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      10-30-2006, 04:38 PM   #1
thedean786
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How much does one need for a BMW?

What is the minimum salary someone could have to comfortably afford a 3-series?

The reason I ask is because I got a job offer today
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      10-30-2006, 04:48 PM   #2
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That entirely has to do with how much you have left after all bills, what your investment strategy (if applicable), and other personal goals / spending habits.
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      10-30-2006, 04:50 PM   #3
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Quote:
Originally Posted by thedean786
What is the minimum salary someone could have to comfortably afford a 3-series?

The reason I ask is because I got a job offer today
Victor does it with $350 per month in California
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      10-30-2006, 05:14 PM   #4
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if you have to ask ... j/j well sort of

seriously, that's too general a question to answer and varies from each individual.
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      10-30-2006, 05:22 PM   #5
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      10-30-2006, 06:04 PM   #6
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      10-30-2006, 06:06 PM   #7
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In the USA people like to load themselves up with debt so everyone can afford a 3 series, they are cheap after all.
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      10-30-2006, 06:08 PM   #8
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An E21 is also a 3-series BMW. For anyone there is a suitable BMW. You can still have some fun with an old one as with a brand new one.
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      10-30-2006, 06:22 PM   #9
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Quote:
Originally Posted by thedean786
What is the minimum salary someone could have to comfortably afford a 3-series?

The reason I ask is because I got a job offer today
The question isn't what's the minimum salary to have one, it's after all your other bills and obligations are paid what do you have left from that salary? If the payment takes up more than a 1/4 of your remaining money than don't do it. That's just a general statement based on no true knowledge of you, it could change greatly based on the facts, debt-to-income ratio, etc.
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      10-30-2006, 06:31 PM   #10
thedean786
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Well let's see I have only school debt which is about 9K. I pay off my bills every month and live at home - I had to move back in when I lost my job.
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      10-30-2006, 06:33 PM   #11
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Look at it this way...

can you afford a $600-$800 monthly car payment, plus insurance, plus gas?

In MY case, it's $750 + $250 + $200... so, can you afford $1200/month to drive your car?

Matt
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      10-30-2006, 06:33 PM   #12
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When you buy a second hand BMW, do save some money for repairs (BMW parts and labour can be really expensive).
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      10-30-2006, 06:42 PM   #13
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avg bmw on this site is around 38+ i would guess.

but you really just need 30+ for a base bmw
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      10-30-2006, 06:44 PM   #14
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      10-30-2006, 06:50 PM   #15
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Congrats on the job offer! What, where, and how much?
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      10-30-2006, 06:53 PM   #16
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I always tell my friends: just save up at least 5K and then start looking. I put down 10K and I pay 500 dollars a month. But I live at home, so its not too bad of a problem. If you are trying to move back out, I would get a japanese used car, and then when I have got myself back on my feet financially, stable that is, then I would look at a new BMW.
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      10-30-2006, 06:55 PM   #17
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Quote:
Originally Posted by ///Matt
Look at it this way...

can you afford a $600-$800 monthly car payment, plus insurance, plus gas?

In MY case, it's $750 + $250 + $200... so, can you afford $1200/month to drive your car?

Matt
+1 - This is a good way to look at it. Expand on this with an itemized breakdown of your monthly food / groceries, rent, entertainment, etc.

Bear in mind your salary isn't what you're going to pocket. Let's say you get a $50K annual salary... after taxes, insurance, and if you decide to invest in a 401K, you're no where near making $50K/year.

If you're living at home, are your parents expecting you to move out ASAP once you accept a job offer? If not, and you don't mind (and THEY don't mind), perhaps you could offer to pay part of the rent and keep your costs down. Realistically speaking I don't think you'd stick to this plan till your car's paid off though. Just throwing it out there!
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      10-30-2006, 07:13 PM   #18
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I would feel kinda dumb if I had a BMW and lived at home but maybe that's just me Talk about priorities.
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      10-30-2006, 07:24 PM   #19
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Quote:
Originally Posted by whippersnapper
I would feel kinda dumb if I had a BMW and lived at home but maybe that's just me Talk about priorities.
Maybe... but imagine this conversation:

Lives-Alone: man, you're 20-something and still live at home?!
Lives@Home: I may live at home, but I drive a Bimmer! What do you drive?
Lives-Alone: *speechless*

LOL
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      10-30-2006, 07:42 PM   #20
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I mean my mother encouraged me to buy a BMW. I initally wanted a Maxima or G35, but she was like get the best thing you can because you live at home and dont have many bills. You will have to build your credit regardless, why not do it with a BMW. Plus I was 19 and im gonna be turning 21 on saturday, and im in college, so its not so bad after all.
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      10-30-2006, 07:58 PM   #21
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Quote:
Originally Posted by Ninjaneer
Maybe... but imagine this conversation:

Lives-Alone: man, you're 20-something and still live at home?!
Lives@Home: I may live at home, but I drive a Bimmer! What do you drive?
Lives-Alone: *speechless*

LOL
what does girl at bar say??
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      10-30-2006, 08:25 PM   #22
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If someone is single and just pay for rent (assuming $500-$700) with no debt....
$38000-42000 a yr salary can afford a 3 series in the USA...of course, you'll need to put some down payment
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