04-09-2014, 07:54 AM | #1 |
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f80 M3 vs Student Loans
$69,000 left on my student loan account. Pay it and be done with it (6.8%) or take a stroll down to my local and very unfriendly BMW dealership to place a deposit on an f80 M3?
Ok, GO! Last edited by Falafel Combo; 04-09-2014 at 08:10 AM.. |
04-09-2014, 09:24 AM | #4 |
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How in the f do you have 6.8% interest student loans?!?!?!??!?!
The only reason my student loans are not completely paid off is that they are only 2.1% I put money towards my mortgage payment before that, since my mortgage is slightly higher. If my student loans were 6.8% they'd've been paid off a long time ago. Anyways, the answer is pretty obvious. Pay the student loans off. |
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04-09-2014, 09:27 AM | #6 |
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04-09-2014, 09:29 AM | #7 | |
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6MT vs DCT? Color? |
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04-09-2014, 09:42 AM | #8 |
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You sound like a perfect candidate for leasing lol.
Pay off your loans, buy a house and sock away some earnings for a while. You shouldn't even be considering a car like this. Go buy a used GTI and run it into the ground first.
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04-09-2014, 11:06 AM | #10 | |
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I know crazy, no? The only reason I have 6.8% student loans is because I just paid off the 8.5% ones! Both federal loans BTW. Fixed interest rate. Best part is they do not allow you to consolidate or refinance them. They got me pretty good. |
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04-09-2014, 11:09 AM | #12 | |
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You're right! In a single month I was paying more in interest alone than your M3 lease payment. |
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04-09-2014, 11:10 AM | #13 |
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04-09-2014, 11:21 AM | #14 |
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I've been out of college for close to 20 years now. Looking back thinking about the professors I had and their pompous condescending attitudes, those academic idiots really do live in a bubble lol...
The adage really is true, those who can't do...teach.
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04-09-2014, 11:29 AM | #16 | |
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Go for it, live a little, don't wrap it around a tree. |
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04-09-2014, 11:51 AM | #18 |
never could compete with Lloyd Braun
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Buy cars and hookers.. everything else is just details
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2022 G80 M3 6MT | Skyscraper Gray | Kyalami Orange
2018 F87 M2 6MT | Alpine White (sold) 2016 981 Cayman 6MT | Jet Black (sold) 2015 F80 M3 DCT | Tanzanite Blue | Gold Brown (sold) 2013 E92 M3 6MT | Mineral White | Fox Red/Black (sold) |
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04-09-2014, 11:55 AM | #19 | |
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I hear you. Besides, everything is a payment nowadays. Mortgage, car, insurance, business loans, credit cards. Not a lot of people "buy" stuff. You either finance or lease it. Besides, why would I tie $70,000 cash in a depreciating asset? I prefer to use someone else's money, low interest rates and let inflation work to my advantage. Maybe i'll hold off until interest rates on the f80 become more competitive, and finance it then? The 6.8% just kills all the fun, and wants me to get out of that loan ASAP! |
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04-09-2014, 11:57 AM | #20 |
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04-09-2014, 12:03 PM | #21 | |
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If not you'll be touting the benefits of leasing a car to save face that you can only afford the monthly payment for years to come....
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04-09-2014, 12:03 PM | #22 | |
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I have to say, that with that interest rate, pay the loan up first, then play. I can't get used to this paying for your own education thing, your system sucks big time. |
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