What should you be earning?

[M4Raaj]

Hello all

OK I got a question for you. What sort of money should you be earning to be able to afford a new M car? The reason I ask is because I recently ordered my M4 and I take delivery of it in a couple of weeks. However I currently drive a 6 month old 335d m sport with pretty much every option ticked cost me almost 50k. The first day I took it to work I found people looked at me funny and made comments and say things like you carnt afford that on your salary. Some think that I'm a drug dealer but don't say it to my face. I've had general people saying that you must be minting it. And that just my 335d. To be honest I don't give a 5H!T what they say but it seems like people are quick to comment. I'm not a rich bloke have a decent enough job and the other half works and studies. So should we be raking it in to have a M car?

[Mark1966]

I reckon the minimum requirement for an M Car is £78,098.17 pa, any less than that and you should be using the bus

[M4Raaj]

Originally Posted by Mark1966

I reckon the minimum requirement for an M Car is £78,098.17 pa, any less than that and you should be using the bus

In that case I'd better take mine back then.

[mofomat]

What a bizarre question.

[M4Raaj]

Originally Posted by mofomat

What a bizarre question.

Its not bizarre just trying to get people's thoughts of general people's perception!

[Who's on first]

Originally Posted by RAAJ

Its not bizarre just trying to get people's thoughts of general people's perception!

The hell with everyone else.

If you can afford it, and you're not mooching off someone's nickel. Get it.

[mofomat]

Originally Posted by RAAJ

Its not bizarre just trying to get people's thoughts of general people's perception!

Well, you have said you don't care what other people think, which is a good attitude to take. It's nobody's business.

As for what you should be earning to be able to afford an M3/M4, it's impossible to answer. With the discounts available, and PCPs, I don't consider the M3/M4 to be a particularly extravagant purchase. And if you don't spend a lot on holidays and you have no children, then it should be in reach of a lot of people. And who's to say someone didn't inherit money?

I think a large number of people won't even know what an "M" is. It's just another BMW to them.

[M4Raaj]

Originally Posted by mofomat

Well, you have said you don't care what other people think, which is a good attitude to take. It's nobody's business.

As for what you should be earning to be able to afford an M3/M4, it's impossible to answer. With the discounts available, and PCPs, I don't consider the M3/M4 to be a particularly extravagant purchase. And if you don't spend a lot on holidays and you have no children, then it should be in reach of a lot of people. And who's to say someone didn't inherit money?

I think a large number of people won't even know what an "M" is. It's just another BMW to them.

Yes I agree.

I think my wording could have been a bit more clear , as I wasn't asking people what they earned but what other peoples perceptions of flashy BMWs are like for example people who work with me always make comments about my car even senior management and it always has the financial vibe to it.

[gtsussex]

Makes me laugh.

Why should you be worried? If you can afford the car, do the deal and try the car.

The days of looking at shoes and watches (which used to be the gauge) are long gone. Dealers just want genuine enquiries.

Think the reticence by some to go and see high end marques actually costs them dear as there are plenty of people daft enough to do a PCP on them (and with some of the GFV they aren't as horrendous as you'd imagine).

[dopper99]

Just tell people you "got it cheap" to detract them away from thinking you've spent a lot of cash on it.

They will think you are smart for getting a great deal and will be none the wiser what you actually paid for it.

[FLGator15]

Enough to fill it with gas

[sashaa]

It can be reasonable it can be very expensive, depends how much money you will put in accessories, and how gentle you will be on tires. Same like any other performance car.

I would say if lease, insurance & running cost doesn't take more than 25-30% of your earnings, you earn enough to live with the car.

[dunny247]

Originally Posted by sashaa

It can be reasonable it can be very expensive, depends how much money you will put in accessories, and how gentle you will be on tires. Same like any other performance car.

I would say if lease, insurance & running cost doesn't take more than 25-30% of your earnings, you earn enough to live with the car.

I always worked on 25% too. Must mean I can afford mine. Thank @#$/.

[DazC]

If you can buy and run the car without having to sacrifice on other basic living costs, including still being able to treat the ones you love and cover unexpected costs - then you can afford it IMO.

[Chompers]

Originally Posted by gtsussex

Makes me laugh.

Why should you be worried? If you can afford the car, do the deal and try the car.

The days of looking at shoes and watches (which used to be the gauge) are long gone. Dealers just want genuine enquiries.

Think the reticence by some to go and see high end marques actually costs them dear as there are plenty of people daft enough to do a PCP on them (and with some of the GFV they aren't as horrendous as you'd imagine).

Exactly this

[antych]

Idiotic question. What you earn is irrelevant unless you take into account your outgoings, savings and investments. You just came here for sympathy, not financial advice.

I just noticed your other comments about perception... what do you care more about, social acceptance and fitting in with your peers or driving the car you want? I don't think we can help you with that.

[Wills2]

Originally Posted by RAAJ

Hello all

OK I got a question for you. What sort of money should you be earning to be able to afford a new M car? The reason I ask is because I recently ordered my M4 and I take delivery of it in a couple of weeks. However I currently drive a 6 month old 335d m sport with pretty much every option ticked cost me almost 50k. The first day I took it to work I found people looked at me funny and made comments and say things like you carnt afford that on your salary. Some think that I'm a drug dealer but don't say it to my face. I've had general people saying that you must be minting it. And that just my 335d. To be honest I don't give a 5H!T what they say but it seems like people are quick to comment. I'm not a rich bloke have a decent enough job and the other half works and studies. So should we be raking it in to have a M car?

How do people know what you earn?

[gatsojon]

It's just about priorities isn't it. Most of us on here are 'petrol-heads', 'car nuts' or however we might be described and, therefore, prioritise more of our earnings on cars. Just as others spend loads more on cloths or going out or kitchens or fishing.

You have to spend it on something and I'm very happy that the deals highlighted here meant I could justify a proper petrol-head's car.

If I get comments, I think I might go with the "I got a great deal" line and leave it at that - No lies there

[M5essex]

I get stick all the time from my mates, family and colleagues saying 'blimey Damo you're f***ing minted mate aint ya with all your cars..!' in a typical Essex accent . but you got to roll with the punches, laugh with them and tell them what a great negotiator you are and how hard you've worked to get them but no-one knows your true financial position, earnings, loans, debts or general financial stresses and strains and nor should they. it's bugger all to do with them. I know many will be jealous, but most admire what a twenty/thirty something can achieve when they put pressure on themselves and set goals to achieve.

for what it's worth I don't own any of my cars, as they are all on pcp and my company pays for most of them for business use I contribute towards them and there are some tax implications (advantages too), but if it was my net money, I wouldn't be able, nor would I want to pay for them all out of my own pocket.

hold your head high, pat yourself on the back and be proud of what you've achieved and accomplished to be able to afford a nice car or the car of your dreams... if you worry about what other people think all the time and don't like the looks, comments or feeling of driving (not necessarily owning) a prestige car and are not getting the enjoyment you should, then you need to re-evaluate what and who is important to you.

like others have said, don't put yourself or family under undue strain to get the car. prioritise and make calculated decisions. my man-maths calculator has worked wonders for me over the years and my negotiations skills with my boss have generally got me to where I want to be

go get your M4 and enjoy it like we all should do!

[dopper99]

Originally Posted by gatsojon

It's just about priorities isn't it. Most of us on here are 'petrol-heads', 'car nuts' or however we might be described and, therefore, prioritise more of our earnings on cars. Just as others spend loads more on cloths or going out or kitchens or fishing.

You have to spend it on something and I'm very happy that the deals highlighted here meant I could justify a proper petrol-head's car.

If I get comments, I think I might go with the "I got a great deal" line and leave it at that - No lies there

Exactly. Probably 80-90% of neighbours, friends, family, work colleagues probably all think we are bonkers buying these cars so the OP is not alone.

But its none of their business, its your money and its what you want.

[JustChris]

Damn in too late for




All that matters though is if you can EASILY afford it. If it's a stretch I'd say not a clever move at all. I've said it time and again, really if all else that you care for and is needed by your family is SAFE, then why not. I got a stinking deal first time around too and could still be comfortable, knowing you have a great deal too certainly helps!

Personally we earn more than £30k and less than £200k

[Jimbooo]

As others have said your car alone does not indicate wealth. I have friends who live in £million+ houses that drive a third hand old run about and cycle to work. then again theres people like me that drive an M4 and an X5 and the PCP's on those together are almost twice my mortgage. without looking at the bigger picture there is no way you can justify drawing conclusions about someones worth based on their car alone.

Obviously you have to be able to afford the outlay initially or monthly if on finance but i suppose the real sensible question is can you afford the fuel, insurance and tax. if so then to hell with it.

I dont have any hobbies so my car costs is my extravagance. well apart from detailing which gets expensive but thats still car related lol
Some people spend their money on going out every friday and saturday night, booze, drugs, girls, expensive clothes etc. i can guarantee those people spend as much on that over a month than i do on my M4.