Danny Ocean
Enthusiast
I hope this is the correct forum for this question, and if not, my apologies. I'm a "newbie" around here...
A few years ago I purchased an older Stingray Convertible using a loan from People's First (now Capital One). The deal was no money down and 4.5% for five years. This was a no-brainer as the vehicle has appreciated more than 4.5% annually over the last three years and it appears it will continue to do so. I anticipate the vehicle's appreciation will "zero out" the finance charge in the end.
I would like to purchase a used Viper ('97 ~ '99 GTS) for a second car and am wondering if the aforementioned math will work with this vehicle. It seems that clean, low-mileage GTS's are holding their value, if not depreciating very little.
My other option is a lease. After three years, if the vehicle has appreciated, buying it back would make sense. If the vehicle has depreciated, I just walk away.
Any/all opinions are welcome.
Very Best regards,
Danny Ocean
Miami, FLA
A few years ago I purchased an older Stingray Convertible using a loan from People's First (now Capital One). The deal was no money down and 4.5% for five years. This was a no-brainer as the vehicle has appreciated more than 4.5% annually over the last three years and it appears it will continue to do so. I anticipate the vehicle's appreciation will "zero out" the finance charge in the end.
I would like to purchase a used Viper ('97 ~ '99 GTS) for a second car and am wondering if the aforementioned math will work with this vehicle. It seems that clean, low-mileage GTS's are holding their value, if not depreciating very little.
My other option is a lease. After three years, if the vehicle has appreciated, buying it back would make sense. If the vehicle has depreciated, I just walk away.
Any/all opinions are welcome.
Very Best regards,
Danny Ocean
Miami, FLA