M5 as the next car!

[PoorLurker]

Originally Posted by M6-Coupe

wow... here in Irvine, the rent of a 1 bed-room apartment by itself is $1700

@M6-Coupe Would this Apartment you speak of happen to be near Woodbury? While driving to work in the morning, I come across an M6 like yours very frequently.

Sorry to bring up a dead thread - but I enjoyed reading these posts especially being that they are on a car forum. Typically, many car enthusiasts value cars more than the typical citizen. Therefore, they'd put more monetary value into one. (Think of women and purses when a $40 Target purse can do the same job at a 1/100 of the purchase price)

Bavarian - put away $1,500/mo into your brokerage account for 6 months and see how you feel about the money. At the end of 6 months, you may even have more than the $9k invested. If you lose everything, then it shouldn't matter because that may be like the predepreciation period of the M5, haha.

[M6-Coupe]

Originally Posted by PoorLurker

@M6-Coupe Would this Apartment you speak of happen to be near Woodbury? While driving to work in the morning, I come across an M6 like yours very frequently.

Sorry to bring up a dead thread - but I enjoyed reading these posts especially being that they are on a car forum. Typically, many car enthusiasts value cars more than the typical citizen. Therefore, they'd put more monetary value into one. (Think of women and purses when a $40 Target purse can do the same job at a 1/100 of the purchase price)

Bavarian - put away $1,500/mo into your brokerage account for 6 months and see how you feel about the money. At the end of 6 months, you may even have more than the $9k invested. If you lose everything, then it shouldn't matter because that may be like the predepreciation period of the M5, haha.

Yes, 1 bed room apartment in woodbury area worth around $1700/mo and that M6 you see frequently might be mine
However I have seen another M6 in Sakhir Orange around...

[darkrabbit]

Originally Posted by PoorLurker

@M6-Coupe Would this Apartment you speak of happen to be near Woodbury? While driving to work in the morning, I come across an M6 like yours very frequently.

Sorry to bring up a dead thread - but I enjoyed reading these posts especially being that they are on a car forum. Typically, many car enthusiasts value cars more than the typical citizen. Therefore, they'd put more monetary value into one. (Think of women and purses when a $40 Target purse can do the same job at a 1/100 of the purchase price)

Bavarian - put away $1,500/mo into your brokerage account for 6 months and see how you feel about the money. At the end of 6 months, you may even have more than the $9k invested. If you lose everything, then it shouldn't matter because that may be like the predepreciation period of the M5, haha.

I also enjoyed reading this thread, and this is a good point. A car enthusiast will look at a car as not just your means of transport but also as your hobby / passion. It always amuses me when some people say that you shouldn't spend so much on a car and in the same breath talk about their $5k watch, which is less accurate in time than my iPhone and does a whole lot of nothing. So to each their own. Definitely need to keep the car budget manageable but I think an extra few %age of your net put towards it because it's something that gives you great pleasure is very forgivable.

I have no issue affording the M5, but because I am very budget conscious (and my accountant doesn't like $2k car payments -- I'm in Canada), it does bug me to unload that kind of coin on any asset that depreciates as fast as a computer. But every time I get into it, especially on a business trip, I grin ear to ear and am reminded it was worth every penny. I love driving, love it, and for me it was the right decision.

-J

[M6-Coupe]

Originally Posted by darkrabbit

I also enjoyed reading this thread, and this is a good point. A car enthusiast will look at a car as not just your means of transport but also as your hobby / passion. It always amuses me when some people say that you shouldn't spend so much on a car and in the same breath talk about their $5k watch, which is less accurate in time than my iPhone and does a whole lot of nothing. So to each their own. Definitely need to keep the car budget manageable but I think an extra few %age of your net put towards it because it's something that gives you great pleasure is very forgivable.
....

[PoorLurker]

Originally Posted by darkrabbit

I also enjoyed reading this thread, and this is a good point. A car enthusiast will look at a car as not just your means of transport but also as your hobby / passion. It always amuses me when some people say that you shouldn't spend so much on a car and in the same breath talk about their $5k watch, which is less accurate in time than my iPhone and does a whole lot of nothing. So to each their own. Definitely need to keep the car budget manageable but I think an extra few %age of your net put towards it because it's something that gives you great pleasure is very forgivable.

I have no issue affording the M5, but because I am very budget conscious (and my accountant doesn't like $2k car payments -- I'm in Canada), it does bug me to unload that kind of coin on any asset that depreciates as fast as a computer. But every time I get into it, especially on a business trip, I grin ear to ear and am reminded it was worth every penny. I love driving, love it, and for me it was the right decision.

-J

That Tim Horton's must have been a fresh brew this morning! I really enjoyed my visit to Missisauga. Stayed in Etobicoke for a week one time. Pretty neat place!

The depreciation part also jabs at me. There are things that are hard for me to do financially and a large depreciating asset is pretty challenging. I'd much rather drive a cheap Honda Fit everyday and have a 997 GT3 in the garage for those grin ear to ear days.

either way, pipe dreams for the poorlurker haha

[bodonx]

When I was in your shoes 8 yrs ago right out of college, I spent $1.6k per mo ($380 of it was for 325i).

I shared a 2 bed apt with a friend and put 70-80% to brokerage account.

I'm glad I have been frugal and will try to maintain 70-80% saving ratio even with M5.

As someone said above, having a paid off main residence is the best feeling.

[WuTang]

Three words for the haters, "Picture me rollin."