Stupid idea to lease or buy a BMW X3 as a mid-level? Wondering if people bought higher end cars as associates and regret it

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Amazing cars, but get a Hyundai.

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Previous car* we had another baby so we had to get a minivan. But point taken 😂

I am a senior associate. I just leased a 760. I got it for a steal (a little over $1k per month) - don't regret it one bit. If it makes you happy - that's what it's all about.

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It came down to wanting ample space between the two rows. The X7 is tighter because there is a third row. I'm 6'5" and I wanted to put my seat all the way back, and also not have one of my kids kicking the back of my seat. It does a good job. I also wanted something different - coming from a SUV. Also - it has 560HP - I definitely enjoy driving it myself.

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What level midlevel are you? Do you have loans? $659 should be easy to afford. $1k shouldn’t be bad either

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If you are still paying off student loans, I would not buy an X3.

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Gotcha. I think you can afford the X3 fine, however, if you are just getting a base level X3 it’s probably not that worth it compared to a nicer trim of a lower tier brand that would potentially be a lot cheaper

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I am a fan of the Genesis GV70 but don’t think it’s much less expensive than the X3

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Depends on how much you’re paying for it. I have an X5 and am at a similar level to you. It’s a splurge for sure but I enjoy driving the car.

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When did you get a BMW? I am a junior and thinking of getting a 330i or X3 but I am just a 2nd year with 20K of debt . Seems affoordable with the lease rate at like $650 right now

Bought my Mercedes GLC as a 2nd year during Covid. $600 a month 1.5% interest rate. Just paid it off. Worth every dollar

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Got into this and putting up with the hours so that I can afford my cars.

You do you. If it makes financial sense (or makes you happy), go for it.

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Buy if you have the cash.

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I bought my x3 used. 3 years old after a lease with 30k miles. Got it half price of a new one. If you don’t mind used it’s a great way to get this car, which I love.

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Get a GLC63Ss, I like mine it's so mean

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I’d say keep the Hyundai for another year or two and see whether you are still in biglaw then? I was leasing a car in the high 300s until my 5th year, and then bought a high-end during my 6th year at 900/month on low interest financing, and while I love the car the monthly payments continue to add up with kids and other unexpected expenses. Also the economy isn’t too hot right now either.

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In NY? Yes. In any other city where you need it to commute? Fck no. That’s my me time bought $100k car (no loans). I had double emergency fund saved. Whatever works for you and makes you happy.

I would get a rivian if I were you. You’ll save on gas while having a roomy comfortable car.

I have been a big fan of Tesla for years but unfortunately can’t recommend it with the turd reich still owning 22% of the company.

Senior associate. Got my plug in hybrid X5 delivered on Christmas Eve. Love driving it every chance I get.

Expensive but that’s why we do this job. I am more liberal with my money than most though.

That’s an amazing car. Have the 45e, but the 50e is something else! Congrats!

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Your debts sound rather high, I would caution against making it higher via car payments.

Have you considered saving up a little extra cash and buying it once you have the cash?

Where do you live? If you’re in NYC and only drive around on weekends I think it’s a bad idea. If you commute every day in the car and out a ton of miles on it, it’s a little more justifiable. Still not a good choice given your debts, but less crazy.

Even if just $650 per month?

I pay 650 a month for a luxury suv lease as a junior. It’s my only real “splurge” and I love driving so I don’t regret it. But I wouldn’t pay 1500 or something crazy for a luxury car at this stage

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