M3 Age and Occupation?

jmflukeiii · 03-24-2011, 06:59 AM

Quote:

Originally Posted by Jive

I'm 23 and recently graduated, I started my career in economic consulting and am making good money for my age (~70k) with absolutely no expenses (live at home, no debt). However it is still hard for me to swallow the cost of even a USED M3. I've been seeing all these threads about kids just finishing college and expecting to buy an M3 out of college, most of them are just not thinking realistically. Spending a large portion of your salary (assuming you find a half-way decent job) on a depreciation asset is just about the worst thing you can do straight out of college.

Very correct. The job market is drastically different than 2007 when coming out college, jobs were everywhere. I graduated with a finance degree in 2008 during the middle of a financial melt-down and ended up working in restaurant. I actually made decent money doing that, but obviously not satisfying. So now I have my own company.

But my sister is now just graduating and my parents keep pushing her to get a job! get a job! deterring her from the more feasible option of a paid internship which is sort of the best many can do right now.

DiscoZ · 03-24-2011, 09:51 AM

Quote:

Originally Posted by TX

Yeah, I think it's safe to assume there are quite a few m3 owners who did not go to college and probably make a fair amount more than those that did go to college. Although the vast majority of owners went to college as that was the smart thing to do ;-)

... and the ones who went to college will generally make more in the long term.

Jive is spot on. Even first year analysts where I work who make well over six figures in their first year out of undergrad do not purchase M3's because they are fiscally conservative. A car should never be more than a 1/3rd of your annual comp, better yet, less than a 1/4 or a 1/6.

TheRealOrosie · 03-25-2011, 08:49 AM

Bottom line is, everyone's situation is different. I know multi-millionaires who drive Toyota Camrys, and other poor saps that are leveraged to the hilt, but still drive a car they really cant afford.

What I dont understand is someone who makes 70k a year and lives with their parents, and drives 60-70k car. That makes no sense to me.

You are right, Jive....

F82_SID · 03-25-2011, 09:11 AM

Quote:

Originally Posted by DiscoZ

... and the ones who went to college will generally make more in the long term.

Jive is spot on. Even first year analysts where I work who make well over six figures in their first year out of undergrad do not purchase M3's because they are fiscally conservative. A car should never be more than a 1/3rd of your annual comp, better yet, less than a 1/4 or a 1/6.

So are you saying that anyone who chooses to by a 70k car SHOULD be making at least 210k a year? That doesnt sound right to me at all.

I am buying my home, have other paid off vehicles, have all the 401k investment crap, virtually no revolving debt, and I afford my car very well even though I am ONLY making ~95k-100k a year. I also afforded my 335i quite well back when I was only making 60k a year. I think it just depends on what you choose to spend your money on. I have people ask me all the time how I do it and I tell then that I dont smoke, and I dont even really drink much either. Not doing those two things can save you allot of money in the long run.

jin.patrick · 04-04-2012, 12:04 AM

Damn! there is no category for me to vote....

I'm 17, a high school student

My dad has a polar bear farm and lots of igloos that he rents out

1MOREMOD · 04-04-2012, 12:06 AM

Quote:

Originally Posted by E90Montreal

Damn! there is no category for me to vote....

I'm 17, a high school student

get out you punk! i kid i kid.

1MOREMOD · 04-04-2012, 12:07 AM

oh im in the 28-45 group but not sure any of us would qualify for the grown up part?

tibra1 · 04-04-2012, 12:10 AM

Quote:

Originally Posted by DiscoZ

... and the ones who went to college will generally make more in the long term.

Jive is spot on. Even first year analysts where I work who make well over six figures in their first year out of undergrad do not purchase M3's because they are fiscally conservative. A car should never be more than a 1/3rd of your annual comp, better yet, less than a 1/4 or a 1/6.

Where do first year analysts make well over six figures?

1MOREMOD · 04-04-2012, 12:13 AM

yeah that 1/4 or 1/6 thing makes no sense. i have close to my yearly salary in just my m3 and x5. but i do live in a van down by the river.

jin.patrick · 04-04-2012, 01:00 AM

Quote:

Originally Posted by chriszeh

get out you punk! i kid i kid.

of course im joking!

jin.patrick · 04-04-2012, 01:01 AM

Quote:

Originally Posted by chriszeh

yeah that 1/4 or 1/6 thing makes no sense. i have close to my yearly salary in just my m3 and x5. but i do live in a van down by the river.

I agree with you, the 1/4 or 1/6 thing may ONLY apply if you are buying the car fully cash at one shot. Not many people goes in with certified cheque of $70k.

kwike92 · 04-04-2012, 01:10 AM

Just turned 25 two weeks ago. Got my m3 when I was 22, prior to that I had a 335i that I purchased when I was 20..

Make 10k+ a month, self employed in the mortgage business, no degree. Just sales skills.

Obviously this isn't anything to brag about and nor am I trying too. But I just want to add that I've been working since I was 15. Started at taco bell making $6.75 then go into sales... Fcked up a lot and lost a alot along the way... It sure wasn't easy...there were times I couldn't even put gas in my car.. Now I've learned to save money for rainy days...

MerchantSailor03 · 04-04-2012, 05:06 AM

24 almost 25
Merchant Mariner
Had the M (daily driver) for just over a year,

BeamMeUp · 04-04-2012, 09:10 AM

23 med student!

voltavoltavolta · 04-04-2012, 07:11 PM

Analytical Therapist

IFX · 04-04-2012, 08:53 PM

stay at home son.

ejheverest · 04-04-2012, 11:06 PM

Quote:

Originally Posted by MerchantSailor03

24 almost 25
Merchant Mariner
Had the M (daily driver) for just over a year,

+1, Also a Merchant Mariner, used to work for MLL,(amo union)
now work in the oil/gas industry. First Engineer, 05' graduated.

You graduate from Suny, KP or MMA?

Deck or Engine?

CCLSVTM3 · 04-05-2012, 01:33 AM

I'm 31 and I sell drugs.....

gallian93 · 04-05-2012, 07:57 AM

Quote:

Originally Posted by CCL16M3

I'm 31 and I sell drugs.....

Sooo... you're a physician?

1MOREMOD · 04-05-2012, 10:27 AM

Quote:

Originally Posted by CCL16M3

I'm 31 and I sell drugs.....

no pharmacist. me also.

nmehta211 · 04-05-2012, 11:01 AM

34. I stab people in the back and pass gas with my degree.

On my 3rd M3, although the first two were identical cars.

(I am an Anesthesiologist and interventional pain specialist).

hieu1004 · 04-05-2012, 11:53 AM

30 and Aerospace engineer

View Poll Results: As a current, past, or future/potential M3 owner the following most fits me:
18-28 yrs old (Young and fancy free!)	572	32.80%
28-45 yrs old (Grown up and established!)	917	52.58%
45-55 yrs old (The kids are gone or going and 40 really is the new 30!)	143	8.20%
>55 yrs old (Wise and well aged! Enjoying the limelight of our lives!)	52	2.98%
Who cares..drive it like you stole it at any age!	60	3.44%
Voters: 1744. You may not vote on this poll

03-25-2011, 08:49 AM	#201
TheRealOrosie BMW Fan Boy 446 Rep 1,385 Posts Drives: //M Join Date: Apr 2010 Location: Chapel Hill, NC iTrader: (0)	Bottom line is, everyone's situation is different. I know multi-millionaires who drive Toyota Camrys, and other poor saps that are leveraged to the hilt, but still drive a car they really cant afford. What I dont understand is someone who makes 70k a year and lives with their parents, and drives 60-70k car. That makes no sense to me. You are right, Jive.... Last edited by TheRealOrosie; 03-25-2011 at 08:55 AM..
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04-04-2012, 12:04 AM	#203
jin.patrick Lieutenant 33 Rep 433 Posts Drives: F80 M3 Join Date: Nov 2011 Location: Montréal, QC iTrader: (0)	Damn! there is no category for me to vote.... I'm 17, a high school student My dad has a polar bear farm and lots of igloos that he rents out
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04-04-2012, 12:07 AM	#205
1MOREMOD - 11817 Rep 23,187 Posts Drives: Race car-> Join Date: Mar 2009 Location: check your mirrors iTrader: (5)	oh im in the 28-45 group but not sure any of us would qualify for the grown up part? __________________ 02 Tiag e46 M3\|6MT\|GC plates\|MCS c.o.\|GC bars\|GC race control arms\|GC bushings\|BW eng. & tran. mounts\|subframe kit\|BW race shifter\|BW Jaffster\|Euro header\|BW exhaust\|K&N c.a.i.\|Epic race tune\|Rouge pulleys\|Seibon CF hood\|CSL bumper\|apr gt 250 & splitter\|ST-40\|XR-2\|SS lines\|half cage\|Recaro profi\|Profi 2 harness\|BMWpedals\|BW studs\|
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04-04-2012, 12:13 AM	#207
1MOREMOD - 11817 Rep 23,187 Posts Drives: Race car-> Join Date: Mar 2009 Location: check your mirrors iTrader: (5)	yeah that 1/4 or 1/6 thing makes no sense. i have close to my yearly salary in just my m3 and x5. but i do live in a van down by the river. __________________ 02 Tiag e46 M3\|6MT\|GC plates\|MCS c.o.\|GC bars\|GC race control arms\|GC bushings\|BW eng. & tran. mounts\|subframe kit\|BW race shifter\|BW Jaffster\|Euro header\|BW exhaust\|K&N c.a.i.\|Epic race tune\|Rouge pulleys\|Seibon CF hood\|CSL bumper\|apr gt 250 & splitter\|ST-40\|XR-2\|SS lines\|half cage\|Recaro profi\|Profi 2 harness\|BMWpedals\|BW studs\|
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04-04-2012, 01:10 AM	#210
kwike92 Lieutenant Colonel 121 Rep 1,775 Posts Drives: 2014 M5 CP Join Date: Feb 2010 Location: Costa Mesa, Ca iTrader: (9)	Just turned 25 two weeks ago. Got my m3 when I was 22, prior to that I had a 335i that I purchased when I was 20.. Make 10k+ a month, self employed in the mortgage business, no degree. Just sales skills. Obviously this isn't anything to brag about and nor am I trying too. But I just want to add that I've been working since I was 15. Started at taco bell making $6.75 then go into sales... Fcked up a lot and lost a alot along the way... It sure wasn't easy...there were times I couldn't even put gas in my car.. Now I've learned to save money for rainy days... __________________ 2014 M5 Comp Package.
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04-04-2012, 05:06 AM	#211
MerchantSailor03 Im on a Boat! 2 Rep 68 Posts Drives: 08 M3 Join Date: Apr 2012 Location: Trumbull, CT iTrader: (0) Garage List 2008 BMW M3 [0.00]	24 almost 25 Merchant Mariner Had the M (daily driver) for just over a year, __________________ Eisenmann Race w/conn pipes, AFE filter & scoops, TMS pedals, M performance steering wheel, black gloss kidney grills w/ M striping, carbon fiber side gills, painted reflectors....
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04-04-2012, 09:10 AM	#212
BeamMeUp Enlisted Member 9 Rep 49 Posts Drives: bmw m3 2011 frozen black Join Date: May 2011 Location: toronto iTrader: (0)	23 med student!
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04-04-2012, 07:11 PM	#213
voltavoltavolta New Member 0 Rep 19 Posts Drives: Lancia Torpedo Type Epsilon Join Date: Sep 2011 Location: Mulhouse, France iTrader: (0)	Analytical Therapist
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04-04-2012, 08:53 PM	#214
IFX Banned 67 Rep 2,536 Posts Drives: AW e46M/N54 Join Date: Jan 2009 Location: South Fla. iTrader: (1)	stay at home son.
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04-05-2012, 01:33 AM	#216
CCLSVTM3 Lieutenant 36 Rep 523 Posts Drives: Interlagos blue E90 M3 Join Date: Jul 2011 Location: Burbank, CA iTrader: (1)	I'm 31 and I sell drugs..... __________________ BMC filter, OEM Exh Mod, ESS Direct Flash tune, flat black kidney grills, color painted front reflectors, LUX Angel eyes, -2012 SVT Raptor 4 dr -09 E90 M3
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04-05-2012, 11:01 AM	#219
nmehta211 First Lieutenant 70 Rep 399 Posts Drives: 08 E90 M3 Join Date: Jan 2006 Location: NYC iTrader: (3)	34. I stab people in the back and pass gas with my degree. On my 3rd M3, although the first two were identical cars. (I am an Anesthesiologist and interventional pain specialist). __________________ 08 E90 M3 Interlagos Blue 99 E36 M3 Cosmos, #2--Sold 99 E36 M3 Cosmos, #1--Sold
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04-05-2012, 11:53 AM	#220
hieu1004 Second Lieutenant 19 Rep 226 Posts Drives: Space Gray e92 M3 Join Date: Feb 2012 Location: Bothell, WA iTrader: (0)	30 and Aerospace engineer
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