[Japanese_Racer]

EDIT

[.:bHd:.]

You're crazy man $1500 is barely enough for a 328i. If I were you i wouldn't spend all of my salary on a car. What if you get fired whos gonna continue paying your payments. Plus you wont get approved for the loan for sure. Oh and don't put 10k on a down payment for a car lol thats just crazy.. Invest in something dude.

[chrisE92]

HB? We should meet up sometime! Well, like your father said, "A man can never tell another man what to spend his money on", so no point in asking us!

seriously though, I don't know how much payments would be, but if you're comfortable with a high percentage of your income going toward the car, then go for it.

[BayAreaE92]

If you qualify for a bank loan you'll be able to make the payment, but with not too much $$ left at the end of the month. Hard to say w/o any figures to work with. Can't put a price on passion, if you'll be crazy and happy can't hate on that. We all splurge sometimes!

[Japanese_Racer]

Originally Posted by .:bHd:.

You're crazy man $1500 is barely enough for a 328i. If I were you i wouldn't spend all of my salary on a car. What if you get fired whos gonna continue paying your payments. Plus you wont get approved for the loan for sure. Oh and don't put 10k on a down payment for a car lol thats just crazy.. Invest in something dude.

Yeah,.....

I tried the calculate a payment thing on socalbmw.com Says that if I put $15k on down payment with a 36 month finance term, says mothly payments would be around $1100. Insurance isn't a problem. That means I have $400 for gas and other stuff, which is more than enough for me.

[Japanese_Racer]

Originally Posted by chrisE92

HB? We should meet up sometime! Well, like your father said, "A man can never tell another man what to spend his money on", so no point in asking us!

seriously though, I don't know how much payments would be, but if you're comfortable with a high percentage of your income going toward the car, then go for it.

Wasn't wanting to know whether to buy the car or not, but rather if my income would allow for it. Insurance isn't a problem(good student, parents pay for me) as wells as gas. I also have no problem with most of my income to go towards my car. I don't spend anything on junk either.

[325 Baller]

If you plan on keeping the car for awhile why finance for 36 months? Also heard bmw is having some awesome rates on financing .09% (not sure if that is all dealers or just a local one afriend told me about) but with that rate and a 60 month term its 942 a month which leaves you 558 to mess around with.


EDIT: not sure if that rate applies to M cars either though

[Japanese_Racer]

Originally Posted by 325 Baller

If you plan on keeping the car for awhile why finance for 36 months? Also heard bmw is having some awesome rates on financing .09% (not sure if that is all dealers or just a local one afriend told me about) but with that rate and a 60 month term its 942 a month which leaves you 558 to mess around with.


EDIT: not sure if that rate applies to M cars either though

True. However, 5 year sounds kind of really long to me. If I can manage, I'd rather "own" my car faster.

[ChineseGuy]

A car comes with maintenance and all those crap.

If you get fired, you're basically screwed.

[Japanese_Racer]

Originally Posted by ChineseGuy

A car comes with maintenance and all those crap.

If you get fired, you're basically screwed.

Me getting fired is litterally very very low. I'm a manager, and everyone loves me.

If I do get fired however, my dad says he'll let me work at his restaurant, and my income will be the same or even better. Thats my worst case scenario plan.

[Androo000]

you probably wont even qualify for the bank loan. So unless you somehow come up with 70k CASH, your parents are buying the car for you. /thread go back to school. And you have horrible parents btw. Thats the most ridiculous quote i've ever heard from a father.

[to_riffic]

i dont see $1500 being able to cover for the car....but there r those that always prove one wrong. so gl to u dude!

[Saigon]

I don't know bro, $1500/mo income for an m3?! theres guys on this forum that make 100k+ that drive those cars and have a tough decision whether or not to buy it. But maybe a 328 or 335 would be an even better buy at your age. I'm assuming your still going to school so it's not safe in case something happens. Plan for your future too just don't think about buying a car, after a while you will know it sinks in that it's just a car. I had the choice of buying a 335 or a 328 and I figured the 328 would be a better investment (and my family still thinks im crazy for buying a car so expensive). This is also coming from a 20 year old's point of view, invest your money in something, and get a 328 or a used one. By the way, 10k is NOTHING as a down payment for the m3 if you are only making 1500/mo. if you get fired you are screwed, you still have 60k to finance!? That's too much in my opinion, that's not worth it to squeeze for just a car. Think about the long term, not short term. If I could go back, I would have bought a used car private party.

[san~man]

Originally Posted by Japanese_Racer

I tried the calculate a payment thing on socalbmw.com Says that if I put $15k on down payment with a 36 month finance term, says mothly payments would be around $1100. Insurance isn't a problem. That means I have $400 for gas and other stuff, which is more than enough for me.

Who's going to pay for your insurance?

$400 for gas doesn't seem like much, unless you don't drive much.

How you going to eat and have money left over for luxuries, etc.?

If you can swing it, do it, but it seems like you're stretching it very thin.

[stimpy]

I wouldn't even consider it - you'd be biting off WAY more than you can chew.
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RC172
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GM LT1 engine
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TIMES

[jhv]

Originally Posted by Androo000

you probably wont even qualify for the bank loan. So unless you somehow come up with 70k CASH, your parents are buying the car for you. /thread go back to school. And you have horrible parents btw. Thats the most ridiculous quote i've ever heard from a father.

a little extreme there, especially with that horrible parents statement. do me a favor and go off yourself.

[bolinp78]

You're trying to move up the ladder too fast, that's about all I can say.

You are young, and your priorities are mixed up at this point.

You should be worrying about how much you can save at this point instead of how you are going to finance a car that you don't need.

[SlammedR8]

I thought I was nuts!
geez!
$1500 a month barely covers the car payment!

[Couch]

No No No and NO.

Save Save Save Save!

[SoCali E36]

Originally Posted by Couch

No No No and NO.

Save Save Save Save!

+ A LOT!!!!

[ZJP]

$1500/mo. income with a $70k car is definitely pushing it.

A 335i is more realistic for your situation, maybe even pre-owned

[ganeil]

1. Teenagers and 400+hp is never a good combination.

2. You did not really work to afford this car all on your own if you are still living in your parent's house, eating their food, and relying on them for insurance.

3. Save your money, help out your parents, keep the car you have, and defer getting the M3 until you truly are mature and independent enough to handle it without your parents.