[supremeBaleno]

The point is you dont need to sell your wife and kids or even house to buy one. And BMW does not necessarily mean 7-series - the cheapest one retails for ~30-35L.

[vij]

Originally Posted by supremeBaleno

The point is you dont need to sell your wife and kids or even house to buy one. And BMW does not necessarily mean 7-series - the cheapest one retails for ~30-35L.

You are missing what I am intending. And yeah, I mentioned the 7 series only to get in the sell house wife and kids scenario. Most, including me, cant afford 7b series and I know it.

In many ways - Can a regular IT Joe afford a BMW(X1)? This question also translates to "Is it affordable and realistic" and "can he live comfortably after buying one" - I think thats the moot point of the question, atleast to my understanding. Hence my answer.

[noopster]

I don't know about BMWs but the IT Joe seems to be rushing to get Audis these days. I see so many A4s (and some A6s) in Pune these days driven by these "IT types".

Reflection of today's social mores as well- gone are the days when you would have crores in your bank account but drive to work in an M800 because you didn't want to offend the boss!

@vij- no offence, but if you made 70 lac last year and STILL don't think you should splurge (on a Bimmer or anything else) then the rest of us should really pack up and leave

[black12rr]

Why is the POLL CLOSED ?

Yes,IT person can buy it ,if its his/hers passion/ ultimate goal .Why not enjoy life now when you are young and have energy ,rather than having one when you are in 50s ?.

[vij]

Originally Posted by noopster

@vij- no offence, but if you made 70 lac last year and STILL don't think you should splurge (on a Bimmer or anything else) then the rest of us should really pack up and leave

If I have another year like that I will. Currently, I think the Vento Diesel is a nice practical car and has some class too.
A person should have around 1 crore in FD and a good house of his own to truly enjoy the 320D or X1. Its the 2nd part I have to take care of. This is my personal opinion.
Once you have both, you can truly enjoy the BMW without worrying about other factors. Otherwise someone like me will have the BMW or Audi but less peace of mind

[Spitfire]

The more I visit the thread. The more I get depressed. :(

I am doing something wrong somewhere. I believe I should have been behind the wheel of a G55 AMG by now.

[bhp_maniac]

Interesting discussion going on Can an IT person buy a BMW, the answer is YES. But if the question is can he/she buy and maintain it then it would be a different answer But as somebody said, gone are those days when IT persons set benchmark for Indian salary. There are much better paid jobs.

[supremeBaleno]

Looks like not only did a BMW get affordable to many, but also seems like we would see many new owners on the forum.
Check out http://www.team-bhp.com/forum/indian...e-offer-1.html

[apachelongbow]

IT salaries progress at an average rate of Rs 1lac/year of work exp. So someone with about 10 years work exp is about Rs 10lac CTC. Yes specialized skill sets and niche/product guys make somewhat more say between 12-15 lac CTC. Also beyond 15 years work exp unless one progresses into management we see a stagnation of salaries at about Rs 20-25 lac/annum level. People drawing Rs 40lac plus are in the minority, not every IT guru gets to that figure.
Most of the IT companies give salaries in CTC, so if we remove the transport allowance, food allowance, lease etc etc, the net take home after 30% tax is not really high.

A person who can truly afford a BMW on salary is someone who takes home more than Rs 150,000 per month and with no liabilities like kids. The Q3 is targeted at exactly such a segment.

[n.devdath]

Originally Posted by apachelongbow

A person who can truly afford a BMW on salary is someone who takes home more than Rs 150,000 per month and with no liabilities like kids. The Q3 is targeted at exactly such a segment.

Agree with you on that, however if a person has a take home of say INR 100,000.00 per month with no liabilities, he/she can easily pay an EMI of INR 60,000.00 per month which translates to around 30l INR as a car loan. This EMI plus some 10 lac INR translates to what the new 3 Series costs, on road Bangalore.

The issue here is that most of us are stuck with our home loan EMIs which take up a significant chunk of our incomes even if they are in that 1,50,00.00 per month range which is why we cannot buy such exotic cars.

[shivasuma]

Well, I am sure an avg IT guy can afford to buy a BMW. I myself was very tempted by the 6L off on the old 3 series and very nearly gave in, but then decided to stick with my Jetta (which itself is above the budget decided before starting the new car hunt). I have no house loan (live with my parents) and have another car loan which will get over in 6 months. Again it depends on an individual's preference. I know an IT friend of mine who probably could afford to buy a S class/7 series/A8 but still chooses to drive around in his esteem. Luxury cars are "affordable" because of long term loans (thanks to SBI and such!) which were previously not available.

[supremeBaleno]

@shivasuma, when I saw yours as the latest post on this old thread, I thought you had bought a Merc/Beemer and are posting as proof of an IT Joe being able to afford those cars. Since you did look seriously at that possibility before settling for the Jetta, I think that counts too.

Atleast today this is not a big deal if you plan your career well (not just in IT), save well and invest better. What matters more is whether you have the mind-set (depends on your individual character, upbringing, societal conditioning etc etc) to pay that much for what is still just a car. And if this is a 3-series or X1, even though a luxury car, it still is the lowest in the food chain of luxury cars.

[CrAzY dRiVeR]

When you guys mean - regular IT joe - whats the age and work experience being considered here?

I have 4 years experience in IT, and I'm struggling to pay for a FIAT Punto, forget a BMW. Have never seen any of these luxury cars in our office car parking as well.

[rameshnanda]

Originally Posted by CrAzY dRiVeR

When you guys mean - regular IT joe - whats the age and work experience being considered here?

I have 4 years experience in IT, and I'm struggling to pay for a FIAT Punto, forget a BMW. Have never seen any of these luxury cars in our office car parking as well.

True. Even I am finding it a pain to pay the EMI for my Linea itself.

But, I see all luxury car in my office parking. Don't know who own them.
Audi A4, A6
BMW X1, 320D
Merc ML350.

[punto_]

Originally Posted by CrAzY dRiVeR

When you guys mean - regular IT joe - whats the age and work experience being considered here?

I have 4 years experience in IT, and I'm struggling to pay for a FIAT Punto, forget a BMW. Have never seen any of these luxury cars in our office car parking as well.

Haha. I agree. Even I don't think I will be able to afford a BMW - atleast not in the near future! Need to finish my Punto loan first!