Yeahbut once you've paid off the note the vehicle will ALWAYS be worth more
than you owe ;)
I plan to buy my next pickup on credit. It'll probably be a 48 month note
although I have yet to decide on new vs used, it'll depend on the prices of
each and the financing. If its real close I'd probably go with new even if it
were a couple hundred more... You can't get zero percent financing on used.
-Curt
Date: Thu, 31 Jul 2008 09:46:44 -0400
From: Rich Thomas <[EMAIL PROTECTED]>
Subject: Re: [MBZ] OT : Buying new/financing
To: Mercedes Discussion List <mercedes@okiebenz.com>
Message-ID: <[EMAIL PROTECTED]>
Content-Type: text/plain; charset=ISO-8859-1; format=flowed
Reading the thread doesn't matter -- if you are getting into a 6 yr loan
on a car, that is crazy no matter what the price, unless you expect The
Chosen One and the Congress will create a bail-out for you like they did
for all the stupid people who got into their stupid sucker-rate
mortgages, and the slicksters who sold them. The problem is the car
will be worth a lot less than what you owe on the loan at some point.
If you are saddled with a contract to keep paying the loan on something
that is worth less than the loan, then that is not smart. Reason being
who knows what might happen to you in the future, and either you or your
people would end up having to pay off something, and might not have the
money to do so. Real estate is different from a car, but even now you
can see what has happened to a lot of people.
You can run the numbers on depreciation v. loan principal, see how that
looks.
--R
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