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Old 10-25-2005, 07:43 PM   #61
2005_330xi_BMW
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The only reason I'd pay cash would be if money was so far from being an issue that 40,000 was simply immaterial (0.0something of a %) or if liquidity was my first priority and I could afford that kind of cash.

Sure you could invest the money you have up front, but investing is long term, and if you're tied up in a CD or in portfolio that happens to be down in the short, and disaster strikes.... you're gonna get hit with penalties and loss. If you're car is leased, you'll take even more of a hit. If you're tied up in a loan, you can sell and eat whatever that may be, less than a lease for sure though. But if you're car is already paid for, you can cash out with only depreciation loss, keep your portfolio so it can regain its money, and finish any termed deposit.

On ANOTHER side note, the best way to avoid depreciation is to buy a low mile-used car and not take the 20% "off the lot" avg. loss.

So in reality, if you pay cash for a used car its not all that bad. Depends, again, on the particular financial situation you're in.


ON ANOTHER side note. Capital One and ING Orange are both decent online savings accounts, with 2.5-4% yeilds. So if you want something flexible, and can deal with the restrictions on withdrawals and in some cases mediocre customer service, I'd reccomend them.

Last edited by 2005_330xi_BMW; 10-25-2005 at 07:46 PM.
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Old 10-25-2005, 08:30 PM   #62
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Quote:
Originally Posted by Artan5
cash is and getting your office is good, winning your car in a lottery and winning a yaught in a lottery is even better woot woot
WTF is a yaught? That must be something they only have in Texas.


And on the other hand, like Tenchi said, I find it very hard to believe that so many people in here paid cash for their BMW. Some I really don't doubt. But I don't think that all the people in this thread claiming to have paid cash for their car did actually pay cash for their car. But that is just me.

And as for the original thread starter, unless you are making insane money or bought a shack in Iowa or something, how in the hell do you plan on paying off your house in 5 years? I'm a mortgage broker, and I'm sorry, but that just doesn't happen unless people are extremely well off, and even then it is rare. I know very well of people that don't do that, so I don't quite see how you are planning on that. But I don't know your personal situation, so I'm not saying that you can't do it or that you won't, just basing it on averages and my personal experience in the mortgage industry.
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Old 10-25-2005, 08:33 PM   #63
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damn you... i wish i were that rich... or my parents since they bought the car for me but i know my friend's parents bought him his c230 kompressor in cash... rich bastards....
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Old 10-25-2005, 08:44 PM   #64
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Actually EDawg has the right idea. Leasing can be a good idea, but if you like to mod your car leasing is not the way to go. Buying a new car isn't a good idea, from a financial point of view, as soon as you drive off the lot you've lost money. Probably the best way to go is to pay cash (if you can afford it) for a late model, low mileage used car. That way you've let the original owner lose money on the initial depreciation, you own it so you can mod it all you want and you're not paying the high interest rates associated with used car loans.
Exactly what I do with all cars
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Old 10-25-2005, 08:47 PM   #65
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I gave the financial manager an offical check and they gave me my car.
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Old 10-25-2005, 09:05 PM   #66
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paying cash is stupid, ask any1 who knows anything about investing
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Old 10-25-2005, 09:14 PM   #67
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Quote:
Originally Posted by FunPoliceSam
key word: INVESTOR

now what happens when one of your investments fails (say you dropped it on a stock) and you've got no money and a bmw lease on your hands.

obviously if you have the income and the price of the commodity doesn't affect you or in a very minor way, you won't care and you'll pay cash.

same reason why we don't drive a ferrari....

my parents could easily make the monthly payments on a new one.... but if they lost their job... we couldn't afford it.


aren't you late? you must keep up with the jones. *sarcasm*
I can get a 4% return on my money and ZERO risk.... No-Brainer

$200,000 x's 4% = 8000/yr or 666.66 Month
$100,000 x's 4% = 4000/yr or 333.33 Month
$50,000 x's 4% = 2000/yr or 166.66 Month

No Brainer
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I agree with JonJon.

Last edited by JonJon; 10-25-2005 at 09:18 PM.
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Old 10-25-2005, 09:26 PM   #68
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WTF is a yaught? That must be something they only have in Texas.

Heyyy! Watch it
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Old 10-25-2005, 09:33 PM   #69
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Paid cash for my e46 323i and X5 4.4i. No loan payments are great.
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Old 10-25-2005, 09:34 PM   #70
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Originally Posted by Tenchi
thats funny. I find it really hard to believe that a lot of you walked into the dealer and handed a check for $44k for a car. Now some of you I don't doubt....but the lot of ya....hmmm

I was thinking the same thing. I call on the majority of these (not all, so don't some of you start crying and flaming). I have friends that work in the sales departments of some of the luxury car dealerships (Mercedes, Jaguar) and the number of people that came in and paid cash for their car were few and far between. The ones that did were usually 80 year old fossils that really had nothing else to do with their money but spend it.

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Old 10-26-2005, 01:20 AM   #71
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I susepct someone may soon start a thread like: "Calling E46 owners: who can top my $250k income?".



I've never paid cash for any of the cars I owned ... but my cars are all paid for .. yeah, it was a good feeling .. will I pay cash i the future? probably not.
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Old 10-26-2005, 01:56 AM   #72
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Wow, just wow.

You must be a real baller bro, congrats on being a baller and braggin about it



^^sarcasm.

True rich people drive nice cars but nothing extravogant, don't brag about their cars and don't talk about money. This honestly has to be one of the worst threads I've read in the history of the forum.

Sorry to be a dick, but seriously, financial status is one of those things noone should care about. Half of my freinds are loaded out the ass, the other half are dirt poor, can you tell whos who, sometimes, does it make a difference in how they act or whether or not they are cool people - no.

I paid for my car in cash, with the help of my parents of course (was 17). However, my car was a much smaller investment and has depreciated very little in the time I've owned it.

I'm with Tenchi as well, smells like BS to me.
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Old 10-26-2005, 01:59 AM   #73
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If you have the cash, why not invest it... if you have good credit - get a loan at 4%... return from investment is better then 4% so your money makes money.
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Old 10-26-2005, 10:04 AM   #74
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I have one on par with this BS thread .. months ago over on the Fest.. http://www.bimmerfest.com/forums/showthread.php?t=71044

total horse sh*t.. and I thought that was "the" worst .. well, we got company....

Quote:
Originally Posted by BimmerDude18
Wow, just wow.

You must be a real baller bro, congrats on being a baller and braggin about it

True rich people drive nice cars but nothing extravogant, don't brag about their cars and don't talk about money. This honestly has to be one of the worst threads I've read in the history of the forum.
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Old 10-26-2005, 10:23 AM   #75
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LOL... funny how ppl get so worked up whenever the "m" word creeps up.

wow, didn't know there were so many "investment gurus" on this board. BTW, ppl here consider 4% savings account APR return from ING direct or EmigrantDirect "investment"??

also, why are some of you doubting a lot of folks here who claim to have paid cash?? when i read the responses, it sounds more like everyone has stash of cash saved up but rather "invest" for 20% annual return rather than use it for car purchase.. oh and let's not forget, all this crazy modding everyone here does on their car is an outstanding investment as well..! lol..

Last edited by ProV1; 10-26-2005 at 10:27 AM.
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Old 10-26-2005, 10:40 AM   #76
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Quote:
Originally Posted by ProV1
LOL... funny how ppl get so worked up whenever the "m" word creeps up.

wow, didn't know there were so many "investment gurus" on this board. BTW, ppl here consider 4% savings account APR return from ING direct or EmigrantDirect "investment"??

also, why are some of you doubting a lot of folks here who claim to have paid cash?? when i read the responses, it sounds more like everyone has stash of cash saved up but rather "invest" for 20% annual return rather than use it for car purchase.. oh and let's not forget, all this crazy modding everyone here does on their car is an outstanding investment as well..! lol..

cuz maybe there a lot of us that work in the finance industry?

and the average person does not save up $44k in a blink of an eye. thats more money than what a lot of ppl on here make for salaries after taxes.


So yeah, no offense but its real easy to call BS.
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Old 10-26-2005, 11:09 AM   #77
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Originally Posted by Tenchi
cuz maybe there a lot of us that work in the finance industry?

and the average person does not save up $44k in a blink of an eye. thats more money than what a lot of ppl on here make for salaries after taxes.


So yeah, no offense but its real easy to call BS.
So true. Go to any highend car lot, and they will tell you MOST people lease that come on the lot. From the responses it seems like roughly 50% have paid in cash, 40% finance, and 10% lease. The paid in cash seems a bit high. Even when I glance in the forsale forum, most people are selling their cars for what they owe on this board.
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Old 10-26-2005, 11:40 AM   #78
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People up in Canada will tell you finance or lease is a better idea as our Gov't is $$$ hungry and can get tax benefit from leasing/financing. Beside we don't make as much as you guys do down south.
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Old 10-26-2005, 11:54 AM   #79
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Quote:
Originally Posted by mattclaud
So true. Go to any highend car lot, and they will tell you MOST people lease that come on the lot. From the responses it seems like roughly 50% have paid in cash, 40% finance, and 10% lease. The paid in cash seems a bit high. Even when I glance in the forsale forum, most people are selling their cars for what they owe on this board.
I call BS on a lot of the posts in here. Everyone on here that is
18-21 seems to have bought their car cash, people are paying their houses off in 5 years, blah blah blah. People who buy cars cash are people with extreme amounts of money or people who buy less expensive cars, for the most part. This thread sucks (*then don't post here*, "Foff, I'm just trying to add some commentary and enlightenment").

Why don't we just start a "How much money did you make last month" or "How much money do you have in the bank" or more relevant for a lot of people on here "How much money do you parents make or have in the bank".
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Old 10-26-2005, 03:38 PM   #80
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or more relevant for a lot of people on here "How much money do you parents make or have in the bank".
Yeah, thats the problem I have with this thread. Most of the people pasting that they paid cash really mean "My daddy wuvs me and paid cash for my car. Its really mine ven though its in his name as is the insurance, and if I get bad grades they take my keys away."

Paying in cash is a ridiculous idea for most of the members on this board. My parents pay in cash for cars now because they are able to. They don't trust investments and so they just dump money into CD's, bonds, etc, but they would rather pay everything off if they can.

But again, that doesn't matter, everyone is too obsessed with money, clout, and who's e-dong is longer.

And that thread, thats the reason I absolutely hate answering the question "what kind of car do you have." Either the person knows that its old and cheaper, and thus no effect, or they make a big deal about it - fussing over money = bad in my eyes so it pisses me off. Just like this thread did
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