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ok, if i am willing to put 10k down for an m3. how much could i spend for the monthly payments to be around 600? -620? intrests rates are around 7.4? any help would be appreciated. thnks
 

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ok, if i am willing to put 10k down for an m3. how much could i spend for the monthly payments to be around 600? -620? intrests rates are around 7.4? any help would be appreciated. thnks
Well. 10 Grand is a little to much...But thats okay..:)

-It all depends, if you put 10 Grand down for an 04 ///M3 or higher. with all the packages like(Sport package,Premium package, Xeon...etc....) Your lookn at 650 dollars and not more..:4ngie:

-But ^^^^ I think thats with a three year lease.

-If you want to buy it. Your lookn more than 650 a month.
 

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i disagree, i traded in about $8k on my old car plus a warantee and my payments are going to be around 660, so its not that much more.
 

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i put $10k down on my m3, it was an '06 that was pretty well equipped

came out to around $62xxx after dealer fees, taxes, paperwork, blah blah with an interest rate of 6.8% or 9 i dont remember, and my monthly for 5 years is $1087 :cry:

though painful, i love this car and will probably keep it till the wheels fall off
 

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Depending on how many years you want to finance your new "M".
If you want your monthly pmt to be at $620/month for 5yrs with 7.4% and
10K for down payment, then you would looking at a $41k car.
But you can play around with your numbers to see if you are financially comfortable with.
take $600 to $620 for pmt.
7.4 %
60months
then compute for the PV.
Hope it helps...
 

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Discussion Starter #6
thanks guys for your help. im going to finally get an m3 in march, just tryin to figure out what range im in. if u find any coupes with the manual for under 40 i guess let me know, i would appreciate it, thanks again
 

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If you are comfortable living without $10 grand thats great...more equity in the car for your, but I woulnd't spend all of my savings on the downpayment gotta have some cushion just in case. Also if you got a decent credit score 650 or above you can "bargain" on the interest rate too (7.4 is a bit too much if from the dealer). Dealships usually have more then one Bank they can lend you the money from, therefore the 1st bank that approves your credit no matter what the interest rate is they will give you that unless you complain and ask them to try again with another bank.
 

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Discussion Starter #10
yea thats tru, maybe 10k is a little much. Well see, i just want an 03 or 04 with less than 45k miles on it. hopefully i can find a good deal
 

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ok, if i am willing to put 10k down for an m3. how much could i spend for the monthly payments to be around 600? -620? intrests rates are around 7.4? any help would be appreciated. thnks
$47,000 - 10K is $37
payment will be 650 if you have a 6 year loan

if you do a 4 year loan, then you can afford a $27k loan, meaning $37k total on a car

for 5 year, its $32k loan, $42k total on the car

so there ya have it

BAII FTW!
 

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Discussion Starter #13
appreciate it, so if i wana put down 10k at the most, and my payments to be around 620, i need to look for like a 38k car, somewhere around there?
 

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ok, if i am willing to put 10k down for an m3. how much could i spend for the monthly payments to be around 600? -620? intrests rates are around 7.4? any help would be appreciated. thnks
7.4? -that's high
I know that in IL you can get between 6.8 and 7% right now.
 

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Discussion Starter #16
thanks guys, its lookin like somethin around 37-38 i can afford, could i get any 04's with under 40k for that?
 

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Wow it seems as if most people here are against high down payments? can I ask why?
 

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I hate paying anyone interest but I love Ms :D If I pick mine (pretty much loaded '03 with 43,000 miles) up I'm paying $33,000 total but only financing $23,000. 6.5% over 5 years. $450 a month and I'm still complaining.
 
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