Income vs. M3.

[kscarrol]

^ This! $200k is nowhere near 1% territory but you wouldn't know it from the recent election. $200k in LA, NYC, Boston etc is not that much given the overall cost of living.

You need to make $350k+ type income to be in the 1%...

And it doesn't surprise me to see so many responding to the poll say $200k+. Polls are generally not very good and just because one quarter who have responded are in that income bracket doesn't mean that one quarter of the members who own M3's are in that income bracket.

[991brothers]

theres that saying "the more money you make, the more you dont flaunt it..."

[LarThaL]

Originally Posted by chriszeh

Nothing to do with hate. Just seems off making 200K plus puts you into the 1 percenter category and don't think one quarter of our friends here on this forum are in that group.

$200k puts you in about the top 7% for household income. Most of these people live in the Northeast and California. There are pockets of affluence everywhere of course, but out of the 8.4 million households with this much annual income or more, more than 60% is on the coastal states between from Massachusetts to Virginia and California. The "top 1%" is at roughly $350K annual household income. I am not surprised at all by the results. I think they are spot on.

[Drifting Tree]

Originally Posted by Giggs

Nothing is "always". And Im not talking about renting as in renting an apartment and living in it. Im talking about buying rentals and renting them out. For example, for what it costs some people to buy their mods for their m3, Ive been buying condos all cash and renting them out with about a 15-20% return on my investment after costs and still hanging on to my equity. I would forgo expensive mods or a more expensive car for a lot of passive income off rental properties anyday. Its nice having your properties pay for your living including your m3

Wait.. peoples mods= $ Homes= $$$$$$$ unless your talking midwest and at that rental rate I doubt you would be making 15-20%...All cash.......are they carbon fiber

I will buy 100-250 of these homes- show me the................................

[SeaBeast]

125k

[p-streets]

Im in the military and married and I'm broke as heck but I make enough to pay my bills and play wit my car wich is my DD and I have no regrets this car will be mine forever and will be handed down to my son as his first car

[1MOREMOD]

Originally Posted by LarThaL

$200k puts you in about the top 7% for household income. Most of these people live in the Northeast and California. There are pockets of affluence everywhere of course, but out of the 8.4 million households with this much annual income or more, more than 60% is on the coastal states between from Massachusetts to Virginia and California. The "top 1%" is at roughly $350K annual household income. I am not surprised at all by the results. I think they are spot on.

good to know. i guess my shock is that those 200k people own m3s. i think i would own different things if i made 50 percent more. but then again maybe not m3 is kinda good.

[HeartMD]

All in all if everything goes according to plan our faithful "goverment" will have us all driving nissan altima's with in the next 4 years. So enjoy your M's cause owning one makes you "rich" and "evil". You see JC was right when he said "M3 owners have no friends".

[1MOREMOD]

Originally Posted by HeartMD

All in all if everything goes according to plan our faithful "goverment" will have us all driving nissan altima's with in the next 4 years. So enjoy your M's cause owning one makes you "rich" and "evil". You see JC was right when he said "M3 owners have no friends".

jesus is on m3post?

[M3forMe]

Originally Posted by HeartMD

All in all if everything goes according to plan our faithful "goverment" will have us all driving nissan altima's with in the next 4 years. So enjoy your M's cause owning one makes you "rich" and "evil". You see JC was right when he said "M3 owners have no friends".

Wrong. Our government will have us all driving GM ( government made) cars when they have to bail them out again after we fall off the fiscal cliff. Enjoy 4 more years.

[HeartMD]

Originally Posted by M3forMe

Wrong. Our government will have us all driving GM ( government made) cars when they have to bail them out again after we fall off the fiscal cliff. Enjoy 4 more years.

Awwww yes! I forgot about that one.

[HeartMD]

Originally Posted by chriszeh

jesus is on m3post?

LOL Jesus? I was refering to Jeremy Clarkson

[1MOREMOD]

Originally Posted by HeartMD

LOL Jesus? I was refering to Jeremy Clarkson

oh him!

[wjgorol]

I am new member here after lurking for a while. From Pittsburgh, 23 and just ordered my first M3. Lets just say the first production one wasn't to my standards so I sent it back to Germany and am currently awaiting my second delivery. I have always wanted an M and have splurged on my mere 50k salary lol

[Yugo]

Sounds like 125k with a housing payment of 14% of that should be no issue to join the E9x club

(Including an E46 as the garage queen)

[RudyP]

Originally Posted by chriszeh

good to know. i guess my shock is that those 200k people own m3s. i think i would own different things if i made 50 percent more. but then again maybe not m3 is kinda good.

There is at least one person on this board with income above $1M who bought his M3 used. There very well may be more but I only know of one.

I also know a multi-billionaire who still travels on the airlines - that one does kind of surprise me to be honest.

[james33]

Originally Posted by LarThaL

If you want a more meaningful result, I think you need to have $100k increments up to $500k, then an above $500k category. M3 is not a cheap car, nor is it the only car for a lot of people.

There is also the fact that people are willing to spend very different percentages of their income on a car. I personally think it is ludicrous to spend more than you annual gross income on a car, yet it seems some M3 owners are doing just that.

Not necessarily.... I buy all of my cars used. My '08 M3 vert with 12,700 miles purchased a couple of months ago was $35K out the door after trade in.

I agree though - pretty useless survey overall.

[Giggs]

Originally Posted by james33

Not necessarily.... I buy all of my cars used. My '08 M3 vert with 12,700 miles purchased a couple of months ago was $35K out the door after trade in.

I agree though - pretty useless survey overall.

yeah but you are saying it was $35k after trade in, that's not the full cost of the car. what was the actual purchase price? if it was $50k, you cant say you bought a car used for $35k just because you traded a car in. the car still cost $50k.

[james33]

Originally Posted by Giggs

yeah but you are saying it was $35k after trade in, that's not the full cost of the car. what was the actual purchase price? if it was $50k, you cant say you bought a car used for $35k just because you traded a car in. the car still cost $50k.

True enough. Car was $41,500.

[1MOREMOD]

no matter how much we make we can always find a way to be broke just at a different level.

[Giggs]

Originally Posted by james33

True enough. Car was $41,500.

Yeah. And after taxes/registration/fees etc the car costs even more, especially here in Cali that $41.5k car is like $46-47k. Not picking on you just pointing out the reality. I'm not going to tell people how to live, but in reality it would be smart for someone not to purchase a car that costs more than half of what their yearly salary is. With interest rates as low as they are right now I wouldn't pay cash though, definitely would get a loan and use cash for investments.

[1MOREMOD]

Originally Posted by Giggs

Yeah. And after taxes/registration/fees etc the car costs even more, especially here in Cali that $41.5k car is like $46-47k. Not picking on you just pointing out the reality. I'm not going to tell people how to live, but in reality it would be smart for someone not to purchase a car that costs more than half of what their yearly salary is. With interest rates as low as they are right now I wouldn't pay cash though, definitely would get a loan and use cash for investments.

i thought your car was supposed to be 100 percent of yearly salary and house 1000 percent.