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12-10-2009, 08:06 AM | #2 |
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12-14-2009, 10:11 PM | #3 | |
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I had a trade-in and wrote a large check. Could have written a larger check and made it $0 - but were better places to put my money with BMW rates in Sept so low. Wrote another check to remodel 2 bathrooms instead. |
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12-15-2009, 06:42 AM | #4 |
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Here in Singapore it costed usd175k for the s35i. a downpayment of 100k means the oustanding amount over 7 years, at the current 2.4%p.a interest rate, im paying exactly 1k a mth.
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12-15-2009, 10:08 AM | #5 |
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man, salaries in Singapore must be crazy. i always hear proffessionals out there buying overpriced cars, you guys must be making some serious coin.
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12-15-2009, 07:12 PM | #7 |
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Those of us in the good 'ole USA don't know how good we have it. Everytime I do an ED and see the prices in Europe for BMWs coupled with $8/gallon petrol I count my blessings!
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12-16-2009, 05:58 AM | #8 |
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import tax is 117% of the car price. Lots of other cost besides the tax, among them, a certificate of entitlement to drive the car.
Did a conversion, its costing $10/gallon of petrol here. you guys really got it lucky in the States. |
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12-17-2009, 12:56 AM | #10 |
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Depends on way too many variables: 35i or 30i, options, negotiated sale price, down payment, interest rate, sales tax rate, finance type and loan/lease term.
Plug these in first, with the exception of the negotiated sale price and then we can give you a ballpark figure. That way we can at least educate you on what to say when the stealership says: "What do we need to do to sell you this car today?" |
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01-28-2010, 08:28 PM | #12 |
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A little over $500/mo. 35i DCT, 3 year lease, msrp ~$60k, residual around $33k
It's going to cost me around $20k for the 3 years total. I'm not sure if I'll buy the car at that point. I don't want to own a car not under warranty. The technology keeps jumping forward and the depreciation is horrible so I figured I'd do a lease this time. Plus I won't have to sell anything if I don't want it at the end If you can get a really low interest rate, then buying might save you some money in the long run. It really depends on what the market for the car will be in a few years. Scott wrote: "I paid cash....... paying interest for anything is just plain stupid!!!" I completely disagree. If you don't have the cash or if you can make more with your cash than the interest cost, then financing is a viable alternate to cash. |
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01-29-2010, 01:17 AM | #13 | |
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However, I remember car makers in the past have given out financing deals at less than 1%. It doesn't take a genius to see that a few years ago you could have bought a car at an interest rate less than putting your money in a T-Bill and if the money is in an IRA, it's tax deferred too. A blanket statement that it's always better to pay cash simply is not true. FWIW, I am not in the finance business and have no interest in persuading anyone to borrow money. Marc |
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01-29-2010, 08:44 AM | #14 | ||
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I'm happy for you that you're loaded, but most of us are not. |
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01-29-2010, 12:55 PM | #15 |
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Pulling $70k out of investments averaging 8% return to pay for a car that I can finance at 1.9% is just plain stupid...
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01-29-2010, 04:05 PM | #16 |
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sorry mate, but this is the dumbest argument in a world wide forum. some people have a Z4 and that's all they can afford, some like you said go over their means, while some (like you, pay cash for everything, which I applaud if you can do it), and then there's some of us who represent the top 1% and still finance because the interest rates vs ROI work in our favor. rethink your generalization.
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01-29-2010, 09:36 PM | #17 | |
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I'd like to know where you can safely earn 8% these days. The U.S. stock market dropped about 7% in the past 2 weeks. My investments lost enough value in the past 2 weeks to buy another Z4.
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