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      12-30-2007, 02:45 PM   #1
Jimmyz
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Anyone else getting seriously pissed about pricing...

It's almost 2008 and we still don't have a price for the M3. They are even expecting people to order the car with options without even knowing how much they will cost. Personally, I am deciding between three cars, and the price of the M3 will pretty much help me decide almost instantly. If I knew the price a month or so ago, I could have either decided to get the M3, or decided to get a different car because the M3 turned out to cost too much. If the price of the M3 turns out to cost more than I can afford, I am really going to be pissed. Should we know the price by the end of Jan? I just hope so, or else I may just get another car.
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      12-30-2007, 02:48 PM   #2
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Of coarse we are all agitated, annoyed, pissed off, anxious, whatever you want to call it. I bet that we are going to get the price mid-January.
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      12-30-2007, 02:52 PM   #3
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Quote:
Originally Posted by Jimmyz View Post
It's almost 2008 and we still don't have a price for the M3. They are even expecting people to order the car with options without even knowing how much they will cost. Personally, I am deciding between three cars, and the price of the M3 will pretty much help me decide almost instantly. If I knew the price a month or so ago, I could have either decided to get the M3, or decided to get a different car because the M3 turned out to cost too much. If the price of the M3 turns out to cost more than I can afford, I am really going to be pissed. Should we know the price by the end of Jan? I just hope so, or else I may just get another car.
First of all, I have always expected to get pricing about three months out from customer allocation build dates. These early orders are for dealer demos that dealers are selling to their "top of list" customers. Dealers were most likely asked to spec their demo rides and thus dealers have taken this as an opportunity to secure early bids for the car. In the end its all business....

Expect pricing at Detroit...

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      12-30-2007, 03:01 PM   #4
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When is the Detroit show?
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      12-30-2007, 03:05 PM   #5
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Quote:
Originally Posted by FifthStreetz View Post
When is the Detroit show?
Press days start Jan 13 - would be good timing for a release ... IMO,

http://www.naias.com/SubPage.aspx?id=2647

http://en.wikipedia.org/wiki/North_A...onal_Auto_Show
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      12-30-2007, 05:46 PM   #6
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I agree. The pricing should be announced in Detroit.

If not, I may cancel my order. This is irritating to the extreme.
I hope that someone from BMW is watching this board.
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      12-30-2007, 06:15 PM   #7
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Yeah I agree with being annoyed however, I'm in no rush in getting my M3 because I'm going to order the M-DCT version. In the mean time, I'm saving for a big down payment.

Hope to see the price soon.
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      12-30-2007, 06:28 PM   #8
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Quote:
Originally Posted by Gadgetman View Post
Yeah I agree with being annoyed however, I'm in no rush in getting my M3 because I'm going to order the M-DCT version. In the mean time, I'm saving for a big down payment.

Hope to see the price soon.
My thinking EXACTLY
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      12-31-2007, 03:09 AM   #9
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335i pricing was not released until the car hit dealer showrooms. This does not bode well for getting M3 pricing all that soon. If LA did not have pricing, I see no reason why Detroit would either. Although, we have heard that dealers may get demo cars in Jan.

BMW has their reasons to do this and think it is all about the competiton. The price of the car is really important becuase they have to make it last (along with some small year upon year increases) for the life of the car, which will be about 6 years. No one can judge the economy accurately 1 year out, let alone 6. That being said I do think it is a disservice to many folks who are considering the M3 but have already neeeded to or will soon need to make definitive decisions about their next car or next lease, etc. Without a price most simply will not make a decision (obviously). I'm sure BMW believes that the small pool of folks adversely affected, as well as all of us hardcore enthusiasts who simply really want to know right now, do not represent a large enough sample to feel obligated to our curiousity/anxiousness/desires. You are talking about a half year or so of folks vs 6 years, maybe 8% of the total lifespan buying population.

As much as it sounds like I am defending BMWs ways they still really do piss me off. It makes no sense how folks can be driving the car all around the world and we don't even know our price - IN THE LARGEST M3 market in the world. It helps to keep me from getting too worked up about it when I realize they are in all liklihood behaving in a perfectly capitalistic fashion that is best for them in the long term.
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      12-31-2007, 04:26 AM   #10
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Quote:
Originally Posted by Gadgetman View Post
Yeah I agree with being annoyed however, I'm in no rush in getting my M3 because I'm going to order the M-DCT version. In the mean time, I'm saving for a big down payment.

Hope to see the price soon.
Sorry, but I don't understood those who make any down payment. If you total the car, that money you put down is GONE! Why not save up a bunch of cash and then use that to pay your monthly payment each month. Makes a lot more sense if you really think about it. It's not like you're saving anything doing a big down payment.
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      12-31-2007, 06:08 AM   #11
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Quote:
Originally Posted by BMWCali View Post
Sorry, but I don't understood those who make any down payment. If you total the car, that money you put down is GONE! Why not save up a bunch of cash and then use that to pay your monthly payment each month. Makes a lot more sense if you really think about it. It's not like you're saving anything doing a big down payment.
You are saving interest on a smaller loan.
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      12-31-2007, 06:52 AM   #12
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Quote:
Originally Posted by ILC32 View Post
You are saving interest on a smaller loan.
And losing interest/price appreciation on other forms of investment as the oportuniy cost of the larger down!

There are many ways to analyze the lease/buy/down situation and many variables to consider. Each persons variables will be different as well. One big factor though is if you think you can out invest your loans interest rate.
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      12-31-2007, 08:27 AM   #13
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Quote:
Originally Posted by BMWCali View Post
Sorry, but I don't understood those who make any down payment. If you total the car, that money you put down is GONE! Why not save up a bunch of cash and then use that to pay your monthly payment each month. Makes a lot more sense if you really think about it. It's not like you're saving anything doing a big down payment.
There's nothing to understand... people are going to do with their money whatever they want. If they want financial advice they will get professional financial advice, not Internet forum financial advice.

On topic... regardless of the price announcement of the M3, ADM and strict MSRP demands are going to be the order of the day in most of the dealers from some time. So we will see obviously three groups of potential and actual buyers: one group will buy the M3 regardless of the price. Another -including me- getting the M3 within reasonable distance from that price, as in discounted, and can wait until so is what is relevant. And finally, there will be a group that can only afford the M3 used.

There's nothing to be pissed off...
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      12-31-2007, 01:22 PM   #14
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Quote:
Originally Posted by BMWCali View Post
Sorry, but I don't understood those who make any down payment. If you total the car, that money you put down is GONE! Why not save up a bunch of cash and then use that to pay your monthly payment each month. Makes a lot more sense if you really think about it. It's not like you're saving anything doing a big down payment.
For those of us not using the My First Bank from Fisher Price to finance our cars:
People make a big downpayment so they dont have to pay 7%+ interest on that money. Say the M3 is 70k, and you finance it over 60 months. With no money down the total you pay is 84,000 over 60 months including interest. That is 14,000 in interest alone! (yes that is also a good condition e36 you are just paying for for no good reason).
Make a downpayment of 20k, and you only pay 10,000 in interest. That is 4000 total that you save in interest if you plop down a downpayent. The returns increase as downpayment increases.

Of course if you can invest the 20k in something guaranteed over 7% return per year (and of course you have to figure in taxes on the gains) by all means do that instead. But for MOST people the 20k is better spent as a downpayment.


edit: also if you total the car how is the money gone? you get a check from the insurance company for the whole amount of the car.
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      12-31-2007, 01:37 PM   #15
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Quote:
Originally Posted by burrito007 View Post
Of course if you can invest the 20k in something guaranteed over 7% return per year (and of course you have to figure in taxes on the gains) by all means do that instead. But for MOST people the 20k is better spent as a downpayment.
edit: also if you total the car how is the money gone? you get a check from the insurance company for the whole amount of the car.
Agree w/ all that burrito said. Also, the key word is "guaranteed" 7% after-tax return, ie zero risk. If you can invest in something in, say, a balanced portfolio, and expect to get 8%, then you are taking on some risk for a 1% net. I like to spread my 'bets' & so will put some money down.
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      12-31-2007, 02:21 PM   #16
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If my money market account pays 5.1% and I can get a loan for 3.5%; do I pay cash for the car or do I finance as much as possible? This is for a three year term.
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      12-31-2007, 03:17 PM   #17
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Thats a good question...

Who is giving you 3.5%... how much down?

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      12-31-2007, 03:24 PM   #18
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Quote:
Originally Posted by NavNurs View Post
If my money market account pays 5.1% and I can get a loan for 3.5%; do I pay cash for the car or do I finance as much as possible? This is for a three year term.
Clearly, you finance as much as possible, unless you have monthly cash flow issues coming up (and if you do, don't buy this car). If you do not have an emergency fund for short-term emergencies then financing makes even more sense.

Don't make large down payments unless you have at least 6 months of your house payment/rent, other loans, and all other necessary expenses socked away.

It helps to keep that money at ~4-5% too.


I can get a loan from USAA for 4.94% or Penfed for 5.29% -- these are traditionally some of the cheapest places. Where are you getting 3.5%? That's almost free money.
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      12-31-2007, 04:22 PM   #19
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Quote:
Originally Posted by burrito007 View Post

edit: also if you total the car how is the money gone? you get a check from the insurance company for the whole amount of the car.
Umm actually insurance gives you what they ASSESS the car is worth, NOT what you owe on the car. This is the reason they provide GAP insurance....

My friend bought a brand new 2006 S2k 1.5 years ago and it was stolen 6 mos. after he bought it. He put down around 5k and financed the other 30k or so. Guess how much insurance gave him?? Around 25k...Not only did he lose his 5k down payment, he also still had to make payments on a car he wasnt driving...

Sorry to burst your bubble...
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      12-31-2007, 05:28 PM   #20
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Good to know NavyFed has decent rates, thanks!

http://www.navyfcu.org/
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      12-31-2007, 11:12 PM   #21
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I don't expect to see the pricing of the new M3s until they ship out to dealers.
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      12-31-2007, 11:46 PM   #22
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My guess is we'll see prices/options in mid Jan/early Feb so that those who have 2nd allocations can confirm orders and the April/May deliveries can occur in a timely fashion. I figure those with 1st allocations are willing to pay above MSRP and get robbed/rapped by dealers as some have aleady started posting about a few CA and NYC dealers....therefore BMW NA will probably and can afford to wait until last minute to announce their prices for the M3 as those top tier (1st to own crowd) will pay ANY price they figure to own the initial cars. Just my thoughts...but seems likely.

Besides it confirms what my military sales guy has told me...not to expect price and options on my order to early in 2008..so that means it depends on what ones definition of "early" is doesn't it? LOL

oh an Happy New year to all...may the new Year bring good tidings to all and oh yeah M3 prices!
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