Hopefully new M3 owner

[Flying Ace]

Originally Posted by Agent-GHQ

I hate to rain on your parade kid but at that age driving an M3 you are most likely to wreck your car. Statistically, post teens are more likely to be involve in a car wreck.

I'd get as much pussy as you can for $30k or invest in your education! 😉

He'll be in a sex coma if he spends that much on hookers

[Properstyle]

Lord I'm dying at these comments lol.... I'm 25 drive a c63, e90m3 just sold a e46m3 and also have 300zx with 2jz swap thats makes 710whp and over 550 toqrue. I've never wrecked any of the 9 cars I've owned. I'm so glad I never asked if for advice from the forums before buying one of the these cars.

The kid asked about advice about the car. not life lessons. You have one guy who doesn't make close to 200k a year saying you should make this to drive an m3 and others focusing on retirement plans.

[briggs]

Originally Posted by AWe90

With the median household income in the US at $52,000, I find it very hard to believe that the average M3 driver earns $265,000 a year. I know the M3 is by no means an average car, but get real.

Also....there is a LOT of discussion in this thread about needing 3, 4 or even $5,000 annually to maintain an M3. I thought these were "relatively reliable" cars as indicated on many other threads throughout the forum. What gives people??

Im with you ^ on this. Every situation is different, but if you feel you can afford the car, and still put some money away every month. I say get it! When I was 19 I got a job at best buy Geek squad making $17 hourly starting out. I was able to buy a year old g35 coupe which was 33k, and was able to put 10 percent in 401k, and also did 5 percent stock. Not to mention it was enough to pay rent (my rent was cheap though) and still have a life at 19. Granted over the years I ended up making a lot more than that but it was the start of my car craze. All I'm trying to say is if theres a will theres a way. As a kid I always dreamed of having a bad ass car and you have the chance to make that come true. Don't let the negativity, and or the excess information here make you change your mind. Get with your dad, get some insurance qoutes, and go from there!

MAKE SURE YOUR CREDIT IS INTACT!


P.S

Let us know what you decide on doing.

[Ashley Schaeffer BMW]

Originally Posted by Properstyle

Lord I'm dying at these comments lol.... I'm 25 drive a c63, e90m3 just sold a e46m3 and also have 300zx with 2jz swap thats makes 710whp and over 550 toqrue. I've never wrecked any of the 9 cars I've owned. I'm so glad I never asked if for advice from the forums before buying one of the these cars.

The kid asked about advice about the car. not life lessons. You have one guy who doesn't make close to 200k a year saying you should make this to drive an m3 and others focusing on retirement plans.

Yea but this "kid" is buying it on his own and doesn't have daddies silver spoon in his mouth like some people.

Solid advice in this thread.

Thanks for stopping by!

[Properstyle]

Originally Posted by Ashley Schaeffer BMW

Yea but this "kid" is buying it on his own and doesn't have daddies silver spoon in his mouth like some people.

Solid advice in this thread.

Thanks for stopping by!

I wouldn't know whats it like to have a silver spoon in my mouth but good one. I've been in the military for going on 8 years this july, all cars I've owned have been from my own pay check, from my own job, parents never bought me any type of transportation out side of a bmx bike. Money for the cars I've owned and owe now all from my service, those over seas deployments to Afghanistan and Iraq, done by my self not someone else.

Just because others were recklessness and had the invincibility concept when they were a teen doesn't mean this kids does to. I'm pretty sure as far as common sense and logic goes he is further off right now then most on this page were when they started.

Further more he is buying a 30k car that is used and has already depreciated in value. the monthly payment with decent credit is 500 dollars. many people pay more than that on new toyota Camarys

thanks for stopping by.

[Rat3d ///M]

Originally Posted by RoshDawg

Lol 200k after taxes? That's about a 320k salary in CA. That's the top 1% braket.

Good rule of thumb is your house should be 3x your salary. Car should be 1/2 your salary. Of course that doesn't mean you should spend half your paycheck on the car. but you have your parents helping you so that changes things.

Does that mean if i shift the balance a tad and buy a $20k house I can get that Gallardo Ive been wanting?

OP: why not compromise and get an E46 M3? Its still an M car, quick as hell, cheaper to buy out front, cheaper on insurance, though cost to maintain may be more due to age and common issues with the E46 platform. Trust me, people will still think youre cool in an E46. Youre just not ready for an E90 M3 at 18 years old. no one is. Id say an E46 is above your means but you are hell bent on getting an M3 so i suggested it as a compromise.

I had a $4500 Mazda MX6 for my first car. i just got my first E90 M3 at 30 years old and got my first E46 at 28. You wont listen to us, but an M3 isnt a good first car. Live a little, then you can have nice things.

and whats this about clearing $200k a year after taxes before buying an M3? I would venture to guess 60% of the people on these boards dont make half that lol

[vegnomeat]

Go buy your car, unless you do massive miles the tyres won't need changing annually. Oil changes are as cheap as chips, get a warranty and go out and have fun. Stay safe and consider some driver training. Bear in mind that being in NY you might want to invest in some winter tyres later in the year. Good luck young man.

[phidalgo12]

Originally Posted by ||||||||||

Does that mean if i shift the balance a tad and buy a $20k house I can get that Gallardo Ive been wanting?

OP: why not compromise and get an E46 M3? Its still an M car, quick as hell, cheaper to buy out front, cheaper on insurance, though cost to maintain may be more due to age and common issues with the E46 platform. Trust me, people will still think youre cool in an E46. Youre just not ready for an E90 M3 at 18 years old. no one is. Id say an E46 is above your means but you are hell bent on getting an M3 so i suggested it as a compromise.

I had a $4500 Mazda MX6 for my first car. i just got my first E90 M3 at 30 years old and got my first E46 at 28. You wont listen to us, but an M3 isnt a good first car. Live a little, then you can have nice things.

and whats this about clearing $200k a year after taxes before buying an M3? I would venture to guess 60% of the people on these boards dont make half that lol

Hey thanks guys for the solid advice and I was think of the e46 but it's only 5k less in my area and all have over 100,000 mi so I don't know if I could get a warrenty on it... And even though if I get the M3 it won't be really a DD because I go to school and work in the city so it would a mostly weekend, and whenever I can fit in a nice drive "car" so it will be low miles so I know my yearly maintenance will be lower than usual but insure is a killer. I will speak to my dad and see what he recommends also, I will let you all know what I end up with soon because I'm trying to make a decision and have a car by the end of April

[Flying Ace]

Originally Posted by Ashley Schaeffer BMW

You should only buy an M3 if you clear $200k /yr after taxes.

I already clear $200k, my problem is, I have a $100k/year hooker and coke habit.

Time to sell M3? Advise!

[RoshDawg]

Originally Posted by Flying Ace

I already clear $200k, my problem is, I have a $100k/year hooker and coke habit.

Time to sell M3? Advise!

Lmao! I'm really starting to like this forum

[Beemdog]

Originally Posted by Flying Ace

I already clear $200k, my problem is, I have a $100k/year hooker and coke habit.

Time to sell M3? Advise!

Priceless advice: you can use the "finer things in life" to motivate you to make even more money. Think: Up-scale hookers, designer drugs, and more mods on the M3! And uh, don't work harder, work smarter. That's all I got...

Same to you OP: a nice car can motivate you to get a step up financially. If I had all the money back I blew on nice cars over the years, I'd take it and blow it on nice cars all over again.

[phidalgo12]

Hey guys I found an E46 M3 6spd (no BS SMG ) w/ Nav and sport Package 99,265 mi on it for $17,600 do you guys think that price is fair and a good starter??

[BNBM3]

The advice is solid. Buying a car with half your paycheck at 18 years old is incredibly foolish. Ever heard the term "get rich slowly"? I know it sounds awful, but these first 5 - 10 years of compound interest will equal millions of dollars when you are older. Lots of nice M3's, but certainly not worth millions.

Of course, we are always loose with our numbers when budgeting, aren't we? Half your paycheck, after maintenance or any major work is probably substantially more than half your check. Factor gas, living expenses, etc. You are car poor. And what happens after 6 months with a fancy new car? It loses it's luster. You'll be driving around wishing you had more money in the bank.

You guys are talking about keeping $5k aside, you really think this kid has $5k aside when spending half his paycheck on a car payment? First major bit of work and that car will be in the garage and he'll be begging dad for a loan just to get it back on the street.

So, so, so many better options for an 18 year old than to stretch this drastically to buy a car you cannot afford.

I spent my 20's working hard and starting a business... and driving a Hyundai. I don't regret it for a second. I'm 31 and have an M3 that I bought with cash from my rental properties. You could buy a cheaper car that is RWD and performance oriented. Why not a used 350Z for $15k?

[Alpha///M]

Got my first M3! What's this "mod bug" you keep talkn' bout?

[RoshDawg]

Originally Posted by Alpha///M

Got my first M3! What's this "mod bug" you keep talkn' bout?

Lol I seriously cracked up when I saw this
Congrats!

[JRMorgan]

Originally Posted by BNBM3

The advice is solid. Buying a car with half your paycheck at 18 years old is incredibly foolish. Ever heard the term "get rich slowly"? I know it sounds awful, but these first 5 - 10 years of compound interest will equal millions of dollars when you are older. Lots of nice M3's, but certainly not worth millions.

Of course, we are always loose with our numbers when budgeting, aren't we? Half your paycheck, after maintenance or any major work is probably substantially more than half your check. Factor gas, living expenses, etc. You are car poor. And what happens after 6 months with a fancy new car? It loses it's luster. You'll be driving around wishing you had more money in the bank.

You guys are talking about keeping $5k aside, you really think this kid has $5k aside when spending half his paycheck on a car payment? First major bit of work and that car will be in the garage and he'll be begging dad for a loan just to get it back on the street.

So, so, so many better options for an 18 year old than to stretch this drastically to buy a car you cannot afford.

I spent my 20's working hard and starting a business... and driving a Hyundai. I don't regret it for a second. I'm 31 and have an M3 that I bought with cash from my rental properties. You could buy a cheaper car that is RWD and performance oriented. Why not a used 350Z for $15k?

Seriously.

[buffstocover]

Dude. Come on. Half your paycheck for a car? That's insane. I would guess most people on here could buy a new 458 Ferrari if they plunked down half thei pay on the payment, yet it would still make more sense than what you've proposed because the other half of the paycheck would still be a decent amt of $. My advice, based on knowing virtually nothing about you other than you love cars like everyone else on here: find a nicely maintained e46 M3 and don't look back. they are sick cars.

[///M3AlpineWhite]

Listen everything the "adults" her said is very true. Save save save. But if you must I highly rec a 335i and just get it tuned. You can get a used one for around18k and put like 3k-5k of mods and go as fast as an m3. Dont get me wrong the m3 is an amazing car. Maybe even a e46 just to transition into it. An m3 is def alot of power and i def would not be alive if i had one at 18. my first bmw was an 88 528e MT. That was still amazing. Youd be amazed at how well any bmw handles. Also living in nyc rims and tires will suffer as will your suspension. Dont lower anything you get and do not get a stiffer suspension. Heck why even have a car if you live in the city. How much is it to park that sucker in a garage a month?! 500-1000?!?! Think about all the factors.

[loveskiing]

Originally Posted by phidalgo12

Who wouldn't be lol and yea it's about 6k a year in paying half and my dad is helping with the other half for the first few years in exchange for my good grades and he gets to use it once in a while ( another car enthusiast ) lol

+1
Wow there's been a ton of opinions on here about your original question OP, most of them are just that, somebody's personal opinion. They don't have a inkling or clue about your situation. Most of the opinions that you get our person's own projection about what they should/would or shouldn't/wouldn't have done in regards to buying an M3. Take each one of these with a grain of salt. I've highlighted your response because I think the person who is in the best position to give you advice is your dad. He's lived with you your entire life, knows your maturity level, and perhaps if he invests in the car and the two of you go in jointly, would be able to both share in the expenses and have his oversight with the care and maintenance of the vehicle. I personally don't think 18 is too young because there are some people at 40 that are too immature. Whatever you do I wish you well.

[jt1k]

Originally Posted by loveskiing

+1
Wow there's been a ton of opinions on here about your original question OP, most of them are just that, somebody's personal opinion. They don't have a inkling or clue about your situation. Most of the opinions that you get our person's own projection about what they should/would or shouldn't/wouldn't have done in regards to buying an M3. Take each one of these with a grain of salt. I've highlighted your response because I think the person who is in the best position to give you advice is your dad. He's lived with you your entire life, knows your maturity level, and perhaps if he invests in the car and the two of you go in jointly, would be able to both share in the expenses and have his oversight with the care and maintenance of the vehicle. I personally don't think 18 is too young because there are some people at 40 that are too immature. Whatever you do I wish you well.

+1 to what this guy said. Your father should give you this advice. While you work hard and go to school we don't know your situation. If half your check goes to car with help from dad. Can you afford other things in life as well? Can you walk into a mall and buy a shirt? Or take a girl on a date? Or go on spring break with the boys? At your age theirs plenty of time for an M car. Just saying don't give up all aspects of life and memories for a car at this point. Maybe your parents will pay for everything. Not trying to be a wise guy or jerk. But is dad paying insurance? If you get bad grades for a semester does he stop paying for car? All questions we can't answer. Good luck with your decision. Let us know what you decide to do.

[Sered]

Originally Posted by Ashley Schaeffer BMW

You should only buy an M3 if you clear $200k /yr after taxes.

LOL. No. Maybe for a 458 Italia. Congrats, that's the dumbest thing I'll read all day.

To the OP,
I'd get a nice clean 335i and do a few mods to it and drive that for now. They're way more affordable and have much lower maintenance costs (including far superior gas mileage).

[BimmerRookie]

My advice is to go with something else initially man...spending half your paycheck is irresponsible...What's so whrong with buying a mustang or a BRZ and then when you can truly afford it, buying a nicer car?

The maintenance and upfront costs are always mroe than you expect and these cars can become so unpredictable.

Put your love aside and think about your future OP. I'm a young newly graduated engineer. Yes, I work for an oil company and yes, I have a nice cushiony salary. Do I kinda wish I would have saved my money and went for a brand new mustang GT, maybe. Save save save man. You dont wanna be that guy who has an M3 but nothing else in life...

reprioritize bud.