I need some advice from the community. I have alil over a year left on my Bmw m340 lease. I have finally reached a pay scale where I can afford the cars I have wanted to drive for some time. Talking range of x3m /m3 or maybe even c63 but prob won’t be conducive w a decent lease. I have maxed out every retirement account and put extra into my mortgage. So my problem is this. I have a work take home car that I use 5 days a week. So my bmw sits in front of my house costing me 650 a month to basically drive to the gym 3 miles a day and on weekends on the rare occasion I drive for errands. Dream to get the m car vs reality of having a 750 plus payment a month sit in front of my house. I know I’m in great position and this isn’t really a problem, but what would you guys do? Save the money and yearn for that m experience or pull the trigger and realize I’m paying to have a car sit in front of my house???
If the m340 sits in front of the house 5 days a week I highly doubt you’ll get that much use out of a more expensive ride. For my .02 I would pocket the money and rent an M3 or whatever you want on Turo for a long wknd.
Are you the CEO of an airline? They are the only ones happy with their salary these days.
You’re asking for our thoughts so here’s my personal opinion:
I find it’s human nature to always strive for more and want the next best thing. I’ve always wanted a Maserati GranTurismo. When I got to the point that I could afford one I decided not to pull the trigger. (I was ready to fly to FL for one I found). Reason I backed out was I figured if I fulfill that dream I’ll check it off my list and just end up filling it with a new one. So I keep it as a ‘some day’ purchase and sometimes even daydream about it lol. I feel it’ll save me from spending more than I really need to.
I guess to me the value wasn’t there and I know I appreciate adding to my retirement instead.
Similar to you, the Maz wouldn’t be my daily driver so I couldn’t justify the cost. If you’re doing all the right things first like maxing out your retirement, have no credit card or other debt and want to splurge then it’s your call. Just know it’s a splurge😁.
I mean it’s tough to say, there’s not really a right or wrong answer to this question.
You have one side of people who are the financially wiser people who will tell you absolutely not, that makes absolutely zero sense and it’s waste of money.
On the other side, you have the genuine car guys and car enthusiasts that understand spending more for a car that you will thoroughly enjoy and drive for only X amount more than what you’re driving currently.
IMO, (granted I am someone who genuinely loves cars and been a car enthusiast my whole life) I would say life is short and if it’s not severely breaking the bank for you than go for the upgrade
HOWEVER, I would also say if your just getting it for the sake of the badge and the fact it looks cooler than your M340i, maybe rent one first or drive a buddies and then make your final decision. You may find that after driving one, the excitement dies down a little bit and you could live without it OR it may be complete opposite and it may just drive your desire for the car up that much more.
Psychologists call that Hedonistic Adaptation. The rest of us just call it the rat race.
If you win the rat race, if it’s even possible to win. Then in my book, you’ve lost the things that matter race.
I knew there was a name for it but couldn’t remember. You jogged my memory, the hedonic treadmill was what was on the tip of my tongue. (or thumbs I should say😂)
Hey OP, look into that and see if it helps you decide.
@Lax854 - Part of me says, do it! The sensible part of me says don’t. I’ve been down that road too. Back in the day, I wanted to get an AMG Benz. I got them. I got bored. Then I wanted more. I get a Quattroporte. After that, I got bored. There was only one way to go from there, up. I decided then and there to stop. It’s a slippery slope, once you get what you want, you end up wanting more and it never stops. I would do as others have said, rent it for the weekend, enjoy it. Give it back. Save your money and invest it. Just my 2 cents.
You are doing all the right things. Don’t feel guilty to rent your fun. But what would I do?
Swap OUT of this 340. See how you feel after 1 month without a car. If you still want one, set a budget (500? 650?) and swap into a lease (or get a new lease with the intention of swapping out) that is most fun you can have.
If you could get out of this one, I’d try to snag a Z4 deal and swap out at the end of summer. Or find a 4 series convertible that has 6 months left. Then when you are out this one wait a month and something different.
The flex is not leasing a car you don’t drive, it’s total freedom to lease nothing or have disposable leases that fit your budget (thus aren’t wasteful).
And keep doing what you’re doing to be so financially well-off.
If you’re going to put no miles on it why not buy a preowned Porsche 911. They hold their value very well and a blast to drive. Very easy to sell if you want to get rid of it also. If you lease a car and don’t use the miles you’re paying for not using it. I would bet if you got a well maintained low mileage 911 that in 2 hours you’ll spend less then $5000 in depreciation. If the market keeps tanking you might be able to get a steal also…
Honestly, I hate buying cars Bc the technology is always changing. I want the newest and best shiny object hence why I love leasing. Part of me saids to settle for a x3m40 and take a 550ish payment but still keep done speed and fun. But then other part of me knows I’m going to continue yearning for that m and amg. But then I’ll get it and regret spending 800 a month. I guess the real answer u guys gave me is there is no answer. Either I get the car and be pissed I got it. Or don’t get it and be pissed I’m driving a non m. You guys bring up great points tho and I appreciate the thoughts. After with everything going on I’m more grateful for these issues and either way I should be grateful for any car in my driveway 
If you want a car that you are only gonna drive for 2-3 days a week I would pick something more along the lines of a 911 carrera/turbo, corvette, gt-r, etc etc
At the end of the day M cars and Amg cars are sleepers, most won’t bat an eye if you have an m550 or an m5 and especially not an x3m40 vs x3m… honestly if I had to pick a weekend car it’s not gonna be an m3,m4,m5/c63/e63… it would be more along the lines of an amg gt/m8. Better bet would be to buy a used car that holds value decently well and is more flashy… i.e z06, gt-r, etc etc
Technology on a weekend car is mostly useless… what do you need adaptive cruise control for? lane keeping is a nanny, blindspot is a nanny, automatic emergency braking is a nanny, android auto is probably the only thing that really would matter to me, the rest of the tech is all for daily drivers.
If I get a weekend car, I want the top to go away
never was a fan of soft tops, they always make the car look ugly imo. Hard top would be the best of both worlds if you dont track it or run it at a strip.
Would love to get a corvette! Love the 2020…but I’m right back to a 60k car that will sit in front of my house. And lease deals will prob be non existent to the pt I could get the x3m for cheaper. Guess I’ll just weigh what’s more important when time comes…money vs wants. But as a poster stated…it’ll never be enough. A m will just lead to a want of a 911 etc. almost better to just maintain or downgrade at some point
If money is not that much of an issue just drive the car you want to work when you want to drive it
Personally I don’t think you’re saving enough if all you’re doing is hitting these arbitrary limits.
good problems to have…
1st question, can you use your take home on the weekends? If not, you need a car regardless of payment, or at least a bigger Uber allowance.
The more economical way to do this is to buy something with a depreciation curve that has already hit mostly, like a used 911 as suggested above. a 10 yr old vette would be good too
Third option is to do some Touros of fun things each month to get the bug out.
You can spend your money on a pricey lease that sites for 5 days b/c you want a new car with bell and whistles. no economical, but if that is the luxury you want, and you can afford it… far be it from a bunch of keyboard warriors who don’t have the kind of money you do to stand in your way.
Problem wiht a lot of these… the Touro fees for NICE cars aren’t cheap, you’ll likely not spend much less than your lease if you tried to do it every weekend, and its a hassle to do on repeat.
Older cars have the maintenance issues and do depreciate. if you aren’t enamored with the car older car b/c you want something “new” then it will get old fast. Getting something newer will defeat the purpose and be pricey too.
I’d consider keeping to just your take home for a while and seeing how you do… buy a nice mountain bike instead!
Though, ff you’re a car guy, there is a little bit of your identity tied to what you drive. So you’re a car guy who drives a take home and doesn’t have a cool weekend car?
I max out a 457…401k…two iras…and have a pension. Have 8 years left in my mortgage. I think I’m doing pretty good. Max you can always say instead of a 800 dollar car a month I should be doing this or doing that…but at what point? And no I won’t use my company car on weekends. I play by all the rules and don’t believe that it’s right to take advantage. I do appreciate all your guys postings. I find it interesting some of your thoughts. A prudent person will say save save! It’s wasting money. A car enthusiast will say drive what you want. I’m equally both and that’s why I don’t know what to do! Maybe just settle for lower payment w some speed ie x3 m40.