You drive a E9x M3. You're in your 20's. How?

[Markao66]

22 years old, financed mine for 5 years. live and pay it on my own.

[Kisenwether]

22 years old, dad has a repair shop, bought a totaled one and spent a fraction of the price then getting used.

[PINHEAD]

10/10 would read again

[nullrouted]

Originally Posted by Markao66

22 years old, financed mine for 5 years. live and pay it on my own.

Yeah but what do you do to pay for it? That's the 'how' part of the thread title haha.

[nullrouted]

Originally Posted by Kisenwether

22 years old, dad has a repair shop, bought a totaled one and spent a fraction of the price then getting used.

Saw your thread, your car was an amazing project indeed. Looks really great, especially for how far it came.

[nullrouted]

I'm 29, always loved cars and computers from a young age. Got my first PC at age 6, haven't stopped tinkering since then. Worked in tech my whole life, already have 10+ years of relevant experience in networking, servers, and programming. I've also got a business degree, and most recently I built a cloud VoIP company from the ground up to where we now have customers in 40+ states. I've always done pretty well for my age when it comes to cars, and they've always been paid for/financed by me.

Age/Car:
19 - Eclipse GS-T 210hp
21 - Nissan 350z 287hp
26 - E46 M3 Vert 333hp
29 - E92 M3 420hp European Delivery.

32 - (Whenever the LCI model is released) F82 M4 via European Delivery

I also have a son, and child support -- you really can have it all if you work hard enough.

[Ryguy29]

Local#3 Electrican... 23yrs young

[AutoWrapsLV]

Originally Posted by Ryguy29

Local#3 Electrican... 23yrs young

Local #357 payed for all of my toys!

[Endless619]

Originally Posted by quiksi

it's not a goddamn Ferrari...there are quite a few people in their 20s that can afford new/used/CPO e9x m3's

I disagree in regards to an individual $82,000+ M3. Probably very few... Under 500 probably.

AND if this was 2008 or 2009 I bet to say almost 95% of E9X M3 owners were over 30 years of age.

We see this with all new vehicles. I say we take a poll the day the F82 M4 is available and see the age of new owners AND if the individual M4s are $90k+ I would bet 99% would be over 30 years of age. Its reality, not rocket science. Most teens or twenty something folks just don't make that kind of money and will not get approved for that type of money, regardless.

Tell me how I know? Shall we go back to the $90,000 2002-2005 NSX days during those years?

[nullrouted]

Originally Posted by Endless619

I disagree in regards to an individual $82,000+ M3. Probably very few... Under 500 probably.

AND if this was 2008 or 2009 I bet to say almost 95% of E9X M3 owners were over 30 years of age.

We see this with all new vehicles. I say we take a poll the day the F82 M4 is available and see the age of new owners AND if the individual M4s are $90k+ I would bet 99% would be over 30 years of age. Its reality, not rocket science. Most teens or twenty something folks just don't make that kind of money and will not get approved for that type of money, regardless.

Tell me how I know? Shall we go back to the $90,000 2002-2005 NSX days during those years?

If the Individual M4 costs $90k+ -- I will be in a new GT-R instead

I also agree with you, most of the posters in this thread except my over-the-hill (for this thread) self and maybe one or two others, bought used. By the time I get a new GT-R or Indiv. M4, I'll be over 30 as well.

[dmppdx]

Originally Posted by Endless619

I disagree in regards to an individual $82,000+ M3. Probably very few... Under 500 probably.

AND if this was 2008 or 2009 I bet to say almost 95% of E9X M3 owners were over 30 years of age.

We see this with all new vehicles. I say we take a poll the day the F82 M4 is available and see the age of new owners AND if the individual M4s are $90k+ I would bet 99% would be over 30 years of age. Its reality, not rocket science. Most teens or twenty something folks just don't make that kind of money and will not get approved for that type of money, regardless.

Tell me how I know? Shall we go back to the $90,000 2002-2005 NSX days during those years?

"Afford" is kind of an objective term. Plenty of people who drive m3s really can't afford them, but chose to do it anyway.

[CSanto]

Originally Posted by Endless619

I disagree in regards to an individual $82,000+ M3. Probably very few... Under 500 probably.

AND if this was 2008 or 2009 I bet to say almost 95% of E9X M3 owners were over 30 years of age.

We see this with all new vehicles. I say we take a poll the day the F82 M4 is available and see the age of new owners AND if the individual M4s are $90k+ I would bet 99% would be over 30 years of age. Its reality, not rocket science. Most teens or twenty something folks just don't make that kind of money and will not get approved for that type of money, regardless.

Tell me how I know? Shall we go back to the $90,000 2002-2005 NSX days during those years?

Nailed it

[Endless619]

Originally Posted by nullrouted

If the Individual M4 costs $90k+ -- I will be in a new GT-R instead

I also agree with you, most of the posters in this thread except my over-the-hill (for this thread) self and maybe one or two others, bought used. By the time I get a new GT-R or Indiv. M4, I'll be over 30 as well.

Don't get me wrong. I applaud younger folks being able to financially make it but the reality is over 90% cannot afford it.

I bought mine CPO used as I will never buy brand new again. Why? Because I put down $30k cash over 10 years ago on a car and today I can get that same car and year for $8000. lol I was in my early 20's and stupid. But such is life. It's a huge learning experience and we all learn as we go.

I am in my 30's as well. No big deal.

[Endless619]

Originally Posted by dmppdx

"Afford" is kind of an objective term. Plenty of people who drive m3s really can't afford them, but chose to do it anyway.

I agree with you 100%!!

[nullrouted]

Originally Posted by Endless619

Don't get me wrong. I applaud younger folks being able to financially make it but the reality is over 90% cannot afford it.

I bought mine CPO used as I will never buy brand new again. Why? Because I put down $30k cash over 10 years ago on a car and today I can get that same car and year for $8000. lol I was in my early 20's and stupid. But such is life. It's a huge learning experience and we all learn as we go.

I am in my 30's as well. No big deal.

I agree with you completely on the depreciation. For me it all boils down to the monthly payments though, as long as I can keep them affordable, the depreciation doesn't bother me so much. I've considered leasing as well, but the numbers (even with depreciation + interest) are still better with 1.79% financing through NFCU -- Especially when you factor in the 7% Invoice price reduction for Euro Delivery. That 7% reduction essentially erases the drive-off-the-lot depreciation, I paid new what some people paid for used 2012s (and many 2011s too, even) at the time...

All things considered, by the time I order an M4 in 2-3 years, I'll end up with more total equity than I had when I left the E46 M3, and with that, a lower monthly payment than I have now. I'll do ED again and pocket the $1500 BMWFS cash (refinance in 3 mos), $750-$1500 loyalty, plus the 7% off the invoice (and the fact that you can get them for the paltry sum of only $1000 over invoice most of the time, and I doubt that will change for ED in the future).

I think people can probably afford more than they think, and can upgrade to better cars than they think, if they pay attention to the details and focus on the goal.

However, I know all of this fun will come to an abrupt end once I get one of these 'wife' people you guys keep talking about, that apparently tell you you're not allowed to do things

[Markao66]

Originally Posted by nullrouted

Yeah but what do you do to pay for it? That's the 'how' part of the thread title haha.

lol sorry, i own a couple of executive offices in Miami.

also i am an accountant.

[Z K]

Originally Posted by Endless619

Don't get me wrong. I applaud younger folks being able to financially make it but the reality is over 90% cannot afford it.

I bought mine CPO used as I will never buy brand new again. Why? Because I put down $30k cash over 10 years ago on a car and today I can get that same car and year for $8000. lol I was in my early 20's and stupid. But such is life. It's a huge learning experience and we all learn as we go.

I am in my 30's as well. No big deal.

Well, if you own the car and are on this thread, these are the few that can afford it. I agree with you that 90% of the 20-something people can not afford it.

Around here (San Francisco), there are a lot of high earning engineers and people in the internet industry which inflates incomes. They make close to 6 figure incomes out of college. So M3 for them is not that big a stretch.

I am in my 30s and purchased the M3 used. I'm not an engineer and not in high tech so had to wait longer to get one.

[quiksi]

Originally Posted by Endless619

Don't get me wrong. I applaud younger folks being able to financially make it but the reality is over 90% cannot afford it.

I bought mine CPO used as I will never buy brand new again. Why? Because I put down $30k cash over 10 years ago on a car and today I can get that same car and year for $8000. lol I was in my early 20's and stupid. But such is life. It's a huge learning experience and we all learn as we go.

I am in my 30's as well. No big deal.

sure, from a pure accounting perspective it doesn't make sense, but as my old econ professor used to always say - "it's more complicated than that"

a few things you're leaving out:
-time value of money
-non-monetary utility/satisfaction

and given that we're on a car forum, I'd be willing to wager most people here get a LOT of non-monetary satisfaction from their M3's

[05Mdriver]

because yolo.

[bchang2001]

Prioritize and make goals for yourself. I have not had any family support since I graduated high school but I told myself when I was 20 I would have a house and an e92 M3 before I was 25. I didn't quite achieve that goal but I put my down payment on the house and bought an M3 before I was 26. It's all about working hard, making good decisions and setting goals.

[dmppdx]

Originally Posted by Z K

Well, if you own the car and are on this thread, these are the few that can afford it. I agree with you that 90% of the 20-something people can not afford it.

Around here (San Francisco), there are a lot of high earning engineers and people in the internet industry which inflates incomes. They make close to 6 figure incomes out of college. So M3 for them is not that big a stretch.

I am in my 30s and purchased the M3 used. I'm not an engineer and not in high tech so had to wait longer to get one.

Six figures isn't very much money living in a place where you need to spend 700K+ for a decent house in a decent neighborhood, so making six figures doesn't neccasarily mean you can afford an M3.

In my opinion, you can only afford an m3 if you can purchase one and also have money to purchase a decent house, (or setting aside money to purchase a house), saving a decent amount for retirement, and having money left over for a rainy day fund. Lots of 20 somethings with m3s aren't in that position.

[cposk]

Work a weekend job (valet). Make $200 a weekend plus I don't spend any money going out like every 24 yr old I know. Adds at least $1000 a month. Buy preowned, finance 30k, BAM...