Unlike past new car purchases where it was a “is it time for a new car or not?”, I knew my lease end on my 2016 BMW 228i xDrive was approaching in July. Although I could always drive the GLK if I didn’t have something by then, let’s be honest, I’m always thinking about my next car and more or less had my mind made up for this next COAL long ago.
When you find a brand whose qualities you love, one that feels so natural, and one you’re deeply passionate about, you stick with it. After exploring the alternatives, I decided to stick with my beloved BMW and special order a very high-spec 2019 330i xDrive with the intent it would arrive right around the time my lease was up… until I saw this…
As it turns out, the lease on my $57K 330i build was going to be just a bit more than I expected even with my former dealer of work selling it to me below invoice, and to be completely honest, I still had doubts about becoming a 3 Series driver. The new 3 does everything it’s expected to nearly perfectly, don’t get me wrong. Yet there still was something about that car that seemed a bit too mature and grown up for my tastes, and I was struggling to find that emotional connection to it that I had for my 2 Series. I desperately wanted another coupe, and it just so happens I came across this 2019 430i xDrive coupe with M Sport, adaptive M suspension, and Coral Red Dakota Leather!
Isn’t a 4 Series more expensive to lease you might ask? Indeed a brand new one is, but for those who aren’t aware, former service loaners with just a few thousand miles and a few months of use can be leased, and will always lease out for significantly less than they were brand new. In this case, I was getting a nearly new 2019 430 with 4,400 miles on it for over $12K off its $56K MSRP.
At $499/month including tax, it was going to be almost $150 less per month than the 330 lease would have been, and only $100 more than what I was paying for my 228 ($399/month) – a car that was much less expensive to begin with and one that was a Center Employee Lease I had put much more money down on plus multiple security deposits. In fact I simply took my multiple security deposits from that lease and applied it as my cap cost reduction (down payment) for this lease, so I really wasn’t paying any new money out of pocket towards this 430 lease. Free from paying $300 for my half of the 540’s lease every month, I am saving $200 each month on car payment(s) from here on out. To make a long story short, this 430 was just a better value than the new 330 and it was a car I instantly found that emotional connection to!
Sure, the 4 Series, now in its sixth model year, is beginning to show its age, especially with newer G Series cars like the 3 Series, 5 Series, X3/X4, X5, and X7 all in showrooms next to it. Nevertheless, while it may lack their more sophisticated interiors and technology, the F32 4 Series makes up in its joyous driving experience, outgoing personality, and seductive styling.
Over the years, I’ve had the good fortune of getting to sample the 4 Series in every engine and each of its three body styles offered, and regardless of flavor, it’s always been one of my favorite modern cars to drive. Versus cars like the new 2019 3 Series, which feel more serious and controlled, the 4 Series chassis has a lot more play to it, something aided by wide track, low center of gravity, long wheelbase, and near-perfect 50/50 weight distribution.
BMWs of course have always been best known for their handling characteristics over just sheer power, and this 4 Series upholds that reputation. Steering from its thick Nappa leather-wrapped M Sport steering wheel is delightfully heavy, providing generous feedback for in-tune and confident maneuvering. I’ve driven plenty of 4 Series with the standard suspension, which is more than adequate, but my car features the optional adaptive M suspension. Adding air cushioning on the rear axle and Dynamic Damper Control, which automatically adjusts each damper in real time, it incredibly transforms the 430 from feeling sporty to pretty darn close to an M car, minus the extra power.
In terms of power, however, the 430i’s 2.0-liter twinpower turbo I4’s posted 248 horsepower and 258 lb-ft torque delivers delightfully impressive acceleration and cruising speed, not to mention symphonically forte engine and exhaust notes. Seriously, from the driver’s seat it feels just as quick as BMW’s inline-6 440, but with more high-revving fun. Furthermore, to be completely honest, I actually prefer these rev-happy BMW turbo-I4 engines over their more effortless turbo-I6 counterparts.
Despite making 7 less horsepower and 37 fewer lb-ft torque than in the 2019 330, the 430’s peak horsepower and torque come in at higher RPMs, and its 8-speed Steptronic is geared to higher ratios. This all makes for a very rev-happy and entertaining driving experience, and a 0.1 second advantage in its 0-60 time of 5.5 seconds (RWD/AWD 430 vs RWD 330; the AWD 330 has a 0.2 second advantage).
In more ways than one, the 4 Series feels a lot like the 2 Series I’m coming out of, and that’s an incredibly good thing. Two things I tremendously like about BMW interiors are their consistency and user-friendliness. Everything is in easy reach and clear view, with multiple ways of executing most basic functions depending on the driver’s preference.
Critics often pan BMW for lack of exciting interiors and relatively little variance of interior design between models versus more highly-styled interiors of competitors such as Lexus and Mercedes-Benz. Yet personally, I favor function over form when it comes to my car interior. Good ergonomics, logical controls, and ease of use are more important than sheer style, and I’ve always loved that I can get into any BMW, from X1 to 8 Series, and instantly know how to use everything. There’s definitely something to be said about familiarity.
Familiarity is a major reason why I’m so happy with my choice in the 4 Series coupe. It’s everything that I had and loved in my 2 Series coupe, with a few more features and a whole lot more substance. Despite its age, the 4 Series’ design has held up incredibly well. The 2 Series is a great looking car, but proportionally, it’s roofline is a bit tall and its rear quite narrow (excluding the M2 of course).
The 4 Series, meanwhile, is longer, lower, and wider, especially at the rear where its hips are particularly voluptuous. With more sheet metal to sculpt, designers were able to give it a more athletic look than its 3 Series sedan counterpart and baby brother 2 Series coupe. Visually, the M Sport package on my car adds more aggressive side skirts and front/rear bumpers with extended lower trim for a more muscular and overall more complete look. Seriously, that ass though 🙂
Feature-wise, the 4 Series already comes quite generously equipped in standard spec, and my 430 adds a few extra options. Items such as navigation, LED headlights and taillights, 10-way power adjustable heated front seats with manual thigh cushion adjustment, comfort access keyless entry, blind spot monitoring, and rain sensing wipers are all standard. Very thoughtfully added arms push the front seat belts forward when you get in for easier reach. Mine of course also has the M Sport package with the aforementioned exterior enhancements, plus different wheels and that extra thick M Sport steering wheel that alone is enough to make me want to add M Sport to any BMW.
My 430 also adds the requisite for New England heated steering wheel, plus head-up display. Had I ordered this car, I would have forgone head-up display for the 16-speaker Harman-Kardon surround sound. After a few days of driving though, I’ve concluded that the standard 9-speaker sound system (which still uses H-K speakers) actually bumps pretty damn fine, and I’ve come to appreciate head-up display more so than in the 540. Just like in the 228, my ideal seating/steering wheel position obscures the top of the speedometer from my sight lines, so if anything, it is beneficial to see my exact speed projected onto the windshield.
All in all, I know in my heart that I made the right choice this 2019 BMW 430i xDrive, whom I’ve already named Brigitte. Less than two weeks in, I can’t express how much I’m already in love with her! The steering is so heavy, the suspension so taut… it’s given me a whole new level of driving enjoyment! It wasn’t the car I expected to replace Heidi, my 2016 228i xDrive with, but when the right car comes along, you just know!
Apart from the very last, Photographed at Hingham Harbor in Hingham, Massachusetts – May 2019
I think you exaggerate the easiness of finding the controls in _any_ BMW … have you driven an early 1602 or 2002 with the right side turn signal stalk? Just giving you a hard time 😀 This is a beautiful car and I like the color. One question, I assume your personalized plate refers to the nineties as a decade, but what’s the IC mean?
They’re the MA Cape Cod & Islands plates, but beyond that, I didn’t personalize them. They just happened to be on the top of the pile at the registry when I selected Cape & Islands.
“IC” stands for Islands Cape… they originally used to be more logically “CI”, but with only 4 additional digits, they ran out of possible combinations, so switched to starting with “IC” for all new plates a few years back.
Thanks.
You certainly didn’t buy a car, Brendan. You are renting it.
Are you implying that there is something wrong with leasing?
Buying makes sense for some, leasing for others, Zipcar and/or subscription services for others. Personally, I like having a lower monthly payment, getting a new car every 3 years, being fully covered by the manufacturer’s warranty and service plans, and not having to worry about someone hitting my car and paying dearly for their fault when I go to trade my car in and it has a bad Carfax.
The fact of the matter is, if I purchased cars instead, I’d still be trading out of them every 3 years or so, and that ultimately amounts to significantly greater cost than just leasing. To each and their own… Isn’t it great that we have freedom of choice?
Me thinks he’s referring to your headline.
Very nice!
BTW, this was a service loaner?
Yeah, hard to believe. Usually service loaners are your basic silver or grey with black interior and few options.
While I am neither a “white car guy” nor a “BMW guy”, I will say that I see some of what you see in this car.
The red leather with the white paint is a sharp combination. And I like the shape of this one as well.
I know I show my age when I hesitate to embrace a BMW with a turbo 4 and an automatic (or a $50k car with a $400 lease payment), but perhaps I am just not living in 2019’s world of upper priced cars. Actually, I know I am not. But that said, you have made your decision, so it is time for you to enjoy it. The LeRam 3500 will always be there in three years. 🙂
Nice. I approve of white. And the red! 🙂
Not to be critical, and I’m sure it’s plenty fast enough for most folks, but 248hp seems a bit modest for 2019 and a $56k MSRP. Just don’t get into a race with a Tesla Model 3! Even a Camry V6 will give it a run for its money. 🙂
Although this figure is comparable to the turbo I4s of its competitors, BMW underrates their engines anyway. Regardless, the I4 is all I need for my daily driving in the cop-infested 35 MPH speed limit suburbs.
I’ve experienced more power in the turbo I6 that’s in the 540, and frankly, it’s nice but I feel like I’m only using a small percentage of its actual power for most driving. The I4 gets it up to speed plenty quick on the highway, within a second of the I6, and still feels smooth and capable the few times I’ve surpassed 110 on the highway 🙂
Yes Brendan thats the reality of every day driving, speed limits, I can get plenty of speeding fines with a 4 cylinder diesel it has adequate power and actually more than can be used in traffic, I like the interior colour of your car Ive owned a couple of cars with red interiors though I prefer cloth to cow hide, nice car.
A V6 Camry should smoke it in a straight line. 53 additional horsepower and a 25% better power/weight ratio – 11.86 vs. 14.94.
Somehow I don’t think the Camry holds the cachet Brendan seeks. Nothing wrong with that.
The red leather is beautiful. Although it operates on a completely different plane, in 2013 I searched and landed an Outback with the Special Appearance Package, which has brown leather and a few other visual changes (darker headlights, door handle trim, darker wheels) that to me completely enhanced the look of the car. I believe it is now the Touring level of trim.
It’s the small things that count.
Congrats and nice ride!
Yeah but a Camry is still just a Camry – a slug that puts its drivers instantly to sleep, whereas the 4 with the sport suspension and seats is pretty freakin exhilirating. Just sayin.
Nice car! Good lease deal.
BMW has so many models now, it’s hard for them to differentiate any model as a recognizable one. Surprisingly, the interior looks strikingly similar in layout to my 2002 e46 325 Ci.
With those new BMW’s so full of electronics and gizmos prone to failure, I’ll hang on to my e46 as long is I can keep getting in and out of it at “over 70”.
Like the RED!!!!
Nice looking car. Two doors mean you can see over your shoulder when doing shoulder checks too.
Dollars per HP seems about the same as my VW, but old school me still thinks that a BMW should be a manual transmission. But I think that about Ferrari too, and they don’t listen to me either 🙂
Enjoy the car, and good luck with the future house.
Beautiful! Good luck and enjoy. Gotta respect a man who likes a red interior and has shoes to match!
😉
You got the car in the only way it makes sense to get a BMW………….lease it. I would not pay cash for a new Bimmer once the warranty dies……….so does your wallet. i’ve owned 3,including my 01 330xi that i currently own. They are very reliable cars(had an 05 and an 09 325)but the electronics suck. I had to buy a daily driver to keep my daily driver…..lol!! i bought a 98 ford escort se and daily drive to work and use the Bimmer for weekends.
56K? For a 4 cylinder with 248 hp, bad reliability and no resale value?
According to the apparent lease terms it appears to have around $41k of resale value three years from now, in any case that wouldn’t be Brendan’s problem. I’m pretty sure anything that were to go wrong or wear out is also covered during that time frame…
Nice Car Brendan! The color combination is great and lines on that car are very attractive. I really like these 4 series coupes (and the 6 series coupes too!). But then again, I prefer 2-doors cars to their 4-door counterparts in just about every car except for a ’67 Polara. This is also a nice step-up from the 228, so congrats on your choice.
I suppose you aren’t worried about not reppin’ the product at your new employer? While I know BMW is your first love, that deal you mentioned on that Range Rover Evoque sounded pretty sweet too.
But personally, I think you made the better choice. Again, what a nice car!
Well, my guess of an Alfa Giulia or an Evoque was off!
Your deal is a like the one I did for my Alfa – OK, i purchased rather than leased but they are both cars that have that important emotional tug to go with a financially compelling offer – mine was 11 months old, 110 miles and 60% of list with a new battery, spec’d pretty close to how I’d have done it.
Whilst I don’t personally go for white, the shape is great and that interior is stunning.
Enjoy – I think you will!
It’s beautiful, the red interior makes all the difference (as it does most places it’s offered). I hope you have many years (ok, 3) of happy memories and spirited drives in it and look forward to your next one as you are finally closing in on the Official Jim Klein Approved Vehicle Replacement Plan Timing Policy. Who says today’s youth doesn’t learn from their elders? 🙂
But seriously, it’s beautiful, I’m sure it smells wonderful inside and it makes you a happy guy driving it. Congratulations!
Jim Klein Approved Vehicle Replacement Plan Timing Policy – I love it!!!
Congrats, and that is a classic color combination. White is underrated, IMO.
Well congrats.
The only thing that would bother me is is the infotainment screen. I don’t like how it sticks out of the dash. I may be used to the one in my car where it is a part of the dash.
Does it retract? The rest of the dash (especially the climate controls) give it a retro look and they are physical buttons. unlike a lot of cars which are going to a heat sense button.
I hope this car gives you the same reliability and good driving vibes as the last one
BMW kept you!! Congrats on the new car. Love the red interior–that really sets it apart from the crowd. Soooooo, one question, what was your second choice? Was I close on my Audi guess?
Technically I’d say the new 3 Series was my second choice, but had it not been a BMW, it would have been the Audi A4. I was really quite smitten with that vehicle. Had it been the A4, I would have had to find a 2019 out there on the lot… the 2020 facelift is doing away with the center console rotary control and moving to 100% touchscreen 🙁
I understand BMW love, I just wish I felt it as strongly as I used too lol. I’ve been surprisingly smitten with certain Audi products, and also Alfa Romeo, which have both taken some aspects of BMW’s traditional core strengths and developed very competitive offerings (depending on what you are looking for).
I couldn’t agree more about the touchscreens. Here’s a link to an interesting article from Fast Company about fundamental issues with automotive touchscreens:
3 reasons why Tesla’s dashboard touch screens suck https://www.fastcompany.com/90356020/3-reasons-why-teslas-dashboard-touch-screens-suck
It’s a very thoughtful take that articulates a lot of the issues around this now-dominant approach to center stack controls. While the main focus is Tesla (logical since it is the most touchscreen-centric of all brands), the findings would apply to any of the systems on the market today.
It’s interesting Audi is doing away with the rotary dial because I swear I heard another automaker or two (was Mazda one of them?) was getting rid of the touch functionality of the screen. I remember a recent review saying, “It’s so strange using Apple CarPlay without being able to touch the screen!”
What a nice car! I dig the color combo, it impressed me for the first time years ago, seen on my aunt’s Lexus IS cabrio. The contrast is splendid. Would go for a similar combo if possible.
At first I didn’t like these F30 Bimmers. But then three of my cousins purchased a red F30, grey F31 wagon and a black F36 4 GranCoupe respectively, all equipped with the 2 liter diesel engine. And I got to ride in them. Michal, the owner of red sedan, even offered me to drive it, when grabbing lunch (I was only 17, with a learners’ permit!). That day, I left my wallet at home, and it meant no present drivers’ license. I chickened out. Still, it was a nice ride and the head-up display was the thing I liked most. Other thing I started to like was the BMW font, used on the gauges, don’t know why.
I haven’t sat in a BMW for quite a while, but the font used to be Univers. It may still be.
Congrats! Some say white is a boring color but I disagree, and on the BMW it looks fantastic. And that interior is excellent! I hope it serves you well.
The interior looks fantastic. Nice to see one can still buy a vehicle with colour inside.
Nice choice, Brendan…that color combination is striking! I just returned a leased 2016 428i coupe in February. It was my favorite car to date. My local BMW dealership refused to play ball on a 2019 430i coupe to replace it, however. Their arrogance toward what would have been a four-time repeat customer cost them the sale.
A trip to an Alfa Romeo dealership just down the street caused me to bring home a new Giulia (complete in what I call “prostitute red”). It’s easily the most flamboyant car I’ve ever owned, quirks and all. It drives like the “good old days” of BMW, but the jury is still out on how reliable it will be. Thankfully, I won’t have it beyond the warranty. But man…it has loads of personality!
A red Alfa? Good call!
PS – do they come in other colours?
No…not in my heart, anyway.
Inspired choice, Brendan. Congrats! And I wholeheartedly agree with your post’s headline admonition. Now, get out and drive that beautiful new Bimmer!
BMW automobiles should be white and BMW motorcycles should be black.
I had no doubt a BMW would reside in the driveway. Once you step into them, it’s hard to leave that familiarity.
Everything about them are just right.
And like you said, you own one and get whacked by another idiot on the road, you are paying for it, eff that crap in a big way. Rule of thumb people, get into a wreck , if not totaled, fix it trade it ASAP… before it hits CarFax. Usually gets processed in under 6 weeks from accident date. Lease it, just make sure it’s fixed correctly, that is it.
Leasing is renting.. and it’s a brilliant way to spend your money on a high end machine.
Screw owning one of these after the warranty. If it’s a old one, different story, but modernish BMW’s are ruthless killers of the wallet.
Love the Sport package, color scheme. Enjoy it! YOLO.
Hingham waterfront looking shabby these days.. best get some shots up in Scituate 😎
Haha Hingham and Scituate are both scenic spots I frequently visit! Some great bars in both!
Nice car Brendan, the color and options make this quite a bit more appealing than the volume-spec F30 sedan I didn’t get along with. Sharp Bimmer, I like it.
The revised article title suggests a reaction to other’s opinions and I hope that’s not the case. The only opinion that matters is your own and there’s nothing wrong with leasing expensive cars into perpetuity if that’s what you want to do with your own money. However, that title isn’t going to resonate with those who have sacrificed personal spending in order to raise a family or build equity or donate to a cause.
I’ll be honest in saying the title reflects a few others’ opinions to a small degree, but it’s largely just my general feeling regarding what I choose to drive. As I titled my 228 COAL a few years back, “There’s no point in living if you can’t feel alive”. I work hard, make a fairly good salary, and my partner and I have already decided we don’t want kids. I may splurge a bit on my car but I love driving a car that gives me enjoyment and have no shame. It’s troubling that some like to criticize the lifestyle choices of others but that’s just the world we live in.
I’m not usually a fan of white cars, but that wonderful interior makes this an exception. Thinking about it, that combo reminds me of the original ’53 Corvettes.
Leasing a BMW or any other premium European car brand is the only way to go if you absolutely have to have one. Why? because you’ve got a warranty. Outright purchasing one of these vehicles and keeping it after its warranty expires can lead to unexpected unhappiness to depleted finances. Even if you’ve got a great, honest independent mechanic, the repair costs can make you shed a tear or two. I worked with a fellow who thought he got the “deal of a lifetime” when he purchased a used 2010 BMW 650i for “only” $35K at a local Honda dealer’s used car lot. That is until a year later the check engine light illuminated and resulted in $7,000 in repairs to the car’s emission system. I know of another guy who bought a used 2007 Bentley Continental for an”amazingly low price” only to have his check engine light come on. He said a Bentley Rolls dealer wanted $15,000! Yes, $15,000 to pull the engine and replace a cracked emissions hose. So, if you gotta have one of these high end euro cars then by all means lease it and then return it after the lease is up. Don’t own one unless you’ve got the kind of income Steve Jobs had!
Love it. Got driven around in a 7 series with the red leather interior recently and it totally won me over. Enjoy your new car!
WHAT ?!? No shade of tan whatsoever in a Saur car?
Never mind, this combination is just as excellent. Congratulations and enjoy it!
Haha had I ordered a new 330, it would have been Black over Cognac! But the Coral Red just spoke to my wilder side!
Of course, Brendan really wanted this…https://www.carmagazine.co.uk/features/car-culture/bmw-garmisch/
The Garmisch tribute is so incredibly sexy!!!
Life’s Too Short Not To Drive What Brings You Happiness?
I’ve had an old horse, a used Dutch bicycle, and a $200 1964 Plymouth Valiant do that for me. Actually, every horse, bicycle, car and truck has done that for me.
How?
Because happiness isn’t what you drive – it is where you go and who you are with.
The worst car with the right woman, still brings happiness because there is so much you can do between break-downs.
I don’t know, I’d rather just have a nice, reliable car and a nice, reliable partner. Why can’t you have both?
But at least with a new BMW I’m not left having to clean up horse manure 😉
Seriously, I’m blessed to have that person in my life who makes every day and every drive worth living 🙂
Brendan, congratulations on achieving fulfillment in both areas. I always have a sense that you are grateful for everything you have in life.
Human happiness/life fulfillment is complicated. Abraham Maslow gave it careful thought back in the 1940’s and came up with the Hierarchy of Needs. Today most people agree that the categories overlap at various times rather than constitute a straight path to the top. I think your BMW fits nicely in the blue band of esteem: prestige and feeling of accomplishment.
Having worked at a BMW dealership, do you have any insight on how the dealerships pick which vehicles get to be loaners?
I ask because it seems like they normally go for the mainstream stuff: the X2, X3, X5, 3 Series and 5 Series. This is an interesting candidate. Maybe they were saving it for M3/M4 drivers?
I wish I could lease, but I drive *wayyyy* too much for it to be cost-effective. I’ve had my current car for 10 months and am going on 25,000 miles.
I wish I could lease as well, but I put 30,000 miles a year on my car! Just got a 2019 Honda Insight at the end of January 2019, now has over 10,000 miles on it ☹️
It’s honestly usually just aging vehicles from inventory that dealers can punch into loaner service and count as a “sale” at the end of the month. Usually it is more vanilla vehicles but sometimes it’s actually a special spec. I remember at MINI when we had a $45k Clubman with Indigo Blue leather and head-up display in loaner service.
The BMW coupes are Seductively beautiful cars….I had an E46, 325Ci and I loved the looks. I moved to a Z4 coupe in 2007, black with red inerior…The red is what sold me the car.
I have to disagree with you on engines. My Z4 has the inline 6 and I had an X3 with the turbo far, albeit the 240hp last generation and there is no comparison with smoothness and sound between the two
Hi,
I’d like to ask a sociological question in that it is not directly directed at Brendan nor at Kyree S.Williams but it came to mind after reading their recent COALs
What is it with young American lads, one in Massachusetts and the other in Oklahoma, that they feel it is a good idea to buy expensive new( ish) cars when they are only starting out in life and don’t own property or their own homes and have very little stake in society so far?
I feel I should tell you a little about myself to put the query in context. I am 52, live in Ireland, own my own home, have good holidays (vacations), have 4 kids that I am in the process of educating, have travelled the world, but have never had a new car, have not had a car loan in 20 years,and have never spent more than €18000 on a car.
I would be interested in the comments on this and reiterate that I am not “having a go” at the lads but am just asking. If one of my kids bought a car like these guys have done I am sure I would be having a sit down with them about cutting your cloth to your measure and financial prudence.
Thanks guys, I’d love to hear the comments
Richard
It’s not a new phenomenon. When my father was a young man in 1962, he spent everything he had to buy a Corvette, even though he was still living with his family at the time.
He’s in his 80s now, but I never got the sense that he regretted buying his Corvette. Incidentally, I’ve never had the inclination to do the same.
Hi Richard.
I appreciate your perspective and values. A few thoughts and insight:
I have no idea what the housing market is like in your area of Ireland, but where I live here in the greater Boston area is one of the most expensive real estate markets in the United States.
Where as in many parts of the U.S., such as Texas, $200,000 get’s you a 4-bedroom, 3-bathroom, 2,500-square foot home, here in the greater Boston area, $200,000 won’t even get you a 400-square foot basement studio apartment in Boston or a 2-bedroom, 1-bathroom, 1,000-square foot home in one of its suburbs.
Apartment rentals are just as comparatively expensive here. Even in the suburbs, I should expect to pay close to $2,000/month on a decent 1- or 2-bedroom apartment.
I currently live at “home” with my mother because it’s convenient – not because I cannot afford to move out. It’s just me and her, and we’re very close. I have no siblings, she has no significant other, and she is starting to get up in age. More than anything, from an emotional standpoint, it’s good for her that I’ve stuck around.
Financially, I could move out right now if I wanted to, but I’d like to save a bit more and be able to buy a larger house in my ideal town.
I should add that leasing a car such as this BMW 4 Series is not outside of my financial means in any way. I’m fortunate to make a very comfortable annual salary that has allowed me to accumulate a substantial amount in savings – a portion of which I intend to use towards my first home purchase – all the while well paying for my car.
I also think that many readers, possibly yourself included, are under the impression that I’m paying significantly more for my car than I am, and significantly more so than I would pay for a more modest car. In reality, what I will pay for this car over the course of one year is only a little more than 6% of my annual salary. I think this is very important to make clear, as it still allows me to take a substantial portion of every paycheck and put right into my savings account, which I do not touch and let accumulate interest.
Furthermore, if I leased a more modest vehicle, such as a Honda Accord, it would only be about $150/month less, which is not significant enough for me personally to justify driving a vehicle that brings me so much less enjoyment. Additionally, because so many people seem to view leasing as immorally wrong, if I were to finance that same Honda Accord, my monthly payment would be more than I pay to lease this BMW 4 Series.
In summary, I hope this helps shed some more insight on my lifestyle and financial health. I may choose to drive a premium car, but it’s something I can afford to do – all while still being able to take several vacations per year, dine at fine restaurants, buy clothing and other goods I want, etc. AND still save a substantial amount each year.
I am very proud of my career success at this stage in my life. I work very hard, make a respectable income, and am very grateful it has allowed me to enjoy life to the fullest within my means. I’m proud to say I’ve found an ideal balance between “treating myself” and building my future.
The median income in Ireland in 2018 was 38,878 euros.
The median income in the US in 2018 was $61,372
The difference between these numbers was undoubtedly significantly greater when you were a young chap.
These cars Brendan and Kyree are buying aren’t really expensive. Brendan’s lease is $500 month. I was paying close to that for loan payments on our first new car, a 1985 Jeep Cherokee, thanks to 14% interest rates. That $500 then would be well over $1000 today.
They both are single, don’t have kids, and obviously have fairly well-paying jobs. So what seems expensive and extravagant to you isn’t really. Of course if they had 4 kids (god forbid!) and were supporting the whole family and paying for housing, things would undoubtedly be different.
Cars like this are extremely common with single young adults that have a decent job and are not saddled with debt or high housing costs.
America has always been more affluent. Look at the pictures form the 60s and see how many young men bought brand new nice cars after getting a job or coming out of the military. A Camaro in 1969 is very comparable to a BMW 433 today. In terms of affordability (% of income) the BMW is undoubtedly cheaper (being leased, of course, even more so).
Thank you to Brendan and Paul for taking the time to reply.
I understand it more now and can see the other perspective. Apart from the general affluence level difference which applies now and influences such decisions I am also operating on the basis of my own perspectives / paradigms which were set in the late 80s when the differences were even greater.
Now that I think of it many twentysomethings in Ireland buy new on PCP (personal contract plan) and it seems to work well for them. I guess I am just a bit more conservative than they are.
Perhaps it is time for me to splurge a little myself. Brendan’s point about saving a small amount for considerably less enjoyment might be something to apply in my own life.
On the other hand I am quite the outlier anyway as I drive a Citroen C6 from 2007 (currently having its Aisin Warner gearbox rebuilt) and get more fun from this €1000 car which is soon to be a €5000 one now that I am resolving its issues.