I ran the numbers last week and you guys were right- although technically it would be more of a monthly payment to keep the Aero, if I consider the fact that the car would be worth something (and I guessed on the depreciation being more than I expect, just to be safe) after its paid off, then the net expenditure is almost exactly the same (and I think I might have been conservative on the 9000 maintenance costs too)

So... as long as I can keep up the payments, the better long term plan is to keep the 9-5. Worst case is I'd sell it later- the longer I hold on to it the better off I'll be. The student loan would still be an option too.

PS Jon- I also take back my comment I made to you in the past about buying a car on impulse- perhaps I have in the past, but you can see how that kind of long term planning works out! I'm glad I took a few hours to weigh the options this time around.

John- I know how you feel. Unfortunately, as the car gets older, it will only lose value. The only way I see to get your money's worth when you factor in the depreciation (and loss of sales tax paid) is to keep the car long term. Another thing I've considered, that you might also consider is that although your car might have an attractive price to a potential buyer being one year old- used car loans are at what? 8%. These days you can walk into your local Saab dealership and get a brand new one @0%. Total cost is likely to be the same over a few years for the buyer once finance charges are considered. I ran into the same problem selling my 2 year old Jetta when I bought my 9-5. People were telling me they could buy a brand new one for not much more money. If you have to sell though- the sooner the better, its losing value by the hour.

posted by 65.123.118...

• New cars, depreciation and selling a used car, John Davies, Wed, 30 Apr 2003 08:14:39
  • As a general rule, it's never cheaper later....., Mike Lynch , Wed, 30 Apr 2003 14:09:54
    • My general rule is buy one year old and lease new! n/m, Jon in Chicago, Wed, 30 Apr 2003 14:19:42
      • Oh, Forgot to Mention!, Jon in Chicago, Wed, 30 Apr 2003 14:35:07
  • Make sure and do a cost analysis on, Jon in Chicago, Wed, 30 Apr 2003 11:56:22
    • BTW Jon and others who replied to my dilema..., bRAD, Wed, 30 Apr 2003 12:38:05 <-- Viewing This Message
  • Sell now and take the loss rather than more..., TKC, Wed, 30 Apr 2003 10:11:36
  • I'm not sure it matters, phred, Wed, 30 Apr 2003 09:33:21
  • Re: New cars, depreciation and selling a used car, Stephen Goldberger, Wed, 30 Apr 2003 08:34:45

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