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      01-04-2013, 02:38 AM   #23
Tonifyd
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So... maximum would be 55K, which means.

total 81,500 - 25,000 (downpay) - 10,500 (20 payments) = 46,000

So I'll be left with 9K max?

ouch.
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      01-04-2013, 11:15 AM   #24
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To clarify, if this is a true balloon loan, the OP has purchased the car, but structured the loan much like a lease. That means he owns the car subject to the lender's lien.

The problem for the OP is that he needs to do something. The loan terms are awful and it makes no sense continuing with the loan, even if he wants to keep it. Very little of the payment is going to principal and the longer you have the loan, the worse off the OP will be. A co-signer may be required if financial situation is an issue, but at today's low interest rates - as low as 1.5% for a refi - OP could pay off the entire car in 5 years at a similar monthly payment. If OP can't refinance, selling it now, even at a loss, would be wise.

OP - how much is the current payoff? I would think it's ~47K.

If it were me and refi is an option, I would certainly keep it. It's been babied like none other. Just look at the other e90's out there sitting - high mileage, vague sellers, etc. - it's not surprising they aren't going quickly. I transferred the lease on my 2011.75 e90 recently and there were several serious buyers. But ultimately OP needs to make the right financial decision and a sale may be the only option.
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      01-08-2013, 02:39 PM   #25
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Quote:
Originally Posted by SamS View Post
Agree and disagree.

Agree that the E90 M3 will take an immediate value hit in 3 months when the Concept F80 M3 debuts.

Disagree that he can get $55K. His cosmetic mods add <$500 value to the selling price, although mileage and condition are definitely helping out. I think a more realistic number is $50K. Remember, the car will be half-way done with warranty in the coming months. And it's missing DCT, which is the more popular transmission choice. It won't be hard to sell of course, but 6MT is always associated with a lower selling price because of the high option cost of MDCT.

Take this advice from someone who sold a low-mileage 2012 E92 M3 just two months ago
When I was purchasing my 2011 e90 I almost bought a 2010 with all options and only 11k miles. I had the dealer down to just under $50k "out the door", but my wife wanted to think about it over Thanksgiving week.

When we walked in the Friday after Thanksgiving for our appointment, there was the "guy in here talking about buying it". I thought that they were trying a pressure sale, but I saw him driving it around and he bought it at their full asking price of $56k.

You can never tell what a private buyer will pay, but I can be pretty certain that a dealer isn't going to willingly offer $55k either. Remember that mods typically don't get ANY value from dealerships/other professional places. In fact, they actually took value OFF my wife's 325i trade in BECAUSE I had installed a Dinan level 1 suspension a month before selling it. (Negotiated it back and then some, fortunately, on the new e90.)

I'd tend to agree with you on this one. Expect $50k, hope that you are pleasantly surprised.
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      01-09-2013, 09:31 AM   #26
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Quote:
Originally Posted by Tonifyd View Post
So... maximum would be 55K, which means.

total 81,500 - 25,000 (downpay) - 10,500 (20 payments) = 46,000

So I'll be left with 9K max?

ouch.
Just call your bank and ask for the payoff amount. Your payments include interest and there may be a penalty for paying off early. We can speculate or you can spend 5-10 minutes to know for sure.
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