craigm1841

some camaros will sell for over 100K

craigm1841

"As of Jan 17th 2009, a REAL ZL-1 Copo, dark green, re-bodied, went for $290,000 at the Barret Jackson Auto Auction Lot 12773. Mr. October Reggie Jackson was bidding on this car but didn't win it. Another yellow, original body, non original heads with Auto transmission for $270,000. Both are said to be a steal and the deals of the show."

jzcrna

I was a couple of thousand upside down on my 2008 335i in December, but needed a bigger car with a new baby, etc. so I started looking at 06 550s when they started those big incentives in October. The 550s were very hard to find and I was also concerned about the previous treatment of a used car, so I started looking at 09 535s. A bit more than I really wanted to spend, but I plan on keeping this car well past its loan end. Have geico extended warranty and my buy the extended maintenance. I went from 4.9% to .9% financing. I also got a deal that was $4,000 under MSRP on a car that met all of my criteria and options that was already on a boat on the way over. So I felt very comfortable with the deal due to the fact that I saved a grand total of $7,000 to lessen my hit. I miss my 335i, but I am married with child and did not want to drive my wife's acura SUV everywhere. Its paid off so we are not getting rid of that vehicle. The 535i exceeds all expectations. So here is MY advice:

Talk to a board sponsor at Bimmerfest.com. My salesperson was Adrian Avila from BMW of South Atlanta. Pay for a plane ticket and drive the new car home!! Last I heard, he was giving screaming deals on M5s. You can PM me if you want his contact info.

$15000 is a lot of money as anyone will tell you. But then again, how smart is it to stay in an 8% loan when you could qualify for less than 3% financing?

If you can save at least $ 10,000 on a new car with the addition of great financing, I would GO FOR IT! I would not continue to do this every couple of years though.

NOW is the time to buy new and save lots of money. Just my 2 cents.

I really like the new 550s with the Sport package also, you may want to consider this instead of the M. I feel that the M5 is a wealthy person's luxury. It is expensive out of warranty (even more so than a regular BMW) so I personally would not get it as a daily driver. Just my opinion, though.

Good luck. Don't feel like you have to purchase a new car, but I think it would not be a terrible decision so long as you got a great deal from a board sponsor and with the economy the way it is. If you are recession proof go for it!

craigm1841

With the economy the way it is, i dont know if someone will finance him on for a vehicle rolling over 15K onto a new loan. he'd better have a hefty down payment or some super steep discounts on the new ride. It will be hard to finance a 60K car for say, 75K.

jzcrna

That may be true. Something I didn't think about. I don't know how critical BMWFS is. I would give it a shot though and see what they say. Yeah, a couple of thousand is one thing, but 15,000 is very steep and they may not see the "logic" in it. But I guess it would boil down to his credit worthiness. If he has a stellar score, maybe. I am certainly not a finance expert by any stretch of the imagination.

craigm1841

yeah. it is a big risk. no banks may be willing to lend that much $$ for a car worth significantly less. you may be able to do a gap coverage drug deal...

wait... i am not trying to convince the OP to make a purchase and roll over debt. I am very against that!

z06bigbird

Note to OP. I just want to understand what I am hearing. First, you are complaining about the ton of $$ you spent on car, car payments, being upside down, and shortage of $$ in general. Then you are going out to spend more $$ on mods.

What school of business you went to?

pgetsch

hahahaha.....thats great

craigm1841

there is no way i can go through 37 pages of that thread, what the hell is the deal with it? it just stopped in JAN with no outcome

jzcrna

Yeah, we need closure! His grammar is atroshus ...I mean atrocious!