My maxima just turned 200,000 last weekend. I've been looking really hard at a used 540i, a new Mini Cooper S, an E36 M3, or wait for that really cheap E39 M5. I love my Maxima, but I've always lusted for a Bavarian since I was a little kid (yes, emotion is a large part of this). I was gonna go test drive a 540i on Tuesday, but I found something else even more compelling; a house at the right price.

I live with my parents and gave myself a 5 year time horizon before being ready to own a house, however my parents have been wanting to buy an investment property with me for a while since I work for a bank. I want the house and I can put away the idea of a new[er] car for the time being if it means I can own a house. At least that way my money will truly go into an investment. In the meanwhile, my maxima, which I own outright, will just be loved until I can get my first BMW (I dunno if I can part with my first car).

Anyhow, thanks for listening .... I just needed to let that out to other gearheads since none of my other friends just seem to understand

 

congrats on hitting 200k...

how are you still living with your parents but have enough money to buy a BMW?

get a bus pass and an apartment dude

 

I have enough money to buy the BMW because I live with my parents (rent free). The question is; is it a wise way to spend my money? All logic says "no" since cars, unlike real estate, will depreciate in the short and long term. Also, the majority of my net worth (about a cheap E39 M5's worth) is cash.

The one and ONLY thing that makes me think twice is the fact that I'll probably have to wait well over ten years before I can finally, comfortably afford the new[er] car.

I was thinking about getting the bus pass, but it's not worth it when you've got a girlfriend and all your friends live 20 miles away. As for the apartment, if I'm paying money for the place I live, I want that money to go to me in the form of mortgage pmts to increase my net worth, as opposed to my landlord in the form of rent.

 

A car is a luxury, not an investment. However, it can be seen as an invesment in your own pleasure I guess. If you really want the beamer and can still afford a less expensive house, f*** it, get it. Or, you could take all the money you would spending on that beamer and make one Bad A$$ max.

 

I've thought a few times about putting money into the max for more than just maintenance purposes. Everytime I did that, it went to the bimmer fund. House prices here in the greater vancouver area and greatly inflated and not many young people can afford to own - I'm lucky I work for a bank. Getting a less expensive place means getting a condo, which means strata fees which is like rent to me. As for dropping my bimmer fund into my max ... hahahah ... well, I'll just say that I, too, would like to see someone put $35,000 into a $5000 car.

 

Pumping money into cars is stupid, I did that for years. I finally bought a house when I was 29...Everytime I think of how much money I wasted and could have put towards a house it makes me crazy.