M4 Upgrade
Hi guys, I recently landed a job at Grant Thornton, (out of college). I'm making a decent amount of money and I've saved quite a bit over the years. I've also had a side hobby buying and selling shoes which has made me some decent money as well.
Here's the thing, I want an upgrade. I've had my G37 for quite some time and for some reason it's lost its luster with me. I test drove the M4 the other day and automatically fell in love.
However, I'm at a cross roads. This is my first major purchase. I'm currently paying rent of around 1.5k, I'm paying off 1k a month in student loans, and the car payment will be roughly $760 a month. It'll leave me with a little over $300 a month to "play" with. I know this doesn't sound like a lot and it most certainly isn't, but I also don't plan on living at my apartment for more than a year. I'm also under my parents insurance, etc.
The car payment will be for 6 years. The car is basically fully loaded, white exterior with red interior, 1k miles and it's a convert. I'm putting my G37 down and around 17k. If I sell all my inventory in shoes, I will still have around 15k left. So it's not like I'm throwing everything away.
Someone please talk sense to me. Please no bashing, just someone whose young seeking friendly advice. Another reason I want to make this purchase is because I feel like in the future I won't be able too if I want to start a family and everything down the line.
I'm financing not leasing.
TDLR -- Buying M4 need advice, will only have $300 a month after all expenses are paid, still do it?
Here's the thing, I want an upgrade. I've had my G37 for quite some time and for some reason it's lost its luster with me. I test drove the M4 the other day and automatically fell in love.
However, I'm at a cross roads. This is my first major purchase. I'm currently paying rent of around 1.5k, I'm paying off 1k a month in student loans, and the car payment will be roughly $760 a month. It'll leave me with a little over $300 a month to "play" with. I know this doesn't sound like a lot and it most certainly isn't, but I also don't plan on living at my apartment for more than a year. I'm also under my parents insurance, etc.
The car payment will be for 6 years. The car is basically fully loaded, white exterior with red interior, 1k miles and it's a convert. I'm putting my G37 down and around 17k. If I sell all my inventory in shoes, I will still have around 15k left. So it's not like I'm throwing everything away.
Someone please talk sense to me. Please no bashing, just someone whose young seeking friendly advice. Another reason I want to make this purchase is because I feel like in the future I won't be able too if I want to start a family and everything down the line.
I'm financing not leasing.
TDLR -- Buying M4 need advice, will only have $300 a month after all expenses are paid, still do it?
Not worth it.
My house and ALL my cars are paid off, I have no bills, Im either looking at a GTR or an M4.
I drove a GTR on a track, and an M4 on the Autobahn both to its limit.
What sticks to the back of my mind when Im ready to buy either one:
WHERE THE **** AM I GOING TO DRIVE THESE ON US HIGHWAYS WITHOUT GETTING ARRESTED???
Maybe look into an M2, same HP as a G37, but 360 lbs of torque.
To the guy who hates the new BMW sound, who cares when you blow by German police at 180kph, and accelerate to 240kph
Registered User
Joined: Aug 2015
Posts: 70
Likes: 9
Don't do it ! I have a friend that was in a similar situation you're in. Collage grad, got a new job that paid well and went bought a brand new AUDI A7. Still has debt from his loans, paying out the *** in rent and he still has a NICE AND RELIABLE car that is paided off (2010 Civic SI). The first month it was fine and dandy, until reality hit I guess. Long story short, he is having buyers remorse but is trying to make it. Didn't anticipate insurance, gas (esp driving it everyday), etc. So now he trying to make it a wkend car to curb the cost by driving his Civic to work. I tell him to maybe get rid of it but he loves the attention, looks, props etc so he is determine to make it work. And in this process, he cant do much with the fellas anymore. Gotta stay within budget which sucks. We use to eat out every weekend, get drinks, etc but we rarely see the guy. Last time we spoke he was at the grocery store shopping for ramen noodles and spam.
Take the advice you are getting bro. Living that life sucks. Invest in your financials a bit and set your self up to enjoy it later stress free.
Take the advice you are getting bro. Living that life sucks. Invest in your financials a bit and set your self up to enjoy it later stress free.
I am somehwat in your shoes, college grad, new job with pretty good money. I decided to get a used G opposed to something like a loaded 15' Mustang GT or a lease on a 335. $300 is definitely not enough money to have left over for food, expenses and stuff. Plus, if you are young like me, I am sure you are going to want to do some stuff like travel, grab a drink with a buddy, or try some new restaurants in your area. $300 a month, you are going to have to budget pretty stricktly just to have that car.
While the M4 is a badass car, I think you should hold onto the G. Do a couple of mods to make it refreshing again.
While the M4 is a badass car, I think you should hold onto the G. Do a couple of mods to make it refreshing again.
Registered Member
Joined: Apr 2011
Posts: 1,838
Likes: 445
From: US
Travel > socializing >>>>>>>>>>>>>>>>>>>>>>>>>> car
(for me at least)
I was in your shoes just a few yrs ago, but I was also debt-free. Investing in experiences over material things is important, especially when you're young. The exposure you'll get will shape your perspective, which can be life changing. Broadening your horizons, visiting places you would have never been, meeting people you would have never met can really clarify your view on things. Even move to different cities.
Know the above sounds awfully cliche, but I really feel strongly about it. Know it can be hard to leave the comfort zone, and know getting out there isn't for everyone, but can't help to look at the folks I know, who blew their income on fancy cars and things, and have not much to show for it in the end, and they just haven't come a long way in life, and I think it in part has to do with the kinds of decisions they've made.
I'd suggest keeping your car, if not, keep your new car payments at or below 10% of your monthly NET income.
(for me at least)
I was in your shoes just a few yrs ago, but I was also debt-free. Investing in experiences over material things is important, especially when you're young. The exposure you'll get will shape your perspective, which can be life changing. Broadening your horizons, visiting places you would have never been, meeting people you would have never met can really clarify your view on things. Even move to different cities.
Know the above sounds awfully cliche, but I really feel strongly about it. Know it can be hard to leave the comfort zone, and know getting out there isn't for everyone, but can't help to look at the folks I know, who blew their income on fancy cars and things, and have not much to show for it in the end, and they just haven't come a long way in life, and I think it in part has to do with the kinds of decisions they've made.
I'd suggest keeping your car, if not, keep your new car payments at or below 10% of your monthly NET income.