how long to keep my is before trading in?
02-22-08, 07:55 PM
#1
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how long to keep my is before trading in?
i was just wondering how long should i wait befor tradeing my is in for a new moddle? 3 years 4 years or 5 years?
what i am getting at is the the lowest year per dollar spent
what i am getting at is the the lowest year per dollar spent
02-22-08, 08:00 PM
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As my best friend says cars are not an investment they lose their valve as soon as you sign the papers... So I would keep it until you get bored of it and find another car to take it's place...
02-22-08, 08:06 PM
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02-22-08, 08:19 PM
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Why in the world would you trade it in? Dealer automatically takes $3k off the top of the book value for "reconditioning". It is well worth the time and effort to resell the car your self.
02-22-08, 08:23 PM
#6
personally i dont buy anymore i lease...i used to pay cash for the cars i owned but as someone before me said "cars are not an investment"
if you already financed it then just keep it til u no longer want in then make the smarter decision of leasing...here's an example if i financed my IS i would only save $1700 over a 4yr lease and buying out in the end...but here's the kicker if anything such as an accident were ever to happen to the car i would lose alot more than the $1700 i saved if i financed but on a lease i can just give it back and say "you deal with it, ill lease a new one
"
if you already financed it then just keep it til u no longer want in then make the smarter decision of leasing...here's an example if i financed my IS i would only save $1700 over a 4yr lease and buying out in the end...but here's the kicker if anything such as an accident were ever to happen to the car i would lose alot more than the $1700 i saved if i financed but on a lease i can just give it back and say "you deal with it, ill lease a new one
"
02-22-08, 08:25 PM
#7
i guess the answer would be before your 60k service?
but honestly, these cars tend to last a long long time and if you take care of them, they don't have huge issues. my 98 gs has 167k miles and the most expensive day at the shop was for the 90k service when I had the timing belt swapped all the fluids drained and filled.
other than that, i think a majority of CL members spend more money on mods than maintenance due to the outstanding reliability and the plethora of cool mods on the market.
but honestly, these cars tend to last a long long time and if you take care of them, they don't have huge issues. my 98 gs has 167k miles and the most expensive day at the shop was for the 90k service when I had the timing belt swapped all the fluids drained and filled.
other than that, i think a majority of CL members spend more money on mods than maintenance due to the outstanding reliability and the plethora of cool mods on the market.
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02-22-08, 08:40 PM
#9
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personally i dont buy anymore i lease...i used to pay cash for the cars i owned but as someone before me said "cars are not an investment"
if you already financed it then just keep it til u no longer want in then make the smarter decision of leasing...here's an example if i financed my IS i would only save $1700 over a 4yr lease and buying out in the end...but here's the kicker if anything such as an accident were ever to happen to the car i would lose alot more than the $1700 i saved if i financed but on a lease i can just give it back and say "you deal with it, ill lease a new one"
if you already financed it then just keep it til u no longer want in then make the smarter decision of leasing...here's an example if i financed my IS i would only save $1700 over a 4yr lease and buying out in the end...but here's the kicker if anything such as an accident were ever to happen to the car i would lose alot more than the $1700 i saved if i financed but on a lease i can just give it back and say "you deal with it, ill lease a new one
"
02-22-08, 08:48 PM
#10
that is wall well and good and if you read what i wrote i used to pay cash ( paid cash for my '01 is300 and '02 audi s6) but when someone crashes into your ride (hopefully it doesnt happen) your car will be worth significantly less than you put into it or would have been able to get out of it...and if there is any frame damage, forget it your ride aint worth ****...
on this topic i speak from experience, in my S6 i was in an accident that wasnt my fault and there was frame damage but not enough total damage to the car for mercury insurance to call it a total loss...so who loses? drum roll please...ME
cars are not investments you would be better off buying gold right now and putting almost nothing down on a lease. that way your money grows and the dealer eats the loss in value of your ride.
02-22-08, 08:59 PM
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that is wall well and good and if you read what i wrote i used to pay cash ( paid cash for my '01 is300 and '02 audi s6) but when someone crashes into your ride (hopefully it doesnt happen) your car will be worth significantly less than you put into it or would have been able to get out of it...and if there is any frame damage, forget it your ride aint worth ****...
on this topic i speak from experience, in my S6 i was in an accident that wasnt my fault and there was frame damage but not enough total damage to the car for mercury insurance to call it a total loss...so who loses? drum roll please...ME
cars are not investments you would be better off buying gold right now and putting almost nothing down on a lease. that way your money grows and the dealer eats the loss in value of your ride.
on this topic i speak from experience, in my S6 i was in an accident that wasnt my fault and there was frame damage but not enough total damage to the car for mercury insurance to call it a total loss...so who loses? drum roll please...ME
cars are not investments you would be better off buying gold right now and putting almost nothing down on a lease. that way your money grows and the dealer eats the loss in value of your ride.
Looking at it logically....if you plan on getting a new car every 3-4 years, leasing probably does make more sense. However, if you are looking to make the best 'investment' (with no appreciation) and are planning on driving your car for awhile, buying makes more sense.
02-22-08, 09:17 PM
#14
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If you get hit, you are entitled to depreciation as a result...Insurance companies are a business and they are gonna go the CHEAPEST route...if you allow them to repair your frame and allow them NOT to pay for the depreciated value of your car then you LET them....The BEST way is to pay cash, so you are not paying any finance charges and drive it. But if you want to buy a new car every 3 years, and dont want the hassle of selling it, then leasing is EASIER. And takes less time, so how much is your time worth to you.
02-22-08, 10:08 PM
#15
i agree that if you plan on keeping the car for a LONG time that purchasing makes more sense than leasing but paying cash is quite possibly the worst idea unless you have ****ty credit and no clue how to invest money. if you have good credit you should beable to finance a car for an absolute maximum of 7% (that is a very high ball figure).
additionally the dollar is losing value every year (about 7% annually right now) and inflation is up at 3% annually so why pay cash when you can pay the dealer in devalued dollars? the next part of this is that with the money you havent put into a cash purchase you can purchase "real" investments (i say "real" investments because a car is never an investment unless extremely rare or classic but is always anexpense). as long as you find an investment that can make you 7% a year (which should be easy unless your an idiot) you enjoy the benefit of not losing a penny on financing and still maintaing the purchase power of the cash not spent at the time of purchase and you get to pay the dealeer back in dollars that have devalued almost 10% annually.
additionally the dollar is losing value every year (about 7% annually right now) and inflation is up at 3% annually so why pay cash when you can pay the dealer in devalued dollars? the next part of this is that with the money you havent put into a cash purchase you can purchase "real" investments (i say "real" investments because a car is never an investment unless extremely rare or classic but is always anexpense). as long as you find an investment that can make you 7% a year (which should be easy unless your an idiot) you enjoy the benefit of not losing a penny on financing and still maintaing the purchase power of the cash not spent at the time of purchase and you get to pay the dealeer back in dollars that have devalued almost 10% annually.