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10-13-2008, 06:45 PM | #1 |
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179$ a month on an 08 new m3 coupe!
Ive been looking at m3's the past few days. If i do the .9% on an 08 new coupe and do the ballon style loan i think bmw calls it the performance loan or something. The car is 69k$ it has premium, 6mt, tech package, 19''s, extended leather and premium sound. Do you think i could talk them down at all on the price of the car? I own my 335i coupe out right and they said they willl give me 34k trade in on it. So basically im putting down 34k. With all this at .9 my payments will be 179% a month. Or im thinking of keeping 10k, put down 24k and that will make my payments 425$ a month. Basically this payment plan is like a lease with the option to buy after 3 years but no mileage restrictions. What do you guys think? My 335i is fully loaded nav, premium, sport, winter package etc. and only has 10k miles. I was hoping more like 37-38k for my car...... Has any body else done this bmw performance plan? Seems like its as cheap as a lease with no restriction. Who wouldnt do it?
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10-13-2008, 07:40 PM | #2 |
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I say, if you put less money down, is better; because you can take what you have and and place it in some kind of a CD where you earn interest on it. At the end of the 5 years, cash in your CD, and pay off the balloon payment.
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10-13-2008, 10:30 PM | #4 |
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I think it would be unwise to put $34k down on a leased car.
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10-13-2008, 11:03 PM | #7 |
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I'd just keep the 335. Get a GT-R if you want a true upgrade.
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10-13-2008, 11:31 PM | #8 |
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10-14-2008, 05:29 AM | #9 |
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Exactly....!!!!! Get 4% for your money......at the end, give them their balloon and keep the change in your pocket.
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10-14-2008, 12:22 PM | #10 |
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10-14-2008, 12:25 PM | #11 |
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but if you're going to put $34k down, why not just do a 3 year term on traditional financing? why dick with a balloon payment at the end? doesn't make much sense to me, at least. with all that money down, the payment would still be pretty cheap.
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10-14-2008, 12:47 PM | #12 | |
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Your giving it back! why spend 34k?
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10-14-2008, 12:51 PM | #13 | |
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Read my post above. It isn't a lease! |
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10-14-2008, 06:11 PM | #14 |
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dont put so much down on a leased car... if you want to finance it then its a different story... i am putting $50k down with a 3 year finance plan on my m3 but that means i'll own it at the end of 3 years... no point putting so much down and not even owning the car after that.
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10-14-2008, 07:40 PM | #15 |
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The balloon program is called BMW Select. This is not a lease. This is a creative way of BMW to finance a car which in my opinion is a rip off. At the end of 5 years you would have to come up with the remaining balance. If you don't put any money down you will be having to come up with around $22,000.
If I were you I would put the $34000 up front and finance the rest on a 0.9% or 1.9% for the shortest term possible. As a financial advisor I always recommend to pay cash for a depreciable asset. The next option is to put as much money down possible and finance the balance with the lowest rate available. I don't believe in leasing a car either. |
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10-14-2008, 08:12 PM | #16 |
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10-14-2008, 10:16 PM | #17 | |
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