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      02-14-2013, 09:49 PM   #23
Yugo
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Do it! Better now than later. With the age come different responsibilities so do it now.
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      02-14-2013, 09:50 PM   #24
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Many people hate on young M3 owners. You might get your car keyed from haters at the club just for being young and having an M3. Also, very possible you get hated on by co-workers for being young and having an M3.

You will probably also get flamed on the M3 message boards for being young and having an M3. J/k

I'm 34, so I get minimal haters for having an M3.

Last edited by AshyLarryMP; 02-14-2013 at 09:58 PM.
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      02-14-2013, 09:54 PM   #25
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Quote:
Originally Posted by mscdman View Post
So why post?
Makes sense. I ask because I figure this forum is full of pretty smart folks who have a ton of knowledge about the car, its costs, and have wisdom beyond my years to be able to give me a pretty good idea of what they'd do.

Thanks everyone for your input! Clearly it's best to wait it out, but if I can find a good deal on an E9x I will go for it, with extended warranty for peace of mind. I would love to have owned one when they were still "new".
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      02-14-2013, 09:56 PM   #26
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Simple answer. Take your money and get your own place, move out, and find out what life is really about.
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      02-14-2013, 09:59 PM   #27
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Originally Posted by Red_Baron View Post
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).
LIES
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      02-14-2013, 09:59 PM   #28
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Quote:
Originally Posted by KrackerXL View Post
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.
what do you do bro?
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      02-14-2013, 10:10 PM   #29
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i would say since your debt free to go for it. I got my e92m3 when i was 22 so i know what your feeling, i say pull the trigger, if your gross is 60k, and u have no DEBT, whats a G off your check to drive one of the best sports car in the world?
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      02-14-2013, 10:23 PM   #30
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Quote:
Originally Posted by pbonsalb View Post
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.
hopefully the latter Do your folks charge you for rent, food, utilities, etc?

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Originally Posted by pbonsalb View Post
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?
I totally agree here. As I've gotten older and earned more while also saving more it's made me appreciate what I have so much more.

Like others have said, the M3 will come in time. Save up some cash now while you can. I think it's true what others have said regarding be prepared to catch some flak from those you work with who are older and have been working for longer who find it unwise and excessive to purchase a car like an M3 in your situation.
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      02-14-2013, 11:15 PM   #31
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You're too old and make too much money to live at home. Move out first and then see what you can afford.
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      02-14-2013, 11:48 PM   #32
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yay another one of these trolls
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      02-14-2013, 11:48 PM   #33
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I don't get this obsession with younger people wanting to buy nice cars. Have people suddenly forgotten what's important?

The first thing you do after you get a career is buy property - preferably a home. Why? Think of it like this - If you're picking up a random chick and tell her you live with your parents, but drive a great car - you won't get anywhere. If you're looking to settle down with a gal and she inevitably assesses you and your potential, she won't give you too many points for deciding to buy a car instead of a home.

There are a few other factors as well. You have to consider the cost of insurance (which, at your age, will be expensive), petrol, maintenance, etc. It just isn't a wise decision overall. If anything, you can get an E46 M3 now and save up for a down payment on a home. In a few years, you'll have a great car, as well as a place to call your own.
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      02-14-2013, 11:55 PM   #34
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Sigh...
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      02-14-2013, 11:59 PM   #35
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I love the responses. Lol. Some of you guys must be very old
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      02-15-2013, 12:18 AM   #36
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Buy a 2009 in the $40k+ range. Get your loan through Penfed.com at 1.49%, so that you're paying down mostly principle every month - at that rate the money is practically free. I normally advise against this because im keen on investing, but lately ive been witnessing too many people at the end of their line - lifes too short. $60k/year, no debt and a $600/mo car payment consisting of mosly principle reduction. No big deal do it
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      02-15-2013, 12:19 AM   #37
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Quote:
Originally Posted by AhsanU View Post
I don't get this obsession with younger people wanting to buy nice cars. Have people suddenly forgotten what's important?

The first thing you do after you get a career is buy property - preferably a home. Why? Think of it like this - If you're picking up a random chick and tell her you live with your parents, but drive a great car - you won't get anywhere. If you're looking to settle down with a gal and she inevitably assesses you and your potential, she won't give you too many points for deciding to buy a car instead of a home.

There are a few other factors as well. You have to consider the cost of insurance (which, at your age, will be expensive), petrol, maintenance, etc. It just isn't a wise decision overall. If anything, you can get an E46 M3 now and save up for a down payment on a home. In a few years, you'll have a great car, as well as a place to call your own.
^THIS
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      02-15-2013, 12:22 AM   #38
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If I was 22 and in his shoes, I'm 31 btw; I'd want the M3 BAD. Looking back that would have been too much car for me at that age. Then again I wasn't making what this young man is making.

It's your call, obviously there are way better things you can do with your money and others have mentioned. But you know your life plan better than all of us. I'd def get an CPO'd one though, or look into a lease; that way you're not 30-50k in debt. If you do take the plunge enjoy it!

Oh yea, like I said I'm 31 and I passed on the M3 and went 335 M-sport Coupe. Did I save a lot of money with that decision? Yep. Do I still want an M3? Yep.
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      02-15-2013, 12:23 AM   #39
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Seriously go buy a nice condition E36 M3 or if you want to splurge E46 M3 drive it for a couple of years you will love it. Then go and find a nice low mileage 2010+ E92 M3 you will love it even more and appreciate the lineage and where it's come from. No hate just a recommendation.
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      02-15-2013, 12:23 AM   #40
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Stop leeching off your parents.
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      02-15-2013, 12:29 AM   #41
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Asking for financial advice on the Internet tisk tisk. Then again everyone has their own priorities. No one can tell you what to do but my opinion is no. Saving is more important at your age than buying that type of car. Just my opinion
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      02-15-2013, 12:32 AM   #42
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Blah blah blad its Valentines Day
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      02-15-2013, 12:54 AM   #43
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Lets put things into perspective.

A $50k car will cost you around $760/month on a 6 year used car loan at 3% (assuming you have stellar credit) Additionally you will pay around $4000 in taxes at registration depending on your location. At the end of those 6 years you will have a dated car worth maybe 1/3 of our total investment and most likely costing you more due to high cost of maintenance on a high performance car.

Why don't you invest what you would have spent on taxes/registration...say $4000 into a moderate risk mutual fund (~5.5% return) then $760 every month for six years then stop the contribution. Let that money grow until retirement age (65). At that time you will cash out over half a million dollars.

Investment calculator

On a side note...when I was your age I would have been embarrassed to be living at my parents house. But thats just me.
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      02-15-2013, 01:12 AM   #44
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As a M3 owner in his early twenties making roughly same as you per year id say Go for it!
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