Car as a PE Associate
Incoming PE aso to UMM / MF outside nyc. What kind of cars are the “right” price range for PE associates? I dont want to drive something nicer than my principals / MDs but still want something decent and with good utility.
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Bro just buy whatever you want/makes sense for you financially. Don’t think anyone really cares unless you’re pulling up in a bright-pink lambo.
The 2022 PT cruiser is looking nice
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Audi A4, give or take
Used to have an A3, my first big boy purchase. Man, loved that car to death. Was ruined by a chick on her phone deciding to pull out in front of me, L
L
Cayenne turbo s
You could reasonably spend anywhere from 5-35% of gross income on the purchase price. Totally up to you
Bump
No one gives a shit. Your partners won’t care if you drive something nicer than them, except maybe to think you have poor financial skills since they know exactly what you make (presumably an order of magnitude, or two, less than them).
Base model BMW 3 series, Audi A4, Mercedes C class, anything in that range is pretty common. Also not uncommon to see something as basic as a Honda Civic or Nissan Altima
Love it. I drive a 2010 Nissan altima that was fully paid off 4 years ago. Bought it used. No one cares
Just follow this and you'll be fine, high end honda to low end BMW seems to be in the right range:
https://www.financialsamurai.com/the-110th-rule-for-car-buying-everyone…
People won’t like you just because you have a nice car FYI
This post clearly isn’t about having a nice car so people will like me but thank you for your input
False, absolutely false
my former director in banking (outside of NYC) just bought his first car and drives his Honda Accord to work. i also knew people in my class who bought BMWs and people who drove their parents old Range Rover. no one will care if they even see what you drive. maybe you really like cars. maybe your family has money. maybe your financial skills suck. they don’t know or care.
Buy a model 3
I have a '20 335i. Agree w/ most commenters on the sentiment that it doesn't matter if you drive a nicer car than your directors. If you're an asswipe about it, maybe. One of my GHs drives a 911 Targa 4S, and the other drives a Camry. Both make the same, both can afford the 4S and probably more. Just personal preference.
As for me personally, looking to upgrade soon. I want an M3 more than anything, but we'll see. F80 w/ a 6MT at a dealer near me, I think it's just begging for me to bite the bullet. Car market is insane, if I traded in my 335i I could get $6K over what I bought it for new in 2019. Shit is wild
Bought an ‘18 440 this summer and love it. Already want a real M tho lol
Clean! My goal one day would be to get an absolute beast of an M-series car as a weekend warrior. Although, by the time I could afford that I'll probably just opt for a 911. I can't shake the feeling that an F87 M2 with the 6MT and an absolute blast fuck of a tune would put a smile on my face bigger than the Grand Canyon.
4-series are sick, sweet ride. I only got the 3 since I wanted four doors, which I use to carry golf clubs & my guitar and not people. Big wins all around
I would say just wait until you can get a 911. Sounds like you are child free and therefore dont need 4-5 seats, so now is the time for a top performing sports car.
Recently had my first track day so I figured Id share some of my findings in the comment below.
I used to be a big BMW guy but their recent models make me want to vomit, and they really only make one good performance car currently, which is the M2 CS (current BMW owner btw). Why would you opt for a F87 M2 over the G87 CS? However, for the G87 price point, it would be worth it to spend a little more and get a 911. So maybe a used F87 M2 is a good deal, but itll still cost you ~50k unless it is trashed. For 50k, go with the new supras. They are dumb fast and handle just about as well as the new C8s with the performance package. Honestly, they might even be better. I watched a heavily modded A91-CF keep pace with 3 GT3 RS's, and let me tell you, it was miles faster than the 911 Carerra 4S (it could have been the experience level of the drivers at this point, hard to say). I will say the A91 was always ahead of the 911 4S, which is pretty impressive given the variance in price points.
Not to beat a dead horse, but look into the new Supra line. Every single driver in my group got smoked by a 2021 3.0, including Caymans, C7s, C8s, S5s, etc. A lot of very good cars couldnt keep pace. The Supra handles so well in the corners and gains power so quickly on the straightaways. I would say Im a pretty good driver in that I could pass 2020 Caymans in a 2010 M3, but the idea of trying to keep up with the Supra was laughable. The C8 was driven by a very experienced driver and even he couldnt compete with the 3.0 Supra. To be fair, the 3.0 driver was not only talented but also 21, so he was less risk adverse.
I have an E92 M3 and the next car I get will either be a accord or a A91 / 992 911 or ideally a GT3 RS. It really just depends on what I can afford. Having seen both tracked I can tell you that there is no comparison. Once you see the GT3 RS do its thing, suddenly every other 911 looks like a casual car. The gap in performance is THAT big.
Edit: Meant to say they really only make one good 2dr car, as the M5CS speaks for itself.
I bought the grand coupe version a few years ago pretty sweet car, definitely also feel the desire for an M already too though. Those grills on the new M3 and M4 are too ugly though.
My “petrol head” partner recommended me and some other associates to get a Porsche 911, while we can and there is no wife having any influence on that decision.
VW Golf GTI. Agree with advice in this thread though, no one cares if you're not obnoxious about it.
Picked up a CPO base 911 that I use as a daily and to track once in a while. It's an incredible amount of fun and would highly recommend. No one at work knows - I think it would just result in some good natured jokes but figured best just to avoid.
How much did you get it for?
~$95k for a well-optioned 991.2. Bought at the peak of used car prices so definitely overpaid a bit
I think this is the appropriate response for enthusiasts. If you want to spend considerably less and still have a very fun car, the A91 Cf Supra is a great option. If money is no object, the GT3RS is the best case.
If you are really indifferent about cars, just go with a VW / Toyota / Honda. Dont be the guy who buys a 3/5 series because thats what everyone else does. You will also save yourself so much money.
Agree, it's really a personal preference thing. I have a cheaper studio vs. higher-end one beds for other associates, so come out even from a fixed cost perspective. I just get more joy from the car than having an extra wall in my apartment so will make that choice every day of the week.
Audi S4
If your asking if you can be seen driving something fast, just buy a car that offers decent utility at an affordable price and then splurge on a Ducati or another motorcycle that's actually fast. Fast cars are cool and fun until you ride a fast motorcycle and then you'll never care about fast cars again.
I first read this as "Carry as a PE Associate" and was like "Another thread? C'mon"
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Audi Q3 seems to be current European standard for As-VP.
I am based in Continental Europe - Porsche 911 seems to be the car that most Senior Assocs / VPs go for here.
Didnt see much action for SUVs on this thread but if you’re looking for utility + nice maybe something like a BMW X3/5. I used to be into cars until i realized it was just so much more convenient to have an SUV. It’s looks nice, drives great, and has enough storage to pack personal bags for you and some friends to take a weekend trip somewhere. Also performs well in snow if you’re into skiing/mountain weekends/granola person.
BMW X5
Porsche Macan
Assuming since you asked you're at least borderline into cars. Buy whatever you think will be fun / pragmatic to suit your needs. Assuming you're not buying a Ferrari or the likes, you're not going to look like you're showing up on your seniors. And quite frankly, if you're a car guy and you wanted to get one, no one will judge you for it.
And since you mentioned utility, there are really few cars as a % of the auto universe which you could get which would make anyone feel upset or insecure.
In an industry that prioritizes financial leverage and value over absolute cost, I think we can apply those same principles to our personal purchases too whether it’s a house, watch, car, etc.
The car market similar to any asset is constantly in flux so naming exact cars like E90 M3s, or specific 911’s, etc isn’t the most helpful. However these cars represent similar types of vehicles. Fun cars that have enthusiast followings are more mileage and use agnostic than other cars.
If you buy a 997 or 991.1 generation 911, even if it’s the base Carrera, you’ll be out the door likely 70k plus. However, own it for a year or two and you will likely lose little to depreciation. Become an expert in what you buy. What is their maintenance schedule, how much are routine wear items like tires, fluids, plugs, and what is the secondary resale market like. The same questions that you ask during a PE DD process but this time towards cars. This informs the most important point. Absolute cost vs realized cost. Your car payment might be double or even triple that of a lease or cheaper car, but if you’re able to retain equity in the car, factor that in. Do it properly and you will be able to find yourself in a very enjoyable car, that is cheaper to own than a brand new base spec Audi A4 which depreciates 50% in 3 years.
Nice to see car enthusiasts.
F80 M3 is a great driver - reliable platform, practical, and fast/sporty enough to be a weekend warrior/occasion track car. Bought my 6MT pre-COVID, so have not lost much value from depreciation. It is now our road trip car/grocery getter.
Base 911 is an awesome driver. Newer 911s are comfortable and easy to drive. Not sure what the consensus is on manual gearbox, but highly recommend Porsche's manual shifting experience. If you are a Porsche fan, there is no doubt GT3/RS should be the goal, because there is no substitute. Fortunate to have one as a weekend/date night/track car.
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