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I disagree with your depreciation numbers, and anyone who takes their car to the dealer for service has more money than sense.
You can disagree with documented car value facts all you want. And many people who buy their car new pay little or nothing for service for the first few years.
You can disagree with documented car value facts all you want. And many people who buy their car new pay little or nothing for service for the first few years.
There's nothing written in stone to declare your numbers absolute truth. I've seen others that are different.
You can disagree with documented car value facts all you want. And many people who buy their car new pay little or nothing for service for the first few years.
Right! Some cars come with free service for 4 years.
Who's talking about values? I'm talking about rate of depreciation. Yours aren't accurate.
And what do you think depreciation is? Diminished VALUE of the car. The fact that someone had to explain that one to you disqualifies you from further discussion with me.
And what do you think depreciation is? Diminished VALUE of the car. The fact that someone had to explain that one to you disqualifies you from further discussion with me.
LOL, you are a piece of work. Obviously insecure, but definitely a piece of work. First year depreciation is more like 25%, btw.
If money were not an issue, I doubt you'd go out and buy a 5 year old car!
When I sold cars, the wealthiest customers bought used. 3 yrs, under 40K miles was their usual goal, paying in cash. I assume if they could stroke a check for $32K, then $40K wasn't much of a stretch for them. The "millionare driving a used camry" is a real thing.
Quote:
Originally Posted by VickiR
Don't be jealous! Work hard and you can have whatever you want!
Don't be patronizing. Just because he chooses not to take the heaviest part of the vehicle's depreciation doesn't mean that he can't have a new one. Anyone with a mediocre credit score and verifiable income can buy a brand new car. I've seen people welded into cars on seven year terms loans with no (or negative) equity up front. Hey, the bank said they could afford it, so it must be ok! Did they work hard? Maybe, maybe not, but now they worked hard for the bank. And, if they decide to sell the car, they will be upside down for years.
Look, there is nothing wrong with buying a brand new car. The full warranty, not inheriting someone else's problems, knowing 100% the accident history, not worrying about the smells and blemishes, are all very valid reasons for buying a new car. But there is no denying that it does come at the cost of owning the car during the steepest depreciation of its life, and that is the price you pay. For some people, it is a small part of an overall financial philosophy in which they minimize their exposure to necessities that go down in value, especially if they see the car as nothing more than an appliance to transport them.
Finally, to the OP...Good luck finding the rental. I will say that renting it for a day or two is far smarter than welding yourself into the traditional $30K Millionaire 3 series or C class lease.
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