[jonatious]

I generally look at people owning cars over 120ish grand as super rich and they having a busy life and not having time for forums. I see a lot of people here posting just casually that they are replacing their 2019 $150K car with a 2021 $150K car. I don’t like to judge people by their financial decisions, but I‘m still curious how rich they are and what they do for a living 😄

[JJ 911SC]

May not be if the bank or BMW Finance own the car

[IllSic_Design]

There are quite a few people doing well making $150k-250K+

Me on the other hand, poor a.f. in CA lol, fine with my 16k E92

[kscarrol]

Might as well ask how big is your pecker... everything is bigger on the internet!

[MKSixer]

Originally Posted by kscarrol

Might as well how big is your pecker... everything is bigger on the internet!

And if it's on the internet, it must be true!!

[kscarrol]

And frankly an X7 ain't cheap, hell the X7 M550 starts at $100k before various options so how about the OP start off telling about his/her's net worth/what they do for a living.

Just busting OP's chops but this has been discussed before but I believe very little I see on the internet including what people say they are worth. Enjoy the cars, come to the OT for the funny bullshit and don't worry about the Jones'!!

[MKSixer]

Originally Posted by kscarrol

And frankly an X7 ain't cheap, hell the X7 M550 starts at $100k before various options so how about the OP start off telling about his/her's net worth/what they do for a living.

Just busting your chops but this has been discussed before but I believe very little I see on the internet including what people say they are worth. Enjoy the cars, come to the OT for the funny bullshit and don't worry about the Jones'!!

Exactly.

[IllSic_Design]

Originally Posted by kscarrol

And frankly an X7 ain't cheap, hell the X7 M550 starts at $100k

I thought the same when I saw their vehicle was an X7 lol

[sygazelle]

I'm thinking there is no correlation between what car a person drives and their wealth. When I say wealth, I mean net worth: Total assets minus total liabilities.

How much one makes per year is not the best indicator of wealth because some people go through money like water and have nothing to show for it.

There are broke people driving really nice cars. There are wealthy people driving 10-year-old paid-for cars. When you see someone in an expensive car, its a zero indication of their actual wealth.

There are people who make average salaries and lease cars who are making perpetual lease payment. The attraction, of course, is that lease payments are less than loan payment on the same car, so they can drive more cars for the monthly payment. These people are driving new, nice cars at the very top of their depreciation curve and then do it again and again. I'm not saying that's a bad thing. Living for today has some appeal since you don't know what tomorrow brings. But the fact is, perpetually leasing fancy cars can make you look richer than you are and also have a bad impact on net worth. The exception, of course, is those that take the cash they saved leasing instead of buying and investing that money wisely, there is an argument that leasing is a financially viable option. My guess is the percentage of people who fall in this category is about the same as those who win in the long run in Las Vegas.

[iminhell1]

I make $18.50/hr and have no shame about it. If people where as open about their finances/job as they where with their political BS ...

Bought my car used in 2017 for about $21K (loan).
Doing the single swap is taking me longer than I'd hoped, but that's 100% on me. And I'm dragging my feet because I really want to do a real trans upgrade and it's not cheap. So I'm saving for that. Car is not a huge priority. Longer I have it the more it might appreciate in value (LOL, totally not why I bought it).

[roastbeef]

I think most people are deeply in debt and/or spend everything they make. Cars don't convey wealth.

[Suds]

You need to understand some of the forum members are older, maybe no longer married, my house no longer needs granite on every surface, the floors no longer need to be expensive tile, etc. Cars, rims, tires and etc are just monthly expenses.

[minn19]

OP, what would you do with the information/why do you care?

Still find it odd when I see threads like this. People are surprised that there are people on a BMW forum that make a lot of money or are well off? You think it’s interesting here, start checking out Rennlist etc.

[thestimp]

If youre looking for honesty, I could afford well better than an M3, but its my dream car and fun. Plus I'm too big for most supersports. My secondary car is a 21 Kia Sorento. Most my money goes to experiences and travel, taking care of family and friends etc... A big house and flashy car is a waste of money in my book. Stability and comfort in lifestyle is better.

[NeverL8]

There’s a lot of people out there who are poor but trying to look rich. Leasing a brand new (50-150k) vehicle, renting in prestige part of town and live paycheck to paycheck.

On other side....I’ve met a good amount of people who drive 5 year old Camry and Hyundai, but have milllions in the bank.

It’s all about perception on both ends

[Sara]

I have a daughter and three horses. I’m broke forever

[The J-Man]

I make good money but I don’t live to work. I work to live. And I strongly abide by “work smart not hard.” As such, I have plenty of time for forums, cars, travel and whatever else I enjoy. I know people making $1 million+ working a 40 hour week. You don’t have to kill yourself and be a workaholic to make good money. Don’t get me wrong, I’ve had my share of 90+ hour weeks, but over time you work that out and figure out how to balance it.

[M_Six]

Today we took Wifey's 2006 Honda Civic (42k miles on it) to an appt. I put just 5k miles on my GLC300 last year. We work at the same university and have a 5 mile r/t commute. We have no need for anything special as far as transportation goes, so that would be a poor indicator of our net worth.

Now my roadbikes on the other hand...

[hubbahubba]

Net worth is very fungible. Cash flow is all that matters for lifestyle. Unless you are REALLY rich....

[evil-G-nius]

Originally Posted by IllSic_Design

There are quite a few people doing well making $150k-250K+

Me on the other hand, poor a.f. in CA lol, fine with my 16k E92

I can relate! LoL. Broke-ish, currently job hunting living in California where EVERYTHING is expnsive. Love my Infiniti Coupe, paid it off a year early 3 years ago. I have had ZERO debt since the car was paid off so while I am not making much money right now...I am not spending much either. No shame to my game either peeps

[Esteban]

House paid for, cars are paid for. I'm retired. Wife works part time at home. No debts. Don't need anything. Content, at the moment. Enough savings, but you never know.

[The J-Man]

Originally Posted by evil-G-nius

I can relate! LoL. Broke-ish, currently job hunting living in California where EVERYTHING is expnsive. Love my Infiniti Coupe, paid it off a year early 3 years ago. I have had ZERO debt since the car was paid off so while I am not making much money right now...I am not spending much either. No shame to my game either peeps

Other than housing, what exactly is more expensive about California? I hear people complain about this, but I don’t get it. Food? Utilities?