[David70]

Originally Posted by Twixboy

I was just thinking of that, but it looks like Edmunds already took that into consideration. Cost of maintenance is about $1k more for the 320i even with 3 years free maintenance than it is for the Accord in years 1 thru 5 combined. Not much of a difference. The biggest difference in cost of ownership comes from depreciation, either through resale if you purchased it or through a lower residual if you leased it.

You got me. I'm just making general statements that may not apply to everyone, but that's why I still have a job. Everyone values things differently. For example I know someone who bought a CPO Merc S class right out of college and paid around $1500/mo in car payments while living rent-free at his parents house. Other people might prefer to spend that $1500/mo on an apartment in the city and ditch their car altogether.

In reference to the comment I made earlier, $200k does not go very far where I live in the Boston area. My household income is over $200k, but I still feel like I'm barely average around here because every other household has 2 parents earning 6-figures. I bet if I made $200k in Houston I could buy a new 3 series commuter along with a new Z4 for my weekend cruiser. So it really depends on where you live too. I should be the last person judging, but we all do it. And who cares, this is an anonymous forum anyways. People need to stop being so sensitive.

The $200k you originally said is just pulling a random number out of thin air without considering all the other inputs to figure out what is really needed. I hope to at some point have a part time job only and still be able to afford the $50k car (or the equivalent for the time period). Assets, income from assets, age, expenses, goals, expected inheritance, dependents, where you live, etc. all come into play and the $200k you believe people need may really be much higher (no savings and 60 years old) or lower (live in a rural area, have done a good job savings, low expenses, etc).

I have the money to buy a $50k car but haven't seen anything I thought was worth the money when comparing it the alternatives.

It does surprise me how upset some people seem to be based on your opinion.

[csu87]

Originally Posted by Ecu335i

The IRS will be very happy with this thread...

I tried to answer correctly, but there was no "Fucked" category. I hope the IRS will understand since they did it to me.

[Twixboy]

Originally Posted by David70

The $200k you originally said is just pulling a random number out of thin air without considering all the other inputs to figure out what is really needed. I hope to at some point have a part time job only and still be able to afford the $50k car (or the equivalent for the time period). Assets, income from assets, age, expenses, goals, expected inheritance, dependents, where you live, etc. all come into play and the $200k you believe people need may really be much higher (no savings and 60 years old) or lower (live in a rural area, have done a good job savings, low expenses, etc).

I have the money to buy a $50k car but haven't seen anything I thought was worth the money when comparing it the alternatives.

It does surprise me how upset some people seem to be based on your opinion.

Agreed, I did pull it out of thin air, loosely based on my own situation. As I later said everyone's situation is different, but I was talking about a typical mid-career W-2 employee with no trust fund or income-producing assets who lives in a high COL area (seems like many of us do live in either a CA or Northeast metro area). People were already upset about the topic before I chimed. Now they're even more upset because some of them probably know they really can't afford to drive a new BMW (or even a new Honda for that matter), but do it anyways to keep up with the Joneses. I'm just bringing this to the surface in an anonymous setting because it's rarely talked about in real life. It's a real problem in America and people like you and me are probably going to end up bailing everyone else out when the SSA can no longer meet its projected financial obligations in 15-20 years. I do have the same goals as you do to transition into part time consulting work and still maintain the same lifestyle. Sure I could buy a GT4 with cash if I wanted to, but I don't want to accelerate my lifestyle inflation before I even hit 40. I want to semi-retire early at some point, right?

[PoorLurker]

Originally Posted by David70

It does surprise me how upset People making less than $200k with a car greater than $50k seem to be based on your opinion.

FTFY

Originally Posted by Twixboy

I'm just bringing this to the surface in an anonymous setting because it's rarely talked about in real life. It's a real problem in America

You mean not everyone in Orange County makes $200k+? I do see a lot of BMWs everywhere. My friend's house cleaner even had a Land Rover LR4.

I agree that it is unfortunate that many friends aren't open with finances. Luckily, my friends and I are pretty aware of each other's finances. They are all pretty modest though. This helps keep me in check when I want to buy something "beyond my means" because I am the poorest and I know they wouldn't buy it, haha.

Then again, it's all about how people spend their money and to which category they put their money.

People all make 100% of what they make. It's how they divvy that percentage up. I know coworkers who spend a lot of monthly income on things I perceive as frivolous. I could do without toll fees, $15 lunches, daily Starbucks, etc to make my "bicycle pie" larger as bikes are a hobby I am passionate about. My seat post literally costs as much as a mountain bike from Walmart.

Also, some people live for today and don't want to settle.

[Mr Tonka]

PoorLurker
Dropper post i assume? Link? Wanna see this bad boy!

[David70]

Where you live can make a massive difference in your expenses and what you "should make" to afford a luxury car. I used to live in So Cal (Hermosa Beach), then moved back to TN (now OH). Going one to the other, equal size places, the TN apartment plus a reasonably priced new car = So Cal apartment only. Or, So Cal apartment + Civic probably was close to equal TN apartment + new BMW.

[Nkc]

Originally Posted by PoorLurker

FTFY



You mean not everyone in Orange County makes $200k+? I do see a lot of BMWs everywhere. My friend's house cleaner even had a Land Rover LR4.

I agree that it is unfortunate that many friends aren't open with finances. Luckily, my friends and I are pretty aware of each other's finances. They are all pretty modest though. This helps keep me in check when I want to buy something "beyond my means" because I am the poorest and I know they wouldn't buy it, haha.

Then again, it's all about how people spend their money and to which category they put their money.

People all make 100% of what they make. It's how they divvy that percentage up. I know coworkers who spend a lot of monthly income on things I perceive as frivolous. I could do without toll fees, $15 lunches, daily Starbucks, etc to make my "bicycle pie" larger as bikes are a hobby I am passionate about. My seat post literally costs as much as a mountain bike from Walmart.

Also, some people live for today and don't want to settle.

There's a saying in Chinese, playing piano to a cow.

Folks are gonna spend whatever they spend on things until they can't. Don't forget how much the market gains with these people. You're thinking about bailing them out when shit hits, I see it as them keeping the economy afloat with consumerism.

[08njSTEP]

My favorite saying is it's not how much you make, but how much you spend that really matters.

[1MOREMOD]

Originally Posted by 08njSTEP

My favorite saying is it's not how much you make, but how much you spend that really matters.

So most people are fucked at any income level

[M3 Number 86]

I'm worth whatever mods I can part out. So not much.

[M3 Number 86]

Originally Posted by 08njSTEP

My favorite saying is it's not how much you make, but how much you spend that really matters.

This is America. Where everything is on credit!!

[1MOREMOD]

Originally Posted by M3 Number 86

I'm worth whatever mods I can part out. So not much.

Buy more car part- pro tip.

[M3 Number 86]

Originally Posted by 1MOREMOD

Buy more car part- pro tip.

spend $20k to be worth $12k - pro tip indeed.

[1MOREMOD]

It's my savings plan don't mess with it.

[silvergray545]

Originally Posted by M3 Number 86

spend $20k to be worth $12k - pro tip indeed.

Or buy used so $12k is still $12k. For a while, at least.

[PoorLurker]

Originally Posted by Mr Tonka

PoorLurker
Dropper post i assume? Link? Wanna see this bad boy!

Reverb Stealth 150mm - actually costs more than I thought, haha. (bought my bike as a package)

https://www.sram.com/rockshox/products/reverb-stealth

Originally Posted by David70

Where you live can make a massive difference in your expenses and what you "should make" to afford a luxury car. I used to live in So Cal (Hermosa Beach), then moved back to TN (now OH). Going one to the other, equal size places, the TN apartment plus a reasonably priced new car = So Cal apartment only. Or, So Cal apartment + Civic probably was close to equal TN apartment + new BMW.

That's true. Think about a doctor making $250k in an area where his MD and JD friends live on a lake in a country club for $300-400k. He has quite the disposable income.

Now think about a dual income family in So. Cal making $250k having to have two parents working while paying $750k for a house and another $1500-2000 per month in child care.

Originally Posted by Nkc

There's a saying in Chinese, playing piano to a cow.

Folks are gonna spend whatever they spend on things until they can't. Don't forget how much the market gains with these people. You're thinking about bailing them out when shit hits, I see it as them keeping the economy afloat with consumerism.

Keep the economy afloat with consumerism is quite the silver lining. I agree that if everyone saved all of their money, then people wouldn't buy anything creating a bad situation. I am one for moderation. Yes, I will skimp out on many purchases. Example, I would rather starve than pay money for Panera. However, I did pay a pretty penny for a pair of sneakers at the local boutique shop. Now, let me get back to my Honey Caramelized vent frappe,haha

Originally Posted by 08njSTEP

My favorite saying is it's not how much you make, but how much you spend that really matters.

Sounds like something poor people say. haha jk

I agree with it though. However, the more money you make, the less percentage you need to live off.

[PoorLurker]

Originally Posted by silvergray545

Or buy used so $12k is still $12k. For a while, at least.

or be patient and find people who always need the latest and greatest, befriend them, and then get hooked up for $10k because they need money now to fund their next toy. Use that item for a while and possibly sell for a profit.

[jtodd_fl]

Originally Posted by PoorLurker

or be patient and find people who always need the latest and greatest, befriend them, and then get hooked up for $10k because they need money now to fund their next toy. Use that item for a while and possibly sell for a profit.

What's phase 2?

[PoorLurker]

Originally Posted by jtodd_fl

What's phase 2?

Phase 2 is always to take profit and bet red.

You either get to skip your friends next version or you have to start back at square one.

Once you get a streak of hitting red 3 times, you have essentially made unprecedented returns that any hedge fund manager would be jealous of.

[silvergray545]

Originally Posted by PoorLurker

or be patient and find people who always need the latest and greatest, befriend them, and then get hooked up for $10k because they need money now to fund their next toy. Use that item for a while and possibly sell for a profit.

I like this idea.

[csu87]

Originally Posted by PoorLurker

Phase 2 is always to take profit and bet red.

You either get to skip your friends next version or you have to start back at square one.

Once you get a streak of hitting red 3 times, you have essentially made unprecedented returns that any hedge fund manager would be jealous of.

problem with phase 2 is those goddam sneaky hookers at the door to the casino. get ya everytime.

[PoorLurker]

can't appreciate/acknowledge that comment in case big sister is watching, hahaha