Quote:
Originally Posted by Alan A
Last two cars - daily drivers - I bought new were 60 month loans. I usually lease, but when they’ll roll in the taxes into the total and give you 0.0% APR on 108% of the sales price there really isn’t much incentive to pay cash for anything.
If they’d offered 72 months I’d have taken that. Still only kept one of the cars 2 years and the other for 3, but wasn’t paying much for them.
It’s not the duration, it’s the APR that kills you.
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And the depreciation.
We’re moving out of the kid-hauler phase of life. We’re passing the Highlander on to my son for his first car. Getting a “new to us” car for my wife. She doesn’t like sitting down low in a sedan anymore. She hates the truck-like driving experience of most SUVs.
She wanted to check out a MINI Countryman. Holy crap — after year 3 those things fall off a cliff. She drove our friends Macan GTS the other day and — through gritted teeth — admitted that it was awesome to drive. Could’ve knocked me over with a feather.
I know there is a big initial drop off but in most cars — Macan included — but it seems that the Porsches don’t approach zero quit so fast.
It looks like low mileage ‘17-‘18s Macan S are in the mid 40s and base models are in the high 30s.
I was doing some reading that suggested that dealers were thinking this would be a big year for used car sales and weak new car sales. Recent data suggests the reverse is happening and dealers are worried they are sitting on too much inventory that won’t move. A theory is that the manufacturers are sweeting the deals on new cars to keep manufacturing up.
I don’t have any answers. Just trying to figure out the market.