Avg net income of M5 owner?

[BavariaExclusive]

Yeah this question can come off very tacky but the only reason I'm asking is to self motivate. I'm sure I can afford a M5 if I wanted. But I want to earn it, I want to deserve it. I just don't want to be over my 20% that is suppose to go in cars according to the Financial experts.

Current car: 2012 F10 Msport.

Comments will be really appreciated.

[Fantasm]

Probably over $120k/year minimum, but only that low if its their only car...
If you can only afford 1 car, the M5, then I think its out of your budget. You'd be best served saving or investing the difference between an M5 and say an Infiniti Q50.

[soooma]

You could be making 70k per year but have saved for 15 years and can easily justify an m5 based on saving and good 401k - or inheritance or many other scenarios but barring all these I believe even 120k is hard to swallow as a good number to justify an M5!

But remember TEHO!
Cars can be -as most people tell me trying to make me wise up - - a way to get from point A to point B,

Well my reply is: so is life getting from point A to point B but how so? How much fun and happiness which are really scarce these days while moving from A to B?!! If that matters to you then pull the trigger and let people say whatever they want! ! Be happy life is short my friend ... Enjoy your M5 when you get it and let nobody spoil your fun for you and I encourage you to do so as bad an investment as it looks but the only one that will make you giggle on a daily basis -

My 2 cents

[PhilT3]

If you need to ask, you can't 'afford' it. IMO.

'Affording' 'earning' and 'deserving'... Are all measured by each individual... Again IMO...

IMO, if you need to follow the 20% 'rule' you've mentioned above, then I would say a $100k car is NOT a sound financial decision.

And please... I mean this with all due respect and NO intention of rudeness.

[M6-Coupe]

Originally Posted by PhilT3

...'Affording' 'earning' and 'deserving'... Are all measured by each individual... Again IMO...

100% Agree!

Originally Posted by soooma

...Well my reply is: so is life getting from point A to point B but how so? How much fun and happiness which are really scarce these days while moving from A to B?!! If that matters to you then pull the trigger and let people say whatever they want! ! Be happy life is short my friend ... Enjoy your M5 when you get it and let nobody spoil your fun for you and I encourage you to do so as bad an investment as it looks but the only one that will make you giggle on a daily basis -

I wish I could find a way to predict the path (between point A and B) where I meet lots of M3/M4

[clar]

Originally Posted by PhilT3

If you need to ask, you can't 'afford' it. IMO.

'Affording' 'earning' and 'deserving'... Are all measured by each individual... Again IMO...

IMO, if you need to follow the 20% 'rule' you've mentioned above, then I would say a $100k car is NOT a sound financial decision.

And please... I mean this with all due respect and NO intention of rudeness.

How true! I am tired of hearing people telling me that I should be investing my $ on property instead of burning it on a depreciating asset. The same "financially savvy" individuals are also the ones who drive a rust bucket, invest in stocks and property and get burnt at some down turn in the global economy. Accumulating wealth isn't the most important thing in life. It's not simply how much u have, but how much u can enjoy what u have that matters. Having said that, financial prudence must not be overlooked. Never over commit on a set of wheels. Always make sure u set aside some $ for savings to cope with rainy days. Economic cycles are hitting us in more frequent intervals, so must always be prepared!

[MichaelJohn]

You can't ask a man his income! I will say that I will only pay cash for cars. I did take out a loan once for an E36 M3 because BMW gave me 1.9% financing and at the time I could easily better that with fixed income investments. However I really disliked that the pink slip said that BMW owned the car. I'm old school, I won't buy a car unless I can easily pay cash for it which has meant a lot of hard work and many years of saving and investing. It has been simple for me, buying a car has not been a matter of how much I earned, but how much I saved. Of course the more you earn, the more you save (if you have some self-discipline). In the beginning, I didn't earn much as I started out as a teacher - but I still managed to pay cash for my cars by saving and being careful. They weren't high-end cars, but they were mine. I left teaching for the business world 20+ years ago and my financial situation has changed, but I'm still careful. I guess my dad's mantra of "don't buy it unless you can afford it" really stuck. This has meant some delayed gratification for me but it has been all the sweeter.

Also, asking how much one should earn in order to afford a $100,000+ car has too many variables. Are you single? Married? Wife work? Kids? How Many? Private schools? What colleges will they attend? What are your current expenses? I think a single person with low expenses could swing an M5 making less than $100K annually. However someone with a family and much more to worry about might need $200K+. Only you know how much money you need to make in order to afford something, and if you don't know you better figure it out before you drop $100K on a car. No offense, but this is an impossible question for strangers to answer.

You also say that you are sure that you can afford an M5 so maybe I just don't understand the question?

[Stash21]

If the cost of a m5 was 20% of my income. I wouldn't do it.

[BavariaExclusive]

I'm an IT Architect so I mostly work from home. I mainly lease my F10s to enjoy the shiit out of them lol. I feel its time to step my game up in the F10 series and really get the best of BMW.

Fatasm- Why would I get an Infiniti and not just keep driving my 535i Msport?

Sooma- You're definitely right. I get that allot too. "Car just takes a person from point A-B." I'm all about working hard and playing hard so I just might pull the trigger. It's nothing like pushing a M5 when you're 30.

Phil- Well I need to ask you M5 owners first, this is why we're all here. To answer each other's stupid questions about BMWs. Second thing, its not a matter of affording it or not. Its a matter of hearing about it enough then wanting to go out there and experiencing one yourself. As for the 20%, if M5 owners really followed that rule. Only half of you would be enjoying that beast. Please forgive me for not knowing but what is IMO?

Lol M6_Coupe, isn't there a rumor going around that M3 is faster than M5 cuz its lighter blah blah. I hate it when I hear that.

[BavariaExclusive]

Very well said and thank you!

Originally Posted by clar

How true! I am tired of hearing people telling me that I should be investing my $ on property instead of burning it on a depreciating asset. The same "financially savvy" individuals are also the ones who drive a rust bucket, invest in stocks and property and get burnt at some down turn in the global economy. Accumulating wealth isn't the most important thing in life. It's not simply how much u have, but how much u can enjoy what u have that matters. Having said that, financial prudence must not be overlooked. Never over commit on a set of wheels. Always make sure u set aside some $ for savings to cope with rainy days. Economic cycles are hitting us in more frequent intervals, so must always be prepared!

[BavariaExclusive]

Thanks for your response! I am 30 single with no kids with never ending will power to reach higher success in any means.

Originally Posted by MichaelJohn

You can't ask a man his income! I will say that I will only pay cash for cars. I did take out a loan once for an E36 M3 because BMW gave me 1.9% financing and at the time I could easily better that with fixed income investments. However I really disliked that the pink slip said that BMW owned the car. I'm old school, I won't buy a car unless I can easily pay cash for it which has meant a lot of hard work and many years of saving and investing. It has been simple for me, buying a car has not been a matter of how much I earned, but how much I saved. Of course the more you earn, the more you save (if you have some self-discipline). In the beginning, I didn't earn much as I started out as a teacher - but I still managed to pay cash for my cars by saving and being careful. They weren't high-end cars, but they were mine. I left teaching for the business world 20+ years ago and my financial situation has changed, but I'm still careful. I guess my dad's mantra of "don't buy it unless you can afford it" really stuck. This has meant some delayed gratification for me but it has been all the sweeter.

Also, asking how much one should earn in order to afford a $100,000+ car has too many variables. Are you single? Married? Wife work? Kids? How Many? Private schools? What colleges will they attend? What are your current expenses? I think a single person with low expenses could swing an M5 making less than $100K annually. However someone with a family and much more to worry about might need $200K+. Only you know how much money you need to make in order to afford something, and if you don't know you better figure it out before you drop $100K on a car. No offense, but this is an impossible question for strangers to answer.

You also say that you are sure that you can afford an M5 so maybe I just don't understand the question?

[M6-Coupe]

Originally Posted by MichaelJohn

Also, asking how much one should earn in order to afford a $100,000+ car has too many variables. Are you single? Married? Wife work? Kids? How Many? Private schools? What colleges will they attend? What are your current expenses? I think a single person with low expenses could swing an M5 making less than $100K annually. However someone with a family and much more to worry about might need $200K+. Only you know how much money you need to make in order to afford something...?

Well said!

[BavariaExclusive]

Well then you must belong to the 1% population of the world. Lucky you!

Originally Posted by Stash21

If the cost of a m5 was 20% of my income. I wouldn't do it.

[M6-Coupe]

Originally Posted by BavariaExclusive

Lol M6_Coupe, isn't there a rumor going around that M3 is faster than M5 cuz its lighter blah blah. I hate it when I hear that.

Yeah, I also heard that
It was months ago before M3 came out, but since then I have been seeking to see a video or report of any racing or even any number... no success at all

[Stash21]

Originally Posted by BavariaExclusive

Well then you must belong to the 1% population of the world. Lucky you!

Not sure what percentage m5 is versus regular 5 series. But I bet its close to 1%.

[wontonbomb]

Originally Posted by MichaelJohn

Also, asking how much one should earn in order to afford a $100,000+ car has too many variables. Are you single? Married? Wife work? Kids? How Many? Private schools? What colleges will they attend? What are your current expenses? I think a single person with low expenses could swing an M5 making less than $100K annually. However someone with a family and much more to worry about might need $200K+. Only you know how much money you need to make in order to afford something, and if you don't know you better figure it out before you drop $100K on a car. No offense, but this is an impossible question for strangers to answer.

Yes. This.

I would love to drive an M5 but my current priorities dictate otherwise.

My advice: Do what makes you feel happy. Don't put yourself in a situation you can't dig YOURSELF out of.

Good luck and I hope you get to own an M5 soon.

[E90potentialbuyer]

Originally Posted by PhilT3

If you need to ask, you can't 'afford' it. IMO.

'Affording' 'earning' and 'deserving'... Are all measured by each individual... Again IMO...

IMO, if you need to follow the 20% 'rule' you've mentioned above, then I would say a $100k car is NOT a sound financial decision.

And please... I mean this with all due respect and NO intention of rudeness.

Agreed. If you need to ask, then you shouldn't be getting it. But many people convince themselves else wise by looking at instant gratification options like leasing.

[johntomferg]

Originally Posted by BavariaExclusive

Yeah this question can come off very tacky but the only reason I'm asking is to self motivate. I'm sure I can afford a M5 if I wanted. But I want to earn it, I want to deserve it. I just don't want to be over my 20% that is suppose to go in cars according to the Financial experts.

Current car: 2012 F10 Msport.

Comments will be really appreciated.

So to the OP...

Other things you can consider as relevant questions:

Do you have any kids? (or plan to have kids in the near term)
Does your wife also work?
Does your wife 'support' (financially and emotionally) your car enthusiast spending?
And are you prepared to also support her car enthusiast streak?

In my case, the answer is 0, Yes, Yes, Yes.

At that point, I look at my lifestyle where the majority of my daily 'personal' entertainment comes between the home and office. And while there is traffic, there are moments (precious moments) where you can have a little fun. But only if you drove the M5 that day.

For me the M5 is my primary vehicle and my daily driver. I have no regrets about that. Is it my only vehicle? No, the wife has her convertible, we have a work truck, and a classic truck. But, when left to my own devices, the one I grab the keys for (even if not going to work) is usually the M5.

I can't easily put a price on that, but BMW and the bank has. It is 1200/month. If I wasn't spending it on this, I would be spending it on something else (or saving it to spend on something else). So I choose to spend it on this!

[HappyMan]

Meeen you guys are lucky to have lease as a instrument. For $1.xxx a month you can have almost any car and more importantly your dream car.
Let me put it this way. The way I see life and the way I have learnt from life. If you are a car enthusiast and you love cars and you were dreaming to have a M5, you work hard and earn the right amount of money to purchase the car you were dreaming of, YOU HAVE TO BUY THE CAR AND SATISFY YOURSELF otherwise if you betray your dream you will loose this money. Coz god or life ( how you like to call it ) gave you blessing for your dreams but you betrayed your dream because of fear or whatever else.
Sorry for my English, its my third language.

With regard to any dream!

IMO

[drbru]

So I would say I earn a reasonable amount of money (which I dont want to disclose lol) which give me the lifestle that I want (nice house in london, nice car, and 2-3 oversees holidays a year)

However, we all live to our means so in my current position, an extra £20k would be nice however if I get this, Ill prob say an extra £kkkk would be even nicer at that point....

I do however have a lot of commitments ie a son that goes to private school and my wife only works part time as a nurse.

However, I always buy my cars in cash....yes it takes a hell of a long time to save up but I think I enjoy the car more because it involved a lot of saving to get...I also tend to hold on to my cars for longer (3-5 years) simply because it took me so long to get, that I think this actually stops me getting bored and I enjoy the car even more.......

I simply come across too many people in London with too much money for their own good...They seem to have a lot of money burning a hole in their pocket...so they go and buy a Porsche straight away without much deliberation, get bored within 6 months and then go and buy an m3, get bored in another 6 months and so on and so on...

My friends always comment on how clean and well maintained my car is...Well its again due to the fact that I got it through hard work that makes me want to keep it as good looking as I can ie I take complete pride in it....

Saying all this though...I would never buy a brand new car....Ill always look to get one that is 1-3 years old, low mealage so that someone else has taken the depreciation cost (M5s cost a lot more in the Uk ie a new well specced one will be 85k which is basically $140k for comparison)

[bimmer-boy]

Originally Posted by E90potentialbuyer

Agreed. If you need to ask, then you shouldn't be getting it. But many people convince themselves else wise by looking at instant gratification options like leasing.

True but not in all scenarios..

The first two years of the f10 m5, bmw uk offered new m5's on 0% finance.

Which is a very attractive offer and turned out quite popular over here.

[Stash21]

That 0% plus big discounts was an awesome deal.