2014 GTL only $248/month - BMW Luxury Touring Community
 
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post #1 of 14 Old Jun 18th, 2014, 10:12 am Thread Starter
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2014 GTL only $248/month

So, I was at my local dealer the other day looking at some gear and noticed the tag on the '14 GTL that was sitting on the floor. It said "Only $248 per month. See rear of card for details" The math wasn't adding up in my head so I flipped the card over and the details were a 20% down payment and a 49% balloon payment at the end of the financing period! It did make me stop and look, so I guess the advertising play worked......

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post #2 of 14 Old Jun 18th, 2014, 10:29 am
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Re: 2014 GTL only $248/month

Yep it's the 3Easy system. Of course they'll offer to finance that balloon payment too. Got us to look too.

Chris Ehlbeck
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post #3 of 14 Old Jun 18th, 2014, 6:17 pm
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Re: 2014 GTL only $248/month

Typical deceiving marketing; BMW should be ashamed of using those used-car sales tactics. But at least you folks were smart enough to actually look behind .

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post #4 of 14 Old Jun 18th, 2014, 6:55 pm
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Re: 2014 GTL only $248/month

You mean some people finance vehicles. Other than my home if I can't pay for it I don't buy it.

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post #5 of 14 Old Jun 18th, 2014, 6:55 pm
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Re: 2014 GTL only $248/month

It's not deceiving, if you only pay $248/month. Down payments, balloons, and interest rates are just details . . .

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Some people see the gas tank as half empty. Some see it as half full. All I care is that I know where the next tankful is coming from...
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post #6 of 14 Old Jun 18th, 2014, 7:23 pm
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Re: 2014 GTL only $248/month

You can cut it anyway you want to, but it is a very shady way of getting people to believe they can afford something when they really can't. Typical watch this hand while I steal your wallet with the other. Sad tactics to boost sales.......sounds like home sales tactics that were widely used not too long ago.

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post #7 of 14 Old Jun 18th, 2014, 7:23 pm
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Re: 2014 GTL only $248/month

In that case it could have been $10.00 a month for 36 months with a small balloon payment at the end....small is relative!

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post #8 of 14 Old Jun 18th, 2014, 8:24 pm
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Re: 2014 GTL only $248/month

So 5,000 dollars down, and the interest rate and terms are? Just curious how hard they are screwing people.


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post #9 of 14 Old Jun 18th, 2014, 10:41 pm
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Re: 2014 GTL only $248/month

Sounds like a modified form of leasing, but you are forced to pay the residual at the end, instead of just turning it in…
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post #10 of 14 Old Jun 19th, 2014, 4:35 am
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Re: 2014 GTL only $248/month

Quote:
Originally Posted by saddleman View Post
You mean some people finance vehicles. Other than my home if I can't pay for it I don't buy it.
+1. I am amazed that our financial system so strongly encourages the financing of assets that depreciate rapidly. Bad practice.

I only finance when people give me the money for free such as true 0% auto deals (watch for hidden fees though), or the float on using my CCs and then paying in full each month. I will use OPM if there is no cost to me.

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post #11 of 14 Old Jun 19th, 2014, 6:36 am
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Re: 2014 GTL only $248/month

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Originally Posted by Voyager View Post
+1. I am amazed that our financial system so strongly encourages the financing of assets that depreciate rapidly. Bad practice.

I only finance when people give me the money for free such as true 0% auto deals (watch for hidden fees though), or the float on using my CCs and then paying in full each month. I will use OPM if there is no cost to me.
Seems like the thread is diverting a little, but from a personal point of view, I see nothing wrong with credit, when used correctly. My grandfather actually took me to a bank, at a very early age, to set up a savings account and also borrow some money that I did not need. I paid it back on time and established credit for myself at a very early age. Education is the key.

It is what has allowed the economy to expand and raised the standard of living for many. It has made the difference in my life and millions of others.

When not used correctly, it is like a bad drug and has also wrecked lives and effected economies. I agree though, to buy something that is depreciating on credit, up front might seem like a bad idea, but, we all have hobbies and there is always a cost. Just the price of admission.

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post #12 of 14 Old Jun 19th, 2014, 12:33 pm Thread Starter
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Re: 2014 GTL only $248/month

I'll always take 0% interest over paying in cash. You actually make money using someone elses money as long as yours is earning interest or dividends somewhere. I just set it up on autopay and forget about it.

Also, with good credit comes low interest rates. I financed my LT with a sub 3% interest rate from my credit union. I earn more than that on my money between my 401K, IRA accounts and investments. Gets even better when you compound those earnings over the loan period.

The other benefit of financing is mitigating risk. With the lender writing the check for the bike, they are now sharing in the financial risk. If something happened to the bike, you're still obligated to repay the loan, but there's an opportunity to negotiate the repayment that wouldn't be there if you had just paid cash.

Used wisely, credit can be beneficial.

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post #13 of 14 Old Jun 19th, 2014, 11:00 pm
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Re: 2014 GTL only $248/month

Was curious about the details, for the S1000RR they are:

Quote:
Originally Posted by BMW Financial
The $219 monthly payment is based on $16,345.00 MSRP + destination / amount financed, 48 month contract, 4.99% APR, 90 days to first payment, $500.00 down payment and $8,499.40 balloon due at the end of the term.


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post #14 of 14 Old Jul 8th, 2014, 12:43 pm
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Re: 2014 GTL only $248/month

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Originally Posted by Gruivis View Post
Was curious about the details, for the S1000RR they are:
Yikes!!!

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