Thread: Purchasing?
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      01-13-2013, 10:14 PM   #9
chris s
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Drives: 2016 SMB F80 M3
Join Date: Oct 2008
Location: New York

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Originally Posted by NHman View Post
OP, like Chris S, I'll take the high-road as well. At 16 years of age, even if you are making "good" money, the issue will be length of credit history especially with an installment loan against (roughly) a $70k vehicle. Even if you went with traditional financing with a significant down-payment, it would be difficult. You would need a co-signer with the credit rating and DTI to offset your "newness" to the credit world.

I don't know what your financial status is and frankly it's none of my business. However you may want to next steps by starting with a used M3. Perhaps the E46 model which was the last generation. It's still a very good car. Establish a credit history and move forward. Otherwise I will not preach about the priorities in life whether investments, education, etc over a new M3.....that's for people around you to provide counsel.

good advice....
2016 Individual F80 M3 - San Marino Blue|Full Amaro | Built by IMG Motorsport and Prime Performance | Mode Carbon | ESS | Akrapovic EVO | KW HAS | M Performance...
2012 MR e92 M3 DCT, fully loaded... GONE but not forgotten!
2008 e92 M3 Coupe 6MT | AW/BLK Extended...SOLD!