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Re: Mine was $32160. I put down $15700. Low payme (archive)

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Posted by Joanne M. on April 16, 1999 at 15:16:29:

In Reply to: Mine was $32160. I put down $15700. Low payments! posted by Alex on April 15, 1999 at 18:19:04:

: It was almost 50% down on the car (minus tax+licenses+doc fees,etc). It sounds insane, but I wanted $400 a month payments (60 months @ 7.9% APR). I know most sane people would not put down more than 30%, but I have a monthly budget for my car.

: Alex
: 99 323i sport

7.9% ....ouch.

Here I was thinking we were the only ones who put down a big down payment. We also will be putting approx. 50% down on our 323i. Sure, it might make more sense to invest that money, but I don't want to be locked into a high monthly payment in case "something" should happen. We'll be financing $17500 at 6.85% for 60 months for a payment of $345/month (our salesman claimed that he should be able to get that rate...but if not, our credit union is running a loan special at 6.99%)

FWIW, we're in upstate NY.

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