[Adcampo]

My local dealer has a 2023 M3 manual in stock close to the build i would make. Not the interior color of choice and not full leather.

They offered me $1k discount plus $750 loyalty credit and put a good price on my trade - 18 F80 comp manual.

However, the interest rates are killing me.

I’ll likely pass and wait for the G80 market to cool some and interest rates to come back down.

No real point to my thread, just thought I’d share.

[tatarwj]

Not to make your decision hard because it sounds like you are confident on it, but I would consider that down the road you may not get as nice of an offer for your F80, you could always refinance, and the MSRP could be higher.

If they offered you the 1k off, I’m sure you could squeeze a little more by asking for 2k off and settling for something in the middle (or shooting higher depending on your negotiating skills and their willingness to work with you).

[BzsBimmer]

What’s the rate?

['Cane]

There are credit unions that are offering decent rates, my friend has 3.49% locked in for his incoming G80. Maybe shop a few of those?

[vj123]

One thing to also consider is the MSRP hikes over the years. G80 MSRP has increased by $6k between MY22 and now. So even if the market cools down in the coming years, MSRP is going to go up and i dont think we are going to see 10% discount of MSRP anytime in the near future.

[Hardeight27]

You can always refinance if a lower rate comes along. Aside from that expect new car prices to keep going up for a while.

[robopp]

Originally Posted by Adcampo

My local dealer has a 2023 M3 manual in stock close to the build i would make. Not the interior color of choice and not full leather.

They offered me $1k discount plus $750 loyalty credit and put a good price on my trade - 18 F80 comp manual.

However, the interest rates are killing me.

I’ll likely pass and wait for the G80 market to cool some and interest rates to come back down.

No real point to my thread, just thought I’d share.

Do the math on how much the interest rate is going to cost you and ask for that much off. For example, say 3% is good, but they’re offering you 6%. What’s 3% apy on your loan amount and duration?

[Adcampo]

Some good points from this group.

The deal is 5.99% 60 month Select with a $33750 balloon. I’ve never kept a car more than 2-3 years so I’ll never get to the end.

[BzsBimmer]

Originally Posted by Adcampo

Some good points from this group.

The deal is 5.99% 60 month Select with a $33750 balloon. I’ve never kept a car more than 2-3 years so I’ll never get to the end.

I think 5.99% is their current rate offering as I was also offered this rate yesterday on an X545e top tier credit.

I don’t see any advantage of BMW select then because it’d be the same as just selling a car early with a conventional loan. Either way you take the risk of a lower vehicle value at whatever time you feel like selling it.

You may want to consider a lease then. I was quoted 0.00205 mf which is 4.92% based on 15k miles/yr at 36 mo. Zero down. Again, this is for a X5 but I don’t see an upside of getting a loan and ditching the car in 2-3 years as a habit. My opinion anyway.

[robopp]

Originally Posted by BzsBimmer

I think 5.99% is their current rate offering as I was also offered this rate yesterday on an X545e top tier credit.

I don’t see any advantage of BMW select then because it’d be the same as just selling a car early with a conventional loan. Either way you take the risk of a lower vehicle value at whatever time you feel like selling it.

You may want to consider a lease then. I was quoted 0.00205 mf which is 4.92% based on 15k miles/yr at 36 mo. Zero down. Again, this is for a X5 but I don’t see an upside of getting a loan and ditching the car in 2-3 years as a habit. My opinion anyway.

Current rate is 4.99 60 for top tier credit. Your dealer is likely marking your rate up a point.

[BzsBimmer]

Originally Posted by robopp

Current rate is 4.99 60 for top tier credit. Your dealer is likely marking your rate up a point.

Bastardo’s lol

Well for the X5, BMW shows 5.99%
I have to check the M3 rates. Maybe not bastardo’s after all

Checking the M3, BMW is also showing 5.99% published rate. Either the rate just went up a point or there’s a discount somewhere.

[DocWeatherington]

Originally Posted by robopp

Do the math on how much the interest rate is going to cost you and ask for that much off. For example, say 3% is good, but they’re offering you 6%. What’s 3% apy on your loan amount and duration?

That's not realistic haha

[robopp]

Originally Posted by DocWeatherington

That's not realistic haha

Loan interest on 50k at 3% over 60 months is $3,900. He’s already at $1000 off. Getting another $2k shouldn’t be that hard.

[DocWeatherington]

Originally Posted by robopp

Loan interest on 50k at 3% over 60 months is $3,900. He’s already at $1000 off. Getting another $2k shouldn’t be that hard.

1k in this market is a deal. Asking for 3900 off plus incentives they will laugh. But will say we will give you 2k and then a 1% markup and make up the discount

[robopp]

Originally Posted by DocWeatherington

1k in this market is a deal. Asking for 3900 off plus incentives they will laugh. But will say we will give you 2k and then a 1% markup and make up the discount

You never know until you ask. I’d go in hard at $3k off justifying it with the high APR and see where it shakes out.

[DocWeatherington]

Originally Posted by robopp

You never know until you ask. I’d go in hard at $3k off justifying it with the high APR and see where it shakes out.

Very true...

But the seller is trying to off load the manual F80... It's the art of the deal....likely with a tax break

But the problem is everyone has a high APR no matter if your buying a Honda civic or a Ford Raptor R. It's the fact of life....base rates are high borrowing money from the FED is expensive ... Luxury items are still moving.... The buyer doesn't want to go in asking for high trade value then high discounts as from a seller its a turn off as many will settle for a fare trade, no markup and incentives off.

If the OP cant swallow the APR it's not for them to buy. The only other option is to pay cash or find a better rate with a CU.

[Adcampo]

I’ve bought a couple M cars from this dealer. That’s why I’m even getting a discount. And I’m guessing I could squeeze a bit more off on the discount and/or my trade.

Rates aside, it’s really not the build I want and I hate to compromise. I know myself and I’ll regret it down the road.

Thanks for everyone’s input.

The car is located at Passport BMW in MD if anyone is interested.

https://www.passportbmw.com/new-Marl...3AY00PFP71274#

[e46e39g80]

That’s a great build for the right buyer but generally speaking will be fewer of those folks out there who want a RWD 6MT with all options checked.

[astroricardo]

Interest rates take forever to 'go back down'. They were at historical lows, they were not 'normal'.

['Cane]

Originally Posted by astroricardo

Interest rates take forever to 'go back down'. They were at historical lows, they were not 'normal'.

They’ve been “low” since October 2001 when GM and Ford (followed by others) used 0% to help bring back sales lost to uncertainty in the aftermath of 9/11. That’s 20+ years, I’d say that was normal.

[astroricardo]

Originally Posted by 'Cane

They’ve been “low” since October 2001 when GM and Ford (followed by others) used 0% to help bring back sales lost to uncertainty in the aftermath of 9/11. That’s 20+ years, I’d say that was normal.

For select models that are piling up... not really normal IMO.

I saw a commercial for GMC that they're offering 0% even now.

[iviegatron]

Originally Posted by 'Cane

There are credit unions that are offering decent rates, my friend has 3.49% locked in for his incoming G80. Maybe shop a few of those?

Which credit union is this?