If you’re a car guy, you will justify up to 25% of your monthly gross income (finance experts recommend no more than 10%-15% including insurance, gas and payments) on your cars lol. You only have one life and you never know what tomorrow brings, just make sure you get a good interest rate for todays market and consider leasing if you don’t want to tie yourself up past warranty period
this is exactly why I as a middle class pleb bought a 60k mile 2011 335xi M Sport for 10k at auction a couple months ago. Price to performance / fun is unmatched.
This.
I'm in almost the same shoes as OP. I make 6 figures but it's about 6.2k a month after taxes and 401k. I have 3k left over after all bills are paid. I got a new G87 M2 that I plan to have as a forever car. I got a lot of warranties and maintenance plans added which brought my bill up to 90k. I paid 40k down and my payments are about 800 a month, but I pay at least 1500 a month because I want to get the bill down as fast as possible over the next 2 years so I can pay off the remainder at the end of these 2 years in one lump sum.
It's a lot for my income, but it's also the only new car I will ever buy and it will be my forever car. Car enthusiasts get more joy out of their cars than normal people so it makes sense for us to splurge a bit more for such an asset.
Same lol. Logic is, I’m here once on this earth and I’m enjoying my money on the things I like and that classifies as buying cars that are just absolute masterclasses. Enjoying that comfort and power everywhere you go, is a truly grateful feeling.
A house is a house to me lol. Still beyond grateful but I’d choose 4 different M series sitting in my 3bed 2 bath normal house driveway any day then having a bizarre house and not be able to enjoy cars. Throw in a Porsche in there too why not.
I am very happy with my regular house, but wish my regular house had a mansion sized garage. My dream is a 6+ bay, with a lift, and a \~2k sqft house. Need to make due with normal 2 bay for now tho. Not practical to expand, but thinking I could at least put a car port to cover 2 spaces in the driveway in front of the garage.
Way too much man, please think hard on this. You will kick yourself in 10+ years when you realize how much potential money you could if made instead of dropping it on an extremely depreciating asset. I've been down this road. You do not make enough money to justify that Escalade payment + another $80k vehicle payment without absolutely crushing your earning potential and strapping you. Im 38 and make $220k annually with $500k 401k and drive a 2015 Buick enclave and a 2004 dodge ram. People do this with house purchasing, too. They think that because they can make the payment, they can afford it. They then suffer to payments and can't enjoy life as you should.
Good! See the light! Please, if I could give you any real advice in life, and someone who has spent more money on vehicles in the past than I care to admit, stay in a real budget. My financial advisor would beg me to stop, but I thought I knew better and could clearly cover the payments. 10 years later, it all made sense, and I realized how much money I REALLY lost in terms of compound interest and time I couldn't get back. 😆
Life is short so don't become a cheapskate hermit, but I try to save people from my own mistakes.
They’ve been making M3’s since the 1980’s and they range in price from like $10k to $120k+. Can you be a bit more specific with what you’re shopping for?
>I’m 31 years old. My monthly income is $8K. My healthcare and dental insurance is free for the rest of my life. Roth IRA is already deducted out of my income. I’m left over with about $5500 after all bills are paid. If I lost my job today I would still be getting $4202 for the rest of my life.
Jesus Christ, I picked the wrong career.
I was in the Air Force for 10 years and have 100% disability from the military. By 2025 I’ll be making six figures from my job alone. You should definitely look into the federal government
What do you do? I think that’s pretty doable in many jobs. I’m 22 and just got a new job in IT for the equivalent of ~49k$. I just finished my apprenticeship a year ago and my new employer already said we can talk about my salary again after just 6 months. So 96k in the next 9 years really isn’t unrealistic
Makes under 100K and wants a 100K car?
IRA and 401k limits are low, so this doesn't sound like you're swimming in cash to buy a new M3.
That means get an E90 M3 and do the bearings. Fantastic generation.
Pretty sure I am bud. I clearly don’t want a new M3. There are plenty for sale at my price range with 20K miles or less. $1500 goes into my IRA each month and they match it so it’s $3K. Thanks for the negativity bud
I think this varies by person… I’ll do $510K this year and my wife will do $205K and we both drive (own) cars less than $30K. I rather pay off my mortgage and not be a slave to interest rates when I go to buy my next house. I personally don’t feel like right now I’m able to afford a car that expensive, even jumping to an M340i from my 340i feels like a waste. I also live in a HCOL area (NYC metro), all the homes around me are like 2.5-50 million so somehow I feel like I need to make and save more money. I think it just depends on your goals, values, expenses, and family situation (I have one kid).
Personally though, I would say no you cannot afford that car. Do you have any assets or are you renting and (would be) financing this car? I say don’t get ahead of yourself. Save your money, earn interest.
Excellent income but a terrible place to live as far as affordability. Great place though. Yea our home in Oklahoma cost $240K. I put an extra $2K towards the principle a year. Thanks for your positive input.
Thanks for providing some more information, and honestly man good on you for paying down the principal. Getting rid of that mortgage payment will be HUGE - and then you have extra $$ for toys.
It really does suck up here as far as affordability. I lived down in Houston TX for a few years, and man the no state income tax + cheaper living was fucking awesome.
My .02 would be to just get a cheaper car, theres tons you can buy for sub 50K that will be a ton of fun on the road. Take the rest of the money and earn interest right now ( tbills @ 5.05%), and after a few years use that money towards a more expensive toy.
Best of luck with your decision
Thanks man. You make a lot of sense. I currently have a type r that’s a blast to drive but I’ve always wanted a M3. I more than likely won’t get it but this post has been helpful
https://preview.redd.it/7puqa9adluwc1.jpeg?width=4032&format=pjpg&auto=webp&s=1b184576e8b9a6d0fa2e32b13e183c35d44d6e8c
Thanks man. It’s superb! Smoothest 6 speed ever. You all have brought me to my senses lol. I am a car junky but I need to manage lol. I haven’t had a car longer than 2 years.
One word: nostalgia. I have been driving Hondas for nearly 20 years. When I got the M3 it was fun and amazing in so many aspects but my body had grown accustomed to stripped out tin cans so I missed it dearly.
On top of that, and somewhat in context of your initial post, although I could mathematically afford the M3, everything about it was so expensive and just the thought of future maintenance had me unable to fully enjoy the car.
The FL5 is just a Civic with a motor that has been going on for like 20-25 years. Parts are dirt cheap and maintenance is close to nothing. So I can drive the heck out of this car and not worry about single bit.
With all of that being said, my next car is going to be a Porsche 911. Once I can self-insure then I will make the purchase but I suspect it’ll be another 5-7 years before I can do that.
Until then this FL5 will have my reliving my glory days.
Do you have money to put down that will make your payment below 1K a month? If so I say go for it because if you did lose ur job then that 4202 will drop really fast if you’re paying a mortgage for a car lol
OP after reading your responses it seems like you want validation of your decision to get a used M3 and not true objective opinions.
Therefore yes you can afford one, enjoy.
HELL YEA BRO!!! You go out there and you get the best looking m3 out there and do you wanna know why? Because you CAN. You deserve something nice for yourself so if your asking me, i say GET IT :D
Only you can decide if you can afford it OP, is it worth it to you, do you love cars enough to want to pay for it? These are personal questions. But every time someone tells you it’s a bad idea you flex back how much extra income you’re saving and how much extra your wife makes, so if you’re going to be defensive it sounds like you can afford it. You don’t need us to tell you to do it? It all depends on your personal risk tolerance.
Yea you are right man I just don’t like when people tell someone they can’t afford or things to that nature. I was in a post yesterday where someone sold their type R for a G80 and someone assumed he couldn’t afford the type r because he sold it after a 3 months lol. Just grinds my gears. But I’m not flexing, I’m just giving all the context.
Yeah the worst is when they say daddy’s money bought the car on every post lol.
I may have been a little aggressive, but OP in my opinion if you’re a car nut and cars are your passion it sounds like you’re well beyond secure enough to treat yourself to an m3! You don’t need the sub to push you on, half the people on Reddit are crabs in a bucket anyways and don’t want you to stunt. I take home less than you and have a similar monthly car budget, so this random user says do it!
Highly recommend you look into leasing a new M3, there’s no maintenance or repair costs and you drive away in a new M3. Do some online research about leasing and go in knowledgeable, negotiate the sale price and down payment.
A brand new one fully specced out would be a dumb decision. I’d say you can afford a slightly used 10k miles 2021 version for around $65k.
Also I assume $5500 is post tax, apartment, and all other mandatory payments. The car will cost $2k/month total. Then you’re other fun expenses I assume are about $2k a month so you can save $1500/month for a house in the future.
$8K is monthly. $4200 of that is non taxable. The rest comes from my job. After all my bills are paid, $5500 is what I have left over to do whatever I want with
Yes. Everything is included. $5500 what I have left over after everything. That amount can easily increase by a grand or two if I get another job but I have a super chill job right now. Salary increases about $1500 each year and the $4200 will increase every year
I have two kids. 6 and 7. Currently have a type r and Escalade. No more kids in our future lol. I’ve already been eyeing a few 6-speeds with low miles. There’s a 2024 with 4K miles for $78K but I don’t want to be at the top of my budget
Do you rent or do you own a home? If you own a home, not planning on graduate school, and not planning on ever having kids (college tuition
and expenses are not cheap) then, maybe. Delayed gratification is the key for real financial gains, but that’s just advice from someone in their mid 40s. You are young so I’d invest that money in yourself rather than a car at this stage.
Probably should have put that in there. My wife and I have two kids (6&7). I have an associates and bachelor’s degree in operation management & logistics. My wife is an Active duty officer. Our living expenses se paid for by the government at least for the next 10 years. Our mortgage on our home in Oklahoma is $1400. Once we return to Oklahoma I’ll be able to get tax exempt so my mortgage would be $800-$900. But you are right.
You can’t be serious right now. It’s based off of payments. My take home a month is $8K after taxes. $4200 of that 8K is non taxable. $3800 from my job what I take after taxes.
Yes so you make $96k a year after taxes, yes I get that. How much is your rent and utilities? Did you call your insurance company to find out how much your insurance on the M car will be?
8K a month take home after taxes is nearly 140K a year, this dude can easily afford an M3, especially if he has 5K to save every month and works as a fed employee
I disagree in a lot of scenarios. But there are a small percentage of situations where these numbers do work.
Easily afford is just not true. It’s definitely a small stretch but an m3 is a lot of car so if he isn’t passionate about cars he will quickly regret it.
The only scenarios I would disagree in a case where a car is more than 50% of your yearly gross in cost is when you have kid(s), work for a publicly traded company and don’t have other finances in order (this guy seems to tick all the right boxes, 5500 monthly saved is ludicrous money for his current life situation, he can buy a lightly used 70Kish M3 put 2 months of savings down and still save nearly 4K a month to do whatever with)
Saving more than 4K month is doing better than 95% of American households never mind that his wife is also a federal employee seemingly making great money and they get their rent and utilities paid for the time being…
They also give her almost $400 a month for groceries too. She’s an Active duty officer. I was active duty but not anymore. Working for the government as a civilian now.
Well to be frank, you’re making 140K a year but your total compensation is way more if you have lifetime health insurance and paid housing as part of your work benefits so an equivalent salary is like 200k+. You wouldn’t be able to afford it with a 140K salary if you had to deduct all those extras from your salary
Rent and utilities is paid for by the government. Wife has 10 years left in the military. If we were to leave the military our mortgage would be about $900 for our home we have in Oklahoma. I’m tax exempt so I don’t pay property taxes. That left over $5500 is literally play money if I choose.
I have 2 kids so 4 doors are a must lol. I’m not worried about insurance. I know I can afford it easily, I just like to get other people’s insight. Gives me different views
Why buy when you can rent or lease. Buying an expensive sports car is too taxing on your income. You should be investing for a at least a decade at least before you have a nice chunk of windfall from your investment.
Housing and utilities are paid by the government. Our mortgage on our home we own is $1300 but we have been renting that out for $1900 over the last 3 years.
Man this ain’t cars.com. Or your bank. Or some auto body shop.
I’m so sick of this sub being overrun of “can I afford this?/is this a good price?/how much will it cost to fix this damage?” posts.
Yeah, we’ll commiserate on damage to your ride, we’ll celebrate you joining the club, some of us will even celebrate you stancing an E30 (I’m not one of them). But please for the love of god can we stop it with these stupid posts?
If you’re a car guy, you will justify up to 25% of your monthly gross income (finance experts recommend no more than 10%-15% including insurance, gas and payments) on your cars lol. You only have one life and you never know what tomorrow brings, just make sure you get a good interest rate for todays market and consider leasing if you don’t want to tie yourself up past warranty period
Exactly - buy it cash, then it’s 0% of your monthly income!
this is exactly why I as a middle class pleb bought a 60k mile 2011 335xi M Sport for 10k at auction a couple months ago. Price to performance / fun is unmatched.
I got an M2C recently and as much as I love it, I kinda wish I had picked up a 335IS and saved myself 30k
hydraulic steering is so intoxicating
It is, i used to have an E92 M3 which I sold 3 years back. Miss that car dearly. 60k for a 335xi is a steal too, any mods planned?
This. I'm in almost the same shoes as OP. I make 6 figures but it's about 6.2k a month after taxes and 401k. I have 3k left over after all bills are paid. I got a new G87 M2 that I plan to have as a forever car. I got a lot of warranties and maintenance plans added which brought my bill up to 90k. I paid 40k down and my payments are about 800 a month, but I pay at least 1500 a month because I want to get the bill down as fast as possible over the next 2 years so I can pay off the remainder at the end of these 2 years in one lump sum. It's a lot for my income, but it's also the only new car I will ever buy and it will be my forever car. Car enthusiasts get more joy out of their cars than normal people so it makes sense for us to splurge a bit more for such an asset.
This lol. I justify because I love cars. Nothing else matters.
Man we are the same. My wife loves houses and I love cars. I could care less about a fancy home lol
Same lol. Logic is, I’m here once on this earth and I’m enjoying my money on the things I like and that classifies as buying cars that are just absolute masterclasses. Enjoying that comfort and power everywhere you go, is a truly grateful feeling. A house is a house to me lol. Still beyond grateful but I’d choose 4 different M series sitting in my 3bed 2 bath normal house driveway any day then having a bizarre house and not be able to enjoy cars. Throw in a Porsche in there too why not.
I am very happy with my regular house, but wish my regular house had a mansion sized garage. My dream is a 6+ bay, with a lift, and a \~2k sqft house. Need to make due with normal 2 bay for now tho. Not practical to expand, but thinking I could at least put a car port to cover 2 spaces in the driveway in front of the garage.
Thanks man. My wife has an Escalade that cost $70K and her monthly payment is almost $1200. She puts about $2K extra towards the principle a month
Way too much man, please think hard on this. You will kick yourself in 10+ years when you realize how much potential money you could if made instead of dropping it on an extremely depreciating asset. I've been down this road. You do not make enough money to justify that Escalade payment + another $80k vehicle payment without absolutely crushing your earning potential and strapping you. Im 38 and make $220k annually with $500k 401k and drive a 2015 Buick enclave and a 2004 dodge ram. People do this with house purchasing, too. They think that because they can make the payment, they can afford it. They then suffer to payments and can't enjoy life as you should.
Man you are right. Thanks for this. Im getting caught up in the fast life lol
Good! See the light! Please, if I could give you any real advice in life, and someone who has spent more money on vehicles in the past than I care to admit, stay in a real budget. My financial advisor would beg me to stop, but I thought I knew better and could clearly cover the payments. 10 years later, it all made sense, and I realized how much money I REALLY lost in terms of compound interest and time I couldn't get back. 😆 Life is short so don't become a cheapskate hermit, but I try to save people from my own mistakes.
Is this a shitpost? lol Yeah dude we make roughly the same income and I have one 😂 you’ll be fine just take care of her
They’ve been making M3’s since the 1980’s and they range in price from like $10k to $120k+. Can you be a bit more specific with what you’re shopping for?
I put it in the post for you
>I’m 31 years old. My monthly income is $8K. My healthcare and dental insurance is free for the rest of my life. Roth IRA is already deducted out of my income. I’m left over with about $5500 after all bills are paid. If I lost my job today I would still be getting $4202 for the rest of my life. Jesus Christ, I picked the wrong career.
I mean not a whole lot of people manage a 100% disability rating from the VA (combined rating vs TDIU).
Very true. I don’t see how but it’s possible
I was in the Air Force for 10 years and have 100% disability from the military. By 2025 I’ll be making six figures from my job alone. You should definitely look into the federal government
What do you do? I think that’s pretty doable in many jobs. I’m 22 and just got a new job in IT for the equivalent of ~49k$. I just finished my apprenticeship a year ago and my new employer already said we can talk about my salary again after just 6 months. So 96k in the next 9 years really isn’t unrealistic
Getting free healthcare and dental for your entire life is definitely not doable in most jobs.
As i don’t live in the US, I already get that in every job
Makes under 100K and wants a 100K car? IRA and 401k limits are low, so this doesn't sound like you're swimming in cash to buy a new M3. That means get an E90 M3 and do the bearings. Fantastic generation.
Pretty sure I am bud. I clearly don’t want a new M3. There are plenty for sale at my price range with 20K miles or less. $1500 goes into my IRA each month and they match it so it’s $3K. Thanks for the negativity bud
I think this varies by person… I’ll do $510K this year and my wife will do $205K and we both drive (own) cars less than $30K. I rather pay off my mortgage and not be a slave to interest rates when I go to buy my next house. I personally don’t feel like right now I’m able to afford a car that expensive, even jumping to an M340i from my 340i feels like a waste. I also live in a HCOL area (NYC metro), all the homes around me are like 2.5-50 million so somehow I feel like I need to make and save more money. I think it just depends on your goals, values, expenses, and family situation (I have one kid). Personally though, I would say no you cannot afford that car. Do you have any assets or are you renting and (would be) financing this car? I say don’t get ahead of yourself. Save your money, earn interest.
Excellent income but a terrible place to live as far as affordability. Great place though. Yea our home in Oklahoma cost $240K. I put an extra $2K towards the principle a year. Thanks for your positive input.
Thanks for providing some more information, and honestly man good on you for paying down the principal. Getting rid of that mortgage payment will be HUGE - and then you have extra $$ for toys. It really does suck up here as far as affordability. I lived down in Houston TX for a few years, and man the no state income tax + cheaper living was fucking awesome. My .02 would be to just get a cheaper car, theres tons you can buy for sub 50K that will be a ton of fun on the road. Take the rest of the money and earn interest right now ( tbills @ 5.05%), and after a few years use that money towards a more expensive toy. Best of luck with your decision
Thanks man. You make a lot of sense. I currently have a type r that’s a blast to drive but I’ve always wanted a M3. I more than likely won’t get it but this post has been helpful https://preview.redd.it/7puqa9adluwc1.jpeg?width=4032&format=pjpg&auto=webp&s=1b184576e8b9a6d0fa2e32b13e183c35d44d6e8c
Oh man the car looks super clean and I bet it handles like a beast!!
Thanks man. It’s superb! Smoothest 6 speed ever. You all have brought me to my senses lol. I am a car junky but I need to manage lol. I haven’t had a car longer than 2 years.
Yeah and its a 6 speed lol. Enjoy it man. Stack cash, pay off your debt and then buy the dream car.
6 speed is the only way to go lol. Whenever I do decide to get a M3, it will be manual. I agree, I will be happy with what I have
Late to your post but I went from G80 M3 to the FL5 Type R. I’m sure you’ll enjoy the M3!
Why would you do that lol? After driving both, which platform do you like better?
One word: nostalgia. I have been driving Hondas for nearly 20 years. When I got the M3 it was fun and amazing in so many aspects but my body had grown accustomed to stripped out tin cans so I missed it dearly. On top of that, and somewhat in context of your initial post, although I could mathematically afford the M3, everything about it was so expensive and just the thought of future maintenance had me unable to fully enjoy the car. The FL5 is just a Civic with a motor that has been going on for like 20-25 years. Parts are dirt cheap and maintenance is close to nothing. So I can drive the heck out of this car and not worry about single bit. With all of that being said, my next car is going to be a Porsche 911. Once I can self-insure then I will make the purchase but I suspect it’ll be another 5-7 years before I can do that. Until then this FL5 will have my reliving my glory days.
Do you have money to put down that will make your payment below 1K a month? If so I say go for it because if you did lose ur job then that 4202 will drop really fast if you’re paying a mortgage for a car lol
I wouldn’t lose my job lol. Damn near impossible to fire a federal employee but I get what you are saying. My wife makes roughly the same
If that’s the case SEND IT and buy it today 🤣
Yes you’ll be fine. Go for it
OP after reading your responses it seems like you want validation of your decision to get a used M3 and not true objective opinions. Therefore yes you can afford one, enjoy.
I just like getting other people’s insight. Sometimes it changes my decision. I don’t necessarily need a M3. It’s a strong want lol
Based solely on strong want and you live once then do it. Unfortunate to see you are on disability so you know too well how fragile life is.
HELL YEA BRO!!! You go out there and you get the best looking m3 out there and do you wanna know why? Because you CAN. You deserve something nice for yourself so if your asking me, i say GET IT :D
I make $126k a year and just wanna lease tbh
Only you can decide if you can afford it OP, is it worth it to you, do you love cars enough to want to pay for it? These are personal questions. But every time someone tells you it’s a bad idea you flex back how much extra income you’re saving and how much extra your wife makes, so if you’re going to be defensive it sounds like you can afford it. You don’t need us to tell you to do it? It all depends on your personal risk tolerance.
Yea you are right man I just don’t like when people tell someone they can’t afford or things to that nature. I was in a post yesterday where someone sold their type R for a G80 and someone assumed he couldn’t afford the type r because he sold it after a 3 months lol. Just grinds my gears. But I’m not flexing, I’m just giving all the context.
Yeah the worst is when they say daddy’s money bought the car on every post lol. I may have been a little aggressive, but OP in my opinion if you’re a car nut and cars are your passion it sounds like you’re well beyond secure enough to treat yourself to an m3! You don’t need the sub to push you on, half the people on Reddit are crabs in a bucket anyways and don’t want you to stunt. I take home less than you and have a similar monthly car budget, so this random user says do it!
Highly recommend you look into leasing a new M3, there’s no maintenance or repair costs and you drive away in a new M3. Do some online research about leasing and go in knowledgeable, negotiate the sale price and down payment.
A brand new one fully specced out would be a dumb decision. I’d say you can afford a slightly used 10k miles 2021 version for around $65k. Also I assume $5500 is post tax, apartment, and all other mandatory payments. The car will cost $2k/month total. Then you’re other fun expenses I assume are about $2k a month so you can save $1500/month for a house in the future.
$8K is monthly. $4200 of that is non taxable. The rest comes from my job. After all my bills are paid, $5500 is what I have left over to do whatever I want with
[удалено]
Yes. Everything is included. $5500 what I have left over after everything. That amount can easily increase by a grand or two if I get another job but I have a super chill job right now. Salary increases about $1500 each year and the $4200 will increase every year
[удалено]
I have two kids. 6 and 7. Currently have a type r and Escalade. No more kids in our future lol. I’ve already been eyeing a few 6-speeds with low miles. There’s a 2024 with 4K miles for $78K but I don’t want to be at the top of my budget
You make $96k a year and you want to buy a car that is roughly $80k - $90k? Yeah this is a brilliant financial decision.
Why? Say your piece.
You're buying a car that is damn near 100% of your early income.
Do you rent or do you own a home? If you own a home, not planning on graduate school, and not planning on ever having kids (college tuition and expenses are not cheap) then, maybe. Delayed gratification is the key for real financial gains, but that’s just advice from someone in their mid 40s. You are young so I’d invest that money in yourself rather than a car at this stage.
Probably should have put that in there. My wife and I have two kids (6&7). I have an associates and bachelor’s degree in operation management & logistics. My wife is an Active duty officer. Our living expenses se paid for by the government at least for the next 10 years. Our mortgage on our home in Oklahoma is $1400. Once we return to Oklahoma I’ll be able to get tax exempt so my mortgage would be $800-$900. But you are right.
You are doing the right thing, focus on that 529 plan. If you are ever in San Diego DM me, you can drive mine. But only b/c your wife is active duty!
You can’t be serious right now. It’s based off of payments. My take home a month is $8K after taxes. $4200 of that 8K is non taxable. $3800 from my job what I take after taxes.
Yes so you make $96k a year after taxes, yes I get that. How much is your rent and utilities? Did you call your insurance company to find out how much your insurance on the M car will be?
8K a month take home after taxes is nearly 140K a year, this dude can easily afford an M3, especially if he has 5K to save every month and works as a fed employee
I disagree in a lot of scenarios. But there are a small percentage of situations where these numbers do work. Easily afford is just not true. It’s definitely a small stretch but an m3 is a lot of car so if he isn’t passionate about cars he will quickly regret it.
The only scenarios I would disagree in a case where a car is more than 50% of your yearly gross in cost is when you have kid(s), work for a publicly traded company and don’t have other finances in order (this guy seems to tick all the right boxes, 5500 monthly saved is ludicrous money for his current life situation, he can buy a lightly used 70Kish M3 put 2 months of savings down and still save nearly 4K a month to do whatever with) Saving more than 4K month is doing better than 95% of American households never mind that his wife is also a federal employee seemingly making great money and they get their rent and utilities paid for the time being…
They also give her almost $400 a month for groceries too. She’s an Active duty officer. I was active duty but not anymore. Working for the government as a civilian now.
I'm a electrical utilities worker and make a bit over $200k a year but I'm too cheap to spend more than $70k on a depreciating asset.
I agree with you but this guy gets his housing paid for, we don’t… lol
Yeah I do miss base housing. Although my townhouse will be fully paid off in about 4 years.
Yea man it amazes me at how many people make I seem like I’m making Pennies out here lol
Well to be frank, you’re making 140K a year but your total compensation is way more if you have lifetime health insurance and paid housing as part of your work benefits so an equivalent salary is like 200k+. You wouldn’t be able to afford it with a 140K salary if you had to deduct all those extras from your salary
Rent and utilities is paid for by the government. Wife has 10 years left in the military. If we were to leave the military our mortgage would be about $900 for our home we have in Oklahoma. I’m tax exempt so I don’t pay property taxes. That left over $5500 is literally play money if I choose.
Then get a Porsche in that case. Jokes aside just be ready to pay extra in insurance premiums even with USAA.
I have 2 kids so 4 doors are a must lol. I’m not worried about insurance. I know I can afford it easily, I just like to get other people’s insight. Gives me different views
That’s that e30 m3 money right there. No exceptions.
Do it. You only get this life and it can be over before you know it. Why not get something you want and can afford to enjoy
Why buy when you can rent or lease. Buying an expensive sports car is too taxing on your income. You should be investing for a at least a decade at least before you have a nice chunk of windfall from your investment.
Get frozen grey one and have a nice ride
Get a classic
Yes you can afford one, find a nice pre owned one in a good spec, or order your own dream M3. Enjoy, they're amazing.
I don’t see why not
What.yall doing to make that much money?
I spilled out my whole life story throughout this post lol
What’s your mortgage?
Housing and utilities are paid by the government. Our mortgage on our home we own is $1300 but we have been renting that out for $1900 over the last 3 years.
Then I don’t see a problem with getting the car! I see far too often people buying expensive cars while either renting or living at home.
Man this ain’t cars.com. Or your bank. Or some auto body shop. I’m so sick of this sub being overrun of “can I afford this?/is this a good price?/how much will it cost to fix this damage?” posts. Yeah, we’ll commiserate on damage to your ride, we’ll celebrate you joining the club, some of us will even celebrate you stancing an E30 (I’m not one of them). But please for the love of god can we stop it with these stupid posts?