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11-22-2009, 09:06 AM | #23 |
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Salary isn't everything in a car loan, I actually got approved by sending a copy of my college diploma/grades and law school acceptance letter since this was my first car in my name I just didn't have the credit history. I ended up not even needing proof of income and even have them lower my APR! When you don't have a history of car credit, it's hard to build a profile of a person.
I kind of wish I would have taken the higher rates two years ago when I got my Infiniti to avoid this kind of problem but my dad practically got 0% financing based on his income/credit so that was hard to pass up.
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11-22-2009, 08:27 PM | #24 |
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Credit crunch has been insane! I think BMWFS is into picking up cash upfront... My frist lease 2007 335i they wanted $10k down (on lease!!!)...ok, I went for it...since it was to reduce monthly payment, for 3 years made payments on time (almost on time) and I owed them $0.00 at the end of lease...., the second time around they wanted $20k down on a lease! for an M3....wow... I would much rather buy gold,-best bet in these shaky economic times...
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11-23-2009, 06:26 PM | #25 |
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^^wow that is crazy for a dp.
i m working on 09s. lets see if magic can happen. I would double up on payments but.... gotta buy a place(yes i will finance that too, i don t have 300K to drop i know someone said how people live off of financing in america and how sad it is) also getting married in the near future. this is my only chance to get it. very narrow window fellas, know what i mean? hypothetically i can double up but i don t know how much that would change things. or do u mean the monthly payments go down? i know there is no penalty on paying it off early. |
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11-23-2009, 08:55 PM | #26 |
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Dude if you're getting married AND planning on buying a place in the next 6-12 months, last thing you need is a $1200 car payment. Don't do it. For you AND your families sake.
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11-24-2009, 01:15 AM | #28 | |
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Bottom line is, yes people in this country live beyond their means, but someone making 200k a year could afford an //M with no worries at all, but they still may not have 70k laying around. Cheers, e46e92
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"...it's not about the money and not about the brand of the car, it's about handling,performance and passion......And that, no other car has all together like an M3........when you talk about the most complete car the M is invincible." --Tony Kanaan. |
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11-24-2009, 08:06 AM | #29 |
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you might be ok with spending 1200 a month now on an M3 but in 3-4 years your going to hate paying that much for 3-4 year old car. Personally I only buy things in cash... or cash and small loan which I will pay off much faster (3-6months) than the expected 36/48/60 months. trust me man....
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11-24-2009, 08:07 AM | #30 |
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11-24-2009, 08:30 AM | #31 |
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I have the best of both worlds, I put half the car down and am financing the rest lol
But back to the OP - there will be plenty of time in life to have fun and buy this car, I would never consider buying a new car just as I am about to get married regardless of my income. It's not something you want holding you back from anything. Think like a man, and think about your future wife (and someday children) the money will be better spent elsewhere!
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11-24-2009, 08:45 AM | #32 |
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11-24-2009, 10:39 AM | #33 | |
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How often do you hear: ..."I just got out of high school and..." ..."I just graduated college and..." ..."I just lost my job BUT..." ..."I just made an extra $250 on the sale of my Civic, so..." |
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11-25-2009, 01:20 PM | #36 | |
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Follow the link below and it'll show you in numericals terms what I'm saying. it'll make way more sense then. I didn't get it until I looked at it like that. http://www.bankrate.com/calculators/...alculator.aspx |
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