Good to time to buy right now?

[23109VC]

Originally Posted by Sherhart

Agree 100% on not doing a loan. I stopped financing cars a while ago. Also agree that buying these cars is a poor use of funds as there is 100% chance it will depreciate.

But don't agree that stocks are a good place to park money right now. If you bought on the dip in Feb, you did well. But this is a false rally. The bad news has not even started to come out yet. And it's going to be bad, as in holy shit bad. If you're going to lose money on an "investment", might as well wear a smile doing it. That's really why we're all here, right?

Jimbo

How bad do you think it's going to get ?

[Sherhart]

Lots of good articles out there on MarketWatch and a few other financial sites. Last 7 or 8 recessions have had double dips. I don't see why this one would be any different as the bad news won't really come out until we see Q2 financials and unemployment. But if higher unemployment than the Great Depression (already), double-digit drop in GDP, and the small business loan fiasco (Ruth's Chris? Shake Shack? Really?) doesn't scare you, I don't know what will. Current rally is being propped up by the Fed. So what happens when the programs aren't working as intended?

FYI stocks were down about 38% off peak in Feb. The double-dip in the last recession (2008) was 54% off peak. It might not get there, but it's naive to think we couldn't see a 20-30% dip from where we're at today. I love a good recession. Fear drives the stock market a lot more than rational decision making. I see fear and I'm a buyer. I did very well buying the dip in Feb. Will do the same if we see another. Experts are predicting July/Aug.

Jimbo

[Humdizzle]

CS leases (which start April/May 2018) will start to be turned in about a year from now as well. I think their residuals were in the low 60s. Dealers will most likely be putting them up for sale in the high 50s.

Its really going to push down the Comp and Base M3 market. definitely for the DCT guys, maybe not as much for manuals.

[scoale]

Originally Posted by Sherhart

Lots of good articles out there on MarketWatch and a few other financial sites. Last 7 or 8 recessions have had double dips. I don't see why this one would be any different as the bad news won't really come out until we see Q2 financials and unemployment. But if higher unemployment than the Great Depression (already), double-digit drop in GDP, and the small business loan fiasco (Ruth's Chris? Shake Shack? Really?) doesn't scare you, I don't know what will. Current rally is being propped up by the Fed. So what happens when the programs aren't working as intended?

FYI stocks were down about 38% off peak in Feb. The double-dip in the last recession (2008) was 54% off peak. It might not get there, but it's naive to think we couldn't see a 20-30% dip from where we're at today. I love a good recession. Fear drives the stock market a lot more than rational decision making. I see fear and I'm a buyer. I did very well buying the dip in Feb. Will do the same if we see another. Experts are predicting July/Aug.

Jimbo

Agreed. Don't know to what degree QE will mitigate another significant dip but I'm definitely ready to capitalize if this proves to be suckers ralley and we hit new lows later this year. Uncharted territory!

[brocurls]

Originally Posted by scoale

Agreed. Don't know to what degree QE will mitigate another significant dip but I'm definitely ready to capitalize if this proves to be suckers ralley and we hit new lows later this year. Uncharted territory!

Gah, so many good choices once the next dip occurs. So excited to buy back in at a huge discount

[oduli81]

Originally Posted by trbostwick

I think it’s a great time to buy! Deals are out there. I just bought a ‘17 M4 comp pack convertible with just under 19k miles for $52k. There are better deals than that out there, too, but I’ll confess I paid a bit more to get the color combo I liked.

As a side note, I can’t believe there was a discussion about depreciating assets and the legitimacy of financing them on a BMW M4 forum

I just got approved on lease assumption, after they were closed for two weeks. Currently closing on a swapalease, 24 months left, $840 a month on a 90k fully loaded M4.

[ellipsis212]

Originally Posted by NewM3driver

Just wait... the bottom is going to fall out. No one 'needs' an M4. There will be plenty to choose from in a month or two.

Never take a 7 year loan on a used car.

I suppose it depends on how long you plan to keep it (as with all things financed). If you want a special used car for or year or two only then you have to consider monthly cash flow versus equity projection. It makes sense with some cars to pay a small down payment, go 72 months+, then flip it without running up the mileage.

[ONEof500]

Originally Posted by Habber

If you can get a close to 0% finance, long term might work out if you think you can generate better yields with cash left over from a bigger payment.

This is exactly it...keep your money if they will give you money for cheap