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

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Posted by Mike on April 16, 1999 at 17:15:45:

In Reply to: Re: Mine was $32160. I put down $15700. Low payme posted by Joanne M. on April 16, 1999 at 15:16:29:

: 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

Wouldn't it make sense to put the $17500 in a savings account or money market (no financial risk), withdraw the difference every month between your $345 payment and the new higher payment, and have an extra $17500 around in case "something" should happen? Once you give the money to the finance company, it's gone. You can't ask for it back. Just my $0.02.

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