Quote:
Originally Posted by gjarzabek009
The people that do trade in for a v8 have a boat load of excuses to justify that they didn't get financially fisted when in reality they did, lol.
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I'm not certain about the "excuses" part, but your statement definitely holds water.
There are very few threads I've read on this forum where anyone has openly admitted to taking a "financial bath" by trading up from an LS/LT to an SS.
Heck, My 2LT RS 'vert is 9 months old and paid off and has only 2,400 miles on her. If I were to trade up to a 2012 2SS RS 'vert, it would cost me approx. $15k, given the current trade-in value of my 9 month old 2011 'vert is approx. $26-$28k.
There's no way in hell people are even "breaking even" - let alone getting ahead - by trading up - even if their Camaro is paid off. Lowering one's monthly payments via the trade-up is, with all likelihood, due to a better interest rate than the original loan and having SOME equity in the old Camaro. Either the loan pay-off of their 1st Camaro is rolled over into the new, (lower interest?) loan or they're receiving less in trade-in value than the original selling price if the car is paid off - because it has depreciated. Making payments on 2 Camaros for a total of 7 or 8 years is still a mega loss. I'm not a financial wiz, but the simple fact is, folks are just extending their payment plan toward owning a Camaro.
Nothing wrong with any of that. To each his own, but it is wise to "live within one's means".
Lots of threads about the "cost of trading up".