545i HUGE LOSS! Trade for M5? Or Shoot myself?
03-09-2009, 03:55 AM
#51
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Geeeeez you are paying 8%? As a first priority I would think about getting the rate down... WAYYY DOWN. Assuming you have good credit you can look at Penfed and soon enough, the $$ you save on interest will be paying for your mods 
03-09-2009, 04:07 AM
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My Ride: 2004 545i TITANIUM GREY II on Black Dakota Lthr, Comfort Seats, Sports PKG, Premium PKG, Active/Dynamic Drive, NAV, Winter Package.
I agree with Hopco the 545i is a great car and has so much power. Save your money....
Originally Posted by Jrowe' post='810629' date='Mar 8 2009, 09:27 AM
So i've figured it all out... Just the other day I started doing some serious thinking about my financial situation, and what's going on with my car and everything...
I figured it out to be a 9K Loss I have taken on my 545i in only 15 months time of having it. Which made me a little sad. I started trying to thinking about how I can get myself out of this mess before I get any deeper... Since my car just hit the 66k mile range, and the way I'm going by the time this thing is paid off... I'll be at 150,000 miles, and switching to a KIA!
So I decided to go into a dealership, and see what they can do for me... Turns out I'm 15k upside down! not 9K... Apparently 545i's are being picked up at the auctions for roughly around $19,000 with my millage and that's what they base their value's on... So since I owe roughly 34K Still on the car... (Yeah It's not looking pretty).
So basically I owe almost twice what the car is worth... I need 15K cash to hand over just to come up even before I can even think about getting that M5
MAN!
So when it comes to it since this little epiphany I've had where I was happy, and excited before... I now feel locked in an open play ground with 1 wall, where all I can do is run in circles or just run into the wall and end it. HAHA (the car that is)
I'm about to put 4K into my car, and just realized everything I'm doing is just 1 step closer to being a wannabe M5 without the emblem or the beastly engine... I don't think it helps I decided to test drive the damn thing yesterday either
Here's what I'm going to do in the next week.
-M5 Bumper
-M5 Trunk Finisher
-Quad Exhaust
-M5 Fender Grilles
-Trunk Lip And Roof Spoiler
What should I do? Deal with it make the best out of everything take the 5 years to pay the rest of my car off at 760/mo hope nothing goes wrong with my car, do the mods, and be happy.
Fork up 15K to just basically give away +10K down the next time I take a fat one in the toilet. And trade in and get an m5 and be ecstatic about it until my engine blows up?
Am I crazy? What do you guys think...?
I figured it out to be a 9K Loss I have taken on my 545i in only 15 months time of having it. Which made me a little sad. I started trying to thinking about how I can get myself out of this mess before I get any deeper... Since my car just hit the 66k mile range, and the way I'm going by the time this thing is paid off... I'll be at 150,000 miles, and switching to a KIA!
So I decided to go into a dealership, and see what they can do for me... Turns out I'm 15k upside down! not 9K... Apparently 545i's are being picked up at the auctions for roughly around $19,000 with my millage and that's what they base their value's on... So since I owe roughly 34K Still on the car... (Yeah It's not looking pretty).
So basically I owe almost twice what the car is worth... I need 15K cash to hand over just to come up even before I can even think about getting that M5
MAN! So when it comes to it since this little epiphany I've had where I was happy, and excited before... I now feel locked in an open play ground with 1 wall, where all I can do is run in circles or just run into the wall and end it. HAHA (the car that is)
I'm about to put 4K into my car, and just realized everything I'm doing is just 1 step closer to being a wannabe M5 without the emblem or the beastly engine... I don't think it helps I decided to test drive the damn thing yesterday either
Here's what I'm going to do in the next week.
-M5 Bumper
-M5 Trunk Finisher
-Quad Exhaust
-M5 Fender Grilles
-Trunk Lip And Roof Spoiler
What should I do? Deal with it make the best out of everything take the 5 years to pay the rest of my car off at 760/mo hope nothing goes wrong with my car, do the mods, and be happy.
Fork up 15K to just basically give away +10K down the next time I take a fat one in the toilet. And trade in and get an m5 and be ecstatic about it until my engine blows up?
Am I crazy? What do you guys think...?
03-09-2009, 09:29 AM
#53
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My Ride: 2005 545i Sport Package Limo Tinted, Heads up display, Fully Loaded Minus Cold Weather Package and Rear window Sunshades.
Originally Posted by z06bigbird' post='811179' date='Mar 8 2009, 07:28 PM
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?
What school of business you went to?
Okay wait yeah.. What are you hearing??? Where did I say I was broke, or had a shortage of money??? My only statement is that I lost 15k on this deal. I never anywhere said I was broke, and was out of a job, or had no assets to pay my debts? LOL W*F
I'm just looking for advice on my situation, and a better opinion. I've decided leasing would of been my only smart move. And will definitely be my next choice. Thanks Craigm.
Also someone mentioned something about bad grammar... is my grammar bad or something? Or is my choice wording hard to comprehend in any form? Because I've had more than 5 people already get the wrong impression off my posts.
03-09-2009, 09:42 AM
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Originally Posted by jzcrna' post='811196' date='Mar 8 2009, 11:44 PM
Yeah, we need closure! His grammar is atroshus ...I mean atrocious!
03-09-2009, 09:44 AM
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Originally Posted by DrLev99' post='810836' date='Mar 8 2009, 03:26 PM
Just do what Joe did....530ISPORT. You'll have a new car in no time. 
http://forums.e60.net/index.php?showtopic=64033&hl=
http://forums.e60.net/index.php?showtopic=64033&hl=
.. i wish that was the case.... 
.. and for thoes that dont like my spelling dont read it shmuck!!!!!!!!!!!!!!!!!!!!!!!!
03-09-2009, 09:58 AM
#56
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My Ride: 2005 545i Sport Package Limo Tinted, Heads up display, Fully Loaded Minus Cold Weather Package and Rear window Sunshades.
Originally Posted by 530ISPORT' post='811593' date='Mar 9 2009, 09:44 AM
.. i wish that was the case.... .. and for thoes that dont like my spelling dont read it shmuck!!!!!!!!!!!!!!!!!!!!!!!!Oh so that grammar thing wasn't pointed towards me? Ha... I was about to say... Man I had a few run on sentences but jeez!
Yeah I read Joe's thread. The spelling is pretty bad but it shows true character of the situation! How would you be talking if you got your car stolen... Or how about this one... Stolen and the night before your insurance lapsed! Something similar happened to one of my buddies. He Put 20k down on a brand new denali had it for a year. Got a DUI couldn't get insurance without a license. And it got stolen.... OUCH! I know vegas is bad but man it was in the richer area and in a gated housing community!
03-09-2009, 10:12 AM
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Originally Posted by Jrowe' post='811615' date='Mar 9 2009, 01:58 PM
Oh so that grammar thing wasn't pointed towards me? Ha... I was about to say... Man I had a few run on sentences but jeez!
Yeah I read Joe's thread. The spelling is pretty bad but it shows true character of the situation! How would you be talking if you got your car stolen... Or how about this one... Stolen and the night before your insurance lapsed! Something similar happened to one of my buddies. He Put 20k down on a brand new denali had it for a year. Got a DUI couldn't get insurance without a license. And it got stolen.... OUCH! I know vegas is bad but man it was in the richer area and in a gated housing community!
Yeah I read Joe's thread. The spelling is pretty bad but it shows true character of the situation! How would you be talking if you got your car stolen... Or how about this one... Stolen and the night before your insurance lapsed! Something similar happened to one of my buddies. He Put 20k down on a brand new denali had it for a year. Got a DUI couldn't get insurance without a license. And it got stolen.... OUCH! I know vegas is bad but man it was in the richer area and in a gated housing community!
03-09-2009, 10:17 AM
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Originally Posted by 530ISPORT' post='811635' date='Mar 9 2009, 02:12 PM
yea my spelling sucks.. but i dont give a shit.. if anything being on this forum has help my spelling. ha who would of thought a spelling and gramer lesson, and car info at the same time and i didnt even know it
I see it still hasn't taught you the function of the shift key..
03-09-2009, 10:29 AM
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My Ride: 2005 BMW 545i Sport Package, Jet Black
M166 OEM Wheels
M5 Style Body kit
RPI Scoop
BMC Air Filter
Valentine One Radar Detector
35% tint all around
Do you have GAP insurance? Total it! THen you can get M5 for same monthly payment or less... Lol.. just kidding
Anyways i'm in the same situation, man.. I bought the car in July and my numbers (including price and milege) look pretty much the same. It's a lot of people outhere who are in worth situation. i have a friend who still owe 40K for 545i...
Because of recession and fallen auto market prices on cars plunged as much as prices on homes or worse. Now, the only smart move is to get THE WARRANTY - very important - which I got. Then check and see what needs to be repaired before the warranty is up. I put new tires on my car, changed spark plugs etc - AND PREPARE TO LAST LONG> and pay off you car. in 5 years our cars will be still good cars - if taken care off properly. Look at 2002 540i e39 - some of them still look great!
So, don't worry be happy. Stressing too much is not cool. It's reseccion - some people loose homes and jobs. So if you can still aford it - be happy!
Anyways i'm in the same situation, man.. I bought the car in July and my numbers (including price and milege) look pretty much the same. It's a lot of people outhere who are in worth situation. i have a friend who still owe 40K for 545i...
Because of recession and fallen auto market prices on cars plunged as much as prices on homes or worse. Now, the only smart move is to get THE WARRANTY - very important - which I got. Then check and see what needs to be repaired before the warranty is up. I put new tires on my car, changed spark plugs etc - AND PREPARE TO LAST LONG> and pay off you car. in 5 years our cars will be still good cars - if taken care off properly. Look at 2002 540i e39 - some of them still look great!
So, don't worry be happy. Stressing too much is not cool. It's reseccion - some people loose homes and jobs. So if you can still aford it - be happy!
03-09-2009, 02:45 PM
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Originally Posted by Jrowe' post='811579' date='Mar 9 2009, 01:29 PM
Also someone mentioned something about bad grammar... is my grammar bad or something? Or is my choice wording hard to comprehend in any form? Because I've had more than 5 people already get the wrong impression off my posts.