Second New HHR
10-03-2007, 09:48 PM
#21
Banned
Join Date: 04-12-2007
Location: san antonio,tx
Posts: 897
With financial logic like this, Its no wonder people get into financial hot water at such young ages,
There is no way any "repairs" will add up to the loss in paying interest and depreciation on TWO cars in 6 years.
If you financed $18,000 for 60 months when new Your payment would be approx $377 a month at 6.5%
You will OWE $8400 at the end of three years.
ACV Trade in may be around $9,500 (if you are lucky)
Then start all over. Another 3 years payments will equal $13,572 on a new HHR
IF you kept the HHR for just 76,000 miles or 6 years you would save $4000 plus the then value of the HHR which may be $5000 for a total of nearly $10,000.
Now what could possibly go wrong with a 75,000 mile well maintained car to have to spend $10,000 plus another addition $1500 interest in service costs?
The $1500 alone can buy a GM Major guard Warranty!
I can understand those who want that new car smell every three years and even those who errantly believe a car payment is a "fact of life" like a house payment or rent.
But to assume there is a financial benefit on any level in selling a car because the warranty is expired is not financially astute in the least.
The longer you keep a car the less expensive it is to drive. I have never owned a used car that cost the equivalent of $350 per month to fix, or keep running....... even on average.. Even after 6 years and 100,000 miles. When I really thought about it I traded or sold out of boredom rather then financial smarts.
Brakes $400
Tires $800 REALLY EXPENSIVE TIRES LOL
Hardly back breakers as compared to a new car loan all over again.
There is no way any "repairs" will add up to the loss in paying interest and depreciation on TWO cars in 6 years.
If you financed $18,000 for 60 months when new Your payment would be approx $377 a month at 6.5%
You will OWE $8400 at the end of three years.
ACV Trade in may be around $9,500 (if you are lucky)
Then start all over. Another 3 years payments will equal $13,572 on a new HHR
IF you kept the HHR for just 76,000 miles or 6 years you would save $4000 plus the then value of the HHR which may be $5000 for a total of nearly $10,000.
Now what could possibly go wrong with a 75,000 mile well maintained car to have to spend $10,000 plus another addition $1500 interest in service costs?
The $1500 alone can buy a GM Major guard Warranty!
I can understand those who want that new car smell every three years and even those who errantly believe a car payment is a "fact of life" like a house payment or rent.
But to assume there is a financial benefit on any level in selling a car because the warranty is expired is not financially astute in the least.
The longer you keep a car the less expensive it is to drive. I have never owned a used car that cost the equivalent of $350 per month to fix, or keep running....... even on average.. Even after 6 years and 100,000 miles. When I really thought about it I traded or sold out of boredom rather then financial smarts.
Brakes $400
Tires $800 REALLY EXPENSIVE TIRES LOL
Hardly back breakers as compared to a new car loan all over again.
10-03-2007, 10:25 PM
#22
Banned
Join Date: 08-25-2007
Location: Myrtle Beach SC
Posts: 488
Thats great. I love seeing younger people who understand the advantages of being debt free. Even if it means not having it "today."
No one who owes money on anything can say it is theirs. Stop paying and you will see who it really belongs to. The holder of the Title or Deed is the real owner. All others are paying for the "privilege" of claiming ownership. Banks are the real owners. Some have no issue with that. Actually most have no issue with that.
No one who owes money on anything can say it is theirs. Stop paying and you will see who it really belongs to. The holder of the Title or Deed is the real owner. All others are paying for the "privilege" of claiming ownership. Banks are the real owners. Some have no issue with that. Actually most have no issue with that.
10-04-2007, 04:30 PM
#23
Member
Thread Starter
Join Date: 10-16-2005
Location: WI
Posts: 36
ok here is the deal
2006 hhr lt1 roof rails, fog lights, radio buttons on wheel (#1 post on here I think) 39000 miles mint condition.trade in 13000. car was free and clear.
2007 hhr better warranty lt2 loaded with everything but running boards,
23500 -3500 dealer=20000-13500 for my hhr(only paid 15000 new) = 6500 cash due at signing
Sounds like I paid 21500 for a car that costs 23500 and with 150 miles on it and had one to drive for 2 years for free.
2006 hhr lt1 roof rails, fog lights, radio buttons on wheel (#1 post on here I think) 39000 miles mint condition.trade in 13000. car was free and clear.
2007 hhr better warranty lt2 loaded with everything but running boards,
23500 -3500 dealer=20000-13500 for my hhr(only paid 15000 new) = 6500 cash due at signing
Sounds like I paid 21500 for a car that costs 23500 and with 150 miles on it and had one to drive for 2 years for free.
10-04-2007, 10:15 PM
#28
Banned
Join Date: 08-25-2007
Location: Myrtle Beach SC
Posts: 488
ok here is the deal
2006 hhr lt1 roof rails, fog lights, radio buttons on wheel (#1 post on here I think) 39000 miles mint condition.trade in 13000. car was free and clear.
2007 hhr better warranty lt2 loaded with everything but running boards,
23500 -3500 dealer=20000-13500 for my hhr(only paid 15000 new) = 6500 cash due at signing
Sounds like I paid 21500 for a car that costs 23500 and with 150 miles on it and had one to drive for 2 years for free.
2006 hhr lt1 roof rails, fog lights, radio buttons on wheel (#1 post on here I think) 39000 miles mint condition.trade in 13000. car was free and clear.
2007 hhr better warranty lt2 loaded with everything but running boards,
23500 -3500 dealer=20000-13500 for my hhr(only paid 15000 new) = 6500 cash due at signing
Sounds like I paid 21500 for a car that costs 23500 and with 150 miles on it and had one to drive for 2 years for free.
MSRP is not cost. Its "suggested" cost. Cost is what you actually pay, Everyone gets the same rebates and discounts if they know what they are doing,
The stretch for me is the dealer giving $13500 Actual cash value for an 06 base HHR with 36K on it. $10k Tops Tax alone would be $500 on the difference.
I bought a fully loaded (EVERYTHING except smokers kit and Spoiler) 2006 2LT
with 11,200 miles on it for $14,3k out the door. The dealer was not doing me a grand favor. Thats what the car is worth and he STILL made $2,000!
You really think the dealer will sell a 2006 HHR with 39K on it for $16,000 or even $14,500 when you claim you paid $15,000 two years and 39,000 miles earlier?????
Would anyone here buy a 2 year old HHR with 39K for $15,000? $14,000? Not I
Something sounds very fishy.