I thought it would be good to revisit some of my car pricing data back in January to see how things have changed. A lot of the 2012's are now coming to the end of their product cycle so there should be some good deals out there, it should be interesting to see how much the same car costs now as compared to 8 months ago. The cars should cost less because they are almost a year old now. If you buy a 2012 now, keep it for 5 years and then sell it it will be worth less than if you bought it 8 months ago, kept it for five years and then sold it. So why the 2012 deals seem better now, you will probably lose the savings on the other end if you go to sell the car. If you plan on keeping it until it dies then you actually have got yourself a good deal.
I'll show the payment on a 5 year purchase then vs now.
Hyundai Sonata GLS - Then ($530) Now ($484) due to $3,250 discount
Volkswagen Passat Comfort-line - Then ($624) Now ($581) due to interest rate drop to 0% from 3.9%
Ford Fusion SEL - Then ($528) Now ($496) due to employee pricing discounts
Subaru Legacy Convenience package - Then ($597) Now ($555) due to rate drop
Honda Accord EX - Then ($607) Now ($567) due to rate drop
So, this kind of speaks volumes, obviously cars are cheaper in total cost at the end of their model years, by about $2,500 in total by saving about $40 per month over 60 months. The trend is very consistent across all makes and models. The downside is you are basically buying a year old car so you will lose this savings when you go to trade or sell the vehicle. But if you plan to keep the vehicle for the long haul, this is definitely the way to go.
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