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///M3 Forum
The BMW E46 ///M3 is the M version E46 and puts out an amazing 333 HP and 262 lb-ft of torque at stock specs! There are an amazing amount of modifications for both the coupe and convertible models so read up and get started modifying your cars today!

View Poll Results: How did you get an E46 M3?
Paid cash 81 71.05%
Finanacing 33 28.95%
Leaseing 0 0%
Voters: 114. You may not vote on this poll

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Old 09-18-2013, 04:50 PM   #21
eightball1488
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Re: Abundance of E46 M3s (If you're under 30 enter here)

16.
Car and maintenance is all paid for by me.


Ha
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Old 09-18-2013, 04:54 PM   #22
mitchponton
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Re: Abundance of E46 M3s (If you're under 30 enter here)

I forgot, paid 20k for a LSB DINAN S2

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Old 09-18-2013, 05:39 PM   #23
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26, owned for 3 years so far, financed, $23,700 after tax and title at 3.49% apr.

Now.... I financed, because if I get a theoretical 0.5% monthly return on my $20k worth of indexed options, or roughly 6.2% a year, and removing my short and long-term capital gains taxes each year, I wind up with $25,371 and change at the end of my financing. I have spent $23,700 on the car including interest, for a net gain of $1671.00.

AND at the end of my financing, I have a car, $1670, and a $20K reserve should anything happen.

...And I'm not getting 0.5% monthly return Just throwing it out there, not all debt is bad debt. Opportunity cost can be a much greater burden.
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Old 09-19-2013, 04:18 PM   #24
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Got mine at 19. 20k cash now im 21 with the car fully maintained.
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Old 09-19-2013, 04:25 PM   #25
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Old 09-19-2013, 05:35 PM   #26
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28 here. Financed the car for 35K in September 2009 and have since paid it off.
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Old 09-19-2013, 05:39 PM   #27
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Abundance of E46 M3s (If you're under 30 enter here)

25, bought my m3 at age 23 for 22k Fully paid off and 3% of my checks gets put aside for future maintenance


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Old 09-20-2013, 08:28 AM   #28
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Bought a minty AW at age 24 for 21,500 cash in 2011. Maint. and tastefully modified thru two years of ownership and put 20k SOLID miles. Sold it for $22k cash to a college freshman in August of this year. Selling cars during the peak of the season......PRICELESS !
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Old 09-20-2013, 04:41 PM   #29
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Not sure why this thread matters all that much. I've "owned" 3 E46 M3s since I was 26 (2010), two were bought in cash and one was financed for the sole purpose of building credit (at 1.99% why not). These are not hard cars to obtain and anyone with any sense can afford a $20k (or even a $30k) example.
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Old 09-20-2013, 05:23 PM   #30
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Originally Posted by braymond141 View Post
Not sure why this thread matters all that much. I've "owned" 3 E46 M3s since I was 26 (2010), two were bought in cash and one was financed for the sole purpose of building credit (at 1.99% why not). These are not hard cars to obtain and anyone with any sense can afford a $20k (or even a $30k) example.
I'm not trying to berate, or attack you, but what does it matter if the thread means anything or not? I will never understand why people respond this way...

To each their own I suppose.
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Old 09-20-2013, 05:44 PM   #31
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I believe Braymond is trying to say that owning a $20,000 car is nothing to write home about. A "young person's" ability to purchase or take out a loan for a $20,000 used car isn't anything special as the OP seems to imply.
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Old 09-20-2013, 06:10 PM   #32
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Quote:
Originally Posted by Bmill160 View Post
26, owned for 3 years so far, financed, $23,700 after tax and title at 3.49% apr.

Now.... I financed, because if I get a theoretical 0.5% monthly return on my $20k worth of indexed options, or roughly 6.2% a year, and removing my short and long-term capital gains taxes each year, I wind up with $25,371 and change at the end of my financing. I have spent $23,700 on the car including interest, for a net gain of $1671.00.

AND at the end of my financing, I have a car, $1670, and a $20K reserve should anything happen.

...And I'm not getting 0.5% monthly return Just throwing it out there, not all debt is bad debt. Opportunity cost can be a much greater burden.
Teach me oh wise one!


Not an m3, but in the same price range....paid cash for the genesis coupe. Worst financial decision i have ever made, for the quoted reasons.
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Old 09-20-2013, 06:50 PM   #33
Bmill160
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Re: Abundance of E46 M3s (If you're under 30 enter here)

Haha my old roommate started his own hedge fund with his dad after college and has grown membership to now manage somewhere in the $2.3MM range on a weekly basis. I was fortunate enough to be part of it early on (although not fortunate enough to have a share like his dad who made $23,000 in August!)

But the point is, if you have alternatives that return more than your financing rate, it makes sense to finance and you don't blow your wad at one time. Otherwise, absolutely go buy and avoid the interest, keeping in mind your stack won't be sitting there IF you need it.

A vehicle is a depreciating investment so depending where you are in the depreciation curve (we're almost all bottomed out so the cars are not dropping quickly) your 20k today is not worth 20k tomorrow. So those who pay cash MIGHT be netting a negative, as are those who finance but don't reinvest. Just my .02

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Old 09-20-2013, 07:02 PM   #34
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Re: Abundance of E46 M3s (If you're under 30 enter here)

Quote:
Originally Posted by braymond141 View Post
Not sure why this thread matters all that much. I've "owned" 3 E46 M3s since I was 26 (2010), two were bought in cash and one was financed for the sole purpose of building credit (at 1.99% why not). These are not hard cars to obtain and anyone with any sense can afford a $20k (or even a $30k) example.
And braymond, YES! Having an installment loan is a great way to build credit. A revolving account like a credit card helps, but doesn't quite show commitment like an installment. Behind owning property (an even greater commitment) an "in-good-standing" car loan is the best tool to build.

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Old 09-21-2013, 01:09 AM   #35
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I'm not trying to berate, or attack you, but what does it matter if the thread means anything or not? I will never understand why people respond this way...

To each their own I suppose.
Why propose such a thread only to ambiguously mention age in closing.

It was merely a question of why this matters and what is he getting at.
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Old 09-21-2013, 05:51 PM   #36
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Abundance of E46 M3s (If you're under 30 enter here)

Quote:
Originally Posted by eightball1488 View Post
16.
Car and maintenance is all paid for by me.


Ha
Damn that's so sweet, I would have killed to get my m3 before I graduated high school but I was stuck with vw and audi haha.


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Old 09-21-2013, 09:57 PM   #37
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Old 09-24-2013, 09:24 PM   #38
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Re: Abundance of E46 M3s (If you're under 30 enter here)

22..03 M3..$17.5k cash..no payments

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Old 09-26-2013, 12:22 AM   #39
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Old 09-26-2013, 07:53 AM   #40
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I'm 17 and bought my ///M3 for 17k cash , thanks to lots of working and stock trading (helps having a brother in government)
It had 81k miles and is in mint condition
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