Daedalus

How did you come up with that #? A quick search suggests it's worth about $6k right now. You think it'll lose 1/2 that value in a year? I think it'll be closer to $100/month over the next year, and maybe $3k over the next 3 years. I see used 2008 S60s going for ~$8k below their invoice prices, so $500/mo may end up being slightly conservative. Aside from the hit on day 1, depreciation rates (as a %) are fairly consistent over time for a given vehicle, though they can vary quite a bit across different models.

attgig

my jeep isn't going to depreciate at that rate.
i put up 250ish for the volvo based on quick prices i looked at.
right now, i can get a volvo for 7500 off the invoice. meaning, if you're seeing an 08s60 for8k off invoice, then i'm losing 500 bucks for the whole year....

not sure if that's right.

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LPMiller

this seems like too much math to buy a car. If you like the car and can afford it and want it, buy it. If you cannot afford it, don't. Worrying about depreciation seems silly, unless you plan on dumping it in a year or two.

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DarkFury

Yup, that's how I feel about cars. A car isn't an "asset".. it's a mode of transport. Generally you really don't make any money on a future trade on them (which basically puts you right back into paying a car note...)

I'd much rather have a car I love, paid for, with very little resale value than constantly scurrying to cough up $400 per month to keep paying on "something" I honestly don't like but was available at the time of need.

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attgig

i agree. this whole process has been a headache. what once was considered fun, has become a chore.

Jihforce

that's because you're putting too much into this. as LP and DF said, its more of a liability than anything. So instead of worrying about depreciation, just worry about the lowest sale price. On a personal note, they don't make volvos like they used to so I personally wouldn't recommend them, but that's just an opinion

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Jeffbx

Cars are an expense, not an investment. Don't waste your time looking at depreciation rates & resale unless you plan on flipping it for another one every couple of years (and in that case you should be leasing, not buying).

Get what you like best in your price range & enjoy driving it.

attgig

my price range is too low... lol

yeah. i still haven't gotten anything, and may settle with a car i don't want because the price is a lot lower.

Jeffbx

Isn't it funny that no matter what price range you're in, the car you REALLY want is just a little bit above what you're willing to pay?

DarkFury

Of course... because that's just a law of "human nature" (to want things that are just outside of our reach.)

Only way around it is to lower our expectations... but what fun is that?

My solution... Go ahead and get the one you want...KNOWING that you will stay with it for a long enough time that you can justify the extra cost. Worst case scenario... HAGGLE with the dealer, remove options you don't absolutely need (or can add later) and still get the majority of what you WANT.

SETTLING just sucks... and if you aren't happy with it, you probably won't appreciate and/or take care of it as well as you would the one you'd be really happy to have.

Just my take on it...

LPMiller

My friend just got a 2010 mazda3...peppy little cars.

But really, you can read till the cows come home. Just drive a few, you might find that there is a cheaper car you actually like, and aren't really settling at all. Or, go with a slightly used/demo/last years model, which can save a lot of money.

Or like Jeff said, lease, as long as you aren't planning on driving more than 12,000 miles a year. This either gets you into the car you really like, or means even if you hate it, you are time limited on your hate.

But getting a new car should not be stressful, other then sitting in the finance office. It should be fun.

attgig

This past weekend... after about a month of annoyances, getting annoyed at dealers, and wasting too much time, I finally bought:
this.

http://imageonthefly.autodatadirect....400&AUTOTRIM=2
(pic i found on net, but same color & year)

2006 infiniti g35x 24500 miles.

gave me good value on my trade in (didn't have to spend any money fixing it up).

johnnymk

nice car

speedracer120

Fun car. Congrats.

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