They take the zero percent right out of the residual value of the car, so you're going to take a bigger hit down the road, especially if you're not putting any money down or you're upside-down on trade. In reality, you're not saving ANY money because you're going to be putting more money into depreciation on a new car. You're better off paying the car you have off now, either by making double payments and getting it done in a year or just taking the two years.

That new car smell sure is intoxicating and I've been fighting the urge to trade on a Mustang convertible myself, but I know in two and a half years I'm going to have a paid-off HHR, no credit card debt, better job, and I can buy whatever I want.

 

Bobby, don't do it. You won't save money; You'll loose WAY too much in trading in the old car to save money. You might lower the monthly payment, but then you'll have a loan for longer than you do now. If saving money is your goal, keep what you've got! If you really need a lower payment, look into refinancing your current car.

 

There is much consensus among analysts that current oil prices are not representative of a "bubble" and in fact are here to stay, with the distinct possibility of heading further upward maybe even to the $200/barrel mark. With this in mind unless you are wealthy, it would be foolhardy to purchase anything but the most fuel efficient vehicle you can put up with, if making a new car buying decision today.

I really like our HHR, but if I was making the decision again today it would be between the 50mpg+ 2009 Volkswagen Jetta diesel (CRD) or a Honda Civic Hybrid.

 

thanks for all the responses!!!

we are just looking to save a bit of cash whilst my wife is at home on maternity leave...she might take the whole year - that is allowed up here in the great white north - and her work will only top up the gov't cheques for about 5-6 months.

i know we will be taking a hit in the long run....that is why i am concerned about the ABS and the engine size...i do not want to downgrade too much.

well i'm off....let you know what happens...

 

so it went pretty well....

still waiting to hear from the dealer as to if they have located the car we chose.

'08 LT 1SB package.
in orange??!?


just a quick question;

salesman gives me $750 for loyalty. i believe that i read on here that it should be $1k. is the $1k for those in the US or in Canada?

thanks again,
j