need a little advice

[SoreHead]

Originally Posted by ASU

Let's look at it, two very similar blues. LB and IB. Both very nice, was with a little purple in it and the other a clean blue. We all would drive those colors.

So we have red and white left. Either you love red or you don't. As for white, possibly the best color but all my friends have white to I don't. And I would say no to either of these either.

Less of the "we all". I wouldn't drive any of those colours.

My favourite colour isn't even available anymore. (Sparkling Graphite)

[haze gray]

Jerez Black is a great color. Black looks great when clean, and face it, most of us keep our cars exceptionally clean. My wife thinks it's funny how much time I spend on my M. Drive it and enjoy it. As someone posted, all colors drive the same.

[RevFreak14]

You lost about $6 or $7k as soon as you drove it off the lot. Good luck though.

[SlamMan]

The short answer is no. You can't trade a used car for a new car without loosing your ass. Your best bet might be finding someone with an M3 in the color you want and trading them. Good luck finding that deal though.

[osteome]

Originally Posted by jb-m3

Just fyi, I read somewhere that doing that will really hurt your credit rating. Banks don't like to see people taking large amounts of credit and turning around and paying it in full that quickly.

I think that with the current financial climate, that banks would rather you pay the loan off quickly.....or not take one at all.

I have never been aware of any penalty in terms of an impact of the credit rating for paying a loan off early. Some loans may have a prepayment penalty, but that usually a known element of the contract.

I'd rather let my FICO suffer by not having a number of open lines of credit. At the end of the day, I am more concerned with my personal debt to income ratio and concentrate on having zero debt.

[Bob MG]

Originally Posted by jb-m3

Just fyi, I read somewhere that doing that will really hurt your credit rating. Banks don't like to see people taking large amounts of credit and turning around and paying it in full that quickly.

Since the world wide financial crisis I am not sure the bank would be too hesitant to black list an over efficient payer, since they are concentrating on all the defaulters

[Kyoshi71]

Originally Posted by jb-m3

Just fyi, I read somewhere that doing that will really hurt your credit rating. Banks don't like to see people taking large amounts of credit and turning around and paying it in full that quickly.

That is 100% correct. It's ok to pay off a loan slightly before it's due but it's not ok to take out a loan and then pay the whole thing off in the 1st few months. It will definitely hurt your credit. The bank sees it like this: Financially responsible people pay their debts and are worthy of high credit scores; financially responsible people would also anticipate any sum of money coming their way that would allow them to payoff a loan within the 1st month and opt to not take the loan. That's why it's a knock on your credit.

[BobsM3Coupe]

Originally Posted by Kyoshi71

That is 100% correct. It's ok to pay off a loan slightly before it's due but it's not ok to take out a loan and then pay the whole thing off in the 1st few months. It will definitely hurt your credit. The bank sees it like this: Financially responsible people pay their debts and are worthy of high credit scores; financially responsible people would also anticipate any sum of money coming their way that would allow them to payoff a loan within the 1st month and opt to not take the loan. That's why it's a knock on your credit.

Never heard of such nonsense. Where is the proof of this in writing?

[Buschy]

yeah I wish I had your problem. lol

just paint it.

and as for credit , I believe it does not help your credit but probaby doesnt hurt it.. however, if you have it on there for six months or so then I believe it helps.

[haze gray]

Jeez, don't paint it! Drive it.

[Kyoshi71]

Originally Posted by BobsM3Coupe

Never heard of such nonsense. Where is the proof of this in writing?

So because you never heard of it, it doesnt exist? ....

LISTEN UP EVERYONE.... From now on, if "BobsM3Coupe" hasn't heard of something, it doesnt matter anymore.

[gongju]

Originally Posted by buschy

yeah I wish I had your problem. lol

just paint it.

and as for credit , I believe it does not help your credit but probaby doesnt hurt it.. however, if you have it on there for six months or so then I believe it helps.

My CA told me after 6 months u can pay whatever u want. U avoid some early prepayment penalty fee or something. Not sure about the credit thing tho.

[Buschy]

yeah after thinking about it , your right jerez is nasty sell that pos.