Should I switch to a BMW?
I'm currently in 2nd year of medical school in California, my last 2 coming years of medical school involve rotations at hospitals and some campus time. I worked and saved up 72k in the last 6 years and am currently driving a 2012 Honda Civic.
I'm thinking of trading it in for a BMW X1 or BMW M235i, both cost around 50k. Is this a good idea? I do get a warranty of 4 years/50k miles, the BMW Ultimate Service no cost and I will probably drive it daily.
Horrible idea. Save your money for your training.
Invest your money in something that will earn you enough profit to make payments on the BMW. Don't spend the principal on the BMW as it will only lose value. That's all that new cars do once you drive them off the lot. Be smart.
It's a ridiculous idea. You'll be short of money as you go through your course. You need a means of transport not an ego statement.
It's a ridiculous idea. You'll be short of money as you go through your course. You need a means of transport not an ego statement.
Unless you're independently wealthy and are managing to get through medical school without any student loans this would be a bad idea. You'll be paying hefty malpractice insurance premiums long before you start earning big bucks as a doctor, so save your money for that.
No, that's a crazy way to spend your savings. You have retirement at some point, you have student loan debt I assume, and you have a perfectly good car.
Maybe later down the road when you are permanently employed.
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