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09-07-2015, 04:51 PM | #45 | |
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09-07-2015, 06:24 PM | #46 | |
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09-07-2015, 06:26 PM | #47 | |
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09-07-2015, 06:27 PM | #48 | |
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i want to get into a sports car so bad. i think about it night and day
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09-07-2015, 07:27 PM | #50 |
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why are you guys hating on me so much i work 50 hours a week running a family business . ive waited months saving for my dream car, isnt that what people do regardless of age. work...make money...save it and then spend it on something they like. the fact that im 21 should not come into part its the amount of effort i put into my work and time.
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09-07-2015, 07:35 PM | #51 |
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you're not going to like hearing this, but you can't afford this car. don't do it.
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09-07-2015, 07:37 PM | #52 |
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3000-850 is 2150 left over a month. i can afford this car. i have 0 expenses
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09-07-2015, 07:45 PM | #53 | |
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how much money do you have set aside for retirement? other investments? no plans to own property? how much liquid cash do you have in savings? what are your financial goals in 5 years? 10 years? 20 years? if you don't know, or don't have any substantial response for the above, you can't afford this car. you'll set yourself back so far financially, that you'll be playing catch up for most of the rest of your life. dinner before desert. set yourself up financially, then have your fun. i was 21 once, and i wish i would have made wiser decisions.
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09-07-2015, 07:52 PM | #54 | |
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if you dont belive there are plenty of sites on the internet who well tell you how much Netfrate LLC 1390 s dixie hwy coral gables fl makes. be my guest and do you research
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09-07-2015, 07:52 PM | #55 | |
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I'll reiterate. Being able to afford a payment and being able to afford something are entirely different. I can afford to pay $1000 a month for the next fifty years on a private jet. |
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09-07-2015, 07:59 PM | #56 |
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this is all that matters.
i don't care if your family business is making $20,000,000 yearly. if it went belly up, what would you do? what would you have to fall back on? what would you have to retire on? what you make yearly doesn't matter if you squander it away on things that don't matter like cars.
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09-07-2015, 08:00 PM | #57 | |
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09-07-2015, 08:03 PM | #58 | |
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at what age did you buy your first M and how financially stabile were you. im a fanatic ive been itching to get into one of these cars for a year and a half and ive done alot of work in the past year and a half to put myself into this car.
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09-07-2015, 08:10 PM | #59 |
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i bought my first M (e92) when i was 26. i'm 28 now. i have four retirement plans/strategies. my M is completely paid for by people who live in investment properties i own.
i don't make a lot of money, but i invested it well and make it go to work for me. want to know what is cooler than driving an M car? driving an M car that someone else is paying for.
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09-07-2015, 08:12 PM | #60 | |
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09-07-2015, 08:25 PM | #61 |
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thanks, but its not about me. if you want to do this, then go ahead, i'm just saying it is a bad idea.
pay for all of your expenses like your cellphone, car payment (including interest), insurance, gas, etc. if you still want to do it after that, then go ahead. at 21, you're an adult, but you aren't making mature adult financial decisions. you're right, i don't know you- i just know the basics. you're not on a good path of learning financial independence- you're taking the crash course.
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09-09-2015, 02:01 PM | #62 |
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Those of us who are older and wiser (by virtue of having been 21 and having lived through all that you are currently experiencing) are advising you that if you can really afford to purchase an M3 go ahead and purchase one. However, keep several things in mind. You aren't really paying for your M3 right now because your housing and grocery expenses are completely subsidized by your parents, and (according to you) the interest payments on the M3 purchase will also be paid for by your parents. There will come a time (relatively soon) when you will want your own place (because face it, no matter how cool the car you are driving might be, nothing screams "baby boy" to a young woman louder than a young man who still lives with his parents), and you will be stuck with an initial payment of 3 times the monthly rent to secure an apartment, along with monthly rent, utilities, insurance, and groceries, all of which cost more than you might think. And while it is nice to have a family business to fall back on, the percentages there aren't very good. The majority of family-run small businesses that are taken over by the second generation fail within a few years, so you need to be prepared.
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09-10-2015, 10:34 AM | #63 |
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09-10-2015, 10:36 AM | #64 |
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Ive had two M3's since 2011 and Ive never had an issue with any of the cars, at least not engine or electrical related. I guess it all depends on how hard you drive your car every day and how often you get your maintenances done
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09-10-2015, 11:00 AM | #65 |
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OP,
Smart people learn from their own mistakes and The smartest people learn from others mistakes. When you have a group of people all saying the same thing 99% of the time There is something there. Be one of the smartest people and listen to what these folks are trying to tell you. What I've learned is that you NEVER know what's going to happen next. Just be ready for anything. Financially that means keep you bills low and options open.
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09-10-2015, 12:30 PM | #66 |
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OP, I do think some of the people in this thread are being a bit harsh and maybe a little judgemental, however, if you're settled on the M3 and you think you can afford it, why are you asking?
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