Quote:
Originally Posted by Game
Quote:
Originally Posted by Poochie
That's the plan, God willing and contingent on the MSRP not exceeding roughly 62k..
There is no way I'm paying a markup on a depreciating asset or if my car note plus insurance exceeds my monthly mortgage payment.. That's what they call "hood rich" in my neck of the woods..
If all the stars doesn't align in my favor, I'll wait it out until the market settles back down and I could possibly snag a discount to bring the cost back down to under 60k.
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You could make the case that the car will be an appreciating asset or even a solid long term investment.  |
In this current market, that's very well possible but this is a fluke, due in part to the government shelling out a lot of free money to everyone, thus, causing a
butterfly effect in the demand for automobiles, which just so happens to be in short supply.. Not to get too political..
Even BMW in early stages of the pandemic assumed that the automotive market would tank but it instead had an opposite effect:
BMWFS: My lease ending soon $6k discount-BMW discounted my residual & purchase price!
https://f30.bimmerpost.com/forums/sh....php?t=1716072
I don't expect this current automotive situation to repeat itself anytime soon, so once the dust settles, used vehicles will continue to depreciate on a more reasonable level as it once typically did.