should a 21 year old be driving a new m3?

No 21 year old should drive an M3 without passing a racing school course first.

 

This thread reminds me of another thread at Houston-imports.com only this is a real kid who's 16 with an M3. I wish I had an M3 at the age of 21.

http://www.houston-imports.com/forums/showthread.php?t=212856

The kid called an STi and the EVO a beater!! >=/

 

He'll get much less attention from The Fuzz in an older white 750iL (and it's nearly as fast.)

 

I'm sorry. I automatically subtract something from a person when they get a fairly nice car without their own money and they are young...

 

That's pretty weak in my book. I was fortunate enough to get a nice car when I was 18, but as soon as I was out of college and on my own I began paying all of my bills. In fact, having the nice car was motivation because my parents always told me that if I wanted to maintain a certain lifestyle I would have to work extra hard at it because they refused to subsidize me one bit after college.

So in my case it served to help.

 

You must subtract a lot in Santa Barbara!

Actually, are there any younger kids there? Seems like a place for older folk from LA with $$.

 

Actually, most of the vehicles are very moderate. My high school maybe had 3-4 vehicles worth over 25K. We had about 500 parking spots.

But then again, I went to school in Ghetto-leta. (But the best high school was there. )

 

*Shrug*....I'm paying my own way in college...

 

Nothing wrong with that! Its admirable. Just don't think that everyone who doesn't follow your path is automatically questionable on some level.

 

Well...it is my right to be judgemental...

I'm sure my opinion would be different if I didn't have to pay my way through college. It has been rammed down my throat since age 0 that I should earn everything in my life...

 

And anyone who says they aren't to a certain degree is full of it!

 

I am 24 going on 25... I got my first car when I was 20, bought the 89 Olds Cutlass off my parents. I sold the car at 21 and got bought myself my 1994 Accord. Most of my friends didn't pay for their cars, and they never take care of them. I paid for both my cars, when its your money you take care of them and don't do anything stupid.

My brother and I were both brought up to fend for ourselves. Our parents never gave us anything that we didn't earn.

 

I don't see an issue. When I was a kid (17) my friends and I were driving around with big block V8s under the hood -- 455s, 396s, etc. They certainly handled worse than the new BMWs. If the kid's parents want to pay for the car, then by all means let them. Isn't the whole basis of investment leverage the use of other people's money to get what you want? Just a different facet of the same mindset.

 

When I was 21 I drove a six speed 95 Z-28 Convertible with a vortech supercharger. Obviously not as expensive as a new M3 but there was plenty of HP to get me in trouble. I only got pulled over once and it wasn't for speeding. IFor the most part I always drove responsibly. If the 21 year old you are talking about repects others, respects himself, loves cars and a mature individual then I think there will most likely not be any problems. If this 21 year old has a history of tickets, accidents, etc.... then obviously it isn't a good idea.

 

How does this compare to investment leverage?

 

Hello there everyone - rarely do I post, but I figured I could comment well on this thread since I am 21 and frankly was offered a car of equal value to an M3 at 18.

I think that certain people mature at different rates, and I have no doubt that certain 21 year old's could handle an M3 or other fast cars.

Do I think that 21 year olds should be driving new M3's? The answer is no. Let me clarify - I don't think a 21 year old should have a car worth $50K. My simple logic is, if you have an $50K car at 21, what do you have to look forward too?

I have been a responsible kid and have parents who can afford to give me a very nice car, and would and want to in a second, but the truth is, I don't want it now! Just because you can get it, doesn't mean you shouldn't try to live like the rest of the world and set goals and try to fufill them. I have friends who currently have M3's, S6's, Range Rovers etc. and are all nice, humble kids - but the only difference between them and I which I notice is that the car that they have has made them lose that edge, that hunger to earn and get it all by yourself. Granted I don't have a shabby beater in my '98 Avalon, but its no Bimmer.

See, in every wealthy family, someone worked hard. Whether you are what is considered "new rich" and your parents had nothing and now have something or you are the Vanderbilt's, someone put in the long hours, someone took a risk. I say live like a rockstar, on your own tab.

Oh, and read The Millionaire Next Door and pass it on.

 

well said. You make some great points.

 

I think this is more along my logic. Thank you for being the best descriptor of it.

 

What you read below: don't get me wrong, I am fortunate. But I agree very much with HarFerrari.

I was 15 when i got my 96' S420, I didn't have my license yet so I would drive it around the island I lived on cause cops didn't patrol really. I got rid of that 3 monthes later due to problems, I went to an 01' S500, and now I am looking at either a Cayenne, Range Rover, or G500. I'm only 18...

But keep in mind, I have been at the bottom. At an early age my parents had a bad downfall (real estate...) and had to move out of california. I saw many many things get repo'd infront of me. It's been 12 years and my parents are still working to get it all back. I am very fortunate now to say the least..

AND I made it up to the big UCLA meet, I counted about 70 M3's and the owners all looked in their late teens to early 20's.

I had a friend who moved here from the east coast, for his first car he got an X5, got rid of that then a custom SVC Escalade EXT (age: 17), then keeping the EXT, he got a custom lifted Escalade ESV on 22's, and also custom Mercedes CLK, and a custom CL600. (yes, the black CL600 T12 Bi-turbo that was in Brabus's showroom for a while with black 20s. 4 cars at age 18...

Explain that? I don't know

this kid at my old high-school took pics of the parking lot and posted it online... this is just a small percent of the cars... http://www.summer.photosite.com/CABO/

 

Man, what do the parents of most of these kids do? ?

 

my dad is a principal at his real estate company,

a close girl friend of mine...her dad is the most hated man in baseball (hint hint).

my friend who gets new cars more than often, his dad started LA fitness.

My friend who has 4 cars, his dad owns over 12 major companies including Fubu he just bought I believe, Revlon, Loreal...and the list goes on...

A friend who has a new range rover, his mom owns the stores that sell Fubu, Phat farm, Ecko and so on. They are in Long Beach, NY, LA, and so on... it is very very successful believe it or not

I guess those are the more notable ones, I can't remember all...

 

Cool. Most hated man in baseball? Lot of people come to mine (Bonds, Kenny Rogers, Pete Rose, Selig).

 

I know that my kids will not be driving new M3s at 21.

I drove a year old one at 24 that mom and dad had nothing to do with.

 

I'm 17, bought my Cavalier a year ago for $1500 with my own money. The car is a POS, but it opened my eyes. I realized just how much maintenance can be, how to take good care of it. I have a lot of self-satisfaction knowing I am paying and maintaining my own car, not like some of my friends who have brand new cars that they don't pay a dime for. I'll be a senior in HS next year, and I'm looking into getting a new car. It won't be anything special, I'm looking at used Focuses and cars for $6-7k. I can only do this because I got an internship paying good money and work a second job that also pays well. My dad and I also aren't sure the Cavilier will make it another year. It makes me feel really good that I'll be in high school and buying a new car for myself. I think this responsibility that I've gotten from paying for my own cars will definitely help me out later.
So to answer the original question, I would say only if they can buy it themselves.

 

****IN HATERS