[DJKapeesh]

Hey guys,

let me start by saying this is a project I have been working on a while to put together some sort of reference material for young car enthusiast who are thinking about buying a car.


-I'm asking you to please describe what car you bought?
-What was the price of the car? Monthly payment amount?
-How did you buy the car? (100% Finance or 50/50 Cash finance ect?)
-What is you income and is this car affordable?
-Lastly what do you have in the bank? (Stock, savings, IRA, ect)?

If you wish to provide the information anonymously feel free to do so here: Wordpress BLOG

For my own personal use I would like to know what my finances should be before buying a 1M and how I should go about buying 1?

If you offer your contributions to this I will be using them at a later time to provide a write up for young generation X Y and millennials.

Thanks guy!

[CANGRKE70]

You're asking for a lot of personal information there...want me to turn my head and cough too?

[P1]

Your poll is useless because it leaves out too many unknowns. It's not about what you make; it's about what you already HAVE and what you SAVE each month on top of that.

What are you trying to achieve here? Compare the finances of others in order to make a decision whether you should buy a 1M or not?

You should share YOUR finances with us, and then we can chime in whether it makes sense or not. So, my questions for you:

1) How much is the car you'd like to buy?
2) Is your 135i paid off? How much do you owe on it?
3) How much do you make per month after taxes?
4) How much do you spend a month on bills?
5) What do you have in the bank?

[Delta0311]

Originally Posted by P1et

Your poll is useless because it leaves out too many unknowns. It's not about what you make; it's about what you already HAVE and what you SAVE each month on top of that.

What are you trying to achieve here? Compare the finances of others in order to make a decision whether you should buy a 1M or not?

You should share YOUR finances with us, and then we can chime in whether it makes sense or not. So, my questions for you:

1) How much is the car you'd like to buy?
2) Is your 135i paid off? How much do you owe on it?
3) How much do you make per month after taxes?
4) How much do you spend a month on bills?
5) What do you have in the bank?

EXCELLENT POINT!!
Who cares if you make $200k a year when your drowning in mortgage payments, alimony, and child support. You have to figure how much you have saved up and how much money you have left over once you pay all your monthly expenses.

[WreckerX5d]

I think the poll is enough information. Asking how much someone has in their personal bank account isn't relevant. If you ask "how much should you have in your account on X income" might turn better results.

[Lups]

LOL.

Yeah, and housewives needs options too.

did you tell your hubby what you bought?
Did you pay cash to avoid explaining what you bought?

[MightyMouseTech]

Annual salary has nothing to do with it.

[P1]

Originally Posted by Wrecker335d

I think the poll is enough information. Asking how much someone has in their personal bank account isn't relevant. If you ask "how much should you have in your account on X income" might turn better results.

Actually, asking how much someone has in their bank account when they're going to be buying something is *the* most relevant thing.

[Nkc]

So much to learn kid.

[gtron]

Originally Posted by DJKapeesh

Hey guys,

let me start by saying this is a project I have been working on a while to put together some sort of reference material for young car enthusiast who are thinking about buying a car.


-I'm asking you to please describe what car you bought?
-What was the price of the car? Monthly payment amount?
-How did you buy the car? (100% Finance or 50/50 Cash finance ect?)
-What is you income and is this car affordable?
-Lastly what do you have in the bank? (Stock, savings, IRA, ect)?


For my own personal use I would like to know what my finances should be before buying a 1M and how I should go about buying 1?

If you offer your contributions to this I will be using them at a later time to provide a write up for young generation X Y and millennials.

Thanks guy!

i can exchange that information but in return i require your SSN, DOB, and mothers maiden name. PM is fine.

[DJKapeesh]

Wow some quick and excellent points being made here! Didn't even have time to do an edit!

OK so here are some thoughts, can't address everyone at once but I will try to address what I can!

Lets start with what I'm asking
Yes this may be a lot of information. If I asked your personal income it would also be a lot of information. Problem is that there is a lack of information available for the young inexperienced with parents who will be working until they DIE.

That being said I am not asking for your social. I'm not asking names and to tell me bank accounts. I just want some general information you can describe it from your past or present or lie about it. You can tell me what your friend did. Any information that I can use will help.

When I use the information you will be anonymous and any information will be disguised by code names and fake information.

ALTERNATIVES
I am editing the main post to include a WORDPRESS Blog which you will be able to create a fake name and response and provide the information anonymously if this is to personal to do on a Blog among BMW owners.

Information
I'm not saying communism is right but among reading and doing a little research it becomes obvious why there are poor, middle, and upper class people. Why women make less than men and why most people will work until they die.
In an article published on Glassdoor they best described how transparency can lead to helping even the playing field.

I hope this helps answer some questions.

Also feel free to provide any information you feel relevant

Originally Posted by P1et

Your poll is useless because it leaves out too many unknowns. It's not about what you make; it's about what you already HAVE and what you SAVE each month on top of that.

What are you trying to achieve here? Compare the finances of others in order to make a decision whether you should buy a 1M or not?

You should share YOUR finances with us, and then we can chime in whether it makes sense or not. So, my questions for you:

1) How much is the car you'd like to buy?
2) Is your 135i paid off? How much do you owe on it?
3) How much do you make per month after taxes?
4) How much do you spend a month on bills?
5) What do you have in the bank?

My personal info is included in the Wordpress Blog.

This is my first year working out of school
I just started making 80+ yearly and have saved 1k in stock and around 5k liquid cash in my first year of working. I just opened my first Roth IRA and plan to put the maximum money in yearly.

Student loan debt = 30k ish but I plan to pay the fixed $231 until I die because f*ck them and I hope they get discharged in the future.
I owe 28k on my car after refinancing and will begin paying 1k monthly for the next 6 months until it is positive equity.

I am being 100% transparent and have nothing to hide. I am only 25 and possible head and shoulders financially better than some of my peers. This information is to help them and me.

[Lups]

Dude how about telling us your stats and we tell you if you should buy the car or not.

[HoustonRider]

any finance/loan calculator (how much X can I afford) online will answer this for you.

If you buy a car (any car) and it costs any amount, there about 10 variables just in what it may cost monthly (if you finance); how much down, amount financed, tax rate, loan to income ratio, credit rating, income, time at job, etc.

If you buy it outright, then you know your answer as well.

go down to the BMW store and ask em.

[DJKapeesh]

Originally Posted by Lups

Dude how about telling us your stats and we tell you if you should buy the car or not.

I did above in edit

[Nkc]

And for a second there I thought you were asking about buying a car. You obviously have something else in mind. You are one sneaky kid though, I'll give you that.

[Delta0311]

Originally Posted by DJKapeesh

Wow some quick and excellent points being made here! Didn't even have time to do an edit!

OK so here are some thoughts, can't address everyone at once but I will try to address what I can!

Lets start with what I'm asking
Yes this may be a lot of information. If I asked your personal income it would also be a lot of information. Problem is that there is a lack of information available for the young inexperienced with parents who will be working until they DIE.

That being said I am not asking for your social. I'm not asking names and to tell me bank accounts. I just want some general information you can describe it from your past or present or lie about it. You can tell me what your friend did. Any information that I can use will help.

When I use the information you will be anonymous and any information will be disguised by code names and fake information.

ALTERNATIVES
I am editing the main post to include a WORDPRESS Blog which you will be able to create a fake name and response and provide the information anonymously if this is to personal to do on a Blog among BMW owners.

Information
I'm not saying communism is right but among reading and doing a little research it becomes obvious why there are poor, middle, and upper class people. Why women make less than men and why most people will work until they die.
In an article published on Glassdoor they best described how transparency can lead to helping even the playing field.

I hope this helps answer some questions.

Also feel free to provide any information you feel relevant



My personal info is included in the Wordpress Blog.

This is my first year working out of school
I just started making 80+ yearly and have saved 1k in stock and around 5k liquid cash in my first year of working. I just opened my first Roth IRA and plan to put the maximum money in yearly.

Student loan debt = 30k ish but I plan to pay the fixed $231 until I die because f*ck them and I hope they get discharged in the future.
I owe 28k on my car after refinancing and will begin paying 1k monthly for the next 6 months until it is positive equity.

I am being 100% transparent and have nothing to hide. I am only 25 and possible head and shoulders financially better than some of my peers. This information is to help them and me.

Yeah that's awesome but how much can you bench?

[Revartr]

I mean, it really depends on what your current financial situation is, what your expenditures are, monthly bills/debt, "cushion" saved up, how you plan on financing or purchasing the vehicle, etc. I make nowhere near as much as some members on here, but I financed a near fully-loaded M4 towards the end of last year. But at the same time, I had a fairly sizable down payment saved up to put down, plenty of "cushion" saved up in the bank and elsewhere, and my monthly bills and expenditures are fairly low, allowing me a good bit left over.

[Kwando]

Originally Posted by DJKapeesh

Student loan debt = 30k ish but I plan to pay the fixed $231 until I die because f*ck them and I hope they get discharged in the future.

wut lol. I think I've read everything I need in here.

[DJKapeesh]

Originally Posted by Revartr

I mean, it really depends on what your current financial situation is, what your expenditures are, monthly bills/debt, "cushion" saved up, how you plan on financing or purchasing the vehicle, etc. I make nowhere near as much as some members on here, but I financed a near fully-loaded M4 towards the end of last year. But at the same time, I had a fairly sizable down payment saved up to put down, plenty of "cushion" saved up in the bank and elsewhere, and my monthly bills and expenditures are fairly low, allowing me a good bit left over.

The funny part is you are in the generation I'm speaking of. Interesting

- The vehicle in question is my base model 128i in fabulous sedona red with ebony interior (as I like my women).
- Price of my 128i was $39,999 + tax + registration + HJ to the salesman (under the table of course).
- How did I buy the car? I walked into the nearest Bavarian Motor Works dealership.
- I currently make about $500k (pre-tax), the car is pretty affordable, but the $80 oil changes are nonsense.
- In the bank, I'm sitting on about $50k cash. $20k in gold. $50k in stock. Maxed out IRA.
- Credit card number is 7564 2859 1834 1038, It is a Master Card, Security key is 696
- Social Security Number is 309-34-8394
- My mothers maiden name is Clinton

That should be sufficient for you to make your spreadsheet. Please email it to me when you get it done.

[Revartr]

Originally Posted by DJKapeesh

The funny part is you are in the generation I'm speaking of. Interesting

I didn't bother to read much of the bulk above, my response was strictly to the title question, haha. I would say that in my situation, my car is affordable. And no, mommy and daddy aren't paying for it.

[Whostheboss]

Originally Posted by DJKapeesh

Wow some quick and excellent points being made here! Didn't even have time to do an edit!

OK so here are some thoughts, can't address everyone at once but I will try to address what I can!

Lets start with what I'm asking
Yes this may be a lot of information. If I asked your personal income it would also be a lot of information. Problem is that there is a lack of information available for the young inexperienced with parents who will be working until they DIE.

That being said I am not asking for your social. I'm not asking names and to tell me bank accounts. I just want some general information you can describe it from your past or present or lie about it. You can tell me what your friend did. Any information that I can use will help.

When I use the information you will be anonymous and any information will be disguised by code names and fake information.

ALTERNATIVES
I am editing the main post to include a WORDPRESS Blog which you will be able to create a fake name and response and provide the information anonymously if this is to personal to do on a Blog among BMW owners.

Information
I'm not saying communism is right but among reading and doing a little research it becomes obvious why there are poor, middle, and upper class people. Why women make less than men and why most people will work until they die.
In an article published on Glassdoor they best described how transparency can lead to helping even the playing field.

I hope this helps answer some questions.

Also feel free to provide any information you feel relevant



My personal info is included in the Wordpress Blog.

This is my first year working out of school
I just started making 80+ yearly and have saved 1k in stock and around 5k liquid cash in my first year of working. I just opened my first Roth IRA and plan to put the maximum money in yearly.

Student loan debt = 30k ish but I plan to pay the fixed $231 until I die because f*ck them and I hope they get discharged in the future.
I owe 28k on my car after refinancing and will begin paying 1k monthly for the next 6 months until it is positive equity.

I am being 100% transparent and have nothing to hide. I am only 25 and possible head and shoulders financially better than some of my peers. This information is to help them and me.

Originally Posted by Delta0311

Yeah that's awesome but how much can you bench?

Does he even lift?