Cash Money

[imported_Rez_dog]

Did any body here pay for their 1 with cash like no leasing or financing

[Chicago30]

Yes

[felixdahousecat]

here.

[malves85]

Anyone watch that show "yo momma" with the spanish dude from that 70's show?

As soon as I saw the title I had his voice in my head saying "Cash Mooney"


I think im going to finance. I dont have 40k to throw down.

[taylor82]

yep

[Nixon]

If BMW allowed me to buy one, I would have already paid cash for a 123d. But I am having a very hard time justifying the purchase of a 135i.

[bimmerfile]

Yup.. I'll really miss the 3.5% interest I was getting on my GIC...

[Dan203]

I've considered it, but I'm also saving up to buy a new house in a year or two and taking $48K out of my nest egg for the car would really hurt my chances of having enough to put down on the house. So I think I'm going to put about half down on the car and finance the rest. The 4.25% loan through PenFed isn't bad and it will allow me to keep a bigger chunk of my nest egg available for the new house when I need it.

Dan

[Tom K.]

Cash and a Z4 trade.

Tom

[BMW Dreamer]

Much better idea putting more down on the house. It will save you BIG TIME.

Congrats to the cash people.

Maybe I will consider a new Chevy Aveo. I saw one for $7700 brand new. That car I could pay cash for.

[Garris]

Originally Posted by Dan203

I've considered it, but I'm also saving up to buy a new house in a year or two and taking $48K out of my nest egg for the car would really hurt my chances of having enough to put down on the house.
Dan

Yup, house wins every time... Houses usually increase in value, cars decrease... Higher interest rates on the house too...

- G

[josh]

Cash here for the full amount.

[Papethova]

me too

[Bdh821]

Cash baby!!!

[BMW Dreamer]

Originally Posted by Garris

Yup, house wins every time... Houses usually increase in value, cars decrease... Higher interest rates on the house too...

- G

Plus your home loan is usually for 30 years. But I guess many here would be 10-15 years.

[imported_Rez_dog]

yea here is my idea of what i am going to do i got about 42 out of the 45 k i need so when i go to buy it i will wear some really ragged shorts/pants and a dirty shirt so everyone will think "oh he's f***kin poor " then i throw 45k down and drive off with the car in an hour.

[Russo]

Originally Posted by Rez_dog

yea here is my idea of what i am going to do i got about 42 out of the 45 k i need so when i go to buy it i will wear some really ragged shorts/pants and a dirty shirt so everyone will think "oh he's f***kin poor " then i throw 45k down and drive off with the car in an hour.

i wouldn't do that, but being 23, they wouldn't expect me to be able to throw 45k at an entry level car either....

[mrgoochio]

I'll be writing a check for $41,500.00 within the next week or so.

[shawshank772]

yeup, paid cash. Happy living in my little condo, no need for a house when I am single.

[rektek]

Let's say you/I could pay cash. Why? Loans are so cheap now. If you can get low 4% range, keep your cash to invest it elsewhere. Better yet, if you can get a good heloc rate you could write off some of the interest on top of that.

Yes/No?

[Dan203]

That would only be true if you could take the same money and invest it in something guaranteed to return more then the loan rate.

As for the HELOC those tend to have higher interest rates then most standard car loans. Plus recently banks have been reluctant to give out high value HELOCs because of the recent downturn in the housing market. So the only way you'd get a HELOC with a high enough value to pay for the 1er is if you had a LOT of equity in your house or lived in an area which was not effected by the recent market downturn. (are there any?)

Dan

[Oregon]

Thought about paying cash as another hobby/avocation would allow the option, however, while moving a highly-desired collectible would pay for the car, in the long-run, said highly-desired collectible would be gone, plus, the investment vanished. Not so good. With good credit, low-interest rates are readily available, can work to your advantage.