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F12 / F13 M6 & F06 M6 Gran Coupe (2012 - current)
The third generation M6 based on the BMW F12/F13 6 Series and shares its 7-speed M-DCT gearbox, BMW S63 V8 engine and other technology with the F10 BMW M5. The F06 M6 Gran Coupe, based on the F06 6 series also shares the same engine, transmission and technology.

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Old 11-11-2019, 02:59 AM
Sunsfan13 Sunsfan13 is offline
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Finance 2016 M6 Grand Coupe or buy from Salvage yard

Hi everyone ,

I apologize in advance if this isn't where I'm supposed to be asking this question. But I have a big decision to make and I need help/advice.

Rundown of me: I'm 30, have TERRIBLE/NO CREDIT.

For as long as I can remember its been my dream to own a BMW M6.

I have 20k in my savings account to finally get one. (Took about 8ish months)

Now here's my dilemma:

I found a 2016 BMW M6 Grand Coupe on Autotrader for $53,885 with 34,484 miles on it.
And after talking with my bank, and telling them I could put down 20k. I did get approved but the terms are:

72 months, with 16% interest, total financed is: $33,885 with $19,038 in added interest, at $736 per month. So the total amount I'll be paying after 72 months is: $72,923. With who knows how many miles added on after 72 months...

OR

Do I purchase this totaled/salvaged title 2016 BMW M6 Grand Coupe with 36,478 miles on it at a salvage/auction yard for MAYBE $1,000? And then dump the 20k that I have in my savings acct into getting it hopefully 100% fixed. The Salvage yard said it DOES DRIVE and DOES RUN.

I understand if it might cost more then 20k to get the car fixed, and I'm fine with it being a salvaged/rebuilt/restored title.

Thoughts??

Here is the totaled 2016 BMW M6
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Old 11-11-2019, 10:55 AM
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Technic Technic is offline
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The best advice was given to you by your bank already. Really listen to them...
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