How Much $

Transcon · 07-22-2017, 02:41 PM

Quote:

Originally Posted by Aronis

$56845. cash.

Mike

If possible always the best way.

I didn't really "negotiate" but told the dealer $500 under MSRP and it was sold...they agreed. Figured with the $500 CCA rebate that $1K total under MSRP was a fair deal to me. Got the total with tax,lisc,fee's,ect. and added the clutch and pads to the 3/36K for $600 (crap that they don't cover that anymore but I figured the pads/rotors would make it a wash in 3 years) Was going to pay cash but got a 1.49% from my credit union which is close enough to free cash for 72 months. Brought in a check the next day and drove her home.

Assuming you fall into a A+ tier credit score which is hovering around 800 you will have zero problems finding a lender to beat BMWFS.

Aronis · 07-22-2017, 04:24 PM

Was kidding about cash.....but got a great financing rate. Big down payment helped I think. I've always wanted to walk in an buy a car with cash! Never going to happen unless I win the lottery.

Mike

drewF87 · 07-22-2017, 05:37 PM

Paid MSRP.
72 mos. @ 2.9% = $856/mo.

akkando · 07-22-2017, 05:52 PM

Quote:

Originally Posted by Aronis

Was kidding about cash.....but got a great financing rate. Big down payment helped I think. I've always wanted to walk in an buy a car with cash! Never going to happen unless I win the lottery.

Mike

I paid cash. The smart move is to finance and have your money work for you, but I just wanted to own it and not worry that investing the money doesn't beat the loan rate, but I wouldn't recommend what I did unless you just don't want debt. I liked the idea of just buying it and not have a loan and not have a bank making money off me. After I bought it so many people asked me lease or finance, what's my monthly payment. Usually I just say I bought the car and they assume I mean financed.

zenmaster · 07-22-2017, 06:11 PM

Quote:

Originally Posted by akkando

I paid cash. The smart move is to finance and have your money work for you, but I just wanted to own it and not worry that investing the money doesn't beat the loan rate, but I wouldn't recommend what I did unless you just don't want debt. I liked the idea of just buying it and not have a loan and not have a bank making money off me. After I bought it so many people asked me lease or finance, what's my monthly payment. Usually I just say I bought the car and they assume I mean financed.

Manageable debt with low interest loans is smart if the market is good. By taking on a loan debt for that $60k and investing at a 15% yearly return you could have paid your car off in 5 years and have 100% of your money back (including bank-loan interest) to buy another car.

Aronis · 07-22-2017, 07:01 PM

Car is not an investment. Neither is a house...unless your flipping either one. LOL

akkando · 07-22-2017, 07:04 PM

Quote:

Originally Posted by zenmaster

Manageable debt with low interest loans is smart if the market is good. By taking on a loan debt for that $60k and investing at a 15% yearly return you could have paid your car off in 5 years and have 100% of your money back (including bank-loan interest) to buy another car.

15% yearly return? Sign me up!

Transcon · 07-22-2017, 07:10 PM

Quote:

Originally Posted by Aronis

Car is not an investment. Neither is a house...unless your flipping either one. LOL

Tell that to my buddy who bought my '89 930 from me for $40K in 2006. He sold it at auction last year for $165K. Though I do thing the air cooled P market has peaked there are others on the rise, my 2002Tii is one of them. Problem is you can never predict these things, who knew the 1M would be so limited. Or the $35K Ferrari Dino from 15 years ago no one wanted cause "its not a REAL Ferrari".

I will agree with you about the M2 as it shouldn't be looked at as in investment in the monetary sense of the word. I do see it as an investment in my happiness every time I drive it....some things are worth more than money

Aronis · 07-22-2017, 07:36 PM

Quote:

Originally Posted by Transcon

I will agree with you about the M2 as it shouldn't be looked at as in investment in the monetary sense of the word. I do see it as an investment in my happiness every time I drive it....some things are worth more than money

...and that is why I bought mine! Sure I wanted an RS7...or an S8....but no, can't do it with a kid in college and two more to save for......

Mike

achenator · 07-22-2017, 07:42 PM

Quote:

Originally Posted by akkando

I paid cash. The smart move is to finance and have your money work for you, but I just wanted to own it and not worry that investing the money doesn't beat the loan rate, but I wouldn't recommend what I did unless you just don't want debt. I liked the idea of just buying it and not have a loan and not have a bank making money off me. After I bought it so many people asked me lease or finance, what's my monthly payment. Usually I just say I bought the car and they assume I mean financed.

Paid cash too. Not for any other reason but that I already have a pretty big note on my R8 and didn't want another note.

zenmaster · 07-22-2017, 08:03 PM

Quote:

Originally Posted by akkando

15% yearly return? Sign me up!

That's what that market has been doing for the last five years:

https://www.google.com/search?q=qqq+...utf-8&oe=utf-8

rouxeny · 07-23-2017, 01:31 AM

Quote:

Originally Posted by zenmaster

That's what that market has been doing for the last five years:

https://www.google.com/search?q=qqq+...utf-8&oe=utf-8

Which makes it unlikely it will do that for the next 5 years. After the up, there's always a down.

akkando · 07-23-2017, 02:51 AM

Quote:

Originally Posted by rouxeny

Which makes it unlikely it will do that for the next 5 years. After the up, there's always a down.

That's how I feel. It seems high and I have enough invested now that I don't have a good feeling about throwing in 60k more. The only investments I have been adding are retirement related because long term.

zenmaster · 07-23-2017, 11:50 AM

Quote:

Originally Posted by rouxeny

Which makes it unlikely it will do that for the next 5 years. After the up, there's always a down.

Yep, likely due to things like over-speculation bubbles, natural disasters or political actions. And the full market or your particular segment could crash hard too. But is it most likely going to beat that relatively tiny 2% interest fee spread over a full 5 year period? Of course. So one with means can be ultra conservative and pay in full immediately, or place a rather safe bet on net positive market growth over that same period.

jtfields · 07-23-2017, 05:17 PM

I got 1.89% through my credit union. But that was nine months ago.

BAN_M2C · 07-24-2017, 07:43 PM

0.9% for 72 months

MSRP, Paid the taxesand docs to ensure I financed MSRP only..

Entire loan will cost me only $1500 in interest

bimmer4life24 · 07-24-2017, 08:01 PM

Quote:

Originally Posted by BAN_M2

0.9% for 72 months

MSRP, Paid the taxesand docs to ensure I financed MSRP only..

Entire loan will cost me only $1500 in interest

Who did you finance through?

BAN_M2C · 07-24-2017, 08:02 PM

Quote:

Originally Posted by bimmer4life24

Who did you finance through?

BMWFS

bimmer4life24 · 07-24-2017, 08:04 PM

Quote:

Originally Posted by BAN_M2

BMWFS

How did you get that rate??? I need that for myself too!

BAN_M2C · 07-24-2017, 08:07 PM

Quote:

Originally Posted by bimmer4life24

Quote:

Originally Posted by BAN_M2

BMWFS

How did you get that rate??? I need that for myself too!

From what I have gathered it was the right moment and place.. only heard a handful of people getting that deal.

Walked in with 1.49% from PenFed and they offered me 0.9%.. no brainer there.

This was about this time last year when I sorted all details for my car which ended build process a week ago last year.

M5XDRIVE · 07-26-2017, 08:52 AM

DocB

How did you end up with $1,300 payments with a credit score of 800+ @ 60k/5years?

AGM2 · 07-26-2017, 08:58 AM

Paid MSRP. Car is not an investment..I was going to paid cash ..
72 mos. @ 1.9% = $452/mo. ( credit union )

07-22-2017, 04:24 PM	#24
Aronis Brigadier General 2269 Rep 3,293 Posts Drives: 2018 M5 Join Date: Aug 2016 Location: Binghamton, NY iTrader: (0)	Was kidding about cash.....but got a great financing rate. Big down payment helped I think. I've always wanted to walk in an buy a car with cash! Never going to happen unless I win the lottery. Mike __________________ 2018 M5 and 2019 Porsche Boxster GTS Prior. '94 325is, '97 M3 Lux, '16 M2
	Appreciate 1 Transfer5250.00 Quote

07-22-2017, 05:37 PM	#25
drewF87 Private 26 Rep 63 Posts Drives: '17 BMW M2 AW, 6MT Join Date: Jun 2016 Location: Greater Philadelphia iTrader: (0)	Paid MSRP. 72 mos. @ 2.9% = $856/mo.
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07-22-2017, 07:01 PM	#28
Aronis Brigadier General 2269 Rep 3,293 Posts Drives: 2018 M5 Join Date: Aug 2016 Location: Binghamton, NY iTrader: (0)	Car is not an investment. Neither is a house...unless your flipping either one. LOL __________________ 2018 M5 and 2019 Porsche Boxster GTS Prior. '94 325is, '97 M3 Lux, '16 M2
	Appreciate 0 Quote

07-23-2017, 05:17 PM	#37
jtfields Captain 191 Rep 616 Posts Drives: M2, X2 M35i, X6,328i,230i Join Date: Jun 2016 Location: Texas iTrader: (0) Garage List 2017 BMW 230i [0.00] 2022 BMW X2 M35i [0.00] 2015 BMW 328i [0.00] 2008 Jeep Commander ... [0.00] 2017 BMW M2 [0.00] 1997 BMW Z3 1.9 Roa ... [0.00] 2014 BMW X6 xDrive35i [0.00]	I got 1.89% through my credit union. But that was nine months ago.
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07-24-2017, 07:43 PM	#38
BAN_M2C Brigadier General 4178 Rep 3,075 Posts Drives: 991.2 Porsche GT3, BMW E46 M3 Join Date: Jul 2016 Location: Sunshine State iTrader: (5) Garage List 1987 BMW 325is [10.00] 2004 BMW X3 [6.50] 2018 Porsche 911 GT3 [10.00] 1974 BMW 2002tii [10.00] 2004 BMW M3 [10.00]	0.9% for 72 months MSRP, Paid the taxesand docs to ensure I financed MSRP only.. Entire loan will cost me only $1500 in interest __________________ Follow me on IG Garage: 2018 991.2 GT3\|2013 135i\|2004 M3\|2004 X3\|1987 325is\|1987 325i\|1974 2002tii
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07-26-2017, 08:52 AM	#43
M5XDRIVE Private 17 Rep 81 Posts Drives: 135i, E36 328i Join Date: May 2013 Location: MD iTrader: (0)	DocB How did you end up with $1,300 payments with a credit score of 800+ @ 60k/5years?
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07-26-2017, 08:58 AM	#44
AGM2 Lieutenant 298 Rep 471 Posts Drives: M2 LBB 17 Join Date: Jul 2016 Location: Land O Lakes FL iTrader: (0)	Paid MSRP. Car is not an investment..I was going to paid cash .. 72 mos. @ 1.9% = $452/mo. ( credit union )
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