E92 M3 engine life

[gatorfast]

This thread is funny

[RussianPete]

since this thread has been off topic for about a week now i want to introduce a new vehicle ive been looking into...the gt350 mustang, thoughts?

[DSilk]

Originally Posted by ptrubetskoy

since this thread has been off topic for about a week now i want to introduce a new vehicle ive been looking into...the gt350 mustang, thoughts?

The Shelby Mustang? It is a very good performance car for the price. Its plusses include a great DOHC V8 engine, good suspension setup, and good brakes. Its minuses include the fact that it's still too big and too cramped in back for a car that's as big as a midsize sedan. Ford has improved the quality of the interior, although it still doesn't equal the better European cars in that regard. In my opinion it is a much better car than the competing Camaro (a car that I have had a fair amount of driving time in), which remains even bigger and an ergonomic nightmare inside (although it looks good from the outside).

[RussianPete]

Originally Posted by DSilk

The Shelby Mustang? It is a very good performance car for the price. Its plusses include a great DOHC V8 engine, good suspension setup, and good brakes. Its minuses include the fact that it's still too big and too cramped in back for a car that's as big as a midsize sedan. Ford has improved the quality of the interior, although it still doesn't equal the better European cars in that regard. In my opinion it is a much better car than the competing Camaro (a car that I have had a fair amount of driving time in), which remains even bigger and an ergonomic nightmare inside (although it looks good from the outside).

A mustangs interior will never be able to compete with BMW interior of course.

As i dont have kids i dont worry about the space in the back and the weight is actually 3700 pounds same as the M3.

[kb9uwu]

Originally Posted by ptrubetskoy

since this thread has been off topic for about a week now i want to introduce a new vehicle ive been looking into...the gt350 mustang, thoughts?

What are you going to look at next week? Corvette? Viper?

[ResoKP]

I started my own business making more than what the OP makes now, when I was 17 y/o.

I didn't even buy my first car until I was 20 y/o and that was a 9 year old car I bought in cash for $10K. Still have it, still love it.

23 y/o now (turning 24) and recently picked up a 60K km(37K miles) E93 M3. Financed it, although I could've bought it out in cash.

When you're out on your own (financially independent from parents), with nobody else to fall back on but yourself, you learn that "hey, since I saved up $10K, I can spend $10K on a car!" is no longer true.

Maybe the above statement doesn't apply to you now. But respecting your parents, they would know better than to hand down a family business to their kid who hasn't yet matured from that mindset.

When your income jumps to $6K/month, are you going to look for a brand new Aventador now?

When you take full ownership of your family business, are you going to look for an F22 Raptor?

Just because you can buy a car, doesn't neccessarily mean you afford it.

I think, regardless of what your income is, it comes down to your mindset in personal finances that ultimately makes the M3/4 not affordable to you.

A practical tip that works for me is, I would never buy a car I could not pay in cash. Savings always comes first.

"Don't save what is left after spending; spend what is left after saving." - Warren Buffett

When you think about money/managing your finances, you won't need to worry about money.

[k3silk]

Originally Posted by ||||||||||

No offense, but I doubt anyone on here is jealous. Its great for you that you are supposedly taking over a successful business in a few years (congrats, I guess) but no one cares.

LOL Not to be an ass but If your family is so wealthy why not have them pay the car out right and you pay your rich family back? Also not saying that the business will not make it but 3 years is a long time and you have no idea how the market/demand will be so many years out. Now if your going to spend 70-80k I would go for a P-Car 911 turbo or GT3. Good luck by the way 95% on the forum already have M3 and some like me have multiple cars, motorcycles along with houses? So Im not sure how jealous any of us are

[REV1]

Originally Posted by ResoKP

I started my own business making more than what the OP makes now, when I was 17 y/o.

I didn't even buy my first car until I was 20 y/o and that was a 9 year old car I bought in cash for $10K. Still have it, still love it.

23 y/o now (turning 24) and recently picked up a 60K km(37K miles) E93 M3. Financed it, although I could've bought it out in cash.

When you're out on your own (financially independent from parents), with nobody else to fall back on but yourself, you learn that "hey, since I saved up $10K, I can spend $10K on a car!" is no longer true.

Maybe the above statement doesn't apply to you now. But respecting your parents, they would know better than to hand down a family business to their kid who hasn't yet matured from that mindset.

When your income jumps to $6K/month, are you going to look for a brand new Aventador now?

When you take full ownership of your family business, are you going to look for an F22 Raptor?

Just because you can buy a car, doesn't neccessarily mean you afford it.

I think, regardless of what your income is, it comes down to your mindset in personal finances that ultimately makes the M3/4 not affordable to you.

A practical tip that works for me is, I would never buy a car I could not pay in cash. Savings always comes first.

"Don't save what is left after spending; spend what is left after saving." - Warren Buffett

When you think about money/managing your finances, you won't need to worry about money.

Nicely put. I hope you dropped the mic drop after that.

[RussianPete]

Originally Posted by k3silk

LOL Not to be an ass but If your family is so wealthy why not have them pay the car out right and you pay your rich family back? Also not saying that the business will not make it but 3 years is a long time and you have no idea how the market/demand will be so many years out. Now if your going to spend 70-80k I would go for a P-Car 911 turbo or GT3. Good luck by the way 95% on the forum already have M3 and some like me have multiple cars, motorcycles along with houses? So Im not sure how jealous any of us are

I have a car, and im happy with my car, But like everyone here i love performance cars. So my dad doesnt care about my interests to purchase me a new car without working for it.

He will be buying me the car and i will be paying him monthly for it.

[HPCR]

Originally Posted by ptrubetskoy

I have a car, and im happy with my car, But like everyone here i love performance cars. So my dad doesnt care about my interests to purchase me a new car without working for it.

He will be buying me the car and i will be paying him monthly for it.

Now you are talking.!!
So work you way back, I assume you have say oh.. a few dollars in your pocket as you had no expenses for a while and hence a huge accumulation of dollars in your wallet. Perhaps 15-30K. Yes?? That would be enough for a down payment on a REAL car. Then, be a MAN and lease the sucker , ask your Dad to pay say... 1000 bucks a month and you add some change to it . Doing that (assuming you have that down payment of course) will get you a Porsche Turbo convertible of some sort, or a nice Gallardo. A real chick magnet.. why would you want anything less?. Love to see you and the new car in some pictures... with that chick of course.

[ChrisF]

I have a really nice E92 loaded, ZCP, DCT but with sunroof. Selling in a month. CPO for another year. 56K miles; zero issues; regular oil analysis. PM me if you're interesed.

As far as the financial discussion goes, one way or another, you'll learn whether this is a good or bad decision for you. The most valuable lessons you learn come from your own experiences - for better or worse. Taking life advice from an internet car forum isn't always the best

[SunnyD]

Originally Posted by ptrubetskoy

im 21 years old, im not thinking about retirement.

And there's your problem right there.

[redpriest]

OP buying what amounts to now a 30k car at the age of 21 isn't going to seriously impact his retirement in 30 years.

[ResoKP]

Originally Posted by redpriest

OP buying what amounts to now a 30k car at the age of 21 isn't going to seriously impact his retirement in 30 years.

It depends on how much he is able to save (if he can still save $2,000+/month after the car purchase, sure, it's not going to matter much).

Let's say he buys a car today and unable to save any money for the next 5 years until the car is paid off. This puts him at 25 years of investment horizon if he wants to retire in 30 years.

Let's fix the savings rate at $1,000/month for the sake of this example.

• $1,000/month @ 7% for 25 years: $812,117.64

Starts investing today instead of buying the car

• $1,000/month @ 7% for 30 years: $1,212,876.50

That's a difference of $400,758.86

A $60,000 car purchase ended up costing him $400,000

If we compare 40 years vs 35 years (more realistic given OP's age): $2,563,314.84 - $1,774,961.52 = $788,353.32

Now, in OP's specific case, if he has a trust fund set up by his parents in the 7 digits and is going to have access to it when he turns 25 or something, if it were me, I'd wait until 25 and buy a house + Lambo and bow down to my parents for granting me a huge head start in life

Personally, I'd be saddened if I was only saving $1,000 per month, but that's just me and yes, my retirement goals are very aggressive even for my age.

To each their own lifestyle though

[HPCR]

Originally Posted by ResoKP

It depends on how much he is able to save (if he can still save $2,000+/month after the car purchase, sure, it's not going to matter much).

Let's say he buys a car today and unable to save any money for the next 5 years until the car is paid off. This puts him at 25 years of investment horizon if he wants to retire in 30 years.

Let's fix the savings rate at $1,000/month for the sake of this example.

• $1,000/month @ 7% for 25 years: $812,117.64

Starts investing today instead of buying the car

• $1,000/month @ 7% for 30 years: $1,212,876.50

That's a difference of $400,758.86

A $60,000 car purchase ended up costing him $400,000

If we compare 40 years vs 35 years (more realistic given OP's age): $2,563,314.84 - $1,774,961.52 = $788,353.32

Now, in OP's specific case, if he has a trust fund set up by his parents in the 7 digits and is going to have access to it when he turns 25 or something, if it were me, I'd wait until 25 and buy a house + Lambo and bow down to my parents for granting me a huge head start in life

Personally, I'd be saddened if I was only saving $1,000 per month, but that's just me and yes, my retirement goals are very aggressive even for my age.

To each their own lifestyle though

All good stuff. Just a quick word of caution.... "saving money" seems to be no longer a good strategy ... INVESTING money is the way to go. And that is getting more and more risky... taxation is draining your profits soo investing long term really needs professional advice and NO, I am not one " of those" ..

[ResoKP]

Originally Posted by HPCR

All good stuff. Just a quick word of caution.... "saving money" seems to be no longer a good strategy ... INVESTING money is the way to go. And that is getting more and more risky... taxation is draining your profits soo investing long term really needs professional advice and NO, I am not one " of those" ..

Right right! Haha my bad. I'm so used to using the term "saving" almost exclusively to mean "investing". Replace all the word "saving" to "investing" in my previous post and that's what I actually meant to say

[redpriest]

Originally Posted by ResoKP

It depends on how much he is able to save (if he can still save $2,000+/month after the car purchase, sure, it's not going to matter much).

I agree with your post in its entirety, but at the end of the day you have to draw a line somewhere. If you buy a new car, even an inexpensive one, $18k, you are going to have to sacrifice what you are sinking into that away from your retirement plan - which, of course, assuming the standard 7% interest gain from wise investments per year, will still amount to a ton of money over a 40 year window.

If you take that thinking to its extreme conclusion, there is no rationale for buying anything than a used, reliable Japanese $2000 car.

[jitenmazee]

Life's too short to worry about water under the bridge anyway.

[Sorai]

Originally Posted by ptrubetskoy

I have a car, and im happy with my car, But like everyone here i love performance cars. So my dad doesnt care about my interests to purchase me a new car without working for it.

He will be buying me the car and i will be paying him monthly for it.

Hi, I was browsing the forums and read through this thread, and this post led me to make an account just to give my 2 cents, so here it is.

I'm in the same situation as the OP, although not quite. I'm also 20 years old and planning on purchasing my dream car next summer, a 2011 or newer E92 M3 in AW with the comp package. Now, my parents too own a successful business, and I work for them, so all of my expenses are covered.

I just wanted to point out a few KEY things that these other posters seem to have forgotten.

1.) This is an enthusiast forum. We love cars. We dream about them. Our cars are an extension of us. If this guy has the means to purchase something that he considers his dream, THEN WHY NOT?! Who are you to decline him that? Fuck financial failures. Let him do him.

2.) Why is everyone here so pent up over the future? We could all die in a second. This poster can die tomorrow. If he has the means to purchase his dream car now before he's gone, it'll have made his life that much sweeter. I feel like everyone here is forgetting this key point.

I might be forgetting something else, but that's it. To all you older posters, our generation is different. We care more about our cars than a house. It might not make sense to you but that's what we grew into, so try to understand that. I know damn well I'm going to buy my dream car before I worry about providing a roof over my head. I'm fortunate enough to make a statement like that, I know, so don't comment on that, thanks. I know the situation isn't the same for every person.

Anyways, @OP, dude, go for it. You'll love it. Trust me, you're better off getting it now instead of waiting and maybe never having another chance to.

[kb9uwu]

This keeps getting better...

[SunnyD]

Originally Posted by Sorai

Hi, I was browsing the forums and read through this thread, and this post led me to make an account just to give my 2 cents, so here it is.

I'm in the same situation as the OP, although not quite. I'm also 20 years old and planning on purchasing my dream car next summer, a 2011 or newer E92 M3 in AW with the comp package. Now, my parents too own a successful business, and I work for them, so all of my expenses are covered.

I just wanted to point out a few KEY things that these other posters seem to have forgotten.

1.) This is an enthusiast forum. We love cars. We dream about them. Our cars are an extension of us. If this guy has the means to purchase something that he considers his dream, THEN WHY NOT?! Who are you to decline him that? Fuck financial failures. Let him do him.

2.) Why is everyone here so pent up over the future? We could all die in a second. This poster can die tomorrow. If he has the means to purchase his dream car now before he's gone, it'll have made his life that much sweeter. I feel like everyone here is forgetting this key point.

I might be forgetting something else, but that's it. To all you older posters, our generation is different. We care more about our cars than a house. It might not make sense to you but that's what we grew into, so try to understand that. I know damn well I'm going to buy my dream car before I worry about providing a roof over my head. I'm fortunate enough to make a statement like that, I know, so don't comment on that, thanks. I know the situation isn't the same for every person.

Anyways, @OP, dude, go for it. You'll love it. Trust me, you're better off getting it now instead of waiting and maybe never having another chance to.

In other words...YOLO!!!!!!!

[ResoKP]

Originally Posted by redpriest

I agree with your post in its entirety, but at the end of the day you have to draw a line somewhere. If you buy a new car, even an inexpensive one, $18k, you are going to have to sacrifice what you are sinking into that away from your retirement plan - which, of course, assuming the standard 7% interest gain from wise investments per year, will still amount to a ton of money over a 40 year window.

If you take that thinking to its extreme conclusion, there is no rationale for buying anything than a used, reliable Japanese $2000 car.

Well, if you have $100K invested, the 7% from that generates more compounding since there's more $ working for you vs $10K invested.

Earlier years of contributions are more potent, since investments grow exponentially..

Just thought I'd share the advantages of building your investment portfolio to "some" degree before taking the plunge on big purchases..

But you're right, in the end, everyone draws their lines in different places and we all gotta spend our hard earned money to "buy" our happiness with time/patience being a larger factor to some