I'm 42yo and finally in a position of having this dream car. I've found no info on actual cost to own from a person rather than a website, so I am very grateful for your honest, open input. Thank you!
This video is so informative & very personable, more cost breakdown videos like this would be awesome since people tend to be very shady about the ACTUAL cost of things (Eg. Home ownership, car, groceries/health spending)
Thanks John! Happy that you enjoyed watching and I hope you can maintain that motivation up until and far beyond you achieve your goals. Hit me up when you do get the m3 tho!
Great video. I too used think when I was younger that these monthly payments on these type of cars were so high. Never thought I’d get to a point where I would feel comfortable with $1k monthly payments. In the past I typically purchased used. I’ve owned a couple e36 M3’s, had an e46 M3 as well and kept the sales prices at $20k or lower. That was years ago though. With all that being said I ordered a G80 M3 a couple months ago and it is currently in production. Second guessing if I’ll take delivery on it when it’s all said and down. I absolutely love the car but not the price.
I think people need to start from something small, adjust finance accordingly, with priority of course. Right out of college my work car was a 1999 Nissan Sentra, next was a 2005 330Ci, then a Lexus IS 300 2016, then a BMW M340xi 19/2020 and now waiting for my BMW base model M3 (at port). Let's face it, Any financial Advisor/and (or) wife will tell you, its a bad idea pissing $70 to $100k + for a trill; But you cannot put a price on happiness or a dream. Perhaps its the reason we stive to succeed to achieve that dream which in of itself is unquantifiable. I would suggest, enjoy your dream, It came through.
Thanks for the advice bro. You really can’t put a price on happiness. Congrats on your M3! I know waiting for it to leave the VPC is and can be a pain. Hopefully it’s at your dealership soon.
Could be age and then already having my share of reckless spending at a younger age (and I’m only in my early 30’s) but all I heard throughout this whole video was “financial mistake” and “liability”. BMW, amongst other car manufacturers have surely figured out ways through generation and generation on how to finesse. But in this day and age of social media, these companies have mastered it lol being a person that understands business and how money works, I look at “cases” like these and can’t feel any type of way about it because we all gotta eat and make money. Tricking people into believing they need things and then they buy into it, isn’t a crime 🤷🏽♂️ it just makes more sense to invest in things that aren’t actually worth it, when we’re financially free. When the cost of things are actually irrelevant. Could just be my type of thinking though. Cool video regardless 💪🏾
Thanks for the comment bro! I’m glad you have your priorities straight. It’s v rare to find folks that can stay focused on their master plan. For me, it felt like the right time to buy as I crossed into my 30s. If it turns out to be the wrong decision, then I’m ready to sell it at anytime 😅
For me personally it’s been worth having. There’s a part of me that wishes that I never got into it so that I could route that money into an investment. I could imagine changing my mind when I start having to actually pay for real maintenance and repairs. So far, no mechanical problems at 30k miles
Nice vid! My M3 Comp xDrive is on the boat so I should have it in 30 days. Planning to finance as well. Did you go through BMW FS? Was their rate competitive?
Yo! That boat ride can be such a long wait. I hope you can get through the VPC super fast! I went through bmw FS and I believe my rate was 2.99. It immediate jumped up after I signed for it back in dec of 2021 tho.
Beautiful car to have. My son is a manager with BMW. I drive a 2023 JCW Clubman. 301 hp, 0 to 60 in about 4.7 sec. Incredible car. Of course but through his dealership. But BMW is the cream of the crop. I'm in my '60s and I still ask myself can I afford that. We all do. Or at least we should. My house payment is over double yours. My house is 1.3 mil too. I can tell you even as a Manager in his position, which is high in his dealership he's still buys warranty packages. He just paid cash for brand new Toyota Tacoma. Needed a work truck around his house.. It has a warranty. Just saying they shouldn't have made you feel bad, but know that even those in the business buy them. Enjoy your car you deserve it.
Thanks for the words of wisdom Michael. Still hoping the lack of warrantee doesn’t come back to bite me in the butt! Congrats to you and congrats to your son for absolutely killing life.
Maybe it’s just me, but $1,000 even 1500+ per month on a new m3 really is not bad. I think most people that have older M3’s probably spend about the same on maintenance during a month. I currently have 4 bmw M3’s (1 e46 and 3 e9x M3’s (2 e92’s and 1 e90)). But I plan to sell 3 of them and get into a g80. I 100% agree with comments of people living above their means but I think it all is on how you look at things too. I know I spend usually $6,000 per month maintaining all 4 of my M3’s. On paper several m cars sounds fun but it gets expensive fast. Once you sort one out another needs something else…it ends up resulting in you chasing your tail to fix your cars and never having time to enjoy them due to you always fixing them. 4-6k per month is also just parts value not including labor since I work on them myself, I wouldn’t even want to know what it would cost me if I wasn’t handy ha. Having a fixed expense of 1500 per month is not bad at all considering what I am spending now. Planning to order mine end of this month :) delivery should happen late august.
Love this comment. At the end of the day, it’s your life to live and your budget is just a guide to help if needed. I hope you get into your g80 soon!!!
What do you do for work to afford such an amazing car at such a young age? I graduated school a year ago and have been working in finance full time. I just bought an 2023 audi s3!
i ordered an m3 comp with a few packages and it came out to $90k. i would never put down so much money because if it gets totaled u wont get it back. i am doing multiple security deposits to lower monthly costs bc it's a lease. im used to high payments since my current is an m550i.
Thank you for this video. Also noticed you’re near me driving from rolling rd into rt40 HC. I’m definitely considering purchasing one still debating though.
@@izzyr__ Oh for sure! I've driven and worked on them just have to figure if i want to add one to the stable or replace a current vehicle. By chance what's your IG?
Izzy, I know you can comfortably afford the car but I honestly cringe at people making under $100k (im in NJ and $100k here is pretty damn good) buying brand new M cars. I'm in utilities making around $200k and I could not bring myself to buy a $100k depreciating asset. And the only expense I have is a $1472 mortgage on a townhouse. My last purchase was a 2018 F32 440xi M sport. I picked it up right at the start of the 2020 covid panic. Car only had 8k miles and I took it home for a grand total of $36.8k. I don't know about other states but way too many people in NJ live credit rich, way above their means.
I’m with you there! If you asked me a couple of years ago if I’d get an expensive car, I would have laughed and said hell no! It’s cool to find out what people value, by what they choose to invest in. I’m glad to hear that you are doing well and have been so smart with your money. And 200k income, you’re absolutely killing it!
Same. I'd love a brand new M3 but can't justify it especially with the cost of living in LA. Also have nowhere to open it up ever. 340/440 is more than enough.
Same. About half a mill and it's hard to get another car, especially a $100k depreciating asset that I would be modifying and taking value away. Couldn't imagine spending one years salary on a car, it's just scary
Another way to think about it is how much of your net worth will the car be. Even at 100k / year, if you had 1M in the bank, you might not be as worried to buy one.
This one is a hard call. I went with the g80 over f80 because I was going to take out a loan and the monthly payments wouldn’t have been that bad to handle for my budget. This only works if you can get a g80 for a “good price” which usually means that you need to order a new one. That could take 6 months or more. If you’re willing to wait, you could save some money.
@@izzyr__ I was definitely debating on getting the G80 but the 10k mark up along with the sales tax etc at my dealership drove it up to 94k and that’s without the interest included. And the grill just wasn’t cutting for me lol. So ended up getting an F80 a few months ago. First sports car I ever had. Weekend car, the excitement never gets old!
@@izzyr__ This is partially why I went with a new over keeping and financing my leased F80 CS. Even though my residual was low, financing it was actually slightly more than financing a new G80. So for the same down, I got a new car with a new warranty and since I had to wait 5 months for the car, that gave me time to save more for the down payment. I also sold the F80 for a pretty good profit. So that helped :)
I live in Vancouver bc. Just for being a new driver, my insurance is 400 a month for a kia forte. A couple years ago, it was even more. And my average cost of gas for for a small 1.6t inline 4 is about 400 cad. Stop complaining. Around November to December premium peaked around $2.55/L or $7.02usd/gal. Stop saying it's expensive. As of right now premium is around $2/l or $5.51usd/gal. It is projected that regular gas will hit $2.50/L this summer. That would make premium about $2.70/L or $7.30usd/gal. Plus the going intrerest for a car in canada right now with decent credit is over 10%.
Route 40 Ellicott City, MD. Love the car, been looking into getting one. I really want it, but I don't drive that much. I have a company truck, so I would only drive it on the weekends sometimes. Hard to pay over $1k a month while it sits in my driveway.
Great video and yes this car is going to cost you a crap ton of money to own. My m3 g80 comp xdrive cost me about 2175 for the 60 month loan term got but that is with all my expenses to operate gas,insurance,monthly payment,monthly savings for unexpected cost of 275 for anything. Also being in California the registration costs for my tags are $967.
@@izzyr__ i was thinking about financing the m3, but after the 3 year warranty i want nonthing to do with my future m3. heck, ive had to extend my m550i lease due to waiting for the m3, and ive spent over $2k in maintenance after warranty ran out. no bueno
Coulda swore I responded to this. I’ve been wondering if I would want to keep mine once the warrantee runs out. I’m a bit of a hoarder so I think most likely I will!
@@izzyr__Don't do it man. I never keep these cars past warranty. This is coming from someone who buys these things cash. Right before three years I sell and buy new. I know not everyone can do that but watching the average person debt slaving for these M series BMWs is sad to see when the warranty runs out. Level up your finances and you wont have to keep these beautiful cars past warranty. No way and no how are you able to have a decent amount of money to invest with and establish your finances on a higher level by screwing yourself over on maintaining these expensive cars outside of warranty, period. Just keeping things real with you. M3s are beautiful and you have a beautiful car. Continue to level up.
Thanks for the reply! I think you’ve given me some things to think about. I’m inspired to make it to the point where I can just do something different after the warrantee period ends.
@@izzyr__ well out the door with a few specs ( carbon fiber trim and carbon seats) it’s 125,000$ . I’d put 15k down . So 110,000 x 15% taxes is 126,000. So your deal is actually pretty sweet
Then I guess that number makes much more sense for you. My car was $81k and I put down 24%. My interest is prolly lower than what the current is now too.
I’m so fortunate to afford a G80. I’m going to be putting a pretty decent downpayment on one. Still living with my parents, no other bills but insurance, good paying job paying me $28-31 per hour(weekly pay), good CREDIT etc.
@@izzyr__ I appreciate you bro, I appreciate this video for breaking everything down. I also am considering an RS3 but I peeped that the G80s have forged rods, pistons, and crankshaft from factory and that’s just insane to me to think that they really did such a thing in this type of car
I ordered a M4 Comp with extra’s my build cost $105k putting down $55k financed $50k payments hopefully be under $700, I own my own home don’t rent, This is my second BMW my first BMW was a 2022 430i had this car for 10 months then I test drove the M4 Comp and that did it for me, Sold 430i and now just waiting for my M4 to be in production
I literally got a 2022 430i a year ago and fell in love with BMW and the M's 3 months ago i placed a deposit on the M3 but they said it would take about 9-10 months still on the waitlist.
I’ve had some people reach out to tell me it could take a full year! I’d say shop around to different dealerships in the entire country. Someone is bound to have a shorter line for an allocation. Good luck with your wait and feel free to shoot me a message on IG to let me know about your car!
Thanks! This video reaffirmed why this car is too much for me. I think this is ideally for people making at least $200k a year, and probably more like $250k+.
What’s wild is most folks don’t put down how much I did. It is a very fun car, but also super expensive. That said I hope you can get whatever car you dream of without compromising your quality of life!
And I guarantee you will drive it like you are in this video 99% of the time . Complete waste of money and if you want real speed get a sports motorbike