Quote:
Originally Posted by Delnari
I compared leasing a new GTS ($89K with options) to buying the '14 S ($68K same options). Though the GTS has some nice standard features and engine upgrade I really only needed just a few options added to my desired car. The lease would have been $1275 with 5,000 miles a year for 3 years (no where as good as BMW leasing). The S is $1060 a month for 72 months. The '14 S looks brand new and drives like it with only 9100 miles at delivery so I went with the cheaper price dream car.
To get the car under book value as quick as possible I will be making $1K payments twice a month. This will have the car paid for by June 2018, or under $50K after 1 year in case something better catches my eye for 2017 model year. Being able to make a large payment each month was easier for me than dropping $30K down on the initial buy; especially since I was able to get a really low interest rate loan.
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+1 on the comparison with leasing / financing the cheaper price dream car.
Whats the advantage of making those larger payments twice a month to get the car under book value as quick as possible?
I have done the same thing bought my X3 for 42k in Aug 14' out the door negotiated originally from 45k, had to pay 3k in sales tax when i registered the car =\ got a loan for 35k and only owe 29k now.