Quote:
Originally Posted by JoeinSWFL
Some people called me crazy for thinking about this but I presently have a 6th Gen ZL1 vert with 23K on her. The payment is a bit steep and I have been thinking about getting a 2014 ZL1 vert.
I found one on Vroom with under 10K for 44K. Vroom wants to give me 55K trade in allowance and I owe 36K on my 2018. I'm looking for a lower payment which the 2014 will give me. I posted this question on a 6th gen forum and everyone thought I was crazy for downgrading to a 5th gen after having a 6th gen Z. I do realize I would be going to a somewhat slower and heavier vehicle.
Kinda pisses me off that the 6th gen group pisses all over the 5th gen Z's.
My question is should I go for it? I do love the styling of the 5th Gen Z's.
https://www.vroom.com/inventory/chev...5E9802320?b=gp |
I have to make a few assumptions with the info given. Short answer
d. none of the above.
I assume this is a driver car because you are making payments on a 4 year old car. You aren't looking for a garage queen.
- I normally wouldn't recommend going
4 years older on a car that is a driver you depend on and don't have lots of extra cash to replace shocks etc
- Y
ou would still be making payments. Banks don't like to loan if at all, on such a model year old car. How many years they stretch the payments are shorter too, so I assume payments wouldn't drop that much, could be higher even if e.g. only 24mo term.
- I got off the treadmill of car payments long ago. I am happier not changing cars every year and making perpetual payments. Get it paid off then keep it a long time. You get to save the mo payments for other things or the next car. My cars are 2017 and older, I was looking yesterday at getting a newer used car but prices are too high. New cars about 45-50k out the door for the daily family car I was looking at and not wanting to drop that kind of cash.
e. Keep the car and pay it off. Or, You don't feel the car is worth the sacrifice the payments put on you. Don't be afraid to be out of a fast car until you want to do that again someday, if ever.
f. Let vroom have it for 55k and buy a new corolla or something with the money you get after repaying the loan and adding in 5k or 10k for the 2022 you get, pay it off in 36mo or less. I'd start by seeing what kind of deal I'd get out the door trading it in at your preferred brand dealership.