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      08-01-2011, 01:15 AM   #45
gizmo335i
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Very well written advice...



Quote:
Originally Posted by BayMoWe335 View Post
Youth is truly wasted on the young. Imagine what the right investing strategy could do for a 19 year old putting the money away. This decision could literally costs you hundreds of thousands when you retire.

It's not every day you can save a wad of money. Life gets more expensive the longer you live. I work for a Fortune 100 company with some seriously smart people. Still, I can't tell you how many colleagues I have that make more than $100k/year still can't save $1,500/month. They have kids, a mortgage, and a wife...It's just hard to do so you should do it while you can!

Admittedly, I am a nerd and always have been. I've never been like most kids my age. In 2000, I got a job at Walmart the day I turned 16 and made $9.50/hr and a $1 more on Sundays. Doesn't sound like much, but this was over 11 years ago and I took home over $1,200/month after taxes. I could have afforded a GTR too (except they weren't made then), but the point remains. Instead, I saved the money and even just 11 years later, I can tell you it was the best decision of my life. I saved diligently for almost 2 years and opened my first IRA in in 2002 (when I went to college to major in finance) and a brokerage account to have somewhere to put my cash that was quickly growing. I still thank my parents and professors for helping me. The Dow was in the 7,500-8,000 range when I bought an index mutual fund that paid a dividend I had auto re-invest. I'd have to do a complete spreadsheet to get the actual figures, but I can tell you that initial investment has well more than doubled.

Patience is a virtue and Mom and Dad won't pay the bills forever. I beg of you...take full advantage of earning some decent money and not having bills. IT WILL NEVER BE THAT WAY AGAIN!! Sure, you might earn more, but life gets exponentially more expensive.

However, there certainly isn't anything wrong with buying something you like; I just honestly think you'll regret it when you're older/wiser. Plus, my parents wouldn't have let me buy a car like that and continue to pay the bills for me. They would have told me I was a moron and that I needed to do the right thing while they were helping me. Buying this car really isn't a good decision, but it will be cool.

/rant

Just trying to give you a different perspective. Maybe it won't work. It's thought Ablert Einstein once said, "compound interest is the most powerful force in the universe." He might have been right.
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      08-01-2011, 01:31 AM   #46
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OP, congrats.

when I was 19, i did not HAVE a car. my family was dirt poor at the time and i worked just to pay my family's bills at that time and going to college.

so yes, i envy you like crazy. GTR is in a super car realm and that wont change for a long time. so once again, congrats.

can't say a bad thing about a young man who makes his own money to get a car that he wants. props to you. just dont earn your money in a illegal way, i hope. your dad has every right to support his own son so dont let anyone say a thing to you about that. so enjoy your super car. live your life like you want to life (in all things legal lol).

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      08-01-2011, 01:53 AM   #47
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Congrats! Wish you the best with the car decision! Make sure you enjoy yourself and ignore all the flamers.
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      08-01-2011, 02:13 AM   #48
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I have a feeling you may not have thought this out fully. You are either not going to be able to get financing or you are going to be late on quite a few payments and damage your credit. Either way thread carefully... I used to be in your shoes or think like you but dreams don't always come true, hope it does for you though, can't wait for the pics.
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      08-01-2011, 02:25 AM   #49
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shouldn't have said i was 19, does it really matter? I made this thread to show pics of my old 335i that i sold and was going to post pics of the gtr as soon as i got it and thats it... Thanks for all the advice though, although i didn't need it lol. I was hoping most of you would just say nice upgrade or have fun or whatever.. You guys may think what you want of me, but Pics will be up later today hopefully


Quote:
Originally Posted by BMWLove86 View Post
I have a feeling you may not have thought this out fully. You are either not going to be able to get financing or you are going to be late on quite a few payments and damage your credit. Either way thread carefully... I used to be in your shoes or think like you but dreams don't always come true, hope it does for you though, can't wait for the pics.
not using my credit

thanks though
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      08-01-2011, 02:43 AM   #50
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You just have to remember there's a lot of "Older" guys on a BMW forum and are always going to criticize "Younger" people on a decision like this. You can either take in each good post (forget the crazy ones) and keep it in your head at least, or just only look for the responses you want to see.

God forbid a world where the older guys don't try to give the younger guys advice and some criticism on things. I like it that this forum has some guys with some good advice. I wish I would have listened more over the years.

Congrats on the car and I wish I could have had a car like that when I was 19.
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      08-01-2011, 02:59 AM   #51
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I call BS..Aren't you the kid with a Lexus IS350 @ 17 and sold it just 2 months ago to buy the 335?

Making $2000 per month buying a IS350, 335, and a GTR ?

Here is the break down of cost.. ~60-70k for used GTR. $2000 per month can cover the monthly payment of the car but you forgot about gas, insurance, state fees, maintenance... ~$2600 for insurance (most likely will cost more since you are only 19) , ~$2000 for gas, $1000-$2000 for maintenance (used car after all), state fees in CA.. GL with that..

You are looking at nearly 15k per year alone for the cost of ownership not including financing.. If you didn't know.. a brake job on the GTR cost $8000...

Like someone else said.. I would of respected you if you just admit your daddy bought it for you..
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      08-01-2011, 03:01 AM   #52
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Well I'm in your shoes/was in your shoes except age wise, i'm 25 years old and make almost $4000 a month and still live at home, I few months back before I got my 335i I was all about getting a BMW M6. I was all set, technically yea I could have afforded one, but looking back now, I don't think it would have been a smart move. Emergencies always comes up it's part of life, if most of your monthly income is going to your car payment if the car is to breakdown it's going to be sitting around before you can fix it. Let's alone as you said insurance for a GTR isn't going to be cheap for a 19 year old. Even gas these days will put a hole in your wallet. Yea you may have a GTR but no gas money left to drive it around. If you say you aren't using credit then are you saying you have $60,000+ cash to drop on this car. If so then at least it won't be a financial burden to you for a long time compared to if you had to make payments. Like others said though if you invested that money you could buy something as nice plus a down payment on a home in a few years.
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      08-01-2011, 03:03 AM   #53
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I think the comments being made are very valid..thinking back at 19 all my friends were spending their money on new cars..assuming car payments they could barely make..i decided I wanted to save my money and buy a condo b4 buying a new car to build equity..first brand new car I ever owned was this 335i at 28..but hey OP if u got it like that then live it up and ignore us old farts..
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      08-01-2011, 03:17 AM   #54
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Congrats man, take me for a ride someday!
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      08-01-2011, 03:20 AM   #55
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Great Nissan you picked.....I really like GT-R's
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      08-01-2011, 03:38 AM   #56
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Quote:
Originally Posted by Tee212 View Post
Congrats man, take me for a ride someday!
haha forsure bro, still want to see those wheels in person, still wish i kept mine ha

Quote:
Originally Posted by twinturbo335 View Post
I call BS..Aren't you the kid with a Lexus IS350 @ 17 and sold it just 2 months ago to buy the 335?

Making $2000 per month buying a IS350, 335, and a GTR ?

Here is the break down of cost.. ~60-70k for used GTR. $2000 per month can cover the monthly payment of the car but you forgot about gas, insurance, state fees, maintenance... ~$2600 for insurance (most likely will cost more since you are only 19) , ~$2000 for gas, $1000-$2000 for maintenance (used car after all), state fees in CA.. GL with that..

You are looking at nearly 15k per year alone for the cost of ownership not including financing.. If you didn't know.. a brake job on the GTR cost $8000...

Like someone else said.. I would of respected you if you just admit your daddy bought it for you..
haters gonna hate thats me in my gtr

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do some research, then come back and talk to me.



Quote:
Originally Posted by tibra1 View Post
I think the comments being made are very valid..thinking back at 19 all my friends were spending their money on new cars..assuming car payments they could barely make..i decided I wanted to save my money and buy a condo b4 buying a new car to build equity..first brand new car I ever owned was this 335i at 28..but hey OP if u got it like that then live it up and ignore us old farts..

thanks bro, some guys just don't realize I'm spending most of my income on this car, which is why its possible for me, and while some may think its stupid, i really do not mind. Ever since i was 17 all i did was spend my money on mods mods mods for my previous cars, realized if i saved all that money i could upgrade to another car, which is what I'm now doing..
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      08-01-2011, 04:05 AM   #57
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HUGEE PROPS!!! im in socal we should kick it lol do your thing.. a friend of mines doing the same in LA. dont hate on the guy
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      08-01-2011, 04:16 AM   #58
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Trips me out that so many of you are up this late....
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      08-01-2011, 04:48 AM   #59
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I've got a non HDMI xbox with a blown GPU. Wanna fix it, so I can sell it, and get a Mtech bumper?
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      08-01-2011, 07:23 AM   #60
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get it! lol nah jp I was in the same situation except I'm 21 now and was thinking of doing the same thing and putting like 20k down before I got my 335i but I could never see paying 1,000 plus a month unless I made like 5,000+ a month and still with no rent lol but true its a lot better then buying other things like clothes, shoes, whatever...but honestly I would invest the money I mean a GTR is hella clean tho lol but IMO I would not spend that much money its a step up from 335i but its an AUTO lol to each his own I think you might as well try a pull off and get a used lambo
unless your looking at used GTR's that are for like 60k
but just keep doing what your doing regardless of what anyone says!
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      08-01-2011, 07:27 AM   #61
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Quote:
Originally Posted by Toker335i View Post
...Call me spoiled or whatever i don't care, i know im paying for this so thats all that matters...
Good for you and good luck with your new ride
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      08-01-2011, 07:51 AM   #62
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Shit if i didn't have to pay for things i'd have gone for a 911 turbo.
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      08-01-2011, 08:01 AM   #63
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at age 19 to buy his own GTR!
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      08-01-2011, 08:26 AM   #64
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Quote:
Originally Posted by BayMoWe335 View Post
See, this is the problem. He's spending most of the money he earns on a car payment. People will view him as "husslin" and "smart" but it's really just the opposite.
Sorry, maybe I should clarify a few things.

[rant]
By no means am I saying that he is being smart with his income nor did I intend my comment to encourage others to follow in his exact footsteps. I hope that any young person reading this really thinks hard about following the same path. However, given the fact that OP seems to have decided to go down this path already there is also nothing wrong about it either. He's young and it's better to get all of this stuff out of his system now rather than later. He has plenty of time left in his life to re-coup. Will it be tougher having dumped that money into a car at this age? Probably, but who's to say?

It's just the paradox of life. If he takes that money and invests it like what a "smart" person would do, sure he might be better off financially later but there is also a chance that he will never have a chance to own such a vehicle or even if he can he probably shouldn't. The way I see it, it's not that much different than those that spend time backpacking through Europe or travel the world after they graduate from university. Or those of us on this very forum who dump money into modifying our cars even though they are depreciating assets or on lease. They are deciding to trade a bit of the future to gain a life experience while they can and bodies are able because who knows what life brings and they may never get another chance.

At various points in everybody's life we have to decide if we want to risk some of the future to gain / experience something now and it will all come down to how much a particular person values that experience. It's the kid's money and life so it's his decision. We also shouldn't forget the fact the kid does have parents and they don't seem to have an issue with it so who are we to judge.

To each their own. Right or wrong is a lot like beauty at times, it's in the eye of the beholder.
[/rant]
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      08-01-2011, 08:46 AM   #65
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Quote:
Originally Posted by Revision2 View Post
Sorry, maybe I should clarify a few things.

[rant]
By no means am I saying that he is being smart with his income nor did I intend my comment to encourage others to follow in his exact footsteps. I hope that any young person reading this really thinks hard about following the same path. However, given the fact that OP seems to have decided to go down this path already there is also nothing wrong about it either. He's young and it's better to get all of this stuff out of his system now rather than later. He has plenty of time left in his life to re-coup. Will it be tougher having dumped that money into a car at this age? Probably, but who's to say?

It's just the paradox of life. If he takes that money and invests it like what a "smart" person would do, sure he might be better off financially later but there is also a chance that he will never have a chance to own such a vehicle or even if he can he probably shouldn't. The way I see it, it's not that much different than those that spend time backpacking through Europe or travel the world after they graduate from university. Or those of us on this very forum who dump money into modifying our cars even though they are depreciating assets or on lease. They are deciding to trade a bit of the future to gain a life experience while they can and bodies are able because who knows what life brings and they may never get another chance.

At various points in everybody's life we have to decide if we want to risk some of the future to gain / experience something now and it will all come down to how much a particular person values that experience. It's the kid's money and life so it's his decision. We also shouldn't forget the fact the kid does have parents and they don't seem to have an issue with it so who are we to judge.

To each their own. Right or wrong is a lot like beauty at times, it's in the eye of the beholder.
[/rant]
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      08-01-2011, 09:02 AM   #66
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My only comment:
Quote:
Originally Posted by Gator328i View Post
if you're going to spend that much money for a car why not just ante up and drop another 20k for a Ferrari California?
Someone please find me that California!
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