WATCH THIS IF YOU WANT AN M340 | payments, tips, insurance & advice
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- čas přidán 6. 09. 2024
- In today's video, I get into detail on how I can afford an M340i at 21. This includes REAL tips, advice, insurance costs, and payments.
Thank you so much for watching the video, if you want me to continue making videos smash the like button for the CZcams algorithm and I’ll be back in a few days!
S O C I A L M E D I A
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Parts are expensive if you go to the dealer. If you source out your parts on FCP Euro and learn how to work on your own car, maintenance isn't bad. BMW are not that difficult to repair and they've gotten very reliable after 2015.
@@yg78t76t7 thank you! yeah i’m considering doing oil changes on my own, and maybe learning how to change brake pads. Thank you for the suggestion
@@saysayaajust bought the same car. 2020. I gotta learn the maintence too but we gotta do it ourselves for the most part. Or all our money is gone haha.
Hey man, we work the same job and i’m 20 years old also in college. i’m turning 21 this year and im thinking about getting a m340i as well and im glad I came across this video. God bless you and keep grinding my brother 🔥
This is motivating me to work two jobs at 18 and I’m soon to college and been looking at bmw m340i
Jesus is the only way to heaven
JESUS CHRIST is the only way to heaven
I'm in college too, just a year older than you have DD a 350Z for my last 4 years.. Been eyeing something more practical for the past year. While I also love the M340i there's def other options like a first gen M4, EVOX, maybe a Lexus ISF, that will be about half the price 20-35k. Great car either way and I wish you luck enjoy it!
all great options, if i didn’t get the m340 i would have 100% gotten a lexus for way cheaper. They’re reliable, and beautiful cars
bro
Hey man good for you keep grinding I’m 42 I just got my 21 m340 and don’t regret it at all I paid the same price as you with a little less miles 13kmi
@@Drainclinic thank you! congratulations on the new car as well. Been loving the experience of how these cars drive
Hey man congrats on the car it looks great. I am in a similar position to you, I’m 23 and just graduated college and got my 2021 M340i like a month or 2 ago. I literally got it for the same reasons and around the 48k price that you got yours at. Shit is crazy man, sick ride though!
@@donut6939 congrats to you too bro 🙌🏾 been loving this car so far
M340 is epic, dont regret it at all bro!
@@vince2433 facts i’m loving this car so far
Nice, I’m in the same boat. 21 year old senior in college but thinking about going into nursing (16 month absn) dope seeing another black man in nursing. Super into personal finance and I work part time in car sales. Awesome video. I got a 07 lexus is 250. But looking at Acura Integra, lexus is 300 ‘21.
@@bluethunder9102 good for you bro, keep grinding!! love to see black men win. Both great cars. 💯
Don’t know if you’re aware but one thing I didn’t hear you mention is pre payment penalty. Some dealerships charge a penalty for paying the car off early. Other than that great video! 🔥
@@jones9309 whattt that’s crazy dealerships do that. My dealership said i could pay it off early so im good! thank you tho ‼️
Whatttt really never heard that b4 is that if you’re financed thru them bc if you’re not it shouldn’t affect you if you paid it off I paid off mine early but they weren’t my lender
im a cna as well and you’re younger than me this is motivational for to get the q50 i always wanted
keep working hard!! q’s last pretty long as long as you take care of them. I would highly suggest looking at 3.7’s only the 3.0t’s always end up having problems
Hey man awesome video! That’s crazy you’re able to work 2 jobs AND go to school AND manage to save $10K as a down payment AND you’re barely legal drinking age! 👍 Very impressive indeed!
Totally agree with pretty much everything you said in the video. People who aren’t into cars will criticize you for buying an expensive luxury car but life is full of contradictions and spending this much on this kind of car will open doors for you in unexpected ways that driving even a new fully loaded Honda Accord never will. Or even with your previous Q50. You’re going to be able to go to car meets and network with and become friends with people who have money and that will expose you to new opportunities that you wouldn’t have had otherwise.
Get your car professionally detailed if you can and since you’re on CZcams you can write that off. Trust me, unless you plan on opening up your own detail shop - as fun as it is - you can easily ruin your paint by using the wrong buffer or letting the orbital head jerk out of your hands and hit your mirror caps because the speed was too high. Too many nuances and things to know about. Spend several hundred dollars twice a year to maintain your car.
Ditto with the maintenance. Don’t waste your time on doing your own oil changes and especially brakes. I mean if your 3rd job is as a mechanic and you already have all the skills and tools then maybe? But if you work these 2 jobs and run these side hustles as you said, you obviously have the income already and your time is much too valuable to do it yourself.
I WOULD however spend time on the Bimmer forums to research the most common problems and issues with the G20 and B58 motors. You’d be surprised how little your service advisor may know about a problem you encounter with your car. If you want to save money go to an independent shop that preferably specializes in BMW service, or a good competent shop that services all makes. The BMW dealer should only be for warranty work or for prepaid maintenance. And ignore the recommendations for 10K mile oil changes. Do it every 5K. Oh and be sure to use OEM wipers. Trust me, you’ll notice the difference immediately if you use something cheap.
Don’t limit your mileage on this car. Hope you don’t have a beater that you use as your daily; pretty much defeats the purpose of getting this car. Enjoy this car as you would without worrying about the mileage. If this car is well cared for with service records, you’ll be fine when it comes time to sell. Just be glad you didn’t get anything 5-series because then you’d pay hell for depreciation no matter how few miles you put on.
I’m assuming you went with BMW FS. If you can, I would make $1500 monthly payments. You’ll pay your car off way quicker and, when it comes time to trade in, at the BMW dealer, as long as your DTI is ok, you’ll qualify for a G80/G82 financing thru BMW FS - No questions asked.
Lastly, go to an expensive, high end restaurant maybe a few times a month during lunch. Just get something cheap but that’s not too crowded where you can hang out for an hour. Dress nice and bring your laptop and do schoolwork. Tip the valet a few bucks to park your car. You’ll eventually get noticed and exposed to high net worth professionals and business owners. Even better if you can workout at an expensive gym/club.
an m340I isn't a luxury car at all.
Hey dawg, congratz on the car. Keep grinding
@@sh0tzshubladze232 always 🐐
Just sounds like bad advice. Working 2 jobs and trying to go to school just so you can show off on IG is crazy. The whole passive income thing get throw around too much. I hope you didn't cash out some stock or crypto to get the 10k.
@@pmarcusb💀💀💀
Keep your mileage under control to delay pricey maintenance. After the car is paid off, you will have max equity to sell. B58 is a very reliable engine and will serve you well.
Enjoy the car man, keep grinding 👊🏿
A dude can live with their mom and work mcdonalds and spend their check on a nice car via payments. The real standard of doing well is owning a home... better if home is paid off
don't modify the banks car till YOU own it. your payment is roughly 800$ a month and probably 2-300$ in insurance as your 21 and male.
@@ShiroUwUs way less than $800 but i agree, i don’t wanna modify the engine or do anything crazy to it until i actually
own it. Shooting to pay this car off in 3-4 years
I sell cars so iknow ya rate… 650+ a month is alright bro you got it stay motivated 🤝🏽
@@JoseJimenez-dd3dy Bingo 🤣
@@JoseJimenez-dd3dy thank you, gonna make sure I don’t become the average American with serious car debt 😔
@@saysayaayou just became average going into debt, on top of student loans!
Keep up the good work
@@Anthony.HimSelf thank you 🙌🏾
i make 200-300k a year and i got cpo used 21 at 45k, put 8k on mods on it.
will be my daily until i transition to m3 or porsche
@@juliusoh i’m trying to be like you damnn 🔥
@@saysayaa we will be driving our dream cars soon broo 🔥🔥🔥
Damn wyd for work bro?
your video just showed up to me as recommended, rn I'm located in Greece.
@@martinsuperfind7779 that’s awesome, greece is such a beautiful country
Nice bro im in the market too for a m340i or a f82 im 21 as well making over alittle 60k so around the same as u not alot but i get by alright
hey bro what do you work as if u dont mind me asking?
@@Xccord good shit bro, just stay patient. Me personally owning a car like this has already pushed me into making more money and working hard fr
@@saysayaa that's what i was thinking as well
@@user-wy9ew9re6k work at a bar nothing crazy just work full time 40-50 hr weeks tryna start up my own thing tho
Might g O G80
this change me perspective on buying the m340. I’m an Amazon delivery driver 55k is my yearly income. I really want this car but can I afford it? Probably if I work harder but 10k down making me rethink about my 6k down payment that I was planning to put with my 755 credit ain’t it huh. I’m a first time buyer btw so definitely will have high interest rates. Maybe I should try to save up 15k for an m340 or just start looking at 25k - 35k cars then trade it in for something for some type of M car in the 75k-90k range. I also really want this m340 to make content for social media platforms ngl.
@@scxrpiooo yeah if you put only 6k down your payments would be like $1000. So the best bet would be 10-15k. This car is great and i’m loving it so far but if the end goal is an M car i say save up for that instead of buying an M340 and then having to pay it off. The social media aspect on m340’s is a good investment but tbh like these cars are oversatured so like if you wanna start making money off social media, you would have to make your car stand out. (which basically means spending a lot of money to make it look different from the rest)
$10k down, $700/m payment, $200/m insurance, maintenance, etc. Sir with all due respect while you can make the payments you cannot “afford” the car. This was not a good financial decision but I hope it motivates you to keep working hard and keeping making more money, good luck!
@@austin7331 the video isn’t meant for financial advice lmao, just what i did. Before purchasing the car i made sure i actually had over 50k saved up, so at any time i can pay off the car.
this car just helps build my credit and ofc it’s a way i make content!!
@@saysayaagenius that’s what I’m trying to do, thanks for the video I want a m340i badly
@@MickWiddd the most important part is the down payment!! I feel like 15-20k is down is the best range
@@saysayaa good to note
what's wrong with the car after 80k kms?
@@Swump87 nothing, it’s just most people would prefer getting a bmw with really low mileage
nice video G
@@mrgasbaby appreciate it bro
That’s a fire car bro but ngl you should’ve got a f80 or f82. Those cars are fun to drive
buying a used f80 or f82 is just risky, especially if it’s already tuned or has multiple owners. Realistically yeah it would be cool to own one but i don’t really need a sports car rn. I’m happy with my m340 and the 27 mpg that i’m getting 🙌🏾
How much you pay a month for the car?
@@Letsgetmad36 over $650 a month 😔
@@saysayaa i mean that’s still less than 1k a month wit insurance so isn’t bad
@@saysayaawhattt that's not bad
@@saysayaahow much is your insurance?
@@DontMissThat yeah like the average American car payment 😭
i like the car man but just did a big lay off in the healthcare sector. Its looking like 2008.
What would you say is a good alternative to M340i?
if i didn’t get an m340 i would have looked at lexus is350, acura tlx, 2018+ honda accord, etc. There’s a lot of cheaper cars that are just as good as an m340 but might lack speed or interior design
540 M sport
lexus is500, audi s4, merc amg 43
If you dont mind me asking, which institution do you have your High yield Account with?
@@MRwilsondraws Marcus by Goldman Sachs, i get 4.40% of interest a month, but there’s other banks that possibly are higher
i found a car near me with the same price you bought it for, thinking of putting 15k down, how much you think i’ll pay a month? pls i need help 😭😭 idc how much i pay a month
i make 120k a year btw
@@lbjb2422 depends on your credit, but with 15k down maybe like $500-600 a month
@@lbjb2422 once you go to the dealership, they can put all the numbers in the system so you know exactly how much you would be paying monthly
@@lbjb2422 i just put 14k down with 7% interest today. payments are around 560 for a 5 year loan. Make around the same as you so the plan is to pay it off within 2 years
guys does the interest rate really matter if i plan to pay it off within a year or two on a 60 month term, first time car buyer so it will obviously be a little high. but im going for a 330 not the m340
Yeah bro the interest matters because realistically you can say you’re going to pay it off within two years but things happen bro. So yes it matters
@@axl6670 yeah you’ll still get hit with interest. When purchasing the car the dealership will tell you the amount interest that will accumulate after 60 months. However, yes your interest will be significantly reduced if you pay it off faster
@@LucasS-wt3rt that’s true, that’s why I’m saving as much as I can to have money for payments in case something happens
@@saysayaa appreciate it, yh that’s the plan!
It will still cost you a few thousand. Search ‘auto loan calculator’ in Google and play around with the numbers. Even just first first few months will cost over a thousand in interest. They gon getcha lol
bruh im 22 7%apr u crazy and they are making a lot on ur head because rn the fed etc are dropping the interest rate
imma give u an exemple im living in canada montreal im looking for a m340i i cost 50 to 56k depend at 7.99 8.99 9.99 u pay alot now the canadian central bank drop the interest rate we are at 4.75 guess what im waiting til mid 2025 to buy a car because im gonna get 4% apr in mid 2025
@@liberte1700 nah yeah 100% but the apr rates in america are just bad rn. Even with excellent credit the lowest i’ve seen is 5-6%. For us interest rates will either go down or go up after the election lmao. But that’s a good idea, waiting… i just didn’t really have that option because i needed a car
Epic car cuh
@@adamyoonie wait until i modify it 👨🏾🍳
Nice car
@@Comiqehthank you!
I got a tip on how to afford expensive cars get two jobs and have good credit
@@danniecurlett8702 or sell drugs and scam 😌
@@saysayaa no need to throw bricks at a jail house do it the right way or buy used these things are cheaper three years later
The economy is crashing my g. i wouldnt be buying anything right now..