BMW 1 Series Coupe Forum / 1 Series Convertible Forum (1M / tii / 135i / 128i / Coupe / Cabrio / Hatchback) (BMW E82 E88 128i 130i 135i)
 





 

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      12-10-2012, 12:53 PM   #23
Focusedintntions
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For me it's about 20% for my 135 and my S4 for both insurance, gas and payments. Do i really need an S4 and a 135? not probably not, but i'm a single guy with my own house, 2 car garage, and no kids....why not have fun while I can? I go to a track weekend every month from March to November and spend plenty of money on mods
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      12-10-2012, 01:08 PM   #24
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i'm looking at 37% monthly for payment, insurance and keeping tank full. just graduated college last week and live at parents house. currently debating between 3 different offers that roughly doubles income. can't wait to cut the percentage way down and use the difference on parts i don't need!
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      12-10-2012, 01:13 PM   #25
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Wow - some of these results are shocking. No judgment of others but it's just not the way I handle my finances. I didn't spend this kind of money on a car (and I do love cars) until my kids were out of college. This is my first BMW and I paid cash. You set priorities and make choices accordingly.
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      12-10-2012, 01:22 PM   #26
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My kids graduated college (both of them) 2 years before I bought my first bimmer.

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      12-10-2012, 01:24 PM   #27
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My rule of thumb is that whatever my car payment is, and or any toys I decide to buy have to save 50% of the value I just spent, and put it into an investment account or 401k.

For example, my 135i payment is 412/month insurance is 130. I force myself to invest or add to my investment accounts a total amount of about 300 a month.

I just built the ultimate gaming computer, cost me 2.5k, I have connections.

This way I spend to my heart’s content and the more I spend the happier I am, for both Future Christian and I

Oh and I am 23, I have NO responsibilities at all its nice, car was about 50% of my income and about 16% of my monthly income, excluding gas.

Last edited by ChristianReyess; 12-10-2012 at 01:36 PM.
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      12-10-2012, 01:39 PM   #28
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Quote:
Originally Posted by Focusedintntions View Post
For me it's about 20% for my 135 and my S4 for both insurance, gas and payments. Do i really need an S4 and a 135? not probably not, but i'm a single guy with my own house, 2 car garage, and no kids....why not have fun while I can? I go to a track weekend every month from March to November and spend plenty of money on mods
BOSS. This is where I want to be eventually
:happy anim:
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      12-10-2012, 02:06 PM   #29
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Quote:
Originally Posted by Focusedintntions View Post
For me it's about 20% for my 135 and my S4 for both insurance, gas and payments. Do i really need an S4 and a 135? not probably not, but i'm a single guy with my own house, 2 car garage, and no kids....why not have fun while I can? I go to a track weekend every month from March to November and spend plenty of money on mods
living the dream
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      12-10-2012, 02:11 PM   #30
ejm3
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I suspect the buyers of the 1-series tend to be younger without obligations like big mortgage payments, kids college tuition, retirement funding, etc.

That's why the percentage of income spent on cars is relatively high.
When I was right out of college I spent a relatively high percentage of my income on my car too. But I lived at home and had no other expenses except my car and beer money so it was no big deal. Now I wouldn't think of spending even 20% of our income on cars and I don't even have kids.

I'm sure if you ask this question over in the 5 or 7-series forums you'll get differenrt answers.
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      12-10-2012, 07:25 PM   #31
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25.3% it's only slighty cheaper than rent. The car and rent account for about 55% of my take home...but hey, you can sleep in your car, you can't run your house through the twistys.

Single guy, no kids, 28, basic bills and some CC debt from younger years.
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      12-10-2012, 07:27 PM   #32
Spoolin Montego
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Insurance and car payment is about 25% of my month expenditures.
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      12-11-2012, 01:52 PM   #33
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Quote:
Originally Posted by Focusedintntions View Post
Do i really need an S4 and a 135? not probably not, but i'm a single guy with my own house, 2 car garage, and no kids....why not have fun while I can?
I'm in the same boat, and I totaly agree. When I was still making payments on the 135, I was at 14% of my gross, which is also including the gas and insurance for all three of my cars (note that the other two cars were paid off). Now that I no longer have any car payments, the gas and insurance for all three comes to about 4% of my gross.
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      12-11-2012, 10:47 PM   #34
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16% for our three bimmers. Loans, insurance and gas.

Didn't know this "rule of thumb" but sounds like I am almost compliant :-)
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      12-12-2012, 07:55 AM   #35
Bluelady
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I'm at 22% for loan and running costs a 135 in Australia optioned up is $108k
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      12-12-2012, 03:24 PM   #36
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I'm at 33%. Damn good topic to bring up.
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      12-12-2012, 07:50 PM   #37
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Hmm let's see...per month I'd estimate:

$70 insurance
$200 gas
$300 mods, track days, etc.
-------------
$570 total

$570/($68000/12) = 10%

Luckily my car is paid off, otherwise I have no idea how you could afford less than 15% unless you don't mod at all, make a good buck, and don't drive much. But what's the fun in that?
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      12-13-2012, 12:09 PM   #38
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Love the conversation people! Let's keep it going!
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      12-13-2012, 10:25 PM   #39
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I look at this car as a sport/luxury bargain. I bought used (6k miles, 11 mo old, for over 15k off sticker) so the depreciation is reasonable, so it's just 90/mo insurance and 250 on gas.

with this we are well in the single digits even figuring 200/mo depreciation that's total 500/month (i do know i should calculate lost investment income, but i need a car). I'm married, no kids, just a very good job and a reasonable mortgage. I could absolutely afford something crazy, even exotic, but I hate to spend/lose a lot of money on my cars; so to me this 1 makes great sense or is that cents...

Joe
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      12-14-2012, 10:42 AM   #40
KrisM3
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8-9% but then again I'm lucky enough to work < 1 mile from my house so gas overall is very low, counting my income only. Engaged but not yet married.
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      12-14-2012, 02:02 PM   #41
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20%
This includes payments for the 1er. Insurance and gas for the 1 and the GTI.

Work is <1 mile. 23 and living at home. School loans are done. Saving up now within a year from now to have more than enough to buy the 1 from its residual. Then I am a completely free man. Can't wait till that day.

Knock on wood.
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      12-16-2012, 09:11 AM   #42
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The question is, are you putting money aside for rainy day/retirement/ investment? If not, then cut expenses somewhere!
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      12-16-2012, 09:53 AM   #43
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Is that a question to me or to everyone? Lol.

If it's to me then yes. The rest of the 70% I put directly into savings. This is money that I don't touch until many years from now. The leftover ten percent is used for fun.
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      12-16-2012, 01:36 PM   #44
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I'm just under 15%. Didn't count gas, I always pay for gas with tip money that doesn't get counted into my income. It feels like a lot to spend on transportation, but my wife's income goes all to student loans/retirement and my income covers everything else.
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