Can I afford to buy an F80 M3?

nyalpine90 · 06-20-2019, 09:17 AM

Did you buy the M3 and got kicked out?

F30lolz · 06-20-2019, 10:25 AM

Quote:

Originally Posted by nyalpine90

Did you buy the M3 and got kicked out?

Yeah OP. Spill the beans as you have been hiding under a s55 crank hub.

Run Silent · 06-20-2019, 11:44 AM

I didn't even bother reading the last seven pages. I stopped when I saw $42,000 car and $65,000 income and still making a mortgage payment, of which half is being paid for by someone he isn't even married to.

Are. you. insane?

No.

No.

No. Do not buy a depreciating asset that costs nearly 3/4ths of your annual income. This is a terrible financial decision and one that will lead you down a poor path in the future because you will have now set an unattainable baseline.

Think you are gonna drive an M3 around for a couple of years and then go back to a 230i? No way. It will become your new normal. Keep buying cars that you cannot afford over the course of your life and you will end up broke and miserable.

Just no.

upstatedoc · 06-20-2019, 12:02 PM

don't candy coat it R S, tell us how you really feel.

Joekerr · 06-20-2019, 12:24 PM

Quote:

Originally Posted by Run Silent

I didn't even bother reading the last seven pages. I stopped when I saw $42,000 car and $65,000 income and still making a mortgage payment, of which half is being paid for by someone he isn't even married to.

Are. you. insane?

No.

No.

No. Do not buy a depreciating asset that costs nearly 3/4ths of your annual income. This is a terrible financial decision and one that will lead you down a poor path in the future because you will have now set an unattainable baseline.

Think you are gonna drive an M3 around for a couple of years and then go back to a 230i? No way. It will become your new normal. Keep buying cars that you cannot afford over the course of your life and you will end up broke and miserable.

Just no.

To the original poster:

The above is coming from a guy who has a Ferrari on an accountant's salary. Clearly he just doesn't want you to enjoy life like he does, and that's why he's trying to steer you away and keep you miserable.

Don't listen - just do it.

- Nike.

Run Silent · 06-20-2019, 12:57 PM

Quote:

Originally Posted by Joekerr

To the original poster:

The above is coming from a guy who has a Ferrari on an accountant's salary. Clearly he just doesn't want you to enjoy life like he does, and that's why he's trying to steer you away and keep you miserable.

Don't listen - just do it.

- Nike.

LOL!!

For what it is worth, the amount paid for the Ferrari equated to a bit over 3 months household income and we have no debts, the home is paid for, and we hold a sizable retirement savings. The purchase price of the Ferrari was 6% of our net worth and was paid for with cash out of our checking account.

Slight difference, there.....

So, if he followed the same path as me, adjusted for his current income:

- He would have his home paid for
- He would have $32,000 in his checking account (6mos salary)
- He would have $270,000 in retirement (4x his salary)

Then he could spend $16,200 on a car, cash.

mikesx4911 · 06-20-2019, 01:00 PM

I was in the same position as you a month ago. I have a F30 that I love. Drove a M3 fell in love again haha. Got all the paperwork ready checked my insurance... And than I saw this damn posts on social media. Buy a car for 45k or invest 45k and let it pay for the car

I thought about this for like 2 weeks. Of all the opportunities I missed buying things that didn't hold value. It's a personal choice of you buying it. I would say it def. sounds like you can afford it. But do you and the gf have any goals that might need a decent amount of change in the future?

G35POPPEDMYCHERRY · 06-20-2019, 01:09 PM

Quote:

Originally Posted by Joekerr

To the original poster:

The above is coming from a guy who has a Ferrari on an accountant's salary. Clearly he just doesn't want you to enjoy life like he does, and that's why he's trying to steer you away and keep you miserable.

Don't listen - just do it.

- Nike.

he drives a 02 360 tho. not like hes in a 458 speciale.

no shade RS; just saying tho.

Run Silent · 06-20-2019, 01:25 PM

Quote:

Originally Posted by G35POPPEDMYCHERRY

he drives a 02 360 tho. not like hes in a 458 speciale.

no shade RS; just saying tho.

Damn.

Joekerr · 06-20-2019, 03:11 PM

Quote:

Originally Posted by G35POPPEDMYCHERRY

he drives a 02 360 tho. not like hes in a 458 speciale.

no shade RS; just saying tho.

Yeah...I know. Been here a while you know. You just had to add a dose of reality to the fun I was trying to have with the OP...he didn't need to know what type of Ferrari. Heck, Dinoz has a Ferrari too but you and I both probably remember which one. It is so much more fun to just say "Ferrari" and leave out the model to let minds wander.

Oh, and Run Silent - $320K / $1.33M?

Run Silent · 06-20-2019, 03:23 PM

Quote:

Originally Posted by Joekerr

Oh, and Run Silent - $320K / $1.33M?

I must be tired..... I need some help understanding this one.

upstatedoc · 06-20-2019, 03:30 PM

accountants

Run Silent · 06-20-2019, 03:34 PM

Quote:

Originally Posted by upstatedoc

accountants

Physicians.

Savageenterprise · 06-20-2019, 03:43 PM

Quote:

Originally Posted by upstatedoc

accountants

Quote:

Originally Posted by Run Silent

Physicians.

UpstateDoc is a Corrections Officer

zx10guy · 06-20-2019, 04:03 PM

Quote:

Originally Posted by Savageenterprise

UpstateDoc is a Corrections Officer

So his screen name should really be UpstateDOC.....

Run Silent · 06-20-2019, 04:05 PM

Quote:

Originally Posted by zx10guy

So his screen name should really be UpstateDOC.....

PoorLurker · 06-24-2019, 12:05 PM

Quote:

Originally Posted by Run Silent

I must be tired..... I need some help understanding this one.

A guess at your income and net worth

Run Silent · 06-24-2019, 01:35 PM

Quote:

Originally Posted by PoorLurker

A guess at your income and net worth

Yeah, I eventually sorted that out. I was reading the "/" as a divide by symbol.

He's a bit high on both numbers.

s0211 · 06-24-2019, 02:51 PM

If it has always been your dream to own one, do it now before you have other responsibilities to worry about, like wedding, kids, bigger house... etc.

PoorLurker · 06-24-2019, 04:47 PM

Where did OP even go?

Plot twist: The $10k he is putting down means the car only cost $32k, hahah

greasypeanut · 06-24-2019, 05:45 PM

I would do it. One thing you didn't mention is your future wife's salary. At least in my marriage, her money is my money and vice versa. You seem to be a millennial like me and as long as you and your future wife will still going to be able to put money in savings, and also be able to go several months without that dual income when the babies come, get the car. Being "young" you will still have time to recover financially.

You're not buying a new M3 so the depreciation won't be horrible like my new OG M2, and also you won't have to worry about buying a bigger car, i.e. M3 because the baby arrived and it's a tight fit in the back. The f80 isn't known for being unreliable so the maintenance shouldn't be too bad. Yolo.

F30lolz · 06-24-2019, 07:10 PM

Quote:

Originally Posted by PoorLurker

Where did OP even go?

Tony Stark did Snap his fingers with the infinity stones so OP should be back. Maybe still crunching numbers.

Quote:

Originally Posted by greasypeanut

I would do it. One thing you didn't mention is your future wife's salary. At least in my marriage, her money is my money and vice versa. You seem to be a millennial like me and as long as you and your future wife will still going to be able to put money in savings, and also be able to go several months without that dual income when the babies come, get the car. Being "young" you will still have time to recover financially.

You're not buying a new M3 so the depreciation won't be horrible like my new OG M2, and also you won't have to worry about buying a bigger car, i.e. M3 because the baby arrived and it's a tight fit in the back. The f80 isn't known for being unreliable so the maintenance shouldn't be too bad. Yolo.

Just thought that if OP REALLY REALLY REALLY wants the car and ignore positive sound advice from most posters here, he could do BMW Select Financing on a CPO F80 M3 where he would be able to keep payments somewhat on the low. Finance the first 5 years and at the end of the term he can:

1). Return the car and walk away (Not a lease)
2). Trade it in for another BMW
3). Refinance for another 5 years

06-20-2019, 09:17 AM	#133
nyalpine90 Lieutenant General 7563 Rep 11,939 Posts Drives: MY24 G01 AW Msport Join Date: Feb 2008 Location: L.I. NY iTrader: (4) Garage List 2016 BMW X4 [9.25]	Did you buy the M3 and got kicked out?
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06-20-2019, 11:44 AM	#135
Run Silent Run Deep 15088 Rep 4,123 Posts Drives: Back and Forth To Work Join Date: Mar 2017 Location: The Mountains iTrader: (0) Garage List 2018 Alfa Romeo Giu ... [0.00] 2022 Ford Bronco 2d ... [0.00] 2016 Alfa Romeo 4C [8.50] 2019 BMW i8 Roadster [10.00]	I didn't even bother reading the last seven pages. I stopped when I saw $42,000 car and $65,000 income and still making a mortgage payment, of which half is being paid for by someone he isn't even married to. Are. you. insane? No. No. No. Do not buy a depreciating asset that costs nearly 3/4ths of your annual income. This is a terrible financial decision and one that will lead you down a poor path in the future because you will have now set an unattainable baseline. Think you are gonna drive an M3 around for a couple of years and then go back to a 230i? No way. It will become your new normal. Keep buying cars that you cannot afford over the course of your life and you will end up broke and miserable. Just no. __________________ *Don't sweat petty things....or pet sweaty things.*
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06-20-2019, 12:02 PM	#136
upstatedoc I'll get back to you 7541 Rep 2,132 Posts Drives: blue streak Join Date: Dec 2009 Location: not downstate iTrader: (2)	don't candy coat it R S, tell us how you really feel. __________________ 2018 Stinger GT 2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/ Countermeasure enthusiast.
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06-20-2019, 01:00 PM	#139
mikesx4911 Enlisted Member 35 Rep 36 Posts Drives: 2014 BMW 328i Join Date: Aug 2017 Location: Orange County iTrader: (0)	I was in the same position as you a month ago. I have a F30 that I love. Drove a M3 fell in love again haha. Got all the paperwork ready checked my insurance... And than I saw this damn posts on social media. Buy a car for 45k or invest 45k and let it pay for the car I thought about this for like 2 weeks. Of all the opportunities I missed buying things that didn't hold value. It's a personal choice of you buying it. I would say it def. sounds like you can afford it. But do you and the gf have any goals that might need a decent amount of change in the future?
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06-20-2019, 03:30 PM	#144
upstatedoc I'll get back to you 7541 Rep 2,132 Posts Drives: blue streak Join Date: Dec 2009 Location: not downstate iTrader: (2)	accountants __________________ 2018 Stinger GT 2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/ Countermeasure enthusiast.
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06-24-2019, 02:51 PM	#151
s0211 Private 101 Rep 69 Posts Drives: 2021 F90 M5 comp Join Date: May 2018 Location: Bay Area iTrader: (0)	If it has always been your dream to own one, do it now before you have other responsibilities to worry about, like wedding, kids, bigger house... etc.
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06-24-2019, 04:47 PM	#152
PoorLurker Custom User Title 1139 Rep 675 Posts Drives: a bicycle Join Date: May 2015 Location: Orange County, CA iTrader: (0)	Where did OP even go? Plot twist: The $10k he is putting down means the car only cost $32k, hahah
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06-24-2019, 05:45 PM	#153
greasypeanut Second Lieutenant 231 Rep 254 Posts Drives: F87 Join Date: Dec 2016 Location: 949 iTrader: (0)	I would do it. One thing you didn't mention is your future wife's salary. At least in my marriage, her money is my money and vice versa. You seem to be a millennial like me and as long as you and your future wife will still going to be able to put money in savings, and also be able to go several months without that dual income when the babies come, get the car. Being "young" you will still have time to recover financially. You're not buying a new M3 so the depreciation won't be horrible like my new OG M2, and also you won't have to worry about buying a bigger car, i.e. M3 because the baby arrived and it's a tight fit in the back. The f80 isn't known for being unreliable so the maintenance shouldn't be too bad. Yolo.
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