OneFingerIn t1_jebb2tl wrote
If you're able to make the payments without problem, I like the deal. Newer vehicle, no upkeep costs, and a lower rate.
CarbonPrinted OP t1_jebbtwq wrote
This is what's also pushing on me: My current CR-V is a 2015 model, and while Honda's are typically pretty good, it's more likely that I'll have more maintenance expenses hitting sooner than later. I take good care of my car, but there's an appeal to having everything you said: newer vehicle, no upkeep costs, and the lower rate
shipwreck17 t1_jecf9rc wrote
Those are all nice to have but you're paying for them. Some maintaince on the older car is still much cheaper than another 5 years of payments plus interest plus higher insurance etc. Bottom line is new cars are nice but usually cost more so the financial answer is buy one when you need it. Not when u want it. You don't need one now but I think you have enough info to make an informed decision. I totally understand the appeal of the deal but this is r/personalfinance not r/Cars.
Sophster116 t1_jec2xyj wrote
Instead of minor repair costs you take on the most significant portion of the depreciation curve and have 5 more years of payments. It's not a financially advantageous decision spending a dollar to save a nickel, but potentially OP will have a nicer ride
Viewing a single comment thread. View all comments