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Buyer's Remorse

Bama Panther

By Bama Panther,
in Huddle Lounge

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Bama Panther Mentor

Bama Panther

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So, the wife and I just purchased a new Chevrolet Surburban Z71 LT 4WD. :yikes: It is a car that she has wanted for quite some time. I do not feel so great about the purchase at the moment, but I know it will be good for us in the future (one child, planning on three more).

However, I can't help but question what else we could have done with the money. There are so many more things that I would have rather done with it, i.e. son's ESA, charity, WorldVision, etc.

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Bama Panther Mentor

Bama Panther

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electro, they do, but my wife waived it as part of her pricing, which really was a great deal.

BMorgan . . . it really isn't much worse than the car that we traded in. at least, that is what the specifications say. It does have the flex fuel capabilities and operates on only 4 cylinders if you are on the highway holding a steady speed.

Like I said, it should be a great car for our plans for the future. However, at the moment, the sticker shock is in full swing.

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Happy Panther Grand Master

Happy Panther

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Putting money into a car is almost always a bad idea. a $45000 car is a complete luxury and is a depreciable asset. If you have debt or don't have a house yet then totally bad idea unless you really feel that you are getting $45000 of happiness out of it.

Is this your second car? did you take out a loan? How soon before your kids go to college?

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Bama Panther Mentor

Bama Panther

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Putting money into a car is almost always a bad idea. a $45000 car is a complete luxury and is a depreciable asset. If you have debt or don't have a house yet then totally bad idea unless you really feel that you are getting $45000 of happiness out of it.

Is this your second car? did you take out a loan? How soon before your kids go to college?

You are definitely correct, HP. It is a complete luxury, but it is something that we plan to have for at least 10 years. We plan to have it longer if it holds up. I had my first automobile for 14 years before getting rid of it. I really take care of cars and don't view them as an investment. I may not get $45k of happinenss out of it, but our family will get much more than $45k of use out of it.

This is a second car. Mine was ridiculously cheap, so this doesn't do that much damage in all reality.

My son is only five months old, and I will be able to transfer my GI Bill benefits to him. I just wanted to start an ESA for a back-up. It is the second, and so on, child that we really need to fully fund an ESA for.

wow man....

Hope you like it... Thats about all I can think of..

Way to much $$$$$ for anything thats not named a Corvette Z06

I agree, AK. I agree.

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2shy Newbie

2shy

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without getting too personal, unless you make _______ its unwise to own a 45,000 vehicle. I dont know your debt or current credit rating or monthly bills or if you have children(if so what age) etc etc. That vehicle is losing value every day. In three years(barring unscreen events) it could easily be worth 20,000 or less. If weathly or very rich its doesnt matter. If middle class feeling the need to play a "role" well......

My advice call Clark Howard or that kim chick. They deal will this type of thing daily and have so for years.

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SMACKDAB Newbie

SMACKDAB

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without getting too personal, unless you make _______ its unwise to own a 45,000 vehicle. I dont know your debt or current credit rating or monthly bills or if you have children(if so what age) etc etc. That vehicle is losing value every day. In three years(barring unscreen events) it could easily be worth 20,000 or less. If weathly or very rich its doesnt matter. If middle class feeling the need to play a "role" well......

My advice call Clark Howard or that kim chick. They deal will this type of thing daily and have so for years.

So you can't own a 45,000 dollar vehicle now unless you are rich?

WOW. As far as depreciation, that goes for any and everything. That's just how it is. Some things keep more value with time, some don't.

Chevy certainly maintains value far and above a Kia, Hyundai, or Subaru(not sure about the spelling of those) oh well.

If they had a plan, then why knock it, or question their financial status? They got it should tell you that they had good enough credit to do so.

If they want to keep it for 1 month, or 100 years shouldn't matter either. I have a vehicle that is 40 years old, and worth far more than what it cost new, and probably blister most produciton vehicles on the market today......so why bang their balls about it man? Geez.

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