Quote:
Originally Posted by Need4Camaro
The 1LT V6 took a nose dive (MSRP was right at $30k and now they will only give about $18.5k for it, so it took a HUGE depreciation hit and it left me slightly upside down.) It's the rebate in this equation thats the game changer.
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You can't go by what MSRP was.
What did you actually pay for the car when purchased new?
One of the reasons for higher than expected depreciation, is because when the actual new car selling prices goes down (incentives, good deals, etc) that also affects the value of all the used cars down the line.
Most new cars today will depreciate faster than you can pay on them for the first 2 or 3 years.
And it wouldn't be a very smart move on your part to get that 84 month financing on that 2SS your wanting.
Yes, the payments will be less. The car will still depreciate, but with those slightly smaller payments you will not be keeping up with the depreciation.
3 or 4 years into your 7 year loan, you will own more on the car than it's worth.
Everyone wants a smaller payment.
But it comes at a price!