First world problem - to buy car or watch?

[Kingair]

This is a real first world problem . . . .

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[WristEnvy]

Get a COE and buy the car in Singapore.

Just kidding, get the blnr!

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[Tritto]

Let's not pretend this is a rational decision - neither purchase is rational when you consider you already have a nice watch and a nice car. Buying the watch is the least irrational though. The watch costs less up front, will depreciate less, and will be easily portable to your new country. However, since the point of making irrational purchases of superfluous luxury items is to make you happy - do whatever makes you most happy.


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[Starwalker]

Originally Posted by Tritto

Let's not pretend this is a rational decision - neither purchase is rational when you consider you already have a nice watch and a nice car. Buying the watch is the least irrational though. The watch costs less up front, will depreciate less, and will be easily portable to your new country. However, since the point of making irrational purchases of superfluous luxury items is to make you happy - do whatever makes you most happy.


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x2

[james1787]

I'd say get the watch. You only have a year left before you move, why buy the BMW.. likely take a huge depreciation hit and have to get rid of it in a year and then be further away from a Rolex? You have a nice car already that you enjoy... get the watch.

[Relyt]

Get the watch, if you get married; elope and go to Vegas. You have a great car now. In the future you may become a BLNR watch guy only so you can sell the other two watches for another car.

Or flip the watches you have, get a watch and a car. Elope in Vegas and marry a woman who has a house. Problem solved.


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[1William]

Get the watch. It does not make since to buy the car and then leave the country in 1-2 years. You will take a major hit on the car.

[BBL]

Originally Posted by Ticknaway

Buy neither save your money and invest it you're 27 with plenty of time to purchase both at some time in the future. Take advantage of the time value of money, save now so you won't have to work as hard in the future.

Originally Posted by Mosbrook

+1
Save now for property that will appreciated. Put disposable income toward luxury goods later. You're still young. Take advantage of it.

Originally Posted by Pix

Save the money.

Originally Posted by Invictus Maneo

Nailed it right there. It may not be the "fun" option but it is definitely the smart one.

Originally Posted by GB-man

I'd put it towards the wedding and house. I'm just a few years ahead of you and I've had to cut back luxury expenses for the wedding and some renovations on my property. If I lived in California I would let you drive my m3 all day to get it out of your system

Originally Posted by Kingair

This is a real first world problem . . . .

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27.....Save your money. With a wedding coming up, are luxury items for yourself so important? Have you started a budget for the wedding and your home?
Be wise, have a strong financial position going into your future.

[James K]

Just a regular 3 series???.........Save the money. If you HAVE to have it then just lease it for two years. That way someone else is paying 1/2 the depreciation and capitalized costs. I'm not that much older than you and I love cars, just not enough to blindly buy one knowing that I'm leaving in two years.

[77T]

If your finances are such that this is an either/or decision, then I vote neither.
That's due to the impression you are living on cash flow that could not support a new watch, a new car, a new spouse, a new house and then the higher expense levels of a new country to live in.
Just my 2¢ - but u may have a slight touch of "consumerflu"...combined with possible FOMO complication.


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[BBL]

Originally Posted by 77T

If your finances are such that this is an either/or decision, then I vote neither.
That's due to the impression you are living on cash flow that could not support a new watch, a new car, a new spouse, a new house and then the higher expense levels of a new country to live in.
Just my 2¢ - but u may have a slight touch of "consumerflu"...combined with possible FOMO complication.


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Imperio---Echoing "be wise", map out your financial plan on a big piece of paper with a line down the middle - pros/cons....
If you save and are smart with your money, you will save yourself a lot of heartache throughout your life.
.....
And, Good, Paul!!

[axjimenez]

Watch all the way

[ronin_ph]

Always amused by the 'first world problems' phrase as most things (things that I like at least) are less expensive there.
In the third/developing world you'll have access to multiple cars and multiple drivers when you don't want to drive.
If you're going on a full expat package, assume the company will buy the car(s) for you.
In short, get the watch.


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[Tdmong]

I'm interested to see if the responses would be different if you posted that question on a BMW forum.

My vote is watch! But definitely save for wedding and house. Cars are only good for short term happiness.

[imperio]

Thanks all for the replies; I read each and every single one of them. I am still amazed that I have yet to get a solid car vote.

I also appreciate the advice that brings me back down to earth in terms of how I should be spending my money.

More background - when I started work a few years back, I scrimped and saved every last penny for the future/house/kids/retirement and looked to invest in everything I had the risk appetite for. Then one day someone I grew up with passed away in a freak accident, someone who had, like me, worked hard his entire life up to that point in time and who had the same financial goals I did back then.

That got me thinking about what I was doing with my money and what should happen if it had been me who had passed on. I believe in delayed gratification but how long does one deny his or herself pleasure for? There is no correct measure of time - you just hold out for as long as you can and try to stay alive till it's time to reap your rewards. So these days I spend and enjoy life a little to the extent I feel comfortable. Some days I'm all YOLO and other days I need a reminder to save for the future, lest I don't die tomorrow. Much like what some of the responses have been - so thank you.


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[GB-man]

Originally Posted by imperio

Thanks all for the replies; I read each and every single one of them. I am still amazed that I have yet to get a solid car vote.

I also appreciate the advice that brings me back down to earth in terms of how I should be spending my money.

More background - when I started work a few years back, I scrimped and saved every last penny for the future/house/kids/retirement and looked to invest in everything I had the risk appetite for. Then one day someone I grew up with passed away in a freak accident, someone who had, like me, worked hard his entire life up to that point in time and who had the same financial goals I did back then.

That got me thinking about what I was doing with my money and what should happen if it had been me who had passed on. I believe in delayed gratification but how long does one deny his or herself pleasure for? There is no correct measure of time - you just hold out for as long as you can and try to stay alive till it's time to reap your rewards. So these days I spend and enjoy life a little to the extent I feel comfortable. Some days I'm all YOLO and other days I need a reminder to save for the future, lest I don't die tomorrow. Much like what some of the responses have been - so thank you.


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I know exactly how you feel. Let us know what you decide either way

[pacific17]

Originally Posted by imperio

Thanks all for the replies; I read each and every single one of them. I am still amazed that I have yet to get a solid car vote.

I also appreciate the advice that brings me back down to earth in terms of how I should be spending my money.

More background - when I started work a few years back, I scrimped and saved every last penny for the future/house/kids/retirement and looked to invest in everything I had the risk appetite for. Then one day someone I grew up with passed away in a freak accident, someone who had, like me, worked hard his entire life up to that point in time and who had the same financial goals I did back then.

That got me thinking about what I was doing with my money and what should happen if it had been me who had passed on. I believe in delayed gratification but how long does one deny his or herself pleasure for? There is no correct measure of time - you just hold out for as long as you can and try to stay alive till it's time to reap your rewards. So these days I spend and enjoy life a little to the extent I feel comfortable. Some days I'm all YOLO and other days I need a reminder to save for the future, lest I don't die tomorrow. Much like what some of the responses have been - so thank you.


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totally agree. I am still having difficulty with saving everything then spend it when you retire.. I mean, sure, you have all the time now but will you have the energy? you are not in your 30's or 40's and will be able to chug all the wine you want then not regret it the day after.. what im saying is, enjoy life now but dont forget to put some aside. life is too short.

back to your question, I have been wanting a BMW for quite a while now, a e46 M3 to be exact, a high revving straight six engine with individual throttle bodies. I just cant pull the trigger because of the depreciation. But if you can live with the depreciation in value I say, go for it. I think one watch is enough but then again, I dont practice what I preach... HAHAHAHA. hope that helps.

[Ruud Van Driver]

Originally Posted by imperio

Thanks all for the replies; I read each and every single one of them. I am still amazed that I have yet to get a solid car vote.


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And that in itself really ought to be setting off a mahooosive alarm bell in your head.

If you're hell bent on getting the car, then chop your TT in for a two year old one. You'll pay a lot less for it and recover more of your outlay when you move overseas.

Forget buying a car in Singapore. Public transport system here is probably one of the most efficient in the world and it's dirt cheap. Cars are treble the price of what they are at home in the UK because import tax is 100% and you also need a Certificate of Entitlement just to keep one in the road. There's also an Electronic Road Pricing system in operation. Trust me, you don't need a car here.

On the basis of the above, if the cash is burning a hole in your pocket then go for the BLNR. However, if you have a fiancée then your priority lies, or at it should at least, with wedding expenses and putting a roof over your heads.

Good luck

[T. Ferguson]

Originally Posted by Tri-Tip

If you have 1-2 years left in the States, you're going to lose several times the cost of the BLNR in depreciation on the BMW. If you take it to Australia (not sure about the other countries), you will have to pay to have it converted to RHD, I'm sure that's VERY expensive.

With the BLNR, hop on the plane and enjoy it wherever you go.

Audi TT isn't exactly a Yugo and DSSD isn't exactly a G-Shock. I would save the money for the Wedding and/or Home Purchase at this point.

Not to mention the watch would be owned outright while there would still be hefty monthly payment on the car. And if you end up selling the car when you move chances are you will be upside down in it and it will cost you even more when you sell it

[imperio]

To reiterate what I mentioned at the start, not that it might make a difference - financing is not an option. So I would not be buying a new car - probably a 3-4 year old 3 series that I can fully pay for with the proceeds from the sale of my current car plus whatever I have saved towards the BLNR. That is why some of the cars mentioned in the thread like a Cayman or a 5 series are out of the question. I don't believe in debt if I can help it. The only time I ever see myself taking a loan would be for a house.

The E46 M3 was my dream growing up as a teenager and I swore I would buy myself one as soon as I had the money to. However these days it's hard to find one in good condition and when I do, I'm could get a newer car for the same money.


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[mtrunner]

Originally Posted by imperio

To reiterate what I mentioned at the start, not that it might make a difference - financing is not an option. So I would not be buying a new car - probably a 3-4 year old 3 series that I can fully pay for with the proceeds from the sale of my current car plus whatever I have saved towards the BLNR. That is why some of the cars mentioned in the thread like a Cayman or a 5 series are out of the question. I don't believe in debt if I can help it. The only time I ever see myself taking a loan would be for a house.

The E46 M3 was my dream growing up as a teenager and I swore I would buy myself one as soon as I had the money to. However these days it's hard to find one in good condition and when I do, I'm could get a newer car for the same money.


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You just solidified it even more for the watch by mentioning a 3 - 4 year-old 3 series. Get the watch!

[brookish]

Audi over BMW for sure! AND you can get a new watch!

[carwash66]

Even though you would be buying a used car, the depreciation hit that you will take would go a long way towards the cost of the watch. If that type of financial hit is worth it to have the car for a year or so, then get the car. Good luck either way!

[James K]

You're being completely irrational and you know it. A 3-4 year old car and giving up one you already have?? You cannot afford it and doing so is just going to set you back financially worse than where you are now.

Some people have to learn the hard way so go ahead and buy the car so we can all get our "I told you so's" in and you can learn the hard way. There's absolutely no material possession out there that's worth more than piece of mind. That's not responsible behavior especially considering your going to possibly have a spouse.

[Malak]

Originally Posted by swils8610

The BLNR will hold its value. The car will not.

+1

[threemonkeys]

Originally Posted by Ticknaway

Buy neither save your money and invest it you're 27 with plenty of time to purchase both at some time in the future. Take advantage of the time value of money, save now so you won't have to work as hard in the future.

This.

[225]

I own a 2007 Ford F-150. My truck is paid for. If your car is working for you, buy the watch.

I was in the same situation you were. I used to own a AMG I sold a while back then instead of buying another one, I'm investing in wrist candy.

[Rondineli]

This thread needs a picture, so, here it goes.
Now, Take advantage of the relative US low price and...

Get the bimmer you are 27 only once in your life.

I gave a pre-owned 328i to my son it drives really nice and it is a beauty.

Did I say, get the bwm? Get it!