Having car issues and am thinking of saying fuck it and getting a nice car. Anyone have personal experience in making bad financial decisions?

So I drive a Camry and have been having issues with mold in my A/C system. There's a lawsuit against Toyota going on, and Toyota has basically come out and said they can't do anything about the mold.

My car is paid off and I can sell it for around $26k. It's a few years old but runs perfect besides the A/C. I do not want to sell it and would not except for the fact I can't fucking breathe when my A/C is on. Smells like a sweaty gym locker that hasn't been cleaned in years.

I was at the dealer and 2023 Camry's (non-V6) are going for $40k. That's absurd and I refuse to spend that much on a fucking Camry, so the thought crept into my head about getting an actual nice car.

My dream car is a 911 Turbo S, but that's way too much money for me rn. Also can't find one anyway and even if I got an allocation, it would take too long.

I've been looking at the M8 Comp and RS7. The M8 spec I want comes out to around $150k MSRP and my dealer says they could feasibly have it built within 3-4 months.

RS7 comes out to $140k. 911 Turbo S is $250k+ but damn near impossible to get an allocation at Porsche right now.

I've always been extremely conservative with my money. This has allowed me to save a significant amount. The fact my Camry has this issue and that I was unable to find out it existed when I did so much research before buying the car pisses me off. My family has owned several BMW's and have never had a bad experience with the dealer.

I have no debt and currently rent. I know spending $150k on a car when that's my salary is insane, but I plan on making money for the foreseeable future. I am thinking of business school in 2 or 3 years which means selling the car. I've also thought of leasing it (around $2.5k monthly payment with $7k down), but that's $100k down the drain, and I'm confident I could sell a 2023 M8 Comp for more than the remaining $60k or so I would still "owe" if I bought.

I drive max around 10k miles per year. Please do your best to talk me in / out of making this horrible financial decision.

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Comments (119)

Most Helpful
2mo 
IcedxTaro, what's your opinion? Comment below:

As someone who was fiscally conservative with money, I'd say go for it. You live only once, and the day tomorrow is never promised, either.

Yeah, to a lot of people screaming burning money, what's the point of saving all that cash and life turns upside down in your personal health? If you can afford it, why not?

I work in healthcare, and seen one of too many of it happening. Met many who did FIRE to never see the day to ever retire, sadly.

On a positive note…

You've clearly down well for yourself financially. There is no question about it. The no debt adds icing to the cake. Camry @ 40k is absurd, people who tend to spend that much on one are people who are group/cult-like. They dedicate their lives to the brand.

And yes, I plan to buy one in the future once my other things are cared for. Go for a test drive on the Porsche or Audi, purchase and go rip it on Sundays.

  • 7
1mo 
iggs99988, what's your opinion? Comment below:
IcedxTaro

As someone who was fiscally conservative with money, I'd say go for it. You live only once, and the day tomorrow is never promised, either.

Yeah, to a lot of people screaming burning money, what's the point of saving all that cash and life turns upside down in your personal health? If you can afford it, why not?

I work in healthcare, and seen one of too many of it happening. Met many who did FIRE to never see the day to ever retire, sadly.

On a positive note…

You've clearly down well for yourself financially. There is no question about it. The no debt adds icing to the cake. Camry @ 40k is absurd, people who tend to spend that much on one are people who are group/cult-like. They dedicate their lives to the brand.

And yes, I plan to buy one in the future once my other things are cared for. Go for a test drive on the Porsche or Audi, purchase and go rip it on Sundays.

You can use the cope reasoning of "only live once" to justify literally any irresponsible financial decision; it doesn't make it less irresponsible.

You can't afford a $150k car if you make $150k a year. Hell, you can't afford it if you make 2x that. Even if he had a million bucks cash saved, the car would be 15% of his net worth. Just silly.  

1mo 
MonkeyNoise, what's your opinion? Comment below:

Funny, because yes you can live like a miser and have that day to 'enjoy' it never come, but two problems with that logic:

1. It is far FAR more likely that youll end up being the 50 and 60 year old tied to your job, stressed about mortgage, paying kids college, etc. than the millionaire hoarder who dies before being able to enjoy it. For every person who regrets saving too much there are probably 100 who get old and regret saving too little,  buying that boat, car, etc.

2. Financial independence is an asset in itself. If youve ever been cash strapped, or facing huge liabilities, then you know this. You cant sleep, cant breath, stressed all the time, etc. Sure if you have 2 million in the bank account from saving a ton then you aren't 'enjoying' it via a Lambo, but you sure as shit are enjoying it via the financial freedom, security, knowing you can tell your boss to fuck off tomorrow and be ok, etc. Thats a big misconception people have about FIRE. I'd secondly argue that you dont need stuff like a new car to really enjoy your life, and if you do you likely are filling a hole in a poor way driven by marketing and others perceptions of you - but thats another debate.

No way we can give this guy adequate advice without knowing his living expenses and net worth, as well as age/goals (he mentioned business school, but what about kids? He rents, what about getting a house?). A Porsche could make sense for someone making 50k but sitting on 5 Mil in the bank. It could be a disaster for a law partner making 600k but getting killed on divorce payments, child support, private school, etc. 

To say 'YOLO go for it' with what the poster gave above is just irresponsible advice for what is a pretty significant decision 

  • 2
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2mo 
theAudiophile, what's your opinion? Comment below:

If it's your only car, I'd recomment to find something with balance. An Audi RS6 wagon is fun as hell.  AMG E63 is also up there, specifically the wagons. If it's sedan only and you want to wear that BMW badge of pride (I know I do. Been through four and not about to stop) it's the same vote for an M3/M5. It's too bad the new M3 wagon isn't coming stateside. Domestics? Grand Cherokee or Durango SRTs either way.

  • 4
1mo 
Arroz con Pollo, what's your opinion? Comment below:

Buddy with an RSQ8 is probably getting the RS6. Personally never been a wagon fan but I do see the appeal.

Sent my uncle the link to the M8 and he called me right after talking about how even though I can afford it, spending that much money isn't financially responsible. I don't disagree with him lol. He might have convinced me to go with a 5 series for 2-3 years until I go for MBA, then I can fully splurge on my 911 Turbo S.

I'm a big "don't settle" guy. I never spend money unless it's exactly what I want, but I need a car now, and the car I do want (911 Turbo S) is out of my reach. M8 is still technically settling with a large price tag.

540i xDrive is solid. Add executive package and drive off is around $72k excluding any trade-in value (bit less but I always round up when I'm spending money for that buffer zone). I can live with that. Good gas mileage, great car, and performance is huge step up from the Camry.

1mo 
theAudiophile, what's your opinion? Comment below:
Arroz con Pollo

Buddy with an RSQ8 is probably getting the RS6. Personally never been a wagon fan but I do see the appeal.

Sent my uncle the link to the M8 and he called me right after talking about how even though I can afford it, spending that much money isn't financially responsible. I don't disagree with him lol. He might have convinced me to go with a 5 series for 2-3 years until I go for MBA, then I can fully splurge on my 911 Turbo S.

I'm a big "don't settle" guy. I never spend money unless it's exactly what I want, but I need a car now, and the car I do want (911 Turbo S) is out of my reach. M8 is still technically settling with a large price tag.

540i xDrive is solid. Add executive package and drive off is around $72k excluding any trade-in value (bit less but I always round up when I'm spending money for that buffer zone). I can live with that. Good gas mileage, great car, and performance is huge step up from the Camry.

Wagons are awesome. I'll never give up my W8 estate for instance. Thought of a few thought exercises for you so you don't impulse buy an M5 or Focus RS like I've done before (boy do I miss those cars...friggin' soccer moms not paying attention seems to be my undoing):

1) What are you really after? Comfort? Panache? Sport?

2) Does it have to be fresh off the delivery truck custom ordered, or would a CPO in 90%+ config for 70% of the price (with warranty still) be ok?

3) Do you really intend to dump it come b-school time or actually keep it?

4) Will this be your only vehicle and thus need to tick nine out of ten boxes vs a weekend only toy?

5) How much are you willing to set aside yearly for maintenance? Paying $1,300 for tires every 15k miles or $500 brake pads every 5k miles SUCKS for instance.

6) Insurance. If you're financing obviously you gotta get full coverage, and is that another monhtly cost you feel ok handling?

  • 4
1mo 
TheBuellerBanker, what's your opinion? Comment below:

Be careful with the RS6 though. My car club had one and the engine blew out after a couple years and im sure some of it was in part to people pushing it when they took it out but it was still premature based on the year. Audi definitely overtuned the engine for maximum torque output and it can cause major issues down the road

  • 1
1mo 
TechBanking, what's your opinion? Comment below:
theAudiophile

If it's your only car, I'd recomment to find something with balance. An Audi RS6 wagon is fun as hell.  AMG E63 is also up there, specifically the wagons. If it's sedan only and you want to wear that BMW badge of pride (I know I do. Been through four and not about to stop) it's the same vote for an M3/M5. It's too bad the new M3 wagon isn't coming stateside. Domestics? Grand Cherokee or Durango SRTs either way.

I've got an E63s wagon. It's fantastic. 

  • 1
1mo 
theAudiophile, what's your opinion? Comment below:
TechBanking

I've got an E63s wagon. It's fantastic. 

I. Want. Your. Car. Lol

Got a 'now' old school VW W8 estate, looking to pick up an Alpina B3 estate. But those last run E63's? Those are something else! Mad props my fellow monkey!

2mo 
matteo_moravezzi, what's your opinion? Comment below:

Lease a good car, there will always be a guy that will buy it off you when you go studying.

1mo 
matteo_moravezzi, what's your opinion? Comment below:

Lease to sell, i dont know if that is how you can operate in your geo.

You can lease the car then sell the rights to that leasing - usually with some discount but you get back some of the value you have already put in the car

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

I'm a big fan of the Lotus Evora. I've read that it is one of the most 'fun' cars to drive out there. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
Arroz con Pollo, what's your opinion? Comment below:

Big fan of those but the scarcity makes service a pain, especially if something goes wrong. Also didn't they end in 2021? I'm looking to buy new. Not a fan of purchasing used now that I have the money. My first car was bought from a neighbor. Sold it before it started having issues then drove a family car for a few years

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:
Arroz con Pollo

Big fan of those but the scarcity makes service a pain, especially if something goes wrong. Also didn't they end in 2021? I'm looking to buy new. Not a fan of purchasing used now that I have the money. My first car was bought from a neighbor. Sold it before it started having issues then drove a family car for a few years

Yeah good points. I almost bought an Evora years ago and was really nervous about the service. I guess that makes brands like Porsche and BMW M all the more attractive as there is always a service shop near. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
theAudiophile, what's your opinion? Comment below:
Isaiah_53_5 💎🙌💎🙌💎

I'm a big fan of the Lotus Evora. I've read that it is one of the most 'fun' cars to drive out there. 

I'm holding out for the new Emira. Even the base 4cyl model should be nuts. The Emira is very much in my sights as the next car. I4 or V6 model, I don't think I'd care either way. Just that the I4 doesn't get a manual option unfortunately.

  • 1
1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:
theAudiophile
Isaiah_53_5 💎🙌💎🙌💎

I'm a big fan of the Lotus Evora. I've read that it is one of the most 'fun' cars to drive out there. 

I'm holding out for the new Emira. Even the base 4cyl model should be nuts. The Emira is very much in my sights as the next car. I4 or V6 model, I don't think I'd care either way. Just that the I4 doesn't get a manual option unfortunately.

Yeah the V6 Emira looks so sick. Better than the Evora. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
alanti234, what's your opinion? Comment below:

I've had a deposit down for the Emira since March, but tbh I am starting to think about pulling the deposit and putting it towards something else. The performance seems too compromised relative to other cars in the segment, and Lotus can't seem to get their act together on actually making the cars. 

I love the look of the Evora GT and the performance is better on paper, but the interior is really compromised imo for a $100k+ car. Lotus is one of those brands that I want to love so badly, but they can't seem to quite get their shit together.

1mo 
2rigged2fail, what's your opinion? Comment below:

in terms of leasing, are auto financing firms not going to have to pass on higher interest costs soon?

1mo 
Pitchdeck Pirate, what's your opinion? Comment below:

I've been obsessed with Porsche and have made it a goal of mine to own one of their cars. They make the greatest sports car you can purchase so I definitely see the appeal. Unfortunately, you're gonna be really hard pressed to find one of these cars brand new right now. Think PS5 type of situation. If it were me, I would look into the Cayman GT4 / GT4 RS. Similar issue to 911 Turbo S with respect to allocations obviously, but you might have a little more luck getting these new.

In my opinion, the Cayman GT4 and RS models are the greatest sports cars to release in at least the last decade. Especially the GT4 RS, from what I've heard the driving experience is like no other from the mid-engine 4.0 flat six making between 450-500 wheel depending on RS or not. The regular GT4 makes around 400 and the new RS models are boasting similar stats to the new swan-neck GT3 at nearly 500 wheel.

Apologies for the long write-up, but I would not completely rule out the idea of a used one. I know you may be a little bit "scared off" due to some of your experiences and you are certainly right that there is always risk involved, but I know there are numerous 2020/2021/2022 Cayman GT4s with 1-3k miles on them. They also come in at considerably lower MSRP being that the models start between 100-120 (reg GT4) and 160-180 (RS model). Keep in mind that the RS is inflated as hell, would probably run you 911 Turbo S numbers if you wanted a new one (250k+)

The one thing I'll leave you with is this: Before you completely rule out the used idea remember that there is a reason that Porsche models like the Cayman and 911 hold their value. They're unbelievably well-made cars and you pay for the ability to throw them around, run them hard, and slide them up and down mountains. Hopefully this was helpful, and as far as big money, 911s and other Porsche GT cars are the best sports car for the money in my opinion. Good luck, let us know what you end up going with!

  • 3
1mo 
FinanceBrah, what's your opinion? Comment below:

Current Cayman models are likely the last of the breed (in this form at least) and I expect prices on the enthusiast models to only increase from here on. Even GT4 and RS trim levels may prove difficult to find, this is especially true if you are foregoing the new car experience and might need to compromise on how the car was ordered. I do think preowned is the right idea though.

1mo 
i.can.make.it, what's your opinion? Comment below:

Hope I am not hijacking the thread but I see those sorts of ridiculous pricing on some cars that get me thinking, who is spending that much money on a new Camry, Lincoln, ford, Corolla, Nissan, Hyundai  or some other car that would be seen as a dud in less that 3 years, why would anyone do that? Who is that market for? Even if you are bad with money that is just stupid when you can at least get a mercedes or bmw for similar prices

1mo 
Arroz con Pollo, what's your opinion? Comment below:

My Camry XSE is a great car outside of the A/C and has several options that you aren't getting on a base BMW. Keyless entry (touch the handle and it unlocks), remote start (until they started charging a monthly fee), wireless charging dock ($500 option in BMW).

Also, don't underestimate how stupid people can be. They'll see 120 months of financing and say "oh I can afford the monthly payment".

1mo 
jarstar1, what's your opinion? Comment below:

Most people don't care if it's seen as a dud, they just want a reliable car that will get them from A to B and Toyota's are some of the most reliable cars out there. Plus the average hold time for a car is something like nine years right now, a vast majority of America doesn't care what's in style in three years. 

1mo 
MonkeyNoise, what's your opinion? Comment below:
i.can.make.it

Hope I am not hijacking the thread but I see those sorts of ridiculous pricing on some cars that get me thinking, who is spending that much money on a new Camry, Lincoln, ford, Corolla, Nissan, Hyundai  or some other car that would be seen as a dud in less that 3 years, why would anyone do that? Who is that market for? Even if you are bad with money that is just stupid when you can at least get a mercedes or bmw for similar prices

lol those cars you listed retain their value FAR better than luxury vehicles do, as well as have much cheaper upkeep. Cant speak for Ford, but a Honda, Camry, or Corolla will last well over 200k miles without issue and can go decades. BMW or Mercedes equivalently will have a lot more issues and contrary to what commercials tell you, are not as well made from a pure utilty perspective.

Camry, Corolla, etc. are many things. "dud in 3 years" is not that. You might be the first person I have ever met who actually views a Mercedes or BMW as a better financial decision than a Toyota. That is literally the exact opposite

1mo 
FinanceBrah, what's your opinion? Comment below:

OP I'm not sure you can afford the car either way. Even if you skip the Porsche and get a BMW you would need prices to increase like they have for cars with low miles in order to truly pull off your projections. A Turbo S is not what I would consider a daily driver if what you are accustomed to isn't a stripped down performance car.

Consider the PCCB brakes on the Turbo S, in the time frame you are thinking you'll be right at the cusp of a $30,000 service bill if you're intending on 10,000mi per year. (This is just an example of a running cost and is not intended to be comprehensive of other items for your planned ownership term.) Consider also your Turbo S will likely be on the higher end of mileage when you are prepared to sell/return it because for most people this is not a primary car. The numbers are difficult to justify in addition to the depreciation and market discount relative to the other examples on the market by the time you get a graduate degree.

Since you used the French tag for this post and everyone else is offering random recommendations too, if you insist on an impractical car the Alpine A110 gets my vote.

1mo 
Arroz con Pollo, what's your opinion? Comment below:

Turbo isn't an option I'm looking at for this purchase. Your points are all relevant concerning the car, but I'm not looking at getting one now.

M8 maintenance costs are much lower than the Turbo, but I'm probably going with a 5 series as the daily commuter for now. Going to test drive them and see how long it'll be for delivery

1mo 
Pitchdeck Pirate, what's your opinion? Comment below:

I think that this is probably the right move based on your emphasis placed on a daily car. I know that the new idiotic "EV Sports car" movement is putting a scare in a lot of sports car enthusiasts heads. Here's an example, I hate muscle cars but the new dodge challenger has a fake V8 and is an EV, for those who haven't seen look it up, they've thrown fake speakers on the car to simulate a V8, I legitimately don't understand who would buy that vehicle. Regardless, I think Porsche has already made it pretty clear that they will continue their business strategy, which is to continue to reform and improve what works. What works for them, is making new 911s and Caymans, new GT models, RS models, and improving them YOY. I think you should have your chance. I personally would definitely not want to daily one of these cars.

Overall, I think you're making the right decision for now.

1mo 
FinanceBrah, what's your opinion? Comment below:

I missed your replies about the 5 series. That is a fair pick. I would also consider the outgoing BMW M2 or current Audi RS3 if you can get a deal. Incidentally these are two models which are likely to be in higher demand on the secondary market in the near future so now might be an ideal time to buy. Both are going to be more sporty than a 5 series while also being fairly practical too.

1mo 
Closer, what's your opinion? Comment below:

I'd recommend getting a 2001-2005 911 Turbo with a Tiptronic transmission. I have one that I bought in 2020 for $49k with 20k miles and it's great. I put in $2-3k per year in maintenance and it rises in value. They bottomed out in value about ~5 years back and are now on a 997 / 993 turbo trajectory (albeit a little less steep of a rise in value).

Even at today's prices, you can probably get like a 2003 911 Turbo with 40k miles for $55k. This is one of the most reliable generations of engines - the famous Mezger engine that won at LeMans numerous times in the late 90s / early 2000s.

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

sweet

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
NoEquityResearch, what's your opinion? Comment below:

It'll be a very fun few months until the feeling of emptiness creeps back in....sorry to be a downer but that's generally what happens with purchases like this.

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

nice

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
NoEquityResearch, what's your opinion? Comment below:

I don't think it's a bad attitude but just a fact of life. This sort of stuff wears off after time - for some people quicker than others. I bought a luxury car a while back and I don't think about it at all on my ride into work each day. At this point, I could be driving a Camry and I wouldn't care. For my next car, I'm actually thinking of downsizing.

1mo 
financeabc, what's your opinion? Comment below:

I did not realize how old my cars are until I recently drove a new Ford Edge and then finally realized that shifting the car was all done via a little circle that turns.  Even this car costs close to 40K but it is kind of nice. 

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:
financeabc

I did not realize how old my cars are until I recently drove a new Ford Edge and then finally realized that shifting the car was all done via a little circle that turns.  Even this car costs close to 40K but it is kind of nice. 

Yeah all new cars now are packed with many features and amazing technology. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
HealthcareRE, what's your opinion? Comment below:

I know this does absolutely fuck all to answer your original question, but you could get a very nice secondhand 911 on the budget you've mentioned ($140k - $150k). Is that a possibility? 

As somebody who was on the fence in a similar way and ended up getting a 911...trust me, you won't regret it....

1mo 
HealthcareRE, what's your opinion? Comment below:

Got it. I respect the sentiment a lot...if you drop that amount of coin on a car, you want it to be nice.

They're all tradeoffs so whatever you ultimately decide just make sure you're settling in the area that means the least to you practically, financially, emotionally, and you can't go wrong. Cheers.

1mo 
IB Dropout, what's your opinion? Comment below:

I am going to take this in a completely different direction than everyone else and recommend the Genesis G70 or G80 if you're looking to find a balance between luxury, comfort, relative affordability, and performance. Obviously, neither car is near the performance of the cars you mentioned, but they have gotten very strong reviews and compare favorably with the Audi S5 and BMW 340i (2 other great options). The big drawback is the lack of name value vs Audi, BMW, Mercedes, and Porsche. You've gotten a lot of great recommendations already, so wanted to throw out something different and more on the affordable side.

1mo 
Arroz con Pollo, what's your opinion? Comment below:

Was just talking about how genesis makes beautiful cars, but from some mechanics and car people I know, the build quality of the car itself is lacking. The interior is beautiful on all the models, but anecdotally I've heard the engine, chassis, that type of stuff isn't up to par.

They killed it on the rebranding and redesign. Some of the most beautiful cars out there. The gadgets inside are insane. Believe it's the GX80 the suv. Backseat is insane

1mo 
IB Dropout, what's your opinion? Comment below:

That makes sense given how young the brand is (and Hyundai's lack of experience historically in that class of cars), I guess that's why they offer such a competitive warranty. Savagegeese is a pretty good YouTuber who focuses on the mechanical aspect of cars a lot more than others, highly recommend checking him out if you haven't already. Maybe along the same lines in terms of affordability would be the Cadillac CT4-V or CT5-V?

1mo 
VanHalenAM, what's your opinion? Comment below:

Be careful with BMWs, I think they are really cool cars but they can be money pits with having to replace parts and dealing with cheap plastic, maintenance.

You may have to deal with more than just a moldy AC.

Go ahead and JUMP!

  • 1
1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

Why The BMW M550i Is Better Than the M5

https://www.topspeed.com/cars/features/why-the-bmw-m550i-is-better-than-the-m5/
 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

1mo 
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

A new M550i seems to be $90K - $100K,

https://www.autotrader.com/cars-for-sale/all-cars/bmw/m550i-xdrive/beverly-hills-ca-90210?searchRadius=0&marketExtension=include&isNewSearch=true&showAccelerateBanner=false&sortBy=yearDESC&numRecords=25&requestId=2225141853

but also see that if you get an older model like 2018, it is as low as $37K.

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=641519403&allListingType=all-cars&makeCodeList=BMW&modelCodeList=BMWM550IXD&city=Beverly%20Hills&state=CA&zip=90210&searchRadius=0&marketExtension=include&isNewSearch=false&showAccelerateBanner=false&sortBy=yearDESC&numRecords=25&requestId=2225141853&referrer=%2Fcars-for-sale%2Fall-cars%2Fbmw%2Fm550i-xdrive%2Fbeverly-hills-ca-90210%3FsearchRadius%3D0%26marketExtension%3Dinclude%26isNewSearch%3Dfalse%26showAccelerateBanner%3Dfalse%26sortBy%3DyearDESC%26numRecords%3D25%26requestId%3D2225141853&clickType=spotlight

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

  • 4
1mo 
theAudiophile, what's your opinion? Comment below:
Arroz con Pollo

I ...now I'm spec'ing a 550i lol

Young man, I thought we agreed to compromise on an M540i?

1mo 
G_S_C, what's your opinion? Comment below:

Willing to bet you'd be 80% as happy with a certified pre-owned Audi S4.  All the prestige, enough power for 95% of the fun on the roads, and you save a bunch.

1mo 
InvestmentSpanker, what's your opinion? Comment below:

People like this can't be swayed. When it comes to cars, the word "afford" means "will not bankrupt me" lol.

Be grateful people like this exist. They keep themselves poor and enrich shareholders (those of us that save and spend reasonably). Love me a finance bro with gambling problem, Audi and a Rolex.

1mo 
MonkeyNoise, what's your opinion? Comment below:

He said he saved quite a bit, so I wouldnt call it asinine just yet. Though given he wants to do B-School and based on salary Im guessing he is in his 20s and 'quite a bit' is still 6 digit number which would make this beyond stupid. Porsche's and other high end luxury items exist solely for very wealthy (business owners, older physicians, lawyers, trust fund kids, etc.) to have something to spend it on, and for non-wealthy but upper middle class people (OP) to feel they are in that class. 

Replacing a Camry with that car is same logic as buying a Tesla to 'save money on gas'. Or buying a Ford Raptor to save money on a U-Haul. You are trying to reverse logic a decision you are making with your emotions. Get your A/C fixed on the Camry and if not that then trade it in for 20k and then buy an even older Camry in great condition.

  • 1
1mo 
randomnumbers234238324353, what's your opinion? Comment below:

Have you considered American muscle? The 2024 Mustang Dark Horse seems interesting. It's clearly not a luxury car, but 500 horsepower and all that performance for maybe $60-65K is tempting. 

1mo 
Esuric, what's your opinion? Comment below:

Try the CT4 V Blackwing. Can get a good deal at the moment. Pick up super low mileage example for $65K, fully loaded. 

“Elections are a futures market for stolen property”
  • 1
1mo 
niubao88, what's your opinion? Comment below:

I definitely wouldn't go for a brand new Turbo S or RS7 or M8---the depreciation on those things is ridiculous. If you go for a used gt3 you just might be able to sell it close to where you bought it for (ignoring opportunity cost

I'd recommend looking into a used F-Type. They seem to be changing hands at ridiculously low prices and it seems to be highly collectible given v8 powertrain, iconic styling and relatively low quantity (ie. compared to 911s)

1mo 
Frieds, what's your opinion? Comment below:

Stupid questions - but where are you located, regionally, and where do you intend to apply to BSchool? Nothing wrong with any of the choices that have been listed, but keep in mind, weather and maintenance should be a huge part of the equation. Regarding the weather, if you're applying to schools where it snows or the weather can be nasty (ex. Harvard, Wharton - because winters in Boston can be real shitty and Philly can get bad weather in the winter) or your in a region where the weather is a concern, I would keep that in mind when looking for a new car. Nothing says fun like driving a RWD car through shitty weather. Likewise, consider the maintenance costs as well. Case and point here, I can do an oil change on my Subaru without batting an eye. My dad, who has a Benz, can't do an oil change because of the way Mercedes designed the car, and has to spend more than necessary to get it done. He had a crack in his windshield and had to go to Mercedes to replace it because Safelite could not get the glass for his C-class. I'd just keep that in mind, particularly if you're getting a car with all the bells and whistles. 

  • 5
1mo 
Frieds, what's your opinion? Comment below:

I get it, but it's still 2-3 years out. Shit can change between now and then. There are also some advantages to having a car depending on where you go as well. 

1mo 
vendor_riffles0d, what's your opinion? Comment below:

I would go for a 991.1 Carrera GTS Cabriolet for that money. It's an older car so marginal depreciation should be really slow in it's lifecycle.

1mo 
Deal Team Six, what's your opinion? Comment below:

Seeing a lot of supportive commentary on here, and normally that would be the route Id go down as well, but I dont think the juice is worth the squeeze.

For context, as you may or may not have seen in my other posts, I went out and spent roughly 40k (25% of an M8 or 10-15% of a 911 Turbo S) in order to get the car I was obsessed with (an older M3). I, like you, am very frugal. I was able to justify this because 1. I knew everything about the car, and 2. I was confident I could resell it without a major loss due to a myriad of reasons (I can get into this if youre interested). 

In other words, my car costs a fraction of yours. Monthly payments, insurance, gas, garage, all in is still under 1k per month for me. This is with a perfect driving record, no accidents, premium insurance, top tier gas and the expectation that the car will be paid off in full in 2 years (steep loan payments, relatively). I would guestimate that we make comparable income, meaning we are within 100k of one another. 

So, lets run the numbers on a Turbo S. Lets assume you can get it for 250k, which will be challenging for a number of reasons. 4.5% interest (doubt you can even get this on a car like that unless you put down ~100k), 5 year loan with 15k down (arbitrary figure) gets you a monthly payment of $4,700, pre-insurance (3-4x mine btw, so assume $600 per month) and gas. Assume another $250 per month for a garage spot. You are chilling at ~$5,500 per month. 

So my question to you is, what am I missing here? As a frugal dude, losing 2k on gas / insurance per year on my car kills me. It just seems so superfluous. But to drop nearly 10k on insurance / gas per year, is that not insane??? Idk man, I just cant make the numbers work, and even if I could, the juice would never be worth the squeeze. Further, to sell these cars at an optimal return requires serious patience, which would be a potential challenge if you looked to leverage the sale for your MBA admission costs. Plus, if you are even driving your car 2-5k miles per year, it will depreciate, materially. 

IMHO, you need to be making multiples of your current salary to consider a current gen 911 Turbo S. Even with the M8, the costs are just so absurdly high for someone generating less than 250k TC. 

My advice? Lame as it may be, go out and buy a '12 Honda Accord and beat that thing to shit. Drive it until you hit 200k and realize now the cost of owning that car for the next 10 years wont exceed your insurance payments of owning a 911 Turbo S for 2 years. 

TLDR: A current gen Turbo S is way to expensive for anyone making sub 500k TC, especially for someone who prefers to live frugally

1mo 
theAudiophile, what's your opinion? Comment below:
Deal Team Six  [...]

 You may have misssed it above, but it looks like OP is playing more conservatively and looking at a 540i now. Still a hefty $70k price-tag, but overall much more reasonable in TCO, to your points. Very stout machine. I even mentioned CPO that still has warranty, but he wants brand new off the transporter unless the car on the lot has something like 90%+ of his config features. 

  • 2
1mo 
Deal Team Six, what's your opinion? Comment below:

Yeah I guess I just fail to see whats driving OP's decision making. He begins with a desire to obtain a Turbo S, a serious enthusiast's car, but not quite in the same vein as a GT3RS owner, someone who values speed and power over track performance. Next, he moves on to the M8 / RS7, two cars that are a strong blend of performance and luxury. They are really sporty cars for high earner business men. Then, he moves toward the 540i, which comes at a fairly high price tag but is really just a middle class luxury sedan that will lose 30% of its value in 2-3 years. I dont follow the deviation from Turbo S to 540i, I must be missing something. 

1mo 
Mr Incredible, what's your opinion? Comment below:

Very sad knowing that by the time I would be able to afford such a car, most things will be all electric. I think Porsche is abandoning ICE for everything other than the 911, and I'm pretty sure they have to get an exemption from the EU for that.

Not that I don't like electric cars, I do, but I also like ICE. 

1mo 
Nontargetswag, what's your opinion? Comment below:

Just wait for the Porsche, the pleasure will be even greater. My dad (50yo) did a similar moove lately: He is a porsche fan and like many of us dreamed of having a 911 one day. even if we are and always have been financially stable he couldn't afford it and went for a mercedes C43 amg instead. 2 year later he sold it because the excitement was gone and well, it wasn't what he wanted in the first place so...

My advice would be to wait for the car that will make you happy and don't settle for less until it's clear you can (or can't) afford it. if you can't then it's okay to find an alternative but before that it can lead to regret I guess.

Hopefully I open a bar when I'm 40.
  • 3
1mo 
lecpmoc, what's your opinion? Comment below:

JUST a personal anecdote, but: I've had my fair share of bad financial decisions, especially when it comes to cars.

When I was younger, I wanted to buy a Rolls Royce for my parents, but they weren't too impressed since they already owned a Mercedes Benz. So I decided to give the keys to my then-girlfriend instead, thinking she would be more appreciative. Unfortunately, that didn't turn out to be the case.

For starters, she didn't seem to be too keen on doing the things that came with owning a car, like paying for maintenance and repairs. She'd often make excuses about why she couldn't pay for it, from not having enough money to not knowing how to take care of a car. In the end, the car ended up being a financial burden that neither of us could handle.

What's more, I noticed a pattern in her behavior when it came to money. She was always asking me to buy her things, from going out to nice restaurants to buying expensive clothes. I found myself having to pay for the majority of our dates, and if I didn't she'd find another way to get what she wanted, whether it was using my credit card or taking out a loan. It didn't take long for me to see that she wasn't really interested in me, but rather the things I could provide for her. Our relationship eventually ended shortly after I gave her the car, and I was left feeling completely taken advantage of.

My parents always told me to be stingy with my money, and for the most part I think that's good advice. But I think there are exceptions to that rule, such as when it comes to buying something for a girl you've been dating for at least a year. In my case, I wish I would have waited a bit longer before giving such a big gift. It would have saved me a lot of heartache in the end.

  • 3
1mo 
SafariJoe, what's your opinion? Comment below:

lecpmoc

JUST a personal anecdote, but: I've had my fair share of bad financial decisions, especially when it comes to cars.

When I was younger, I wanted to buy a Rolls Royce for my parents, but they weren't too impressed since they already owned a Mercedes Benz. So I decided to give the keys to my then-girlfriend instead, thinking she would be more appreciative. Unfortunately, that didn't turn out to be the case.

For starters, she didn't seem to be too keen on doing the things that came with owning a car, like paying for maintenance and repairs. She'd often make excuses about why she couldn't pay for it, from not having enough money to not knowing how to take care of a car. In the end, the car ended up being a financial burden that neither of us could handle.

What's more, I noticed a pattern in her behavior when it came to money. She was always asking me to buy her things, from going out to nice restaurants to buying expensive clothes. I found myself having to pay for the majority of our dates, and if I didn't she'd find another way to get what she wanted, whether it was using my credit card or taking out a loan. It didn't take long for me to see that she wasn't really interested in me, but rather the things I could provide for her. Our relationship eventually ended shortly after I gave her the car, and I was left feeling completely taken advantage of.

My parents always told me to be stingy with my money, and for the most part I think that's good advice. But I think there are exceptions to that rule, such as when it comes to buying something for a girl you've been dating for at least a year. In my case, I wish I would have waited a bit longer before giving such a big gift. It would have saved me a lot of heartache in the end.

That's the thing about women like that, glad she is no longer milking you.

SafariJoe, wins again!
1mo 
brambel, what's your opinion? Comment below:

Why does it need to be a 911 Turbo S, and not a normal 4S for example.

1mo 
SafariJoe, what's your opinion? Comment below:

brambel

Why does it need to be a 911 Turbo S, and not a normal 4S for example.

I would agree if you were talking about the 992's or to some degree 991's.

SafariJoe, wins again!
1mo 
SafariJoe, what's your opinion? Comment below:

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Rerum corporis nesciunt temporibus vero. Est voluptate aspernatur quae quis. Numquam fugit ad sed rerum dolores. Quisquam ab temporibus neque.

Placeat excepturi perferendis et odit dolores minima. Nulla quo tenetur voluptates fuga inventore aperiam natus. Consectetur dolore velit dolores error in quaerat. Voluptas veritatis quis reiciendis unde sit qui impedit. Et ipsam dicta magni. Et et eius non exercitationem debitis. Officia aut minima recusandae enim dolor illo consectetur repellendus.

SafariJoe, wins again!
1mo 
SafariJoe, what's your opinion? Comment below:

Commodi illo aut illum praesentium non accusamus alias. Ea necessitatibus vitae aperiam nobis autem nihil. Repellendus voluptatibus asperiores quo explicabo architecto.

Dolores nihil nihil delectus vitae dicta. Eveniet ut odio minima harum. Praesentium eveniet modi ut ea et. Enim debitis laborum consequuntur. Debitis perferendis ut ea dolorum earum. Nostrum distinctio dolorem quia. Inventore ullam qui sint non ut autem. Voluptates illo quia non assumenda aut qui.

Iste voluptates nam ducimus minus. Praesentium ipsa est et perspiciatis. Distinctio reprehenderit laborum quia et.

Hic iusto quibusdam perferendis ut nobis. Aut sint rerum pariatur tenetur iure corrupti. Velit molestiae vitae nemo. Qui ea adipisci quaerat aut et in. Sit est velit officia. Itaque maiores magni quod consequatur. Recusandae aut tempore sit quisquam amet reiciendis est.

SafariJoe, wins again!
1mo 
Xhamster02, what's your opinion? Comment below:

Quae dicta ipsam quos vero. Commodi omnis ut voluptatum est excepturi quia voluptatum enim. Recusandae sequi et quibusdam est accusamus delectus fugit. Consequuntur et autem et quia deleniti. Dolorum rerum dolore et. Cum vitae velit voluptates.

Deserunt sed odit autem vel expedita voluptates. Eos aspernatur harum omnis eius. Eaque architecto aspernatur aut ea enim. Mollitia rerum cum sit et quibusdam minus.

Deserunt occaecati placeat dolor et voluptatum. Sint quo non voluptates doloribus. Veniam voluptates corrupti ullam quasi maiores. Aliquam dicta voluptates recusandae eum unde rerum ex. Eos voluptas tenetur quaerat et mollitia dignissimos dolor. Quas sed aliquam animi inventore est mollitia. Et quis alias qui quos.

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