Reverend JC said:Bird, i expected better of you. You are one of those "honda, toyota" buyers aren't you. Truth of the matter is as of the late 90's the american manufacturers woke up and realized that the asian auto makers were gaining tremendous ground on them and the main reason was reliability. I would tell you that, with GM anyway, that if you take a comparable car to the camry or the civic or what ever you will find that they last just as long. They realized that just a little to late based on the fact that GM is no longer the #1 auto maker in sales as of 2 or 3 months ago.
Reverend JC said:Bird, i expected better of you. You are one of those "honda, toyota" buyers aren't you. Truth of the matter is as of the late 90's the american manufacturers woke up and realized that the asian auto makers were gaining tremendous ground on them and the main reason was reliability. I would tell you that, with GM anyway, that if you take a comparable car to the camry or the civic or what ever you will find that they last just as long. They realized that just a little to late based on the fact that GM is no longer the #1 auto maker in sales as of 2 or 3 months ago.
As far as what will you car be worth when you decide to sell it in 1 2 or 3 years, if you want to be able to sell it and get out of it what you owe on it you need to do one of two things: either you drive it for the whole note if it is 4 years or longer OR, you get the note for 3 years. On a typical 3 year note you will owe about what it is worth after a year and a half and from that point you will start building the "equity". I use the term "equity" and cars loosely, unless it is a Mustang Boss or a corvette. I dont think any other new cars out there right now will be building equity any time soon.
Edit: Flame on!
Todd said:JC your BIL is not that stupid.
todd_k said:The reason I was asking was I don't know at what point it becomes a negative to hold on to a car. My wife wants to drive our cars into the ground but I would prefer to have a little value left in them come trade-in time. I owe about $3000+ on my car and according to NADA, the trade in value is over 10k, retail is over 12k. That is a great situation to be in now but I don't want to drive it into the ground and get a couple thousand for it later.
desiderata said:todd_k, you're better off selling to a private party than trading in. You can charge a higher price, but it will require a little work and advertising on your part--that's the tradeoff. To see some numbers, use the kbb.com website to see what I mean.
Also, think about what a great situation you would be in after you make the $3,000 payment to no longer be beholden to the bank/dealer. :cross:
Reverend JC said:Bird, i expected better of you. You are one of those "honda, toyota" buyers aren't you. Truth of the matter is as of the late 90's the american manufacturers woke up and realized that the asian auto makers were gaining tremendous ground on them and the main reason was reliability. I would tell you that, with GM anyway, that if you take a comparable car to the camry or the civic or what ever you will find that they last just as long.
todd_k said:The reason I was asking was I don't know at what point it becomes a negative to hold on to a car. My wife wants to drive our cars into the ground but I would prefer to have a little value left in them come trade-in time.
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