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Old 01-17-2013, 01:28 PM   #37
revhigh
Focus Enthusiast
 
Join Date: May 2012
Fan#: 98516
Location: Bangor, PA
What I Drive: 2012 Mazda 3 SkyActiv 6A Touring

Posts: 341
FF Reputation: 1 revhigh Good Standing Member
Buy-Sell-Trade Rating: (0)
Quote:
Originally Posted by Slo86GT View Post
Right now you are in recovery mode from dropping that large of a downpayment. Don't double down by letting it go at such a loss when it's operating just fine.


Whether he had a large down payment or not ... a loss is a loss ... it doesn't matter if it was a down payment or it was financed. I too had a large down payment ... didn't matter to me at all. The GOOD thing I did up-front was buy a basic, but reasonably equipped car at a rock bottom price ($16.5K) ... so when I got $13.5K in trade ... I lost $3K in about 8 months. I just look at it as if I rented it for $400 a month.

If a $22K car is worth $13K NOW .... a year from now the 13's will be worth $13K (maybe LESS), and your 12 may be worth $10K ... you may not have even paid that much ($3K) of the principal off in that year ... so you could be LOSING money by holding it. Not only that ... if other problems crop up ... or recalls .... or they discontinue the DCT ... all bets are off .... I didn't want to roll those dice.

If you bought a higher level car, and are into one of these things for $20-25K+ (financed) ... you better enjoy it, because you're gonna be into it for a long, long time.

REV
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