Salary Poll

bdejong11129 · 01-28-2011, 04:55 PM

I have always been interested in the people who buy a car and then dont drive it that much or buy a second one to drive. Kind of like buying a nice house then living in a motel.

But then again I like cars and I rotate through them about every 2-3 years. But while I do have them I drive them everyday. Gas prices, meh... I cannot see gas prices being the governing rule for me driving or not driving my car.

Like they say, if you have to ask you cant afford it and if the cost of gas makes you park it then you shouldn't own it..

I would never buy a new BMW, the depreciation just does not make any sense. I like them about 4-5 years old. By that time the value has settled, I can buy them outright which saves me money and then I can just enjoy them and drive them like they are made to be driven. They are the "ultimate driving machine" not the ultimate garage queen.

bdejong11129 · 01-28-2011, 04:57 PM

Quote:

Originally Posted by ongnoi

Or cost of the car as a percentage of one's salary?

Better yet, "Own or Loan"....That will give you a better measuring stick. I mean, any joker can go out and overextend themselves on a car loan. Not everyone can just plunk down the cash and truely own it...

3002 tii · 01-28-2011, 05:15 PM

Quote:

Originally Posted by bdejong11129

Better yet, "Own or Loan"....That will give you a better measuring stick. I mean, any joker can go out and overextend themselves on a car loan. Not everyone can just plunk down the cash and truely own it...

but paying all up front isn't indicative of anything either. depending on the time of the purchase, and what rates were, you could've possibly earned a better rate on your investment where it wouldn't make sense to pay your purchase in full. and while for others, its more about personal preference and less about the economics or cost of carry.

my previous car which was a vw was given to me at 0.9% financing. even with compounding, i was paying maybe $50 in interest. it made no sense to hunker down all that cash (even though i had it) at what was almost free financing.

BTM · 01-28-2011, 05:19 PM

Quote:

Originally Posted by bdejong11129

I have always been interested in the people who buy a car and then dont drive it that much or buy a second one to drive. Kind of like buying a nice house then living in a motel.

Different cars for different things. I would equate the situation more to buying a house (daily driver) and a lake house (weekend toy)

Swashplate · 01-28-2011, 05:19 PM

Also don't forget some of us may have this as a company car or even have a car allowance...

Swashplate · 01-28-2011, 05:22 PM

Quote:

Originally Posted by bdejong11129

I have always been interested in the people who buy a car and then dont drive it that much or buy a second one to drive. Kind of like buying a nice house then living in a motel.

But then again I like cars and I rotate through them about every 2-3 years. But while I do have them I drive them everyday. Gas prices, meh... I cannot see gas prices being the governing rule for me driving or not driving my car.

Like they say, if you have to ask you cant afford it and if the cost of gas makes you park it then you shouldn't own it..

I would never buy a new BMW, the depreciation just does not make any sense. I like them about 4-5 years old. By that time the value has settled, I can buy them outright which saves me money and then I can just enjoy them and drive them like they are made to be driven. They are the "ultimate driving machine" not the ultimate garage queen.

"Not putting miles on your BMW M Coupe is like not having sex with your girlfriend so she'll be more desirable to her next boyfriend. - J. Cowan

3002 tii · 01-28-2011, 05:22 PM

Quote:

Originally Posted by BTM

Different cars for different things. I would equate the situation more to buying a house (daily driver) and a lake house (weekend toy)

+1... originally bought the coupe when I was working in the city but now that I have a 80 mile round trip daily commute, I bought something else and use the Z only for weekends and auto-x. Couldn't subject the car to the abuse from I-95. In the 1 year I've switched jobs, my daily has seen 1 replacement windshield, 2 accidents (both the other party's fault), 1 bent wheel, 1 hub & bearing replacement, and 22,000 miles. Not to mention all the stone chips the paint has endured.

BlackMoupe · 01-28-2011, 05:30 PM

I'm a student... had money saved up to buy the coupe, but financed to build credit.

Pheonix · 01-28-2011, 05:30 PM

Wow, there are lot of high-income earners here! No wonder people look at me funny when i drive my Z4MC to the welfare office. Thank You Big O.

fighting_fish · 01-28-2011, 05:30 PM

I got my 2.5i with 45k miles on it because it was in my price range. I was actually looking to buy a used corolla (don't judge! I just wanted a reliable car that I could afford outright without loans). It just so happened that in my searches, a Z4 came up.

I never thought that I could even begin to afford a car like the Z4, so it took a while. I then looked hard into reliability and found that the Z4 is actually a pretty reliable beast.

I think at this point the Z4 had won, I tried to find a car, ANY car, that looked that good. The more cars I looked at, the more they all looked boring and the same. I can really only name a handful of cars that look as amazing, and they're all really expensive.

The kicker was I found one that was super clean, and the owner had been selling it for 2+ years, so I was able to talk him down a ton (especially since he wanted to get into a 80k+ car).

And now i'm obsessed... and when I find it, I'll have an M

dekaliber · 01-28-2011, 05:34 PM

Quote:

Originally Posted by Nikki

Yeah I actually started surfing CL for a beater to use as a daily. As much as I love the M it really just is starting to kill me as far as gas and it's such a pain with all the cops around here. I started driving without sport button and just doing the speed limit and it's torture. I realized there's no point in having this car to daily drive when it gets 19mpg and I just sit in bumper to bumper traffic every day barely getting out of 3rd gear.

I did the same thing after trading up for the M.

Say what you will about those who don't DD their M's for whatever reason, but what's the point of driving a fun car in a way that's not fun? The M is not exactly a comfortable car for my commute to work on the pothole-ridden, salt-covered roads around Chicago. The combination of the M and an enjoyable DD is definitely greater than the sum of its parts.

Nikki · 01-28-2011, 05:39 PM

Quote:

Originally Posted by dekaliber

I did the same thing after trading up for the M.

Say what you will about those who don't DD their M's for whatever reason, but what's the point of driving a fun car in a way that's not fun? The M is not exactly a comfortable car for my commute to work on the pothole-ridden, salt-covered roads around Chicago. The combination of the M and an enjoyable DD is definitely greater than the sum of its parts.

Yeah, it's not that it's a terrible DD it's just not practical for my commute. I'm going to move soon though, probably in a few months, and it will be much closer so I can either walk or at least have a really short commute. Now that I'm thinking about it more, a second car doesn't make sense when considering that. Santa Monica is super pricey and I don't really want to move there but if I live close enough to walk to work I will save $190/month in parking (company reimburses me for parking) and $300/month in gas. I already save $80/mth since I carpool and my work reimburses for that (I pick up a coworker that lives only a couple miles from work) so overall I will probably be saving ~$410/month. Now if only I can find a place in Santa Monica that is less than $410 more than where I am now lol.

3002 tii · 01-28-2011, 05:51 PM

Quote:

Originally Posted by Nikki

Yeah, it's not that it's a terrible DD it's just not practical for my commute. I'm going to move soon though, probably in a few months, and it will be much closer so I can either walk or at least have a really short commute. Now that I'm thinking about it more, a second car doesn't make sense when considering that. Santa Monica is super pricey and I don't really want to move there but if I live close enough to walk to work I will save $190/month in parking (company reimburses me for parking) and $300/month in gas. I already save $80/mth since I carpool and my work reimburses for that (I pick up a coworker that lives only a couple miles from work) so overall I will probably be saving ~$410/month. Now if only I can find a place in Santa Monica that is less than $410 more than where I am now lol.

if i lived where you were, i'd get on a motorcycle again and use that as my commuter, ha. not the best daily in terms of groceries but the mileage was great.

Nikki · 01-28-2011, 06:17 PM

Quote:

Originally Posted by Dubbedown

Quote:

Originally Posted by Nikki

Yeah, it's not that it's a terrible DD it's just not practical for my commute. I'm going to move soon though, probably in a few months, and it will be much closer so I can either walk or at least have a really short commute. Now that I'm thinking about it more, a second car doesn't make sense when considering that. Santa Monica is super pricey and I don't really want to move there but if I live close enough to walk to work I will save $190/month in parking (company reimburses me for parking) and $300/month in gas. I already save $80/mth since I carpool and my work reimburses for that (I pick up a coworker that lives only a couple miles from work) so overall I will probably be saving ~$410/month. Now if only I can find a place in Santa Monica that is less than $410 more than where I am now lol.

if i lived where you were, i'd get on a motorcycle again and use that as my commuter, ha. not the best daily in terms of groceries but the mileage was great.

Yeah...I said it best about six months ago. "I considered getting a motorcycle for all of about 4 seconds...which is coincidentally the same amount of time I determined it would take for me to kill myself on one."

z4mcoupe · 01-28-2011, 06:21 PM

Quote:

Originally Posted by bdejong11129

Better yet, "Own or Loan"....That will give you a better measuring stick. I mean, any joker can go out and overextend themselves on a car loan. Not everyone can just plunk down the cash and truely own it...

Salary ranges asides, I think most Z4 owners on this board are rather smart with their financials. Someone mentioned it's better to take out a loan at times and I agree. So it's more of a personal preference.

Mom taught me if I have to borrow money to buy something for personal use, I can't afford it... always have, always will.

Caddyshk · 01-28-2011, 06:34 PM

Quote:

Originally Posted by ongnoi

Mom taught me if I have to borrow money to buy something for personal use, I can't afford it... always have, always will.

People like you are bad for the economy

3002 tii · 01-28-2011, 07:13 PM

Quote:

Originally Posted by ongnoi

Mom taught me if I have to borrow money to buy something for personal use, I can't afford it... always have, always will.

Then nobody besides rapper n ball players would be homeowners

txz4 · 01-28-2011, 07:14 PM

Quote:

Originally Posted by Nikki

Yeah I actually started surfing CL for a beater to use as a daily. As much as I love the M it really just is starting to kill me as far as gas and it's such a pain with all the cops around here. I started driving without sport button and just doing the speed limit and it's torture. I realized there's no point in having this car to daily drive when it gets 19mpg and I just sit in bumper to bumper traffic every day barely getting out of 3rd gear.

lol i used to get 15mpg in my evo on a good day. my SI actually only gets about 20 but then again i drive it like i stole it

RBull · 01-28-2011, 07:50 PM

Sure we don't have the same mom.

Actually I taught myself that.

Quote:

Originally Posted by ongnoi

Mom taught me if I have to borrow money to buy something for personal use, I can't afford it... always have, always will.

Vertigo//SD · 01-28-2011, 08:01 PM

I was one of the winners of the 2006 BMW CCA car raffle. The prize was a new car or cash equivalent ($44K). I took the the cash $31K (after taxes) and traded in my '03 E46M3 to get the Z4MC.

BTM · 01-28-2011, 08:03 PM

Quote:

Originally Posted by Vertigo//SD

I was one of the winners of the 2006 BMW CCA car raffle. The prize was a new car or cash equivalent ($44K). I took the the cash $31K (after taxes) and traded in my '03 E46M3 to get the Z4MC.

-c- · 01-28-2011, 08:06 PM

I love deal hunting its kind of like a sport.

The cars I own have no relation to my income as I have

2008 Audi A6 new price $62000 fully loaded bought used 2 years old for $16500 dealers booboo guy was fired apparently it was still worth $36000. Still feel bad about this one.

2006 BMW z4 3.0i loaded new was $54000 bought cpo 34000 miles for $19999

2009 smart car. Bought new, paid sticker as it was what I wanted and smaller cars depreciate slower. Paid $16500.

2002 mini cooper S bought new again really wanted it paid $26000

So we are driving over $150,000 in cars and have only spent about 75k for all pretty good decent fun cars. I own a few classics but those don't fit the equation.

My wife drives the audi and bimmer I drive the smart and mini...I love the small cars. Though my friends tease me in the smart.

View Poll Results: What is your total yearly income (E85/86 Z4 owner)?
Less than $34,999	22	10.19%
$35,000 to $49,999	14	6.48%
$50,000 to $64,999	22	10.19%
$65,000 to $79,999	27	12.50%
$80,000 to $94,999	25	11.57%
$95,000 to $109,999	17	7.87%
$110,000 to $124,999	19	8.80%
$125,000 and up	70	32.41%
Voters: 216. You may not vote on this poll

01-28-2011, 04:55 PM	#23
bdejong11129 Private First Class 7 Rep 114 Posts Drives: 87 E30 Join Date: Aug 2010 Location: Raleigh iTrader: (0)	I have always been interested in the people who buy a car and then dont drive it that much or buy a second one to drive. Kind of like buying a nice house then living in a motel. But then again I like cars and I rotate through them about every 2-3 years. But while I do have them I drive them everyday. Gas prices, meh... I cannot see gas prices being the governing rule for me driving or not driving my car. Like they say, if you have to ask you cant afford it and if the cost of gas makes you park it then you shouldn't own it.. I would never buy a new BMW, the depreciation just does not make any sense. I like them about 4-5 years old. By that time the value has settled, I can buy them outright which saves me money and then I can just enjoy them and drive them like they are made to be driven. They are the "ultimate driving machine" not the ultimate garage queen.
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01-28-2011, 05:19 PM	#27
Swashplate Major 111 Rep 1,351 Posts Drives: in Anger. Join Date: Sep 2010 Location: Newcastle, WA iTrader: (2) Garage List 2009 Mercedes ML320 ... [0.00] 2013 BMW M5 [0.00] 2007 BMW M Coupe' [0.00]	Also don't forget some of us may have this as a company car or even have a car allowance... __________________ Gone (2006 STI, 2008 EVO MR, 1968 Mustang) AFE Intake/Euro Cats/CSL Headers/Sportline CSL/H&R Springs 1217/1815 !!! BOILER UP !!!
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01-28-2011, 05:30 PM	#30
BlackMoupe Mouper 114 Rep 1,064 Posts Drives: _____ Join Date: Apr 2010 Location: _____ iTrader: (1)	I'm a student... had money saved up to buy the coupe, but financed to build credit.
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01-28-2011, 05:30 PM	#31
Pheonix Major 381 Rep 1,002 Posts Drives: 2007 Z4 M Coupe 2012 e93 M3 Join Date: Sep 2008 Location: Bay Area, CA iTrader: (8) Garage List 2007 BMW/Z4MC [0.00]	Wow, there are lot of high-income earners here! No wonder people look at me funny when i drive my Z4MC to the welfare office. Thank You Big O.
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01-28-2011, 05:30 PM	#32
fighting_fish Private First Class 6 Rep 167 Posts Drives: 2.5i Z4 2004 Join Date: Jan 2011 Location: CA iTrader: (0)	I got my 2.5i with 45k miles on it because it was in my price range. I was actually looking to buy a used corolla (don't judge! I just wanted a reliable car that I could afford outright without loans). It just so happened that in my searches, a Z4 came up. I never thought that I could even begin to afford a car like the Z4, so it took a while. I then looked hard into reliability and found that the Z4 is actually a pretty reliable beast. I think at this point the Z4 had won, I tried to find a car, ANY car, that looked that good. The more cars I looked at, the more they all looked boring and the same. I can really only name a handful of cars that look as amazing, and they're all really expensive. The kicker was I found one that was super clean, and the owner had been selling it for 2+ years, so I was able to talk him down a ton (especially since he wanted to get into a 80k+ car). And now i'm obsessed... and when I find it, I'll have an M
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01-28-2011, 08:01 PM	#42
Vertigo//SD First Lieutenant 39 Rep 362 Posts Drives: X1 xDrive28i (temporarily) Join Date: Aug 2007 Location: San Diego, CA iTrader: (1)	I was one of the winners of the 2006 BMW CCA car raffle. The prize was a new car or cash equivalent ($44K). I took the the cash $31K (after taxes) and traded in my '03 E46M3 to get the Z4MC.
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01-28-2011, 08:06 PM	#44
-c- Colonel 891 Rep 2,737 Posts Drives: bmw Join Date: May 2010 Location: Chicago iTrader: (5)	I love deal hunting its kind of like a sport. The cars I own have no relation to my income as I have 2008 Audi A6 new price $62000 fully loaded bought used 2 years old for $16500 dealers booboo guy was fired apparently it was still worth $36000. Still feel bad about this one. 2006 BMW z4 3.0i loaded new was $54000 bought cpo 34000 miles for $19999 2009 smart car. Bought new, paid sticker as it was what I wanted and smaller cars depreciate slower. Paid $16500. 2002 mini cooper S bought new again really wanted it paid $26000 So we are driving over $150,000 in cars and have only spent about 75k for all pretty good decent fun cars. I own a few classics but those don't fit the equation. My wife drives the audi and bimmer I drive the smart and mini...I love the small cars. Though my friends tease me in the smart.
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