what to buy next?
#11
#12
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the positive side is that if you're smart about your finances, a car loan is actually really good for your credit. this isn't a credit forum so i won't bore anyone, but i think most people are aware of what good credit can do for you. you just have to be smart about it.
#13
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My Ride: 2011 535I X-Drive - Space Grey / Black Dakota / M-Sport / Sport Auto Transmission with Paddles / Premium I / Premium II / Cold Weather
Gone: 2010 535I - Alpine White / Black / Sport, Premium & Cold Weather Packages / Anthracite liner / Sport Auto with Paddle Shifters / Navigation / Satellite, HD & I-pod
Gone: 2006 530XI - Monaco Blue / Creme Leather
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The ZR1 rivals or exceeds most super cars' performance, even lesser vettes than the ZR1 (Z06 or any C5 or C6) vette and will typically require you be in an M car to match all around performance...
#14
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My Ride: 2006 550i Black Sapphire
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when a lot of people buy cars, they see the cost of the car to be the monthly payment, not the total cost. if BMW or any other manufacturers offered 10 year financing you would see poorer and poorer people driving BMW's around because they would think their 2008 550i cost 350/mo, not 40k total (plus interest). it's just a simple fact the sticker price isn't what people are concerned with the most, whether that be a house or a car or whatever. the reality is that most people sell their cars before they are fully paid off anyway and start the whole process over again with another car.
the positive side is that if you're smart about your finances, a car loan is actually really good for your credit. this isn't a credit forum so i won't bore anyone, but i think most people are aware of what good credit can do for you. you just have to be smart about it.
the positive side is that if you're smart about your finances, a car loan is actually really good for your credit. this isn't a credit forum so i won't bore anyone, but i think most people are aware of what good credit can do for you. you just have to be smart about it.
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#16
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My Ride: 2008 550I LOADED, all options except HUD and NV
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Paying cash for a car saves a payment but loses you money
#18
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i think the bigger point is though that if you pay your car off and have no car payment at all, that extra cash can be used for other things, or invested, etc.
besides, having a car payment isn't a big deal, but in a couple of years when your warranty runs out, paying $600/mo for a car that required $2k in repairs every 6 months (arbitrary number), means you are losing a lot more cash than you probably anticipated.
#19
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My Ride: 14 550i
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to answer your question, with that reasoning you will always be paying a car loan for the rest of your life. if you're not lucky, one day your trade-in value for a car might be less than your outstanding loan and you additionally lose money on the deal. i.e. a 40k car turns into 40k + interest + outstanding loan amount not recouped in the value of the trade/sale.
i think the bigger point is though that if you pay your car off and have no car payment at all, that extra cash can be used for other things, or invested, etc.
besides, having a car payment isn't a big deal, but in a couple of years when your warranty runs out, paying $600/mo for a car that required $2k in repairs every 6 months (arbitrary number), means you are losing a lot more cash than you probably anticipated.
i think the bigger point is though that if you pay your car off and have no car payment at all, that extra cash can be used for other things, or invested, etc.
besides, having a car payment isn't a big deal, but in a couple of years when your warranty runs out, paying $600/mo for a car that required $2k in repairs every 6 months (arbitrary number), means you are losing a lot more cash than you probably anticipated.