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2010 2011 BMW 5 Series Forum F10 BMW 5-Series (F10) Forums General 5-Series Sedan and Wagon (F10 / F11) Forum Your Salary
View Poll Results: Your salary?
Under 50,000 13 9.29%
Between 50,000 - 100,000 34 24.29%
Between 100,000 - 150,000 37 26.43%
Between 150,000 - 200,000 11 7.86%
Between 200,000 - 300,000 19 13.57%
Over 300,000 26 18.57%
Voters: 140. You may not vote on this poll

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      06-30-2014, 08:03 PM   #1
slingxshot
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Your Salary

I am curious how poor the 5 series owners are these days are...
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      07-01-2014, 07:59 AM   #2
MoneyJ
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Salary is 152k a year. Annual bonus 30-40k/yr.
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      07-01-2014, 09:08 AM   #3
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2012 550xi  [10.00]
$999/month
No bonuses here
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      07-01-2014, 09:43 AM   #4
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I get max comp for my unemployment of $450 per week.
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      07-01-2014, 10:29 AM   #5
Grover432
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I get paid in bananas. Not sure how to convert that
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      07-01-2014, 10:29 AM   #6
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I earn minimum wage. Should I account for my sugar momma's salary?
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      07-01-2014, 12:42 PM   #7
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No one here gets paid in gum like I do?
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      07-01-2014, 12:43 PM   #8
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      07-01-2014, 10:38 PM   #9
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Please also post your credit score and what your credit limits are, along with what your mortgage is (since poor people cannot afford to buy houses outright).
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      07-02-2014, 07:16 AM   #10
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I usually get paid in 1s and 5s. I get 20s if I go back with a client in the VIP lounge (usually male).
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      07-02-2014, 11:29 AM   #11
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Quote:
Originally Posted by SouthernBoy View Post
I usually get paid in 1s and 5s. I get 20s if I go back with a client in the VIP lounge (usually male).
LOL!
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      07-02-2014, 12:39 PM   #12
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I usually get paid in 1s and 5s. I get 20s if I go back with a client in the VIP lounge (usually male).
+1
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      07-02-2014, 01:18 PM   #13
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Along with your annual salary, can you guys post your name, address, social security number and a credit card number to verify the information, thank you kindly.
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      07-02-2014, 01:35 PM   #14
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I'm a bit surprised at the percentage below $50k and below $100k - over 40% of those who have responded so far... granted, not statistically significant by any stretch of the imagination, but of this small sample still startling. I couldn't imagine buying a car this expensive with an income below $100k, no less below $50k (wow!) - your car could be worth more than your annual salary!

My own personal rule of thumb has been that a car shouldn't be worth more than 25%, or 30% absolute max, of my annual income. I say "personal" rule because everyone will have their own priorities, and I wanted to make sure I was prioritizing a home, retirement savings, college savings for children, etc (not important to everyone). While I love cars, they're much lower on the priority list than many other things in life. I can see younger people distorting this rule much more - where their car's MSRP is 50% of their salary, let's say... but then again, I tend to think of that crowd as buying 3ers not 5ers... maybe a misconception on my part.

Interesting results, though.
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      07-02-2014, 01:50 PM   #15
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ezmaass, by your own formula, that would mean you make more than $400,000 a year. That would also mean that someone working 40 a week at min wage should not buy a car that cost more than $3500. How does someone find a reliable new or used car for less than $3500?
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      07-02-2014, 02:51 PM   #16
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Quote:
Originally Posted by ezmaass View Post
I'm a bit surprised at the percentage below $50k and below $100k - over 40% of those who have responded so far... granted, not statistically significant by any stretch of the imagination, but of this small sample still startling. I couldn't imagine buying a car this expensive with an income below $100k, no less below $50k (wow!) - your car could be worth more than your annual salary!

My own personal rule of thumb has been that a car shouldn't be worth more than 25%, or 30% absolute max, of my annual income. I say "personal" rule because everyone will have their own priorities, and I wanted to make sure I was prioritizing a home, retirement savings, college savings for children, etc (not important to everyone). While I love cars, they're much lower on the priority list than many other things in life. I can see younger people distorting this rule much more - where their car's MSRP is 50% of their salary, let's say... but then again, I tend to think of that crowd as buying 3ers not 5ers... maybe a misconception on my part.

Interesting results, though.
bmw is known for their low lease rates. i probably wouldn't be driving a 5 series if i didnt get such a good deal on a lease.
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      07-02-2014, 02:54 PM   #17
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Quote:
Originally Posted by bkM3 View Post
bmw is known for their low lease rates. i probably wouldn't be driving a 5 series if i didnt get such a good deal on a lease.
'

What are you paying for your lease?

I got 610/m 36 months 30K miles for 0 down.
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      07-02-2014, 03:03 PM   #18
ezmaass
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Quote:
Originally Posted by The X Men View Post
ezmaass, by your own formula, that would mean you make more than $400,000 a year. That would also mean that someone working 40 a week at min wage should not buy a car that cost more than $3500. How does someone find a reliable new or used car for less than $3500?
I won't comment on my exact income, but I will say I'm "compliant" with my own rule of thumb.

As for a minimum wage worker, I see your point. Essentially, like all rules, once you get to the far extremes of the spectrum, you get outlying cases that call for exceptions to the rule. But to be quite honest, if I was making minimum wage, I'd be looking to purchase the absolute cheapest transportation that gets the job done reliably - maybe a $15k car that's 3 years old and now goes for $10k or so? I don't know. It's certainly a much more unique situation.

Like I said, I want to stress the word "personal" in the rule, though, since I think I'm way more fiscally conservative than a lot of people I know, and not everyone has the same priorities. I was just surprised to see how many people responded in the below $50k / $100k since an F10, no matter the model, is a pretty pricey vehicle... and, especially under $50k of income, one could be driving a car that costs more than their entire annual salary.
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      07-02-2014, 04:11 PM   #19
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Quote:
Originally Posted by Russkey View Post
$999/month
No bonuses here
Wow. I applaud the level of your auto enthusiasm.
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      07-02-2014, 04:16 PM   #20
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GTFOH
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      07-02-2014, 04:37 PM   #21
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I believe a car payment(s) should not be more than 10% of your gross annual income. Someone making $100k/yr should be able to afford a $800-$900/mo payment. Less than that should be looking at 3 series!!! If buying new of course...
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      07-02-2014, 05:10 PM   #22
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Everyone has their own priorities and financial situations. Some may be wealthy retirees with relatively small "incomes", others may be well off but choose to work for a low paying non-profit, while others may have received a windfall and paid cash for the car, and still others may place having a nice car near the top of their priority list and don't really care if they have a high car payment. Some may be single with no big commitments, others may have a family/mortgage and all of the commensurate financial obligations. There are no one-size-fits-all rules. Just be responsible and enjoy your life
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