what percentage of those driving these cars can actually comfortably afford them? i wonder? i would say obviuously depending upon ones overhead structure outside of the car, that a minium pre-tax income to own a 5 series is 100-120k per year. as far as net worth goes, (assets-liabilities) excluding home equity, i would say an individual (or household) should have a minimum of 3 times the value of the car. so, if the car sells for 60k, then one should have a minimum of 180k in the bank or some form of investments outside of their principal residence. i do not think that these figures are at all unreasonable.
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| Reply » minimum income/net worth to drive an e60 |
Sounds like reasonable assumptions....
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| Reply » minimum income/net worth to drive an e60 |
While I have enjoyed your previous threads, this one I have to say is off kilter. Possibly you slipped getting out of bed this morning and hit your head on the night stand.
I comfortably owned 2 Porsche 911's brand new off the showroom floor and I am not ashamed to say I don't have $180K in the bank. The 550i is a cake walk payment wise compared to the 911.
Carry on.
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| Reply » minimum income/net worth to drive an e60 |
It depends on your definition of comfortable. It also depends whether you are single, DINK, or have kids. I don't have a household income of 180k but I could afford an e60 if I didn't have kids. With kids I just need to buy a used one.
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| Reply » minimum income/net worth to drive an e60 |
Quote: | i would say obviuously depending upon ones overhead structure outside of the car, that a minium pre-tax income to own a 5 series is 100-120k per year. | I don't make 100K a year and I will be owning the lowest model 5 series soon. 
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| Reply » minimum income/net worth to drive an e60 |
make 50K a year, single, own a 2005 m3....live with roommates, last year of residency, live comfortably....
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minimum income/net worth to drive an e60