BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > General M3 Forum (E90 + E92 + E93)
 
Alpine HID
View Poll Results: Your Gross Income
Less than $30,000 41 6.71%
$30,001 - $40,000 9 1.47%
$40,001 - $50,000 18 2.95%
$50,001 - $60,000 19 3.11%
$60,001 - $70,000 33 5.40%
$70,001 - $80,000 42 6.87%
$80,001 - $90,000 34 5.56%
$90,001 - $100,000 38 6.22%
$100,001 - $120,000 71 11.62%
$120,001 - $140,000 52 8.51%
$140,001 - $160,000 39 6.38%
$160,001 - $180,000 29 4.75%
$180,001 - $200,000 19 3.11%
$200,001+ 167 27.33%
Voters: 611. You may not vote on this poll

Post Reply
 
Thread Tools Search this Thread
      05-23-2012, 07:08 PM   #89
persian54
Lieutenant General
 
persian54's Avatar
 
Drives: SL550. Prev: E93 M3/335i/Z435i
Join Date: Jun 2009
Location: The Valley, SoCal

Posts: 15,722
iTrader: (289)

Quote:
Originally Posted by jdemetry View Post
I was ballparking...

$200k * ( 1 - .20(fed) - 0.065 (WI state) - 0.042 (SS) - 0.06 (401(k), not really taxes, but I won't see it for 30 years) - 0.02 (Medicare) ) = ~$120k
I don't know much about taxes, but I do know my accountant does seem to do a good job...

Quote:
Originally Posted by jdemetry View Post
That's actually less than housing costs in Milwaukee. I would have thought LA was way more money. I guess this is another example of "don't believe the hype"
You guys need to remember that LA is really big and diverse. you go from the ghetto to million dollar houses quickly
persian54 is online now   United_States
0
Reply With Quote
      05-23-2012, 07:15 PM   #90
Scotch M3
BMW Virgin
 
Scotch M3's Avatar
 
Drives: 2005 Honda Accord
Join Date: May 2012
Location: Dirty Jersey

Posts: 106
iTrader: (0)

Quote:
Originally Posted by nmehta211 View Post
A guy I trained (I'm in medicine) went to Kansas City and bought a house, Range Rover, BMW 5 series and took two nice trips this year, all in his first year of practice. He makes more than me to boot!

NYC is brutal. But i chose this punishment for all the fun it is every day. City tax, expensive apartments, parking that rivals rent payment, and high cost of gas---sigh.

Anyways, interesting thread. Really puts things into perspective for me on cost of living. I hate to say it but I did the math, and I couldn't really feel comfortable buying this car new so I bought a CPO. And I make a pretty damn good income.
I am guessing from your username ur a desi sir!
Scotch M3 is offline   United_States
0
Reply With Quote
      05-23-2012, 07:17 PM   #91
24601
Major
 
24601's Avatar
 
Drives: 2013 E92 M3
Join Date: Oct 2009
Location: Oahu, Hawaii

Posts: 1,122
iTrader: (1)

Garage List
2013 Toyota Prius  [0.00]
2014 BMW 750Li  [0.00]
2013 BMW M3  [5.00]
Quote:
Originally Posted by yoelev View Post
there should be a seperate spot that says

"spoiled"
LMAO!
24601 is offline   United_States
0
Reply With Quote
      05-23-2012, 07:18 PM   #92
Scotch M3
BMW Virgin
 
Scotch M3's Avatar
 
Drives: 2005 Honda Accord
Join Date: May 2012
Location: Dirty Jersey

Posts: 106
iTrader: (0)

Quote:
Originally Posted by SamS View Post
Apparently you're not familiar with the headaches that are involved with renting out a $100K house. I'll dump that money into an M3 down payment, any day
Every business have different headaches, I have my DJ business on side and I work with South Asian community. Trust me Sam I can handle the headaches related to rental business
Scotch M3 is offline   United_States
0
Reply With Quote
      05-23-2012, 08:35 PM   #93
nmehta211
Second Lieutenant
 
Drives: 08 E90 M3
Join Date: Jan 2006
Location: NYC

Posts: 273
iTrader: (1)


Quote:
Originally Posted by Scotch M3 View Post
I am guessing from your username ur a desi sir!
__________________

08 E90 M3 Interlagos Blue
99 E36 M3 Cosmos, #2--Sold
99 E36 M3 Cosmos, #1--Sold
nmehta211 is offline  
0
Reply With Quote
      05-23-2012, 09:01 PM   #94
Giggs
Major
 
Giggs's Avatar
 
Drives: R8
Join Date: Jul 2008
Location: SoCal

Posts: 1,125
iTrader: (5)

There are people who make less than 50K/year and own an M3? Yikes, do you eat?
Giggs is offline   United_States
0
Reply With Quote
      05-23-2012, 10:11 PM   #95
Aquariu///M
Captain
 
Aquariu///M's Avatar
 
Drives: 2009 M3 E92 & 13 X5///M
Join Date: May 2010
Location: Diamond Bar

Posts: 785
iTrader: (6)

I'm married with 3 kids
Aquariu///M is offline  
0
Reply With Quote
      05-23-2012, 10:46 PM   #96
Gins
I can't find my pants.
 
Gins's Avatar
 
Drives: '15 Supergirl Combo M3, YMB-SO
Join Date: May 2011
Location: 8=====D \o/ 335i, yo

Posts: 2,435
iTrader: (5)

Garage List
2008 BMW M3 E90  [0.00]
Quote:
Originally Posted by yoelev View Post
there should be a seperate spot that says

"spoiled"
Gins is offline   No_Country
0
Reply With Quote
      05-24-2012, 05:43 AM   #97
LarThaL
Colonel
 
LarThaL's Avatar
 
Drives: 2011 M3
Join Date: Apr 2011
Location: West Springfield, MA

Posts: 2,482
iTrader: (0)

Quote:
Originally Posted by nmehta211 View Post
A guy I trained (I'm in medicine) went to Kansas City and bought a house, Range Rover, BMW 5 series and took two nice trips this year, all in his first year of practice. He makes more than me to boot!

NYC is brutal. But i chose this punishment for all the fun it is every day. City tax, expensive apartments, parking that rivals rent payment, and high cost of gas---sigh.

Anyways, interesting thread. Really puts things into perspective for me on cost of living. I hate to say it but I did the math, and I couldn't really feel comfortable buying this car new so I bought a CPO. And I make a pretty damn good income.
Brutal for the cost of living in NYC is an understatement. Think about this:

The cost of an average property in the Tribeca area of NYC is $2.3million. The cost of the average property in Kansas City is $135,000, with the Kansas city property having double the square footage living space, a single garage and land, and the manhattan property having none of these!!!

Of course if you want sushi at 2am in kansas City, you are shit out of luck, and their idea of ethnic food is pizza.

Salaries are higher thre because nobody want to go there. Life is all about supply and demand.
__________________
Precision tool: 2011 BMW ///M3
Sledgehammer: 2014 Audi S6

LarThaL is offline  
0
Reply With Quote
      05-24-2012, 05:55 PM   #98
Scotch M3
BMW Virgin
 
Scotch M3's Avatar
 
Drives: 2005 Honda Accord
Join Date: May 2012
Location: Dirty Jersey

Posts: 106
iTrader: (0)

Quote:
Originally Posted by nmehta211 View Post
I am also taking a shot that Mehta = Gujjubhai.

Glad to meet a fellow Desi with great interest and knowledge in BMW.

Very few actually understands BMW rest it's all about status and show off.
Scotch M3 is offline   United_States
0
Reply With Quote
      05-25-2012, 10:21 AM   #99
nmehta211
Second Lieutenant
 
Drives: 08 E90 M3
Join Date: Jan 2006
Location: NYC

Posts: 273
iTrader: (1)

Quote:
Originally Posted by Scotch M3 View Post
I am also taking a shot that Mehta = Gujjubhai.

Glad to meet a fellow Desi with great interest and knowledge in BMW.

Very few actually understands BMW rest it's all about status and show off.
Yep--right again!
Gotta love these cars!
__________________

08 E90 M3 Interlagos Blue
99 E36 M3 Cosmos, #2--Sold
99 E36 M3 Cosmos, #1--Sold
nmehta211 is offline  
0
Reply With Quote
      05-25-2012, 10:34 AM   #100
malter2.0
Banned
 
Drives: em-funf
Join Date: Jun 2006
Location: SF Bay Area

Posts: 908
iTrader: (0)

Garage List
I buy all my M3s second hand usually at the end of the cycle. Most likely buy E9x in 2013/2014 as F80 rolls out. This is typically the optimal point to buy as car and chassis are still new, miles are still low, yet car has depreciated significantly.

I also have personal policy that I only buy cars with cash. If I can't pay it out right, I don't buy and never finance.
malter2.0 is offline   United_States
0
Reply With Quote
      05-25-2012, 09:46 PM   #101
Drifty//
First Lieutenant
 
Drives: A4 quattro 3.2 MT6; E92 6MT
Join Date: Mar 2012
Location: Boston

Posts: 310
iTrader: (0)

Quote:
Originally Posted by LarThaL View Post
Of course if you want sushi at 2am in kansas City, you are shit out of luck
As far as I know, the late night scene ain't great.

Quote:
their idea of ethnic food is pizza.
That's just not true. KC has no shortage of dining options. There are other things you might not like about it, but they do know how to eat and shop there. And the road system is pretty nice, as well.

Quote:
Salaries are higher thre because nobody want to go there.
On average, I doubt they're higher. Crime is low, schools are decent, land is cheap. Centrally located. A lot of people don't seem to mind it.
Drifty// is offline   United_States
0
Reply With Quote
      05-25-2012, 10:04 PM   #102
Drifty//
First Lieutenant
 
Drives: A4 quattro 3.2 MT6; E92 6MT
Join Date: Mar 2012
Location: Boston

Posts: 310
iTrader: (0)

Quote:
Originally Posted by malter2.0 View Post
I also have personal policy that I only buy cars with cash. If I can't pay it out right, I don't buy and never finance.
Interest rates being what they are, there's a good argument for financing. This does assume you have a reasonable degree of financial aptitude and a modicum of risk tolerance.

I financed 50% of the purchase price, and sold investments back in March to cover the rest. I'm certain to pay off the loan early, but this gives me the flexibility to pay or invest, as a function of market conditions. If the market takes off, I might even sell more stock and put it towards the loan.

I could have paid 100% in cash, but I don't regret my decision to hedge. It could still work out in my favor.
Drifty// is offline   United_States
0
Reply With Quote
      05-25-2012, 10:04 PM   #103
embacpa
Enlisted Member
 
Drives: 2011 M3 Sedan
Join Date: Jan 2012
Location: summerfield, nc

Posts: 35
iTrader: (0)

i'm not an economist, but based on the results there are way too many people buying these cars that should not be. we are struggling to get though the housing crisis where too many people purchased more house than they could afford. i got a feeling we might start to see significant defaults on leases. the next credit crisis.

Last edited by embacpa; 05-25-2012 at 10:16 PM.
embacpa is offline  
0
Reply With Quote
      05-25-2012, 10:06 PM   #104
1MOREMOD
2014 Track Days - 6|Ridge 1:54:61|Pacific 1:35:72
 
1MOREMOD's Avatar
 
Drives: Race car->
Join Date: Mar 2009
Location: check your mirrors

Posts: 11,607
iTrader: (5)

ive just been doing my part to jump start the ecomomy again.
__________________

02 Tiag e46 M3|6MT|GC plates|MCS c.o.|GC bars|GC race control arms|GC bushings & bearings|BW eng. & tran. mounts|subframe kit|BW race shifter|BW Jaffster|Euro header|BW race|K&N c.a.i.|Epic race tune|Rouge pulleys|Seibon CF hood|CSL bumper|ST-40|XR-2|SS lines|half cage|Recaro profi|Profi 2 harness|BMWpedals|BW studs|
1MOREMOD is offline   United_States
0
Reply With Quote
      05-25-2012, 10:15 PM   #105
embacpa
Enlisted Member
 
Drives: 2011 M3 Sedan
Join Date: Jan 2012
Location: summerfield, nc

Posts: 35
iTrader: (0)

Quote:
Originally Posted by chriszeh View Post
ive just been doing my part to jump start the ecomomy again.
now that's a positive outlook!! i do believe in a consumption economy!

Last edited by embacpa; 05-26-2012 at 12:04 PM.
embacpa is offline  
0
Reply With Quote
      05-26-2012, 12:02 AM   #106
1MOREMOD
2014 Track Days - 6|Ridge 1:54:61|Pacific 1:35:72
 
1MOREMOD's Avatar
 
Drives: Race car->
Join Date: Mar 2009
Location: check your mirrors

Posts: 11,607
iTrader: (5)

Quote:
Originally Posted by embacpa View Post
not that' a positive outlook!! i do believe in a consumption economy!
well i consume my fair share and shit out some for the next guy.
__________________

02 Tiag e46 M3|6MT|GC plates|MCS c.o.|GC bars|GC race control arms|GC bushings & bearings|BW eng. & tran. mounts|subframe kit|BW race shifter|BW Jaffster|Euro header|BW race|K&N c.a.i.|Epic race tune|Rouge pulleys|Seibon CF hood|CSL bumper|ST-40|XR-2|SS lines|half cage|Recaro profi|Profi 2 harness|BMWpedals|BW studs|
1MOREMOD is offline   United_States
0
Reply With Quote
      05-26-2012, 09:56 AM   #107
CDM3DCT
Second Lieutenant
 
CDM3DCT's Avatar
 
Drives: Jet Black M3 DCT
Join Date: Dec 2010
Location: Maryland

Posts: 280
iTrader: (0)

Its all comes down to disciplined savings and budgeting. I Work inside the district but I own property in MD, gave a reasonable DP on my used e92 M3 and still kept my accord as a daily due to my job. Im at the 50-60K mark and although I cant go out every single night of the week I still live a very comfortable life being able to go on vacations and enjoy my weekends (no kids, long term GF with a spinner or two on the side).

Simple economics, save money! even if its a little. It goes a long way in the long run.
CDM3DCT is offline  
0
Reply With Quote
      05-26-2012, 12:35 PM   #108
1MOREMOD
2014 Track Days - 6|Ridge 1:54:61|Pacific 1:35:72
 
1MOREMOD's Avatar
 
Drives: Race car->
Join Date: Mar 2009
Location: check your mirrors

Posts: 11,607
iTrader: (5)

Quote:
Originally Posted by SehrSchnell View Post
That's why I lease with my low income. If I can't pay anymore I can return the lease at anytime I think. I probably wouldn't ask my parents for help, because I'm trying to stand on my own.
How do you also manage the 40K in mods you have? Still not buying it.
__________________

02 Tiag e46 M3|6MT|GC plates|MCS c.o.|GC bars|GC race control arms|GC bushings & bearings|BW eng. & tran. mounts|subframe kit|BW race shifter|BW Jaffster|Euro header|BW race|K&N c.a.i.|Epic race tune|Rouge pulleys|Seibon CF hood|CSL bumper|ST-40|XR-2|SS lines|half cage|Recaro profi|Profi 2 harness|BMWpedals|BW studs|
1MOREMOD is offline   United_States
0
Reply With Quote
      05-26-2012, 01:00 PM   #109
Giggs
Major
 
Giggs's Avatar
 
Drives: R8
Join Date: Jul 2008
Location: SoCal

Posts: 1,125
iTrader: (5)

Quote:
Originally Posted by chriszeh View Post
How do you also manage the 40K in mods you have? Still not buying it.
Im with you on this one. If I was "trying to stand on my own" for the first time there's no way in hell it would start with an M3. I live by "Be Do Have". This guy obviously is living by "Have Have Have" like a majority of the rest of America. However if he wants to live under that kind of financial strain for the rest of his life thats on him.
Giggs is offline   United_States
0
Reply With Quote
      05-26-2012, 01:53 PM   #110
1MOREMOD
2014 Track Days - 6|Ridge 1:54:61|Pacific 1:35:72
 
1MOREMOD's Avatar
 
Drives: Race car->
Join Date: Mar 2009
Location: check your mirrors

Posts: 11,607
iTrader: (5)

Don't trust that lying sack. He's one of the 200K plus guys. Most of us on this forum have an M3 because we aren't retarded with money.
__________________

02 Tiag e46 M3|6MT|GC plates|MCS c.o.|GC bars|GC race control arms|GC bushings & bearings|BW eng. & tran. mounts|subframe kit|BW race shifter|BW Jaffster|Euro header|BW race|K&N c.a.i.|Epic race tune|Rouge pulleys|Seibon CF hood|CSL bumper|ST-40|XR-2|SS lines|half cage|Recaro profi|Profi 2 harness|BMWpedals|BW studs|
1MOREMOD is offline   United_States
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 01:08 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST