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      09-20-2007, 11:43 AM   #23
fobunited
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I agree. At your age, you already have a very new, very desirable, and great car. Why lust after another car? The grass is always green on the other side.

ESPECIALLY at your age, regardless of whether you're making $50k/year, invest your money. The law of compound interest REALLY comes into play when you start saving at your age. Woud you rather spend a good chunk of your money on a car right now, or save as much as you can right now, retire when you're 50, and be a multi-millionaire?

If you are making roughly 50k/year and want to buy an M5, I assume you're financing it. If you already drive a 2007 335i, then financing another car, especially an M5 would be another unwise financial decision because you're literally throwing even more money down the drain. And cars are only as liquid as they are sellable. The depreciation you suffer makes it an unwise financial tool.

Be happy with what you have. I bought a 2002 330ci new, but really wanted an M3 but there was a year long waiting list at the time. Everytime I saw an M3 drive by, I was so tempted to trade in my car and get an M3, but then I would be taking a HUGE loss. Instead, I drove the car for 5 years, and now I own a 2007 335i as well. I love this car, and although there are greater and better cars out there, I am very satisfied and have no intention of lusting after another car for a long time.

I'm 24, have a full time job, own my car and home outright, and am continually saving. I could easily afford an M5 if I wanted to, but I'm not going to buy another car for probably another 5 years or until I'm married. Why? Because the discipline I have of saving now, will reap HUGE rewards in the future. I'm not taking a loss by driving a 335i, and neither are you.
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      09-21-2007, 01:16 PM   #24
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I would wait for the m3 four door. The M5 is very expensive but if you can do it then do it. I would rather not live with my parent and drive a 335i then live with them and drive an M5. Thats just me though and you need to be happy so good luck with the decision.
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      09-26-2007, 03:19 PM   #25
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First off congratulations on the business and hope it works out for you. You are 21 years old and have a long time to live. I am 26 and was faced with this decision when I purchased my 335i and I raised this question to myself: If I buy a M5 now and max myself out, what will I upgrade to when the time comes to purchase another car? You certainly do not want to downgrade from something that nice. While it is nearly impossible to resist the urge of buying that car, be smart and invest it into an appreciating asset when the time is right. If you do this then you might not have an M5 right now, but you will be building wealth and purchasing even finer automobiles in the future. Do not worry about people looking at your car as not being a "business" automobile, driving a 335i at 21 is damn good. People will either look at you as someone who has their head on straight, or they will think that your parents bought it. It doesnt matter what BMW you are driving. Hope this helps.
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      09-28-2007, 12:02 PM   #26
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first congrats on your sucess. it is amazing now days the opportunities people have at any age to become a sucess.

i do agree that you are very young myself included (18). you are 21.5 on the way to sucess.

335i is a great car which gives you both luxury, practicality, and power, and it fits your age. if you wanted to move out of your parent's house, definatley keep your 335i and invest in the house as that is one of if not the best investment you will make in your life.

but if you plan ahead and believe you will still have enough money in two years to get your appartment then you all good. its all about planning ahead, organization, and management.

as far as the m5 goes, it is an AMAZING CAR. more car then anybody needs.
v10 500HP and those things take off like nothing else. yes it is alot gas deficcient then your 335i and yes you have to either a) use the paddles or b) use the lever to shift not unless you get the manual. if you want more info on the smg you can look here, http://m3smg.com/. i used to have an m3 manual but know alot about the smg. its pretty simple.

in general you got 6 settings which are shown on the bars increasing. the higher the bar the faster the shifts go. so on normal driving you would set it on the one for you most people got for s3-5.

note that you have a "m" button on the m5 as well. so at a touch of a button your "race" presets will activate. press it again and it goes back to your casual settings.

the suspension got modes, you get the m, optional usage of 400hp/500hp. if you need anything else let me know man. i can keep going all day long
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      09-29-2007, 11:17 AM   #27
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Is this thread for real? Buying an m5 on a 50k salary and worrying about your car's impact on your appearance of maturity when you live with your parents? Good luck with that .
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      09-29-2007, 11:22 AM   #28
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Is this thread for real? Buying an m5 on a 50k salary and worrying about your car's impact on your appearance of maturity when you live with your parents? Good luck with that .
Yeah, typically one doesn't buy a car that costs 2x their annual salary (unless their paying with $$ from their trust fund ). Pipe dreams of a young, inexperienced driver.
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      09-29-2007, 11:54 AM   #29
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Yeah, typically one doesn't buy a car that costs 2x their annual salary (unless their paying with $$ from their trust fund ). Pipe dreams of a young, inexperienced driver.

I can't justify an M3 in my mind and I'm a little older and it would be less than my yearly salary by a good margin. Everything is going up, property taxes, medical insurance, food, commodities, etc at double digit rates and it gets harder and harder to save each year.

OP - keep the 335 until the new 3 series comes out and you should do well.
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      09-29-2007, 08:54 PM   #30
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Your clients will be more interested in your results, than what you happen to be driving.
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      09-29-2007, 09:15 PM   #31
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Take the money and invest it.

You should be happy to be driving a 335i at 21yrs old, instead of thinking about would you could be driving.

There's plenty of people who would love to be in your position, be smart and make the right decision. Take the opportunity you've been given and make the most of it. At 21 it might be hard to understand, but the future is much more important than the present.
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      09-29-2007, 11:03 PM   #32
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Wealth is of the mind, not the pockets.

Save your cash and build capital/savings.

If all goes well with your business, you should be doing pretty darn good by 30.

Patience is the key to virtue.

Don't rush to get in debt on something that depreciates substantially.
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      09-30-2007, 01:02 AM   #33
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you see, that's why los angeles is so successful
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      09-30-2007, 01:24 AM   #34
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Quote:
Originally Posted by Nyulak View Post
Your clients will be more interested in your results, than what you happen to be driving.
+1,000,000.

The first realtor we had drove a brand new Lexus LS, pretty nice. But damn, he lacks common sense like no other. The 2nd realtor was able to get us the house for less money, but drives an IS250. He was much more professional than the other realtor with a much more expensive car.


I know it's hard to resist an expensive car, since kids our are live for the short term and just care about stunting. But a house is an investment that is worth it, a car depreciates like no other.
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      10-01-2007, 10:24 AM   #35
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I would keep the 335i and buy a nice used 7series or lexus LS for a company car.
I am starting/running a business as well, except mine is FOR PROFIT ALthough I love my e92 335i, I plan on trading it in on a used 7-series, and then leasing a e92 M3 OR buying a used e46 M3 when their prices drop even more upon the release in the U.S. of the e92 M3.

The 7-series is the best crusier, company type car. My dad has one and I just it. But right now I can only afford one car so the 335i is it
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      10-01-2007, 10:32 AM   #36
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Quote:
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Your clients will be more interested in your results, than what you happen to be driving.
[/thread]
Best post, period.
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      10-01-2007, 01:50 PM   #37
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good for you for doing something with yourself at such a young age

but you are in no way shape or form financially able to afford a m5.

it kind of annoys me that you can even make yourself believe you can actually afford that car.

you have no savings right now, have all your money in a depreciating asset (car) , no house or condo you own etc

and your assuming your company will flourish. your buying a 85k car and you have not made any money yet from your venture. what if it does not work? you are going to sell your depreciating "liquid asset" as you call it

your being ridiculous, and you need to grow up a little bit

your the perfect example as to why the national savings rate is in negative terratory.

just trying to give you advice bro. you really really should not be buying this car
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