Originally posted by Yankees25:
Question (not trying to be a jerk). Did you buy the car new 4 years ago? If so, how on earth do you still owe $10K? Balloon payment? These cars are not investments. If your plan is not to lose money, simply drive it into the ground. I'm at 115K and have had it paid off for over a year now. Could the car have been better built? Probably, but it didn't cost BMW prices either. And BMW doesn't offer the lowball financing that Ford does anyway. In any event, sure there are a lot of cars that catch my fancy, but not enough to sway me back into making payments again.



I think this guy nailed it. You will lose money on a car 99 times out of 100. They are DEPRECIATING ASSETS. If you owe $10K on a car that is 4 years old, you either paid too much for it to begin with or you didn't put enough down.

Resale value is the mantra of the overextended and upside-down. If you don't want to lose money on a car, buy a bus pass.

2000 SVT Contour -- SOLD! New car coming soon... 1980 Triumph TR7 -- Needs a new home...