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Resale value....ouch
- Thread starter lazarus870
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- #47
The guy below took his seven month old EcoBoost to a dealer and got 50% of the carās original sticker price. That is worse than CarMax (surprise - surprise). This guy almost strangled the guy at the dealership. I canāt get enough of these videos, better than watching The Walking Dead:
[ame="[MEDIA=youtube]HereZInNXfo[/MEDIA]"]
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Same here. I don't keep cars that long.
DetroitMuscle
Rob
I sold my 2015 base GT 6mt last may after a little over two years of ownership and 40k miles. Price before taxes and gap etc was 32,900 I think. Traded it in on a Honda CR-V for family reasons and it brought 22k. Stings a little but thought that was fair for a base model with 40k miles. Bottom line is that cars typically depreciate in value.
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TruBlu16GT
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Well, the way I see it; the balance on my loan is less than it's current trade-in value so I figure I'm winning on that. Thanks to buying the car and paying for it for the last two years, my Credit score is also in the 800's now.
Plus, I have a Mustang.
Don't really see much to be unhappy about.
Plus, I have a Mustang.
Don't really see much to be unhappy about.
VinnAY
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No one gets in the car value scheme that they sell at retail, and buy at wholesale prices, you can't possibly equate that to "resale" value and that's just part of the perceived drop in value. And, only an idiot thinks that they can trade a car @ < 36 months on a 60 month note and think that they can even break even on a trade.
Most of you need to lease and dump it at 24-36 months. Think of it for what it is: a depreciating asset that loses value every month that you *own* it, with an offset of escalating maintenance costs past about 48 months of ownership.
Most of you need to lease and dump it at 24-36 months. Think of it for what it is: a depreciating asset that loses value every month that you *own* it, with an offset of escalating maintenance costs past about 48 months of ownership.
Omega
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yeah and once you do a power-adder, it will really tank. But as others have said, I don't plan on letting mine go for quite a while.
Just like all the motorcycles in my garage, I buy them, pay them off and keep'em. they only cost some insurance at that point really. Will be the same for the Mustang. The ONLY real cost I will have is building a new F'n garage to put the next car in ;)
Just like all the motorcycles in my garage, I buy them, pay them off and keep'em. they only cost some insurance at that point really. Will be the same for the Mustang. The ONLY real cost I will have is building a new F'n garage to put the next car in ;)
Inthehighdesert
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Inthehighdesert
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Crowd Hunter
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This thread didn't age well.
Crowd Hunter
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Dumping my '19 for a profit along with a second car, and picking up a cheap car to drive while I eliminate debt has been the best thing I have ever done. I sold two cars and lowered my car loan debt from nearly $60k to below $20k, which freed up money to pay off a bunch of stuff that had gotten out of hand. In a couple months, I will have zero credit card debt, then I will double up on my car payments until it is paid off. I can finally breathe.
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