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E90/E91/E92/E93 (2006 - 2013)
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  #1  
Old 11-26-2013, 03:36 PM
cRise cRise is offline
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Thumbs up 2010 BMW 335xi Coupe! Finance offer! Help please!

Greetings Bimmerfest!

So I need your opinions.
I saw a nice CPO 2010 bmw 335xi Coupe, with almost everything (mpackage, cold weather, navi, etc) no HK sound however. It has 35k miles on it.
Anyways, I was able to bring the price down to exactly $30,000 flat.


My question is, with $5k down, they are offering monthly payment of $535 for 60 months, and that is with a 4.5% finance interest, 8.87% tax, plate, and registration fee.

Is that a good deal? What other questions should I ask? How do I lower my monthly payment without putting more on down payment, is it possible?

Thank you in advance! and I appreciate your help as always BF!
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  #2  
Old 11-26-2013, 04:27 PM
twhisten twhisten is offline
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Mein Auto: 2013 M3
Who is the financing through? Did you try your own bank and see their rates?
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  #3  
Old 11-26-2013, 04:29 PM
sunny5280 sunny5280 is online now
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Quote:
Originally Posted by cRise View Post
Greetings Bimmerfest!

So I need your opinions.
I saw a nice CPO 2010 bmw 335xi Coupe, with almost everything (mpackage, cold weather, navi, etc) no HK sound however. It has 35k miles on it.
Anyways, I was able to bring the price down to exactly $30,000 flat.


My question is, with $5k down, they are offering monthly payment of $535 for 60 months, and that is with a 4.5% finance interest, 8.87% tax, plate, and registration fee.

Is that a good deal? What other questions should I ask? How do I lower my monthly payment without putting more on down payment, is it possible?

Thank you in advance! and I appreciate your help as always BF!
The ways to reduce your montly payment:
  1. Pay less
  2. Put down more
  3. Lower the interest rate
  4. Extend the term of the loan
One seems unlikely, two seems to be what you want to avoid doing, three seems possible depending on your credit, and four seems unlikely (unless you have very good credit) as most financial institutions will not write a loan for more than 60 months on a used vehicle.
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  #4  
Old 11-26-2013, 05:42 PM
icon5585 icon5585 is offline
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Mein Auto: 2011 BMW 335i xDrive
If they're rolling in the sales tax, that's not a bad payment... 4.5% on a used car isn't awful, Bank of America has 3.5% though, give em a call?
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  #5  
Old 11-26-2013, 06:03 PM
Pilgrim Pilgrim is offline
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Check credit unions that you're either a member of or eligible to join. They're often the lowest rate. Dealers sometimes do have advantageous interest rates but odds are that you can beat it.
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  #6  
Old 11-26-2013, 06:05 PM
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blue boy blue boy is offline
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Location: south of east
 
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Mein Auto: 2011 328ix
no HK-- its over rated anyway.
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  #7  
Old 11-27-2013, 08:47 PM
cRise cRise is offline
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Thanks for the fast response!

So I guess the general consensus is that it's a good offer?

I guess the only thing left is to ask if local banks are willing to offer lower rates.

Thanks guys!
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