Depreciation on a car that is financed ROCKS!
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1st Gear
Joined: Jan 2008
Posts: 444
From: Rutland, Vermont, USA
Depreciation on a car that is financed ROCKS!
Currently I owe $17,500 on my car, and its worth $11,000 at most. You want to know why I'm happy? My Fiance started hinting that it was getting time to get rid of that "expensive silver car in the driveway", and I mentioned that it would tack on over $6,000 to any other car I buy, and she conceded defeat! Depreciation saved my Audi!!! I was frightened to get married because I felt that that would spell the end of my Audi, but now I know the secret!
Tack on $5,000-$7,000 for upgrades (repairs if your credit union asks) when you refinance. Your "stuck" with your car until you pay it off!
I think what I'm going to do is lease my next Audi, keep my current A4 as a "back up" car, and then at the end of the lease, buy it outright and pull the same trick!
She is so frugal she squeaks when she walks (except when it comes to clothes shopping...), and drives a crappy 1994 Accord, so when I mentioned if she wanted to pay $10,000 for another $3,000 car, she was welcome to.
"My hands are tied, I'm stuck with it hun" is the greatest line ever!!
Sorry, I was just really excited. I would be really happy if she got into tuning cars with me, but not knowing the difference between a radiator and an intercooler is something that will pay off equally as well down the road... =D
Tack on $5,000-$7,000 for upgrades (repairs if your credit union asks) when you refinance. Your "stuck" with your car until you pay it off!
I think what I'm going to do is lease my next Audi, keep my current A4 as a "back up" car, and then at the end of the lease, buy it outright and pull the same trick!
She is so frugal she squeaks when she walks (except when it comes to clothes shopping...), and drives a crappy 1994 Accord, so when I mentioned if she wanted to pay $10,000 for another $3,000 car, she was welcome to.
"My hands are tied, I'm stuck with it hun" is the greatest line ever!!
Sorry, I was just really excited. I would be really happy if she got into tuning cars with me, but not knowing the difference between a radiator and an intercooler is something that will pay off equally as well down the road... =D
Senior Member
Joined: May 2006
Posts: 491
From:
I bought my car certified used in Oct 2005 w/45k miles on it for just under 20k. I've been paying $383/mo since then and I'm thrilled that what I owe has kept pace with the market value of the car. In fact, I think I now owe less than what its' worth, which is just great. I really have a tough time justifying the purchase of any new car. I'll gladly pay 1/2 and drive it from 50k to 100k.
Last edited by wolfdog; Mar 28, 2009 at 11:40 PM.
Thread Starter
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1st Gear
Joined: Jan 2008
Posts: 444
From: Rutland, Vermont, USA
Oh believe me, I get that line too.
Apartments suck, but it's either the car or a house at this point. Like I've said in the past, I'll live off ramen before I give up my habit... haha
Sucks though, I'd like some equity at some point in my life :-/
lol
Apartments suck, but it's either the car or a house at this point. Like I've said in the past, I'll live off ramen before I give up my habit... haha
Sucks though, I'd like some equity at some point in my life :-/
lol
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