[theeld]

So I went and test drove a 335i sedan w/sport package today.. automatic.. Great riding car, but not exactly the one I want. Anyway the dealer told me during the test drive that he could get my payments down to 349 a month.. how could this be humanly possible?? I didnt inquire too deep into this since I really didnt want this car, but want one like it.. maybe coupe.. definitely manual... maybe xi.. There has to be some huge drawbacks associated with this amount for payments?? Like a 20 year financing or what?? Anybody know??

[Atombyte]

Very long-term financing ( > 72 months ) or large down payment. You can get a 7 series for $350 / month with enough down.

[niftyhawk]

must be a preowned vehicle on lease

[Jay_328]

They're crooks I tell ya! Seriously, you get a quote of $350 per month and after a test drive in which you fall in love with the car, you'll leave paying $650. He has no clue what your payment will be, too many varaibles involved; credit score, interest rate, money down, length of contract, etc.

So sure it's possible but ya gotta pay up front big -time!

[Carnage]

Originally Posted by theeld

So I went and test drove a 335i sedan w/sport package today.. automatic.. Great riding car, but not exactly the one I want. Anyway the dealer told me during the test drive that he could get my payments down to 349 a month.. how could this be humanly possible?? I didnt inquire too deep into this since I really didnt want this car, but want one like it.. maybe coupe.. definitely manual... maybe xi.. There has to be some huge drawbacks associated with this amount for payments?? Like a 20 year financing or what?? Anybody know??

here's a thought, why don't you ask the guy who made the statement instead of a group of people on the internet who aren't going to do anything more than hypothesize for you.

But since we're just hypothesizing, it's because he's a rich millionaire who's doctor told him to get out more and so he moonlights as a car salesman who like to help people buy BMW's. He's going to give you just enough money to make the payments equal $349 a month.

[jimbethesda]

Don't be a payment shopper. Follow these steps:

1) Negotiate the price of the car (shoot for about $2,000 under MSRP). DON'T pay for any dealer add-ons (rust proofing, clear coat, etc.)
2) Figure out how much you can/want to use as a down payment
3) Search on the Internet for the lowest car loan rate you can find. Credit unions or a pure online bank usually offer the best rates.
4) Use an online payment calculator to figure your monthly payments.

Your payments can be $0/month if you really want them to. Just put 100% down! The monthly payment is just what comes at then end after a math formula. It is NOT what you start with. Car salesmen LOVE payment shoppers as it is easy to hide the true cost of everything.

[jimbethesda]

This is a good loan calculator. Have this tool tell you the monthly payments, not the sales person.

http://www.bankrate.com/brm/popcalc2.asp

If you're going to lease, you can use this one:

http://www.leaseguide.com/calc.htm

[Sal@AUTOcouture]

you can have a Lambo for $350 a month...duh


The more you put down the less the payments are

[Buschy]

Shoping for a paymnet is not a good idea(for you, the buyer anyway)
like the previosu posts said , work a deal on the price of the car, not the payment. payments can be made to fit, an even with raising the car price.
The first question the car salesman asks is what?" what do you want your payments to be"

[sflgator]

Yeah, $350/mo. with ~ $6,000 cap cost reduction or for a 48+ month lease; both of which are just plain stupid for the consumer. The dealer, however, is looking for an uneducated consumer to bite on it.

[Coldintake]

Originally Posted by sflgator

Yeah, $350/mo. with ~ $6,000 cap cost reduction or for a 48+ month lease; both of which are just plain stupid for the consumer. The dealer, however, is looking for an uneducated consumer to bite on it.

The 48 month lease is much more costly to the consumer than the 36 or 24.

[Carnage]

Originally Posted by Coldintake

The 48 month lease is much more costly to the consumer than the 36 or 24.

thanks for the input Captain Obvious....