[harperium]

If you steal an M3, as someone is apparently planning to do, you don't need much salary at all

[geko29]

When you can write that six-figure check without either: A) vomiting, or B) overdrawing your account.

[Tyga11]

Originally Posted by geko29

When you can write that six-figure check without either: A) vomiting, or B) overdrawing your account.

I would guess that 99% people lease or finance

[kgelfen360]

There is an argument to be made that no salary is enough to buy G80. U are buying depreciating asset. So it’s a bad deal no matter how u look at it (financially).
If you strictly go by financial advise you should get lightly used car with good fuel consumption.

[BmwFanBoy94]

Well anyone can afford one, even if your on a low salary.

Depends how much you’ve got saved and can put towards your down payment if your financing.

If we all started with 0 in our account and bang, who can afford a g80 straight away well…. With finance I’d say you’d have to be on atleast 6/7k+ a month to live comfortably with your mortgage payments, living costs and dependables including Children/house wife potentially.

I feel there’s loads of other factors that will depend on if you can afford something. Hence when you get mortgage they want to know more than just how much you earn

[Likeanowl]

A rule of thumb I always went by for any purchase I ever made in life with the exception of a home was if you cannot afford to buy whatever it is in cash, at the time of purchase, 2 times over, then you cannot afford that item.

I am not saying you have to pay for it in cash, but if in your savings/investments/liquid assets, you do not have enough to pay for it twice over and still have a good cushion left, then I say don’t buy it. Again, only exception is a house.

With that being said, I make a very modest salary but because of that rule I have plenty of money saved, was able to buy it in cash, and currently have $0 in debt, and owe nobody anything outside of standard monthly bills. But to each their own.

[G MONEY]

I just cut down on the Hookers/Coke and the rub and tug. Now there is extra cash around. It’s all about needs🤣

[Likeanowl]

Originally Posted by Tyga11

I would guess that 99% people lease or finance

I am the 1% I guess and I didn’t vomit.

[geko29]

Originally Posted by Likeanowl

I am the 1% I guess and I didn’t vomit.

Likewise. I actually asked my SA when I picked it up if he had seen a shift of purchase type from finance/lease to cash with the hike in interest rates. He said it's been dramatic, far more than I would have expected. In fact, four out of four vehicles he delivered that week (including mine) were cash sales. One was an X5, I forget what the other two were.

[Humdizzle]

salary doesn't matter. its your expenses.

you could make 100k a year in the rural midwest with zero debt and paid off mortgage and buy a mclaren.

you can make 300k in down town LA, have child support, alimony to exwife, ailing parents to care for, college debt, eat out alot, high mortgage, etc etc and not afford an M3.

places also offer 144 financing which is flat out predatory

in short: you can't judge how wealthy someone is by their car.

[AhsanU]

Originally Posted by yousefnjr

D2 > D1 > D4 > forced, unwilling castration > D3

Fight me

I will fight you.

But if I win, you must play vanilla D3, the version with the auction house, for the rest of time as punishment.

[Forzanerazzurri]

Everyone's got a different situation but I personally could not imagine spending over 10% of my gross salary on a car payment per month.

[Nick800]

Originally Posted by Delmoney335

So you’d have to make $29k a month to afford maybe $1200-1500 car payment ?….

There's also insurance, maintenance, gas, taxes, etc.

You need $50,000 of salary dedicated to this car to afford the after-tax expenses associated with it. Assuming you aren't paying cash.

So...if you make $250k for example, then assume $50k of that is just covering your M3.

[Likeanowl]

Originally Posted by Nick800

There's also insurance, maintenance, gas, taxes, etc.

You need $50,000 of salary dedicated to this car to afford the after-tax expenses associated with it. Assuming you aren't paying cash.

So...if you make $250k for example, then assume $50k of that is just covering your M3.

Wait what do you mean $50,000 for after tax expenses?

[mcsquared]

Figure for those that financed a 100k car and put a 20% downpayment, inclusive of taxes, you’d be left with 80k to pay off over 5/6/7 years, at x.xx% interest.

If that payment is 1250/mo, for example, that’s 15k/yr in payments. Add in insurance and gas (roughly $250, depends on how much one drives, of course), let’s say the monthly is now roughly 1500/mo. or 18k/yr. If that doesn’t put a dent in your finances, after everything else, then, you can afford it.

Fun Fact: Back in 2015, that would buy you nice a house in Florida. Today, maybe a decent townhouse.

['Cane]

Originally Posted by mcsquared

Fun Fact: Back in 2015, that would buy you nice a house in Florida. Today, maybe a decent townhouse.

Depends on where in FL. My house appraised for $275k in 2015, I could probably sell it in a week for $800k now.

[mcsquared]

^^ For sure. Same here.

Back then, M3’s were also much cheaper than they are today, just the same.

[NorCalAthlete]

Originally Posted by mcsquared

Figure for those that financed a 100k car and put a 20% downpayment, inclusive of taxes, you’d be left with 80k to pay off over 5/6/7 years, at x.xx% interest.

If that payment is 1250/mo, for example, that’s 15k/yr in payments. Add in insurance and gas (depends on how much one drives, of course), let’s say it’s roughly 1500/mo. or 18k/yr. If that doesn’t put a dent in your finances, after everything else, then, you can afford it.

Fun Fact: Back in 2015, that would buy you nice a house in Florida. Today, maybe a decent townhouse.

What the fuck kind of insurance and gas are you paying for that's running you $1,500 / month? I live in the bay area where premium is almost $6 / gallon and I don't come anywhere near that much, and I daily my M4. My insurance is also a fraction of that.

['Cane]

Originally Posted by NorCalAthlete

What the fuck kind of insurance and gas are you paying for that's running you $1,500 / month? I live in the bay area where premium is almost $6 / gallon and I don't come anywhere near that much, and I daily my M4. My insurance is also a fraction of that.

Insurance (car and homeowners) in FL is a mess. Mine is nowhere close to that, but I’m sure some people can get up there.

[mcsquared]

Originally Posted by NorCalAthlete

What the fuck kind of insurance and gas are you paying for that's running you $1,500 / month? I live in the bay area where premium is almost $6 / gallon and I don't come anywhere near that much, and I daily my M4. My insurance is also a fraction of that.

Hahaha, ooops! I corrected my post. I meant add insurance and gas (roughly $250/mo) and the car payment now becomes $1500/mo.

[Delmoney335]

Originally Posted by Nick800

There's also insurance, maintenance, gas, taxes, etc.

You need $50,000 of salary dedicated to this car to afford the after-tax expenses associated with it. Assuming you aren't paying cash.

So...if you make $250k for example, then assume $50k of that is just covering your M3.

Are you just making numbers up? 50k a year dedicated to this car is excessive.

[NorCalAthlete]

Originally Posted by mcsquared

Hahaha, ooops! I corrected my post. I meant add insurance and gas (roughly $250/mo) and the car payment now becomes $1500/mo.

Ok, that makes more sense lol. I was sitting here like "this dude's either 16 and got an M3 as his first car thus crazy high insurance, or he has a 3 hour commute one-direction..."