|
|
|
View Poll Results: 328i, wait or settle for 435i? | |||
328i for a year | 8 | 19.05% | |
Drive the Lexus and keep checking M3 prices | 30 | 71.43% | |
435i | 4 | 9.52% | |
Voters: 42. You may not vote on this poll |
Post Reply |
|
Thread Tools | Search this Thread |
09-26-2013, 04:30 PM | #23 |
Captain
47
Rep 656
Posts |
Why not just wait to see how much you will actually make from the bonus checks. Then pay of your school loans. Work at your new position and receive your paycheck (with your expected raise) which you can put towards building a nice little savings account. Once you have that money saved look back and see if you really want the car. If by then you still want it, then look for a privately sold car which Iam positive will be way less then what the dealer is trying to steal from you now.
__________________
2011.75 E92 MW/BB extended,ZCP,ZP2,ZCV, IPOD,BMW APPS, Heatedseats,6MT, Edition Black Chrome Grills & Side Gills, CF splitters, CF performance spoiler, CF mirror caps, Turner black anodized pedals, Akropovic Evolution exhaust w/CF tips, Still Undecided on tune, AFE Pro5r, AFE intake scoops, LUX H8
2009 E92 JB/Black 335 xdrive (retired) |
Appreciate
0
|
09-26-2013, 05:24 PM | #24 |
Studying...
36
Rep 860
Posts |
What does your credit look like? If you're just coming out of school I assume it isn't yet 'Excellent' at this point -- so you'll have to factor the (likely) higher interest rates into loan/lease payments you're expecting, or co-sign with your parents to lower the rate.
You're onto something with your Option 3, and also your stated desire to do a Euro Delivery. Allow me to suggest Option 4: Drive the Lexus through the winter, into the spring when ordering for the M4 coupe will likely begin. Use the down payment your parents are giving you, along with at least some of your 5-figure bonus check (maybe 1 of the 2) towards the M4, and order it for Euro Delivery. Doing that will allow you to get it from Steve Thomas BMW or another board sponsor for around $500-$1000 over invoice (if history repeats, and I see no reason why it won't on the M4), because ED orders generally do not come out of dealer allocations. This will also reduce your invoice price by 7% over what it would be for a normal US car. On my 2013 M3, that savings was approximately $5500 -- which covered my plane tickets, and hotel stays in Munich. Can you say free vacation? -- You'll also want to take the loan (not a lease) from BMWFS, even if you don't like their outrageous 3.5% rate, because it'll net you another $1500 in your pocket. You can refinance in 3-4 months and get a better rate elsewhere, but you still pocket those savings. Depending on the down payment amounts and your options/pricing on the M4, your monthly payments could be as low as $500-$750 or so, which should be affordable given the figures you've posted. Finally, doing ED removes any 'drive-off-the-lot' depreciation usually associated with a new car purchase, because of the 7% invoice reduction, so it's the best of both worlds. After the loyalty discount, the BMWFS discount, and the ED discount, I got my new M for what some other threads here are currently asking for 2011s Best of all, you'll be one of the first of us here on the forum with a shiny new M4 Last edited by nullrouted; 09-26-2013 at 05:33 PM.. |
Appreciate
0
|
09-26-2013, 08:52 PM | #26 |
Captain
205
Rep 729
Posts |
Do you really believe the used M3 prices will drop precipitously when the new M3 comes out? First, not everyone with a newer car will have the financial wherewithal to dump their 1-2 year old M3 just to get into a new one, and I predict that most of us are fiscally responsible enough to know that it would be a complete waste of money to take the first two years depreciation on a German car just to trade it for another German car. Second, the M4 will not be available for even longer and most "M3" sales have historically been coupes, not sedans. I would not expect that many current coupe owners will feel overcome with the need to get a new M and go for the sedan. That means that there won't be a sudden oversupply of used E92 M3's on the market.
Then, consider that at the time when the M4 becomes available, it will most likely have a decent price increase over the prior generation. Price increases reduce the pool of potential customers. By the time the new M3/4 becomes available all E9X M3's available will be used and will have normally depreciated. There will also a limited supply of new cars during the months following the release so not everyone who wants to "jump ship" will be able to do so. Don't count on this purported used M3 bonanza. Just save up and drive whatever is cheapest in the meantime if you really want an M3. |
Appreciate
0
|
09-27-2013, 03:52 PM | #27 | |
DHS
169
Rep 3,973
Posts
Drives: 2023 M4, 2020 Land Rover
Join Date: Oct 2010
Location: Disneyland
|
Quote:
Good luck. |
|
Appreciate
0
|
09-27-2013, 04:01 PM | #28 | |
Lieutenant General
922
Rep 15,818
Posts |
Quote:
I had Tier 1 credit and qualified for BMW's top tier when I was 21 and actually still in college (was graduating the month I got my e93 335 back in 09). Now, getting a mortgage or other large loan (construction, large line of credit, equity, etc) will be difficult as they need a longer history. But auto loans are fairly easy if you've had other types of loans that have been paid off (student, CCs paid on time and used often, etc). First time auto loans are a bit difficult to get, but if you are Tier 1 with enough income and other credit history, it's not too hard to qualify for the top tier rates. BMW FS seems to be very lenient from my experience. I've had 5 open Autos with them simultaneous without an issue. Mercedes on the other hand is a PITA, surprisingly Nissan as well (apparently Nissan doesn't like to lease more than 2-3 cars to one individual. Wtf?) For Op: Drive lexus, save the cash, and wait for the right buy. There are lease transfers popping up, either on the forum or swapalease/craigslist/etc. A lease transfer is very simple (I've done it with BMW before). You apply, you get approved, you sign paperwork, you send paperwork, you wait, you get your car (the other party has paperwork to do as well of course)
__________________
|
|
Appreciate
0
|
09-27-2013, 09:21 PM | #29 | |
Brigadier General
1252
Rep 3,688
Posts
Drives: 2021 Supra 3.0 (Past: 2015 M23
Join Date: Aug 2012
Location: San Francisco, CA
|
Quote:
Thank you for enlightening me! I did not even think about an M4 and the ED discount. I have a LOT of family in Europe I want to visit so If all goes as expected I will follow your suggestion. I was approved for 1.9% APR without a co-signer when I was at BMW Pacific thanks to Graduate program which will last until 9/11/2014 so I will be able to use it for M4
__________________
|
|
Appreciate
0
|
09-27-2013, 09:33 PM | #30 |
Brigadier General
1252
Rep 3,688
Posts
Drives: 2021 Supra 3.0 (Past: 2015 M23
Join Date: Aug 2012
Location: San Francisco, CA
|
about $23K in student loans total 15K at 6.8% 3.5K at 6% and another 3.5k at 5.8%. I plan on eliminating all of this debt this year if possible, if not a large chunk and then pay double the required monthly payments. Aren't those interest rates really high?? or do all college loans have those same rates? I remember people telling me college loans wouldn't be more than 3% just a few years back, the rates on the parents loans are 7.8%!
__________________
|
Appreciate
0
|
Post Reply |
Bookmarks |
Tags |
328, 435, college graduate, dealer, e92 |
Thread Tools | Search this Thread |
|
|