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      07-21-2017, 05:06 AM   #1
AylinNett
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How can you affort it?

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Hi,

probably it's an unsual individual question. I live in Germany and to afford a X*M you should have a well-payed job or running your own business. Car himself, insurance and all related parts are quite expensive. Of course not for everybody. I know in US the car costs fewer and gasoline is lower taxed and cheaper than here.

How are you able to afford this lovely car?
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      07-21-2017, 08:44 AM   #2
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Quote:
Originally Posted by AylinNett View Post
Hi,

probably it's an unsual individual question. I live in Germany and to afford a X*M you should have a well-payed job or running your own business. Car himself, insurance and all related parts are quite expensive. Of course not for everybody. I know in US the car costs fewer and gasoline is lower taxed and cheaper than here.

How are you able to afford this lovely car?
Here in US mostly have a well-payed job AND run your own business. Everything is expensive but if you have a good driving record at least the insurance isn't too bad. As far as the parts, well you just have to skip some meals here and there
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      07-21-2017, 02:35 PM   #3
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      07-21-2017, 03:31 PM   #4
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It may be cheaper here, but still not for everybody.
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      07-21-2017, 04:58 PM   #5
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Owning cars such as the X5M and the X5M are a lot more do-able in the US vs. countries like the Netherlands, Germany etc. The vehicles are cheaper, more flexible and accessible financing plans, fuel is cheaper, taxes are cheaper, insurance is cheaper, etc. etc.
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      07-21-2017, 05:31 PM   #6
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I moved to the US from the UK 6 years ago and I thought exactly the same way, I saw teenagers driving around in M3s, AMGs etc and thought how the hell did they afford that. I would've been super happy with a Golf GTi.

After a short while, I learned how it was possible and it's because of the reasons P1et listed above.

Couldn't imagine driving an X5 or any gas guzzler in England, filling up almost £5000 in fuel would've been painful on a UK salary.
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      07-21-2017, 06:04 PM   #7
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Quote:
Originally Posted by P1et View Post
Owning cars such as the X5M and the X5M are a lot more do-able in the US vs. countries like the Netherlands, Germany etc. The vehicles are cheaper, more flexible and accessible financing plans, fuel is cheaper, taxes are cheaper, insurance is cheaper, etc. etc.
Correct- and some of the reasons why Americans are mostly in debt up-to their eyeballs. So AylinNett, take comfort in the fact that most likely you're not spending sleepless nights over indebtedness. It's better not have the XM's of the world but sleep peacefully.

Last edited by musa; 07-21-2017 at 06:10 PM..
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      07-21-2017, 07:13 PM   #8
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      07-21-2017, 08:13 PM   #9
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On social security. Uncle Sam is paying for mine.

Gas is significantly cheaper here, but few buying an X6M would worry about that price.
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      07-23-2017, 08:06 AM   #10
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Car and gas prices are more reasonable in the US. But, the X6M/X5M is still not cheap by US standards and not many can or will buy a car costing this much.
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      07-24-2017, 02:30 AM   #11
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      07-24-2017, 06:09 AM   #12
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Business owner, as I believe quite a few of us are. When you are buying this class of vehicle, gas price doesn't really come into the equation (for me anyways).
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      07-24-2017, 09:17 AM   #13
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For $1,200/month you can lease a $110K+ car. I don't know many other countries where this is possible.
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      07-25-2017, 05:03 PM   #14
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Quote:
Originally Posted by AylinNett View Post
Hi,

probably it's an unsual individual question. I live in Germany and to afford a X*M you should have a well-payed job or running your own business. Car himself, insurance and all related parts are quite expensive. Of course not for everybody. I know in US the car costs fewer and gasoline is lower taxed and cheaper than here.

How are you able to afford this lovely car?
Customers with X5M/X6M in the US are in the top 1% income, assumed to be either professionals, small business owner, tax deduction of vehicle, so this is not indicative of the over all US market as there are a lot more X1 and X3 on the road.
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      07-25-2017, 07:08 PM   #15
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Quote:
Originally Posted by Ibiza View Post
Customers with X5M/X6M in the US are in the top 1% income, assumed to be either professionals, small business owner, tax deduction of vehicle, so this is not indicative of the over all US market as there are a lot more X1 and X3 on the road.
I disagree! I have had 2 M5's E39 and E60 and 2 X5M E70 and now the F85. I plan on buying the new F90 M5 in next couple of months. It's all about how you save and set aside funds for things such as this. I have never lease any of my vehicles. I have paid monthly payment like most. I can say after serving the Military over 32 years all of my BMWs was purchase through the Military Car Sales Program which I save about 10k per vehicle due to not paying sales tax or property tax, and getting the cars at Manufactory Suggested Price. Currently my F85 X5M, I had to pay full price at $115k. Retire from Military now so I don't get those breaks Overseas anymore. Currently in South Korea, as Government employee and I now qualify for those break I had as a Army Officer. The new F90 M5 will cost me around $115-$125k after I put all the options I want. I feel Manufactory Suggested Price will be around $112k. I just budget for it, 10% each month. Yes, Married with two kids.
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      07-25-2017, 08:09 PM   #16
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Originally Posted by Dinan-M View Post
I disagree! I have had 2 M5's E39 and E60 and 2 X5M E70 and now the F85. I plan on buying the new F90 M5 in next couple of months. It's all about how you save and set aside funds for things such as this. I have never lease any of my vehicles. I have paid monthly payment like most. I can say after serving the Military over 32 years all of my BMWs was purchase through the Military Car Sales Program which I save about 10k per vehicle due to not paying sales tax or property tax, and getting the cars at Manufactory Suggested Price. Currently my F85 X5M, I had to pay full price at $115k. Retire from Military now so I don't get those breaks Overseas anymore. Currently in South Korea, as Government employee and I now qualify for those break I had as a Army Officer. The new F90 M5 will cost me around $115-$125k after I put all the options I want. I feel Manufactory Suggested Price will be around $112k. I just budget for it, 10% each month. Yes, Married with two kids.
Thanks for serving. I think Dinan-m is not far off the mark. If you can save 10% of ~$100K per month, you gotta be hitting at least $200K+ per year which would put you well above top 5% income of US population per last census and IRS data

Last edited by musa; 07-25-2017 at 08:23 PM..
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      07-25-2017, 09:40 PM   #17
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Quote:
Originally Posted by musa View Post
Thanks for serving. I think Dinan-m is not far off the mark. If you can save 10% of ~$100K per month, you gotta be hitting at least $200K+ per year which would put you well above top 5% income of US population per last census and IRS data
I make a lot more than $150k a year. I guess I am in 1%. My bad.
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      07-27-2017, 11:59 AM   #18
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Compare with the living cost in TX and Bay Area(CA). I can only afford X5 5.0i or TESLA S 75D due to most of money towards housing. X5M will be out of my range even with making more than $200k.
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      07-27-2017, 12:08 PM   #19
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Quote:
Originally Posted by Sharp_Cai View Post
Compare with the living cost in TX and Bay Area(CA). I can only afford X5 5.0i or TESLA S 75D due to most of money towards housing. X5M will be out of my range even with making more than $200k.
you should move hahha
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      07-27-2017, 01:00 PM   #20
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Dont have kids.
Wish someone had told me that 8 years ago! 4 kids later...

Actually, all of my kids love my cars... makes it more fun! (the cars and the kids)
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      07-27-2017, 01:27 PM   #21
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Quote:
Originally Posted by Sharp_Cai View Post
Compare with the living cost in TX and Bay Area(CA). I can only afford X5 5.0i or TESLA S 75D due to most of money towards housing. X5M will be out of my range even with making more than $200k.
You mean the cost of a brand new X5M, right? Do as I did........wait for someone to buy a new one......for some reason they sell it after 2 years.... they hit a huge depreciation (25%) ... you buy it ....used but basically a new car. There, you got your X5M

Seriously, these cars are hitting major depreciation, esp since next gen X5/X6M are just round the corner. You can get a 2014/2015 even 2016 with less than 20k miles for very good prices.

Last edited by musa; 07-27-2017 at 01:34 PM..
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      07-27-2017, 01:42 PM   #22
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Quote:
Originally Posted by Dinan-M View Post
I make a lot more than $150k a year. I guess I am in 1%. My bad.
For TX you have to make more than $424K a year to be in the top 1%. The average annual income of the top one percent in TX is $1,301,618
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