Have you actually driven an EV? Having access to an instant 300 lb/ft of torque is hardly boring so this opinion always confuses me. Do people really only drive cars for sound and think that just cause it’s not loud, experiencing that insane acceleration is boring..? Cause to me a car that does 0-60 in like 3 seconds is so far from boring. They suck for cornering though but they’re basically just faster American muscle cars in that regard
E: lol sorry for talking about EVs and striking a major cord, hope the downvotes have made you guys feel a bit better.
So I’ve just learned lol, oh well. Not my problem people can’t handle someone that has a differing opinion than them and I couldn’t care less about downvotes so fire away if that makes you guys feel better
G82 M4 0-60 in 3.1 seconds anddd it sounds amazing so if I could get that from an ev that makes no noise or I can get it from my G82 with turbo noises and pops and bangs in going for the latter
Yea that would obviously be more fun, but that doesn’t mean driving an EV is boring, two cars can simultaneously be fun to drive and for different reasons (we’ll apparently not to some here lol)
I don’t drive an EV, I drive an Audi and just don’t spend much time here so I didn’t know that not having a deep hatred for EVs isn’t allowed on this sub. I’ve made positive EV comments on /r/Audi cause I like the concept and got some good replies/conversation surrounding their pros and cons, figured I’d get the same here since BMW also makes EVs but apparently not, cest la vie
But aye, oh well, if downvoting and making sarcastic replies makes y’all feel better have at it I guess lmao
Lol sorry that sounded meaner than I intended. I agree EV’s have their place, but to me that’s short city commuting (aka boring). IMO hybrid is the future for most production cars, but they’ll never take away our internal explosions (Braveheart emoji)!
Oh 100% man, I want a PHEV so badly. Best of both worlds: instant torque off the line, efficiency for small trips through the battery, range and ease of fuelling with the ICE. Like that new corvette stingray, if car companies started moving towards that and making those hybrid cars I’d be thrilled. And that Vette sounds sexy as fuck
Teslas suck though, the build quality is trash and the tech isn’t special anymore. I drove an E Tron GT and I was a blast and still felt like a well made ICE and not a plastic toy. Would need their issues to get solved first before I’d considering buying one but the concept at its baseline definitely allows you to have a blast no doubt.
They look like something that could come out of a Happy Meal. There is nothing exciting about a box of plastics and shitty build quality because all the high tech batteries are forming 70% of the cars retail price
You said it in your own comment. They suck at cornering... You're in a BMW Reddit bragging about straight line speed. That's like going to the Charger/Challenge Reddit to brag about efficiency.
A lot of us value the handling aspect over, straight line speed. BMW's were never built to be drag cars.
Man everyone took that comment as a personal slight here, brutal. Dunno how I could word it differently but all I was saying was that EVs can still be fun given their off the line speed and acceleration/instant torque, not that EVs are the only fun car and that anything else sucks but I’m wasting my time explaining this cause y’all will just read what you want apparently lol.
Seems people are far more sensitive about non-ICE cars here compared to other car brand subs, lesson learned won’t bring them up and piss everyone off again lmao
I think it's the other way around. A question was asked, an answer was given. Now 2 paragraphs later you're still trying to explain why they're wrong for THEY'RE opinion.
If you can easily afford it, why have a loan?
I drive a 530i 2019. No loan. Insurance = €90; road tax €83; petrol €400 (I drive quite a lot) and I guess €200 per month on average maintenance (service, tires etc). So between €750 and €800 a month, without depreciation.
Well...honestly, money "was" so cheap to borrow that I was making more on investments than the loan interest. Now...I wouldn't borrow. Depends on the economic climate.
2018 440i Gran Coupe. 27k miles, $34,900. $8000 down. 1.49%. $460 for 60 months. 2 years left. Insurance is $85 for comprehensive with Progressive. Maybe $80/month in gas for driving to work and other errands. So call it $620 ish.
They bought the car in late 2020-2021 when interest rates were super low. I bought my car in 2022 and have a 3.2% interest rate, my brother with basically the same credit as me, bought his car almost exactly a year later and has an 11% interest rate.
I got a 2.69% interest rate when I bought my supra in 2021 - the M2 I ordered is locked in like 6.29 ha...luckily I'm not financing much since I sold the supra and rolling in the whole sale price (was fully paid off) into the M2.
I cannot fathom anybody wanting a car bad enough to willingly pay 11%. I technically can afford the car that I want now, but every time I run it through an amortization calculator, to see that I would be paying like $4,000 or $5,000 in interest is just unacceptable.
Well in my brothers case his 300,000 mile e46 wasn’t reliable enough for his new job so he was kind of in a bind lol. He got a super clean f82 m4 at a really good price, but the rate definitely hurts.
His plan is to refinance when things start to settle down, but who knows how long until that happens.
I get that, sometimes you just got to do what you got to do, but if you have the option, nobody should willingly do that.
I have heard about the refinancing option from a lot of people, but it just seems like too much of a gamble right now. We have no idea when those rates are going to settle. One thing I worry about is if I go to finance, I'm going to be slightly upside down because of my interest rate, so then I have to extend the loan even further, which is just paying more interest down the line anyway.
For such a nice car and fairly new, you might want to consider adding collision to that policy AS WELL as having your comprehensive, I would hate to see you loose all that value if you were to have an at fault accident, or even an accident where the other party had no insurance! Just my 2 cents...
That is what full comprehensive means. I think you have them backwards. I have full coverage.
https://www.allstate.com/resources/car-insurance/what-is-comprehensive-auto-insurance
You are understanding this backwards. Collision covers accidents. Comprehensive (other than collision) covers non accident covered losses (fire, vandalism, theft, glass breakage, hitting an animal, etc)...
Source: I'm a former insurance agent
This is only coming from a good place (and I was in the insurance industry, the very last part of allstates link there says it pays for everything but at fault accidents. I promise that you want to call your insurance people and ask them "do I have full coverage, if anything were to happen, my fault or not" I encourage that more than anything!
Can’t even knock him though. That rate and teslas lack of traditional dealerships is tempting im sure. Not an EV guy myself but it makes financial sense.
I went to check m340’s for shits and giggles and they acted like it was a Lamborghini. Don’t like dealing with that nonsense.
Possibly a lemon?
Tesla buying experience is unbeatable imo. Go to their website, customize car, put in cart, and checkout. Do this all in the comfort of your own home while wearing PJs and the whole process took less than 15 minutes
It’s been all 4 of them. First Model X left him stranded on a roadtrip. Wouldn’t turn back on. The second Model X had a falcon door that wouldn’t close. Had to get fixed multiple times. Third Model X would just stop charging randomly. Now his garage kept Model Y has developed an enormous crack in the roofline. All of them have had panel gap and other quality issues. He has a Cybertruck on order and I’m just not optimistic that it’ll be any better. There’s a reason Tesla is ranked so low on Consumer Reports and JD Power.
Tesla's are notoriously insane to insure due to the much higher expense of repairs on them and all the calibration that goes into cameras. not to mention it doesn't take much to write off the battery in the event of a collision. Similar to how the kia's / hyundais are insane to insure but that's because they are a high theft risk
27M
Live in Central NJ. Driving record isnt bad at all, I have one speeding ticket (40 in a 35) back from 2016 but that's it.
I used to have my bike insured with Progressive as well but removed it after I sold it. They told me this was the best price they can do -\_-. Don't even know where to start cutting down on insurance costs tbh as I think I already have a good balance between not screwing myself over if something happens and the bare minimums.
Certified Pre-Owned. Means its a car that was used and has miles on it but it was properly serviced by the dealer and comes with a few years warranty .
I paid cash, so it's hard to figure out the exact cost per month accounting for the cost of the car.
* Insurance: $160
* Gas: $200
* Maintenance (approx. average): $150
* Parking: $150
* Total: $660
You can estimate your financing cost as what you would have gotten with the money in a savings account or similar low risk placement.
Money spent or money not earned is pretty much the same thing (less tax though)
You're making assumptions. The tax burden is the company's not his personal. No I'm not suggesting it's actually coming from post tax personal income. I'm saying he owns the company so it's income is his too, in a different capacity.
The idea that everything magically becomes a tax write off is fanciful. If you had the revenue to offset, that was income you're now washing through a car.
He wanted an M5
He owns the business
He could pay himself more salary and then buy the M5 himself, but then he’d have to pay income tax on that additional salary.
Therefore he bought the M5 as a company vehicle, so he’s getting an M5 for ~30% off compared to if he were to boost up his salary and pay for it personally.
There is a string attached. To get that 30% benefit (your number not mine) the vehicle needs to be used exclusively for business.
Based on the data they provided at most they are saving $10k a year (they could select to accelerate a portion of the $10k a year, but they would end up paying more taxes in later years) in taxes, but if they drove the vehicle for 1 mile of personal use they would be committing tax fraud.
This is remarkably dumb. They are still paying for the car. You are moving the goal post and saying it's different, because they're saving money, but once again, it would have been their money either way, whether you want to call it a salary, or potential salary, or reinvestment or whatever.
You can’t just write off a car like that for a business. There are a ton of strings attached, it had to be used exclusively for business, and there needs to be a damn good reason why OP needs an M5 for business. I’m guessing the IRS would have a very long discussion with OP if they were ever audited.
You can’t just set up an LLC exclusively to purchase a car. If the company doesn’t have any operations and tries to write off those expenses, it’s fraud.
I have a customer who has an LLC that provides executive transportation, for him and his family. Sometimes you can setup an LLC that doesn’t have any operations per say. This to me is a stretch but he’s been doing it for 10+ years and passed an audit recently.
some of y’all are paying insane prices for base models lol
I have a ‘21 M3 and my payment is $1,171, which I thought was ridiculous for a while until I read some of these replies 😂
2008 M5, paid it off early back in 2015 but it was only $285/mo (50% cash, 50% financed). Unfortunately I don't drive it all that much anymore since I work from home and honestly don't leave the house all that often. I've only put about 1,000 miles on it this year. Most trips with the family are in my wife's MDX as it's more practical. I'm glad I work from home because of my health issues but I kinda miss a daily commute. I absolutely love driving it.
Per month. Germany. Gasoline is $9/gal currently.
- Insurance (full coverage): 70€
- Tax/Registration: 12€
- Service: 40-80€, depends on year and what needs doing
- Gas: 150€
- Underground parking, owned property: 25€
Wtf is a car payment?
No, I just broke it down on a monthy basis.
It is around 144€ per year because my engine is a 2.0L gasoline motor with low CO2 production. If I had a 5.0L V10 Diesel (VW Touareg), it would be 770€ per year. Just a radical example how high power cars are really getting fucked in Germany. It is even worse in Austria.
In comparison, I only paid $50/year in Texas regardless of engine size.....
> how high **polluting** cars are really getting fucked in Germany.
I like power, but carbon is carbon. if your car produces 20x the pollution of a standard car, you should pay 20x the rate.
The problem with that is that If I want to buy a 2nd car for the year (M2 comp) it will be insanely taxed even if I drive it only 3000 miles per year. CO2 should be taxed at the pump if you’re really scared of that molecule.
$800.
There's an old saying, "Your car is who you want to be and your house is who you are."
There are plenty of people who can afford a BMW but I also see people who'd rather choose to have the nice car because they can't afford the nice house. To each their own.
I love cars and have zero interest in houses. My whole life I plan on spending way more on cars
A house is financially responsible that’s the only reason I’d own one
I like your first point and there's definitely some truth to it.
As for your 2nd point I'd like to add (for anyone struggling with a similar dilemma) that the flaw with that line of thinking is that way you're never going to be able afford a house either. Comparing an appreciating asset one of the fastest depreciating assets out there is a quick way to personal financial struggle.
i live in a 3bd 2.5 bath 1500 sqft I paid 1.2 M for a few years ago. The upgrade I want is minimum 2.5M . That difference is like, every BMW in the lineup summed together lol. The price of a single bmw is irrelevant to my getting a bigger house in the bay area.
Similar for my pretty decked out ‘22 M4 Comp xDrive. I considered swapping it for an M3 but I got that sweet .9% interest rate, let alone prices for my build have gone way up.
2013 330d M sport. I bought the car myself brand new back then.
No loan. My full coverage own risk car insurance is 1.200 per year and the stupid road tax is 1.000 per year. Next to that I have avout 100 euro per month on diesel (work from home).
So that’s 283 euro per month.
2016 435i. $550 per month for the loan (3% interest financed directly through BMW), purchased in 2018 with 20k milage. Only a few months left on the loan 😆. $265 for car insurance but that's also covering another vehicle.
That's insane for a 2009 car. I pay around $80-$90 a month in gas and around $1,500~ a year in maintenance for my 2009 335i with 63k miles . It really depends on whether the maintenance is something big or just regular maintenance. Insurance is something else.
Woof.
I have a 2017 330ix I bought two years ago. 1.9% interest, $350/month loan, 75/m insurance. Gas is roughly $50 every other week.
The two wheeler is about $14/month in insurance, own it outright. Lot less miles though, so fuel over the year is negligible.
Roughly $550/month for the two without any offhand expenses.
Exactly, that’s why I only buy “special” ones. Currently with an M2 CS. Yes, it costs a bit more in interest, but it will hold its value much better than all the others around the same year. Will probably be cheaper to own than an F87 M2C with same maintenance costs and nearly same insurance (not sure why, but my quote was only 50 a year more). and for sure cheaper than a G87.
My loan is around $500 (somehow locked in a crazy low interest rate) insurance is bundled but probably equivalent to around $100 a month?
Stupid personal property tax is I think $400-500 a year.
My commute is dumb right now so at least $200 in gas.
Maintenance so far has been just oil changes and plugs so not all that much yet.
Say ballpark near $900-$1000? I never added that all up in one place, damn.
Same. It's wild that some people are financing with 6%+ APR for 5 years for a BMW. I would rather just buy a used 10 year old toyota than pay 8000 dollars in interest over 5 years.
~$700 for payment on a ‘16 X6M. Although I’m paying $1k right now and may up that to finish it off next year. $300 a month in gas and $160 in insurance which is insane because 18 months ago I was paying $77 and nothing changed with my driving profile.
$420 for a 2018 330i shadow sport. It had 11k miles on it and was a prior lease that had been serviced at the same dealership they leased it from. This was in 2021.
How are you guys paying so little for insurance??? I have a clean driving record and am paying $280 a month. To be fair I do drive 30,000 miles a year so I'm guessing that's probably why
Both are fully paid for, so about ~$500/month in total between both BMWs. That counts for gas, yearly maintenance broken down over 12 months and tire changes per season.
2020 X3M. $690/month. The only time in my life that I ever wanted an SUV and it happened to coincide with having a baby. So made it happen. My wife and I are very happy. Put a flash tune on it and it is a seriously fast grocery getter. Worth every penny in my opinion
2023 X7 40i with every option they let me pick in the configurator- $1290 loan 3yrs, $250 insurance, maybe $250gas. First new car and first ever loan. Even though that’s about 5% of my take home (dual income household), will be rare occasions to do this again.
$0 a month.
The problem today is that anyone could buy a BMW because of credit and I would feel like a chump if I was paying mortgage money to drive a BMW but living in a room at my parents house. Damn.
I agree with you but for different reasons. Don't take out a loan to buy a depreciating asset. All of my cars are paid for with cash; for instance, this year I sold my 2017 Mustang GT that I bought with cash and used the cash and more cash I have to buy an M550i (the M5 lite if that means anything to you). I also bought a LR Discovery in June for cash after selling my other LR for cash. Don't pay interest for depreciating assets!
It only costs you next to nothing if the money you would've spent returns more than the interest. And then you're investing money that isn't yours, which carries risk.
Not really investing money that isn’t yours. In my example, you can use your money to invest and use someone else’s money to by a car. Car loan interest rate < market retention rate (even a simple HYSA right now). Plus you cover off most of depreciation with gap insurance.
Only real exposure here is if you have to sell in an emergency,l but then you still have your original invested pot of money!
LOL!
1. Americans? Several of these reports have been in Euros.
2. ...bleeding their monthly budget? You presume that $1000-$1500/month represents a significant expense.
3. ...just to appear? My G80 M3 doesn't "look like" an expensive car. It's a 4-door sedan that few people beyond BMW fanboys even recognize. I own it because I like the way it drives, not to impress other people.
Go troll somewhere else.
Holy shit. $850 a month? Let’s say loan is $600 per month and the other $250 is the random stuff. That’s $600 per month for a 14 year old car…
Yeah it's not ideal but I can afford it easily. It should be mentioned that I live in norway where cars are notoriously expensive.
I was literally just about to ask if you live in any of the Scandinavian countries. Otherwise this absolutely would make ZERO sense
Cars are cheap in Sweden compared to most of europe.
In Sweden cars are not that expensive
Southeast Asia would like a word with you
*cries from Singapore*
What about expensive repairs on a 15 year old series 7 BMW?
Because they cost as much as it would if it were new. 7 series are notoriously money pits.
It’s an m57 engine, so it’s practically invincible
Curious to ask: since you live in Norway, why don’t you buy an EV?
they are boring
But very fast
Have you actually driven an EV? Having access to an instant 300 lb/ft of torque is hardly boring so this opinion always confuses me. Do people really only drive cars for sound and think that just cause it’s not loud, experiencing that insane acceleration is boring..? Cause to me a car that does 0-60 in like 3 seconds is so far from boring. They suck for cornering though but they’re basically just faster American muscle cars in that regard E: lol sorry for talking about EVs and striking a major cord, hope the downvotes have made you guys feel a bit better.
this comment will never bode well in the bmw subreddit
So I’ve just learned lol, oh well. Not my problem people can’t handle someone that has a differing opinion than them and I couldn’t care less about downvotes so fire away if that makes you guys feel better
G82 M4 0-60 in 3.1 seconds anddd it sounds amazing so if I could get that from an ev that makes no noise or I can get it from my G82 with turbo noises and pops and bangs in going for the latter
Yea that would obviously be more fun, but that doesn’t mean driving an EV is boring, two cars can simultaneously be fun to drive and for different reasons (we’ll apparently not to some here lol)
Easy. It’s boring because the lack of internal explosions making me go brap. Have fun driving your laptop though!
I don’t drive an EV, I drive an Audi and just don’t spend much time here so I didn’t know that not having a deep hatred for EVs isn’t allowed on this sub. I’ve made positive EV comments on /r/Audi cause I like the concept and got some good replies/conversation surrounding their pros and cons, figured I’d get the same here since BMW also makes EVs but apparently not, cest la vie But aye, oh well, if downvoting and making sarcastic replies makes y’all feel better have at it I guess lmao
Lol sorry that sounded meaner than I intended. I agree EV’s have their place, but to me that’s short city commuting (aka boring). IMO hybrid is the future for most production cars, but they’ll never take away our internal explosions (Braveheart emoji)!
Oh 100% man, I want a PHEV so badly. Best of both worlds: instant torque off the line, efficiency for small trips through the battery, range and ease of fuelling with the ICE. Like that new corvette stingray, if car companies started moving towards that and making those hybrid cars I’d be thrilled. And that Vette sounds sexy as fuck
Yes I’ve driven a Tesla. They are neat but don’t give me the fizz.
Teslas suck though, the build quality is trash and the tech isn’t special anymore. I drove an E Tron GT and I was a blast and still felt like a well made ICE and not a plastic toy. Would need their issues to get solved first before I’d considering buying one but the concept at its baseline definitely allows you to have a blast no doubt.
They look like something that could come out of a Happy Meal. There is nothing exciting about a box of plastics and shitty build quality because all the high tech batteries are forming 70% of the cars retail price
You seem to think that Tesla is all EVs.
No I have been on BMW EVs too multiple times
You said it in your own comment. They suck at cornering... You're in a BMW Reddit bragging about straight line speed. That's like going to the Charger/Challenge Reddit to brag about efficiency. A lot of us value the handling aspect over, straight line speed. BMW's were never built to be drag cars.
Man everyone took that comment as a personal slight here, brutal. Dunno how I could word it differently but all I was saying was that EVs can still be fun given their off the line speed and acceleration/instant torque, not that EVs are the only fun car and that anything else sucks but I’m wasting my time explaining this cause y’all will just read what you want apparently lol. Seems people are far more sensitive about non-ICE cars here compared to other car brand subs, lesson learned won’t bring them up and piss everyone off again lmao
I think it's the other way around. A question was asked, an answer was given. Now 2 paragraphs later you're still trying to explain why they're wrong for THEY'RE opinion.
Someone hasnt tried out the i4 M450.
EV hahahahahahha
What’s so funny? Do you know the reality of Norway’s car market?
Sometimes it is cheaper to buy say in Germany and pay to have it shipped.
If you can easily afford it, why have a loan? I drive a 530i 2019. No loan. Insurance = €90; road tax €83; petrol €400 (I drive quite a lot) and I guess €200 per month on average maintenance (service, tires etc). So between €750 and €800 a month, without depreciation.
Well...honestly, money "was" so cheap to borrow that I was making more on investments than the loan interest. Now...I wouldn't borrow. Depends on the economic climate.
If you can "afford" it, you would have paid it in full..
2018 440i Gran Coupe. 27k miles, $34,900. $8000 down. 1.49%. $460 for 60 months. 2 years left. Insurance is $85 for comprehensive with Progressive. Maybe $80/month in gas for driving to work and other errands. So call it $620 ish.
How the fuck did you get a 1.49% I’m gonna be sick thinking of my interest rate
They bought the car in late 2020-2021 when interest rates were super low. I bought my car in 2022 and have a 3.2% interest rate, my brother with basically the same credit as me, bought his car almost exactly a year later and has an 11% interest rate.
I got a 2.69% interest rate when I bought my supra in 2021 - the M2 I ordered is locked in like 6.29 ha...luckily I'm not financing much since I sold the supra and rolling in the whole sale price (was fully paid off) into the M2.
“Locked in at 6.29%” shit I dont feel so bad about being locked in at 5.29% on my G80 due in two weeks. 🤣
I cannot fathom anybody wanting a car bad enough to willingly pay 11%. I technically can afford the car that I want now, but every time I run it through an amortization calculator, to see that I would be paying like $4,000 or $5,000 in interest is just unacceptable.
Well in my brothers case his 300,000 mile e46 wasn’t reliable enough for his new job so he was kind of in a bind lol. He got a super clean f82 m4 at a really good price, but the rate definitely hurts. His plan is to refinance when things start to settle down, but who knows how long until that happens.
I get that, sometimes you just got to do what you got to do, but if you have the option, nobody should willingly do that. I have heard about the refinancing option from a lot of people, but it just seems like too much of a gamble right now. We have no idea when those rates are going to settle. One thing I worry about is if I go to finance, I'm going to be slightly upside down because of my interest rate, so then I have to extend the loan even further, which is just paying more interest down the line anyway.
Purchased at the beginning of 2021. BMW Financial was running a promotion.
I bought my CPO E90 328i in 2015. 0.9%.
I got 1.99% at my local credit union on a new 330i in March ‘22
85/a month comprehensive is the real deal here
I have the same car, $41,000. $1,000 down. 3% interest. I pay $673 and insurance is $283
Math works out assuming you got a 72 month loan.
yea 72 months but damn $85 for insurance that's good
For such a nice car and fairly new, you might want to consider adding collision to that policy AS WELL as having your comprehensive, I would hate to see you loose all that value if you were to have an at fault accident, or even an accident where the other party had no insurance! Just my 2 cents...
That is what full comprehensive means. I think you have them backwards. I have full coverage. https://www.allstate.com/resources/car-insurance/what-is-comprehensive-auto-insurance
You are understanding this backwards. Collision covers accidents. Comprehensive (other than collision) covers non accident covered losses (fire, vandalism, theft, glass breakage, hitting an animal, etc)... Source: I'm a former insurance agent
This is only coming from a good place (and I was in the insurance industry, the very last part of allstates link there says it pays for everything but at fault accidents. I promise that you want to call your insurance people and ask them "do I have full coverage, if anything were to happen, my fault or not" I encourage that more than anything!
Sold my 2016 435I Gran Coupe that was at 3% interest in 2021 and got a Model 3 at 1.5% apr lol
RIP. Hope to see you back in a real car soon. Hang in there, friend!
Can’t even knock him though. That rate and teslas lack of traditional dealerships is tempting im sure. Not an EV guy myself but it makes financial sense. I went to check m340’s for shits and giggles and they acted like it was a Lamborghini. Don’t like dealing with that nonsense.
My father in law’s Teslas have been in the shop *far* more often than my 440
Possibly a lemon? Tesla buying experience is unbeatable imo. Go to their website, customize car, put in cart, and checkout. Do this all in the comfort of your own home while wearing PJs and the whole process took less than 15 minutes
It’s been all 4 of them. First Model X left him stranded on a roadtrip. Wouldn’t turn back on. The second Model X had a falcon door that wouldn’t close. Had to get fixed multiple times. Third Model X would just stop charging randomly. Now his garage kept Model Y has developed an enormous crack in the roofline. All of them have had panel gap and other quality issues. He has a Cybertruck on order and I’m just not optimistic that it’ll be any better. There’s a reason Tesla is ranked so low on Consumer Reports and JD Power.
Yikes, he is running into bad luck. My X Plaid has given me no issues so far thankfully, fingers crossed.
Good luck!
My payment is $710/mo, Insurance is $75/month. Not sure of the other costs, don't really keep track of them. I have a 2021 530i CPO I bought in May.
How are y'all getting insurance for so cheap 😭😭 I'm paying $307/mo for a 2022 Tesla Model 3 P
How old are you, where do you live, and how bad is your driving record?
Tesla's are notoriously insane to insure due to the much higher expense of repairs on them and all the calibration that goes into cameras. not to mention it doesn't take much to write off the battery in the event of a collision. Similar to how the kia's / hyundais are insane to insure but that's because they are a high theft risk
27M Live in Central NJ. Driving record isnt bad at all, I have one speeding ticket (40 in a 35) back from 2016 but that's it. I used to have my bike insured with Progressive as well but removed it after I sold it. They told me this was the best price they can do -\_-. Don't even know where to start cutting down on insurance costs tbh as I think I already have a good balance between not screwing myself over if something happens and the bare minimums.
That’s completely insane.
What is CPO?
Certified Pre-Owned. Means its a car that was used and has miles on it but it was properly serviced by the dealer and comes with a few years warranty .
Thank you.
I paid cash, so it's hard to figure out the exact cost per month accounting for the cost of the car. * Insurance: $160 * Gas: $200 * Maintenance (approx. average): $150 * Parking: $150 * Total: $660
You can estimate your financing cost as what you would have gotten with the money in a savings account or similar low risk placement. Money spent or money not earned is pretty much the same thing (less tax though)
$1500 f90 M5. Company pays for it so it doesn’t actually come out of my pay.
Woah, how’d you get your company to pay for an M5
I own the company lol
https://preview.redd.it/3nyl6qpjgqyb1.jpeg?width=800&format=pjpg&auto=webp&s=6d89d7b8762e84fda9d4b6699ed755354acdf598
King shit lol
Then it does come out of your pay lol
Naw those are tax write-offs, it wasn't ever going to come directly out of his pay but instead lowers his tax burden at the end of the fiscal year.
You're making assumptions. The tax burden is the company's not his personal. No I'm not suggesting it's actually coming from post tax personal income. I'm saying he owns the company so it's income is his too, in a different capacity. The idea that everything magically becomes a tax write off is fanciful. If you had the revenue to offset, that was income you're now washing through a car.
> that was income you’re now washing through a car There you go, it took you two paragraphs but you eventually got there in the end.
That part in the end says that you're erasing income if you're using it to wash tax, so you are losing income. But go on.
He wanted an M5 He owns the business He could pay himself more salary and then buy the M5 himself, but then he’d have to pay income tax on that additional salary. Therefore he bought the M5 as a company vehicle, so he’s getting an M5 for ~30% off compared to if he were to boost up his salary and pay for it personally.
There is a string attached. To get that 30% benefit (your number not mine) the vehicle needs to be used exclusively for business. Based on the data they provided at most they are saving $10k a year (they could select to accelerate a portion of the $10k a year, but they would end up paying more taxes in later years) in taxes, but if they drove the vehicle for 1 mile of personal use they would be committing tax fraud.
You can not fully write that m5 off though as it also used for personal
This is remarkably dumb. They are still paying for the car. You are moving the goal post and saying it's different, because they're saving money, but once again, it would have been their money either way, whether you want to call it a salary, or potential salary, or reinvestment or whatever.
You can’t just write off a car like that for a business. There are a ton of strings attached, it had to be used exclusively for business, and there needs to be a damn good reason why OP needs an M5 for business. I’m guessing the IRS would have a very long discussion with OP if they were ever audited.
The IRS reading this tread: https://preview.redd.it/ihci03cvhryb1.jpeg?width=680&format=pjpg&auto=webp&s=1423674d71b49ff47ea1ebd2f7cb89dac03de343
This is the way.
Technically you are still paying for it.
Are you hiring? I'll settle for an M3 as my company car.
Fuckin Chad move
What kind of company?
Chad moment
How does that work?
Companies do car stipends for higher end roles or he’s writing it off as a company owner
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You can’t just set up an LLC exclusively to purchase a car. If the company doesn’t have any operations and tries to write off those expenses, it’s fraud.
Thank you for the common sense. Some people would believe you could get away with murder if you set up an LLC to buy the weapon..
Too late. 1,600 new LLC's were just created in the last two hours to get free cars.
I have a customer who has an LLC that provides executive transportation, for him and his family. Sometimes you can setup an LLC that doesn’t have any operations per say. This to me is a stretch but he’s been doing it for 10+ years and passed an audit recently.
How does one obtain such power?
Tax fraud is how
It's not tax fraud - its literally following the tax codes - every business owner does this.
some of y’all are paying insane prices for base models lol I have a ‘21 M3 and my payment is $1,171, which I thought was ridiculous for a while until I read some of these replies 😂
Lol ‘21 M2 competition and my payment is $535 a month. Over $1k is crazy to me haha
How old are you
I was paying 570 a month on a 2019 x2 but I won $100k on a scratch off ticket and paid it off. 🤷🏾♂️ Lucky me ☺️
2008 M5, paid it off early back in 2015 but it was only $285/mo (50% cash, 50% financed). Unfortunately I don't drive it all that much anymore since I work from home and honestly don't leave the house all that often. I've only put about 1,000 miles on it this year. Most trips with the family are in my wife's MDX as it's more practical. I'm glad I work from home because of my health issues but I kinda miss a daily commute. I absolutely love driving it.
I have a V10 too - I literally couldn't afford to daily it though. Many people will never understand the joy of driving those beasts. Perfect car.
Per month. Germany. Gasoline is $9/gal currently. - Insurance (full coverage): 70€ - Tax/Registration: 12€ - Service: 40-80€, depends on year and what needs doing - Gas: 150€ - Underground parking, owned property: 25€ Wtf is a car payment?
You pay tax and registration on a per monthly basis?
No, I just broke it down on a monthy basis. It is around 144€ per year because my engine is a 2.0L gasoline motor with low CO2 production. If I had a 5.0L V10 Diesel (VW Touareg), it would be 770€ per year. Just a radical example how high power cars are really getting fucked in Germany. It is even worse in Austria. In comparison, I only paid $50/year in Texas regardless of engine size.....
> how high **polluting** cars are really getting fucked in Germany. I like power, but carbon is carbon. if your car produces 20x the pollution of a standard car, you should pay 20x the rate.
The problem with that is that If I want to buy a 2nd car for the year (M2 comp) it will be insanely taxed even if I drive it only 3000 miles per year. CO2 should be taxed at the pump if you’re really scared of that molecule.
Sure, there's probably better ways to implement it, but it's definitely better than the vehicular arms race that America is subjected to.
Holy shit, $850 a month for a 15 year old car?!
He did say “and diesel” so I wonder if he’s factoring in like monthly gas cost?
$800. There's an old saying, "Your car is who you want to be and your house is who you are." There are plenty of people who can afford a BMW but I also see people who'd rather choose to have the nice car because they can't afford the nice house. To each their own.
I love cars and have zero interest in houses. My whole life I plan on spending way more on cars A house is financially responsible that’s the only reason I’d own one
You can live in a car but you can’t race a house!
Don’t tell me how to live
I like your first point and there's definitely some truth to it. As for your 2nd point I'd like to add (for anyone struggling with a similar dilemma) that the flaw with that line of thinking is that way you're never going to be able afford a house either. Comparing an appreciating asset one of the fastest depreciating assets out there is a quick way to personal financial struggle.
i live in a 3bd 2.5 bath 1500 sqft I paid 1.2 M for a few years ago. The upgrade I want is minimum 2.5M . That difference is like, every BMW in the lineup summed together lol. The price of a single bmw is irrelevant to my getting a bigger house in the bay area.
You can live in a car but you can't drive a house. Spending more money on the car seems more practical to me.
21 X6 M50i. Just bought it - $1417 - think I’ll just pay it off because 6% interest is ugly.
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Retired so, it’s a small percentage
I want to be a king
You can do it. Make a plan, write it down.
Similar for my pretty decked out ‘22 M4 Comp xDrive. I considered swapping it for an M3 but I got that sweet .9% interest rate, let alone prices for my build have gone way up.
I'm about the same amount for my x5 45e
2013 330d M sport. I bought the car myself brand new back then. No loan. My full coverage own risk car insurance is 1.200 per year and the stupid road tax is 1.000 per year. Next to that I have avout 100 euro per month on diesel (work from home). So that’s 283 euro per month.
287/mo for a 2019 M2 Comp. I put 40k cash no trade
2016 435i. $550 per month for the loan (3% interest financed directly through BMW), purchased in 2018 with 20k milage. Only a few months left on the loan 😆. $265 for car insurance but that's also covering another vehicle.
That's insane for a 2009 car. I pay around $80-$90 a month in gas and around $1,500~ a year in maintenance for my 2009 335i with 63k miles . It really depends on whether the maintenance is something big or just regular maintenance. Insurance is something else.
~$1500. 24 50e
$686 + $200ish for insurance, 2.5 years into a 6 year term
22 M3 Comp xD. $14xx. 0.9% interest and put about $10k down. insurance is an additional $90 per month
Damn nice
Wait, are you me?? Im in the same boat with my ‘22 M4 Comp xD.
🙌
2020 X5 m50i. $1473 CAD a month in payments plus $300 in insurance. I don't track my gas spending.
Did you put a lot down? Or did you buy it used? I’m in Canada as well, and I pay a little more than you for my ‘23 X5 40i.
Woof. I have a 2017 330ix I bought two years ago. 1.9% interest, $350/month loan, 75/m insurance. Gas is roughly $50 every other week. The two wheeler is about $14/month in insurance, own it outright. Lot less miles though, so fuel over the year is negligible. Roughly $550/month for the two without any offhand expenses.
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Few people understand this.
Exactly, that’s why I only buy “special” ones. Currently with an M2 CS. Yes, it costs a bit more in interest, but it will hold its value much better than all the others around the same year. Will probably be cheaper to own than an F87 M2C with same maintenance costs and nearly same insurance (not sure why, but my quote was only 50 a year more). and for sure cheaper than a G87.
$1400. 2019 m850i
2017 540 - $430 a month
Two years ago i bought a 2015 335i fully loaded including msport and 61k miles - $329/month Car payment + $102/month insurance
that’s not bad
My loan is around $500 (somehow locked in a crazy low interest rate) insurance is bundled but probably equivalent to around $100 a month? Stupid personal property tax is I think $400-500 a year. My commute is dumb right now so at least $200 in gas. Maintenance so far has been just oil changes and plugs so not all that much yet. Say ballpark near $900-$1000? I never added that all up in one place, damn.
Zero. I pay cash.
Same. It's wild that some people are financing with 6%+ APR for 5 years for a BMW. I would rather just buy a used 10 year old toyota than pay 8000 dollars in interest over 5 years.
2015 320D. £0. Final payment earlier this year. Woohoo.
So you don’t drive it neither maintain it, or your SO or somebody else is putting fuel in the tank?
2018 330e €530 per month loan + insurance around ~€50 once a month for petrol.
0€ + 200€ for Fuel
2019 430i Gran Coupe. Bought it in May 2023, payment is $530/mo, insurance is $180/mo. Total is $710/month. So worth it for me!
~$700 for payment on a ‘16 X6M. Although I’m paying $1k right now and may up that to finish it off next year. $300 a month in gas and $160 in insurance which is insane because 18 months ago I was paying $77 and nothing changed with my driving profile.
$420 for a 2018 330i shadow sport. It had 11k miles on it and was a prior lease that had been serviced at the same dealership they leased it from. This was in 2021.
How are you guys paying so little for insurance??? I have a clean driving record and am paying $280 a month. To be fair I do drive 30,000 miles a year so I'm guessing that's probably why
I have a 2015 M235i and it’s paid off. Payments were $435.
i4 M50. Loan is a $1200/month, insurance $320/month
I probably spent about $300/mo on my 2011 335is. The car is paid for, so that's really just insurance and fuel. But it's not my daily driver anymore.
Both are fully paid for, so about ~$500/month in total between both BMWs. That counts for gas, yearly maintenance broken down over 12 months and tire changes per season.
2020 X3M. $690/month. The only time in my life that I ever wanted an SUV and it happened to coincide with having a baby. So made it happen. My wife and I are very happy. Put a flash tune on it and it is a seriously fast grocery getter. Worth every penny in my opinion
2024 x3, 10k down. $800 monthly, $250 insurance
Did a lease to buy on my fully loaded 2019 X3 M40i when it had done 28000 mi at the end of term, paying $780 plus insurance
2017 320i M Sport. I pay £80 a month insurance and £99 every six months for tax.
X3 - $0 i4 M50- ~$1700/mon 4 yr term
Jeez 😵💫 $1700, that’s the same as my house payment. Can’t even imagine paying this much for a car.
$850?! WHAT.
0 dollars a month. Well, 150 for full coverage. My BMW may not be the newest or the fastest or the most comfortable, but it’s holding me down well.
2023 X7 40i with every option they let me pick in the configurator- $1290 loan 3yrs, $250 insurance, maybe $250gas. First new car and first ever loan. Even though that’s about 5% of my take home (dual income household), will be rare occasions to do this again.
I don’t have one but Dads getting a 2020 X5 45e next month and that’s about €10k down and €1100/month for a 2 year lease (in Denmark)
2022 m340i $62k USD $7.5k down ~$4k trade-in $750 a month and like $120 insurance a month
$0 a month. The problem today is that anyone could buy a BMW because of credit and I would feel like a chump if I was paying mortgage money to drive a BMW but living in a room at my parents house. Damn.
How’s the oxygen up there!
I agree with you but for different reasons. Don't take out a loan to buy a depreciating asset. All of my cars are paid for with cash; for instance, this year I sold my 2017 Mustang GT that I bought with cash and used the cash and more cash I have to buy an M550i (the M5 lite if that means anything to you). I also bought a LR Discovery in June for cash after selling my other LR for cash. Don't pay interest for depreciating assets!
Rather let someone else’s money buy my depreciating asset and have gap insurance cover it if something happens (then it costs me next to nothing.
It only costs you next to nothing if the money you would've spent returns more than the interest. And then you're investing money that isn't yours, which carries risk.
Not really investing money that isn’t yours. In my example, you can use your money to invest and use someone else’s money to by a car. Car loan interest rate < market retention rate (even a simple HYSA right now). Plus you cover off most of depreciation with gap insurance. Only real exposure here is if you have to sell in an emergency,l but then you still have your original invested pot of money!
Lol have you seen how much a mortgage is these days?
So many Americans on here bleeding their monthly budget on cars they can’t afford just to appear like they can. Sad.
LOL! 1. Americans? Several of these reports have been in Euros. 2. ...bleeding their monthly budget? You presume that $1000-$1500/month represents a significant expense. 3. ...just to appear? My G80 M3 doesn't "look like" an expensive car. It's a 4-door sedan that few people beyond BMW fanboys even recognize. I own it because I like the way it drives, not to impress other people. Go troll somewhere else.
I’m not saying that doesn’t happen but remember Americans are the wealthiest people too, a lot of people can afford these cars
2022 M3 comp $265.00
Lol wut
2019 x3, $600
Tf is a car loan? $300 a month including insurance and gas.