Buyer's Remorse or am I crazy?
05-27-10, 10:20 PM
#18
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Just get whatever car that makes you happy. Now, you aren't happy with IS-C, what make you think that you would be happy with it later on?
If you really want to get rid of the IS-C now, do it now since your debt would also goes down with the Mini. The more you wait, the more it's going to lost its value.
If you really want to get rid of the IS-C now, do it now since your debt would also goes down with the Mini. The more you wait, the more it's going to lost its value.
05-27-10, 10:35 PM
#19
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sorry but so dumb. Give me your money.
Apparently you didn't think enough about the future and your car.
I for one was contemplating on buying a MINI Copper S used or IS350 used!
Unless you are seriously rolling job/ living with parents lottery or both, people like you have buyer's remorse. Bc it cuts into the more practical, important aspect of one's life, like you said eating out or retirement fund.
So NOW is the time to really think the best out come from this 10k buyer's remorse. ESP with a 36k LOAN on a car?!
GO Buy a used civic. Apparently your not responsible enough to know how to calculate your finances. Just wanted a nice ride. It happens, but happens to "I must want now" mode and bam later regret.
Seen that with my friend and his Audi A5 now he's sold it and getting a Camry Hybrid. Dumbshow off. Now he had his fun but I hope it was worth the depreciation. In your case, a 36k loan.
Thus give me your money bc you don't know how to handle it.
Tough love. Take this as a life lesson on your next big purchase.
Apparently you didn't think enough about the future and your car.
I for one was contemplating on buying a MINI Copper S used or IS350 used!
Unless you are seriously rolling job/ living with parents lottery or both, people like you have buyer's remorse. Bc it cuts into the more practical, important aspect of one's life, like you said eating out or retirement fund.
So NOW is the time to really think the best out come from this 10k buyer's remorse. ESP with a 36k LOAN on a car?!
GO Buy a used civic. Apparently your not responsible enough to know how to calculate your finances. Just wanted a nice ride. It happens, but happens to "I must want now" mode and bam later regret.
Seen that with my friend and his Audi A5 now he's sold it and getting a Camry Hybrid. Dumbshow off. Now he had his fun but I hope it was worth the depreciation. In your case, a 36k loan.
Thus give me your money bc you don't know how to handle it.
Tough love. Take this as a life lesson on your next big purchase.
05-27-10, 10:44 PM
#20
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^ that was a straight up lecture.
Since you're in this situation, I would get the Mini Cooper S lol.
That is a really fun car!
2 totally different cars. Zippy vs. Power.
Take the 10k lose and go zip away.
Since you're in this situation, I would get the Mini Cooper S lol.
That is a really fun car!
2 totally different cars. Zippy vs. Power.
Take the 10k lose and go zip away.
05-27-10, 11:07 PM
#21
much agreed! refinancing through a credit union may be a huge money saver in the long run. i think you might be seeing only the benefits of saving money in the short term (monthly payments), but there could be additional expenses with the mini. in the end, definitely go with what you want. if you're not happy with the IS, then choose the mini route. money is important, but not nearly as much as your happiness with the car you have. best of luck!
05-28-10, 07:12 PM
#26
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Look into the refi is the best advice in here man, no need to lose 10k. Try to sell it privately first and cut the loss to 5 or less then have the dealer do a courtesy delivery to save on the taxes....
05-28-10, 07:24 PM
#27
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Well you're not upside down, which is good, so if you absolutely need to, you can trade it in. But I'd say keep it another 12-18 months, and here's why.
Dave Ramsey says to pay cash for whatever car you can afford and keep making payments to yourself into a savings account. He says that not because debt is bad, but because buying automobiles is not a way to build wealth. You make interest payments on the loan (which you don't recover) and you're buying a depreciable asset. He preaches to build the wealth first - secure your future - then buy the nice car.
If you bought it new in November, the car has depreciated more in the past 7 months than it will in any other 7 month period for the rest of its life. With $777 payments, I'm guessing you're putting about $600-625 toward principal each month. So over the next year to year and a half, you'll add somewhere between $7-10K in equity. But the depreciation will slow down. You'll probably only lose about $3-4K in value over the same period. By the end of the summer of 2011, you'll have a 1 year old IS350C. I wouldn't think that would be worth much less than $40K.
So if you can afford the $777 payments, I'd keep it at least until then. Just my $0.02.
Dave Ramsey says to pay cash for whatever car you can afford and keep making payments to yourself into a savings account. He says that not because debt is bad, but because buying automobiles is not a way to build wealth. You make interest payments on the loan (which you don't recover) and you're buying a depreciable asset. He preaches to build the wealth first - secure your future - then buy the nice car.
If you bought it new in November, the car has depreciated more in the past 7 months than it will in any other 7 month period for the rest of its life. With $777 payments, I'm guessing you're putting about $600-625 toward principal each month. So over the next year to year and a half, you'll add somewhere between $7-10K in equity. But the depreciation will slow down. You'll probably only lose about $3-4K in value over the same period. By the end of the summer of 2011, you'll have a 1 year old IS350C. I wouldn't think that would be worth much less than $40K.
So if you can afford the $777 payments, I'd keep it at least until then. Just my $0.02.
05-29-10, 07:34 AM
#28
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I think you hit the nail right on the head jacob7017. I'm about ninety percent sure that I'll keep the Lexus for about that reason. Also, drove the MINI yesterday and it was as zippy as I remember it just like holycoo had broken it down. I do miss that a little. But I also noticed how plasticy the controls felt and I remembered how many little bits fell off my '05 :|
Thanks for all the input.
BTW, part of what I missed on the MINI was the forum community so I guess I'll need to get on here more.
Thanks for all the input.
BTW, part of what I missed on the MINI was the forum community so I guess I'll need to get on here more.
05-29-10, 08:11 AM
#29
LOL what is the logic of refinancing for 72 or 84 months - y do people love paying interest to financial institutions so much; do you not understand that it costs you more in the long run.............
; idiocy to say "I can afford $500 a month for 7 years but not $800 for 4"; actually lunacy..........
; idiocy to say "I can afford $500 a month for 7 years but not $800 for 4"; actually lunacy..........
