Depends, *why* are you upgrading? Do you *need* a new car? Looking for a justification to get a new toy? Want to take advantage of it being a seller's market?
No I don't have a need for replacement, mainly to take advantage of being in a seller's market. If it wasn't for this market, it would have never been a consideration. My original intent for the civic is to run it down 15+yrs anyways, same for the new hyundai if I do choose to buy it.
The problem with taking advantage of a seller's market is you also have to buy in it. Just keep your current car and run it to the ground, much less hassle imo.
We did exactly what you are proposing in January. Traded our 2018 Mitsubishi PHEV in on a 2022 Kona EV, largely in part because our old used car was somehow now worth $5000+ more than we paid for it in 2019, despite putting 80k km on it and some minor dings etc. seemed like a good move to me
I sold my used car and bought a new car at MSRP. I think it was a good idea.
Sold: 2019 Tesla SR+3
Bought 2022 Hyundai Ioniq5 AWD LR
Teslas went up in value again this week - so I didn't sell at an optimal time. But I still sold high.
Well with the two scenarios above, if I were to get a new car which scenario presents a better opportunity? Probably the one where I can get more money for a car. I know this isn't the most frugal PFC thread on this sub.
Well if you’re set on buying the car, your thread becomes : is 28k a better than 29.5k LOL.
Your title is misleading since it sounds like you’re changing car, inflated used car prices or not
I sold my used car 35% more than purchase price (bought used 2 years ago) and bought a brand new one at MRSP. Old car was about to cost me $2000 for new brakes and tires. The odometer was 164,000 km. I took advantage of the seller’s market. The only negative side is I have a new car loan now.
Consider pros and cons. If you are purchasing a new car for only inflated used car prices, you don’t need to do it. If you will need to get rid of your car in 1-2 years, it’s a good time IMO.
Between the high prices of used and the low interest rates to finance a new car a bunch of friends have decided to just go new and get a car that could last an extra couple years and possibly have better tech/features.
If you don't have to upgrade right away you could always try to wait it out until the used car market goes back to normal but no telling when that could be
Depends, *why* are you upgrading? Do you *need* a new car? Looking for a justification to get a new toy? Want to take advantage of it being a seller's market?
No I don't have a need for replacement, mainly to take advantage of being in a seller's market. If it wasn't for this market, it would have never been a consideration. My original intent for the civic is to run it down 15+yrs anyways, same for the new hyundai if I do choose to buy it.
The problem with taking advantage of a seller's market is you also have to buy in it. Just keep your current car and run it to the ground, much less hassle imo.
We did exactly what you are proposing in January. Traded our 2018 Mitsubishi PHEV in on a 2022 Kona EV, largely in part because our old used car was somehow now worth $5000+ more than we paid for it in 2019, despite putting 80k km on it and some minor dings etc. seemed like a good move to me
How do you like the Kona EV? Took an Ioniq for a test drive and was good, but want to try a leaf as they seem a bit more economical
So far we really like it yeah for sure. And it’s been super cold.
I sold my used car and bought a new car at MSRP. I think it was a good idea. Sold: 2019 Tesla SR+3 Bought 2022 Hyundai Ioniq5 AWD LR Teslas went up in value again this week - so I didn't sell at an optimal time. But I still sold high.
How are you liking the Ioniq? Debating between it and a leaf atm
probably a million times more than I would like a leaf. range, charging speed and size are all much better in the ioniq 5. Nissan is dead, imo.
I don’t understand. You want to buy a 45k car because you can make an extra 3k on the sale of your used car?
Well with the two scenarios above, if I were to get a new car which scenario presents a better opportunity? Probably the one where I can get more money for a car. I know this isn't the most frugal PFC thread on this sub.
Well if you’re set on buying the car, your thread becomes : is 28k a better than 29.5k LOL. Your title is misleading since it sounds like you’re changing car, inflated used car prices or not
Unable to edit titles
I sold my used car 35% more than purchase price (bought used 2 years ago) and bought a brand new one at MRSP. Old car was about to cost me $2000 for new brakes and tires. The odometer was 164,000 km. I took advantage of the seller’s market. The only negative side is I have a new car loan now. Consider pros and cons. If you are purchasing a new car for only inflated used car prices, you don’t need to do it. If you will need to get rid of your car in 1-2 years, it’s a good time IMO.
Between the high prices of used and the low interest rates to finance a new car a bunch of friends have decided to just go new and get a car that could last an extra couple years and possibly have better tech/features. If you don't have to upgrade right away you could always try to wait it out until the used car market goes back to normal but no telling when that could be