135i has to Wait.

[jkp1187]

man, you guys make it seem like i'm in 20k in debt!?!?! i just have like 3k to pay off, and my first post i said i have it paid off in like two months. i do have a savings and a 401k that i put money in every month that i dont touch..

Doesn't matter. Whatever it is, pay it off first, and don't accumulate new debt in the meantime. And it does sound like you have your financial house in order, but personally, I'd prefer to have at least a 20% down payment before buying a car that's going to be a minimum of $37k (for a stripped car + tax/title) out the door. In fact, I'd probably prefer to put more like 40% down just so I don't piss away too much on interest on the loan while I'm paying it off. (But that's just me, and I'm a bit conservative when it comes to spending money).

Oh and good job on the Honda -- there is definitely something to be said for the pride of having done all the work yourself....but, in the past, I've managed to get over it and pay someone else for the tough jobs, too. :thumbup:

[Steve135i]

Whatever makes you happy, thats the most important thing. If you were rich but unhappy no money would help.

Payoff your debt. Save for a decent down payment, get a budget setup with your girlfriend and GO BUY THE 135i.

DON'T WORRY, BE HAPPY !!!

[imported_Stu]

If I just got the financial legs to move out of my mom's house, my first thought isn't a new BMW.

That being said: save save SAVE for a huge down payment.

[six-n-twins]

what's the big deal with me renting with my girlfriend? we been living together for almost two years!



It has nothing to do with whom you rent. Its the fact that you rent.
Obviously this is only one opinion, and you have to do what you feel is right..... I wouldn't be considering a 40k car without all finances in order. This includes not paying rent. Nor would I consider a car whose MSRP was nearly my annual salary.

I always find it alittle weird when I see people living in apartments with hummers and bimmers. I'm not trying to be a hater. I was a young guy with a car that I couldn't afford. It made for some rough times.

[BJDrew]

$5k in mods on a car is probably over 10% of your gross income in a year.

Between fuel, insurance, depreciation, payments, and (because you know you will spend a lot of cash mods) purchasing toys for your car - you will likely be spending more on the car than you're saving each month.

It is your money and lifestyle choice for certain - but a car is not an investment. If you get a car that taps that much of your income, it's important to understand what you're losing to do that.


When I was making $50k, I was saving for a downpayment on a home, dumping money into my retirement fund, and driving a beater. Now I have that home, save good money each month and can afford my 1.

[Alpine135]

I took advantage of BMW's 0.9 APR and i think they have something like 2.9 now and 0.9 again but only for the 328i depends also on where you live and how good your credit rating is.

[JB135i]

Originally Posted by BJDrew

$5k in mods on a car is probably over 10% of your gross income in a year.

Between fuel, insurance, depreciation, payments, and (because you know you will spend a lot of cash mods) purchasing toys for your car - you will likely be spending more on the car than you're saving each month.

It is your money and lifestyle choice for certain - but a car is not an investment. If you get a car that taps that much of your income, it's important to understand what you're losing to do that.


When I was making $50k, I was saving for a downpayment on a home, dumping money into my retirement fund, and driving a beater. Now I have that home, save good money each month and can afford my 1.

+1 on this. Before I would consider dropping this amount on a car I would worry about owning my own home. UNLESS your job/business is likely to move you around. Then renting is SOMETIMES best, like right now it would be...

I am one that believes that you can't take it with you, but IMO, and you asked, is you are young, impatient and heading for trouble again.

How long will it be after you get the 1-series before you are looking at the N54 section and saying to yourself "Wow that JB3 would sure rock" or "man those wheels would look sweet"? My guess is NOT long, and the whole cycle begins again.

If you are smart now, while you are young and capable of working your ass off, it will pay off later. Time value of money anyone?!?!?

Istead of worrying about Accords and 135's you will be deciding between Lambo's and Ferrari's.

Be smart...

[syenisch]

Keep your Accord and save up man. I'm in a similar situation age and income wise (23 yrs old, $58k/yr) and will be taking delivery of my 135i 4 weeks from today. The difference is that I have saved up significantly and am only financing $15k. My car payments aren't going to dictate my financial life. My monthly payment is paid for from 2 days of work. I'll have plenty of money on the side to start saving for a house, hopefully before the market moves back up significantly (if it does!). If what you've got now isn't reliable and is a money pit (not from mods... STOP doing that, put your Accord back to stock or buy a similar car that is reliable. You have a good income - save for another 8 months to a year and you'll be in a much better financial situation.

[AchtungF80]

Holy Old Thread Batman!

[TP 135i]

SOOOOOOOOOO??????
What is the status ???
The last post from the OP was about 7 months ago.

You can't start a thread like this without keeping us up to date !

[boostin]

you could pick up an 08 with like 5k miles for like 35K now - thats what i plan on doing!

[pdxlager]

Originally Posted by TP 135i

SOOOOOOOOOO??????
What is the status ???
The last post from the OP was about 7 months ago.

You can't start a thread like this without keeping us up to date !

Given what has happened in the last 7 months? Hopefully the kid still has his $50K/year gig.

[bmwzone]

Mine's 4 sale. 45k cash. Crimson Red 135i Manual Coupes defy the economy and go up in value.