making $60k/yr. I have no debt.

I have no desire to move out yet, so I've got the next 3 or so years to get the ball rolling on my own place.

The M3 is a splurge I may not deserve at this point, but given my particular situation, is it doable? I have a deep love for cars and I feel like owning an M3, especially this particular generation, would be something I would look back on in a few decades with a huge smile.

What do you think?
What do you think? That's what counts!

When I was 22, I drove an Olds Cutlass, and I don't look at that as some badge of honor. It was a boat. I've always loved cars, and back then I was wanting a Mustang or Camaro and I seriously doubt that today I'd be looking back with any regret if I had gotten one back then.

If you do get a used E9x M3, be sure you can afford the risk when the car's out of warranty. It's a complex car and quite suddenly you could easily have a $2k+ repair bill. If you love the M3 and aren't sure about the E9x, I don't think you'd be going wrong with an E46 or E36, either. Get a car you love.
__________________

2013 E92 ///M3 ZCP 6MT Speed Yellow 1998 E36 ///M3 [GTS-2] FS
llis is offline   United_States
0
      02-14-2013, 08:56 PM   #16
Schom
Private
 
Drives: 2008 m3 e92 6mt
Join Date: Oct 2012
Location: Minnesooooota

Posts: 74
iTrader: (0)

s

it's up to you man. a guy can argue this from both sides as there are many reasons to do it, and not to.

i could afford a new one, but elected to get an '08 because i couldn't justify it in my head. deprecation is a significant factor on all these german cars, i felt it was better to let someone else take the beating, and i'm ok paying what i did with a car a few years older.

it's all what you want to do.


to the guy in canada making 131k, how much do you pay in taxes up dere?
Schom is offline  
0
      02-14-2013, 08:59 PM   #17
Darth One
Former yr 1of1 owner
 
Darth One's Avatar
 
Drives: SGM E90
Join Date: Jul 2008
Location: FL

Posts: 1,106
iTrader: (0)

Quote:
Originally Posted by Fanta View Post
Buy a M3 or lease a Porsche 991s.
life is too short. lease a Gallardo for about $2500 a month. he'll easily make that much even after taxes
Darth One is offline   United_States
0
      02-14-2013, 09:03 PM   #18
AshyLarryMP
First Lieutenant
 
Drives: 2011 MW E92 ZCP DCT
Join Date: Nov 2012
Location: San Diego

Posts: 359
iTrader: (0)

I had to learn my lesson with modding my car, although it was very fun. Modded cars break more and you lose money in the resale. If I was you I would get a WRX or G37 and mod it, have fun and learn my lesson. Then when it breaks down or you sell it, get a next generation M3 and keep it stock. The more I think about it, the more sure I am that the next gen M3 will be awesome. Every car BMW makes seems to be better than the last. In 4 years you can get a next gen low mileage used M3 at a good price.
AshyLarryMP is offline   United_States
0
      02-14-2013, 09:19 PM   #19
Mr. ///M3 RD
Major General
 
Mr. ///M3 RD's Avatar
 
Drives: E350 & 280 SL on Weekends :)
Join Date: May 2010
Location: GTA, Ontario - Canada

Posts: 7,859
iTrader: (0)

Garage List
Start with something like a used 3 to 5 year old three series or even an American car ,,, save your money at this time then later in life when you purchase something like a M3 you feel much better about it.

Since you asked ... that is my opinion ...
__________________
Cheers, Rolf-Dieter

Life will take us to some interesting places, fortunately The ///M3 will too with a many of us know this very well
---> Click here for some good stuff I found
Mr. ///M3 RD is offline   Canada
0
      02-14-2013, 09:24 PM   #20
okcomputer
New Member
 
Drives: 08 M3 Coupe
Join Date: Aug 2012
Location: ATL

Posts: 26
iTrader: (0)

Don't know the rest of your situation, but I can't see how this is a good idea... when you're making double that later on in your career, you can pick up a CPO M3.

When I was at your stage of my career (no debts), I had an old air-cooled 911 that I got for around $18k... but to get a car for double that (or more), bad move. Max your 401k now, the M3 will come in time.

Indeed, as had been said: "Life is too Short"... to spend it in debt.
okcomputer is offline  
0
      02-14-2013, 09:29 PM   #21
pbonsalb
Major
 
Drives: 08 E90 M3, 99 E36 M3 Turbo
Join Date: Feb 2011
Location: Concord, NH

Posts: 1,442
iTrader: (3)

If your parents don't mind supporting you while you blow lots of cash on an expensive luxury car, go for it. With no responsibilities and a reasonable income, it is easy to buy the M3. You should probably talk to your parents about your idea, though. They might agree that you deserve the M3 given how hard you have been working for all these years or they might think you should be supporting yourself if you have that kind of money to spend on a car. Each family is different. Where would you go from here -- driving a $60k car in your early 20s, what will you expect when you are in your mid 40s?
pbonsalb is offline  
0
      02-14-2013, 09:40 PM   #22
bruza
Second Lieutenant
 
bruza's Avatar
 
Drives: '11 E90 M3 + '06 Volvo S60 R
Join Date: Jul 2011
Location: Bellingham, WA

Posts: 280
iTrader: (0)

Nope. Esp living at home w/ the parents still.
__________________


2011.75 M3 Sedan Lemans Blue/ Fox Red/ Carbon Leather Trim; DCT, Competition, Convenience, Cold Weather & Premium 3 Packages + more; November 21 ED (Last E90 M3 off the line? )
bruza is offline  
0
Closed Thread

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 07:13 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST