How do people afford BMWs?

How do people afford BMWs?

I drive to work every day and I see ever increasing numbers of them (and audis and mercs)…. cheapest BMW to buy seems to be 18,000 and given the average salary is 25k how on earth are so many people affording them? I earn more than the national average but I can’t comprehend spending more than 5k on a car.

I’m guessing most on here are earning significantly above the national average – are you all the ones driving BMWs?

What percentage of your income do you spend on your cars (not running costs)?

my car is worth about 3% of my [gross] income

Company vehicles?

they dont own them.

Lease deals/second hand?

I’ll wager that most of the BMW’s seen on the road are on some version of finance. Whether its dealer/BMW finance, personal loan etc, or on a contract purchase.

That’s not forgetting the ones that are company cars too.

option 1 : cos they are mega rich ? 😉
option 2 : please dont let me spell it out to you 😉
option 3 : daddy ownes an international airline company
option 4 : Lottery win
option 5 : their horse just keeps on winning

How many people get company cars? i don’t know anyone that does…. do many people really lease?

Always looks like a good way to loose a lot of money.

My son has a BMW – but then he earns around 4 times more than I do 😕

Company vehicles.

Also, various lease/finance options mean that people can drive away new BMWs from the showroom for “not a great deal of money” upfront. A lot of people like to drive status cars – and are happy to spend the equivalent of a half decent bike every month in order to look good in front of neighbours, friends, girls…

How much do you have to earn to drive a BMW?

I’ll wager that most of the BMW’s seen on the road are on some version of finance.

Not being a smartarse, but I reckon most of any “new” reg cars are on finance.

Well as no BMW drivers have a soul I think we know the answer, they are all bought with the Devil’s money

option 3 : daddy ownes an international airline company

I pass a lad on my drive home quite often. he looks 18 at best. so far I’ve seen him driving a porsche 911, VW Golf R32 and a RR sport….

they dont buy them. you can get a hell of a car on hire purchase/leasing for not loads of cash.

BMW 1 series offer.

£250 a month is not cheap but not stupid money either

How much do you have to earn to drive a BMW?

How long is a piece of string ?

What model ? New ? Pre-owned ? etc.

I drove one the other week that was for sale, 57 plate 1 series diesel, 1 owner, full dealer history, 100k, fully loaded with all the options. Up for sale at £6k. ( Since sold ) I drove it 85 miles to the dealers & if you didn’t know the mileage was 100k, you’d have thought it’d have done less than half of what it had.

EDIT: Speaking of ‘high’ mileage, drove a 525d Touring today, same dealer, same 85 mile journey, the car drove ‘as new’ no rattles, squeaks, good strong engine, smooth drivetrain, all the electrics worked, leather interior was immaculate. The miles ?……272000 !!

Intersting. That’s a sh** one tho, you see far more 5 series and 3 series.

@mrmo:

Customer Deposit £3,410.52

But agreed, for most people on STW, £250 would be loose change 🙂

I just bought a Volvo which cost £30,000 back in 2002 😀 Paid cash too. 2nd hand is the way forward!

still theyre all Fugly, the X series are all ridiculous and i never want one. I’d rather a skoda hmmm octavia scout!

as for 3 and 5 series, every company i have worked at over the last couple of years has given managers and reps company cars, often Audi or BMW, it can be a lot of cars.

Low monthly payments with a “balloon” payment at the end of a set period which is supposedly the same as a minimum future value of the car. So they can pay the balloon payment or hand the car back and get a new one.

So given the above there must be a small percentage of people buying / leasing new cars, and then releasing them after x years into the hands of ‘normal’ people?

2nd hand indeed is the way forward, let some other eejit get hit with the depreciation. means more money for bikes and hols….happy days.

I guess fleets buy them at substantial discounts…
56.5% of total car sales in April went to fleet customers.[/url]

http://tiny.cc/avqxm

Second hand high mileage can be had dirt cheap

deadlydarcy – Member
Company vehicles.

Also, various lease/finance options mean that people can drive away new BMWs from the showroom for “not a great deal of money” upfront. A lot of people like to drive status cars – and are happy to spend the equivalent of a half decent bike every month in order to look good in front of neighbours, friends, girls…

This, status and though business in some way.

Perhaps they work hard and get paid well for it?

That’s 10 years old tho – surely banger terrority?

Assuming that number of 245 above, then a higher rate tax payer would need to have a £612 a month car allowance (60% real rate of tax – 40 + 11 + 9 student loan). And people spend that on a car rather than take the money? Crazy.

fella I work with has a Dad (just the one) who works for BMW and gets a reduced family lease deal for up to three cars he gets a shiny new Mini every twelve months (and thus the piss taking resumes) but as he points out there is no way he could afford to buy any of these cars but he can choose a new mini/1/3/5 series every year for an “affordable” sum pretty much free of worries about servicing or wear and tear…

Flashheart – guessing you drive one – no offence!

Just there are a awful lot of them about so I’m assuming that most people who drive them earn something around the average.

Loads of people get a car allowance, loads of others just spend the 350 or so it costs to get one on PCP others just buy them as they have the cash.
I read somewhere that BMW outsell Ford now or did I dream it? Anyway people can do what they want tis their money eh.

Well apparently BMW car sales only account for about 6% of all car sales so surely by that reasoning it doesnt mean everyone on average salaries buys them.

http://www.am-online.com/new-car-sales-figures/%5B/url%5D

dave56 – Member
Flashheart – guessing you drive one – no offence!

Much has been taken. 👿
😉 I drive a Volvo and an old Mercedes…!

If you do get a company car, they often work out cheaper than a Ford/Vauxhall as the tax is based on retail price and co2 – plus they often depreciate less.

And I’ve a 535i, worth about 2 days’ pay…

🙄

There aren’t an ‘awful lot’ of them… unless you live near to a large employer who is part of the BMW group??

You’re just jealous, have a fixation , therfore you notice them all… and I for one pity you. Jealousy is such an unattractive quality.

That’s 10 years old tho – surely banger terrority?

Your idea of banger is clearly very different to mine!
I’ve recently bought a car which has the new number-plate system, rather than a reg letter. That’s almost new!

And 3 series outsells the Mondeo.

You’re just jealous, have a fixation , therfore you notice them all… and I for one pity you. Jealousy is such an unattractive quality.

Wow where did that come from? I was just pondering the question as I drove into work…