lx470man

iTrader: (1)

So does anyone eles got their pink slip yet? I just decided to pay off the mother F. off cause i want my pink slip, but not only my APR doesnt make sense in paying payments no more, when i could just pay off.

i got 6.39% although its not high but its not low either to me. I never paid anything higher than 4% for finance.

what % did you guys get?

n0th1ng

iTrader: (9)

3.9% and paid off last year sept

lx470man

iTrader: (1)

wow paid off a year ago. You want to pay off mine also?

tryama

Got my pink slip yesterday in the mail. Your APR sounds really high! I had 4.6%.

bnizzle87

I planned the payments since i got the car, and i'll be getting my pink slip in august. mine was kinda high since i was financing it myself, 4.99%.

caymandive

iTrader: (2)

3.9% (60 month loan) here and I have another 2.5 years of payments.

flowrider

iTrader: (9)

Well, I paid cash. Pink Slip was always mine

Lou

Ekorre

that seems like a pretty good rate. Can you pm me how much you financed to get that %? not sure how much I want to put down

TIA

Just sold my m3, picking out an F now!

s4play

iTrader: (2)

Same here, cash is the only way to go...! As long as you have the moola, paying cash is the most sensible way to buy any depreciating asset.

matt310

iTrader: (1)

I had to bring up wiki to figure out what the hell you were talking about. Pink slip usually means you got fired from your job. I've never heard it referred to as the title to a car. Thanks for schooling me

zenbert

if u can invest the money and get higher return than ur interest rate, borrowing isn't a bad route. :-)

if money's no object, the point would be mute.

Ekorre

lol, some would disagree w/that. I learned my lesson after buying a new b6 s4 in cash, that thing depreciated fast and hard.
Now dont flame me for the b6.

you've never seen fast and furious?!

CrazyMPG

iTrader: (4)

paid in full on date of pick up...they were asking for 7% I said no!!!

USBM2011

I disagree, i think paying cash for a depreciating asset is the worst thing you could do.

There is no sensible way to buy a "depreciating asset", but the best in my opinion would be to:

1) Lease, (set amount of interest, not compounding like a finance, plus your only paying for the deprecation this way, not paying the full sales tax upfront either, dont make extra payments because in 2,3,4 years you end up in the same place no matter what)

2) Finance, (cash is KING, the more liquid you are, the more freedom you have to make money on your money, although with a finance your paying mostly interest up front, so you would want to make bigger payments as to cut down the interest over the term)

3) last would be to pay cash, (the car is going down in value no matter what, so may as well keep your cash and make your payments out of your cash, so you can be earning money on your money sitting in the bank at least)

With the first 2, yes you increase your liability, however, your making money on your money, and could use that interest you made, or money you made from investing to pay for a portion of the car payments.

Just look at houses,

if you knew upfront the house would eventually be worth nothing, why would you want to own it? you wouldn't, you would rent it, or LEASE it, letting someone else take the loss.

CDNROCKIES

I also strongly disagree with this.

If I can write off my lease to my company and use someone else's money at a low interest rate (ie. 2.9% with Lexus Financial) I am much better off investing my cash in something that is going to provide a much higher return.

There is nothing "sensible" from a financial perspective, about buying a luxury car.