Placed our E90 order today

[Optimus Prime]

330i, PP/CW/Comfrot Access, Arctic/black/Walnut.

Tax/upfront fees $3700(ish)
36/15k = $510/month

We may decide to put less down and roll it in since the MF is good enough that we wouldn't be paying a bunch on interest. We could put as little down as $800 and still be around $600/month.

[rumatt]

Congrats.

My vote: put less down.

[Sharp11]

Originally Posted by Optimus Prime

330i, PP/CW/Comfrot Access, Alantic/black/Walnut.

Tax/upfront fees $3700(ish)
36/15k = $510/month

We may decide to put less down and roll it in since the MF is good enough that we wouldn't be paying a bunch on interest. We could put as little down as $800 and still be around $600/month.

Congrats, I guess your wife enjoyed the test drive.

I still can't believe a lot of you guys pay that kind of money in monthly payments for cars, it's astonishing to me, but I'm old school that way, I can still remember being uncomfortable with car payments at around the 250 dollar mark.

Today, I pay cash or "borrow" the money from myself and pay it back with interest, but I'm not sure it really matters, cars are a losing proposition that we'll always be paying for no matter how you look at it

Ed

[lupinsea]

True enough. Although, I've made up my mind not to buy another new car. I think I'd rather let someone else take the depreciation hit. This experience with the Miata was painful. If I ended up keeping the car for a long time as I originally figured on it wouldn't be that bad but having to sell after 2 1/2 years . . .

[lemming]

Originally Posted by Sharp11

Congrats, I guess your wife enjoyed the test drive.

I still can't believe a lot of you guys pay that kind of money in monthly payments for cars, it's astonishing to me, but I'm old school that way, I can still remember being uncomfortable with car payments at around the 250 dollar mark.

Today, I pay cash or "borrow" the money from myself and pay it back with interest, but I'm not sure it really matters, cars are a losing proposition that we'll always be paying for no matter how you look at it

Ed

first: congratulations, prime. that's a great car!

second: dunno, Ed. while i'm like you and typically pay for everything (house included) up front, there is merit to the notion of not paying in full for things that depreciate. better ways to spend the money and waste it rather than have NADA dictate to me how much money i've just wasted driving a new car off of the lot fully paid off.

but the other side of it, not having the monthly payment and having the title makes it seem "free" to a numbskull such as myself. which then drives the car wanderlust.

[Alan]

How come you didn't let us help you pick out the exterior color, interior color, options of other cars, take 3 yrs to make a decision, etc. etc

Just kidding of course ... congrats !!!!

[rumatt]

Originally Posted by Sharp11

cars are a losing proposition that we'll always be paying for no matter how you look at it

Exactly. Your Z4 is depreciating like a rock regardless of how you paid for it. Playing games with monthly payments to trick ourselves into being happier can be fun, but it's mostly meaningless in terms of the cost to own.

Buying cars with deep discounts, and not turning over quickly are the dominating factors. I'll bet there's a factor of 2 or 3 difference in cost to own over a 10 year period between the two extremes (buy high, trade often, vs buy low and hold).

I'm not saying you shouldn't buy often if you enjoy it, but many folks don't understand the cost... it's hilarious how many focus on monthly payment while ignoring the dominating cost factors.

[Alan]

Originally Posted by rumatt

Exactly. Your Z4 is depreciating like a rock regardless of how you paid for it. Playing games with monthly payments to trick ourselves into being happier can be fun, but it's mostly meaningless in terms of the cost to own.

Buying cars with deep discounts, and not turning over quickly are the dominating factors. I'll bet there's a factor of 2 or 3 difference in cost to own over a 10 year period between the two extremes (buy high, trade often, vs buy low and hold).

I'm not saying you shouldn't buy often if you enjoy it, but many folks don't understand the cost... it's hilarious how many focus on monthly payment while ignoring the dominating cost factors.

You make a good point that overall cost to own over x number of years is the actual real factor in owning a car but there is a peace of mind factor of paying for a car in full at time of purchase. I have done them asll, financed, leased & paid in full and the paid in full in my mind is very comforting plus it's awesome to have no payments each month.

OTOH the one major thing I like with leasing is the feeling of 'who cares' being that it's a lease ... in reality it makes no sense to feel that way since you have the car for the same period of time but for some reason in my mind it's a benefit (plus it is also a legitmate business expense which is always a plus)

[Sharp11]

Originally Posted by rumatt

Exactly. Your Z4 is depreciating like a rock regardless of how you paid for it.

I let the first owner take the big hit, I got it with 3700 miles on the clock - cheap. It belonged to the dealer as his wife's FLA car so it was a private wholesale through the dealership - I could "flip" this car in a year and break even or make a little on it.

Given the quality of cars today, I not as interested in buying new, in fact, with the Z4, I paid 19,000 dollars under the MSRP on a one-year-old car. It's still like new, IMO, same as it would be after about a month or so of buying it new yourself. The nice thing is, it's got options I would never have ordered but fully enjoy like nav and extended leather.

I'm seeing nice savings on E90's with low mileage as well. Given the fact they're going to have the balance of the warranty and a good deal of free maintenance, I'd be buying mine lightly used.

I bought our Subaru Outback new this summer because I got it at a "used" price via a dealer clearance sale in new Hampshire- they even delivered it to out house in CT. Nice.

It pays (sometimes handsomely) to shop.

Ed

[rumatt]

Originally Posted by Sharp11

I paid 19,000 dollars under the MSRP on a one-year-old car.

Nice.