179$ a month on an 08 new m3 coupe!

[camaross305]

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?

[positiveions]

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.

[monk]

I paid for it so my payment is 0$ a month.

[ACZakka325i]

I think it would be unwise to put $34k down on a leased car.

[Blake]

Originally Posted by ACZakka325i

I think it would be unwise to put $34k down on a leased car.

+1

[reinaldo335]

0 down, wait some years, then crash it, the insurance will buy it. lol

[BMW335icDDS]

I'd just keep the 335. Get a GT-R if you want a true upgrade.

[camaross305]

Originally Posted by BMW335icDDS

I'd just keep the 335. Get a GT-R if you want a true upgrade.

Not with people blowing up tranny's already and the 20k mark ups

[jaay11]

Originally Posted by eatrach73

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.

Exactly....!!!!! Get 4% for your money......at the end, give them their balloon and keep the change in your pocket.

[Sedan_Clan]

Originally Posted by ACZakka325i

I think it would be unwise to put $34k down on a leased car.

It's not a leased car. The 0.9% is on purchases. The performance loans just have a balloon payment at the end (...which varies depending on cap cost, etc.).

[Blake]

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.

[White08M3]

Originally Posted by ACZakka325i

I think it would be unwise to put $34k down on a leased car.

+ 1000000

Your giving it back! why spend 34k?

[Sedan_Clan]

Originally Posted by blakepilot

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.

He wouldn't have to mess with a balloon because of his initial cap reduction. The 0.9% is available on traditional financing on '08's as well; BMW is just offering an alternative (..a'la...special financing). He'd virtualy get away with very little interest paid.

Originally Posted by White08M3

+ 1000000

Your giving it back! why spend 34k?

Read my post above. It isn't a lease!

[montreal red]

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.

[trucheli]

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.

[Sedan_Clan]

Originally Posted by trucheli

I don't believe in leasing a car either.

Everybody is entitled to their opinions. Leasing can be beneficial depending on the individuals' circumstance.

[camaross305]

Originally Posted by trucheli

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.

Yea i dont want to do the shortest term possiable because i want to have low payments while im in school. I was thinking of putting down 35$ toward a balloon, i have 18k cash i can put in a CD, ill have low payments while i finish school and when the ballon comes up ill pay off the car.... Ill probly have the ballon paid off before it comes