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      06-09-2010, 04:36 PM   #23
e46e92love
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Yeah stay patient if you can.....I mean your are 20 already? How can you bear to wait such a long time for your dream car. After 4 years of hard work and labor, and to have only owned a e46M3 and 135i? Not to have your dream car already?

Tell you, the kids these days have it rough....I don't know how they make it.

Cheers,
e46e92
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      06-09-2010, 05:55 PM   #24
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do what i did, live in brooklyn for 30 years,learn to make pizza move to the midwest open 2 or 3 REAL ny style places, pizza by the slice or pie, sell each slice for $4 - do volume
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      06-09-2010, 05:55 PM   #25
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Go used like I did and let someone else take the depreciation hit.

http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb

And talk them down a couple of thousand while you're are it.
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      06-09-2010, 07:33 PM   #26
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Quote:
Originally Posted by SUB-ZERO View Post
I think a well appointed m3 ($70k-$72k ) at 2.9% with about $5k down will be between $950-$1200 per month depending on the type of financing that you do. If you do the BMW preferred plan with a balloon payment at the end of the loan, you can achieve a monthly payment of about $950 with a balloon of about $20k at the end. Take a look at the calculator on the BMW site, it will give you a very close approximation.

Oh, BTW, normally as a good rule of thumb, keeping your car payment to 1/8 of your net monthly income is a good financial choice (I personally try to stay at 1/16). At your age, I recommend keeping your debt low and invest in yourself or your business. However, if you can write your car off for a business expense, then you may want to lease.

-SZ
Really? So you're saying if he takes home $5000 per month after taxes, 401(k) contributions, flex account contributions, etc., he can only afford a car payment of $625 a month? That doesn't seem like much, certainly not enough for an M3 with minimal cash down.
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      06-09-2010, 07:38 PM   #27
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Originally Posted by e46e92love View Post
Yeah stay patient if you can.....I mean your are 20 already? How can you bear to wait such a long time for your dream car. After 4 years of hard work and labor, and to have only owned a e46M3 and 135i? Not to have your dream car already?

Tell you, the kids these days have it rough....I don't know how they make it.

Cheers,
e46e92
I love the sarcasm. I'm in my mid thirties and I feel that way every time my cousins, nephews and nieces bitch about not having nice cars to drive, even though they still live w/ their parents.
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      06-09-2010, 07:54 PM   #28
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I paid off my former car and then put money away every month out of my paycheck for two years (2008-2010). I then had enough to get it (just received it two weeks ago).

Of course, I don't make as much as some so I had to be patient. Two years patient. But it was worth the pay off

I'm 27 by the way.
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      06-09-2010, 08:41 PM   #29
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if you go pre-owned "CPO"... M3's a hard to find, only very few available and they go fast, and they are not even good value as CPO...the price just would not go down much on M3... that is compared to that of an M6 or an M5... and those are 1/2 price of MSRP just 2 or 3 years later.... go figure. Bottom line,- if you are going CPO route ///M car... M6 and M5 will give you a lot more for $55k than an M3 would.
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      06-09-2010, 08:59 PM   #30
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How do you get 780+ credit score at the age of 20?
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      06-09-2010, 09:16 PM   #31
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Just save enough to make a down payment to get to a monthly payment you are comfortable with. You know how much you can afford to pay monthly just save enough to make a down payment or buy used. How and when you spend your money is personal preference. I'd rather enjoy a car while making comfortable payments but you live once buy whenever you want and enjoy.
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      06-18-2010, 03:28 PM   #32
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thank you my friend, love the optimism. And a positive post like this i can not only help but look to as an omen. haha I will be patient and wait for that dream car to come along, and when i feel it is the one, i will pluck it from the bunch. I guess its just gives me some more time to me decide my which color-way thanks you all for the wisdom you have shared, your advice will not be overlooked nor taken for granted. Will keep you all posted on my next move whether it is a e92 m or "m1". BMW FTW
bmw13, I've red your post with interest. I see you also had a m3 2002, I sold mine early this year since it was just in storage for the winter time. Sorry to see that you totaled your M3.

I got into a 2009 Z4 sDrive 3.5i now I can tell you from experience that my Z4 is as powerful as my original M3. Of course you know it is the weight factor. The Z is just a bit lighter then all that counts as you know. Bottom line is I prefer the Z4 over the M3.

Now my recommendations to you are find a nice used M3 when you are ready to commit. In doing so you save at least $25K. I did when I got my 2002 in 2004 with very low milage. The car was driven by a Doctor and he returns his cars always after 2 years.

Also remember that the BMW's are designed and build to be driven at high speeds on the autobahn and similar roads in Europe. So what I am trying to say is if you find one (this forum and others like the Bimerfest) are great resources. Just let folks know when you are ready.

I know when you get a new M3 you have all the choices of color options etc. Still once you find one it may have most of what you are looking for and also remember we BMW drivers take good care of our cars

One day you will get that dream car and you will love it .... Good luck to you!
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      06-18-2010, 03:34 PM   #33
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Originally Posted by Dannys 335i View Post
Go used like I did and let someone else take the depreciation hit.

http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb

And talk them down a couple of thousand while you're are it.
+1 Excellent Point I saved $25K Canadian when I purchased a used M3 2002 in the spring of 2004
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      06-18-2010, 03:35 PM   #34
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Originally Posted by That Nice Guy Beck! View Post
do what i did, live in brooklyn for 30 years,learn to make pizza move to the midwest open 2 or 3 REAL ny style places, pizza by the slice or pie, sell each slice for $4 - do volume
+1 very true you never get rich working for others. Bet none of your staff drives an M3
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      06-19-2010, 01:48 PM   #35
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How do you get 780+ credit score at the age of 20?
get a credit card when your young, establish a line of credit,

and make payments on time, and pay off bills completely

I have a 765 and i'm 27, but i've had great credit starting off young. Parents taught me well.

So i guess it is possible?
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      07-01-2010, 12:50 PM   #36
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Originally Posted by Leozap View Post
How do you get 780+ credit score at the age of 20?
always paid for cell phone bill, health insurance, and put x amount of dollars down on my e90 330i no consignee, drove it for 8 months, made payments always on time, traded that in for my 1er which i am still making payments on, i actually just received my first credit card yesterday, all you need is to have several basic bills that you always pay on time, pretty simple concept. i too was surprised to hear my score, even after never having a credit card until yesterday.
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      07-01-2010, 12:52 PM   #37
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Originally Posted by Rolf-Dieter View Post
bmw13, I've red your post with interest. I see you also had a m3 2002, I sold mine early this year since it was just in storage for the winter time. Sorry to see that you totaled your M3.

I got into a 2009 Z4 sDrive 3.5i now I can tell you from experience that my Z4 is as powerful as my original M3. Of course you know it is the weight factor. The Z is just a bit lighter then all that counts as you know. Bottom line is I prefer the Z4 over the M3.

Now my recommendations to you are find a nice used M3 when you are ready to commit. In doing so you save at least $25K. I did when I got my 2002 in 2004 with very low milage. The car was driven by a Doctor and he returns his cars always after 2 years.

Also remember that the BMW's are designed and build to be driven at high speeds on the autobahn and similar roads in Europe. So what I am trying to say is if you find one (this forum and others like the Bimerfest) are great resources. Just let folks know when you are ready.

I know when you get a new M3 you have all the choices of color options etc. Still once you find one it may have most of what you are looking for and also remember we BMW drivers take good care of our cars

One day you will get that dream car and you will love it .... Good luck to you!
thanks a lot man, i too do love my current 1er, and N54 i just dont like the heat soak and the less focused suspension that comes with it
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      07-01-2010, 01:49 PM   #38
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How do you get 780+ credit score at the age of 20?
It can be done. I was 24 when I got my E46 M3 and I dont' remember exactly what the score was when they ran it but it was in the 750's. After signing for the car and then getting a mortgage a year later, i was quickly down to 690. And never paid anything late. Debt to income ratio has something to do with it too.
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      07-01-2010, 02:03 PM   #39
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Quote:
Originally Posted by Crazy_Diamond View Post
Really? So you're saying if he takes home $5000 per month after taxes, 401(k) contributions, flex account contributions, etc., he can only afford a car payment of $625 a month? That doesn't seem like much, certainly not enough for an M3 with minimal cash down.
Yep...you read between the lines...
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      07-02-2010, 01:25 PM   #40
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Quote:
Originally Posted by Crazy_Diamond View Post
Really? So you're saying if he takes home $5000 per month after taxes, 401(k) contributions, flex account contributions, etc., he can only afford a car payment of $625 a month? That doesn't seem like much, certainly not enough for an M3 with minimal cash down.
i honestly cant put a price on the joy i get from driving, the money would not go to waste, i have no kids. i work, drive it just comes down to getting into a comfortable payment, we cant all be as wealthy as sub zero
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      07-02-2010, 02:30 PM   #41
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Looks like you would take a HUGE hit trading in your car now since you still owe that much. I would just work on paying down the 135i and then think about the M3
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      07-02-2010, 02:36 PM   #42
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This is what I did BMW13, and this is my 2 pennies. I just graduated with a nursing degree. Worked at night, went to school during the day. yes my grades weren't as impressive like I wanted them to be, and yes i was tired most of the time during clinical and class lectures, but I had a goal, and I worked hard on attaining that goal. Everything is possible if you set your mind on accomplishing that goal. I am not trying to be religious here, but I placed God first, and everything else is second. Now that I graduated, I am ready to work as a male nurse, and purchase that E9x M3 . Time to play i guess.
The choice is yours.
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      07-02-2010, 04:40 PM   #43
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I sold my 335i a couple of weeks ago and will be picking up my new E90 M3 in 10 days time, but, my dream car is a 430 Scuderia...can you guys tell me when to sell the M3 and how i can get into a 430..................
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      07-02-2010, 04:43 PM   #44
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I haven't read one post in this thread but from the title I'll answer your question with the only answer you need to remember:

WORK HARD
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