****New M3 annual income poll****

Voltigeur · 02-06-2008, 12:50 PM

Quote:

Originally Posted by lucid

This is pretty funny actually. I knew it would come to this!

+1

I wouldn't even be looking at this car unless the income level made sense

Voltigeur · 02-06-2008, 12:53 PM

Quote:

Originally Posted by ajminn

the funniest part would be that my car payments would be more than our mortgage payments.

+1 to this too

Phoenix 21st · 02-06-2008, 01:01 PM

with salary $150k or more why are u not looking to buy it rather than rent it?

ajminn · 02-06-2008, 01:02 PM

housing is pretty dirt cheap in the south. and the fact that i'd be financing a majority of it.... hopefully interest rates start falling. i thought the financing rates were tied to the prime rate?

Voltigeur · 02-06-2008, 01:02 PM

Quote:

Originally Posted by Phoenix 21st

with salary $150k or more why are u not looking to buy it rather than rent it?

Make money on the spread b/w financing carry cost and the alternative use of cash, ie investment.

W/ fed easing my rate will be sub 6%, with stocks selling at 14x I'd rather invest over a 3-year horizon. The div yield on my portfolio is ~3%. So I only need to expect ~ 300 bps of price return for next 3 years (annualized basis) for financing to make sense. That's a trade I'll take.

carnuts3 · 02-06-2008, 01:09 PM

Quote:

Originally Posted by ajminn

my laziness was referring more to doing research as to whether or not paying $1300/month in payments for 5 years would be worth it.

Not sure what you would be researching, other than searching for a less expensive alternative to end up with lower payments - or maybe no payments. The problem is anything close to the M3 in perf and handling will cost - might save $3-400/mo in payments. But your point is well taken - spending $1300/mo every month for 5 years and ending up with a 5 yr old car is a serious decision, regardless of your income. Maybe leasing for 3 yrs for the same mo cost and turning the car in for a new one in a shorter time would "feel" better. That would be my choice, not because I would save any money (I wouldn't), but because I want to drive around in a "newer" car - but that's just me.

TheBry · 02-06-2008, 01:11 PM

Even though the thread starter specifies e90/e92 M3's, I'm voting in this poll. I'm in the market for an e93 M3.

And, for the record, Sr. Marketing Manager for major tech company. Annual income $143K not including bonuses. Since the bonuses aren't always a sure thing, and fluctuate from quarter to quarter, I placed my vote in the $110K - $150K bracket.

I'm surprised at the number of <$50K members here, with all the talk of buying $70K+ cars. How is that possible?

Phoenix 21st · 02-06-2008, 01:15 PM

with global markets the way they are at the minute i would not bank on stocks. Definately not in the US.

nusevad · 02-06-2008, 01:17 PM

Quote:

Originally Posted by TheBry

I'm surprised at the number of <$50K members here, with all the talk of buying $70K+ cars. How is that possible?

Quote:

Originally Posted by Robbie

Saving and living dirt cheap

and

Quote:

Originally Posted by sayemthree

you live at home with mom and dad for free.

jaiman · 02-06-2008, 01:23 PM

Quote:

Originally Posted by Phoenix 21st

with salary $150k or more why are u not looking to buy it rather than rent it?

Way too blanket a statement. The next car I drive will be a lease for a few reasons, but one of the major ones is that in Canada, due to the strength of our dollar, used car prices are plunging and I'd rather let the car company take the risk.

Also I think I'm better off long run having a lower monthly payment and saving more money. As an example in Canada we have RRSP's which are retirement saving account. I think the US equivalent is an IRA, anyway any deposits I make to the RRSP decrease my income in that tax year.

So lets say I lease an M3 rather than finance it. My payments are roughly 1400 per month vs 2300 for finance (both 48 months, 7% interest, 39% residual on the lease, car cost 85k CAD). The difference gets invested in an RRSP, along with the tax refund I get at the end of the year. After 4 years, assuming 10% return, I return the leaser and have 70k ish in my RRSP. If i bought the car, I sell it and get 40k, maybe 50k.

Now, the important thing to remember is that over any 4 year lease I may not hit that 10% return, but over my lifetime, doing this repeatedly, I expect to come out way ahead.

As for paying cash up front, it makes more sense to invest the money and carry a lease payment, than to pay upfront and try to invest monthly.

GS997S · 02-06-2008, 01:25 PM

I plan to steal mine.

Los Angeles · 02-06-2008, 01:27 PM

It doesn't suprise me that over $150k is the most voted.

I'm sure if there was an over $700k option, that would probably be most voted as well.

I'm not trying to discredit the types of incomes these people have, it's just not suprising the highest bracket is most polled.

"- Whatever happened to Honesty?
- I think he died last year with Compassion."

nusevad · 02-06-2008, 01:31 PM

Quote:

Originally Posted by Los Angeles

It doesn't suprise me that over $150k is the most voted.

I'm sure if there was an over $700k option, that would probably be most voted as well.

I'm not trying to discredit the types of incomes these people have, it's just not suprising the highest bracket is most polled.

"- Whatever happened to Honesty?
- I think he died last year with Compassion."

Just imagine if it was a public poll.

Epacy · 02-06-2008, 01:33 PM

I'm not front'n, I make $17k a year.

nusevad · 02-06-2008, 01:36 PM

Quote:

Originally Posted by Epacy

I'm not front'n, I make $17k a year.

liar

Hans Delbruck · 02-06-2008, 03:38 PM

Quote:

Originally Posted by jtown

If you were faced with the choice of saving money to move out of mommy and daddy's house VS buying a new car the answer should be obvious. You may pimp an M3, but you have to tell the ladies you live at home. Big LOL if you ask me.

This poll reveals a couple of things to me....

-Some M3 "buyers" who live at home are stating their combined household income (including mommy and daddy)

-The "consumer" economy that ignited in the 80's is here to stay. I just wonder how people who really don't make any money, are going to continue their "keep up with the joneses" charade. Oh and how is today's generation of "i want it, and i want it now's" going to retire on nothing...

I'm not blaming anyone for living that way -- it's just the current mentality in American society.... short-sightedness and self-centeredness permeate everything...

lucid · 02-06-2008, 03:41 PM

Quote:

Originally Posted by Hans Delbruck

-The "consumer" economy that ignited in the 80's is here to stay. I just wonder how people who really don't make any money, are going to continue their "keep up with the joneses" charade. Oh and how is today's generation of "i want it, and i want it now's" going to retire on nothing...

I'm not blaming anyone for living that way -- it's just the current mentality in American society.... short-sightedness and self-centeredness permeate everything...

It's not just the consumer. It's also the government!

Hans Delbruck · 02-06-2008, 03:45 PM

Quote:

Originally Posted by lucid

It's not just the consumer. It's also the government!

It's Greenspan's fault...... !

nusevad · 02-06-2008, 03:48 PM

Quote:

Originally Posted by Hans Delbruck

It's Greenspan's fault...... !

hehe Irrational Exuberance...

lucid · 02-06-2008, 03:48 PM

Quote:

Originally Posted by Hans Delbruck

It's Greenspan's fault...... !

They're doing it again!

nusevad · 02-06-2008, 03:51 PM

Quote:

Originally Posted by lucid

They're doing it again!

Ugh, dont remind me...

Hans Delbruck · 02-06-2008, 03:57 PM

Let's see... we blew up and busted the stock market, we blew up and busted (hang on!) the housing market... when's the next gravy train coming along? oh wait, there isn't one...................

View Poll Results: As a new M3 buyer, my annual income is...
sub $50,000	33	9.68%
$50-65k	25	7.33%
$65-80k	35	10.26%
$80-90k	16	4.69%
$90-110k	29	8.50%
$110-150k	49	14.37%
more than $150k	154	45.16%
Voters: 341. You may not vote on this poll

02-06-2008, 01:01 PM	#47
Phoenix 21st First Lieutenant 20 Rep 325 Posts Drives: E92 M3 M-dct SG Join Date: Jan 2007 Location: London iTrader: (0)	with salary $150k or more why are u not looking to buy it rather than rent it?
	Appreciate 0 Quote

02-06-2008, 01:02 PM	#48
ajminn Private 10 Rep 66 Posts Drives: e90 m3 Join Date: Apr 2007 Location: NC iTrader: (0)	housing is pretty dirt cheap in the south. and the fact that i'd be financing a majority of it.... hopefully interest rates start falling. i thought the financing rates were tied to the prime rate?
	Appreciate 0 Quote

02-06-2008, 01:11 PM	#51
TheBry Major 144 Rep 1,020 Posts Drives: 2016 G12 750i xDrive Join Date: Sep 2007 Location: San Francisco, California iTrader: (0)	What about e93? Even though the thread starter specifies e90/e92 M3's, I'm voting in this poll. I'm in the market for an e93 M3. And, for the record, Sr. Marketing Manager for major tech company. Annual income $143K not including bonuses. Since the bonuses aren't always a sure thing, and fluctuate from quarter to quarter, I placed my vote in the $110K - $150K bracket. I'm surprised at the number of <$50K members here, with all the talk of buying $70K+ cars. How is that possible?
	Appreciate 0 Quote

02-06-2008, 01:15 PM	#52
Phoenix 21st First Lieutenant 20 Rep 325 Posts Drives: E92 M3 M-dct SG Join Date: Jan 2007 Location: London iTrader: (0)	with global markets the way they are at the minute i would not bank on stocks. Definately not in the US.
	Appreciate 0 Quote

02-06-2008, 01:25 PM	#55
GS997S Private 3 Rep 91 Posts Drives: 2007 997S Join Date: Jan 2008 Location: Back in the Rumble iTrader: (0)	I plan to steal mine.
	Appreciate 0 Quote

02-06-2008, 01:27 PM	#56
Los Angeles Steve Forte Rio 153 Rep 2,392 Posts Drives: 08' 328i Join Date: Aug 2007 Location: 90036 iTrader: (0)	It doesn't suprise me that over $150k is the most voted. I'm sure if there was an over $700k option, that would probably be most voted as well. I'm not trying to discredit the types of incomes these people have, it's just not suprising the highest bracket is most polled. "- Whatever happened to Honesty? - I think he died last year with Compassion."
	Appreciate 0 Quote

02-06-2008, 01:33 PM	#58
Epacy Reincarnated 249 Rep 4,225 Posts Drives: 02 Maxima SE Join Date: Mar 2007 Location: IL iTrader: (0) Garage List 2008 M3 [0.00]	I'm not front'n, I make $17k a year. __________________ Pearl Bliss
	Appreciate 0 Quote

02-06-2008, 03:57 PM	#66
Hans Delbruck Major 79 Rep 1,288 Posts Drives: C63, 135i, Evo FE, GLE63 Join Date: May 2005 Location: Huntington Beach, CA iTrader: (0)	Let's see... we blew up and busted the stock market, we blew up and busted (hang on!) the housing market... when's the next gravy train coming along? oh wait, there isn't one...................
	Appreciate 0 Quote