Need help deciding to buy or not!

Should I pull the trigger?


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    22
  • Poll closed .

Tabaresu

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UPDATE:

So quick update (not that anyone cares lol) ended up transferring my lease on my current car to someone else for basically just transfer fees and placed my deposit on my 2021 PMM CTR! It all sort of happened all at once, super excited! Car should be here before the end of the month!


Original post:

Hey so I have had a hard time getting my hands on a CTR new for awhile (mainly because I didnā€™t want CW) so I ended up in another car last year.
Out of the blue I started calling around recently and found a dealer that Had a 2021 coming in that was unclaimed (I suspect buyer backed out) my dilemma is if I go for the CTR I will have a few thousand dollars in negative equity on my other car as a trade. I donā€™t have time to wait for the car to sell privately as the R is already on its way and promised my wife I would always sell one car before buying another. I really want the FK8 especially since we donā€™t know what the next gen has to offer.

my left brain says no save and trying to find a gently used one later but my right brain says jump on it before itā€™s too late!!

I feel like Iā€™m going in circles...
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Byron Sexton

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Its never a smart thing to move emotionally or put yourself in negative equity...I mean you are in Canada so you might be safe. In America we are seeing Inflation like you wouldn't believe. Nothing is promised. I wouldn't do it personally, but its your life, and you have to live it and enjoy it.
 

princeRS

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how goods your credit and how low/high are the interest rates in your area? if youre looking at a 1-2% rate, youre talking a few dollars in interest which is nbd
 


HustedDrums

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First, you're not gonna wanna hear this but - it depends.

I don't own a Type-R so can't confirm or deny if it'll be worth it. I have wanted a Type R for a few years now. I've test driven every other hot hatch in the game that compares to the Type-R and nothing comes close besides the Veloster N. I work at a Hyundai dealer and we just got that performance blue 2021 in.

That car is so fun for 33k. I just wish that car did not depreciate like a rock. The lease program is so bad on that car too. Out of the box, the Veloster N has some great noise out of that exhaust. You just never know what kind of sound you're going to get out of that car when you let off the gas!

The Type-R's just hold their value soooo much more than the Veloster N. What I can say is, it really just depends on what you're comfortable doing and can live with at the end of the day. How much money are you putting down? How long do you want to finance for? How much negative equity are you rolling in? What is your credit like?

I have the same worries about the 2022 Type R. I'm scared what they are going to do to the engine and the body style. I'm also worried about that it's the first year of the car - there's going to be issues that they will refine just like they did on the FK8.

These are all things to consider and think about before making your decision. The Veloster N is at 48% residual value after 3 years. The Type-R with 30k miles after 3 years holds 10k more value than the Veloster N.

Do what makes you happy, man. We're car guys! But I totally get it. Once I learned about finances and budgeting, it's so hard to purchase and finance a new vehicle.
 
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Tabaresu

Tabaresu

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My credit is excellent, rates are good, Msrp because itā€™s Canada.
Just donā€™t know if I can live with having to to eat a few thousand dollars.
I think I need to take the emotion out of it and wait until it makes financial sense.

thanks for the input
 


fatherpain

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Honda Civic 10th gen Need help deciding to buy or not! DF87C526-D03C-4402-9DD9-68AE3CCEB358
Blasphemer!!:bat:


Haha jk! Guess it all boils down to what are your goals for the car and why you want one?
  • If want the car to track? Be prepared to invest additional $$$ to address certain issues such as cooling and wheels/tires, if goal is to track regularly.
  • Daily driving with maybe some canyon carving?
  • If an impulse buy, advise against doing so, even though thatā€™s how I got in ?

At this point, with the 11th Gen just around the corner and demand is high, Iā€™d advise to be patient and wait to see how the new one is. If still prefer the 10th Gen then can grab a 2021 in December or January. ;)

In the meantime if interested, invite you to read my journal here. If after reading (50) pages of OCD nonsense and still want a 10th Gen, I say go for it ?


Hey so I have had a hard time getting my hands on a CTR new for awhile (mainly because I didnā€™t want CW) so I ended up in another car last year.
Out of the blue I started calling around recently and found a dealer that Had a 2021 coming in that was unclaimed (I suspect buyer backed out) my dilemma is if I go for the CTR I will have a few thousand dollars in negative equity on my other car as a trade. I donā€™t have time to wait for the car to sell privately as the R is already on its way and promised my wife I would always sell one car before buying another. I really want the FK8 especially since we donā€™t know what the next gen has to offer.

my left brain says no save and trying to find a gently used one later but my right brain says jump on it before itā€™s too late!!

I feel like Iā€™m going in circles...
 
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Tabaresu

Tabaresu

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No, but I hear they can still get away with the overpriced accessory packages. I suppose they have to advertise that up front though, eh?
In Alberta they have to anyway
 
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Tabaresu

Tabaresu

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DF87C526-D03C-4402-9DD9-68AE3CCEB358.png
Blasphemer!!:bat:


Haha jk! Guess it all boils down to what are your goals for the car and why you want one?
  • If want the car to track? Be prepared to invest additional $$$ to address certain issues such as cooling and wheels/tires, if goal is to track regularly.
  • Daily driving with maybe some canyon carving?
  • If an impulse buy, advise against doing so, even though thatā€™s how I got in ?

At this point, with the 11th Gen just around the corner and demand is high, Iā€™d advise to be patient and wait to see how the new one is. If still prefer the 10th Gen then can grab a 2021 in December or January. ;)

In the meantime if interested, invite you to read my journal here. If after reading (50) pages of OCD nonsense and still want a 10th Gen, I say go for it ?




View attachment 276913
Lol nothing wrong with CW it is the OG colour for the CTR, just in Canada our colours were limited so CW is super common, thatā€™s all.
 

WhiskeyTango

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My credit is excellent, rates are good, Msrp because itā€™s Canada.
Just donā€™t know if I can live with having to to eat a few thousand dollars.
I think I need to take the emotion out of it and wait until it makes financial sense.

thanks for the input
Here's my take on it...
I was exactly where you are two years ago. I wanted a CW Type R since 1998. HAD to have one. A lot of people are telling you no, don't do it, negative equity... etc.

Its a CAR. Thinking about it as an investment is not the way to be looking at it. Do people look at vacations as investments? No. Its your money, spend it on what makes you happy.

I travel a LOT on vacations with my family, and I used to be miserable thinking of all the tangible things I could spend that money on. Now I look at it as doing something that brings me enjoyment, the same way I look at my cars.

End of the day, it's your money. Spend it how you want to.
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