08-22-2023, 11:07 PM | #221 |
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08-22-2023, 11:53 PM | #222 | ||
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08-23-2023, 08:03 AM | #223 | |
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Anyway. The average new car in America is about $50k. Am I saying any of this is good or right? No. Shit is fucked. Just look around everything is fucked. But, in terms of relative value compared against its competitors IN THIS FUCKED MARKET… I’d say the m3 is a veritable bargain. I need a new pickup and I know that’s absolutely going to cost me $60k, minimum. |
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08-23-2023, 08:26 AM | #224 |
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Unfortunately it's not that simple. I remember when I was younger thinking if I made several hundred K id be in a lambo. Now, I spend 4k/mo on daycare alone for my two little ones...I still have an f80 because wife vetoed the g80 purchase :/
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08-23-2023, 10:58 AM | #225 |
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Dude, you should be upgrading the wife first. Then do the car.
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08-23-2023, 12:06 PM | #226 |
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Exactly. Also instead of having strangers raise your kids, have your wife do it and pocket the 4k.
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08-23-2023, 01:02 PM | #227 |
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Well at least you guys ain’t like Blind dipshit snobs who make you feel like a trash if your TC is anything below 450k a year, like, ‘hey what is wrong with you for putting up with a job that pays less than half a mil a year?!’ 🤣
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08-23-2023, 03:19 PM | #228 | |
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Having said that, it is true that the ratio is somewhat general when considering that there are many personal factors. But assuming that housing costs and other necessary debts/expenses were "within limits", this could apply (3:1 ratio). Ideally, a financially sound approach would be if the ratio of annual income to car purchase was 4:1, but I don't think most people would believe that...life is too short, right? And I'm not sure many people making $100k/year would "enjoy" being limited to a $25-30k car. Just my $0.02. |
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08-23-2023, 03:27 PM | #229 | |
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Spot on. But those who are making $100k/year and buying $100k cars are the ones who will work until they can't anymore. Once again, it is all situation dependent. If you're a trust fund kid making $100k a year, then who cares? But if you're just an average person and you make $100k/year, you SHOULD be buying cars in the $25-30k range if you wanted to be financially responsible. The thought process that "life is too short" is a really bad mentality. It's not to say you shouldn't enjoy life and the money you make, but with the average life expectancy of 77 years, one should think carefully about buying luxury cars at such a young age even at $100k salary. The compounding on that money over the span of someone's life is a very, very powerful thing. |
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08-23-2023, 03:32 PM | #230 | |
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I can't wait for my ride to arrive later this year. |
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08-23-2023, 05:00 PM | #231 | |
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Now take a person making 300K in his 40's. His take home pay is about 200K with a monthly income of $17000 roughly. Now you factor in wife, kids, 2-3 car payments, house payments, 401K retirement contribution and student loan payments for 2 people, vacations etc, you prob are left with the same $4000-5000 a month expendable income at the end of it that u save and the more you make, the more your spending becomes to keep up the "life style" and the fact that you CAN afford these esp those $10-15K vacations, send your kids to private school etc that your money that is left at the end of it is prob the same as a 25 yr old making $100K. I dont think everyone does this but its just human nature that the more you make, the more you can afford things and the more you spend. So in the end, unless you start saving all that you make and cut back a lot on ur expenses and live like u are making 100K on a 300K income, we all make bad financial decisions (me included) but it is human nature. So everyone's financial goals and decisions are purely based on their needs and wants. Cest La Vie |
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08-23-2023, 05:15 PM | #232 | ||
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People have not caught up to the reality of inflation. $100k is the new $50k. I’m not trolling here. That’s my reality. $100k is not a good salary anymore, imo. You can’t raise a family and have a nice life on $100k yr at 8% interest with an avg car price of $50k and home price of $400k. Forget it. It’s gonna hurt. America is broken. On the other hand, I have a ~$20k/mo salary and so feel guilty as shit paying $2k/mo for a car. Maybe I’m broken. I feel poor still. Maybe because I grew up on food stamps and was homeless for a time. I guess I can’t shake that depression era mindset, but I always feel poor. Feeling poor and being poor are different however, and I’d rather feel poor than be poor. Strangely, I felt less poor when I was poor. I didn’t give a fck about money then and never thought about things I couldn’t afford. Now I can afford things I can’t afford and I buy them and think about how I shouldn’t have. If that made sense to you, Then you must be as broken as I am. |
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08-23-2023, 05:28 PM | #233 | |
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08-23-2023, 06:49 PM | #234 | |
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08-23-2023, 06:57 PM | #235 | ||
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08-23-2023, 07:31 PM | #236 | |
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08-23-2023, 07:37 PM | #237 | |
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Living in California, it's insane how poor one can feel despite having a decent income. |
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08-23-2023, 08:38 PM | #238 | |
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I love visiting my family in the Seal Beach area, but it is crazy to see how expensive real estate is out there! |
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08-23-2023, 09:53 PM | #239 | ||
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I fully agree that the M3 is a good deal considering performance & luxury per $$ ratio compared to what’s out there. I never thought I’d ever say that a $100k car is a good deal. In regards to G8x vs. 991.2 T or S….If useable 4 seats weren’t a factor and everything else being equal, I’d choose the G8x any day. With the exception of cornering, the BMW (especially the M3CX) has the 991.2T/S/GTS beat in every aspect. JMHO. Before I go on, let’s not go down the rabbit hole and start a debate on P-cars vs. bimmers, please. I’ve owned a stage 2 tuned 991.2 GTS. It was putting out just shy of 600hp. I loved that beast. It’s a Porsche! What’s there to not like!? For everyday use, practicality, and performance, the M3CX is a faster and a better street car. Yes, you heard it right, faster (on the street and not the track). The 992 is a whole new animal and it’s significantly more expensive. Kudos to BMW for the G8x! |
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08-23-2023, 09:58 PM | #240 |
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The median household income in the US is about $76k/yr. Median rent is $2k/month, median home price is $416k. The average new car price is $48k with the average payment around $730/mo. People are spending about 12% of their gross, pre-tax income on their car payment.
Obviously these numbers vary when you look at specific localities, but those data points at least get the conversation started. For ease of the math, let's say a new G8X is double the average new car price. Just based on the responses in this thread, I would guess most would say $152k/yr (double the median income) is probably too light to buy a G8X, but that would be in line with what the "average American" would consider enough. Kind of eye-opening. I'm not arguing what people should do... that's subjective to each person's circumstances, preachy, and really, I don’t care what people i dont know spend on their car payments. I'm just pointing out the data.
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08-23-2023, 10:53 PM | #241 | |
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08-23-2023, 11:25 PM | #242 |
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I don’t like asking people how much they make, how much their car is worth. Feels kind of rude. 🤷🏻‍♂️
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