[Multimodal]

Originally Posted by Limegrntaln

I was mainly putting the money down, because why pay $1,600-$1,700 a month for a lease. I'm at $103K. It's not that its not manageable, I'd just rather be at $1,300-$1,350.

The financial rationale is called "time value of money." A dollar spent today is more expensive than a dollar spent tomorrow because you can save/invest money and earn income/interest from it. You're better off putting the $10K in a money market account or S&P 500 ETF and setting up your $1600 lease payment to be paid in two parts, $1300 from your checking account and $300 from your investment account. At the end of 3 years you'll likely find yourself with some free money leftover in the investment account.

[Limegrntaln]

Originally Posted by Mr. Maboomba

The financial rationale is called "time value of money." A dollar spent today is more expensive than a dollar spent tomorrow because you can save/invest money and earn income/interest from it. You're better off putting the $10K in a money market account or S&P 500 ETF and setting up your $1600 lease payment to be paid in two parts, $1300 from your checking account and $300 from your investment account. At the end of 3 years you'll likely find yourself with some free money leftover in the investment account.

That would be a great idea, if I knew how to do any of that, I would.

[richrich121]

Originally Posted by jailonacs99

Same here. My 2022 AWD car is still in transit but I put in my application before August 2nd just in case rates go up.

Finance Manager confirmed I've locked in 0.9% at 60 months, so I know I have that option if I decide to finance with BMW.

is this for BMW select or traditional financing?

[Limegrntaln]

Originally Posted by richrich121

is this for BMW select or traditional financing?

I'm going down to the dealer, tomorrow and I need to decide if I'm going to do this same thing, or not. I have a bad feeling about the August 2nd rates.

[KiloCo]

TrevorM3 Said: For example, we built my brothers m4, submit the order etc.. since it's an individual order, it wont be here for 90 days. So no sense putting in a credit app right now, as it will expire (60 days EC) before the car gets here... And I will have to resubmit and pull credit again. Now, I'm not sure if some dealers may want you to pull credit before they give you an allocation, to show that you are serious etc.. because that is a different ball game. You would have no choice.

TrevorM3, "i had no choice"...... after visiting several dealerships in southern California (LA has 10 within 30 min apart)Irvin, Riverside, San Diego, Escondido just to name a few.... i just went with the CA that offered the car at MSRP. Everyone else in the Los Angeles area is 5k,10k,15k...above MSRP. Everyone wants a deposit and they will run your credit( No thanks) So after 90 days of waiting I got the production number last week.

Todays, thread gave me additional idea's because this is my first BMW I will purchase. Additionally, i walked into the dealership with printed copies from "MyFico" web site showing my score from all 3 credit agencies. I have no debt! I was offered 1.9 APR on a purchase from BMW financial. However, after reading this thread ( Limegrntaln, Gfit) I will e-mail the CA tonight and ask about the credit run X 2)

I will go back with updated FICO scores when I get a VIN number, After I take delivery of the car... 10 days later, I'm going to my own bank/credit union for the pay off. Not leasing the car or buying another BMW/ Its new home is the Garage.

[barryc365]

Originally Posted by aznvpo4sho

Hey guys, long-time lurker here. However, I decided that I wanted to purchase a BMW M4 Competition pretty soon. I live in the Las Vegas area and talked to the two dealerships here in the local area.

The best one I found was MSRP for an allocation with a $5K for the allocation spot, which will go towards the downpayment of the car. A document fee of $550.00, a title fee of $29.25, and a Nevada state tax of 8.375%. The interest rate for 5 years was 2.9%. What do you guys think? I feel like this is a pretty good deal with COVID going around. I wasn't sure if I can get below MSRP at the neighboring state with the Nevada state tax or lower state tax.

Unless your credit is bad they're jerking you around on the interest rate.

[luckylingy]

Originally Posted by Mr. Maboomba

The financial rationale is called "time value of money." A dollar spent today is more expensive than a dollar spent tomorrow because you can save/invest money and earn income/interest from it. You're better off putting the $10K in a money market account or S&P 500 ETF and setting up your $1600 lease payment to be paid in two parts, $1300 from your checking account and $300 from your investment account. At the end of 3 years you'll likely find yourself with some free money leftover in the investment account.

+1 .. excellent advice. If you bank online, just set up a pair of recurring payments to BMW FS (one from each bank account, as Mr. Maboomba suggests). If you don’t know how, just ask your financial institution.

But whatever you do, don’t make a large down payment on a lease. (I do a down payment only to make the monthly figure a round number, like $1,500 instead of $1,523.78. But that’s just me.)

[jailonacs99]

Originally Posted by richrich121

is this for BMW select or traditional financing?

Traditional

[M3PGH]

Originally Posted by Mr. Maboomba

The financial rationale is called "time value of money." A dollar spent today is more expensive than a dollar spent tomorrow because you can save/invest money and earn income/interest from it. You're better off putting the $10K in a money market account or S&P 500 ETF and setting up your $1600 lease payment to be paid in two parts, $1300 from your checking account and $300 from your investment account. At the end of 3 years you'll likely find yourself with some free money leftover in the investment account.

you forgot one big assumption : market keeps going up
S&P ETF goes down with the market , and market corrections can last few years
also MM accounts are paying zero interest , so paying some money down in today's environment is not completely crazy
in usual times , I agree it is usually not a great idea

[MKParris]

Originally Posted by Mr. Maboomba

The financial rationale is called "time value of money." A dollar spent today is more expensive than a dollar spent tomorrow because you can save/invest money and earn income/interest from it. You're better off putting the $10K in a money market account or S&P 500 ETF and setting up your $1600 lease payment to be paid in two parts, $1300 from your checking account and $300 from your investment account. At the end of 3 years you'll likely find yourself with some free money leftover in the investment account.

Money Markey = 0 return.

Also - does anyone know what the tier 1 money factor is?

[Gfit]

.00093

[jttBimmer]

I've had a 2016 M3 on lease (got a super lucky deal working through these forums, one of first 2016s in country) and then re-upped on a 2018 M3. I was considering moving off to something else but now reconsidering my considering.

I have a dealer who says he has allocation (skeptical) and they are telling me 3-4 months for build. I'd probably do PCD delivery since that was a blast the first time.

At this point if builds are 3-4 months out (true?) and rates will be changing I can't really lock in on a rate now right? Best I can do is agreement to base no-markup MF right?

Maybe it's because others are saying it but I have a feeling (based on nothing) that rates are going up when updated.

[Gfit]

Originally Posted by jttBimmer

I've had a 2016 M3 on lease (got a super lucky deal working through these forums, one of first 2016s in country) and then re-upped on a 2018 M3. I was considering moving off to something else but now reconsidering my considering.

I have a dealer who says he has allocation (skeptical) and they are telling me 3-4 months for build. I'd probably do PCD delivery since that was a blast the first time.

At this point if builds are 3-4 months out (true?) and rates will be changing I can't really lock in on a rate now right? Best I can do is agreement to base no-markup MF right?

Maybe it's because others are saying it but I have a feeling (based on nothing) that rates are going up when updated.

Hard to predict. Interest rates were headed higher for a few months because of
inflationary fears but then dropped back down again. Rates rarely change drastically in 3-4 months. A little up or a little down.

[Sedan_Clan]

F.Y.I….San Antonio BMW has a Skyscraper Gray M4 that will hit the dealership next month. I didn't ask about all of the options, but if you're interested, give them a call (…ask for Edgar). They also have a few allocations being sold at MSRP.

[TCBavarian]

Originally Posted by Sedan_Clan

F.Y.I….San Antonio BMW has a Skyscraper Gray M4 that will hit the dealership next month. I didn't ask about all of the options, but if you're interested, give them a call (…ask for Edgar ). They also have a few allocations being sold at MSRP.

Might want to edit out the phone number. Not sure he wants his number posted online for spam reasons. But always good to see quality referrals!

[Sedan_Clan]

Originally Posted by TCBavarian

Might want to edit out the phone number. Not sure he wants his number posted online for spam reasons. But always good to see quality referrals!

Edited, but you'll need to edit your quote. He is open to anybody calling or texting him though.

[Sedan_Clan]

Originally Posted by jailonacs99

^^ Now it's in the quote

Yeah, that's why I suggested he edit it. ☺️ Somebody get that Skyscraper Gray car before it's sold.

[jailonacs99]

Originally Posted by Sedan_Clan

Yeah, that's why I suggested he edit it. ☺️ Somebody get that Skyscraper Gray car before it's sold.

I mean it's in your quote of his quote. At least I can still see it there on mobile

[Sedan_Clan]

Originally Posted by jailonacs99

I mean it's in your quote of his quote. At least I can still see it there on mobile

I removed it from mine, so he has to edit his and remove it.

[jailonacs99]

Originally Posted by Sedan_Clan

I removed it from mine, so he has to edit his and remove it.

I think once you quote a quote, it's just text in your quote, it doesn't draw from the original post anymore. So you'd have to edit your qoute's quote. Quoteception.

[Sedan_Clan]

Originally Posted by jailonacs99

I think once you quote a quote, it's just text in your quote, it doesn't draw from the original post anymore. So you'd have to edit your qoute's quote. Quoteception.

Yes, that is true. That's why he'll have to edit my post within his post.

[TCBavarian]

Originally Posted by Sedan_Clan

I removed it from mine, so he has to edit his and remove it.

This is funny. I removed it but now you have to edit your quote of mine 😂