How to afford a BMW G80 M3
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- čas přidán 31. 08. 2023
- This is how much you need to make to afford a BMW G80 M3. The car is not cheap and if you want to max out your 401k, that means you’ll likely need to make $250k+ before tax to afford the car comfortably.
In my other videos, you’ll see that I put down much more and so may payment is much lower. I also did not follow this guidance and used a 5 year loan instead. - Auta a dopravní prostředky
This guy has clearly never worked at a dealership or even knows anything about this topic…. 🤦🏻
You’re right, I haven’t! I’ll pin your comment so you can let us know a better way to do it. Thanks!
go ahead we’re waiting 😊
Lol what? This is standard finance advice. Just because you’re poor and buy too much car doesn’t prove anything
This guy clearly has financial literacy, unlike most of us 😂
@alexphillips1885 depends on what you find valuable in life! I tend to run a little conservative with money.
Put 20k on a parlay n pray
Down for that
Just do a $20k +100 parlay every day for a week and you’ll have the car paid off
@ediswiththememes7988 great strat 😅
@@ediswiththememes7988what the hell are you saying? I'm too poor and unknowing.
@exoticbeast25 that makes both ofnus
Yea I need to put more then 20%, $1400 is like a mortgage for me
Yah I’m not ready to pay a $1.1+ car payment.
Than* lol and yea these people crazy for paying over 1k a month
@preoksaha4504 I’m a crazy man
My mortgage is 1200, that is crazy, you just have to wait a few years and get the car for half or less
@brianmiller915 paid for the convenience of having it now
This is the same math I used... I did not end up buying an M3.
It’s for the better. At the end of the day, I’m really to sell this car if a better investment shows up. I’m glad to hear that you have some strong personal finance fundamental!
Someone who finally puts tax as a variable!!!! Makes a big difference!
I hate with a passion when general metrics are reported as pre tax. Like what does that actually get you when you use pretax?!
I make $50k a year…. But my dad makes $300k a year. Let’s just say it all gets worked out on paper 😂
And that paper is truth
🤣 gotta get yo bread up
@@G20T I mean I could… but why work harder when I already enjoy the lifestyle I want, zero financial stress, and have a trust fund
@jaydubs6354 hope you enjoy it
@@jaydubs6354yeah pick a hard life right 😂 Many people would pick that too
I know a lot of people who don’t make that much driving around in G80s 😂😂😂
It’s an ideal budget to hit! At the same time, people have lives to live, so I get it
Just wait two years for it to depreciate a significant amount lmao. Last gen m2s and such are already down to the mid 30-40 range
I’m ok with depreciation. I want to keep the car lol
And you are basically tossing a coin whether previous owner/owners took care of the car. Some of these M2 were absolutely slaughtered on tracks etc
@TheShattan all used cars and houses are like this. Absolutely can’t tell.
@@izzyr__ I think I’d still rather deal with the possible damages than pay the premium + markups of buying these things new lmao
@endmymisery217 oh yah I definitely prefer used. At the time that I bought this, used prices were very comparable to new, so went new. My next car will likely be used for sure.
Buying new, using the 10 percent rule instead of 20 . Buy a m3 for 40 k and you can buy it at 60k a year salary
20/4/10 rule is great to gauge affordability assuming take home pay. I wouldn’t recommend getting this car with a 60k sal tho
No I wouldn’t recommend either. I would recommend a 3-4 year old pre owned m3 costing 35-40k however on a 60k salary. That’s what I meant . Sorry
Yeah I think that’s ideally if you wanted best value. I just wanted a new car so I went with it.
@@izzyr__ I like new cars with new car smell and latest tech. It’s just the depreciation on high end cars is crazy. If you’re rich btw it’s good, doesn’t matter
@vedanttaneja4428 definitely not rich after this car purchase 😅
With a car like that, if you can’t buy it cash then you probably shouldn’t buy it at all. That’s a car for someone who is enjoying their wealth, not someone who is still building it.
Yah I agree with you. You’ve got good fundamentals
*cries is broke
@RecklessDriver818 cries whether I have or don’t have this guy 🙂↕️
So don’t enjoy life basically is how you view life 😂
finally someone responsible
I try my best man
Just got a full spec 2021 g80 w carbon buckets at 20 years old. Put 20k down! I love it!
Congrats bro! Hope you make good memories with it 😄
…. My G80 was $101k after tax & title. I wasn’t messing with the interest rate. Straight cash homie. 🙌🏻
You’re a smart person! And jeez! You build sounds great already.
101k cash holy fuck what do you do??
@philvillafana2584 also patiently waiting for the answer
@@philvillafana2584drug dealer
idk if your credit score is like 2 or 800. either way cash/outside loan is probably the way to go fs
Congrats man! I could pull this off financially but can’t get myself to do it yet 😂 it’s a daily fight, because I love cars lol. Decided to compromise and get an M240i
Bought a 2022 w/ 13,000 miles on it for around $50k all in
Appreciate you bro! M240i also is a great pick. I wanted one as well
Should’ve gotta a m3 bub
@@Toosmoothtolose I might get one in a couple years but didn’t want to spend the extra money right now. Another issue, they are so common now.
If I really want to upgrade, might trade in for an M2.
@Toosmoothtolose she’s fun for sure
@jdbsoccer100 I don’t see that many near here
Guy at work has one and he definitely doesn’t make that much 😭
Probably balancing out by giving up something else in his budget!
Oh trust me! There’s a lot of people who have nice cars and not making what (we) should be making in general 😂.
@Avery_308 yah! At the end of the day, we all have different life goals. Whatever helps you feel more fulfilled.
Or like most BMW drivers, make $1,500 a month and live in mom's basemnt.
The basement is where we belong
Why are the comments like this?? If you can’t afford it or just don’t wanna spend the money every month then don’t. On the other hand bashing someone for having a newer car they pay for every month is a lame trend. Most of these comments are guys trying to justify their shitty vehicle situation, but it’s not fair. Say what you want but as long as the note gets paid every month there is nothing wrong with paying for what YOU wanna drive. Most of us wanna build credit and drive what we want while doing so. Not that big of a deal.
Appreciate you bro. This comment makes it all worth it for me. Hope life treats you well my friend.
I’m
Poor I can’t afford that $1440 😭😭😔😔😂😂. I had my evo x fun, now a Msport 335i 2015. Next car is gonna be a F87 m2 comp.
I’ve always wanted an evo!
81k? In USA you can find one below $65,000, with buckets seats, cf trim package, cf roof, comp package, clean title. One in NM for 62k rn at a dealership. Unless that’s an x drive or a 2024 I wouldn’t pay $81
It was new at the time that I got it and used ones were none at a good price. If I were to buy one today, I’d definitely try to find a more used one.
If you buy it used & get a longer term on it say 60 or 72 mos you can get it to $1k per month or $100k per year
Always a way
what happens to the other like 140k that doesnt go to the car, is life expenses in NA that high (im from europe) and i can say that it would be enough to make around 60k a year to afford it
My standard is that you have enough to live and invest and save. So that’s where the other bits go!
Y'all can keep dat!!
Hah right? It does run a bit expensive
I gotta make more money. I’m dying to own a 6 speed g80.
You’ll get it one day bro
I’m a nobody a drive a bmw. I love them. I can’t wait to one day get an m car
You’re a somebody for sure! Hope you can get in an M of your own when it makes sense to you.
You're forgetting servicing, insurance and maintenance. The majority of people who buy these cannot afford to run them.
I’ll make a follow up vid talking about maintenance. Don’t remember if it was this vid, but insurance is mentioned somewhere
1492 is how much I pay for 2 vehicles,my 2020 x4m and 2020 scatpak,that’s a high ass car payment man,Jesus…… don’t do it folks
Congrats on your two dream cars homie. I’m sure you could teach others how to be successful like you.
This is exactly why a recession is coming. 😅 can’t wait to get a discount on the repos for these next year or so.
Best of luck during open season bro
@@izzyr__he broke thats why he worried about repos, just to buy a used car thats been fucked in
@TehNiCoLaS 🙃🙃🙃
Bro they make 180k a year 😂 not including his wife. I think he’ll be ok
@reformedartist8528 and worst case I’ll just sell the car to genji like he wanted. Then when things are good I’ll get another one lol
I pay 1200 a month, make 165k a year. No down payment because I didn’t want to take from my investments.
What do you invest in?
You should never pay 20% down on a car. That’s what you do in a house because a house appreciates. Buy the same car in 3 years for 70% of the original price
Also a good strat
That can get me a Toyota Highlander.
Fun car
That’s the one I bought.
@MaSa-bp5qe nice!
Do a 60 month balloon/select from BMW financial. $80K MSRP with minimal down got me $1200 per month👌
Great strategy bro!
81k in 2024 wait 3 years it will be worth 39k 😂🎉
Also could u do cost of ownership of SUVs like the range rover sport, toyota land cruiser, amg G ...
Absolutely!
Might as well order it from over seas USA only taxes like that
Ah you mean import it? Haven’t considered that path.
I make 95k a year
Im23
My 2014 335i at 23k
Insurance $218
Car monthly $75 but I pay $500 weekly instead of paying monthly. 2% interest, quick paid off!
Way to be a go getter. Awesome car bro.
180k doesnt seem to be enough? How much do you save every month like for retirement and stuff? I save like 5k a month and I don’t touch my RSU at all. I’m still on the fence about buying a x5 40i since I don’t want to take out a loan and get hit with the interest.
Yo! I’m happy that you’re asking such an informed question. This calculation should be for take home pay, meaning gross would be about $272K.
On other vids on I channel, I have 401K contributions baked in, but it’s so hard to make the formula work for everyone in such a short video.
I guess I'm am outlier. My G87 cost 81K (85K with tax) 6.25% rate In 4 months I saved 30K cash down payment for an 1104$ payment. And i make at least double payment a month. I only make around 150K
These are my general guidelines anyways. As long as other things are taken care of, you should live and spend how you want!
@izzyr__ bet, I understand. I'm single, no debt other than the car, so I can do more with less
@BMR_WRLD happy to hear you’re living it up tho!
i think the sound effects need to be louder
Just wanted to make sure we both lost our hearing
Inexpensive car but no in Singapore. This car is cost of SGD600K. Equivalent to USD415K
Yikes. So much.
Hi izzyr
Inspired by your videos.
Just wonderjng if you invest or do business at all like real estate, stocks ??
Stocks and real estate, but I don’t make much through those streams.
Double check your number, this sounds like a finance deal
Thanks bruv
I drive an M550i for $280 a month lol
You’re doing it right bro
id get one put i cant justify that front end
It grew on me!
who puts down 20% for a car. you don't even do that for a house
Lmao
Wait 3 years when it’ll be half of that price.
Also a good strat.
I’ve never seen a non basemodel non completion m3 like that 😷. Why bro. Should have just saved ur money and gotten a comp
I wanted a manual
Yeah like 90 percent of the owners even 100k salary is really good unless you want extravagant
Probably had a much higher down payment
How tf you get 5% rate in this market 😂
The current market may not yield this same result 🥲
Nice car
Appreciate you bro
Hear me out. Life savings on red
Many roads to the same goal!
You should also add on the gas mileage cost.
Like depreciation based on mileage? Otherwise, gas is included!
@@izzyr__ Nope I mean How much you will need to pay in gas while during the (Assumed) 48 month loan with 5% interest like you said. I mean how much you paid on gas for 2 years.
More rules & bs. I just bought a 22 m4 g82 with 16k down + 10k trade in. Car was 67k ish with tax.. & I pay $1k a month for 60 months. I make between 75-85k a year.
Good work bro. Your life is blessed
The reason they follow these rules is because they are factoring in other costs such as mortgage or living expenses. Hence why he is saying to use 10% only. However if you live at parents home then you wouldn’t have to pay for anything so paying off the car with a much lower income is possible.
That’s why live at parents home as long as possible 😂it’ll save a lot of money
You’re also broke, have nothing in retirement, and guarantee you don’t own a home.
@dingleberry4896 yes exactly. These rules don’t exist in a vacuum.
This is none sense. Most people finance their cars at 72 months or even 84 months option. With approximately 5% APR on average. That would bring down the payment to a realistic doable monthly payment.
1.500 a month what are you buying ? A Urus?
I can’t get myself to extend the loan beyond 5 years.
Lmao, I make $150,000 definitely not putting money down, and I will push the payments as far as they will go, or just keep my M2 comp.
Also a fine strat. I just get insecure with high payments
@@izzyr__ Yeah but you only live once
@gtr485 that’s the mindset I’ll adopt when I get the huracan. Thanks bro!
They could keep it that’s buying a house territory
Yah that’s an option too!
Take that plate off bro
My hearts wants to, but my mind cannot bro.
What happened to paying $500 with insurance for a nice car? Wtf.. i earn $140k a year and still drive my 2010 acura TL
I pay about $100 a month for insurance, but am older than whatever age companies deem as less risky. Good on you for driving the TL. Cars are definitely a money sink and staying away while investing that money alternatively will set you up.
I make this daily
I’m proud of you chief
Am I the only one who would never
There are many of you
What you need to know for the bank to own a car that you drive.
Just need to know your incomes vs expenses
@@izzyr__ You do not own it.
You know what, I don’t think I understood your original comment.
Same idea as a house right. The loan company holds you home as collateral. They’re both just vehicles for making memories anyways. I’m ok to take a hit on that.
@@izzyr__ I just altered your description, a little sarcasm.
@krocketonboost5236 oh lmao. That makes so much more sense. Yah you know that’s exactly what this video is describing.
Forgot about insurance cost and gas so another $300 easy a month.
I think I’m paying $100
@@izzyr__ makes sense.
😅😅 I’ll just get a 330i with all m sport package, can feel somewhat like a M car
Also a good choice
Bro that's basically a 328... That ain't anything NEAR a 440i let alone an M car😂shit has a damn 4 banger in it... My damn Hyundai is nicer than a 330 😂hell no
@philvillafana2584 i have love for all cars 😅
@@philvillafana2584 I ain’t talking about a 440i, just talking about the look only in comparison to an M car, could give a shit about performance atm lil man
@@izzyr__ yea but I'm trynna get him to realize paying all that for a 4 banger bmw is an all time bozo/noob to the car scene move. Better off getting a Kia than paying $700 a month for a bottom entry level bmw 🤦♀️
Hopefully the income you make from this video can help you pay the note
You and me both bruv
he ain't making anything significant off this video short my dude
@m91473 a man can dream
@@izzyr__😂😂😂
i keep my m340i thanks
Yes you should. Thanks!
Hey man love the car, I’m curious of what job you are doing. I am a 16 year old looking for the best future possible.
Hey bro, I made a video about my path. I’m a software engineer. Feel free to join my discord or message me on IG if you wanna talk specifics. Couple of other folks in there that are preparing for college.
@@izzyr__ thx man appreciate it I’m taking IT as one of my subjects so I will keep it in mind
@armaanbadari you’ll go far. You got it dudr
Armaan im 17 I started a software logistics company and am currently launching in january. Planning to buy a xdrive g80 comp.
@@blocksource4192 wow bro amazing work keep it up I’m very inspired
First of all you ain’t getting n 5% in todays time least you’ll get is 7-8 with amazing credit
Yeah that’s right
99% of people that own this car do not make 180k
How much do they make?
WAY less!!!!
@LittyJonez different priorities I guess! I would feel a little insecure.
@@izzyr__ definitely! Your video makes perfect sense and that’s the way people SHOULD budget when purchasing a vehicle, however MOST people do not!!
@LittyJonez I really appreciate that bro! I’m happy to hear that you have great financial health!
lol I know kids with these that barley make 70k
Not often a good decision for those folks, but life’s short 🤷🏻♂️
U don't need to make 180 k to afford this
Yah maybe you don’t, but I do
What do you do for a living ?!
Software engineer
Poverty spec m3
That’s right
i have a friend in college making 70k a year with a 180k bmw m8 💀
It’s not what I’m comfortable with, but I’m happy that your friend is happy!
Why is he in college if he's making that much?
@RealityClubX maybe they want more!
@@RealityClubX residency
@Nerdicle ah your friend is trying to pay the car once they become a physician 😆
U mean you need to make 180k after taxes
Who taught this guy math ?🤣
My mom 🙂
@@izzyr__ 🤣🤣🤣🤣
Bmw m4 and m3 I would rather get the 2021 car price drops about around 61k cheaper
Great strat too
Yeah im sorry I have a business and everyone in our family paid our bmws money down. Aint no way this one will be different. When my mom lost her job 6 months ago we didnt have to make payments on a $100,000 bmw… Its so much more safe
Good work bro. Happy your family is doing well.
@@izzyr__ im planning to get a g80 m3 myself
@blocksource4192 nice!! Hopefully they’re not as hard to get your hands on as they were back in ‘22
@@izzyr__ 22’ was terrible for BMW production as a whole. Our sales rep at BMW tho is struggling to find one to test drive. It seems as their demand is skyrocketing. Im surprised I dont see them on the streets… Ive seen more mclarens than g80s in my neighborhood
@blocksource4192 it’s still a treat if I spot an M of any generation tbh! I bought mine without a test drive.
Lmfaoooo
Exactly
How to stay poor 101
🙂↕️
Yea I’d take the e92 m3 over that car any day gt350 over all of them
Solid choices! Honestly me too.
All that for the most unreliable undurable thing in the world
I’ll report back if I find that it’s unreliable. So far, it’s not bad. Just pricey
@@izzyr__ it'll be good for now, if you end up keeping it for 6 years plus then it'll turn in to a nightmare
@MI-mx3rh I’ll be careful when year 6
Comes around!
cash
Also a good strat
Mine came out to %14.5 interest🙁 $1,798 a month
What the heck! That’s the highest I’ve heard of
Man, why would you finance a depreciating asset on a 14.5% interest rate? Hopefully that decision doesn’t compromise your way of living, if it does then that is not the car for you.
@sergiogarcia9822 what if the car gives him fulfillment
Damn
Exactly 👍🏼
Challenger Hellcat payments entered the chat
Hahaha. Any more money and I might have to get rid of my other things!
That’s it 😳??
It should be $180k take home pay! I misspoke in the video. With a full 401k contribution, you should be at $272k before tax.
Peanuts
Right
Jealous noobs in the comments wish they could get one sniff of this cars interior
Hahaha. I’d let them have a whiff if they’d get off my back!
Low hanging fruit/cope of a reason, many people can afford a car that doesn’t look like it’ll get shot up during Wabbit Season
Cap
You got me
You don't buy a BMW you lease them plus they don't hold value
Good tip
Paying retail isn't very Asian, cuz.
I actually got a discount 😅
@@izzyr__ there it is!
@antster7 never. Pay. Full. Price.
Making payments on a vehicle implies that you cant afford it in the first place though? Financing is literally just the banks way of saying "youre too poor to afford this, so were gonna buy it for you, and then you have to pay us back, but this vehicle will depreciate by $10-20k by the time youve paid us in full, oh and youll end up paying us an extra $5k over the original value of the vehicle." id rather buy a lemon than a beamer anyway regradless of my disposable income
You’re right! Dave Ramsey teaches this way of budgeting and for most people this is the best technique to follow. At the time i think the stock market was outpacing and interest that was growing on the vehicle so I thought this path would be ok. But yah, I’m a big supporter of buying a car in full.
@@izzyr__ the stock market is still outpacing car interest rates but the problem is cars are cheap and loans are under 5 years usually which makes it too risky to assume the market will make you profit. If instead we move to a house loan, then yes, in 30 years you re definitely either making more money or worried for your life because ww4 started 😅
Haha I agree with your take. For this purchase in particular, I’ve decided that I’m ok with not doing the most financially sound thing. I’ve been pretty good up to this point, so I’d like to reap the benefits before I go back to monk mode.
You can say he can’t afford it but if he’s paying the note every month what does that mean? I don’t get why paying a car note is that bad ☠️.
@user-yi6dd1pi8s lots of people follow Dave Ramsey and so do I to an extent. For the average person, having car payments can stunt your financial growth. If you’re responsible with the rest of your income tho, then yah like you said, just live your life.
I did not follow this exact guidance, but everyone’s situation is different. Hope this video was helpful!
discord.gg/suTuxUWPSS
Lol!! Real talk the people that usually get those cars are in lease agreement!! If u lease the car u could claim the depreciation in your taxes!!! Rich people don’t buy cars they lease them! Lol!!! CZcams is full of fake financial guru!!
Yah I think leasing works if you have a business to write it off for. We’re not there boss.
If I make 180k a year I’d have the 100k saved up and cash it out
What are we gonna do with the cash out boss
dam all that to get clapped by 10k shit box thats crazy
Hey man, but at least the AC is workin!
bro i got ac in my 1983 Camry and somthin tells me the mechanic bill is allot cheaper
What’s the mileage you got on it?
110k if you can believe that @@izzyr__
my grandchildren are gonna be able to drive it lol@@izzyr__
All this arbitrary and just boastful. No one said you gotta do 4 year financing. And no one said it has to be 10 percent of your net income. Stay up kings.
That’s right, I just wanted to boast! Just kidding, I didn’t follow this framework either. Everyone’s circumstances are different, but I do think this provides a safe baseline.
Wow did I say before taxes… I meant after taxes! Which means if you are contributing to a 401k, you’d ideally be making $273k / year!
discord.gg/suTuxUWPSS
That makes more sense I guess. But I’d say COL is a big factor. Like 270K is awesome for Pittsburgh, great for maybe Philly but not really that much for Seattle not to mention the bay😢
@normanzeng8539 that’s right! I’m in a B Tier city, so it works well for me. If you were in those HCOL areas tho, then I’d prolly like to see some solid investments before “wasting” money on this car.
Bud if u paying for interest you know damn well u don’t know how to negotiate. But nice car
Wait wait. How can i negotiate to not pay interest 🤔
Buggin
@EndlessCris lol
But why
Gives me enjoyment
You’ll also need an extra $20,000 to replace the engine, $10,000 for a transmission, and $300 for an oil change after a month.
Wait are you sure?
@@izzyr__BMWs are the most unreliable cars ever made.
Shut up 😭you never even touched a BMW door handle before
Or buy a Supra.
@PaulCotton considered it