- Joined
- Jul 14, 2020
- Threads
- 125
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- 6,164
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- 7,042
- Location
- California
- Vehicle(s)
- Jeep Wrangler JKUR
- Your Bronco Model
- Wildtrak
Only in rare situations would your existing truck depreciate MORE than the hit you will take by buying a temporary vehicle.
Buying a new car (or leasing) in the meantime is the worst financial choice a person can make.
Take the example....you buy something and in 18 months sell it for $1,000 less than you bought it. Would your truck have depreciated more than a grand in that same time period?
The only way it would make since, is ...
1) your current vehicle including gas and insurance is costing you a pretty good chunk of change per month. Getting rid of that liability and saving your money makes sense.
2) If you could find a replacement vehicle that was only a couple grand and reliable. For example some old honda civic or something. You would save on gas, insurance (because it was old) and chances are, since you are at the bottom already, you would not take a large hit on the resale.
The only real unknown is current vehicle breakdowns (e.g. your tranny or engine goes out) or some a-hole totals your truck because they were reading B6G while driving.
Buying a new car (or leasing) in the meantime is the worst financial choice a person can make.
Take the example....you buy something and in 18 months sell it for $1,000 less than you bought it. Would your truck have depreciated more than a grand in that same time period?
The only way it would make since, is ...
1) your current vehicle including gas and insurance is costing you a pretty good chunk of change per month. Getting rid of that liability and saving your money makes sense.
2) If you could find a replacement vehicle that was only a couple grand and reliable. For example some old honda civic or something. You would save on gas, insurance (because it was old) and chances are, since you are at the bottom already, you would not take a large hit on the resale.
The only real unknown is current vehicle breakdowns (e.g. your tranny or engine goes out) or some a-hole totals your truck because they were reading B6G while driving.
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