Last post on May 09, 2013 at 9:32 AM
You are in the Sedans
What is this discussion about?
BMW 3 Series, Infiniti G37, Acura TL, Lexus IS 350, Mercedes-Benz C-Class, Cadillac CTS, Volvo S60, Audi A4, Acura TSX, Car Comparisons, Sedan
#15768 of 16087 Re: BMW and me.... [flightnurse]
Mar 22, 2013 (12:14 pm)
And how many doctors file for bankruptcy? As far as I heard, doctors are just terrible business and finance people (not all of course, but as a social group). Buying/leasing expensive vehicle while $100K+ in debt is exactly an example one could give to confirm this opinion.
25 years of paying off student loans is entirely matter of choices made in this country. It is the order of items they decided to pay and acquire that made them paying student loans in 25 years. I know plenty of people who came out of NOTHING, had tens of thousands in student loans and were free of them within 5-10 years of graduation. It is doable, all it takes is NOT TO BUY STUFF.
#15769 of 16087 Re: BMW and me.... [dino001]
by kyfdx HOST
Mar 22, 2013 (12:57 pm)
It is doable, all it takes is NOT TO BUY STUFF.
Are you sure you passed the test? That seems un-American...
#15770 of 16087 Re: BMW and me.... [kyfdx]
Mar 22, 2013 (1:14 pm)
I was hiding my true feelings.
#15771 of 16087 Re: BMW and me.... [dino001]
Mar 22, 2013 (1:26 pm)
. . . all it takes is NOT TO BUY STUFF.
Very true, but many people figure that if it's good enough for the government, it's good enough for them -- spend as if there's no tomorrow.
The morons (like me) who do things responsibly nearly always end up paying for those who don't. Even/especially at work (Fortune 100 company) I've seen this stuff happen. My budgets that were in great shape in September get cut to zero so that the politicians (works every time it's tried) who have run out of money could get to the end of the year.
Sink or swim was what got this country to where it was a few decades ago. It remains to be seen what the new approach will yield. The good news is that I'll be dead before it plays out.
#15772 of 16087 Re: BMW and me.... [dino001]
Mar 22, 2013 (1:27 pm)
I concur. A husband and wife in our group fo friends are physicians. They just paid off their student loans from med school after almost 20 years. They live in a nice but not ostentatious home. She drives a Sienna and he an A4. They live well below their means and are now saving to pay for two more college educations.
#15773 of 16087 Re: BMW and me.... [dino001]
Mar 22, 2013 (2:16 pm)
just because you have some student loans doesn't mean you have to live like a pauper or drive a junker.
My son is about to graduate, and will have some (but not exorbitant) student loan debt. If (please!) he gets a job soon, we will have to do something about a car, because I don't really want to send him away to depend on the well used old one if he is depending on it to commute.
so, a lease may make the most sense, since there won't be any money left really to put down on something decent, and you would still need a large loan.
so, the student loan will be just 1 more monthly obligation in 9 months when they start, though putting extra toward it will likely make a lot of sense, depending on the interest rate.
Still, getting started in life, as long as the payments are not a problem, no reason not to live a normal life.
Now, my nephew the intern, I think he has close to 300K by now piled up (200?) In any case, I told him to just budget it like a 2nd mortgage!
#15774 of 16087 Re: BMW and me.... [stickguy]
Mar 22, 2013 (5:37 pm)
Good response. Agree- completely- infact a lease in some cases can be a cheaper alternative monthly then a used car- look you can get a bmw 328 for 339 a Month (not a leader ad, it's on BMW commercials). Could prob do better in some markers. Why do you think the great bmw stays in biz- it sells cars to non enthusiasts.
Others who have yet responded to there "backwardsb hat" comments cannot take the youth buying the prestigious bmw, so called enthusiast. Lets go on a road trip with the GFs - but please don't tell us who should be driving such cars.
Act as if.
#15775 of 16087 Re: BMW and me.... [sweendogy]
Mar 22, 2013 (6:59 pm)
I agree people can do what they want, but how much goes down on that $329 BMW lease, 3 or 4 thousand? If they have that kind of money to put down on a lease they could just buy a pretty good used car for that, no it won't be fancy, but it would be more financially sound, that said that certainly isn't what they have to do, and they are free to go for the fancy car if they want, it is one of the reasons we live in the area we do, people are allowed to make their own decisions, but they are also supposed to live with the consequences of those decisions, not go blaming someone else for them and ask for handouts. Anyway I am getting off topics so I am going to stop.
#15776 of 16087 Re: BMW and me.... [scwmcan]
Mar 22, 2013 (7:17 pm)
Scwman- classic responce - my rebut - evenif it's 4k down and that's an if- you get a brand new BMW (with "free maintence") for 3 years - and if you are a recent grad and have an entry level job- you don't have to worry about a new transsssion -'or something similar that you would get in a used car- plus you don't have to pay the full nug at pickup. - a good used car that's 5 years old depending on model is a min 10k. Lux cars could be close to 20 or more.
Not saying anything wrong with a used car - but a new car under certain lease requirements and given certain situation is not a bad option- and could be a better option. Rock on
I got an integra GSr in 2000 for 25O a month 1500 down- could not get a better deal- had a 3 year lease- warrantee - no issues- I was a young buck just out of college - last 3 cars have been bought new- all bought- but even if I had the money I would still finance because the rates are so low- case in point- after trade we owed less then 5k for my wife's crv- I financed for 60 mths at .9 because rate was so low- not because we didn't have the extra 5- all about what fits
#15777 of 16087 Re: BMW and me.... [scwmcan]
Mar 22, 2013 (7:14 pm)
the BMW leases are usually $3,500 IIRC. sometimes a little lower. but rule of thumb, add about $100/month to get a nothing down number. No longer silly cheap, but often still a good deal.
and $3,500 down on a mew 328 is going to leave a eye watering payment!