WHAT TO DO!?

[GrussGott]

Originally Posted by Kevin__

Lol I love the fact that older people tell us straight forward how things are, you people tell us exactly what we don't want to hear then end up regretting we didn't listen to you guys. I wanna listen to you guys but then every time I see a M4 or M3 I cringe.

There's a great reason for that Kev, your brain is under-developed.

But don't worry, it's normal. See the front part of your brain, called the pre-frontal cortex, doesn't fully develop until you're about 25 and it's the part that's involved in making good decisions. That's why you're so prone to doing stupid shit.

So the trick is to stop listening to that part of yourself - but you may not be strong enough to overcome it. It's mostly genetics that'll determine that.

I gotta say, watching you self-implode makes me cringe but, just like a train wreck, it's hard to look away.

[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.

[AhsanU]

You're 20. 20. Two zero. What the hell.

Put it this way - you're on a date with a beautiful woman, and you're doing everything you're supposed to. She's into you, and you know she's willing to spend the night with you. The valet pulls your car around, and she's even more impressed with your M3/M4. But what happens when she offers to spend the night with you? "Oh yeah, sure! I live with my mom and dad though, so.. hope you're cool with that." Nope.

Save your money first, and buy a house/condo/apartment/any means of living that isn't your parent's place. It is both a wise financial decision (as having equity always is) and a lot more appealing to women when you're able to say that you live on your own. A woman (note: woman, not girl) will be far more impressed by your house, a beat up car, and your ability to be a self reliant man than she will be by your flashy sports car and nothing else. The latter shows a lack of maturity and an inability to make smart/wise choices.

Putting something that's superfluous (let's face it, our cars are superfluous) ahead of something that's a necessity shows that lack of maturity. We can all understand your desire to have one, as we all have it too, but given your current situation - it is far more wise to invest that money into something else.

[Nomana]

More to come. Prepare, plan and get ready to uncertainty.

Be a man. Cheers

[Sedan_Clan]

Originally Posted by Kevin__

For anyone thinking I want to buy this car.... NO I want to lease I should have put that in the original post.

It doesn't matter. You're still looking at a $1k payment (...more or less) either way you slice the pie. Listen to what people here are telling you. Much of the advice comes from personal experience. I can understand your ambition, but you'd be better off saving that money. With that said, I can already sense that the advice is falling on deaf ears based solely on your responses. You are too concerned about what other people have, so that will drive your decisions. Here's my alternative advice: save for 12 months before you buy your car. Bank half of what you make toward your car fund and the other half toward your savings (...less your monthly expenses), and in a year you'll likely have at least $24k in your car fund and you won't need a co-signer. That amount of money on a USED '15 M3/M4 will leave you in a position where your car payment will be relatively affordable and you'll only have to finance +/- $25k. Saving for 12 months with that specific goal in mind is also an exercise in patience, provides you an attainable goal to reach for, will present an opportunity to confirm income stability, and you'll be able to reevaluate your priorities next Nov/Dec and decide whether buying the car is a good idea. On top of that, you'll be able to move out too. It's a win-win. Who knows!?!?....By then you may not even want the F8X anymore, and you'll be glad that you didn't commit to an impulse buy. You'll also have over $40k in the bank. At 21, that's a great head start.

[ACZakka325i]

Kevin, screw the haters. Go get the car man. Forget the advice here. You live once. It will be awesome!


Disclosure: "can I afford it?" are my favorite type of threads.

In this case, not only can you not afford it. You can't afford to shop for it.

[scott13]

Originally Posted by Kevin__

Nothing wrong with living with my parents at my age

Must be a millennial thing.

Hate to burst your bubble, but in the real world, there's a LOT wrong with living with your parents at 20.

Move out, get a shitbox car and save up for an M car. It will help build character that you're going to need later in life.

But no matter what you do, never ever lease/buy a Toyota L-series...err, sorry...Lexus.

[ElSenor]

Originally Posted by Kevin__

I'm exactly 20, I said I make 5k(plus) a month so it can change. Nothing wrong with living with my parents at my age && I planned on leasing. I asked for advice never said I was gonna actually do it.

I really don't understand your mentality at all. I just turned 30 this year and I couldn't wait to leave my parent's home when I was 18. Nothing my parents did bad that made me want to leave, they just raised me to have ambition. I wanted to be my own man, a drive you definitely don't have, which is quite embarrassing I must say.

Plenty more to life than nice cars man. I got my M3 at 29, just like you it was a dream car. Wanted the E46 but knew I couldn't afford it. Wanted the E92, but it would eat into a lot of my play money, and now I'm in a position making a lot more money than you do and that's when I finally pulled the trigger on an M3. Have you even paid taxes on this income you're earning? I'm curious.

Either way, you're going to do whatever you really want. Just know, living at home with an M3 is embarrassing.

[///M-er-gized]

So your 20 years old and making $60,000 a year?

My advice to you is spend your money on women. Move out. Get a nice bachelor's pad.

You can still get some great cars too. Examples: Mazda 3, Ford Focus, Honda Civic, VW Golf (maybe even a GTI)

Buying an M3 when you're only making $60,000 a year while still living at home with your parents is beyond idiotic.

[Gibson6594]

Needing a co-signer to buy something is the first red flag that you should not do it. If I was your dad, I would never cosign on this. Especially if you refused to show me your bank account.

Did/do you go to college?

I can't kill you for living at home at 20, that's not a big deal, but now is not the time to blow your income on a car.

Trust the advice in this thread. Lots of smart people here who are successful enough to be able to properly afford these cars.

[bmrwrld]

Originally Posted by GrussGott

Hi Kevin, this is 40 year old Kevin and I know you won't like my advice because, hey, I'm you! Anyway, here's what you should do: grow the fuck up.

Let me expand on that a bit ... first you need to move out, live on your own, and get a little life experience under your belt. Get a reasonable apartment, a reasonable car, and start saving like muthafucker.

Because here's the the deal Kevin: income isn't why you can "afford" things, savings is. Another name for savings is wealth, and another name for income is dependence.

And since I'm you, I know something else too: all your little hopes and dreams that seem sooo important right now? Yeah, they're all little pussy bullshit and, believe me, in 10 years they'll be totally different.

And that's the trick Kevin - you can make all your dreams 10 years from now come true by making the right decisions right here, right now. And the right decision is to live at 50% of your means and save the rest. If you do that, in 10 years you and all your friends and family will agree you're a total fucking genius. That's what you should do Kevin.

But the moron force is strong in you, so you probably won't.

I know, I'm you.

This is 80 year old Kevin, What the fuck just happened?

[GrussGott]

Originally Posted by bmrwrld

This is 80 year old Kevin, What the fuck just happened?

This is 40 year old Kevin: Time travel. Muthafucking time travel bro.

[neilum]

Troll thread, it has to be.

If it is not, I love how this kid thinks $60K a year is a lot of money, even living at home.

So you make $5K a month, after taxes you have 3-3.5. After insurance you have 3K take home. - your M payment now you have $2K. After gas now you have about 1750.

Go for it man, you are clearly in an awesome position in your life. It's an awesome idea, I am being serious.

[JRV]

Hey 20 yr old Kevin, I say stay with your parents until about 25 to save up and buy a condo or home. You are only 20, no need to move and financially kill yourselves if your parents don't mind you staying. Lease something reasonable right and now and save your dough. These cars will be available later on at much cheaper price.

[MFNATIK]

I love how many of you are giving real advice haha. I say let him learn the hard way lol

[Gibson6594]

Originally Posted by MFNATIK

I love how many of you are giving real advice haha. I say let him learn the hard way lol

Usually with threads like these, the questions and the answers are the very same, but at least he has the understanding to ask before jumping into a major mistake.

[reachcast68]

Originally Posted by neilum

Troll thread, it has to be.

If it is not, I love how this kid thinks $60K a year is a lot of money, even living at home.

So you make $5K a month, after taxes you have 3-3.5. After insurance you have 3K take home. - your M payment now you have $2K. After gas now you have about 1750.

Go for it man, you are clearly in an awesome position in your life. It's an awesome idea, I am being serious.

This is the crucial part right here. It is very hard for a young person to understand household finances before they've lived on their own. I made $55K per year when I first got out of law school (a long time ago unfortunately!) and I was amazed how little money was left over after paying rent for a modest apartment and all necessary monthly expenses.

[Kevin__]

Originally Posted by neilum

Troll thread, it has to be.

If it is not, I love how this kid thinks $60K a year is a lot of money, even living at home.

So you make $5K a month, after taxes you have 3-3.5. After insurance you have 3K take home. - your M payment now you have $2K. After gas now you have about 1750.

Go for it man, you are clearly in an awesome position in your life. It's an awesome idea, I am being serious.

It's not a "troll" 60k is a lot for me actually coming from a part time job only making 12k A YEAR. I make 5k+ it goes up or stays their just depends on how much effort I put in for the month. If you don't have some positive advice I would appreciate if you not comment at all. Been working on this for 2 years to have financial freedom and LAST thing I need is for someone like you to bring my hopes down making me feel like I haven't accomplished shit in life. 👌🏼

[Kevin__]

Originally Posted by YasM3

I work with a bunch of millennials. One thing I have learned on trying to give them advice is, they never, ever listen. So I do not even bother trying to give advice anymore. I just sit back and laugh as they snapchat them selves eating their cereal. Driving 70k vehicles then going back home to mommy who packs them PBJs everyday. But cannot afford a 1k beater because they blow it all on non sense.

All they are worried about is having nice things to show off on instagram and snapchat all day. They want the "status" They do not care about a house or real life stuff or even understand any of that stuff.

So I say, go ahead, buy the car. Blow all your $$$. Do not save it. When it comes time for real life stuff you will learn a valuable lesson on your own. Then you will look back and be like "those guys were right" All those people you showed off to, who gave you likes on social media, will not mean anything when it comes down to grown up stuff when the time comes. But hey, you can brag about your "likes" count.

Hate to admit it but the whole snapchat thing YOU have correct lol. Sad to say but no I'm starting to realize what's important and worth it and what's not but this M3 is in the way

[Sedan_Clan]

Originally Posted by Kevin__

It's not a "troll" 60k is a lot for me actually coming from a part time job only making 12k A YEAR. I make 5k+ it goes up or stays their just depends on how much effort I put in for the month. If you don't have some positive advice I would appreciate if you not comment at all. Been working on this for 2 years to have financial freedom and LAST thing I need is for someone like you to bring my hopes down making me feel like I haven't accomplished shit in life. 👌🏼

For a 20 year old.......yes, $60k a year is great money. I won't give you a hard time about that nor living at home at 20. I was still at home at 20. The difference is that I wasn't considering buying a $70k+ car; I was driving a lowered Honda Civic (....and I had two used Civic's and a used Ford Escort before I ever purchased a brand new Civic). I bought used and built up my credit. I was determined to do things on my own and get to a point where I had autonomy (...which included moving out of my parent's home). You don't need the M right now.

[Kevin__]

Originally Posted by YasM3

Welcome to real life. You are on a public forum. If you cant handle negative comments maybe you should go find a safe space with the rest of your thumbsucking, living at home friends. You should go protest if you do not get your way......

Just buy the car. That is what you want to hear anyway.

I can handle it it's just a lot of you since you have "experienced" are so judgemental. You don't know my exact financial situation besides what I provided you guys with. But I am looking and some of the advice is good.

[Sedan_Clan]

Originally Posted by Kevin__

I can handle it it's just a lot of you since you have "experienced" are so judge mental. You don't know my exact financial situation besides what I provided you guys with. But I am looking and some of the advice is good.

We aren't judging. You came here for advice.....a service......and we provided that. Just because you're prone to disregarding that advice doesn't make us judgmental. We were all twenty once. We know EXACTLY what it's like to think like a twenty year old. We're trying to save you from making some of the same mistakes that many of us made.