<prompt> Human: So heres the situation. I am 24 years old just turned 24 March 22. I make 55kyr and after taxes, 3k a month. I calculated a 2013 328 BMW will cost me 680 to 700 a month insurance included with my 7k down payment for a 60 month payment plan with a deferment amount after that. That leaves me at 2300 left for the whole month to pay for gas, food, etc.. I am still living with parents. Sounds ok to me..?Another situation the MORE PREFERABLE:I buy a used 2010 or 2011 BMW, which will cost me 400 to 430 a month insurance which would be around 550 to 650 a month with insurance. I put a 7k down payment, and pay a lower TOTAL amount about 30k to 42k compared to the 2013 BMW at 48 to 50k.What do you guys think I should do? Any other ideas? I test drove several BMWs and fell in love. EDIT: In addition, lets also factor that my Salary is probably not going to stay at 55kyr and will move up. I am a software programmer so I am not worried about job prospect. In one way or another, my salary will move up. Still a bad idea? I wont be living with parents to long because salary increase will help me move out maybe.  <response>: Its an excellent plan if you are going to live with the parents for the rest of your life 