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Originally Posted by CT-Scott
Well, I'm hoping to get out to a dealer about 25 minutes from me sometime within the next few days.
I got a bit depressed today, though. According to KBB, my SC430 should be valued around $11,500 as a trade-in (still nervously anxious to see what some of the dealers actually offer me for it), and I was hoping to get an '06-08 Z4 for under $25K. So, about a $12K difference, give or take. With the super-low loan rates that some of the local credit unions are offering (2% or so), I figured I'd finance that difference. Welp, when I dug deeper today, it looks like they only offer those rates for '09 or newer. There was one credit union that still had a low rate (2.5% I think) for '08. But anything '07 or older, and their rates jump way up (5% or more). Kind of a bummer. I could afford to pay the difference out of pocket, but I'd prefer to keep the cash on hand for other things (e.g., gotta get our driveway paved this year, and that's not going to be cheap).
So that put a damper on things. But I'm still going to pursue test driving a Z4.
Another possibility would be to jump to a newer model. From what I'm seeing online, that would likely jump me up to the $30K and up range. I do like the newer model's hardtop, but am I crazy for saying that I think I prefer the look of the 1st gen? It also seems like the newer gen is more luxury than sports car, and one review I read indicated that BMW overdid it on the power steering assist.
Yet another option might be to jump down to an older model ('03-'05), so that I could pay minimal cash out of pocket. But I'd probably just be deferring slightly handing more money out, as an older model will be more likely to have some sort of issue, need a costly maintenance service (e.g., timing belt), or whatever.
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I found that rates went up about a percent if you were to buy from private party vs a dealer. The lowest rate I could find was 2.9% apr from dealer through Wells Fargo.