WHAT TO DO!?

[Super Spartan]

Originally Posted by Kevin__

After all this I plan to get a 2014 Lexus IS250 cost 24k something. Pay half of the car now so that I at least have something to drive. Move out get my first apartment. They by the time 8 months pass I will have an apartment and car payment of the 8- 12 months on my history something BMW can see that I am responsible. Hopefully by then I won't need a co signer and I will have well over 50k in the bank. How's that idea...

Don't get a Lexus man, get another lower model BMW. Better resale value, better interior quality, and more fun and sturdy on the road. Just my 2 cents worth.

[Vooj]

Originally Posted by Kevin__

After all this I plan to get a 2014 Lexus IS250 cost 24k something. Pay half of the car now so that I at least have something to drive. Move out get my first apartment. They by the time 8 months pass I will have an apartment and car payment of the 8- 12 months on my history something BMW can see that I am responsible. Hopefully by then I won't need a co signer and I will have well over 50k in the bank. How's that idea...

Sounds like a much better plan. A 2 yr old Lexus as your first ride is a pretty slick ride. Contrary to other posters statements, Lexus is regarded as having the highest resale value and lowest depreciation in the luxury market.

Also remember that is takes several YEARS to build good credit, not months. To put it into perspective a friend of mine about 5 years older than me who makes about 135k a year form his day job also owns 12 investment properties and drives a CRV with 260k miles. Not being car poor sets you up for real success later. He will be a self-sufficient millionaire soon and isn't even 40.

Life is about balance though. Find yours.

[CanAutM3]

Originally Posted by Vooj

Life is about balance though. Find yours.

Hail to this

[Labeef]

Buy a beater and save money. Not realistic to lease or buy in your case. Maybe in 3 years buy a CPO for $40k and you'll have a cool savings. Be patient.

[ACZakka325i]

With all this sensibility, the entertainment of this thread really went down hill fast.

Kevin, get the ///M bro! YOLOLOLOLOL

[larryn]

Lots of terrible advice and satire here. Screw them.

Do this. Invest in black lights, Led Zeppelin, Doors and Cheryl Tiegs posters, two lava lamps in different colors and a disco ball for your downstairs room. Invite some guys and girls over and chill listening to some Asia (I never meant to be so bad to you...), eventually suggest spin the bottle or Twister. Make sure you have an area sectioned off with black sheets and put a few beanbag chairs in there. You know what to do from there. You will thank me.

[Alfonso550]

You're commentating on a form with 40 year old haters everywhere. Just remember you're only in your 20s once. Do whatever makes YOU happy and not anyone else. I'm 24 so I know what you're talking about. Personally I would invest your money like I did, stocks, apartments buildings.. Etc.. Drive around a used 335i for the time being around $22K. Your driving a BMW & 335 does have a lot of power. In a couple years when your investments start paying off & you're saving from your job then get the M car you want. Just my opinion, but make sure you do whatever makes YOU happy.

[Sedan_Clan]

Originally Posted by GrussGott

Naw, the strongest part of your brain is also the dumbest and it's going assfuck reason and get that M. We all know you're going to fuck up Kevin, even you, so let's just get it over with already.

That Miami BMW salesperson is going to lock onto you like a wolf on the dumbest sheep in the herd and they're going take all your money Kev. Hell, by the time they're done with you, you'll hand over your right nut if they asked. But don't worry, they just want all your money.

Just do us a favor: please photoblog the whole thing - the salesperson, the car, your first big crash ... and we'll give you likes! - cause it's going to be epic.

I am dying. LMAO!

[Sedan_Clan]

Originally Posted by Alfonso550

You're commentating on a form with 40 year old haters everywhere. Just remember you're only in your 20s once. Do whatever makes YOU happy and not anyone else. I'm 24 so I know what you're talking about. Personally I would invest your money like I did, stocks, apartments buildings.. Etc.. Drive around a used 335i for the time being around $22K. Your driving a BMW & 335 does have a lot of power. In a couple years when your investments start paying off & you're saving from your job then get the M car you want. Just my opinion, but make sure you do whatever makes YOU happy.

Um, I'm not 40, and I bought my first BMW at 24; first of many M's at 25. What's to hate on??!?! We're all already driving M's.

[DC-T]

Kevin, I'll cut it both ways mate.

1. Stay at home and get the M3. Most girls won't even give a shit if you living in your parents basement or at a homeless shelter and will let you smash based in the car alone. Smash as many as you can, while you can. There's a lot of unhappy married dudes on this forum who haven't seen fresh ass since Nixon was president and they jealous.

2. Buddy how it looks and how it is is really different. And many a time what you need is not what you want. If you blessed enough to make $5000, which is ZAR75K in my currency in a country where the minimal wage is $100 a month-you got to invest that money and save as much as you can as you're with your parents. You'll give yourself such a massive boost in a few years, you'll be thinking way past an M3. As boring as this advice is, it's true and effective.

PS. With that kind of money you Def into gay porn bud.

[paliknight]

Originally Posted by C-ARchitect

I bought an E92 M3 in cash around your age. Honestly it was one of the biggest mistakes of my life. Looking back I could've done so much more with all that money. Yeah life was great being 20 and driving around in a $70-80k car but it gets really boring really quickly.

Same exact sentiment here. I got my F82, and it was awesome at first, but now looking at it I could have pocketed that money and put it to use elsewhere. Now I dont want to get rid of it because I dont feel like losing 10k in a year.

[Kevin__]

Originally Posted by YasM3

That's right

[Kevin__]

Originally Posted by DC-T

Kevin, I'll cut it both ways mate.

1. Stay at home and get the M3. Most girls won't even give a shit if you living in your parents basement or at a homeless shelter and will let you smash based in the car alone. Smash as many as you can, while you can. There's a lot of unhappy married dudes on this forum who haven't seen fresh ass since Nixon was president and they jealous.

2. Buddy how it looks and how it is is really different. And many a time what you need is not what you want. If you blessed enough to make $5000, which is ZAR75K in my currency in a country where the minimal wage is $100 a month-you got to invest that money and save as much as you can as you're with your parents. You'll give yourself such a massive boost in a few years, you'll be thinking way past an M3. As boring as this advice is, it's true and effective.

PS. With that kind of money you Def into gay porn bud.

I have a girlfriend and we've been together for over a year already and she knows I don't have a car. I do online marketing my friend.

[nicknaz]

OP, I think you should live at home and keep saving, and don't move out until its a place you own. Why waste money on rent if you can avoid it?

using parents as co signers could have issues if your biz tanks. don't need that drama

As for the car thing, get an E46 M3. Look hard for a 6MT, no moon roof and it might actually appreciate. Or get an air cooled 911 or 996 GT3 or something with evidence of appreciating.

[swagon]

This place is getting more and more funny every day.

[ACZakka325i]

Originally Posted by YasM3

Just buy the damn car, you wont listen to anyone anyway.

Did you miss the part where he said he needs his parents to co-sign but doesn't want to show them his Grandma money he's been getting on birthdays? He is currently unable to go to the dealership to close the deal by himself.

If I were to venture a guess, I think he would need mom or dad to give him a ride there even if they do (or don't) give him permission..

[Rbc44]

Kevin,
You are 20 and you live at home. You want a cool car -- hey, who doesn't at your age?
But don't get crazy and go out and buy an $80k new M3/M4. That would be insane at your age and in your situation. For $25k or less you can buy yourself a perfectly good and very cool used E46 M3 in very good condition, have everything you want, not break the bank, not need parents to co-sign on a loan, not have to move out, etc. Just adjust your dreams a little.

[ChuMpion3]

Co-signed loans are for the big things in life that will improve you - a house, education (I think that's it). They are not for toys, which an M3 is. You are not even close to being able to afford this car yet.

[x.shell]

This thread is filled with everything.

You originally came for advice. Here is mine. I think you should leave bimmerpost and don't come back until you are in a more solid financial situation. I find that lurking on forums (any forums) will tempt you a lot. It definitely influenced me to get an F80. It's easy to get tunnel vision when you're reading/posting here.

A lot of people here are piling on the fact that you're 20. Take granda's advice...

NSFW btw.

[xsracer]

Kevin, while I definitely agree what most people are saying here, about saving money in retirement accounts, investment, moving out, etc, I also understand your position a bit - you live with your parents, have no expenses and some money coming in. Still, paying 1k/mo for a new car lease is crazy. And I'm not sure if you were to get a lexus, how you would get out of the lease. The process is pretty complicated. . They take the car, sell it at an auction and you pay the difference. Fairly sure this is how it works with lexus. Not sure about other brands.

You will need a co-signer. Getting first car lease is hard. DO NOT put the money down. You will loose most if the car is totaled or stolen.

BMW is expensive car. There are plenty of cheap nice driver cars out there.

What I would really suggest is to put some money in the bank and just buy a car. Put $20-$30k away and get a used M3 with low miles. Or, even get a 2 year old CPO - still much cheaper. But save the money upfront and decide how much you want that car once you have the money.

It is also possible to lease a used 2-3 years old car. I don't know how much it would be but I'm sure helluva cheaper than new as the car depreciates most at the beginning.

[Kevin__]

Originally Posted by xsracer

Kevin, while I definitely agree what most people are saying here, about saving money in retirement accounts, investment, moving out, etc, I also understand your position a bit - you live with your parents, have no expenses and some money coming in. Still, paying 1k/mo for a new car lease is crazy. And I'm not sure if you were to get a lexus, how you would get out of the lease. The process is pretty complicated. . They take the car, sell it at an auction and you pay the difference. Fairly sure this is how it works with lexus. Not sure about other brands.

You will need a co-signer. Getting first car lease is hard. DO NOT put the money down. You will loose most if the car is totaled or stolen.

BMW is expensive car. There are plenty of cheap nice driver cars out there.

What I would really suggest is to put some money in the bank and just buy a car. Put $20-$30k away and get a used M3 with low miles. Or, even get a 2 year old CPO - still much cheaper. But save the money upfront and decide how much you want that car once you have the money.

It is also possible to lease a used 2-3 years old car. I don't know how much it would be but I'm sure helluva cheaper than new as the car depreciates most at the beginning.

I was thinking to avoid a co signer get a 2014 Lexus pay half of what the car cost. Then 8-12 months from now pay whatever else is left to pay and then I should be able to get the Lexus no prob. Or when I hit 45-50k in the bank I can get the car then move out. I just don't want an old car.

[AndyLu]

Move out be on your own. Build your credit so you don't need a co sign