10-14-2014, 11:28 AM | #89 | |
Brigadier General
1333
Rep 4,209
Posts |
Quote:
What a story. Made me sit down and think about where I am at in life and what I should be doing. Your story qualifies for another Breaking Bad spin off. Congrats on beating cancer and living your life to the fullest.
__________________
Current: 21 M5 Comp, 23 M3 6spd, 24 iX M60, 23 i4, 20 Tundra TRD PRO
|
|
Appreciate
0
|
10-16-2014, 06:36 AM | #90 | |
Brigadier General
654
Rep 4,320
Posts |
Quote:
I guess living in NC gives some room in your budget - good rule of thumb usually is 30% home, 30% living expenses, and 30% for savings/fudge factor. With a 335i and a monthly payment of $780 (financed $42k), I can't imagine an M5 anytime soon (unless it was used and price in the $50k range).
__________________
CURRENT: 2017 RS3 (miss you guys)
SOLD: 2012 335i Mineral Gray M Performance Exhaust/Brakes/Suspension/LSD|Bav Stage 1/AMP||ER CP/IC/DP/OC | Dinan CAI/N55 PWG BIG TURBO|BMWF30.com |
|
Appreciate
0
|
10-16-2014, 06:41 AM | #91 | |
Brigadier General
654
Rep 4,320
Posts |
Quote:
Your monthly income is more important than your liquid net worth since most people finance cars - if you buy an M5 cash and have ~1M liquid with interest rates this low, probably doesn't make sense.
__________________
CURRENT: 2017 RS3 (miss you guys)
SOLD: 2012 335i Mineral Gray M Performance Exhaust/Brakes/Suspension/LSD|Bav Stage 1/AMP||ER CP/IC/DP/OC | Dinan CAI/N55 PWG BIG TURBO|BMWF30.com |
|
Appreciate
0
|
10-16-2014, 08:14 PM | #92 | ||
Second Lieutenant
49
Rep 282
Posts |
Quote:
Stock market can easily give avg $80-100k/year from $1M. More than enough to finance/lease M5. |
||
Appreciate
0
|
10-17-2014, 06:54 AM | #93 | |||
Captain
170
Rep 798
Posts |
Quote:
Alternate investments are not golden either this year unless you were lucky enough (and bulge enough) to invest with mega buy side funds.
__________________
2015 M5 Individual Moonstone Metallic / Special order Caramel/Black / Special order Walnut Honey Trim/ Comp Package / ED / Left the Stable :-(
2018 Volvo XC90 T6 POLESTAR 2018 AMG GT 2017 Fiat 500C Abarth |
|||
Appreciate
0
|
10-17-2014, 12:03 PM | #94 |
Car Tuning Geek
586
Rep 1,476
Posts |
There was a post somewhere I read "what would you tell your younger self if you could give one piece of advice". Well I'm in my 30's now and if I can go back to my teens or even 20's, I would tell myself to stop wasting money on useless mods and cars!!!!!
I didn't have the right friends in my 20's and wasted all my money on R/C cars and later real cars spending all my hard earned money on crap that would never materialize into anything besides a money pit. Now in my 30's I have significant properties in 4 states and still trying to do more with house flips now. The problem is you need cash to make money and I wish I had more liquid cash saved up back then to use now..... You sound like a younger guy so my advice would be: a) Fix your credit however you can b) SAVE SAVE SAVE c) Buy a used m3 or whatever you can afford and just be happy d) Leave frugally and save for investments....you never know what opp might pop up down the road and if you don't have money, you will miss that money train Cars come and go so unless it's money you can throw away and not care about, then don't put your cash into a money pit.
__________________
04 GPW/Onyx NSX
08 Rio Yellow s2000 CR 16 F80 Dakar M3 15 Ferrari 458 Spider |
Appreciate
0
|
10-17-2014, 10:57 PM | #95 | ||||
Second Lieutenant
49
Rep 282
Posts |
Quote:
Take the data from the last 80-90 yrs. The key word is average. You might get +40% last year. You might get -10% this year. Long term avg will still be 8-10%/yr including dividend. |
||||
Appreciate
0
|
10-21-2014, 10:32 PM | #96 | |
Major
362
Rep 1,421
Posts |
Quote:
|
|
Appreciate
0
|
11-22-2014, 10:24 PM | #97 | |||||
Colonel
1099
Rep 2,010
Posts |
Quote:
__________________
Past: 1999 M3 2003 M5 2006 330i 2007 335i 2009 M3 2013 M3 2018 M3
|
|||||
Appreciate
0
|
11-22-2014, 11:51 PM | #98 | |
Second Lieutenant
53
Rep 293
Posts |
Well said
+5
Quote:
|
|
Appreciate
0
|
11-23-2014, 08:37 AM | #99 | ||
First Lieutenant
72
Rep 315
Posts
Drives: 13 AWSO M5,16 DGMR X5M
Join Date: Jul 2012
Location: Indonesia
|
Quote:
I am truly inspired with your story of life.. Enjoy your beasts in good health..
__________________
2012 Rosso Mars Lamborghini Gallardo STS LP570-4
2013 AW SO F10 M5 upgrades: RKP front spoiler, M performance carbon spoiler, 3D design rear carbon diffuser, KW HAS Sleeve Kit, Akrapovic Evolution Carbon tips, ind black LCI front and rear grills, GruppeM RAM intake, 20" HRE P104 satin charcoal with PSS tires) |
||
Appreciate
0
|
11-23-2014, 10:33 AM | #100 |
Lieutenant
239
Rep 512
Posts |
My '13 M5 i'm leasing for $625/mo. 36 months. That said i put some cash up front to keep a reasonable payment. I try to put enough cash up front and work a good enough deal to keep all my payments below $700. That way if things get bad i'm not stuck with a monster payment. Currently we have a '15 X5 35D @ $0/mo (one pay lease), '15 GL350bluetec@ $695/mo, '13 M5@$625/mo, '14 Raptor@ $545/mo. So total $1865/mo for $340,000 worth of cars. Not bad!!! I own my own business and the Raptor got us a 25k tax write-off as well. I feel we are way under our means with what we have and thats how i like to keep it. Our house is paid off and all we really have are car payments. At 120k/yr i would suggest maybe leasing an M3 with 8-10k cash up front and you could get a much better payment than a used M5.
|
Appreciate
0
|
11-23-2014, 11:24 AM | #101 | |
Major General
1439
Rep 6,275
Posts |
Quote:
__________________
Current : 2024 F92 Black Sapphire M8 Competition- ZF8
Gone : 2020 F92 Black Sapphire M8 - ZF8 Gone : 2018 F80 Mineral Gray M3 Competition - 6MT Gone : 2016 F82 Austin Yellow M4 Competition - 6MT Gone : 2013 F13 Sakhir Orange M6 -7DCT |
|
Appreciate
0
|
11-23-2014, 05:34 PM | #103 |
Major General
1439
Rep 6,275
Posts |
Hi Soooma... how are you doing my friend?
It's interesting that this thread got alive again. I remember the days this thread was up and I was following the comments, but never commented. Today I want to post my comment on people in this thread. I want to comment on those are talking about the LOGIC that owning a +100K car needs to have over 600K income. To those who believe everybody has to have a good account, good credit, house, high income and ,... to be able to pay $1500 monthly for a 100K car and IF not then he will have miserable life WHEN he gets old! I completely agree with 99% of these sentences except that "IF" and that "WHEN"... Is there anybody here guarantee that we see the 60 or 70 or 80 birthday? what about if that "IF" never happens? Work hard, try to save money, get this, get that and "Don't drive your dream car" and wait until you get millionaire to drive your dream car IF and WHEN you get rich! And even if you get rich, then you may be at 80 years old... I personally, since there is no guarantee to live 80 years and because I really don't care to drive Ferrari or Toyota at that age, would like to drive M6 these days and will drive any super exotic car if I feel I want one day and my income is not even close to 600K Life is too short! Don't F... yourself, but enjoy it as much as you can OP, I know a guy who has his own business and has a six-figure income (over million dollar) and drives Prious! because he doesn't care about cars! He needs a car to go from his home to his work and come back. That's it! If you are car enthusiast and enjoy driving a powerful car go for it! You don't need to get a brand new M5, but you can get a used F10 M5 with 60K and that's smart shopping!
__________________
Current : 2024 F92 Black Sapphire M8 Competition- ZF8
Gone : 2020 F92 Black Sapphire M8 - ZF8 Gone : 2018 F80 Mineral Gray M3 Competition - 6MT Gone : 2016 F82 Austin Yellow M4 Competition - 6MT Gone : 2013 F13 Sakhir Orange M6 -7DCT |
Appreciate
0
|
11-23-2014, 06:25 PM | #104 | |||||
Captain
170
Rep 798
Posts |
Quote:
Live in the fallacy of 8-9% long term growth and we will chat in a few years and see how you did. Btw, still save up because the implied inflation from your 8-9% is going to wipe out most of any nominal gains you may thought you would have!
__________________
2015 M5 Individual Moonstone Metallic / Special order Caramel/Black / Special order Walnut Honey Trim/ Comp Package / ED / Left the Stable :-(
2018 Volvo XC90 T6 POLESTAR 2018 AMG GT 2017 Fiat 500C Abarth |
|||||
Appreciate
0
|
Post Reply |
Bookmarks |
|
|