[Kevin__]

Originally Posted by jmg

Before or after taxes? What's your debt:income ratio? Do you have any investments? Appreciating assets? 6 months of savings in the bank? When I was making $120k/yr before taxes I didn't drive an $80k car because I had a mortgage, I was contributing to my ROTH IRA, I was paying off all my debt and I was living life going on vacations. Can you technically make the payments? Sure. But you know what...



Not to be a dick, but this guy is a loser. Sure, he's got an M5... but i'm sure that's about it. You know the difference between winners and losers? Winners have what you want... their dream car, but they have other things too: a house, an investment portfolio, a retirement fund, extra cash to go on dope vacations, disposable income to not worry about how much the dinner check is, the ability to drop $1000 a month on a hobby, the ability to payback everything their parents did in the past by being the treater instead of the moocher. They don't live with their parents. Their houses are actually bigger than their parents. They treat their parents every single time they go out. They buy their parents cars, they pay for their parents to go on vacation with the family.

Can you do that and still afford an M3? If so... go right ahead. But if you're barely making $5k a month, come on dude, get real. If you had a house that was almost paid off and that was appreciating in value, if you had a good sized retirement fund, if you had very low debt I would say MAYBE, but you aren't even out of the nest yet. You have no assets, no experience in being financially independent, you lack the ability to support anyone but yourself (barely), and no business driving a $80k car. If I met you in public and we started talking about our M3s and I found out that you live at home making $60k/yr, I'd probably try my very hardest to be polite on the surface and not say anything disparaging. I'd be very, very polite.

What's a good DTI? then since you seem to know all about that as I don't right now because I don't have much bills. Like I said I will be waiting till prob the end of next year just letting things play out right now and focusing on the bigger picture. As I know realize 5k a month isn't enough.

[jmg]

Originally Posted by Kevin__

What's a good DTI? then since you seem to know all about that as I don't right now because I don't have much bills. Like I said I will be waiting till prob the end of next year just letting things play out right now and focusing on the bigger picture. As I know realize 5k a month isn't enough.

Lenders like no more than 36% debt to income.

Also, the general consensus is no more than 20% of your monthly gross income should be allocated for you car. Personally, I think that's high and I pay less than 10%.

[sirdaft1]

Originally Posted by Maynard

I think this is a backhand troll for some shady internet pyramid scheme - OP keeps plugging how much he makes online, working part time. Bet he is running this for the backchannel referrals. Or perhaps I just can't really face the horror of somebody who doesn't put 'get a place of my own' at the top of their list.

I was thinking the same exact thing

[Delta0311]

Claims to make $10 to $12k a month, working on the "internet" and he's 17... Claims that his friend bought a M5 and he works at a supermarket. This is some solid gold shit right here.. Keep them gems coming kid..

[Delta0311]

Originally Posted by jmg

Lenders like no more than 36% debt to income.

Also, the general consensus is no more than 20% of your monthly gross income should be allocated for you car. Personally, I think that's high and I pay less than 10%.

HAHAHAHAH spot fucking on. Dude is claiming $10-$12k a month but can't move out of his parents house? I really do love the fantasy lives some of these kids have.

[Delta0311]

He's one of those dudes all over Youtube and article message boards that creates posts like this
"My cousin makes $15k a month on the internet. Find out how.. click here".


Kevin is a dick.. He's got this sweet "internet" gig while his buddy is making ends meet by pushing carts at the supermarket. I mean damn dude cut your boy in on this scheme.
And his buddy must be getting some sweet ass tips from carrying groceries out if he can afford a M5 on a supermarket attendants salary. His hand jobs must be fucking top notch; probably has those silky smooth hands.

[Taskmaster]

Save up, buy a house.

[Torgus]

Originally Posted by Delta0311

He's one of those dudes all over Youtube and article message boards that creates posts like this
"My cousin makes $15k a month on the internet. Find out how.. click here".


Kevin is a dick.. He's got this sweet "internet" gig while his buddy is making ends meet by pushing carts at the supermarket. I mean damn dude cut your boy in on this scheme.
And his buddy must be getting some sweet ass tips from carrying groceries out if he can afford a M5 on a supermarket attendants salary. His hand jobs must be fucking top notch; probably has those silky smooth hands.

I prefer rough hands, need some friction, not city hands that are soft from counting money all day.

[Kevin__]

Originally Posted by jmg

Lenders like no more than 36% debt to income.

Also, the general consensus is no more than 20% of your monthly gross income should be allocated for you car. Personally, I think that's high and I pay less than 10%.

Thanks for the advice really appreciate it if anything a 340i will do for the time being.

[Kevin__]

Originally Posted by TheAxiom

Save up, buy a house.

Not in a rush for that maybe when I have kids but apartment for now is the plan.

[Taskmaster]

Originally Posted by Kevin__

Not in a rush for that maybe when I have kids but apartment for now is the plan.

Why, it's almost the same cost, plus equity.

[Kevin__]

Originally Posted by TheAxiom

Why, it's almost the same cost, plus equity.

Mom was telling me you're paying for more stuff than an apartment. I think she said like water, the power etc the little things lol.

[jmg]

Originally Posted by Kevin__

Mom was telling me you're paying for more stuff than an apartment. I think she said like water, the power etc the little things lol.

If you didn't already know that then you got a problem.

[Delta0311]

Originally Posted by jmg

If you didn't already know that then you got a problem.

Oh I was say multiple problems. Like the inability to not bs.

[Kevin__]

Originally Posted by jmg

If you didn't already know that then you got a problem.

I had a clue but wasn't sure, but I'm getting an apartment first before a house so that's less to pay.

[Delta0311]

Originally Posted by Kevin__

I had a clue but wasn't sure, but I'm getting an apartment first before a house so that's less to pay.

Every rent payment is money pissed down the toilet. Stay at home and raise 20%, hell of a lot easier to raise that kind of dough when you're living at home.

[Ali Shiralian]

Kevin, I left my parents house when I was 17. I put myself through university and worked at the same time. Lived on a bed that I bought from Salvation Army for 20 bucks for two years and had kraft dinner all the way to graduation. When I got my first job, which was good paying at the time, saved up a little money but I had a great dilemma. What to do with the saved money? My foolish heart was adamant about buying a Nissan 300z which I loved at the time but my brain forced me to invest that money into a joint venture. I was 23 at the time. I'm fifty years old now and have expanded that same business into a chain of restaurants which I collect royalty from every week. Now I buy any car that I want but I also own houses, boats, motorcycles etc.. the decision is easy, move out and be on your own then use your god given brain to put yourself in the right track. Cars and other material things will follow...

[ASAP]

Originally Posted by Delta0311

Every rent payment is money pissed down the toilet. Stay at home and raise 20%, hell of a lot easier to raise that kind of dough when you're living at home.

Assuming you live in a very expensive housing market currently experiencing a bubble... I am not sure renting is a worse option... then factor the dump u could take soon on depreciation, interest payments, taxes and the fact that you tie yourself up... i think its a new era and most calculation for a lot of people are not one for one.

[Kevin__]

The adult life is hitting me 😩

[jmg]

Originally Posted by Kevin__

The adult life is hitting me 😩

You're 20. You don't know shit yet because you haven't done shit. When you leave the nest, you'll learn.

[Axius]

The adult life.

[PoorLurker]

Originally Posted by jmg

Lenders like no more than 36% debt to income.

Also, the general consensus is no more than 20% of your monthly gross income should be allocated for you car. Personally, I think that's high and I pay less than 10%.

I just calculated 20% of household gross and could not fathom spending that much on a car. Having a car in the garage that's more than my mortgage? I would feel bougie like no other... I would seem like a huge financial disaster. Then, all would be forgotten when I look in the garage and drool over my car. OMG! I just realized that 20% of my household income isn't even that nice of a car!

10% of my household gross on a single car payment? I FREAKING WISH! Wife would never let that happen. I would love for her to let me though. Oh the dreams of having a nice car.

Originally Posted by Delta0311

HAHAHAHAH spot fucking on. Dude is claiming $10-$12k a month but can't move out of his parents house? I really do love the fantasy lives some of these kids have.

Originally Posted by Delta0311

Claims to make $10 to $12k a month, working on the "internet" and he's 17... Claims that his friend bought a M5 and he works at a supermarket. This is some solid gold shit right here.. Keep them gems coming kid..

He will be making $10-12k if his second business is as successful.

I feel like Kevin is a troll because he used "DTI" Too lazy to search to see if this acronym was stated previously. Or he has actually been doing some research.