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      10-06-2021, 03:24 PM   #89
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Originally Posted by 2011ninja View Post
Live life without regrats…
That's terrible advice
Since you said it's terrible advice I going to change it to…

Live life to foolest and without regrats
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      10-06-2021, 04:25 PM   #90
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Originally Posted by wooblewobble View Post
Maybe net worth (and age) is the better question to ask?
Absolutely. $200k salary that you spend 100% of is not being 'wealthy.' $1,000,000 net worth with guaranteed income each month that covers 100% of your costs is very comfortable.
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      10-06-2021, 06:34 PM   #91
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Quote:
Originally Posted by wooblewobble View Post
Maybe net worth (and age) is the better question to ask?
Absolutely. $200k salary that you spend 100% of is not being 'wealthy.' $1,000,000 net worth with guaranteed income each month that covers 100% of your costs is very comfortable.
Real wealth!
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      10-08-2021, 07:33 AM   #92
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Originally Posted by bsmf8x View Post
BMW owner is a very generic term. You can lease a 330 in the 400's or an M8 for over 1500 a month. With that being said, I know tons of people with 2, 3 and 4 series who don't make 6 figures. I also know people who make 6 figures a month and drive an Acura or Jeep. A car is literally the worst way to tell someone's financial position, if that's what you're looking at when someone drives a bmw.

I put a lease under my name for $400 a month when I was in college and had almost no income, like 10k a year from working jobs on the side.. lol (I was 19 at the time but had them run my credit for shits... I got tier 1 rates too lolol thought I'd need a co sign)
Hey now, I like Jeep's, leave them out of this!

Truth be told, luxury and advanced features in other brands have been outpacing BMW for years.

I get a kick out of this thread or something like it always being started at some point in every bimmer forum I've seen for the last 20 years. Not just M either. I assume 95% of owners still make their money selling cell phone accessories out of a kiosk at the mall or determining the sex of a baby chickens.
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      10-08-2021, 06:34 PM   #93
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Originally Posted by Randy Johnson View Post
Is is safe to say the 99% of bmw owners make over 100k? With these cars costing so much I'm just wondering where owners are in terms of salary? Not sure who people can afford so much for a car these days.
PS: I buy used.
With big boys bills as well you need to make a lot more than 100k to properly own expensive cars like an M car.
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      10-08-2021, 09:04 PM   #94
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Originally Posted by BGM-M3COMP View Post
If you have good credit, it's relatively easy, as long as you actually make a decent amount, doesn't have to be over 100k.

If you lease, even easier.

Some people have businesses, and can write off cars like these. Not sure how that works entirely but my friend has an LLC and a brand new escalade. He said it was basically, "free". I'm sure he's making some type of payment though, not sure what or how much.
It's basically if you drive a lot for work you can deduct, dollar for dollar, the percentage of the lease cost that you use the car for business. The catch is, driving to and from your principal place of business doesn't count. Say you have an attorney who drives his F95 1000 miles a month. He works from home, but commutes to his main client's office, court and other business related errands to the tune of 700 miles/month. The remainder of the mileage is personal or non-business related. Say the car payment, gas, insurance and non-warrantied maintenance averages, for the sake of round numbers, $1000 a month. He/she would be able to deduct from their gross income, provided they itemize and use the actual expense method, 70% of that cost per month or roughly $700/month or about $8400/year. That's very similar to my example only the numbers are a bit different and since COVID I'm basically only driving for work. The net effective car payment is almost $150/month. Lowers your income, which lowers your tax bracket. And it's all perfectly legal. Don't even need an LLC really.
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      10-08-2021, 09:59 PM   #95
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Originally Posted by pookiemalibu View Post
Don't even need an LLC really.
Yep, no need for a LLC. I have a LLC , but at $2500 per year it’s a bit costly for my business. But the LLC fees are a tax write off so there’s that.
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      10-08-2021, 10:12 PM   #96
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      10-15-2021, 11:09 AM   #97
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That's actually funny because it's true- in USA Credit>>money.

Makes you wonder why. The creditors don't make proper money off us that pay in cash, they much prefer financing and leases. Middle men such as mortgage brokers, banks and car dealerships rely on this to make profit.

They aren't really selling you the car or house, they are selling you the loan.
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      10-15-2021, 12:52 PM   #98
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My wife makes all the money. I can do whatever I want as long as I stay in shape.

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      10-15-2021, 01:14 PM   #99
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Quote:
Originally Posted by amzbimmer View Post
That's actually funny because it's true- in USA Credit>>money.

Makes you wonder why. The creditors don't make proper money off us that pay in cash, they much prefer financing and leases. Middle men such as mortgage brokers, banks and car dealerships rely on this to make profit.

They aren't really selling you the car or house, they are selling you the loan.
Exactly! And if you’re one of the privileged who has visibility on how credit really works you’d see what a giant scam it is with one goal-keep those scores low so you charge interest rates that would make a shylock feel guilty.
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      10-15-2021, 03:43 PM   #100
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So no one is going to share, huh?

I was looking forward to my ego being beaten down by all the people who make more than me but, I guess thats not going to be the case.
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      10-15-2021, 04:12 PM   #101
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Originally Posted by modat View Post
So no one is going to share, huh?

I was looking forward to my ego being beaten down by all the people who make more than me but, I guess thats not going to be the case.
My gross salary is $75K. I make another $15K in commission normally
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      10-15-2021, 05:02 PM   #102
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Originally Posted by Likeanowl View Post
Yeah I make $12 a year
Damn, you beat me by a couple of dollars
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      10-15-2021, 08:47 PM   #103
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      10-15-2021, 10:10 PM   #104
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I made $150k in the last 24 months. I know that is not a lot in this forum but I am 22 and financially I don't have a family to take care (I don't even have a girlfriend). Manual M3 is my dream car for years and that is a lot of money for me! However, the feeling of getting a car with my own money is totally different from asking my parents to buy it!
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      10-15-2021, 11:05 PM   #105
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I bought Dogecoin at .0005 and now I can afford an M3c and a vacation house.
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      10-15-2021, 11:10 PM   #106
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Originally Posted by crossmen00 View Post
I made $150k in the last 24 months. I know that is not a lot in this forum but I am 22 and financially I don't have a family to take care (I don't even have a girlfriend). Manual M3 is my dream car for years and that is a lot of money for me! However, the feeling of getting a car with my own money is totally different from asking my parents to buy it!
It's actually more than you think. Most of us are middle class on here.
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      10-16-2021, 04:02 AM   #107
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I could probably afford to drive a Ferrari if I decided that was more important than eating wherever I want, vacationing wherever I want and wearing whatever I want, but it's not so I (will soon) drive an M3 and do all of the things. Shit, if I didn't put away for the future, I could probably also have the M3 as my daily. It's all about priorities, perspective and your comfort zone. I also have half a million dollars in student loans and I know plenty of people that put their life on hold and lived like a college student for a few years to pay that off before living their best lives... I, myself, did not have the patience.
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      10-16-2021, 06:59 AM   #108
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Originally Posted by modat View Post
So no one is going to share, huh?

I was looking forward to my ego being beaten down by all the people who make more than me but, I guess thats not going to be the case.
There's always going to be folks on a forum like this that make a lot of money. A mill, two a year. To them, an M3 is a great balance. Not too flashy to make the coworkers feel bad, while also being luxurious and fun as hell.
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      10-16-2021, 07:11 AM   #109
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Man, I make like $2 an hour and ALL THE FRESCA I CAN DRINK!

I can't believe we drove around all day, and there's not a single job in this town. There is nothing, nada, zip! Yeah! Unless you wanna work forty hours a week.
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      10-16-2021, 07:12 AM   #110
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Originally Posted by modat View Post
So no one is going to share, huh?

I was looking forward to my ego being beaten down by all the people who make more than me but, I guess thats not going to be the case.
Think you're gonna have a hard time getting people to share. It's a double edged sword. If one makes a lot of money, they may not want to share as they'd feel like a pretentious asshole who's showing off, and worried people will judge them. On the other hand if someone doesn't make much, they might be self conscious and worried people will judge them.
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