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01-23-2013, 01:29 PM | #23 | |
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With interest rates at their historical lows, it's a no brainer not to own your dream car right now. This is all being said with my assumption (haven't read other posts therefore not sure if you provided more detail) that you will be able still to save somewhat for the retirement, wouldn't worry about maxing it and all that at the moment just enjoy your car, you are 20 years old plenty of time for that as far as your living situation goes, you live in CA and I want even speculate on that I am assuming you are renting... |
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01-23-2013, 01:30 PM | #24 | |
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Gas is a v8 I can surely do that. I just need to look into insurance |
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01-23-2013, 01:31 PM | #25 |
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Does Jiffy Lube have access to the special Castrol oil that the M3 uses?
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01-23-2013, 01:34 PM | #26 |
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Focus on work for a while longer and save your money. Buy a house and then buy a M3. This is what I did anyway. I also have a room mate to help with the mortgage.
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01-23-2013, 01:38 PM | #27 | |
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01-23-2013, 01:40 PM | #28 | |
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01-23-2013, 01:42 PM | #29 |
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01-23-2013, 01:47 PM | #31 |
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A car is the worst investment you'll ever make. Two things you'll get for sure a bill every month and a heap of metal worth half of what you payed for it.
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01-23-2013, 01:56 PM | #32 |
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I think it would be a bad idea to go with an 08 M3 when you could find a low-ish miles E46 M3 and enjoy the hell out of it for a lot less money. Maybe it's weird but when I see an E46 M I really do lust after it for it's size and honestly more sporty looks IMO.
Finish school, get promoted, buy a house, then find a 2012-13 M3. |
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01-23-2013, 01:57 PM | #33 |
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01-23-2013, 01:58 PM | #34 |
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I say go for it. Insurance won't be a problem if you have a clean record. I'm 19 and pay $1,100 a year for full coverage.
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01-23-2013, 02:06 PM | #35 |
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If you have no other liabilities (kids, mortgage..etc..etc), I say why not? It's just you can do so much more with that 10k rather than putting down on a depreciating item. Why not lease a 2013? Do you have another DD car?
Well..hurry up, and we'll see you at this year's MFEST...you are going to be one of the youngest folks there with an E92. |
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01-23-2013, 02:07 PM | #36 |
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Probably a 20 year old without a college education who is working at Jiffy Lube should not be buying a $35k used car, but that is my conservative old school perspective. The liberal new school perspective is that you only live once, so enjoy life now and don't worry about borrowing a lot of money or saving for the future. The reality is that at your age, assuming you have no responsibilities to other people, there is probably little harm in trying to afford the M3.
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01-23-2013, 02:09 PM | #37 |
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wait 3 years and get a 2012-3...when the new one will be out. u'll get it for cheap and u can save till then
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01-23-2013, 02:16 PM | #38 |
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01-23-2013, 02:22 PM | #39 |
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you need to consider a lot of stuff when buy a car, as everyone said its not just the down payment and the monthly payments. its a car things do go wrong and the M tax is pretty expensive so if something was to go wrong ur done. you will also need more than ur 550 every month, insurance will be expensive and you will be spending around 1000 just to have the car. wait a few years and save up your money.
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01-23-2013, 02:24 PM | #40 | |
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2000-2010 Honda S2000 2001-2006 BMW E46 M3 2006-2008 BMW E86 M Coupe or Roadster 2003-2005 Nissan 350Z I would even go so far as to even look at the cheaper 1991-2001 Acura NSX. I have owned every one of these cars at one point and working at Jiffy Lube these are right in your price range. Some of these may be too expensive. Also nobody considers on top of the 2008 M3 price, insurance, monthly payment, you will need another $10,000 to get it to where you want it. Thats just me. Be reasonable and realistic. A 2008-2013 is not realistic.
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01-23-2013, 02:24 PM | #41 | |
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01-23-2013, 02:25 PM | #42 |
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01-23-2013, 02:26 PM | #43 | ||||
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First of all, I love this thread.
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01-23-2013, 02:30 PM | #44 |
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