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Originally Posted by natahoa
You are indeed correct sir! I just looked at it again.
I still have to meet with the to for financing when the car is delivered, but not sure I can change the negotiated price at this point. I’m still in a funk about which loan to choose. Seems like I’ll have plenty of time to stew over it.
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If you already negotiated a price then you it wouldn't be right to try and renegotiate for a lower price.
One of the factors in your case is that the only you are using is from an IRA and assuming it is a traditional one, taking the $60+k out could result in quite a tax bill. If the money was in a Roth or non-retirement investments it probably would be an easier decision.
If it was me, I would finance the minimum amount needed to get the $2k credit and pull the rest out of non-retirement funds. Sure I could lose out on some earnings but then again we could have a downturn and lose the money I would have used to pay for it.
In your case it may be worthwhile looking at a combination of it. Perhaps taking $20k out for a down payment and then financing the rest for 5 years with BMW to get the $2k credit.
In the end it is not much in the scheme of things so just decide what you are comfortable with and enjoy the X5.