Good to time to buy right now?

[ninekrpm]

I am looking for M50i X5 or X7. The SoCal dealers do not seem to be negotiating much.

[BzsBimmer]

Originally Posted by ninekrpm

I am looking for M50i X5 or X7. The SoCal dealers do not seem to be negotiating much.

Well understandable. At least on the X7, it’s a new model.

[ChuMpion3]

Originally Posted by ninekrpm

I am looking for M50i X5 or X7. The SoCal dealers do not seem to be negotiating much.

They will be begging you to do a deal in a month or so.

[Tommy L Garage]

Originally Posted by ChuMpion3

They will be begging you to do a deal in a month or so.

Agreed. Hold off and you’ll be getting below invoice deals

[2011ninja]

Originally Posted by GoBuckeyes1

Price seems low any accident history? Just picked up M3 2017 comp 29K miles for 48K

Originally Posted by GoBuckeyes1

Price seems low any accident history? Just picked up M3 2017 comp 29K miles for 48K

M4 is typically 15% less expensive than a comparable M3 when I was looking.

[2011ninja]

Originally Posted by Alpine///M4

Crossroads Infinity of Raleigh. I know they could of beat that interest rate. I challenged him on the % & they got it down just a bit to what you see.

3.34% 72 months

Originally Posted by GoBuckeyes1

Price seems low any accident history? Just picked up M3 2017 comp 29K miles for 48K

Originally Posted by Alpine///M4

Crossroads Infinity of Raleigh. I know they could of beat that interest rate. I challenged him on the % & they got it down just a bit to what you see.

3.34% 72 months

That's outstanding just bought a 2016 golf TSI SE got 4.3% and I have excellent credit.

I did not battle on the rate because I got a great deal on the car. Took me a bit to find exactly what I was looking for

Sorry to hi-jack

[PhatLyfe]

I would wait a month or two, there will be dealer surplus as so many people lost their jobs and can't afford to make payments , sad but best time to pick up what your looking for.

[WESTCOASTTRADING]

Originally Posted by trey100

I'm not one to take out a 6 year loan just because I hate having a long term loan for a car but at the end of the day it's all the same math. He basically paid $42k for the car. You can slice it at 3 years and pay 1100 per month or 550 for 6 years but neither is a worse financial decision than the other. Outside of accruing a little more interest, they're the same.

The car still depreciates while you're still making payment on the loan, after 6 years the cars value will be not even half of 42k plus you need to factor in the present value of annuity you are making in the course of life of the loan.
Most people don't take out 6 year financing for depreciating property it is just not smart way to do it. I repeat, it is not smart way to do it.

[trey100]

Originally Posted by 10biie89

The car still depreciates while you're still making payment on the loan, after 6 years the cars value will be not even half of 42k plus you need to factor in the present value of annuity you are making in the course of life of the loan.
Most people don't take out 6 year financing for depreciating property it is just not smart way to do it. I repeat, it is not smart way to do it.

So if you pay cash (at a greater NPV), the car doesn't depreciate the same? You can compare accruing interest with a loan vs rate of return if invested affecting the overall total sum paid, but in either case it has no bearing on the cars depreciating value. That was the point of my post as it was a response to someone stating that the poster's monthly payment was "high for a used car".

[Jason60051]

It's always a good time to buy an M car!!!

[WESTCOASTTRADING]

Originally Posted by trey100

So if you pay cash (at a greater NPV), the car doesn't depreciate the same? You can compare accruing interest with a loan vs rate of return if invested affecting the overall total sum paid, but in either case it has no bearing on the cars depreciating value. That was the point of my post as it was a response to someone stating that the poster's monthly payment was "high for a used car".

My only point is that when you are financing over 6 years for depreciating property is not a good purchase. If you bought with a cash you can recoup and cut off your losses but that is not the case with 72 month loan. Especially given the circumstances how valuable the dollars are right now. I hope you guys save money at the time of crisis.

[trey100]

Originally Posted by 10biie89

My only point is that when you are financing over 6 years for depreciating property is not a good purchase. If you bought with a cash you can recoup and cut off your losses but that is not the case with 72 month loan. Especially given the circumstances how valuable the dollars are right now. I hope you guys save money at the time of crisis.

If you finance rather than pay cash, you still have the money in the bank so it's the same difference. In fact if you invest wisely you come out ahead. Paying "cash" and losing investable assets isn't always a good move. Half the argument for leasing is exactly not to use your cash to fund a depreciating asset. One that could be in an accident tomorrow and be worth even less. The money paid in cash vs financing is the same except for what I mentioned (finance rate versus what you could get with your cash in an investment). Everything else is mental (and that's the only reason I don't like these long term financing schemes). Now if you are taking a 6 year loan because you can't really afford the vehicle, well that is a different problem.

Anyway, let's just agree to disagree. I'd rather not waste more space here on a minor topic.

We all love our BMWs and that's what matters.

Stay well my friend.

[WESTCOASTTRADING]

Originally Posted by trey100

If you finance rather than pay cash, you still have the money in the bank so it's the same difference. In fact if you invest wisely you come out ahead. Paying "cash" and losing investable assets isn't always a good move. Half the argument for leasing is exactly not to use your cash to fund a depreciating asset. One that could be in an accident tomorrow and be worth even less. The money paid in cash vs financing is the same except for what I mentioned (finance rate versus what you could get with your cash in an investment). Everything else is mental (and that's the only reason I don't like these long term financing schemes). Now if you are taking a 6 year loan because you can't really afford the vehicle, well that is a different problem.

Anyway, let's just agree to disagree. I'd rather not waste more space here on a minor topic.

We all love our BMWs and that's what matters.

Stay well my friend.

I'm sorry but if you have money in the bank why would you finance over 6 years for 4 year old car without warranty? And if you finance rather than cash that means you still have cash? How do you justify that? That makes no sense. Loan is given based on your credit and your future cash flow based on income. I'm not trying to argue but what you are saying Doesn't make any sense. I'm solely talking about the 6 year loan on almost 5 year old used car isn't smart way to buy the car. I don't see how hard it is to understand this logic.

[DRLane]

Originally Posted by 10biie89

I'm sorry but if you have money in the bank why would you finance over 6 years for 4 year old car without warranty? And if you finance rather than cash that means you still have cash? How do you justify that? That makes no sense. Loan is given based on your credit and your future cash flow based on income. I'm not trying to argue but what you are saying Doesn't make any sense. I'm solely talking about the 6 year loan on almost 5 year old used car isn't smart way to buy the car. I don't see how hard it is to understand this logic.

I think the point is - Lots of people will finance items they have the cash to pay for. Assuming you're able to generate a return with that cash in excess of the interest you pay for the loan.

That said, if you're only option is to finance a 5 year old car over 6 years. Probably not the best financial decision and might suggest you can't actually afford the car.

[trey100]

Originally Posted by DRLane

I think the point is - Lots of people will finance items they have the cash to pay for. Assuming you're able to generate a return with that cash in excess of the interest you pay for the loan.

That said, if you're only option is to finance a 5 year old car over 6 years. Probably not the best financial decision and might suggest you can't actually afford the car.

Thank you. I guess I wasn't clear.

[2011ninja]

Originally Posted by DRLane

I think the point is - Lots of people will finance items they have the cash to pay for. Assuming you're able to generate a return with that cash in excess of the interest you pay for the loan.

That said, if you're only option is to finance a 5 year old car over 6 years. Probably not the best financial decision and might suggest you can't actually afford the car.

Originally Posted by trey100

If you finance rather than pay cash, you still have the money in the bank so it's the same difference. In fact if you invest wisely you come out ahead. Paying "cash" and losing investable assets isn't always a good move. Half the argument for leasing is exactly not to use your cash to fund a depreciating asset. One that could be in an accident tomorrow and be worth even less. The money paid in cash vs financing is the same except for what I mentioned (finance rate versus what you could get with your cash in an investment). Everything else is mental (and that's the only reason I don't like these long term financing schemes). Now if you are taking a 6 year loan because you can't really afford the vehicle, well that is a different problem.

Anyway, let's just agree to disagree. I'd rather not waste more space here on a minor topic.

We all love our BMWs and that's what matters.

Stay well my friend.

Originally Posted by DRLane

I think the point is - Lots of people will finance items they have the cash to pay for. Assuming you're able to generate a return with that cash in excess of the interest you pay for the loan.

That said, if you're only option is to finance a 5 year old car over 6 years. Probably not the best financial decision and might suggest you can't actually afford the car.

Hmmmm 1st world problems

I bet there is a debate right now on the Ferrari forum.

Why would you by a 488 that makes no sense you can't afford that. Get the 458.

[sna66]

6 yr loan, 3 year loan, cash, the car is going to depreciate regardless. If you are that concerned about what you are paying/ losing on a car, then buy a toyota corolla, you will get excellent value and it will be extremely reliable and last you forever. I'm here to enjoy this short life, I want to enjoy every second of looking/ driving my car. I refuse to wait till retirement age to drive me dream car.

[NewM3driver]

Originally Posted by Alpine///M4

Crossroads Infinity of Raleigh. I know they could of beat that interest rate. I challenged him on the % & they got it down just a bit to what you see.

3.34% 72 months

72 months? To pay off a used car? The car will be NINE year old when it is paid off... THREE years out of warranty?

Wait a year. See where the world is. SAVE money. Get some good financial advice and buy some promising stocks a few shares every month.

It will feel better getting it when you are in a better position. You really don't want to take a 72 month loan on a car.

[NewM3driver]

Originally Posted by 2011ninja

Hmmmm 1st world problems

I bet there is a debate right now on the Ferrari forum.

Why would you by a 488 that makes no sense you can't afford that. Get the 458.

My buddy bought a 458 with 2800 miles. A cool quarter million. It is a real hoot to drive. When you get on it the wail makes your hair stand up.

[f82Truong]

Nah just get it now. I yolo'd a 20 mineral grey zcp with exec pack for 72.5 otd. 60 months @2.9

[2011ninja]

Originally Posted by NewM3driver

72 months? To pay off a used car? The car will be NINE year old when it is paid off... THREE years out of warranty?

Wait a year. See where the world is. SAVE money. Get some good financial advice and buy some promising stocks a few shares every month.

It will feel better getting it when you are in a better position. You really don't want to take a 72 month loan on a car.

Originally Posted by NewM3driver

72 months? To pay off a used car? The car will be NINE year old when it is paid off... THREE years out of warranty?

Wait a year. See where the world is. SAVE money. Get some good financial advice and buy some promising stocks a few shares every month.

It will feel better getting it when you are in a better position. You really don't want to take a 72 month loan on a car.

I'm checking these formulas from my sons math class to see the most financially responsible way to buy a depreciating asset.🧐

[sna66]

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