Did you buy your car with cash?

[wooter]

Saving for the future is a nice thing, except... how sure are you that you'll live that future?

On top of that: it's no fun if you're 55 and have a Z4... You can hardly fit in it

One question towards the people paying finances off quickly: I find this odd. Any financing I've done imposes fines on paying your debts off earlier. This because they sell you a product (the financing) and if you pay them off earlier, they miss out on their interest. Hence the fines are as bad as the interest if you just kept paying off at normal speed.

And I rather have 50k in the bank and a financing on a car, than 0k in the bank but a car that's mine. Guess which money is easier to redirect in sudden lifestyle changes. With that money in the bank, the realistic cost of financing is about 1% (savings account interest vs financing interest) and for that one percent, I buy flexibility.

Just my 2 cents...

 

[SonnyZ4]

I financed the 10,142.32 GBP or $16500 it took to buy the car. I went to a regular bank rather than a credit union and even got lower interest rate! I work at Geek Squad doing installations, so it pays well haha!

Im living at home now with my parents while I finish my finance degree at OU. I see no reason to spend about seven grand a semester to live on campus when I live like 30 minutes away from school!

is that the 'Geek Squad' i think it is?

doing home entertainment solutions etc?

a work collegue mentioned starting something similar in the UK :wink:

Ry

Yep!

Except I do car electronics instead of home theatre.

 

[AlanJ]

On top of that: it's no fun if you're 55 and have a Z4... You can hardly fit in it
Just my 2 cents...

Oh hold me back....... Never 'assume' that as you get older you get fat. ASSUME makes an ASS of U and ME! :x

 

[RustyZ4]

Saving for the future is a nice thing, except... how sure are you that you'll live that future?

On top of that: it's no fun if you're 55 and have a Z4... You can hardly fit in it

One question towards the people paying finances off quickly: I find this odd. Any financing I've done imposes fines on paying your debts off earlier. This because they sell you a product (the financing) and if you pay them off earlier, they miss out on their interest. Hence the fines are as bad as the interest if you just kept paying off at normal speed.

And I rather have 50k in the bank and a financing on a car, than 0k in the bank but a car that's mine. Guess which money is easier to redirect in sudden lifestyle changes. With that money in the bank, the realistic cost of financing is about 1% (savings account interest vs financing interest) and for that one percent, I buy flexibility.

Just my 2 cents...

I resent that middle comment, I am 49. work out at the gym 3 - 4 times a week, and can still run 20 miles, trust me I can get in a Z4,

And i would rather pay, than have finance, but that is where the different logics apply, one is my logic, and the other is the finance companies logic

 

[lacroupade]

I take the broader view, i.e. lifes a bitch and then you die people, you DIE!

So long as you can service it, debt is fine if it gets you the things that make you happy. I don't want to be laying in bed one day, old and crappy, pissing my incontinence pants and wishing I'd bought a convertible and driven through France one hot, glorious summer with the woman I love.

So I did it, and now at least I'll be able to smile to myself as I fill my pants

 

[rob davey]

I left uni in a mountain of debt and started to work two jobs, one day job in IT and one night job as a doorman. My routine was up at 7.30 go to work, 12:30 lunch and sleep in car, 13:30 back to work, 17:30 home have food and in bed by 18:00, 21:00 up and back to work, 4:00 home to bed.

I only did nights tues, thurs, fri, sat, but that was enough!

I started to pull my self out of debt and then into the positive. I saved a load of money over 4 years and then bought a flat, bought my car, and quit the night job

 

[PawnSacrifice]

On top of that: it's no fun if you're 55 and have a Z4... You can hardly fit in it
Just my 2 cents...

Oh hold me back....... Never 'assume' that as you get older you get fat. ASSUME makes an ASS of U and ME! :x

Alan, leave it... it's not worth it! Not here. We all said some things... save it for the

 

[wooter]

Don't take it personally My wife, when pregnant of our daughter, had a very hard time getting in and out of the Z4... Same thing for my mom who's 55 and can't get out of the car without help So I ass u me d that the same would be true for other 55yearolds

But my mom doesn't go to the gym...

Life's a bitch and then you die, and I'd rather die in debt than with a whole bunch of savings. Not to say that getting out of uni buried in debt is an ideal way to start saving for a Z4.

Whether financing is for you is up to you. I decided 1% out of 25000€ was not worth the trouble of an empty bank account and stuffed garage .

 

[Sticks]

I left uni in a mountain of debt and started to work two jobs, one day job in IT and one night job as a doorman. My routine was up at 7.30 go to work, 12:30 lunch and sleep in car, 13:30 back to work, 17:30 home have food and in bed by 18:00, 21:00 up and back to work, 4:00 home to bed.

I only did nights tues, thurs, fri, sat, but that was enough!

I started to pull my self out of debt and then into the positive. I saved a load of money over 4 years and then bought a flat, bought my car, and quit the night job

Fantastic, well done. Makes you appreciate it too, I imagine

 

[Bobbydm]

This is what Warren Buffet (one of my idols) thinks about borrowing money,

'If you’re smart, you don’t need it. And if you’re dumb you’ve got no business using it.'

It makes sense but has exceptions IMO.

FYI Warren Buffet was the richest man in the world 2008! Came second in 2009 after he donated billions to charity!

 

[Andy]

Chip'n'Pin, didn't even need ringing for authorisation incredibly, on a debit card 8)

Not bad for a 5 month old £48k car, & I was 28 back then :lol:

 

[AlanJ]

I take the broader view, i.e. lifes a bitch and then you die people, you DIE!

and wishing I'd bought a convertible and driven through France one hot, glorious summer with the woman I love.

Off topic I know but...

Done that, followed by a stunning meal and ........... well lets just say we both woke in the morning .. and will do it again, very soon I hope. EVEN THOUGH 60 is not too far away.

 

[powerontap]

back on original topic, yes.

 

[Z4good]

Good god almighty this is a boring thread!!! Why am I even reading it then,

 

[RustyZ4]

Good god almighty this is a boring thread!!! Why am I even reading it then,

Did I miss something, or did you come up with a better one

 

[lacroupade]

I take the broader view, i.e. lifes a bitch and then you die people, you DIE!

and wishing I'd bought a convertible and driven through France one hot, glorious summer with the woman I love.

Off topic I know but...

Done that, followed by a stunning meal and ........... well lets just say we both woke in the morning .. and will do it again, very soon I hope. EVEN THOUGH 60 is not too far away.

Getting old is no big deal, you're as young as the women you feel..... :lol:

 

[mcbeee]

Usually getting finance you can get a better deal too. My Ex-GF's dad bought a BMW Alpina B5 and he got it 4k cheaper getting their finance package than paying cash, he then let the first payment come out and then paid it all off in full total saving after intrest charge 3k.

To BMW they are selling you 2 products this way not one, so more discount can be given.

You are supposed to get the best price negotiated first, don't say if it's cash, financed or even talk about a trade in until you have the price nailed. After that it's up to you how you come up with the money. I prefer cash if I have it, lease it if I'm unsure of the car(could be a lemon) or finance if I have something else I need the cash for. And, I still don't know how 20 somethings can buy Z's? When I was 20 I had no spare cash and no real credit rating so all I could do was a new 2.8 V6 Capri (financed).

Oh yeah, I did pay cash for the Z, but I'm not 20yrs old and straight out of school either.

On the good side, as long as there are a bunch of youngsters tearing around in Z's, it makes us old farts in them look quite innocent, :lol:

 

[Spud]

I bought my Z about 2/3 weeks after my 23rd birthday in July. I'm a second year teacher with a couple of minor responsibilities (which basically tells you my wage anyway, if you can be arsed). My brother drove me down to London with 11k in cash (from the sale of the A3) in a brown envelope - I felt like a proper drug dealer.

I moved back home after uni to save for a house deposit, but ended up spunking big chunks of it on an RX-8, then an A3 S-Line, then the Z4. Have slowly re-built the fund since July, though! Priority #1 for 2010 is moving out, so the Z is staying for a while! Just deciding how exactly to do it. Although living at home is great (food, washing, no rent - they won't take it, etc.) I really do need to get myself gone. The only grace is due to my busy job and social stuff I'm not here a huge amount of the time.

 

[Sticks]

I felt like a proper drug dealer.

I think you need an X5 for that

 

[Spud]

Haha, I hate those things!

I left uni in a mountain of debt and started to work two jobs, one day job in IT and one night job as a doorman. My routine was up at 7.30 go to work, 12:30 lunch and sleep in car, 13:30 back to work, 17:30 home have food and in bed by 18:00, 21:00 up and back to work, 4:00 home to bed.

I only did nights tues, thurs, fri, sat, but that was enough!

I started to pull my self out of debt and then into the positive. I saved a load of money over 4 years and then bought a flat, bought my car, and quit the night job

Massive respect for this