11-10-2021, 11:56 AM | #23 |
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Gs 12 and I'm getting one cuz my next car is gonna be some electric suv/sav. I'm only 32 once.
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11-10-2021, 12:31 PM | #25 | |
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But another side of me thinks that interest is low so why not use someone else's money. No payments is nice though. It's a tough one |
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11-10-2021, 12:33 PM | #26 |
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0.9% is free money why give them your cash. Read up on net present value. You are better off dumping $100k into some risk adverse investment account that gains 5%+ and taking out the loan. That's what I am doing.
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11-10-2021, 01:02 PM | #27 |
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I can't see paying 100k for a car, when you can get virtually every option that makes sense for 10-15k less. But, to each his own. Personally, don't like the CF seats for comfort--look great, and have no need for ceramic brakes. Dropping 10k off that price is easy.
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11-10-2021, 01:25 PM | #28 | |
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11-10-2021, 01:30 PM | #29 |
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The .9% is not quite free, but I get your point. It's very low. But at the same time, it's low interest rates all around for low risk or fixed income investments, so I'm not sure where you can get 5% at low risk.
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11-10-2021, 01:51 PM | #30 |
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Jesus. Didn't we already have a dumb thread like this???
https://g80.bimmerpost.com/forums/sh...highlight=Dumb |
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11-10-2021, 01:54 PM | #31 |
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I didn't think children were allowed to post on this forum - isn't there an 18+ rule or something?
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11-10-2021, 03:05 PM | #32 | |
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2022 Porsche Boxster GTS Gentian Blue
2023 Porsche Spyder Python Green (on order) 2022 BMW M3 Comp AWD IOMG/Kyalami Orange (SOLD) 2018 BMW M2 Mineral Grey(SOLD) 2019 BMW X5 50i Carbon Black/Tartufo (SOLD) |
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11-10-2021, 03:47 PM | #33 |
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People really need to do a little search on the existing threads before posting duplicates of other worthless threads. There was exactly another thread as this that fizzled out quickly.
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'21 G80 M3
'11 E82 135i DCT (Gone but not forgotten) '08 E90 335i (Gone but not forgotten) |
11-10-2021, 05:06 PM | #34 |
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Income is irrelevant. What generally matters is your net worth and your overall particular financial situation. There's plenty of people who are high earners who are actually poor or middle class. We call these people HENRYs (High Earners Not Rich Yet). They may make a lot of money but they also spend every dime of it and would be in a world of hurt if they ever lost their jobs. These people should not be buying an expensive vehicle regardless of how much money they make. Meanwhile, there's folks who are single with no kids who keep their living expenses extremely low and perhaps only make $50k a year but have a few $100k in the bank. These people can often pay cash for an expensive vehicle and still have plenty of cash reserved even if their income is very low compared to a HENRY.
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FrankieNuo1219.00 |
11-10-2021, 07:08 PM | #35 | |
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I would definitely pay cash for it if you have the money to do so. There are many who think using the bank's money at a low interest is a safe thing to do. Any time, you borrow money from the bank/financial institution, they charge you what's known as interest - AKA a fee you pay to use THEIR money. So not only are you buying one of the biggest depreciating assets in life (a car), but you ultimately pay MORE for it because you opted to use someone else's $ (when you had your own). Talk about being upside down. Not to get too biblical, but the phrase "the borrower is a slave to the lender" comes to mind. Conversely, the (theoretical) mathematical argument that your money is better spent in the market, "safe" investment, etc. while using someone else's money to fund your car hobby is incomplete at best and misleading at worst. It forgets to take into consideration beta (risk) into the equation. We all live in the real world, not the theoretical one. Assuming one is investing their money into the market, there is no guarantee of return and the only "safe" bet is on the one we can make about long term gains on well-diversified portfolio (years in the market). The stock market is quite volatile when looking at a short term perspective, even when you look at "safe" investments like index-based, passive, no-load, low-turnover mutual funds. Meaning you may end up in scenario where you lose a lot of your own money in the market in the duration of your finance/lease period of your car (where you're also losing money). Additionally, if you're picking individual stocks, good luck trying to consistently out beat the index with broker fees, taxes on capital gains, operating expenses, not to mention the risk you take with gambling your money... picking individual stocks is gambling isn't it lol I would also venture to say that those who are prodigious investors, tend to reduce their costs when it comes to depreciating assets, they usually don't spend $ on new cars as it has been one of the fastest ways to lose money. Pandemic supply-demand issue aside, what do you think an average used g8X car will be worth in 5-10 years? More than MSRP?? Doubt it. So taking all that into consideration - if I have enough saved where I can spend $100,000 on a car - I would pay cash. Assuming this amount isn't your entire life savings, but additional funds you have on top of securing the financial aspect of you/your families' life. |
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11-10-2021, 08:54 PM | #36 |
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Pay is not that great but it is what it is…
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11-10-2021, 09:36 PM | #39 |
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Still the same.
Man, I make like $2 an hour and ALL THE FRESCA I CAN DRINK! I can't believe we drove around all day, and there's not a single job in this town. There is nothing, nada, zip! Yeah! Unless you wanna work forty hours a week. |
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11-10-2021, 10:03 PM | #40 |
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11-10-2021, 10:06 PM | #41 |
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Just my opinion but for a 100k car you should be making min 150k/yr. Your car payment shouldnt exceed 10% of your income imo. Also, luxury cars should only be bought after all your other financials are in check for ex maxing out your ira/401k every yr, buying a house, other investments/priorities such as savings for kids etc. In other words, you should be comfortable with the monthly payments. Thank GOD im in my 30s with a house thats paid for and no kids/wife.
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11-10-2021, 11:05 PM | #42 | |
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11-10-2021, 11:15 PM | #43 | |
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11-10-2021, 11:28 PM | #44 | |
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I purchased a 22 G82 M4 Comp Brookly Grey. I thought Sales Tax (California) was the issue. Not the cost! |
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