Here is an entirely different viewpoint with a more analytical approach:
Im 27, i own 4 cars, only 1 with a payment and not a single one has less than 100K miles. 2 of them have over 200k miles.
The one with a payment i purchased just over a year ago, when i started my sales job.
2007 335i sedan It was worth $24k when i got it for $20k. I put $3k down, and have driven it about 37k miles in 13mo.
What drove my decision? I LIVE IN MY CAR (pretty much) and I have a background working for professional race teams and i turned wrenches to pay for college so i really enjoy driving. This was important to keep my sanity on the road. Last sales job they provided me with a Charger and i would come home from a day on the road and feel tired. Now i come home energized and happy to see my wife.
The economic decision:
i went back and looked at how the 3 series BMW has depreciated. The easiest thing to do is look at what they leased for NEW. Manufacturers and dealers put a lot of work into assuming a certain amount of depreciation and wear and tear and they assign that value to it in the form of the lease payment. I also looked at other cars with high mileage and got an estimated % of depreciation per year. (came up with 14%, pretty high for an already 5yr old car but its German and i am packing on the miles).
After doing the math if i needed to sell it at any year within the 4 year loan i would get about 125% back year over year. It also helps that i am paid mileage that covers not just my payment but tires wear and tear. (for 2012 i netted $800 in the black)
Now I'm planning to quit the job and jump in RE full time in 2 mo after my marketing shows signs of consistency, (need 2 more months of 3 house purchases a mo). When this happens it becomes a much larger liability as i am on the hook for all payments.
Will just have to see how things are looking then and decide if i will sell. If i sell, will most likely find something i can pay cash for that is still fun to drive and more economical than my V8 land cruiser.