^^^ i agree.. its stupid.. you pay for a 40k car.. after interest you have 43 in it and then 5 years later you trade it in for a value of 25. or even better its not paid for and you trade it in and own more than its worth now or its depreciated and you still owe and arm.. then roll that debt into another car compounding the debt.. now you are 50k into a 35k car.. and you have a $700 payment on a car that when you pay it off will be worth 1/3 less than you invested..
I understand the logic of buying new at dealer as you get all options you want but shit you pay out the ass and moment you drive off lot it is worth less...
PEOPLE remember these are depreciating assets. these are not vintage cars that are gaining value.. they are loosing..
yes i bought the wife's element at the dealer new. Yes the owner of the dealership is a close family friend.. but it was the last year they were making it and i saved 8k off sticker and paid cash.. plus we could not find a used one with AWD and all the options.. i have one of the last ones made with all the options in a rare color.. No it is not a collector car but come time to sell its a plus being last model year with all options.. thats it..
but finish paying of a 40k car to trade it in for 25-30k credit on another car and continue your payment... shit you are better to lease at that point atleast then you sign a contract to get screwed in the ass..
i always buy used atleast a year or so used and if at the dealer its the previous model while on a super deal.. or know the dealer.
In times like these if you are not swimming in the money it is the economy of HORD the cash away bc the shit can hit the fan at any moment..
you can argue the other side that Detroit will crumble if people are not buying new well that will never change.. let someone else pay the new premium and you reep the benefit a year later and save..
---------- Post added at 02:09 PM ---------- Previous post was at 02:08 PM ----------
sorry for the rant.. but these 600 700 900 payments.. you can buy a damn house for that.. or have a much nicer place for that kind of cash..