Quote:
Originally Posted by drwillb
Blue, thanks for the inspirational message.
I know it's a niche car and I'm selling at the wrong time of year (I'm in north Jersey and winter is right around the corner) but I don't want to sit on it until March or so. If you add up Nov.-Mar. monthly payments at $500/month, that's an additional $2,500 in loan payments.
Add that to my asking price of $31,500 and you get $34,000. So, if I was to hang on to the car until spring and then manage to sell it for $34,000 (which is at the top end of $ for these cars) I'd walk away with $31,500.
Therefore, I might as well sell for $31,500 right now.
Just my logic and there are many ways to look at the numbers, but I also just want it sold sooner than later.
Bill
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Yes, many ways to look at it. I made the same analogy as my Z4 is on the market too. I refied a couple years ago, so have a $445/mo payment, but about $400 or 90% of the payment reduces the principle balance. Since it is a 4 year old car, it depreciates less than $400/mo, so my equity actually increases as each month goes by. Here in AZ there is never really a bad time to sell a convertible.