Was: Dead Puppy...Now:Cheap Cars

[josh Wyte]

Yes, you're right I did have to build up the equity.

I did so in my '91 VW GTI 16v that I converted over to
supercharged G60 power.  I sold that car and the
associated parts after owning it for 8 years and
driving it 150k+ miles for about $12,000.

So I ran the car for a good distance, then got my
cash.  Now I buy good used cars, run them for awhile,
then sell them before they depreciate a bunch.

Also, I've *never* traded a car in to the dealer.
I've always sold them myself privately.

-josh


--- james accordino <ssgacc at yahoo.com> wrote:
>
> --- josh Wyte <josh_wyte at yahoo.com> wrote:
> > I must've failed to mention that I never buy a
> brand
> > new car.  I usually pick up cars that are 3 years
> > old
> > with under 40k miles on them.
> >
> That I understood.
>
> > My top price to pay for a car like the above is
> > $25,000.  I usually net at least $12,000 from the
> > sale
> > of my old car, so I have loan amounts of anywhere
> > from
> > $8-12,000, which over a 4 year note equates to
> $250
> > or
> > less.
>
> O.K., but somewhere along the line, you shelled out
> for the equity in the original car.  You don't get
> $12k trade-in for free.  Usually when you dump a
> fully
> financed or leased car for a new one, you roll in
> the
> costs into the new one.  Seen this MANY times with
> freinds.  "Sure we'll take you're old car!"
> >
> > Take my current '97 A4 quattro.  I bought it for
> > $19,xxx with 35k miles on it and a warranty to
> 75k.
> > (Audi has since increased it to 100k, but
> > unfortunately that doesn't count for me)  I had
> > $12,000 to put down from my last car and I took
> out
> > a
> > $8000 loan for 4 years with payments of $210 a
> > month.
> >
> > So I ended up with a nice, newer car, with a
> > substantial amount of warranty for under $220 a
> > month.
> >  Now it's true that I could've bought one from a
> > private party for less, but since I've claimed
> over
> > $2000 in warranty repairs in the 18 months and 30k
> > miles I've driven the car I'm very happy with my
> > decision to buy from the dealer.
> >
> > -josh
> I'm NOT berating your perspective, but somewhere you
> shelled out to get in the equity position on the
> trade-in.  Someone, somewhere took the hit.  There's
> NO way around that.  Trust me, the dealers assure
> that.
>
> Jim Accordino
>
>
>
>
>
>
>
>
>
>
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=====
Josh Wyte
Momentum Motorsports
508-833-3024 After 5 pm EST

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