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Old 07-10-2019, 06:11 PM
imtjm imtjm is offline
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Originally Posted by Autoputzer View Post
I'm philosophically opposed to car loans, except for one's first appliance car. But with the $500 credit for financing and 1.9% interest rate, even I financed our most recent BMW. I bought a 2.3% CD with the "car money."

I actually put the remaining cost of the car, about 10%, on my BMW FS Visa card, earning 4% rebates. So, like in the VW commercials, I did a "sign and drive." The BMW FS Visa card rewards description says 4% rebates at "BMW Centers." But, down in the fine print it says you get that at any car dealership. I get a special price on GM cars. So, my beaters are always GM cars bought new. I'm due for a new one next spring. I'm going to put a lot of it on my BMW FS Visa, too.
hard to be philosophically opposed to car loans during the whole 0%-1% era, or any financing rate substantially lower than the opportunity cost of using the cash for some investment.

I'm philosophically, morally, and outright opposed to the finance for credit gimmickery.

I wouldn't get caught in the financing for credit gimmickery, because BMW is counting on people being lazy and stupid, which is exactly what happens 98.314% of the time. I just helped a friend buy a new BMW, and the dealership kept threw the whole finance for credit gimmickery and argued you need to keep for four months then you can pay off, but you still make out because of the credit amount, argument. I just said no and gave them my, errr, my friend's out the door number, and told them I don't care how they get to the number, but not gonna do the finance for credit gimmickery. shockingly (not) they met the price without the finance for credit gimmickery.
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