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      07-29-2016, 09:38 PM   #1
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Why I buy CHEAP BMW's!!!

This video is in response to a comment I received on what he thought was the reason why I buy used cheap BMW's. Well....he was only partially correct

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      07-29-2016, 10:45 PM   #2
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Kidding aside... I'm cheap too. Bought mine used as well but saying you make 6 figs is irrelevant. I honestly think It's more of a personal choice really. I also make 6 figs and I totally agree with you in being smart with your money. I was dumb with money when I was younger and as I age and start to own properties, that's where reality start to kick in.

Bottom line is people like fancy things and they will use their money as they wish. It's what they make themselves happy. I don't think they're stupid, it's their choice. Ultimate first world problems.
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      07-30-2016, 01:53 AM   #3
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Originally Posted by E46M3forRay View Post
1rd

Kidding aside... I'm cheap too. Bought mine used as well but saying you make 6 figs is irrelevant. I honestly think It's more of a personal choice really. I also make 6 figs and I totally agree with you in being smart with your money. I was dumb with money when I was younger and as I age and start to own properties, that's where reality start to kick in.

Bottom line is people like fancy things and they will use their money as they wish. It's what they make themselves happy. I don't think they're stupid, it's their choice. Ultimate first world problems.

Good to know I'm not the only one. I think most people fit into our category. You're right the money means nothing. But for some odd reason I felt compelled to at least mention it so people can understand that people aren't making $20,000 affording M3's. I think it's crazy people say childish comments without knowing anything about the person. That's why I mentioned nobody is stupid for buying a new car, it's just not the smartest thing to do.
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      07-31-2016, 09:03 AM   #4
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An M3 is an enthusiasts car, especially in the used market! If one does their due diligence and fully understands the real cost of one of these, have at it!! To me, driving is my passion and that's all the consideration I need. lol

Just be smart about it.
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      07-31-2016, 10:50 AM   #5
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I like to buy used as well. Example...I purchased a 2012 v6 mustang (6 speed) for my son earlier this year. 19,000 miles and was a trade in at the original dealership that sold it new back in 2013 (still a cream puff). New price = $30k. My price used $13,750. That means the depreciation was over $.85 a mile! We threw some new car air freshener in and called it a winner.

Two weeks ago I picked up a new Jeep Grand Cherokee for my wife. Why? Because a happy wife is a happy life, and you just can't put a price on happiness (unless you buy cars and then its about $40k - lol)!
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      07-31-2016, 01:07 PM   #6
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I have some people in my family who are extremely well off financially. None of them buy new except for one person. Unless it's an appreciating new car, there's no sense in pissing away tens of thousands when buying new when a 2-3 year old used version will be 99% as nice as the new one for 30% less the cost...

Then again, to each their own.
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      07-31-2016, 03:05 PM   #7
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Quote:
Originally Posted by the6M3
I have some people in my family who are extremely well off financially. None of them buy new except for one person. Unless it's an appreciating new car, there's no sense in pissing away tens of thousands when buying new when a 2-3 year old used version will be 99% as nice as the new one for 30% less the cost...

Then again, to each their own.
Sure there is. You can order the exact car you want. You get a full Warrenty. You get a car that no one has used or neglected. You can often get a new car's price down to the point that's it's close to a used version. You have a car with zero miles.

Course, all that is contingent upon the person keeping the car for many years and miles.
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      08-01-2016, 10:41 AM   #8
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My wife and I stopped buying new cars many years ago. Since then we have purchased steeply discounted demonstrators, loaners, and certified pre-owned cars. Why? Because to do otherwise is flushing money down the toilet, and as much as I love cars it isn't my only passion.
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      08-01-2016, 10:46 AM   #9
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I always thought that Hondas and Toyotas in the 20k range are best bought new because there isn't much price depreciation after 3-4 years even with a ton of miles. And those are usually for the lady to drive so happy wife. But something like a M3 or a 911. One can save nearly half the price of the car buying it 4-5 years old. I know I did on my M3. 70k new, just 39k 4.5 years and 27k miles later one owner who changed oil and brake fluid every year. He even did the spark plugs at 18k miles. The problem is having to wait haha
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      08-02-2016, 12:46 PM   #10
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Agree with a lot of what you're saying...but those red sunglasses need to go stat! haha
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      08-03-2016, 11:45 PM   #11
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Quote:
Originally Posted by Stunnerable View Post
An M3 is an enthusiasts car, especially in the used market! If one does their due diligence and fully understands the real cost of one of these, have at it!! To me, driving is my passion and that's all the consideration I need. lol

Just be smart about it.
Right about that!!! I even said it a few times!
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      08-03-2016, 11:46 PM   #12
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Originally Posted by buzz367 View Post
Agree with a lot of what you're saying...but those red sunglasses need to go stat! haha
I was feeling red that day!!! HAHA! My new video I have on white! HAHA!
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      08-03-2016, 11:48 PM   #13
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Originally Posted by drummer20 View Post
I always thought that Hondas and Toyotas in the 20k range are best bought new because there isn't much price depreciation after 3-4 years even with a ton of miles. And those are usually for the lady to drive so happy wife. But something like a M3 or a 911. One can save nearly half the price of the car buying it 4-5 years old. I know I did on my M3. 70k new, just 39k 4.5 years and 27k miles later one owner who changed oil and brake fluid every year. He even did the spark plugs at 18k miles. The problem is having to wait haha
With the depreciation of the ///M cars it really is better to wait. There's many low mileage M3's out there going for good prices. Let the people with deep pockets buy it first. I have no problem buying second or third for that matter.
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      08-03-2016, 11:49 PM   #14
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Originally Posted by DSilk View Post
My wife and I stopped buying new cars many years ago. Since then we have purchased steeply discounted demonstrators, loaners, and certified pre-owned cars. Why? Because to do otherwise is flushing money down the toilet, and as much as I love cars it isn't my only passion.
The older I get the more my money goes to other things like house remodeling and vacations with my wife. In my younger years it was all going to cars. Loved it! But today it's more of a waste of money. I'd rather fly overseas and spend a week on a foreign country
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      08-03-2016, 11:54 PM   #15
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Originally Posted by SoManyBlueCars View Post
Sure there is. You can order the exact car you want. You get a full Warrenty. You get a car that no one has used or neglected. You can often get a new car's price down to the point that's it's close to a used version. You have a car with zero miles.

Course, all that is contingent upon the person keeping the car for many years and miles.
I would have to almost disagree as I almost pulled the plug on a new M2. Price was exactly what all the magazines said it would. I was gonna take Euro delivery of it and that would have saved $3500, but that would be the cost of the trip to Germany. The dealership priced it out...$51,000. That's with it fully loaded. Still not a bad price and the M2 might increase in price but for a M3/M4....no freaking way! $82k nicely equiped for it to drop $15,000 the first year then another $10,000 the next...I'll pass and look for a nicely used 2-3 year old car with a warranty and color and interior options I can live with. Unless you just have money to throw away. But I buy mine all out of warranty anyways.
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      08-03-2016, 11:55 PM   #16
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Quote:
Originally Posted by the6M3 View Post
I have some people in my family who are extremely well off financially. None of them buy new except for one person. Unless it's an appreciating new car, there's no sense in pissing away tens of thousands when buying new when a 2-3 year old used version will be 99% as nice as the new one for 30% less the cost...

Then again, to each their own.
I 100% agree! Take that money you saved on the car and do something you will remember for a lifetime.
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      08-03-2016, 11:56 PM   #17
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Originally Posted by chief View Post
I like to buy used as well. Example...I purchased a 2012 v6 mustang (6 speed) for my son earlier this year. 19,000 miles and was a trade in at the original dealership that sold it new back in 2013 (still a cream puff). New price = $30k. My price used $13,750. That means the depreciation was over $.85 a mile! We threw some new car air freshener in and called it a winner.

Two weeks ago I picked up a new Jeep Grand Cherokee for my wife. Why? Because a happy wife is a happy life, and you just can't put a price on happiness (unless you buy cars and then its about $40k - lol)!
I use that same saying...Happy wife Happy life! Can't be farther from the truth. She wants a Z4 so we are searching and waiting for the correct model to come through at a good price.
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      08-05-2016, 11:27 AM   #18
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There are cars for people and people for cars. One of my clients have a RR collection edition that he payed over $700K and on the other side of the garage he has a Bentley whatever that he payed $400K. Well.... that's another world. This guy does not have any credit. Happy wife (deep pocket), nice house, travels 3 -4 times a year....what else? Guy is seriously ill!!!! Believe it or not. Nice guy by the way.

Step a notch down....there are guys our there that can afford a brand new M3-4 and it won't take away anything from them. They will still travel, happy wife, good living.

Step a notch down....I'm with this guy. Could I afford a lease payment of 1,500? No problem. Will I do it? No. I won't be traveling, no cash to buy small toys, no restaurants, paying rent, no money to buy stocks...bottom line, a big NO. Let the big guys (deeper pockets) buy the new cars. I will still be happy with a 3-4 year old car, specially a BMW with 25K miles. Sport cars depreciate 50% in the first 3 years. That is the residual value on a lease of a sport car. 50%!!!! Wow. So let's go a buy a $80K car. 3 years went buy now the car is worth $40!!!!. You just lost $40K plus around $10k in taxes and fees.

My friend has a deeper pocket than me. That's ok. I think he works too much. Wife has had several "adventures", kids are a fucking mess but the guy thinks that having money is more important. It's true. He lives in a very nice house, housekeeper, nice restaurants, nice private golf club, very nice clothes, but does he travel? Not that much. Happy family? I don't think so. He is a nice guy and the best is that he buys NEW sport car. So when I like one I will just tell him to save it for me.

Good for the guys that make a bunch of money and are happy. I do not make that much but still I'm with is a happy wife!!!!!
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      08-05-2016, 10:15 PM   #19
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"Good for the guys that make a bunch of money and are happy."

Great points all around. I agree with 98% with the "buy used" mantra with two exceptions:

1) I think that every man, who believes himself to be an enthusiast, and works his ass off his for the majority of his life, deserves ONE brand-new, built to spec, sports car during his life. Just one.

2) I always buy used for myself and lease something for the wife every 3-4 years. This keeps her happy and most importantly, quiet.
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      08-06-2016, 12:18 AM   #20
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Quote:
Originally Posted by E46M3forRay View Post
1rd
Kidding aside... I'm cheap too. Bought mine used as well but saying you make 6 figs is irrelevant. I honestly think It's more of a personal choice really. I also make 6 figs and I totally agree with you in being smart with your money. I was dumb with money when I was younger and as I age and start to own properties, that's where reality start to kick in.

Bottom line is people like fancy things and they will use their money as they wish. It's what they make themselves happy. I don't think they're stupid, it's their choice. Ultimate first world problems.
I think most people here make six figures, some deep six figures. If you don't, you should consider the economic opportunity loss of spending such a significant portion of your wealth on a depreciating toy.

When buying a performance car, or other vehicles subject to abuse, I buy new. It's cheap insurance.
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      08-06-2016, 05:21 PM   #21
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Originally Posted by M3Bimmer77 View Post
There are cars for people and people for cars. One of my clients have a RR collection edition that he payed over $700K and on the other side of the garage he has a Bentley whatever that he payed $400K. Well.... that's another world. This guy does not have any credit. Happy wife (deep pocket), nice house, travels 3 -4 times a year....what else? Guy is seriously ill!!!! Believe it or not. Nice guy by the way.

Step a notch down....there are guys our there that can afford a brand new M3-4 and it won't take away anything from them. They will still travel, happy wife, good living.

Step a notch down....I'm with this guy. Could I afford a lease payment of 1,500? No problem. Will I do it? No. I won't be traveling, no cash to buy small toys, no restaurants, paying rent, no money to buy stocks...bottom line, a big NO. Let the big guys (deeper pockets) buy the new cars. I will still be happy with a 3-4 year old car, specially a BMW with 25K miles. Sport cars depreciate 50% in the first 3 years. That is the residual value on a lease of a sport car. 50%!!!! Wow. So let's go a buy a $80K car. 3 years went buy now the car is worth $40!!!!. You just lost $40K plus around $10k in taxes and fees.

My friend has a deeper pocket than me. That's ok. I think he works too much. Wife has had several "adventures", kids are a fucking mess but the guy thinks that having money is more important. It's true. He lives in a very nice house, housekeeper, nice restaurants, nice private golf club, very nice clothes, but does he travel? Not that much. Happy family? I don't think so. He is a nice guy and the best is that he buys NEW sport car. So when I like one I will just tell him to save it for me.

Good for the guys that make a bunch of money and are happy. I do not make that much but still I'm with is a happy wife!!!!!
Man you broke it down real nice! I would be in your area too. I would still be able to afford to go on vacation maybe twice a year and still have my hobbies but I'd have to save and have no money for anything else. I'm like "let the guys with deep pockets buy them first" too. I make videos for the average guy. The wealthy guys probably arent even watching YouTube. Too busy making money while their wives are with other guys and kids going crazy. You really do have to have a happy medium to life. Money isn't everything but you can't manage without it and everyone wants more of it. I'm very content with my pay. I'm up for a promotion and I take them when they come along. But at the end up the day, I love my wife and I think of where can I visit next. Cars are my passion too but so is my family life. Great reply!!!! Enjoyed reading!
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      08-06-2016, 05:27 PM   #22
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Quote:
Originally Posted by BGBF18 View Post
"Good for the guys that make a bunch of money and are happy."

Great points all around. I agree with 98% with the "buy used" mantra with two exceptions:

1) I think that every man, who believes himself to be an enthusiast, and works his ass off his for the majority of his life, deserves ONE brand-new, built to spec, sports car during his life. Just one.

2) I always buy used for myself and lease something for the wife every 3-4 years. This keeps her happy and most importantly, quiet.
Ok.....so let me clarify about #1....YOU ARE 100% correct! And that's why this year I thought about buying a new M2. Things I considered....I could trade my M3 in and reduce the cost by $15k. I could get a vacation out of it by doing a Euro delivery, and I have never owned a new car in my life and I do owe it to myself to do it just once in my life, and the M2 could go up in price instead of tanking like every other BMW. When it came down to actually going to the dealership I had to stop myself and think, do I want another 5 years of $600 a month of payments when I was so close to paying my M3 off? I actually go to pay it off on Monday!!! And paying it off about 9 months early. So I've been quite a responsible little boy and yes I do feel like I own myself a new car just once in life. I can't agree with you more!!!

#2....don't know if I could lease. I just feel like it's throwing money away. But I know people that do lease, so regretted it some enjoy it. Just not my cup of tea.
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