How do you guys pay for your E60s?
03-11-2009, 04:58 AM
#21
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My Ride: 2006 BMW 530xi - Titanium Silver Metallic / Gray Dakota Leather / Dark Poplar Wood Trim / Cold Weather Package / Premium Package / Premium Sound Package / Lumbar Support / Xenon Adaptive Light Control / 6 speed auto - Steptronic Trans. /Sirius Satellite Radio / Voice Activation / Navigation / Moonroof
Back in the late 80's GM had a similar plan here in the States where it was a quasi lease /purchase. Nominal money down with the option to turn the car in at the end of the designated term. I can't recall whether title remained with GM or was vested in the driver. Those types of plans have gone the way of the dodo and been replaced by the now traditional "closed end" lease, where you can agree, at lease termination, to purchase the leased vehicle for a pre-negotiated price which is the assumed residual value of the vehicle at lease conclusion (which is, of course set at lease inception).
More often than not, especially here in the States, most lessees do not opt to purchase their cars out of the lease as the stated "residual value" of the car is actually significantly higher than the blue book "used car" value of the car at the time.
____________________
As for me, I purchased my car and financed it through BMW at 3.9% over 60 months. I get a monthly stipend from my firm for 70% of the monthly payment (reconciled and the amount goes into my column at the end of each year), and I pay the remaining 30%. Not a bad deal, provided the economy does not force us to change the arrangement.
More often than not, especially here in the States, most lessees do not opt to purchase their cars out of the lease as the stated "residual value" of the car is actually significantly higher than the blue book "used car" value of the car at the time.
____________________
As for me, I purchased my car and financed it through BMW at 3.9% over 60 months. I get a monthly stipend from my firm for 70% of the monthly payment (reconciled and the amount goes into my column at the end of each year), and I pay the remaining 30%. Not a bad deal, provided the economy does not force us to change the arrangement.
03-11-2009, 05:00 AM
#22
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Originally Posted by JLinardi' post='813132' date='Mar 10 2009, 09:10 PM
Not asking how much you paid for it or anything just how do you finance it Mainly because im looking at different ways of financing one.
Ive been looking at leasing etc and came across this thing called PCP (personal contract purchase), not sure if they have this over the pond probably do but called something else. ANyway this looks a really good method almost too good to be true, but ive spoke to other people who have cars on PCP and they swear by it. Pay a downpayment at the start (however much you want) then work out a monthly fee over an agreed period of time (example 36 months) then either pay off the balance and keep the car, give them the car back and walk away or exchange the car for a newer model. Does anyone else pay for their car this way, it really does open up alot of doors over what you could afford assuming you can afford the monthly repayments.
ALso on the side im interested to know what jobs you guys do if you wish to share. I seen some guys on here who are like 20-24 who have their own 5ers and its like wow you did good so fast!
Ive been looking at leasing etc and came across this thing called PCP (personal contract purchase), not sure if they have this over the pond probably do but called something else. ANyway this looks a really good method almost too good to be true, but ive spoke to other people who have cars on PCP and they swear by it. Pay a downpayment at the start (however much you want) then work out a monthly fee over an agreed period of time (example 36 months) then either pay off the balance and keep the car, give them the car back and walk away or exchange the car for a newer model. Does anyone else pay for their car this way, it really does open up alot of doors over what you could afford assuming you can afford the monthly repayments.
ALso on the side im interested to know what jobs you guys do if you wish to share. I seen some guys on here who are like 20-24 who have their own 5ers and its like wow you did good so fast!
This thread is like a dating service imo. lol
03-11-2009, 05:15 AM
#23
Originally Posted by JLinardi' post='813132' date='Mar 10 2009, 09:10 PM
ALso on the side im interested to know what jobs you guys do if you wish to share. I seen some guys on here who are like 20-24 who have their own 5ers and its like wow you did good so fast!
03-11-2009, 05:25 AM
#24
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My Ride: '04 530d Executive, all options except sunroof and comfort seats
ECU remapped by ZipTuning to 260+bhp.
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I don't do loans, credit, etc...
(I worked and saved...)
Little addition:
I'm 24 and have owned my own company for 4 years now. We make hardware/software combinations for use in narrowcasting environments (digital signs).
I don't do loans, credit, etc...
(I worked and saved...)
Little addition:
I'm 24 and have owned my own company for 4 years now. We make hardware/software combinations for use in narrowcasting environments (digital signs).
03-11-2009, 05:32 AM
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My Ride: 2007 530i. Purchased 6/28/07. Titanium Silver Metallic, Black Dakota Leather, Dark Poplar Trim, Steptronic, Premium Package, Cold Weather Package, Bluetooth, Adaptive Control Xenons. 10/30/07 Added OEM 124s with 245/40/18 & 275/35/18 Michelin Pilot Sport A/S tires. Installed red Cal Covers� from BavAuto. 11/21/07 Added OEM all-weather floor mats (for winter, carpet in summer) and coat rack. 6/26/08 installed M5-style rear spoiler. 6/30/08 put on red reflectors. 8/22/08 Euro turn signal stickers applied. 3/20/09 Installed Shadowline Trim. 3/27/09 Added Matte Black Kidney Grilles from Trinity. 4/03/09 Installed Bimmian Shadow Matte Black 530i Badges. 4/04/09 Installed LED license plate lights from Trinity. 5/01/09 Installed Brabus Interior LED Kit and White Angel Eyes. 5/02/09 Put in Brabus 6K Fogs. 5/14/09 Removed charcoal filter. 5/15/09 Installed light smoke LED side marker lamps from Trinity. 5/21/09 Sprint Booster. 6/12/09 Painted exhaust tips flat black. 6/13/09 Pulled red Cal Covers and painted calipers low gloss black. 6/27/09 RPI Ram Air Scoop from Trinity. 8/15/09 Installed Brabus's silver invisibulbs front and rear. 9/24/09 Installed R-Dash license plate LEDs from Brabaus (John).
4-year bank loan. It'll be mine in about 27 months, and probably worth about $27.00 as these things seem to depreciate at an incredible rate.
03-11-2009, 05:35 AM
#26
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Yea they do depreciate a hell of a lot at 1st, but they do level off after a bit.
Prices in the UK for between a 04 and a 55 range from ?10,000-15,000 still pretty decent money back for a 4/5 year old car, unless you bought it brand new that is!
Prices in the UK for between a 04 and a 55 range from ?10,000-15,000 still pretty decent money back for a 4/5 year old car, unless you bought it brand new that is!
03-11-2009, 05:45 AM
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Easy 
Started by running a bogus cash business that provided seed money, after which I extorted cash from crooked politicians [there are just so many of them], rolled it into a ponzi scheme bankrolled by friends convinced I was going to make them rich over-night.
Then, two guys from Newark flatbedded a new BMW from a vacant lot to my house ... I paid $30 on Ebay for a fake title, registration, stole the tags from a Honda Civic ...
Anybody want to buy a like-new BMW
Started by running a bogus cash business that provided seed money, after which I extorted cash from crooked politicians [there are just so many of them], rolled it into a ponzi scheme bankrolled by friends convinced I was going to make them rich over-night.
Then, two guys from Newark flatbedded a new BMW from a vacant lot to my house ... I paid $30 on Ebay for a fake title, registration, stole the tags from a Honda Civic ...
Anybody want to buy a like-new BMW
03-11-2009, 06:15 AM
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Originally Posted by luigi524td' post='813510' date='Mar 11 2009, 08:45 AM
Easy
Started by running a bogus cash business that provided seed money, after which I extorted cash from crooked politicians [there are just so many of them], rolled it into a ponzi scheme bankrolled by friends convinced I was going to make them rich over-night.
Then, two guys from Newark flatbedded a new BMW from a vacant lot to my house ... I paid $30 on Ebay for a fake title, registration, stole the tags from a Honda Civic ...
Anybody want to buy a like-new BMW
Started by running a bogus cash business that provided seed money, after which I extorted cash from crooked politicians [there are just so many of them], rolled it into a ponzi scheme bankrolled by friends convinced I was going to make them rich over-night.
Then, two guys from Newark flatbedded a new BMW from a vacant lot to my house ... I paid $30 on Ebay for a fake title, registration, stole the tags from a Honda Civic ...
Anybody want to buy a like-new BMW
Well HELLO THERE MR. MADOFF ! I didn't know you traversed these boards, too! Welcome.
03-11-2009, 06:22 AM
#29
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My Ride: 2008 535i 6 Spd Steptronic, Black Saphire, Natural Brown Leather, Cold Weather pckg, Prem pckg, Sport pckg, PDC, Rear Shades, Ipod w/Usb
Took a 60 month loan from BMWNA, @ 0.9%, however I did opt to leave a 11K payoff balance at the end of the 60 month. I think they called it their BMW Premmium owner finance pkg, or some Bs like that. Very happy with my payment and car. Plan on keeping it, and giving to kids if it last that long. The money I save monthly, will easily be saved and pay the balance @ the end for me! Just a thought.
03-11-2009, 06:23 AM
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My Ride: 2004 545i Sport loaded
Originally Posted by one4thethumb' post='813487' date='Mar 11 2009, 08:58 AM
Back in the late 80's GM had a similar plan here in the States where it was a quasi lease /purchase. Nominal money down with the option to turn the car in at the end of the designated term. I can't recall whether title remained with GM or was vested in the driver. Those types of plans have gone the way of the dodo and been replaced by the now traditional "closed end" lease, where you can agree, at lease termination, to purchase the leased vehicle for a pre-negotiated price which is the assumed residual value of the vehicle at lease conclusion (which is, of course set at lease inception).
More often than not, especially here in the States, most lessees do not opt to purchase their cars out of the lease as the stated "residual value" of the car is actually significantly higher than the blue book "used car" value of the car at the time.
____________________
As for me, I purchased my car and financed it through BMW at 3.9% over 60 months. I get a monthly stipend from my firm for 70% of the monthly payment (reconciled and the amount goes into my column at the end of each year), and I pay the remaining 30%. Not a bad deal, provided the economy does not force us to change the arrangement.
More often than not, especially here in the States, most lessees do not opt to purchase their cars out of the lease as the stated "residual value" of the car is actually significantly higher than the blue book "used car" value of the car at the time.
____________________
As for me, I purchased my car and financed it through BMW at 3.9% over 60 months. I get a monthly stipend from my firm for 70% of the monthly payment (reconciled and the amount goes into my column at the end of each year), and I pay the remaining 30%. Not a bad deal, provided the economy does not force us to change the arrangement.
I think that was called a "Smart Buy", wasn't it?
Anyhow.. I financed my car with BMWFS on a 4 year term. I put a huge chunk down, my payment is only $219/mo.
