Lol read between the lines. Some people end up paying monthly to pay off a car for years, that when you sell it is just going to be valued much less therefore taking a hit to your wallet. Versus paying monthly for a car for 3 years, then switching it out for a new one and getting the benefit of a new car. It works out better in a lot of cases.Of course. Thank God the bank volunteers to take the hit on depreciation.
They are romancing you also...keep that in mind when your trying to work your deal today or whenever you do it.
Trust me I've been to enough dealers with my dad when hes bought cars and when I was shopping around to understand that. I'm very aware I need to play hardball and that's what I'm doing today. They will either set up the sale today or see me for the last time today. I may have misspoke a little there but I definitely agree with you to a large extent. He's gunna learn that if he's saying things like that he better be ready to back it up. Most likely what Ill do is what my dad has done and take their financing offer then pay the loan off with a loan from something like TFCU for a lower rate. But well see. Thanks again!
Iāve contributed plenty in this thread...without being a condenscending dick, unlike you. Also, yes, being a dick suits me - thanks for noticing.
A contrast to this is a perpetual car (lease) payment. What it comes down to is long term vehicle costs. Our previous Civic was a 2004. Bought new for 17K, paid it off in 3 or 4 yrs. Then we did not have a car payment for that driver for 14 years. Maintenance over that time was about $4000. So $23000 over the 18 years of ownership. That's about $100/mo. Sure we 'took a hit' on the investment insofar as it was worth almost nothing when we got rid of it, but that's no different than having nothing to show for a car payment at the end of a lease. I'm not adamantly opposed to leasing like some folks here. It makes sense for lots of people and as tech advances increasingly so. A newer car might save your life. I think of leasing as kind of like a utility payment for transportation. Of course if I could have found a $0 down $100/mo lease for our Civic, I'd have jumped.
Yeah exactly, if you're ok with keeping a vehicle for a long time then buying is much more cost effective and makes way more sense. Like you said though, a lot of people like keeping up with the tech and just the feel of driving a newer car, so leasing is much more cost effective and makes more sense for those kinds of people. Just depends what one is looking for, if they're looking to buy something that will last them in the long run then buying is the only option, but if they know they're going to end up selling the car in 3-4 years and their mileage is reasonable, then no point in buying unless the deal is insanely good.
Thats the most ridiculous statement Iāve ever heard and none of it true.
Correct me if im wrong, but what you're saying is don't buy a car unless you can afford to pay the full cost upfront? Doing that only makes sense for a small percentage of people, ex: someone who is going to keep their car for the next 10 years and not going to buy another car for a long time. Otherwise, whats the point? Theres nothing wrong with borrowing money as long as you know you can afford to pay it back without an issue, then borrow away.
I really hope you could take some financial advise but later on in your life my advise will do you well.
Youāre over 100 years old? If thatās the case, Iāll take your advice, get rid of my cars and just walk the 20 miles to work. I didnāt know so many people could afford to NOT have a car.
Nice. Itās turtles all the way down, man.
