Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

You do not come out ahead by taking the loan after accounting for additional insurance costs and taxes. You cannot buy liability only insurance when you have a loan on the car. You are spending a minimum of an extra $500 a year on car insurance due to this car loan. Then you pay income taxes on the interest from a HYSA. If you income tax rate is relatively low that 5% is equal to a 3.75% yield after taxes. Under the most optimistic assumptions, the spread between your HYSA rate and the car loan rate is 0.76%, so you would need to have a car loan balance of 65k to break even for wasting $500 on extra insurance coverage. Any car that cost 65k+ will cost more than an additional $500 to insure with full coverage. Conclusion, borrowing money for cars makes you poorer.

Very few people will own a newish car without comprehensive and collision on it, regardless of loan or not. That’s silly.

Sure the 5% may not cover the loan, but the money could be put into stock market, or used for other purposes which would require a higher interest loan than the auto loan, and keeps you more liquid.

A 2.99% rate is very good and worth it; whether buying a car for $65k when equally functional cars can be had for $30k is a different question

BMW had been a problematic brand but had jumped on reliability

https://www.thedrive.com/news/bmw-among-top-3-most-reliable-brands-in-consumer-reports-ranking-for-first-time

So that is good. But maintenance and any repairs will be pricey.

It's not silly, if you have the cash to replace it. Insurance makes money because the expected value of insurance payouts is lower than the annual premium. Self-insuring is always a winning strategy for the average person unless the insurance is underpriced.

Do most people have $70k just sitting around on cash?

Anyways any good rates non manufacturer specific?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

You do not come out ahead by taking the loan after accounting for additional insurance costs and taxes. You cannot buy liability only insurance when you have a loan on the car. You are spending a minimum of an extra $500 a year on car insurance due to this car loan. Then you pay income taxes on the interest from a HYSA. If you income tax rate is relatively low that 5% is equal to a 3.75% yield after taxes. Under the most optimistic assumptions, the spread between your HYSA rate and the car loan rate is 0.76%, so you would need to have a car loan balance of 65k to break even for wasting $500 on extra insurance coverage. Any car that cost 65k+ will cost more than an additional $500 to insure with full coverage. Conclusion, borrowing money for cars makes you poorer.

Very few people will own a newish car without comprehensive and collision on it, regardless of loan or not. That’s silly.

Sure the 5% may not cover the loan, but the money could be put into stock market, or used for other purposes which would require a higher interest loan than the auto loan, and keeps you more liquid.

A 2.99% rate is very good and worth it; whether buying a car for $65k when equally functional cars can be had for $30k is a different question

BMW had been a problematic brand but had jumped on reliability

https://www.thedrive.com/news/bmw-among-top-3-most-reliable-brands-in-consumer-reports-ranking-for-first-time

So that is good. But maintenance and any repairs will be pricey.

It's not silly, if you have the cash to replace it. Insurance makes money because the expected value of insurance payouts is lower than the annual premium. Self-insuring is always a winning strategy for the average person unless the insurance is underpriced.

Keeping $60k liquid every year just in case I need to buy a car would probably cost as much as my insurance premium.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

The word is "vain," not "vein."

There is no such thing as an "elite brand." You have been overspending on cars for decades, so understandably you are high on marketing. If you enjoy it, good for you, but don't confuse being in debt on a consumable with a declining value with affluence.

Your first and foremost contribution is to unnecessarily remark upon an obvious autocorrection error. This speaks volumes (i.e., reads: nitpicking BigLaw clown with limited intellect and a demonstrable lack of fiduciary prowess).

This is further evidenced by your nonsensical attempt to associate overspending with a draw to marketing. The only people that consider the purchase of a BMW to be synonymous with overspending are the ones lacking the technical sophistication to differentiate various engineering and manufacturing grades (again, a strong indicator that you’re an easily fooled consumer that lacks the skills necessary to differentiate between 1𝜎 and 3𝜎 accomplishments).

Ultimately, this is a testament to priding one’s self on being a cheapskate with no realizable advantage. Because while you were doing this five years ago, I took the $90K I could have spent on a new BMW and instead invested it in the market. That $90K became $208K and the loan I secured cost $1600/month for 60 months and ran a total of $96K. After taxes on long-term capital gains, I’m looking at a net investment profit of about $88K…which is well worth the $6K premium I paid for the car loan and almost enough net profit to buy a second BMW.

Next time, either do your homework…or pay a STEM professional to do it for you so you can land somewhere in the vicinity of a correct answer and profitable path forward.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

You do not come out ahead by taking the loan after accounting for additional insurance costs and taxes. You cannot buy liability only insurance when you have a loan on the car. You are spending a minimum of an extra $500 a year on car insurance due to this car loan. Then you pay income taxes on the interest from a HYSA. If you income tax rate is relatively low that 5% is equal to a 3.75% yield after taxes. Under the most optimistic assumptions, the spread between your HYSA rate and the car loan rate is 0.76%, so you would need to have a car loan balance of 65k to break even for wasting $500 on extra insurance coverage. Any car that cost 65k+ will cost more than an additional $500 to insure with full coverage. Conclusion, borrowing money for cars makes you poorer.

Very few people will own a newish car without comprehensive and collision on it, regardless of loan or not. That’s silly.

Sure the 5% may not cover the loan, but the money could be put into stock market, or used for other purposes which would require a higher interest loan than the auto loan, and keeps you more liquid.

A 2.99% rate is very good and worth it; whether buying a car for $65k when equally functional cars can be had for $30k is a different question

BMW had been a problematic brand but had jumped on reliability

https://www.thedrive.com/news/bmw-among-top-3-most-reliable-brands-in-consumer-reports-ranking-for-first-time

So that is good. But maintenance and any repairs will be pricey.

It's not silly, if you have the cash to replace it. Insurance makes money because the expected value of insurance payouts is lower than the annual premium. Self-insuring is always a winning strategy for the average person unless the insurance is underpriced.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

1. Of course you have.

2. Vain

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

The word is "vain," not "vein."

There is no such thing as an "elite brand." You have been overspending on cars for decades, so understandably you are high on marketing. If you enjoy it, good for you, but don't confuse being in debt on a consumable with a declining value with affluence.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

You do not come out ahead by taking the loan after accounting for additional insurance costs and taxes. You cannot buy liability only insurance when you have a loan on the car. You are spending a minimum of an extra $500 a year on car insurance due to this car loan. Then you pay income taxes on the interest from a HYSA. If you income tax rate is relatively low that 5% is equal to a 3.75% yield after taxes. Under the most optimistic assumptions, the spread between your HYSA rate and the car loan rate is 0.76%, so you would need to have a car loan balance of 65k to break even for wasting $500 on extra insurance coverage. Any car that cost 65k+ will cost more than an additional $500 to insure with full coverage. Conclusion, borrowing money for cars makes you poorer.

Very few people will own a newish car without comprehensive and collision on it, regardless of loan or not. That’s silly.

Sure the 5% may not cover the loan, but the money could be put into stock market, or used for other purposes which would require a higher interest loan than the auto loan, and keeps you more liquid.

A 2.99% rate is very good and worth it; whether buying a car for $65k when equally functional cars can be had for $30k is a different question

BMW had been a problematic brand but had jumped on reliability

https://www.thedrive.com/news/bmw-among-top-3-most-reliable-brands-in-consumer-reports-ranking-for-first-time

So that is good. But maintenance and any repairs will be pricey.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

You do not come out ahead by taking the loan after accounting for additional insurance costs and taxes. You cannot buy liability only insurance when you have a loan on the car. You are spending a minimum of an extra $500 a year on car insurance due to this car loan. Then you pay income taxes on the interest from a HYSA. If you income tax rate is relatively low that 5% is equal to a 3.75% yield after taxes. Under the most optimistic assumptions, the spread between your HYSA rate and the car loan rate is 0.76%, so you would need to have a car loan balance of 65k to break even for wasting $500 on extra insurance coverage. Any car that cost 65k+ will cost more than an additional $500 to insure with full coverage. Conclusion, borrowing money for cars makes you poorer.

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

Who is bragging? We’ve owned BMWs for decades and have never encountered any significant problems or issues. This is propaganda spread by owners of Toyotas, Hondas, and similar shïtbox cars and SUVs in a vein attempt to throw shade at the more elite brands.

Further, HYSA rates are still close to 5%. Only a moron wouldn’t take advantage of a 5-year 2.99% fixed rate loan.

Anonymous wrote:

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

I actually like a nice long term loan; I’ll invest the difference in stocks or CDs earning 4-8% or more.

I am curious about bank loans though, and what prevailing rates are on a loan on a car without manufacturer incentives. We want a particular car, we aren’t switching to a BMW because they have good rates.

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

I can't believe you are bragging about a 5-year car loan, particularly on a BMW, with its reliability statistics. Good lord.

We went looking last week and were offered 0% for 60 months on a VW Tiguan.

Anonymous wrote:We just bought a new BMW yesterday and got $1000 off plus a 60-month loan at 2.99%.

So like 1% off MSRP and promotional APR from BMW?

https://www.bmwusa.com/special-offers.html

That’s just a promotion on a very expensive car with lots of markup.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

This is a manufacturer’s promotion. They’re losing money on the loan to off load excess cars.

Can I get one on a RAV Hybrid or CRV Hybrid, I think these are less popular since everyone goes electric?

Don't be lazy. Go to the Honda and Toyota websites. They're promotions, so they advertise these things. However, those are two of the top selling SUVs in the US.

I see some okay rates on their website — I was wondering if the dealers might get less advertised promotions to incentive deals and how to ask for those?

No. Dealers don't get super secret interest rates from captive auto lenders. Dealers would much rather you finance through them and their partner banks, where you'll pay a higher interest rate and the dealer will take a cut.

What do you mean partner banks? Isn’t dealer financing alway through the manufacturers financing arm, like Honda Financial or Ford Credit?

No. Dealers will finance you through various banks and they’ll take a cut of the APR.