Definitely gonna need a co-sign as well for probably any lease, I needed one when I got the hc and I had an 800+ credit score, credit history from ages 18-23, utility bills the whole 9 yards, only mistake was paying cash for cars. Got flat out denied, sales guy said he had never seen an 800+ credit score denied, he called and they said it was for lack of history. Go figure, parents didn’t mind co-signing.
Yea I think I’ll jus relax an save my money an jus keep driving my uncles BMW X5 , or maybe I buy a Toyota Camry
eh if you want a new car, a 540 ain’t too bad. Depends on how much you wanna spend. I’m hunting down a 540 for $399 a month but that’s not realistic for most, probably $500 is doable for the majority of people. Throw a jb4 tune on it and you have a roughly 400 hp car that does 0-60 in 4.0-4.4 and has awd for northeast winters, probably cost you $150-$200 to insure and maybe $100 a month in gas.
If you can get that it’s a steal of a deal
You make $100k in CT and your insurance is 300 a month? Time to go for a Porsche my man. If you want to go bankrupt, might as well do it in style…
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What are the odds that we see lease transfer post for M5 in eight months?
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Going to be frank but even at $100K take home (Pretty sure you mentioned this was pre-tax though) a $1,400 lease payment is pretty shaky.
Are you sure you wouldn’t consider an M550i instead as those can be had for 50-60% of the cost with the upfronts you’re willing to drop.
Why not buy a cpo M5 to get In good standing with BMW Financial. With out a co signer or having financed a similar car, you won’t get approved.
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A demo might be better lease option , but I’ll weight my options . I might jus settle with a m550 if I could
m550 is like a previous gen m5, a very good choice for a first timer. Not to say you’re inexperienced but sometimes a logical progression in horsepower helps you get a better feel for the car, now the new m5 has awd so it’s a bit of a nanny but many people have hopped into extremely fast rwd or rwd biased cars and lost control very easily, one thing nobody will tell you is that these front engine rwd/rwd biased cars are extremely tail happy and the rear tends to fly if you gun it around corners or turns and if you dont know how to countersteer and control the throttle results are disastrous.
Just a word to the wise, this is how the mustang meme was created but in all seriousness enthuasists forums are littered with these stories.
In my own experience I went from 300 to 400 to 500 and then made the jump to 707(currently 850 with mods) in respect to hp.
I’m used to power i have a 590 hp Mitsubishi evolution 7 I owe outright , so it’s not my first time where that is concerned lol
I make a good deal more than that and think any car payment over 1K is insane.
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Dang that’s cray cray money for a car, everyone already said it but BMWFS probably won’t approve you?
When I was 21 making $80k a year with fairly strong and diverse credit file (no auto loans though) I tried to get a $56k 3 series that was discounted to about $38k out the door (so tons of relative equity) but they only approved me for $36k maximum which was kind of weird even with the college grad program.
Also, when it came time to insure it, I insured it under my moms name, if I got pulled over or into an accident I was driving the car with her permission so I was covered too. Insurance premium was about $80 a month full coverage with a low deductible
Idk dude just get creative, half the battle is making the money the other half is getting to keep as much as possible… in your case it seems you just wanna ball hard which is fine, but think about your future and retirement, 401k, ira, mutual funds and stocks… in ten years from now you’ll look back and see your pics with the M5 but nothing to show for it or you could have a six figure investment account and be 100 years ahead of most people in this country
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Yea I’m thinking hard about it , I don’t think I might do it , I’ll jus settle for a M550 or a 540i for now , I have to really think about my future
Oh the hardships of life! 
. One of my biggest regrets looking back on my youth is not investing in my retirement earlier.
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Save yourself even more and “settle” for an M340. More nimble / fun to drive and newer tech vs 550. 2020 M550 got an upgraded engine but doesn’t lease too well vs 2019. At that price point, it’s just not worth it. 2021 is getting an LCI so your car will be outdated in less than 1 year.
evo x or previous gen? I had an eclipse gsx(300 hp) as my first car loved it but couldn’t risk the temptation of the supra(400+ hp). I like jdm but german muscle has a whole different feel as a vehicle.
do a jb4 on the m550 and it will give you another 100 hp and boom it’s even better than a 2020 m550.
If you really have to think about your future , you should settle with a loaner 330i. If you really want to spoil yourself, pick the color combo you want .
Got some loaner X1’s that are leasable if we wanna keep going lower. 