Quote:
Originally Posted by seecue
m4a1mustang,
I agree with your advice as well. I'm planning to buy a used Z instead of new, although I would love to get a new one, the 2-3 year depreciation hit gets me.
I currently have payments on my s2000 (bought used), which should be paid off by the end of this year. (I had a 5 year loan, but will be paid off in 3), I could of paid it off sooner but ever since the market tanked I have been investing substantially more into my 401k and roth IRA, as well saving emergency cash since work is slow. Hopefully in the long run this pays off. (I am 28 BTW)
Since I already have monthly payments, some told me to just trade it in, but I think this is bad idea. Instead, I will pay the s2k off and decide whether or not to purchase the Z later. Hopefully I can resist buying the Z before then. Wish me luck! lol.
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A trade would be fine as long as owe less than the trade in value. With car purchases you almost always end up "losing" money, it's just important that you don't lose anymore than you have to.
Good luck with being patient. I ended up buying mine a few months earlier than I planned. I was driving an '06 Civic at the time (with no car payment) and just wanted to go fast.
Priorities.
I do have to say, though, having an S2K definitely helps with being patient. Those are fun cars and if you drive it into the ground you can really save a lot of coin while still having a lot of fun.