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      12-17-2007, 11:31 AM   #1
SLNY2281
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I can't believe I'm doing this....

All, I regret to say that I will not be placing an order for the new M3. I was a proud owner of the e46 M3 and currently 330i sedan. With the purchase of a house in the immediate future, owning a 1k+ a month vehicle is not practical for me right now.
I am number 4 on the list at Open Road in Edison, New Jersey. If anyone is interested in taking over that spot, let me know.


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      12-17-2007, 12:55 PM   #2
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a very good idea my friend
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      12-17-2007, 01:05 PM   #3
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a very good idea my friend
Thanks moss. It's tme for this 27 year old to grow up. There is no better way to show your friends and family that you're doing just fine then buying a nice big house.
The M can wait....at least for now.

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      12-17-2007, 02:05 PM   #4
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Same here...

My wife and I bought some beautiful (yet pricey) land and though I had put my deposit on the M3 back in 05, I just gave the go ahead to buy an 08 335i that is on its way over on the boat. Hated to give up the M3, but buying a car in that price range is tough when you pick up an extra payment on land!
So,see some of you over on the E90post forums.
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      12-17-2007, 02:09 PM   #5
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Good luck on the house..

Remember on the house, you don't need to impress anybody except for yourself. Had I tried to impress my wife's family, I would have gone for a 1mil+ home and drive a beated up car. Instead, I choose a modest 700k home and enjoy our BMWs.

After you get the house, you will be back soon into the M3 scene.
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      12-17-2007, 02:53 PM   #6
SLNY2281
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Originally Posted by clubspec330i View Post
Good luck on the house..

Remember on the house, you don't need to impress anybody except for yourself. Had I tried to impress my wife's family, I would have gone for a 1mil+ home and drive a beated up car. Instead, I choose a modest 700k home and enjoy our BMWs.

After you get the house, you will be back soon into the M3 scene.
Thanks clubspec330i.
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      12-17-2007, 03:10 PM   #7
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Quote:
Originally Posted by clubspec330i View Post
Good luck on the house..

Remember on the house, you don't need to impress anybody except for yourself. Had I tried to impress my wife's family, I would have gone for a 1mil+ home and drive a beated up car. Instead, I choose a modest 700k home and enjoy our BMWs.

After you get the house, you will be back soon into the M3 scene.
Or you can buy that multi-million dollar So Cal house for less than $750K in the Mid-West and drive your BMW's through the snow
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      12-17-2007, 03:19 PM   #8
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Quote:
Originally Posted by SLNY2281 View Post
All, I regret to say that I will not be placing an order for the new M3. I was a proud owner of the e46 M3 and currently 330i sedan. With the purchase of a house in the immediate future, owning a 1k+ a month vehicle is not practical for me right now.

Stu
That's smart mate. I wanted to pay off my house before I considered a M3 or similar - priorities! And anyway, your rides are waaaay nicer than mine were when I bought my 1st home (and I was older!)
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      12-17-2007, 03:30 PM   #9
SLNY2281
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That's smart mate. I wanted to pay off my house before I considered a M3 or similar - priorities! And anyway, your rides are waaaay nicer than mine were when I bought my 1st home (and I was older!)
Thanks Voltigeur. Just so there's no confusion, I do not currently own both cars. I traded my e46 M3 for the e90 330i. (which I regret to this day) I just have the 330i for now and may consider keeping it considering that the payments are manageable. Plus, it'll still look good in the new driveway.

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      12-17-2007, 03:37 PM   #10
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Or you can buy that multi-million dollar So Cal house for less than $750K in the Mid-West and drive your BMW's through the snow
LOL, I was thinking the same thing sdriver.

BTW, 335i did absolutely great this past weekend in 8 in. of snow on brand new Hancooks (stock ZSP tire sizes, mounted on a second set of stock ZSP rims) which we had put on the night before (just in time!). The ratio of SUV to cars was 10:1 in the morning hours on Sunday, and boy was it fun to drive in.
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      12-17-2007, 03:47 PM   #11
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I agree with your priorities in purchasing a home. Just set funds aside for your M car later down the line.

Good Luck!
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      12-17-2007, 03:59 PM   #12
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Excellent choice, very smart.
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      12-17-2007, 04:57 PM   #13
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Good luck on the house..

Instead, I choose a modest 700k home and enjoy our BMWs.
Mate, that's SoCal, $700k for a "modest" home In south central TX that much will get your a really nice home - explains why we're seeing so many CAlly plates on the roads here now And no state income tax
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      12-17-2007, 07:27 PM   #14
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Real estate as an investment .... you have plenty of time. The market isn't finished declining, that seems obvious to me. So don't rush into a home unless you simply need a place to live and found the perfect one. And DEFINITELY don't do it to "show" anyone that you "can"! Show them your bank acct balance, that should be enough to impress. Lots of people have nice homes they can't afford, especially in SoCal! Not many 27 year olds have fat bank acct balances... be a shark, swoop in waving your money when a seller is weak... You will have lots of opportunities in the next few years....

With the economy turning, I myself question whether it's cool to be paying full MSRP for a "luxury" item right now...
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      12-17-2007, 11:27 PM   #15
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Quote:
Originally Posted by SLNY2281 View Post
All, I regret to say that I will not be placing an order for the new M3. I was a proud owner of the e46 M3 and currently 330i sedan. With the purchase of a house in the immediate future, owning a 1k+ a month vehicle is not practical for me right now.
I am number 4 on the list at Open Road in Edison, New Jersey. If anyone is interested in taking over that spot, let me know.


Stu
I have a feeling that I might be doing the same thing later this year Stu. I am 28 and looking to buy a house in the first half of '08 and with a likely $1K per month M3 lease, yeah that won't make much sense while having a mortgage between $3500 - $4200 for an 1,800sq ft $900-$1.1 million dollar "starter" home in Los Angeles:sad0147:

I haven't completely given up hope though
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      12-18-2007, 12:14 AM   #16
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I haven't completely given up hope though
I am in a similar situation. I am 27 and have been working for 2 year. I am married with 3 kids so the expenses add up quickly. I can afford the M3 but I must admit that it will cut into the amount I am looking to save as a % of my salary. My wife argues that I should be wise and save more money. I agree. However, I really want this car....

I am still debating whether i should do the right thing. On a positive note, I have seen my income go up almost 50% since I began working in Jan 06 so I figure that although the first year might be a stretch to pay over $1K for a car, i think that it will only get better as time passes.

Lucky bastards to those of you that don;t have tpo deal with this. But I can't complain considering that this car is within my reach when the majority of the world lives in poverty.

I am still optimistic that I can get the car. wish me luck...
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      12-18-2007, 12:17 AM   #17
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Quote:
Originally Posted by Voltigeur View Post
Mate, that's SoCal, $700k for a "modest" home In south central TX that much will get your a really nice home - explains why we're seeing so many CAlly plates on the roads here now And no state income tax
In Ohio $700K will buy you a new 4000+ sq ft. home. SoCal is a rip-off but I must admit it is better than lame Ohio
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      12-18-2007, 02:16 PM   #18
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Quote:
Originally Posted by Hans Delbruck View Post
Real estate as an investment .... you have plenty of time. The market isn't finished declining, that seems obvious to me. So don't rush into a home unless you simply need a place to live and found the perfect one. be a shark, swoop in waving your money when a seller is weak... You will have lots of opportunities in the next few years....

With the economy turning, I myself question whether it's cool to be paying full MSRP for a "luxury" item right now...
+1 This is spot on. The r/e market is going to be weaker in 2008 - especially in the markets w/ high ratio of subprime & low affordability ratios.
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      12-18-2007, 06:42 PM   #19
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You can live in a car, but you can't drive around in a house.




Seriously, make sure you're getting a great deal like those above me have said, the housing market isn't turning around for another year or longer.
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      12-18-2007, 11:16 PM   #20
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Quote:
Originally Posted by gadget View Post
I am in a similar situation. I am 27 and have been working for 2 year. I am married with 3 kids so the expenses add up quickly. I can afford the M3 but I must admit that it will cut into the amount I am looking to save as a % of my salary. My wife argues that I should be wise and save more money. I agree. However, I really want this car....

I am still debating whether i should do the right thing. On a positive note, I have seen my income go up almost 50% since I began working in Jan 06 so I figure that although the first year might be a stretch to pay over $1K for a car, i think that it will only get better as time passes.

Lucky bastards to those of you that don;t have tpo deal with this. But I can't complain considering that this car is within my reach when the majority of the world lives in poverty.

I am still optimistic that I can get the car. wish me luck...

27 and 3 kids, WOW I've got a dog and that is enough responsibilty for me!

Don't want to be taking your wifes side, but do you think a coupe with 3 kids makes sense too?

Anyways, it sounds like a lot of us late 20's early 30's gusy here are in similar situations. I ahve been eyeing and wnating the E92 M3 since I got my B7 Audi S4 2 1/2 yrs ago. But like you said, our personal financial situtaions should only be getting better with time, so if it doesn't make sense to get the car this year, then next year or the year after that will be better.
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