[BayMoWe335]

Speak of the devil...we just got a text from the dealer asking us to come back in and reconsider. Very vague, not saying he'll take our price.

Trouble is, now he's convinced he might want a 2017 for the redesign. He also went and test drove the CR-V and "maybe likes it more."

The 2017 CR-V will be all new , so maybe he should wait? I'm still trying to get him to think about an X3...no idea when those are going to be facelifted.

[John 070]

When people say don't pay cash, and invest, they should be clear on whether they're implying there is leverage, or not.

Let me say from my own observation, my cousins are all wealthy. I have another wealthy friend from elementary. We can drone on about what is wealthy, is it 1% and less? Is it 5%? etc. (I say you have to be a so-called 1%'er and above, and at the 1% line, not even close)

What all of the above have in common is they have NEVER purchased a new car.

The next thing is that beyond a certain age (probably 30), they all have paid cash for their cars.

My buddy from elementary bought a 6 mil. house in Boston, and his property taxes are 51k (pretty low by NY/NJ standards), so he's not a stupid guy. The other thing that's astounding is how little relatively speaking they owe on their homes, because they dump everything into them to pay down the principal. One could say, don't pay down the principal when your loan is only 2.75%, "invest" instead.

Edit: I'm not wealthy--I've bought 3 new cars, the last was in 2011. I want to try my first used car...the F80.

[BayMoWe335]

Originally Posted by John 070

When people say don't pay cash, and invest, they should be clear on whether they're implying there is leverage, or not.

Let me say from my own observation, my cousins are all wealthy. I have another wealthy friend from elementary. We can drone on about what is wealthy, is it 1% and less? Is it 5%? etc.

What all of the above have in common is they have NEVER purchased a new car.

The next thing is that beyond a certain age (probably 30), they all have paid cash for their cars.

My buddy from elementary bought 6 mil. house in Boston, and his property taxes are 51k (pretty low by NY/NJ standards), so he's not a stupid guy. The other thing that's astounding is how little relatively speaking they owe on their homes, because they dump everything into them to pay down the principal. One could say, don't pay down the principal when your loan is only 2.75%, "invest" instead.

I agree and my brother is in a similar situation. Blocks of $30k are not important as they have so many chunks of cash all around. I pay cash for my cars too because I just don't want to have years of payments on a relatively small purchase.

[John 070]

Originally Posted by BayMoWe335

I agree and my brother is in a similar situation. Blocks of $30k are not important as they have so many chunks of cash all around. I pay cash for my cars too because I just don't want to have years of payments on a relatively small purchase.

I'm not wealthy, and so I have purchased 3 new cars (still have all 3), and I do finance. To keep my "wants" in check, I say to myself put 50% down, finance 50% over 36 mos.

Also, because I'm not wealthy, I have to plan. I've tossed the idea of a new M2 around, I think the car is worth it. Everytime I see a 228 or today a M235i, I really don't like the way the trunk and sides look. So, let's up the ante to a M3/M4.

With a 2 1/2 yr. old, and not being wealthy, the price new is insulting and stupid in my financial situation. So, I expect a F80 to be my first really nice used (other than when I was 18, 20, 22 etc.) car...

[Alfisti]

Even if you break square investing the cash, the point is that you get a better deal.

[BayMoWe335]

Originally Posted by Alfisti

Even if you break square investing the cash, the point is that you get a better deal.

I went to Wharton, so I'm intimately aware of the finance component.

[John 070]

Originally Posted by Alfisti

Even if you break square investing the cash, the point is that you get a better deal.

I disagree--when you have no financing, no trade, you get right to the bottom line. There is very little the dealership can do except to tack on additional fees at the end. They do, by having something pre-printed on the bill of sale, like $300, and in tiny print it states not required by law. If you're really smart, you say let me see your bill of sale (blank)--if there is any number that is preprinted, you subtract it from our number prior to filling out the form. Most of us are too lazy to do so, like saying you want free floor mats. I guess it has to do with class, that is, not going back after the deal is done, and asking for more off. So the form works.

I politely told my SA, hey I forgot to ask you for floormats. She goes you get them anyway, do you want summer or winter? I determined summers list for more so I got them (yes, they are utter crap)....