Am I crazy for wanting to lease a top-of-the-line 3-series out of college?

Sazerac · Jun 21, 2011

Originally Posted by GreenFrog

I actually did live on my own for about a month while I interviewed with firms. But now that I have offers and am done with interviewing, I thought it was a huge waste of money to continue living there and spending so much money on food.

You see how someone who would make the above statement and someone who should be buying (well, renting) a $60k car cannot possibly be the same person, yes?

Anyway, good decision on not getting the car. The difference between an enthusiast and a douche is the difference between someone who can afford the car and someone who cannot.

GreenFrog · Jun 21, 2011

I think another huge reason as to why I decided to forego the new bimmer is because I'd be commuting to work every single day via public transportation. Driving to and from work is just not part of the equation, so I really wouldn't 'need' a car. It would be purely pleasure.

Driving in downtown Boston is probably the worst thing ever, and parking there is at least $40 a day --> $800 a month alone in parking!!!

poissa · Jun 21, 2011

There's too much of a sense of entitlement in America. We're obvlious to our fortunes because we come from middle class backgrounds.

My parents are immigrants. They have lived the sacrifices necessary to make ends meet, to see kids through college, to buy a house, etc. When we start looking at what it takes to make it through forty-to-fifty more years of life we quickly find having money in the bank is what keeps us financially solid.

Now that said- I've made and blown bread but that comes with age. I'm not yet 30 but I'm trying to give you advice that others our age should be giving someone trying to make it up the ranks. If you start with this car today you'll have a harder time sacrificing later. Gas prices might go higher yet- will you be able and willing to pay $5, 6 or more at the pump? Are you going to begin sacrificing driving at that point at time.

Dashaansafin · Jun 21, 2011

Seriously? You were bitching and creating a thread every second through your interview process, then you got your "dream" job as a consultant (we dont know where yet), and you want to lease a BMW while you are mostly using PUBLIC TRANSPORTATION to work????

Unless you are a starting analyst at an Ibank, you'll be blowing everything you have on a stupid ass 3 series. Hell even if you were an analyst at an ibank, you would be marsupialed to spend that much. Whats the starting salary? Is it MBB? 80k?

But its your money. Just dont tell anyone at the office what you did.

GreenFrog · Jun 21, 2011

Originally Posted by Dashaansafin

Seriously? You were bitching and creating a thread every second through your interview process, then you got your "dream" job as a consultant (we dont know where yet), and you want to lease a BMW while you are mostly using PUBLIC TRANSPORTATION to work???? Unless you are a starting analyst at an Ibank, you'll be blowing everything you have on a stupid ass 3 series. Hell even if you were an analyst at an ibank, you would be marsupialed to spend that much. Whats the starting salary? Is it MBB? 80k? But its your money. Just dont tell anyone at the office what you did.
calm down man. it would have been a lease, which is not the same as BUYING a $60k car. and no, i am not going to divulge where exactly i work. starting salary including bonuses and whatnot amounts to 75k. and like i mentioned, i am a HUGE car enthusiast. i LOVE driving. i drive for the sake of driving, okay? you probably don't even think twice when you get into your car and just drive to point b. i make excuses to drive. i love stick shifts. you probably drive an automatic (if not, i apologize; just generalizing based on the population and the odds of you, a person on the internet, falling within that demographic). find me a non-luxury, rwd car that handles as well as the 335is coupe (and i repeat, HANDLES AS WELL). there are none! and gee, i dont think i was bitching at all in my threads.. i was merely asking for advice, cause.. you know.. that's what that subsection is for.

Douglas · Jun 21, 2011

Originally Posted by GreenFrog

find me a non-luxury, rwd car that handles as well as the 335is coupe (and i repeat, HANDLES AS WELL). there are none.
the 328 coupe

or 135

Dashaansafin · Jun 21, 2011

Originally Posted by GreenFrog

calm down man. it would have been a lease, which is not the same as BUYING a $60k car. and no, i am not going to divulge where exactly i work. starting salary including bonuses and whatnot amounts to 75k. and like i mentioned, i am a HUGE car enthusiast. i LOVE driving. i drive for the sake of driving, okay? you probably don't even think twice when you get into your car and just drive to point b. i make excuses to drive. i love stick shifts. you probably drive an automatic (if not, i apologize; just generalizing based on the population and the odds of you, a person on the internet, falling within that demographic). find me a non-luxury, rwd car that handles as well as the 335is coupe (and i repeat, HANDLES AS WELL). there are none! and gee, i dont think i was bitching at all in my threads.. i was merely asking for advice, cause.. you know.. that's what that subsection is for.
75k and you want to lease a 60 (I thought it was 50k) car?? I love cars too. That doesnt mean im going to blow most of my salary on a used ferrari. I work an an analyst at an ibank. Im sure some of my fellow analysts love cars too. Everyone lives inside the city and has literally no need for a car. I remember one kid bought a 3 series and the MDs laughed thier asses off. But w/e its your own money. Im far too lazy to break down what 75k looks like after taxes and the cost of living. And yea maybe I was a bit harsh on the bitching part. But I literally saw a thread on the front page everytime I went to that subsection. Honestly do what you like. Just dont go into debt for a 3 series.

GreenFrog · Jun 21, 2011

Originally Posted by Douglas

the 328 coupe

or 135

i actually did test drive the 135 convertible yesterday.. BLAST to drive hahahah wow. like a go-kart!

a lot more affordable as well; but, alas, it's a luxury car! i also dont like the styling of it very much.

GreenFrog · Jun 21, 2011

Originally Posted by Dashaansafin

75k and you want to lease a 60 (I thought it was 50k) car??

I love cars too. I work an an analyst at an ibank. Im sure some of my fellow analysts love cars too. Everyone lives inside the city and has literally no need for a car. I remember one kid bought a 3 series and the MDs laughed thier asses off. But w/e its your own money. Im far too lazy to break down what 75k looks like after taxes and the cost of living.

And yea maybe I was a bit harsh on the bitching part. But I literally saw a thread on the front page everytime I went to that subsection.

i calculated my take home pay and after rent, utilities, cellphone bill, insurance, gas, food, partying money, i still have around $2k to play with in terms of a car.

and the car came out to 58k msrp, but they were willing to lease it to me at invoice of 54k.

Sazerac · Jun 21, 2011

By what foreign and apparently magical system of mathematics does $75k/annum give you $2k a month "to play with" for a car? That's just under a third of your gross monthly income.

GreenFrog · Jun 21, 2011

Originally Posted by Sazerac

By what foreign and apparently magical system of mathematics does $75k/annum give you $2k a month "to play with" for a car? That's just under a third of your gross monthly income.

I phrased that wrong. What I meant is that after all my expenses, I should have around $2K to spend/save.

So technically, I could spend $2k a month on just a car, but I know that's beyond marsupialed as I plan to save at least $1K a month and contribute to my retirement funds, so really, I think my max budget for a car is around $500 a month.

I'm thinking about leasing a GTI for around $375 a month. It's plenty fast, fun, and not too flashy. Downside is it's FWD, but give and take I guess.

gort · Jun 21, 2011

A few years from now you will probably want to buy a home. At that point, you will wish you had more money in your savings for a bigger down payment, but instead you spent a lot of your first few years of responsibility-free income on a car payment that you didn't need.

I did the exact same thing when I finished college and got my "baller" job offer.

yjeezle · Jun 21, 2011

Originally Posted by Sazerac

By what foreign and apparently magical system of mathematics does $75k/annum give you $2k a month "to play with" for a car? That's just under a third of your gross monthly income.
Roughly 6.4k per month. After taxes prob around 5k. Rent and utilities is 2k. 3k left for gas and food, which I will say is about 1.5k so 1.5k before savings or 401k...

yjeezle · Jun 21, 2011

Oh never lease

Dbear · Jun 21, 2011

I had a 3 series in college and still driving it today, it's about 8 years old. -Pros: Drives awesome. No joke. When I drive other people's car, I'm like "WTF?" -Cons: Expensive maintenance. -Cons: Stereotype as a douchebag car. I know you're leasing, jus sayin. No matter how you look at it, you're paying more now and down the line for the thrill of driving. Only you can decide if its worth it or not.

Am I crazy for wanting to lease a top-of-the-line 3-series out of college?

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