I’m in SoCal, and like everywhere in the country vehicle prices are through the roof. I’ve looked online, and been to tons of dealerships... they’re all super short on inventory. Good deals on used cars seem almost non existent.
My girlfriend and I do not have any vehicle atm so we can’t benefit from the high tradein market.
We have some pretty specific criteria. We’re pretty “nomadic” and not sure if we’ll be hear or even in the US more than a couple years.
We’re into overlanding/light trail driving/camping...ideally looking for a midsized suv like a RAV4 AWD.
I have pretty good credit and make 6 figures, but I’m already paying off a lot of debt. We’re not trying to spend more than $500/mo between the 2 of us (w/ insurance)
Our original plan was to buy something a few years old....but used cars right now are barely cheaper. Even with low interest rates were having a hard time finding a car we like in our price range. I don’t really know what the best financial decision is right now.
Since prices are close enough to new maybe it makes sense to go for that option...but my fear buying new is that if the market cools off in a year or so, the value of the car will decrease way faster than it would normally.
Typically everyone here says it makes no financial sense to do short term leases. But seems we’d be paying an extra $4k-$8k right now to purchase. And we don’t plan on having this car for a decade.
I also have no idea if we should just hold out a few months more and hope the prices fall soon.
Any advice?
Submitted May 22, 2021 at 07:53PM by DontMicrowaveCats https://ift.tt/3f8Sssu
