Lost M3, must say goodbye, this forum has been great!

[osteome]

Originally Posted by Heat00

it was not my intention to "mock" the legal system, the financial system, or any of you. I have learned some big lessons and those mistakes won't ever be made again.

That's good enough for me. We have all made mistakes at times and it is only the ones that we do not learn or grow from that come home to roost later.

I wish you the best of luck in the future. Please don't leave the forum, your value in past posts has been proven. Your goodbye could have been worded differently, but that doesn't invalidate your contributions.

[TailHappyM3]

This is a very important thread and needs to stay open. However, if at all possible we should continue this discussion in more general terms and curtail bashing the OP. Ignorance exists on all sides of this common problem.

[chumpion]

Originally Posted by Azorean

This is a very important thread and needs to stay open. However, if at all possible we should continue this discussion in more general terms and curtail bashing the OP. Ignorance exists on all sides of this common problem.

+1. Please do not take this as a shot OP, but there are a lot of 18 - 25yr olds on this thread that should read a discussion like this.

Helps to show that while living at home without expenses is nice, the real world comes with real problems. Also shows people the downside of the 60+ month loans as well as the problems that come with 0% down, etc.

[Heat00]

thank you all for the understanding and I agree, that I did not use the correct wording to begin this thread.

Regards,

[BMWCadet]

Originally Posted by osteome

3 model years, not three calendar years was my point. So in 14 months y0u racked up 40K in mileage...sounds like a Prius would have been a better choice and offered a far less steeper depreciation.

So you rolled negative equity in? Negative equity to me, means your stuck with that car, not let's rack up more debt beacuse I want something different. All you did with the negative equity, in terms of buying a new car, was immediately generate more negative equity in terms of immediate depreciation, plus with the boatload of miles you put on it. That negative equity has to get paid sometime... Perhaps you would have been better off rolling that negative equity into a cheaper car. Or better yet, take some of that 250K you were banking and just pay the debts off / pay cash for the car.

Good move on the BMW Select choice. Most threads on this board will highlight how little sense that this financing makes. Pay the minimum to drive and have a large balloon on that end. More of the deferment of of debt that will evenetually catch up with you.

My wife and I were both in pure commissioned sales in the past and had been through turbulent markets. We lived on the average of our income instead of the high points. This can only make sense in any economy as the downturns will always occur. My past planning is now allowing me to pay for the poor planning of many others.

Obviously the most recent downturn was quite severe, but nothing in our lifestyle changed during it, because we planned for the most extreme of circumstances. This with making a chunk less than 250K and having no debt for over a year.

While I agree with everything you just posted, your lifestyle probably didnt change much because you're in the military or work for the government, correct? You know we aren't effected as much as civilians by the economy.

This is the perfect example of everything that is wrong with this country. Living beyond your means, letting debt get out of control, and not saving enough.

[southlight]

Originally Posted by Heat00

this really was the point my thread. It did start as me just wanting to say goodbye to all of you and thanks for everything. and it did turn into a mess. it was not my intention to "mock" the legal system, the financial system, or any of you. I have learned some big lessons and those mistakes won't ever be made again.

can we just end at it this?

I thought I was a good member here and contributed worthwhile posts and I've now become a criminal somehow because I've fallen on some hard financial times and had to file a bankruptcy. yes these decisions were mine and it is re-structured payments back to creditors, so you, directly did not buy me an M3 to drive, realax with that already.

I agree with both of you that this thread should come to an end now. The discussion whether the OP is to blame or not might be interesting, but is misplaced.
Finally, I wish the OP best of luck to get things resolved soon.

Questions via PM only.


Best regards,
south