I just happened across a good refi deal. Basically I'm refinancing with my credit union for 5.49%, making the payments $30 less, saving 1700 or so over 5 years and only extending my payments by one month.
I'm going to be paying, voluntary, $60 extra each month, so that will take care of the extra month anyway. (i was already voluntary paying an extra $30 per month)

I called BMW to see if they could match or beat the 5.49, they said they are offering 5.83 for people with a credit score of 740 or higher. So I went with the credit union.

So, if it makes sense for you, check into refinancing, you could save some money.

I'm seriously considering trading in either at the end of the year, if they offer the 08s for 0% or end of 09 for same situation.

Anyone have any experience with this ? Any advice, or am I on the right track? I'm guessing when the time comes, I should try to sell, not trade in to get the most out of the car.

I've never refinanced a car, nor have I traded in. I've always paid off my cars, and either sold them then bought a new one, or just bought a new one and kept the other one.

 

Tess,
My trade in experience was not warm and fuzzy. I almost didn't get Popeye because I felt screwed by the dealer on my trade (03 Cooper S). My advise sell Toro outright, then look for a new Toro. Not as quick, but at least you get what Toro's worth and are not at the mercy of the dealer.

 

thanks.. I agree.. I still have my Explorer so i'd have transportation between selling and buying the new Toro

 

Do you have anything in mind regarding what you'd want in a new MINI? Have you caught the S bug as Chance did?

 

No, nothing particular in mind. but I do love those Sidewalk edition convertibles, I just don't think I can afford one. After seeing the Clubman, I'm even considering that but it somehow just isn't 'right' if you know what I mean?

I've never driven an S, if I did, maybe I'll catch that bug, who knows.
My thought was to check out whats on the lot starting in november maybe.. see what I like.

I would like different interior, mine's all black, even piano black trim. I want some chrome or soemthing lighter.

The main reason I'm even considering trading in is that I don't think I want to run the risk of something going wrong when the car is out of warranty, too expensive to fix.

by the way, i've had Toro since the end of june, and just hit 20k!!

do you have suggestions??