Quote:
Originally Posted by ImportConvert
I'm upside down, and I'm looking to buy land at the beginning of '14, and a house being built 2 years after that, or so. I think I would be best served to just keep my 370Z until I break even in it, pocket the personal injury and depreciation monies, and then trade the 370Z when I break even or come close or decide to put down monies to make up the difference. Less than a year in of ownership, that's not something I want to do.
When I break even, the '15 GT will be out, BRZ STi will be out if it ever will be, and I will have a new body-style of 370Z to consider, maybe.
I guess since a house and land are my goals first and foremost, this is the best solution. Using this accident as an excuse to downsize will just land me upside down in ANOTHER car. Mine may be dicked up, but I can rake them over the coals until they get it RIGHT, and it is still a $45K MSRP vehicle. If indeed I am $5K upside down, plus $5K in damages to resale value, that is a $35K car that I will owe $45K on, and that's BS. I would rather just keep this until it breaks even and dump it, or, if it's doing just fine by then and not giving me issues, just keep it until it dies of natural or irreparable causes.
Even if I radically down-sized into a $25K car, I would still be paying $35K for it when everything is all said and done is my guess, and that's opposed to the $43K or so I financed. I would be paying on a note that is $8K less, which is something like $100/mo which means nothing to me and wouldn't help me in any way other than I would hate my car and be able to save another $100 a month, which I am currently saving $2K a month, so another 5% per month, or $1200/year. Not worth it.
Thoughts/ideas?
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/\ you're right about keeping it being the best option, $$$ wise, no quesiton. Good repair job and it'll be almost as good as new. I say almost b/c if you're like me, it could objectively be good as new but it'll still eat away at you anyway.
Keep focused on the big picture, house etc, that's what's really important not the car.
Finally, depressing thought, you could wind up getting a new car and a week later be involved in anohter accident due ot ashitty driver so if taht happened again to your Z, you'd be less upset than if it happened to your new car...