f80 M3 vs Student Loans

[Falafel Combo]

$69,000 left on my student loan account. Pay it and be done with it (6.8%) or take a stroll down to my local and very unfriendly BMW dealership to place a deposit on an f80 M3?


Ok, GO!

[Black Gold]

not sure if serious

[jc1654M4]

I thought college made people smart :/

[Caelric]

How in the f do you have 6.8% interest student loans?!?!?!??!?!

The only reason my student loans are not completely paid off is that they are only 2.1% I put money towards my mortgage payment before that, since my mortgage is slightly higher. If my student loans were 6.8% they'd've been paid off a long time ago.

Anyways, the answer is pretty obvious. Pay the student loans off.

[TunedM2C]

Originally Posted by jc1654M4

I thought college made people smart :/

Depends on which college you go to.

[jc1654M4]

Originally Posted by Strongbark

Depends on which college you go to.

Lol that's def true

[Sapper_M3]

Originally Posted by alpinweiss 335i

$69,000 left on my student loan account. Pay it and be done with it (6.8%) or take a stroll down to my local and very unfriendly BMW dealership to place a deposit on an f80 M3?


Ok, GO!

Depends.

6MT vs DCT? Color?

[Randy M]

You sound like a perfect candidate for leasing lol.

Pay off your loans, buy a house and sock away some earnings for a while. You shouldn't even be considering a car like this. Go buy a used GTI and run it into the ground first.

[bmw-nj]

You already have a 13 335. Tune it and pay off the student loans.

[Falafel Combo]

Originally Posted by Caelric

How in the f do you have 6.8% interest student loans?!?!?!??!?!

The only reason my student loans are not completely paid off is that they are only 2.1% I put money towards my mortgage payment before that, since my mortgage is slightly higher. If my student loans were 6.8% they'd've been paid off a long time ago.

Anyways, the answer is pretty obvious. Pay the student loans off.

I know crazy, no? The only reason I have 6.8% student loans is because I just paid off the 8.5% ones! Both federal loans BTW. Fixed interest rate. Best part is they do not allow you to consolidate or refinance them. They got me pretty good.

[Falafel Combo]

Originally Posted by Sapper_M3

Depends.

6MT vs DCT? Color?

[Falafel Combo]

Originally Posted by Rated R

You sound like a perfect candidate for leasing lol.

Pay off your loans, buy a house and sock away some earnings for a while. You shouldn't even be considering a car like this. Go buy a used GTI and run it into the ground first.

You're right! In a single month I was paying more in interest alone than your M3 lease payment.

[Falafel Combo]

Originally Posted by Strongbark

Depends on which college you go to.

Nah, doesn't really matter. They all make you more dumb and financially irresponsible. So back to my question, ...

[Randy M]

I've been out of college for close to 20 years now. Looking back thinking about the professors I had and their pompous condescending attitudes, those academic idiots really do live in a bubble lol...

The adage really is true, those who can't do...teach.

[Black Gold]

nice trollin, OP

[Lups]

Originally Posted by alpinweiss 335i

Nah, doesn't really matter. They all make you more dumb and financially irresponsible. So back to my question, ...

I was trying to make myself write that pay up your loans, buy a house, get a wife and live long and be merry. Unfortunately that would make me the hypocrite of the century. I still have mortgage, but I'm going to have one till i hit 40, so instead of thinking this as a reasonable purchase, I'm investing in my future. this car will keep me sane in this middle aged engineer land, where I'm living now.

Go for it, live a little, don't wrap it around a tree.

[Maddict3]

Originally Posted by jc1654M4

I thought college made people smart :/

+1

[JTO24]

Buy cars and hookers.. everything else is just details

[Falafel Combo]

Originally Posted by Lups

I was trying to make myself write that pay up your loans, buy a house, get a wife and live long and be merry. Unfortunately that would make me the hypocrite of the century. I still have mortgage, but I'm going to have one till i hit 40, so instead of thinking this as a reasonable purchase, I'm investing in my future. this car will keep me sane in this middle aged engineer land, where I'm living now.

Go for it, live a little, don't wrap it around a tree.

I hear you. Besides, everything is a payment nowadays. Mortgage, car, insurance, business loans, credit cards. Not a lot of people "buy" stuff. You either finance or lease it. Besides, why would I tie $70,000 cash in a depreciating asset? I prefer to use someone else's money, low interest rates and let inflation work to my advantage. Maybe i'll hold off until interest rates on the f80 become more competitive, and finance it then?


The 6.8% just kills all the fun, and wants me to get out of that loan ASAP!

[Falafel Combo]

Originally Posted by jc1654M4

I thought college made people smart :/

Originally Posted by Strongbark

Depends on which college you go to.

These are from graduate school BTW. Not college.

[Randy M]

Originally Posted by alpinweiss 335i

I hear you. Besides, everything is a payment nowadays. Mortgage, car, insurance, business loans, credit cards. Not a lot of people "buy" stuff. You either finance or lease it. Besides, why would I tie $70,000 cash in a depreciating asset? I prefer to use someone else's money, low interest rates and let inflation work to my advantage. Maybe i'll hold off until interest rates on the f80 become more competitive, and finance it then?


The 6.8% just kills all the fun, and wants me to get out of that loan ASAP!

Pay off your debt or pay it down as much as possible. Avoid monthly recurring charges. Do it when you're young or you'll forever be a slave to it.

If not you'll be touting the benefits of leasing a car to save face that you can only afford the monthly payment for years to come....

[Lups]

Originally Posted by alpinweiss 335i

I hear you. Besides, everything is a payment nowadays. Mortgage, car, insurance, business loans, credit cards. Not a lot of people "buy" stuff. You either finance or lease it. Besides, why would I tie $70,000 cash in a depreciating asset? I prefer to use someone else's money, low interest rates and let inflation work to my advantage. Maybe i'll hold off until interest rates on the f80 become more competitive, and finance it then?


The 6.8% just kills all the fun, and wants me to get out of that loan ASAP!

I'm paying in cash, and for ones in my life, I don't care about depreciation, I'm doing this just for me.
I have to say, that with that interest rate, pay the loan up first, then play. I can't get used to this paying for your own education thing, your system sucks big time.