I'm on the fence on this one...
 

Athens Blue G37s
6MT
Premium, Navigation, splash guards

~9500 miles, slightly used, previously leased.

9.4% apr, $849/mo @ 60 months, no money down.

Purchase price of $37,000.

Cost of loan - $13,940

I got approved and everything...I don't like the last number.

9.4% @ $849 for 60 months!!!!!! That's wayyyy to much to be paying for a G monthly. I think you could still get a new one for 0.9%.

Do you need to pay sales tax on top of the $37,000? ...and why no money down? That is a lot to finance and hence your high cost for the money over 60 months.

BAD DEAL! thats way too much. you can probably still get 0.9%.. dealers are trying to get rid of the 08 models so they would give you pretty much what ever you want. All you have to do is act like you don't want the car and say your going to BMW to get a 335 because they have 0.9% financing with no money down and just act like your going to walk out and I'm 85% sure they will come chasing after you giving you a better deal.

I have that mentality already since I already have a car...but would like to upgrade.

I walked last time in the spring when the fallout didn't happen and they were asking for $6000 down on a two-year lease. :dunno:

So perhaps now IFS would accept me? lol

maybe your credit is not so good

According to the current bank, it's great. I don't know what rules IFS has nor any of the other banks since even they are in a state of flux. The volatility of the auto industry isn't helping in the predictability factor either.

Of course, I have more history now so banks have a basis whereas before, I think it wasn't the case.
:dunno:

Dude, that's exactly my monthly payment except that I got the car last November and it was NEW! I don't even have that many miles on it yet!

Unless you are in love with the car, this would be a very bad financial decision!

I almost choked! I am usually a bit more lenient with my post, but I will kindly tell you to tell the dealer to go F*** themselves!

I was paying $849 a month with $0 down on a 2008 335i Convertible, MSRP of $55k.

Good thing you posted on this board prior to your purchase.

May I reccomend NOT financing with the bank? Consider either doing the 0.9% finance, OR call up Eastern Financial or a familiar credit union for a good deal. I just got 4.49% APR from Eastern; I financed a Corolla S for my grandma. :)

Thank you for your responses! :)

I'm in contact with the local dealer now to see how things go.

I'll keep everyone posted. ;)

Awful deal. Buy a new one for that.

dude, get a new one, financing is 0.9% and you can pick up a new one for around $39,000. Trust me, just sit there long enough or go dealer jumping, someone will wanna get rid of their 08s for invoice. I paid $39300 for my $44,020 msrp G37 and I got 0.9% financing.

Bad deal, but athens blue 6mt is a rare car. I dont even think you can get it in 09.

how did they figure that?? it must be a lease??

Yes, it was a lease, but the financing wasn't too far above it. I said $55k was MSRP, I paid under invoice. If I would have financed 72 months, the payment was going to be $870.