Can I afford a BMW?

Feb 13 92 Comments

TC: $150K
Settled in Austin, have a mortgage of $3.5k and living with wife and 2yr old.
Wife earns same TC as me.

Can I afford a $75k car?

406 PARTICIPANTS SELECT ONLY ONE ANSWER
VOTE VIEW RESULT
92

comments

Want to comment? LOG IN or SIGN UP
  1. TOP
  2. RECENT
  3. OLD
 TOP 92 Comments
  • IBM
    eBEz50

    Go to company page IBM

    eBEz50
    Calculate the monthly cost of the car and try putting that much amount of money away every month. See how that feels and if you’re comfortable with it or not.
    Feb 13 7
    • OP
      The car is for me, I plan on upgrading. I drive a beater, and with my love for cars thought I'd upgrade to a Bimmer, she is okay with the expense. I'm just a bit afraid of taking this huge expense.
      Feb 15
    • New / Product
      lac-310

      New Product

       lac-310
      Oh okay. I hear. Please live a little. Listen to your wife. She’s right here. Making $300K and driving a beater during your best years

      Most people when they get old they reflect and regret a lot of things. Mainly not living enough
      Feb 15
  • Meta
    gh34sft6

    Go to company page Meta

    gh34sft6
    Just buy a reasonable car from Toyota or Hyundai or Kia. BMWs aren’t just the price tags, they have higher upkeep and more frequent maintenance. You also don’t get as many features in the base model and have to buy multiple bs packages to get a competent car. Also your TC isn’t enough for a BMW. You also have a kid and a mortgage going smh. How do you work at Vanguard and be this bad at finance?
    Feb 13 10
    • Xerox
      michael137

      Go to company page Xerox

      michael137
      Metamate, I know it’s hard for you to read because you are busy shagging other Metamates 😃. Read my response again, I don’t work for Xerox.

      “my stock’s still more than your TC even after being down” - still dog shit is dog shit, no?
      Feb 17
    • Meta
      st32ghd78

      Go to company page Meta

      st32ghd78
      Aww xerox coping hard here. Don’t worry if making meta to be the villain in your life helps you cope with being a loser then help yourself lol.
      Feb 17
  • New
    dhtdhu

    New

    dhtdhu
    Afford, yes. Financially smart, probably no. If you really enjoy a nice car go for it. You only live once
    Feb 13 6
    • Intel
      CPnN55

      Go to company page Intel

      CPnN55
      No one buys luxury cars because it's financially smart, lmfao. If you want to be smart, buy a certified Toyota/Honda sedan or something. You don't though, you want the ultimate driving machine.
      Feb 25
    • Apple
      butch tru

      Go to company page Apple

      butch tru
      Financially smart advise - live with a friend and use their car 🤣.
      Mar 1
  • SAP
    fl400

    Go to company page SAP

    fl400
    I make 260k TC and am getting a 60k car this year. I say go for it.
    Feb 13 2
  • New / Creative
    welew

    New Creative

    PRE
    State Farm
     welew
    I don't know your reasons behind wanting a BMW, but my advice is to remember to account for insurance, maintenance, and how it fits into your life. Unless it's of high significance/importance to you, I wouldn't recommend it.
    Feb 13 16
    • New / Product
      lac-310

      New Product

       lac-310
      Yeah. I hear you
      I don’t make that kind of money, nor do I have a wife or kids

      I just question, what’s the point of making all that money (God like) if you don’t want to even buy a modest middle class car (Lexus RX, BMW X5, Mercedes GLE) that we all grew up around (if you grew up in middle class suburbia)

      Like what’s the point of grinding that hard to make all that money?
      Feb 14
    • OP
      Hey everyone, I went through all your thoughts and appreciate your advice on the matter. I just want to say that I'm glad that you bought up important points of how my decisions can affect my partner as well. Having said that, I pay for my mortgage and the car, I don't want my wife to pay for it even though she would gladly do it. Call it the male ego or something else, but I just don't want to place that upon her. She values traveling and I love cars, it's a tug and pull when balancing our relaxing time. Our main priority is our son, he is our utmost and highest priority in life and we want to give him the best childhood. I understand the point isn't to grind always, I'm also facing a decision blocker hence opened the question to everyone. Maybe if I become okay with paying X amount for the loan I can take it on, but as of now the thought scares me.

      Thank you all
      Feb 15