BimmerFest BMW Forum banner

1 - 12 of 12 Posts

·
Registered
Joined
·
232 Posts
Discussion Starter · #1 ·
Im most likely going to do so after college in two years... (would be next year..but damn 5 year bachelor....gr...)
i plan on upgrading from my e36 then, so im just wondering what is current for down/monthly, because it most definately will be going down by them...and perhaps moreso with the release of the m3.
thanks a bunch
 

·
Protect your (lug) nuts
Joined
·
4,571 Posts
No, nobody here finances anything. Your idea is the first. Great idea, BTW!! :D

(PS: go to BMWUSA.com or lendingtree.com and use the auto loan calculators to see how much your monthly payment would be after price & downpayment + interest)
 

·
Registered
Joined
·
187 Posts
I would still finance even today, if there were the economic incentive to do so. It's a good way to build additional credit score as you are starting out, as well.

I think it always pays to research the options, even leasing (though that has never worked out for me, since the employer will not pick that up).
 

·
Registered
Joined
·
232 Posts
Discussion Starter · #4 ·
yeah, i drive too much to lease, id most definately go over.

all my friends that have leased hated it, and my friends that financed loved it, so thats what im looking at
 

·
Registered
Joined
·
2,308 Posts
yeah, i drive too much to lease, id most definately go over.

all my friends that have leased hated it, and my friends that financed loved it, so thats what im looking at
You'll still pay for overage even if you finance the car, you just pay for it when you trade it in later or try to sell it. More miles = more depreciation.

If you take good care of your cars, don't drive more than 15-20k/yr, and do not plan on keeping the car for more than 3 years, leasing is a nice option.
 

·
Registered
Joined
·
232 Posts
Discussion Starter · #6 ·
You'll still pay for overage even if you finance the car, you just pay for it when you trade it in later or try to sell it. More miles = more depreciation.

If you take good care of your cars, don't drive more than 15-20k/yr, and do not plan on keeping the car for more than 3 years, leasing is a nice option.
why im not leasing haha
 

·
Registered
Joined
·
187 Posts
Do not finance through BMW. They will rape you.

As a good estimate monthly payment for a 60-month loan at about 5ish percent interest rate..... it's about 2% of what you're going to be borrowing per month.
 

·
Registered
Joined
·
69 Posts
Well with leasing you can pay 0.16 per mile. So lets say you negotiate a 15K per year contract for 36 months thats 45K miles for 3 years, if you want an extra 15K add $2400..

Either way leasing might or might not make sense depending on your financial situation.

But think of it this way.... Leasing a car with BMW (based on a MSRP of $ 42 K ) will cost around 16k USD if you know how to negotiate their fees (This includes 3% sales tax).

If you can afford to part with 16-18k every 3 years for a new maintenance free BMW.

WHY NOT?
 

·
Philosopher-king
Joined
·
2,195 Posts
According to KBB, the difference in the trade in value between a 1993 318is with 150,000 miles and one with 300,000 miles is $150.

Yes, if you drive a lot, buy it and drive the wheels off it!
 

·
Registered
Joined
·
69 Posts
According to KBB, the difference in the trade in value between a 1993 318is with 150,000 miles and one with 300,000 miles is $150.
1993 BMW not a 2000 BMW (well the difference isnt that much.)

5860 (good condition - auto - 150k miles)

5210 (good condition - auto - 300k miles)

How much did a 2000 BMW 3 Series 323i cost back then? 30K?

So in 7 years, your cars value went from 32k to 5500. You lost 29,500. Lets say you were able to drive it up to 200K miles, how much did maintenance cost you? Rotors, Breaks, ETC...

According to edmunds.com a 2002 BMW 325i 5 year cost maintenance costs 6845

So being optimistic.

Buy new BMW back in 2000

MSRP 30k + 1.5K tax + 6.5k (maintenance for 5 years VERY optimistic figure)

everything adds up....upto the point that it would actually cost the same if you had leased 2 new worry free BMW's for a period of 6 years.

moods
 

·
Registered
Joined
·
11 Posts
Leasing vs. buying. BMW has a questionnaire on the BMWUSA website that help you decide. Very much an individual decision. If you decide to lease, I recommend taking advantage of BMWFS multiple deposit program as it will reduce your money factor .007 points for each additional deposit up to 7. Run the numbers and you will see that it results in a strong ROI for cash.
 

·
Registered
Joined
·
58 Posts
can u do security deposits or "deposits" for financing to lower your parents as well? or is it just more down = less payment? lol just wondering :S
 
1 - 12 of 12 Posts
Top