02-27-2023, 02:38 PM | #1 |
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how to pay for it now???
I don’t like debt and the only debt I have is for my 2020 M2 CS and only because I got .9% for 5 years. Anyone know what BMWFS May have to offer in the coming weeks/months?
May just trade 3020 Mini and pay balance in cash but if there is any cheap money out there…..
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02-27-2023, 05:38 PM | #3 | |
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Bumpinjeep5633.00 Vivek.1367.50 |
02-27-2023, 05:57 PM | #4 |
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Not good enough. Guess cash will do…
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02-27-2023, 06:18 PM | #5 |
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I was planning on financing about 40-45k, but with the long wait I've saved up enough to pretty much pay cash for all of it. I'm probably gonna finance 20k or so just to pay it off in 3-6 months just to boost my credit.
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02-27-2023, 06:18 PM | #6 |
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Yeah, with the federal funds rate the way that it is, I'm not sure if you can get a low % finance deal anywhere for anything. With what the Fed has said recently, it may not go up as much per each FOMC meeting, but go up it will and go down it won't.
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02-27-2023, 06:20 PM | #7 | |
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This isn't necessarily a bad thing as you'll be eliminating debt and I'm assuming it'll only drop by 20-30 pts. |
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02-27-2023, 06:21 PM | #8 |
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Can I ask where you got those numbers? I don't see any lease or finance programs at all for the new M2.
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02-27-2023, 06:47 PM | #10 | |
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My finance rate with BofA is 4.8%. I'm going to finance half (35k) bc I've spent 70k in the last couple months on other stuff Last edited by zero21; 02-27-2023 at 07:54 PM.. |
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02-27-2023, 06:49 PM | #11 |
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That's absolutely horrible but par for the course. I was looking at Jeep Wranglers and they have similar rates from Chrysler. I don't know when rates will come back down but paying anything near 7% is completely unacceptable to me. I'm just so used to cheap money and I think a lot of people are too. This will drive pricing down as monthly payments will be above expectations to most people.
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02-27-2023, 06:57 PM | #12 |
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Honestly it's probably going to be close to the m3 just base it off of that
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02-27-2023, 07:30 PM | #14 |
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I'm going to put $20k down.
The remaining ~$40k will be financed through my credit union, or slowly paid off via trade for hard drugs, hand jobs and chocolate chip cookies. Last edited by FryCookOnVenus; 02-27-2023 at 10:06 PM.. |
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02-28-2023, 08:10 AM | #18 |
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The M2 is one of the vehicles my wife is considering. Navy Federal is offering 4.74% for 60 months. Her M2 build is coming in with a MSRP of $74,550. If we go with the M2 I will pay cash. With our M5 back in 2018 I did a loan at .9% for 60 months and also put 50k down on the M5. I still paid the M5 off in under 3 years. With the M2 paying drive off fees at 4.74%, we will pay $9,329 in interest over the 60 month term. Paying cash for any vehicle is the direction we will go moving forward.
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03-01-2023, 02:31 PM | #19 | |
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This makes me wonder about those who were recently offered HEA units and what rates were offered along with them. Please chime in if you're one of them and don't mind sharing with us |
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03-01-2023, 02:37 PM | #20 | |
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If someone wanted our HEA right now (or any car with an allocation) then we would pull credits and get them locked in at 5.58. If you don't want to get locked in now (or can't because you don't have an allocation like myself) then you are subject to whatever the rates are when your car or allocation gets here. |
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03-01-2023, 02:41 PM | #21 | |
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I've changed my mind so much on this I may even still just do cash but I opened a new CD b/c of the rates and may to take a minor penalty on it if I do more than 60k down. |
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